The CMA program, which means Cost Management Accounting, is one of the financial sector’s most viable programs. The CMA course will be a perfect choice for someone who dreams of making it big in the management accounting industry. The program has recently become a very common option among trade students or those who aspire to enter the field of commerce.
Cost Management Accountants (CMA) are people who can change information into discourse, bring key reasoning, and apply work insight. CMA is the recorded construction course for the aspirants to seek after the twelfth standard exams.
CMA program means the upgradation of a person’s information in the zones that emphasize monetary arranging, control, proficient morals, choice help, and investigation. A Cost Management Accountant is a person who has an exact and complete comprehension of the board bookkeeping standards.
Cost Management Accounting is a credential program designed to prepare students in various sectors and organizational functions for their jobs. The CMA course certificates are given in India by the Institute of Cost Accountants of India (ICAI). The program focuses primarily on valuation issues, review of financial statements, policies on working capital, external financial reporting, etc.
CMA Eligibility and the subjects in each Level
It is a great career step to go for the CMA certification, particularly when you aspire to make it big in the area of accounting management. But it is crucial that you know every detail about the course, qualifications, exam structure, salaries, and the opportunities it would bring before getting into it.
Students must complete three stages of CMA exams – the CMA Foundation, CMA Inter, and CMA Final – in order to be a CMA. For the CMA Foundation exams, students who have passed their + 2 exams are eligible.
In the months of June and December, ICAI conducts the CMA foundation review twice a year. You are excluded from the ICMAI Foundation tests if you have a graduate degree.
CMA Foundation eligibility
A student should have completed the +2 exams.
CMA Intermediate eligibility
Students should have completed +2 and the foundation course for CMA India.
Completed graduation in any stream other than Fine arts
Foundation Entry level Part I exam of CAT
Passed Foundation of ICSI/Intermediate of ICAI along with 10+2
Paper 1: Fundamentals of Economics and Management
Paper 2: Fundamentals of Accounting
Paper 3: Fundamentals of Laws and Ethics
Paper 4: Fundamentals of Business Mathematics & Statistic
Paper 15- Business Strategy & Strategic Cost Management
Paper 16- Tax Management and Practice
Paper 17- Strategic Performance Management
Paper 18- Corporate Financial Reporting
Paper 19- Cost and Management Audit
Paper 20- Financial Analysis & Business Valuation
CMA Course Duration
The general span for the CMA course choice is adaptable, which shows that the absolute time taken to finish the CMA program relies upon the aspirant’s degree of commitment and core interest. CMA certificate requires at least a half year. The Institute of Management Accountants gets a period of 3 years that begins from the date of enrollment till the fulfillment of the confirmation.
Qualified applicants can show up for phase 1 and phase 2 assessments in the accompanying time span:
i. January or February
ii. May or June
iii. September or October
What is the role of a CMA?
The primary task of the CMA is to use its financial and accounting knowledge to advise business policy, along with its strategic planning, performance management, and decision-making abilities. CMAs may operate in a wide variety of sectors, including corporate finance or accounting companies, government agencies, educational institutions or large corporations.
The allocation, control, and supervision of funds in any company is the responsibility of a CMA or a Cost and Management Accountant. An Accountant of Cost and Management is someone who performs these duties. A career as a CMA is a satisfying one which is both well paying and honourable. There is a range of reasons to consider a career in CMA.
CMA Course Career Prospects
Organizations need professionals like Cost Accountants (CMAs) in this globalized environment who have advanced knowledge of business strategy and value development. The Cost Accountant is the basis on which the companies are founded, and the Institute’s advanced education and training makes the Cost Accountant a multi-faceted professional.
There is never a shortage of work or career opportunities and there is also no shortage of industries for the CMA specialist. A CMA is required by nearly every industry. Cost accountants in the public and private industries, banking and finance are always in high demand,
In the domestic as well as the global market, the CMA certification opens up a lot of doors for you. It will allow you to develop your financial, accounting, and management skills, which will increase your career opportunities and help you stand out from the rest.
As far as the private sector goes, these are just a few of the many work avenues through which you may seek jobs. You will function in the all-India system in the government sector – ICoAS, which is the service for Indian Cost Accounts and is as prestigious as the IAS, IPS and IFS civil service posts.
CMA Certification offers higher status and validity in the accounting Industry. CMA Certification opens a plenty of chances for people in the hometown just as in the worldwide market. An individual gifted with CMA mastery will encounter improved bookkeeping and monetary abilities that will extend a person’s vocation possibilities and lets him/her sparkle in his or her accomplishments.
CMA Certification gives an individual a lot of choices making him an expert in an organization. A CMA affirmation holder seats among the pioneers and business drivers. The confirmation course additionally gives worldwide acknowledgment and open ways to immense openings as:
i. Chief Financial Officer
ii. Financial Controller
iii. Cost Accountant
iv. Finance Manager
v. Financial Analyst
vi. Financial Risk Manager
Prospects of a CMA Certificate Holder
In India, as a fresher of the CMA Certificate holder, an individual acquires around ₹5-7lakhs per annum dependent on your industry or the corporate organization. The normal compensation an individual gets as a Chief Financial Officer is around ₹4 Million for each annum. As an accomplished CMA professional, you can procure better when contrasted with a fresher.
In the finance sector, Cost Management Accounting (CMA) is one of the most viable systems. Takshila Learning provides CMA Video Lectures which can be browsed any number of times. The CMA Online Classes and CMA Pen drive Classes given by Takshila Learning are conducted by a competent faculty for the entire syllabus approved by ICMAI for the June/Dec Session CMA Exam.
Together with CMA Study Material CMA Mock Tests, our sequential CMA Video Lectures can also be browsed and the brainstorming quizzes will give you a thorough understanding of the concepts that will enable you to score well in your CMA Exam Preparation.
You can access our CMA Video Lectures at anytime, anywhere, and on any computer. As per your requirement, you can choose between CMA Online Classes and CMA Pen drive classes to prepare for the CMA Exam through your Smartphone/laptop/desktop or even while traveling with utmost ease sitting at your home/office/anywhere.
Takshila learning helps you fly high in the finance sector through its CMA advantage