CMA is a globally certified professional course in the field cost & management accounting introduced by the Institute of Cost Accountants of India (ICAI). It is an ideal course for student who wants to build a career in financial and accounting field. CMA course will help students gain expertise in various accounting related subjects like financial management, auditing, financial statement analysis, working capital policies, taxation etc. They can work as accounting experts in different industries. For those students who are aspiring to become professionals in the financial sector can join the CMA course. Let’s look at the overall structure of the course and CMA syllabus.
| Course | CMA (Cost Management Accounting) |
| Levels | 3 (Foundation, Intermediate, Final) |
| Duration | 6 months to 4 years |
| Basic Eligibility | Basic qualification of 10+2 (Varies as per level) |
| Number of Papers |
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| Career | Business analysts, Cost advisors, Tax Consultants, Chief Financial Officer (CFO) |
Before joining the CMA course, it is important to understand the course syllabus, eligibility criteria and career prospects. There are 3 levels for a CMA course- Foundation, Intermediate and Final. After clearing all the three exams, students are provided with the certification. Let’s look at the details of each of the 3 courses
Foundation course is the first step in the process of completion of CMA course. Students who’ve completed Class XII are eligible to seek admission and appear for Foundation Course Examination.
| Paper 1 | Fundamentals of Economics and Management (FEM) |
| Paper 2 | Fundamentals of Accounting (FOA) |
| Paper 3 | Fundamentals of Laws and Ethics (FLE) |
| Paper 4 | Fundamentals of Business Mathematics and Statistics (FBMS) |
(Syllabus and its contents, scheme and/or pattern of examinations, are subject to modifications from time to time.)
After completing the Foundation Examination, the students can register for the Intermediate Course. There are 8 papers in the CMA Intermediate level (Group 1 and Group 2).
Paper GROUP – I
| Paper 5 | Financial Accounting (FAC) |
| Paper 6 | Laws & Ethics (LNE) |
| Paper 7 | Direct Taxation (DTX) |
| Paper 8 | Cost Accounting (CAC) |
Paper GROUP – II
| Paper 9 | Operations Management & Strategic Management (OMSM) |
| Paper 10 | Cost & Management Accounting and Financial Management (CMFM) |
| Paper 11 | Indirect Taxation (lTX) |
| Paper 12 | Company Accounts & Audit (CAA) |
After clearing the CMA Intermediate level exam, students can appear for the CMA Final level exam. The students can become a certified Cost and Management Accountant only after the successful completion of Final course, the students. There are 8 papers in the CMA Final level (Group 3 and Group 4).
Paper GROUP – III
| Paper 13 | Corporate Laws & Compliance (CLC) |
| Paper 14 | Strategic Financial Management (SFM) |
| Paper 15 | Strategic Cost Management – Decision Making (SCMD) |
| Paper 16 | Direct Tax Laws and International Taxation (DTI) |
Paper GROUP – IV
| Paper 17 | Corporate Financial Reporting (CFR) |
| Paper 18 | Indirect Tax Laws & Practice (ITP) |
| Paper 19 | Cost and Management Audit (CMAD) |
| Paper 20 | Strategic Performance |
After the completion of CMA course, the students will gain variety of skills that are mentioned below.