CMA Course Secrets Revealed – 2023

Introduction:

A professional specialization in financial management and accounting for companies and organizations is called a Certified Management Accountant (CMA). With this certification, one may demonstrate their expertise in both financial accounting and strategic business management. As a result, the CMA Course education process places a greater emphasis on business decision-making than on audits, taxes, and other traditional accounting topics.

A great career move is earning your CMA certification, especially if you intend to work in management accounting. But before you start, it’s important to comprehend every component of the course, such as eligibility, exam format, salary, and career prospects.

CMA Course Details

Check out the CMA course details in the table below.

What is CMA Course?

Cost and Management Accounting, or CMA, is a certificate program that confers the CMA title upon successful completion. The certification provides access to a rewarding career in corporate accounting. The four knowledge pillars of management, regulatory framework, strategy, and financial reporting form the foundation of the CMA course. After passing the CMA test at one of the three levels stated below, a candidate is given the designation of CMA:

• Level 1: Fundamentals
• Level 2: Intermediate
• Level 3: Completion

What is CMA Full form?

Certified Management Accounting is known by its full name. In the USA, the Institute of Management Accountants, or IMA, offers this certificate program. The Certified Management Accounting course aids in specializing in managerial and executive level responsibilities.

CMA Course Objectives:

• Navigating through excel efficiently & effectively
• Representing and formatting data
• Plotting various charts
• Performing sensitivity analysis
• Using various analytical tools in excel
• Using formula’s and functions
• Organizing and analyzing large volume of data
• Creating MIS report
• Case Studies

CMA Intermediate Eligibility Criteria

• Passed SSC or equivalent
• Foundation or entry level of Common Admission Test (CAT) by Institute of Cost Accountants of India (ICAI)
• Graduation in any stream (except Fine Arts)
• Even students who are awaiting results would pass CMA course eligibility

CMA Course Eligibility Criteria

There are different requirements for each of the three levels of the CMA exam. The prerequisites for all three levels of the CMA course are listed in the area below.

CMA Foundation Eligibility Criteria

•  Have passed Class 10 or equivalent followed by Class 12 or equivalent
• If they have received National Diploma in Commerce Examination (AICTE or by any recognized board)

CMA Final Eligibility Criteria

• Students who are done with their Intermediate level at school
• Graduation in any stream (except Fine Arts)
• Have passed all eight papers of the Intermediate course

Why Go After CMA?

You ought to enroll in the Certificate in Management Accounting for a number of reasons. Take a look at them in the list below.

Good Salary – Candidates who hold a CMA degree are paid well. The average yearly salary for certified management accountants in India is reportedly around INR 7.90 lakhs, according to Pay scale.

Discover New Areas – CMA candidates gain in-depth knowledge of the management, finance, and accounting domains. It is one of the internationally recognized credentials that grants entry into the corporate sector.

Job Opportunities – After completing the CMA Certification Management Accounting course, a wide range of positions are accessible. Candidates have two options: they can begin working and advance to top positions for various reputable firms, or they can pursue more accounting-related schooling and strengthen their resume.

Career – People with a certificate in management accounting can hold important jobs like finance manager, budget analyst, cost accountant, senior accountant, internal auditor, financial analyst, corporate or division planner, and more.

CMA Course: When to Apply?

Foundation:

The ICAI course’s foundation course admission is available all year round. However, students who wish to take the June term examination must apply by January 31 of that year, and students who wish to take the December term examination must apply by July 31 of that year.

Intermediate:

The ICAI course is open for enrollment all year round. However, students who wish to take the June term examination must apply by January 31 of that year, and students who wish to take the December term examination must apply by July 31 of that year.

CMA Online Admission

The CMA course’s online admissions procedure is described in the points below.

First, register for the exam on the IMA’s (Institute of Management Accounting) official website.

Apply for the CMA entrance tests by completing the online application, uploading the required documentation, and finishing the process by paying the application cost.

You receive the authorization numbers, testing windows, and information bulletin after receiving the registration confirmation.

CMA Registration: Necessary Documents

CMA Course: Foundation

CMA Course: Intermediate

CMA Application Form Fees

CMA Course Fees

Differences between CMA and CA

CMA USA vs CMA India

The following are the variations between CMA in India and the USA:

How to Become a Certified Management Accountant (CMA)

You need to have the following to become a CMA:

• Membership of IMA
• A Bachelor’s degree from an accredited university
• Two years of relevant experience
• Passed both the parts of CMA Exams

CMA Syllabus and Subjects

The syllabus for the CMA course is as follows:

CMA Syllabus for Foundation Course

CMA Syllabus for Final Course

CMA Syllabus for Intermediate Course

CMA Exam Pattern

CMA Exam Pattern 2022 for Intermediate and Final Courses

The space below mentions the CMA 2022 exam pattern for intermediate and final courses:

• Exam Mode: Computer Based Test from center
• Exam Type: Descriptive mode only
• Marks per Paper: Each paper carries 100 marks
• Test Duration: Each paper is of three hours duration

CMA Exam Pattern 2022 for Foundation Courses

The space below mentions the CMA 2022 exam pattern for foundation courses:

• Exam Mode: Remote proctored test from home
• Exam Type: Objective type
• Marks per Paper: Each paper carries 100 marks
• Test Duration: Each paper is of two hours duration

Best colleges or institutions to study CMA in India and worldwide:

Indian Colleges / Institutions

• Institute of Cost Accountants of India (ICAI)
• The National Institute of Financial Management (NIFM)
• XLRI Jamshedpur
• Symbiosis Institute of Management Studies (SIMS)
• Indian School of Business (ISB)
• JIBA-Jivkaran Institute of Business Administration, Gujrat
• SMJC-Sri Medha Junior College, Andhra Pradesh
• CMES-College of Management and Economics Studies, Uttarakhand
• ICAT-Image College of Arts Animation and Technology, Tamil Nadu
• SC-Superwhizz college, Andhara Pradesh
• NDCB-Nagarjuna Degree College, Bangalore
• Gandhi Shanti Niketan Mahavidyalaya, Uttar Pradesh
• AMMDC-Annapurna Memorial Modern Degree College, Andhra Pradesh

Worldwide Colleges / Institutions

• University of North Carolina Kenan-Flagler Business School
• University of Texas at Austin McCombs School of Business
• Indiana University Kelley School of Business
• Northwestern University Kellogg School of Management
• University of California Los Angeles Anderson School of Management

These colleges and institutions offer high-quality CMA programs that will prepare you for a successful career in management accounting. They also have strong alumni networks that can help you land your dream job.

When choosing a college or institution to study CMA, it is important to consider your individual needs and goals. Some factors to consider include the program’s curriculum, faculty, and location. It is also important to make sure that the college or institution is accredited by the Institute of Management Accountants (IMA).

Free/Paid Online Courses

Study Material for CMA free:

CMA Foundation Study Material 2020 in PDF Free Downloads: Candidates who are wondering about the CMA foundation ICMAI study material pdf can refer to this page completely. You will definitely find the best solution from here. Because we have compiled the best & most reliable institutes provided CMA foundation study materials in pdf format along with subjects, weightage for each session, mock test papers. You can either view or download all these CMA foundation prep resources from our page for free of cost and score well in the exams.

Also, the Institute of Cost Accountants of India issues ICMAI study materials to all the candidates who have registered under the CMA foundation program but it takes one month to receive. So to save your time and kick start your preparation, we have listed pdf formatted study materials for the CMA foundation course in the further sections. Go through the below modules and acquire CMA foundation subject wise study materials in pdf.

Important and Crucial Points of CMA

• The CMA designation is a globally recognized credential. This means that it is valuable no matter where you work in the world.
• The CMA exam is challenging but rewarding. It is a rigorous exam that tests your knowledge and skills in management accounting. However, if you pass the exam, you will be well-positioned for a successful career in management accounting.
• The CMA designation can help you advance your career. Many employers require or prefer CMAs for management accounting positions. With a CMA designation, you will be more likely to be promoted and earn a higher salary.
• The CMA designation can help you develop your skills. The CMA exam covers a wide range of topics in management accounting. By studying for the exam, you will develop your skills in financial analysis, budgeting, forecasting, and reporting.
• The CMA designation can help you network with other professionals. The IMA, the organization that administers the CMA exam, has a large network of CMAs worldwide. By becoming a CMA, you will be able to connect with other professionals in your field and learn from their experiences.

Here are some additional tips for pursuing a CMA certification:

• Do your research. Before you start studying for the CMA exam, it is important to do your research and understand what is involved. This includes understanding the exam content, the exam format, and the registration process.
• Set realistic goals. The CMA exam is a challenging exam, so it is important to set realistic goals for yourself. Don’t try to cram everything into a short period of time. Instead, break the material down into smaller chunks and study each chunk over a period of time.
• Find a study method that works for you. There are many different ways to study for the CMA exam. Some people prefer to take classes, while others prefer to study on their own. Find a study method that works for you and stick with it.
• Don’t give up. The CMA exam is a challenging exam, but it is possible to pass if you are willing to put in the hard work. Don’t give up if you don’t pass the exam on your first attempt. Just keep studying and practicing, and you will eventually pass.

Conclusion

The Certified Management Accountant (CMA) designation is a highly respected credential in the accounting field. It demonstrates that you have the knowledge and skills necessary to be a successful management accountant. If you are considering pursuing a CMA certification, it is important to choose a college or institution that offers a high-quality program.

The colleges and institutions listed above offer some of the best CMA programs in India and worldwide. They have strong faculty, curriculum, and alumni networks that can help you land your dream job. When choosing a college or institution, it is important to consider your individual needs and goals. However, any of these colleges or institutions would be a great choice for pursuing a CMA certification.