CMA Course: Details, Full form, Eligibility, Registration, Job, Salary, Scope, Result 2022 | CollegeSearch (2023)

A Certified Management Accountant (CMA) is a professional specialisation in financial management and accounting for businesses and organisations. This qualification proves that a person is knowledgeable in both financial accounting and strategic company management. As a result, rather than audits, taxes, and other conventional accounting material, the CMA education process focuses on corporate decision-making.Check Out: Best Courses after 12th Commerce.

Obtaining the CMA certification is a wonderful career move, especially if you want to work in management accounting. But, before you begin, it is critical that you understand every aspect of the course, including eligibility, exam structure, salary, and the prospects it will provide.Check out: BBA Vs BCom- Which is Better?

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CMA Course Details

Check outthe CMA course detailsin the table below.

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What is CMA Course?

CMA, or Cost and Management Accounting, is a certificate course that awards the CMA title to those who complete it. The certification opens the door to a successful career in company accounting. The CMA course is built on four knowledge pillars: management, regulatory framework, strategy, and financial reporting. A candidate is designated as a CMA after passing the CMA test at one of the three levels listed below:

Level 1: Fundamentals

Level 2: Intermediate

Level 3: Completion

Popular Courses-

What is CMA Full form?

CMA full form is Certified Management Accounting. It is a certificate course provided by the Institute of Management Accountants or IMA in the USA. The Certified Management Accounting course helps to get specialize in Management and Executive level duties.

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 analysing large volume of data

· Creating MIS report

· Case Studies

CMA Course Eligibility Criteria

The eligibility criteria toapply for CMA examat all three levels vary. Space below mentions the CMA course eligibility criteria for all three levels.

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 recognised board)

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 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

Check Out : CA Salary in India.

Why Pursue CMA?

There are several reasons why you should take the Certificate Management Accounting course. Check them out in the list below.

Good Salary -Candidates with the CMA degree receive a good salary. According to Payscale, the average annual income for Certified Management Accountants in India is around INR 7.90 lakhs.

Explore Different Fields -CMA candidates get in-depth expertise in the fields of management, finance, and accounting. It is one of the globally recognised qualifications that allows access to the corporate world.

Job Scope -There are numerous jobs available after completing the CMA Certification Management Accounting course. Candidates can either start a job and work in top positions for numerous recognised companies, or they can seek additional education in the accounting area and build their resume.

Career -Candidates with a Certificate Management Accounting degree can work in prestigious employment positions such as Finance Manager, Budget Analyst, Cost Accountant, Senior Accountant, Internal Auditor, Financial Analyst, Corporate or Division Planner, and so on.

CMA Online Admission

Check out the online admission process for the CMA course in the points below.

· Register yourself on the official website of the IMA (Institute of Management Accounting) first.

· Apply for the CMA entrance exams, fill out the application form, upload the necessary documents, complete the process by paying the application fees.

· Upon receiving the registration confirmation, you receive the authorization numbers, testing windows and information bulletin.

Know Why ACCA Course is becoming popular among students.

Also know about ACCA Subjects

CMA Registration: Necessary Documents

CMA Course: Foundation

CMA Course: Intermediate

CMA Course: When to Apply?

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CMA Application Form Fees

CMA Course Fees

Note:

· 'Other Professionals' include 'Corporate Professionals'

· Substantial discount on the Course fees is available for bulk corporate enrolment

Differences between CMA and CA

CMA USA vs CMA India

Here are the differences between CMA in USA and India:

How to Become a Certified Management Accountant (CMA)

To get the CMA certification, you must have:

· Membership of IMA

· A Bachelor's degree from an accredited university

· Two years of relevant experience

· Passed both the parts of CMA Exams

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 centre

· 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

CMACourse Duration & Delivery:

· 50 hours of integrated curriculum spreading across 3 months

· 25 hours of Institute Support – Recorded and Live online sessionsby experienced faculty over the weekends covering advanced concepts,practical application of concepts and Query Resolution

· 25 hours of ‘Microsoft Advanced Excel Programme' for ‘Microsoft Office Specialist Certification'

· ‘Microsoft Imagine Academy Certification' after completion of the 25 hours of ‘Microsoft Advanced Excel Programme'

· Online ‘Microsoft Office Specialist Certification'Examination after completion of the 50 hours course

· ‘Microsoft Office Specialist Excel 2019 Certification'after successful completion of the Examination

CMA Result 2022

CMA Intermediate Result 2022

Candidates can check the important dates related to the result of CMA intermediate June 2022 from the table mentioned below. The dates for the CMA Intermediate result 2022 will be updated once notification will be released by the institute.

CMA Intermediate 2022 Results - Highlights

How to check CMA Intermediate Result 2022?

CMA results will be announced on the website of the institute and can be checked by following the process mentioned below:

· Visit the official website: icmai.in.

· Click on the examination tab

· Select the ‘result' option from the menu

· Click on the exam you had appeared

· Enter the 11-digitCMA intermediate registrationnumber and then click on “view result”

· The screen will show the result.

· Candidates can download the result of CMA intermediate 2022 from here and save it for future reference.

CMA Final 2022 Result – Important Dates

How to Check CMA Final Result 2022?

Candidates can check the CMA Final results 2022 by following the steps given below:

· Visit the official website: icmai.in.

· Click on the examination tab

· Select the ‘result' option from the menu

· Click on ‘CMA Final exam result'

· Enter the 11-digit CMA Final registration number and then click on “view result”

· The screen will show the result.

· Candidates can download the result of CMA Final 2022 from here and save it for future reference.

CMA Syllabus and Subjects

The syllabus for the CMA course is as follows:

CMA Syllabus for Foundation Course

CMA Syllabus for Intermediate Course

CMA Syllabus for Final Course

CMA:Microsoft Office Specialist Course

This ‘Certificate Course in Advanced Business Excel for Finance Professionals [with Microsoft Certification]'intends to train and up-skilling the participants with the advanced and latest tools in Microsoft Excel along with Microsoft Certification.

Why Become Certified

· More than 50% of today's jobs require some technology skills and experts say that percentage will increase to 77% in the next decade.

· Within next 10 years, 60% of the jobs that will be available do not currently exist.

· In a national Survey done by Mckinsey /Manpower, 50% of employers reported that they are unable to fill the jobs openings with qualified workers.

Online Assessment for Microsoft Certification:

· Online Assessment in MCQ format

· Assessment duration: 50 – 55 mins for 1000 marks

· The participant must secure at least 70% marks to qualify

· Type of Questions – Project based simulation

· Assessment Fees: Rs.1000/- + 18% GST for the first attempt

CMA Responsibilities

The following are the responsibilities that a Certified Management Accountant is expected to fulfill in the relevant job in a corporate.

· The CMA track the financial statements, analyze results, prepare roots and make the strategies to improve the productivity of the company.

· A CMA is responsible for converting the recorded data into financial reports and further for the formulation of the decided financial strategies.

· They play the role of a supervisor of other accountant and accounting manager in the financial department.

· As a financial risk manager, the CMA helps in predicting the future risks that may affect the productivity of a company and further execute to eliminate these risks.

CMA Course: Career, Scope and Salaries

Students are placed both through campus as well as off-campus. Students are equipped to not just pursue strictly accounting profiles on organizations, but can also leverage their knowledge and experience to venture into fields like consulting and management.

CMA Jobs: Roles

Students can explore and take up multiple roles in a company post their course completion. These include:

· Internal Auditor

· Cost Accountant

· Finance Manager

· Assistant Finance Manager

· Chief Financial Officer

· Financial Analyst

· Financial Risk Manager

· Finance Manager

· Financial Controller

· Cost Accountant

· Cost Manager

· Chief Financial Officer

· Relationship Manager

CMA Salary Expectation

As of now, IT, ITeS and Telecommunications happen to be the industries that offer most in terms of remuneration. The average salary offered to freshers starts at INR 22,000-25,000 per month. With experience and exposure, this, of course, would rise. The table below mentions the average salaries of top job positions in organisations offered to candidates holding a CMA designation

CMA Salary In India

CMA Course: FAQ's

Q) What is the full form of CMA?

A. CMA full form is Certified Management Accounting .

Q) What is CMA course duration?

A. CMA course duration in India is 3 years.

Q) What does a CMA do?

A. The following are the responsibilities that a Certified Management Accountant is expected to fulfill in the relevant job in a corporate.

· The CMA track the financial statements, analyze results, prepare roots and make the strategies to improve the productivity of the company.

· A CMA is responsible for converting the recorded data into financial reports and further for the formulation of the decided financial strategies.

· They play the role of a supervisor of other accountant and accounting manager in the financial department.

· As a financial risk manager, the CMA helps in predicting the future risks that may affect the productivity of a company and further execute to eliminate these risks.

Q) Can I do CMA after 12th?

A. CMA course after 12th

There is no specific criteria to give the CMA course exam and any student can apply. Even though this course can be pursued after the 12th, there are a few important criteria that need to be met to obtain the CMA certification

Q) How long does it take to complete CMA?

A. It takes 3 yeaars to complete CMA in India.

Q) What is the salary of a CMA in India?

A. Average salary for a CMA in India is7 Lakhs per year (₹58.3k per month).

Q) What is the scope of CMA?

A. In short, CMA is a specialised coursewith significant potential in India and globally. The value of a CMA has grown significantly in recent years. This is because of India's economic expansion, the entry of significant foreign corporations into its market, and the Make in India campaign.

Q) What's better CMA or CPA?

A. If a candidate is interested in auditing, taxation, reporting, and regulation, he or she should pursue CPA, whereas CMA is a better alternative for someone interested in management, strategic analysis, and decision making.

Q) Is CMA a popular course?

A.The CMA course is increasing in popularity among business students, particularly those who want to pursue a career in Cost and Management Accounting.

Q) What are the disadvantages of CMA?

A.One disadvantage of the CMA certification is the time and money required to obtain it. Of course, when you consider other factors, how much you may earn in salary, and the additional roles and career chances that will become available to you, this investment will pay for itself.

Q) Who Earns More CA or CMA?

A. Which one pays the most? A Chartered Accountant earns an average of 8,06,154 INR per year in India, whereas a Certified Management Accountant earns an average of 5,50,000 INR per year. As a result, we can conclude that a CA makes more than a CMA.

Q) Is CMA exam difficult?

A. The CMA exam is extremely demanding and will put your wits to the test. The industry average CMA pass rate for both sections is only 45%, which means that only around half of those who take the test will pass. The CMA exam is recognised for its rigour and difficulty, and you must prepare if you want to pass.

Q) Is becoming a CMA worth it?

A.Obtaining the CMA certification is a wonderful career move, especially if you want to work in management accounting. But, before you begin, it is critical that you understand every aspect of the course, including eligibility, exam structure, salary, and the prospects it will provide.

Q) Is CMA better than MBA?

A.The CMA is a professionally recognised qualification, whereas the MBA is an academic degree. Though both are highly sought after career goals in the accounting sector, the CMA focuses on management accounting while the MBA in Financial covers a far larger range of finance units.

Q) What is the passing criteria for CMA Final examination 2022?

A. Candidates to pass CMA Final examination 2022 should score a minimum of 40% marks in each subject and an overall aggregate of at least 50% marks.

Q) What is the pass percentage for CMA intermediate exam?

A. In order to qualify for CMA exams, a candidate is required to obtain a minimum of 40% marks in each subject and an aggregate of 50% or more.

Q) How many papers are there in the CMA?

A. There are total of 20 papers in the CMA Exam distributed in the CMA Foundation, CMA Inter, and CMA Final.

Q) What kind of subjects are covered in the CMA Exam?

A. The CMA Exam covers subjects like accounting, laws, ethics, finance, cost and financial management, taxation, company accounts, and audit, etc. Apart from this, there are other subjects in the CMA Syllabus which you can check above.

Q) What is the minimum amount of time period needed to complete all the 3 CMA Exams?

A. Theoretically, a candidate can complete the CMA within 2-3 years after appearing for the foundation exam provided that the candidate completes all the 3 exams in only one attempt and also has 6 months of practical training. So if the candidate fulfills the other required factors, he/she can get the CMA in about 2 to 3 years.

Q) How can I get placements after completing CMA India?

A. After the candidate completes CMA India and receives the result of the final exam, he/she can fill out a placement form on the official website of the Institute of Cost Accountants India [ICAI/ICWA]. The ICAI arranges placements for CMAs every 6 months where interested applicants can participate in and apply for the jobs. In some rare cases, employers may ask the candidates for membership but usually just passing the CMA Exams is enough to get a decent job. Apart from this, ICAI also presents job opportunities for freshers and professionals on their job portal which candidates will have access to after registering.

Q) I am a working professional, can I do CMA?

A. Yes. Candidates who are working can also do CMA.In fact, completing the CMA certification may open up new doors for them. Working professionals may need to manage their time really well in order to study for the CMAs. They can directly appear for the CMA Intermediate Exam, assuming they have an undergraduate degree. If they do not have bachelor\'s degree then they will have to appear for the CMA Foundation exam. Candidates are advised to check the eligibility criteria of the CMA exams before applying.