Overview
The Certified Management Accountant (CMA) course is a globally recognized certification that demonstrates competence in the essential skills of management accounting. The CMA course has three components: ethics, business literacy, and applied professional accounting knowledge. It is one of four certification programs offered by the Institute of Cost Accountants of India (ICAI).
If we talk about the CMA course Details 2024 then it is a two-year (Minimum 8 months Intermediate: Minimum 10 Months Final: Minimum 18 Months) program that provides students with the knowledge and skills they need to be competent managers in the health care industry. The program is designed for individuals who have completed their undergraduate studies or are currently enrolled in an accredited college or university, and are interested in pursuing a career as a healthcare manager. The curriculum of the CMA course is divided into six major areas: finance, human resources management, information management, marketing, operations management, and strategic planning.
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Highlights!
The Certified Management Accountant (CMA) is a designation awarded to professionals who pass the CMA exam. The CMA is recognized around the world as a symbol of excellence in management accounting and is often considered one of the most prestigious certifications in the business world.
| Course Name | ICWA CMA Course |
| Full-Form | The Institute of Cost & Works Accountants of India – Cost Management Accounting course |
| Conducted By | Institute of Cost Accountants of India |
| Duration | Foundation: Minimum 8 months Intermediate: Minimum 10 Months Final: Minimum 18 Months |
| Fee Structure | Foundation: 4,000 INR Intermediate (With Instalment): 20,000 INR Intermediate: (Without Instalment): 12,000 INR (1st Instalment); 8,000 INR (2nd Instalment) Final: 17,000 INR |
| ICWA CMA Salary Details | 3 Lakhs to 4 Lakhs p.a. $53k per annum |
| Website | https://icmai.in/ |
Eligibility Criteria
The eligibility conditions for the ICWA course differ with respect to the Foundation or Intermediate program. Take a look at the table below which lists the specific requirements.
ICWA CMA Foundation:
Must have passed 10th class or equivalent from a recognized Board/College/University
- Must have passed Senior Secondary Examination as per 10+2 pattern from a recognized Board,
Or
Passed an examination recognized under the Central Government as equivalent
Or
Qualified National Diploma in Commerce Examination conducted by All India Council for Technical Education [AICTE] or a State Board of Technical Education under AICTE
Or
Completed Diploma in Rural Service Examination conducted under the authority of the National Council of Higher Education.
Note: those who are waiting for the final exam results are also eligible for admission.
ICWA CMA Intermediate
Completed his 10+2 Senior Secondary examination as well as the Foundation Program provided by ICAI
Or
Possessed a Bachelor’s degree in any subject or subject except ICAI’s CAT exam or Part I exam as well as qualifying level, i.e. Fine Arts or Foundation (Entry Level-Part I) of Part II of ICAI’s CAT exam.
ICWA CMA Final
Applicant should have 10+2. Must pass
Bachelor’s degree in any field except fine arts
Must have passed all the papers of Intermediate course
ICWAI Syllabus
The ICWAI CMA (Certified Management Accountant) is the first level of the CA (Chartered Accountancy) and is an internationally recognized accounting qualification. The course consists of two parts: the CMA Part I and the CMA Part II. Both parts of this course must be passed to qualify as a CMA.
To qualify for the course, students need to pass the following exams:
ICWA Syllabus: Foundation
| Paper Number | Subject |
| Paper 1 | Fundamentals of Economics |
| Paper 2 | Fundamentals of Accounting |
| Paper 3 | Fundamentals of Law and Ethics |
| Paper 4 | Business Mathematics and Statistics: Fundamentals |
ICWA Syllabus: Intermediate
| Paper Number | Group 1 | Paper Numbr | Group 2 |
| Paper 5 | Financial Accounting | Paper 9 | OMSM: Operations and Strategic Management |
| Paper 6 | Law & Ethics | Paper 10 | Cost & Management Accounting/Financial Management |
| Paper 7 | Direct Taxation | Paper 11 | Indirect Taxation |
| Paper 8 | Cost Accounting | Paper 12 | CAA: Company Accounts & Audit |
ICWA Syllabus: Final
| Paper Number | Group 3 | Paper Number | Group 4 |
| Paper 13 | Corporate Law & Compliance | Paper 17 | Corporate Financial Reporting |
| Paper 14 | SFM: Strategic Financial Management | Paper 18 | Indirect Tax Laws, Practice |
| Paper 15 | SCMD: Strategic Cost Mgt: Decision Making | Paper 19 | Cost & Management Audit |
| Paper 16 | Direct Tax Laws; International Taxation | Paper 20 | SFP: Strategic Performance Mgt & Business Valuation |
ICWA CMA Course Admission Process
Admission to the ICWA course is implemented under two routes, Direct Admission and Foundation Course. The following paragraphs throw more light on the process of each entryway.
Through Direct Entry
Candidates must fulfill the following conditions to get direct admission to the ICWA course 2024
- Bachelor in any discipline other than Fine Arts
- CMA/ICSI Foundation/ICAI Intermediate Qualified CAT
- For subsequent steps see “Register to Intermediate Course [Val/Post]” on the website.
Through Foundation Course
Candidates need to follow certain steps when applying for the ICWA Course through the Foundation route. These have been tabulated below:
| Passed Class X-Eligible for Admission in Foundation Course |
| Passed Class XII-Eligible to Appear in Exam |
| Qualify Foundation Exam |
| Register to Intermediate Course [Oral/Postal] |
| 1. Complete Communication & Soft Skill (CCS) Training- 3 days 2. Complete Computer Training-100 hours |
| Eligible to appear in Intermediate Exam (Both Groups) |
| Qualify Intermediate Exam |
| 1. Complete Industry Oriented Training Programme (IOTP)-7 Days 2. Complete Practical Training-3 years (6 months mandatory) |
| Eligible to Appear in Final Exam (Both Groups) |
| Complete Modular Training-15 days Complete Practical Training-3 years |
| Apply and Become a Member of the Institute |
ICWA CMA Fees Structure 2024
ICWA course fee is different for each exam level and ICMAI also provides an opportunity to the students to pay the course fee in advance for the intermediate level. Below we have provided the complete fee structure for each level from the table below, so check the fee structure details from the below section.
| Level | Fee | Submission Deadline |
| Foundation | 4,000 INR | On or before January 31 for the June session or July 31 for the December session |
| Intermediate (With Instalment) | 20,000 INR | On or before January 31 for the June session or July 31 for the December session |
| Intermediate (Without Instalment) |
12,000 INR (1st Instalment)
8,000 INR (2nd Instalment) |
1st instalment at the enrolment into the intermediate course
On or before January 31 for the June session or July 31 for the December session |
| Final | 17,000 INR | On or before January 31 for the June session or July 31 for the December session |
Career Scope in ICWA
The ICWA program is a great way to learn about working in a variety of fields. Most of the work positions are in the fields of education, medicine, and business. In addition, ICWA has a wide range of intern positions. ICWA is designed to give the students a broad knowledge and understanding of the international world in a hands-on way.
You can also set up your own consulting firm or start your own firm. Many of the firms offer you a work opportunity in their firm which might not be available in the corporate sector. They may require you to invest in specific skills and training, and this can be paid back through a higher salary and additional benefits. You will find that some firms will offer you work in a specific area, such as risk management, operational or information technology.
You can find out the key career profiles here after successfully completing the ICWA course:
- Cost Accountant
- Finance Director
- Chief Internal Auditor
- Managing Director
- Financial Consultant
- Cost Controller
- Accountant
- Financial Controller
ICWAI Salary Details
Career growth in the field of the Institute of Cost Accountants of India has been a dynamic process. It has been shaped by several changes and the roles of the public servants themselves. Career growth and salaries in the public sector are evolving. There have been many changes in the public sector in the last few decades.
As a fresher, starting salary can be anywhere between INR 4,00,000- 5,00,000. Whereas, senior level CMAs with sufficient experience earn Rs 10,00,000- 12,00,000.
Top Recruiters
The Institute of Cost Accountants of India (ICWAI) has a very unique and specific course in the field of Accounting and Costing. It is called the ICWA CMA, which stands for “Certificate in Management Accounting”. The ICWA CMA course is a one-year program that focuses on training students to become professional managers who will be able to take cost-effective decisions. The top recruiters for this course are from the field of manufacturing, banking, retail, consulting, and many more. Let’s have to look at more Recruiters organizations below.
- Micro Inks Limited
- Reliance Industries Limited
- ITC Limited
- Saint-Gobain
- Yes Bank
- Vedanta
- GAIL
- ONGC
- Nestle
- Inext Infotech Services
- Kotak Mahindra Bank Limited
- Berger Paints
- JK Paper Limited
- Aparna Carbons Private Limited
- Prism Cement
- Zexus Air Services Pvt Ltd
- Government and Private Institutions
- ALTRET Industries Pvt. Ltd
FAQs!
What is the ICWA course?
ICWA course is a cost management accounting course offered by ICAI. It is divided into three levels, i.e. Foundation, Intermediate and Final.
What is ICWA course duration?
The overall minimum duration of the ICWA course is 36 months, ie.
- Foundation: 8 months
- Intermediate: 10 Months
- Last: 18 Months
Is CMA and ICWA same?
Yes, both are the same. The full form of CMA course in Cost Management Accounting Course. ICWA has been renamed as CMA Course by the Institute of Chartered Accountants of India.
How can I apply for ICWA course?
To apply for the ICWA course, visit the ICAI official website (https://icmai.in/icmai/) by signing up, adding all the key details, and uploading your academic transcripts and other documents.
Final Words!
A Certified Management Accountant (CMA) is a professional designation given to individuals who have met the education and experience requirements of the Institute of Management Accountants (IMA), one of the largest global associations for management accounting professionals. The CMA designation is recognized by more than 150 countries worldwide and is a globally-recognized benchmark in business and finance.
We hope that the ICWA CMA Course details provided above will definitely be helpful to you. If you are willing to take part in this exam then the information given above will definitely help you a lot. If you have any other query then comment in the below section. To get an education blog regularly like this then stay tuned with this https://www.spinoneducation.com/website.