CMA Course Details: Duration, Fees, Eligibility and More

🎓What Is a CMA Course? 

CMA (known as Certified Management Accountant) is a certificate course. It is a professional qualification that emphasizes accounting and financial management. 

The amazing thing about CMA is that it is internationally recognized and gives good opportunities for career prospects. You can pursue a CMA from any of the two well-recognized institutions of India, i.e., The Institute of Cost Accountants of India (ICMAI) and The Institute of Management Accountants (IMA). 

This course provides you with the experience to meet the demands of the fast-growing business world. Now you must be thinking about the eligibility criteria. How much is the CMA course fees? What is the duration of the course ‘Certified Management Accountant’? We will discuss everything one by one. 

⏳CMA Course Duration

CMA course duration depends on the levels of the course. The CMA course is categorised into different levels, i.e., foundation, intermediate, and final. If you want to pursue all the levels, it usually takes 3 years. If you are getting enrolled after graduation then the duration of the foundation course will be 2 years. Here detail of every level is given below in the following table:

✅CMA Course Eligibility

Are you planning to start your career in management and cost accounting? Are you planning to pursue CMA (Certified Management Accountant)? Are you thinking whether you are eligible for the CMA course or not? Don’t worry. We are going to let you know about the eligibility criteria for getting admission in the CMA course. Details of CMA course qualification and experience is given in this section.

This course is open to all accounting students and finance professionals. Furthermore, the CMA course is also for those who are looking to advance their careers in management accounting. So, let’s have a look at the CMA course qualifications for different levels.

🎓CMA Foundation Qualifications

• Passed high school or Intermediate.

• Passed the National Diploma in Commerce Examination recognized by AICTE or any other board.

👩🏻‍🎓CMA  Intermediate Qualifications

• Passed the CMA foundation course or entry-level course from the Institute of Cost Accountants of India (ICMAI) or its equivalent.

• Any stream of graduation (Except fine arts)

👨‍🎓CMA Final Qualifications

• Passed all the papers of both groups (Group I and Group II) of the intermediate level of CMA.

✍CMA Exam Pattern

Every year exam applications are released in April for the exams in June and October for the exams in December. Here you can see the CMA course details in the following table: mode of exam, question type, marks, no. of groups, etc.

💸CMA Examination Fees

The Institute of Cost Accountants of India (ICMAI) conducts the CMA exams twice in a year (June and December). You have to apply before the exam application deadline if you want to sit in any examination, i.e., foundation, intermediate, and final. For this, you have to pay an examination fee to the institute. The fee amount varies for national and international students. If you cannot pay the fee in a single time then you can pay the fee in two installments. Here you can have a look at the CMA course fee in the following table. 

*Note: The data mentioned above is subject to change. We suggest you see the prospectus for more updated information. Prospectus link: https://icmai.co.in/upload/Students/Syllabus2022/CMA_Prospectus_Syllabus_2022.pdf.

📝CMA Course Syllabus

Basically, the CMA course covers various subjects, including cost accounting, financial analysis, strategic planning, performance evaluation, business analysis, and decision-making. CMA course syllabus is divided according to the levels of the course. 

Now let’s see the syllabus of CMA full course (Foundation, Intermediate, and final) in detail.

📈CMA Syllabus: Foundation Level

– All the papers of CMA Foundation level are given below:

🚀CMA Syllabus: Intermediate Level

– There are 2 groups in the CMA Intermediate level, i.e., Group I and Group II. All the papers of the CMA Intermediate level are given below:

🔰CMA Syllabus: Final Level

– There are 2 groups in the CMA Intermediate level, i.e., Group I and Group II. All the papers of CMA Intermediate level are given below:

🎯CMA Course Job Opportunities

Whenever a person plans to pursue a course, some questions come into their mind like “What are the job opportunities after the course”, or “What are the benefits of the course?” Generally, people want to pursue a course either to get a good job or to get a promotion so that they can increase their financial status. CMA is a good course to pursue in the 21st century. It is most in demand. It opens great job opportunities for you. 

Here we will discuss the career prospects and potential returns after pursuing the CMA course. This course leads to the roles in areas, such as planning, analysis, control, and decision-making. Have a look at the following job profiles that you can apply for after completing the CMA program.

💡Conclusion

In the end, it is concluded that the CMA course is good for those who want to make a career in financial management and for those who want to upgrade their profile in financial management. It is recognized internationally. Additionally, you can get a job in finance at an early age compared to CA and a Ph.D. in financial management. Hope you got all CMA course details, including CMA course job opportunities, fees, qualifications, etc. through the CollegeHai platform.

📌Frequently Asked Questions(FAQ)

1. What is the total cost of CMA?

The total cost of CMA depends on the variables like study materials and tutoring. Basically, the entire cost of pursuing the Certified Management Accountant (CMA) course ranges between 50 thousand and 1 Lakh in India.

2. How many years is the CMA course?

If you are pursuing the CMA course in India, you can complete it in 3 years including all the levels, i.e., foundation, intermediate, and final. 

3. Can I complete CMA in 2 years?

Yes, you can complete the CMA in 2 years if you are enrolled directly at an intermediate level. Rest it depends on how much time you are spending on your study. 

4. How much can a CMA earn?

A Certified Management Accountant (CMA) can get a good salary. In India, entry-level CMA can earn ₹6-7 lakhs/year. It increases with the experience.

5. Is CMA easy to pass?

Pursuing CMA is not as easy as pursuing a normal B.A. or B. Com. Effective preparation and dedicated study are important to clear the course. Furthermore, it is a + point for you if you have a good understanding of cost management, financial analysis, and other related areas.

6. Is CMA better than CA?

We cannot say which one is better, CMA or CA. Both the courses are professional. CMA is a good choice for those who have an interest in management accounting, strategic financial management, and cost analysis. Whereas CA is good for those who have an interest in auditing, taxation, and broader accounting principles. Moreover, the duration of CMA is shorter than CA.

7. Is CMA a tough job?

CMA is not too tough if you are interested in studying management accounting, strategic financial management, and cost analysis. But if you want to clear CMA in a single attempt, you have to study a lot to clear all the papers of all groups. 

8. Who is eligible for CMA?

Eligibility of CMA is given below:

• Highschool or Intermediate; OR

• Professional experience in financial management; OR

• Passed in the CMA foundation; OR

• Bachelor degree.