The Cost & Management Accountant (CMA) program is designed specifically for the advanced skills required to manage finance functions within an organization, enabling you to deliver value in today’s complex business environment. It is almost like a “subset” of CPA as it focuses on management accounting. In fact, management accounting is not emphasized in the CPA exam. CMA has its value-add by specializing in cost accounting, financial analysis, and strategic planning. CMA’s play an integral role in the strategic decision-making process. Every student is required to undergo practical training for a period of 3 years on whole time basis. This article mainly covers the basics of CMA exam, Importance of CMA Training and Best CMA Training Firms in India.
Eligibility to Appear for CMA Exam:
|(a)||Candidate should have cleared Class 10 or equivalent from a recognized Board or Institution.|
|(b)||Passed Senior Secondary Examination under 10+2 or equivalent from a recognized Board or an examination recognized by the Central Government or has passed National Diploma in Commerce Examination held by the All India Council for Technical Education or equivalent.|
|(a)||Passed Senior Secondary School Examination (10+2) and Foundation Course of the Institute of Cost Accountants of India or Foundation (Entry Level) Part I Examination and Competency Level Part II Examination of CAT of the Institute|
|(b)||Passed Foundation of ICSI/Intermediate of ICAI along with 10+2.|
According to ICAI, Engineering graduates having completed IV semester/equivalent or Graduate Engineers (having qualified engineering final examination) are exempted from the following:
- CMA Foundation Course
- Two papers at the Intermediate Course under Syllabus 2016
- Paper 6 – Laws, Ethics & Governance ( LEG)
- Paper 9 – Operations Management & Information System (OMIS)
All about CMA Training :
Objectives of the CMA Practical Training:
- To learn and develop the necessary skills required to apply the plethora of cost and management accounting theories to practical situations in different professional fields.
- Better outlook on different work environments under which organizations work.
- Hands on experience of different aspects of cost and management accounting.
- Developing professional and a disciplined attitude.
- Creating better awareness of ethical values in any profession.
These are the few areas recognized by ICAI for CMA Training:
- Management Accounting
- Cost Accounting
- Financial Accounting
- Financial Management
- Regulatory compliances
- Direct Taxation
- Indirect taxation
- Corporate Laws, Industrial Laws, Commercial Laws
- Systems Analysis, Information Technology (including ERP system)
- Project Management
- Banking Operation
- Financial Services
- Teaching in Finance, Accounts, Costing, Taxation, and Management.
- Management Consultancy Services
- Engineering Services like Project Planning & Management, Quality Assessment, and Supply Chain Management.
Some of the best firms to undergo CMA training in India are:
The BIG 4 Firms for CMA Training:
- Deloitte Touche Tohmatsu Limited: Deloitte Touche Tohmatsu, popularly known as just “Deloitte” was founded by William Deloitte in 1845. It ensures a great all round exposure and learning experience.
- Ernst &Young: Ernst & Young is a global organization of member firms in more than 140 countries. The organization values knowledge and skills development, also the work done could be quite aggressive, ensuring a steep learning curve.
- Price Water Coopers(PWC): PwC is one of the world’s largest providers of accounting services, provides excellent assurance, consulting, and tax services. The work environment is quite employee friendly and has a variety of work to learn from.
- Klynveld Peat Marwick Goerdele (KPMG): KPMG is a global network of accounting firms providing audit, tax, advisory, special interest and industry-specific services, it places great value on its people and quality of service. The work quality generally depends on the capacity of the person employed. The experience and training here is quite valuable
Other Good CMA Training firms:
- Godfrey Phillips India Limited
- National Handicapped Finance and Development Corporation
- Soma Isolux Kishangarh Beawar Tollway Private Limited
- Hindustan Salts Limited
- Poddar Global Limited
- NHDC Ltd
- BDO International (Binder Dijker Otte)
- Grant Thornton International
- RSM International
- Lodha & Co.
- Sahni Natrajan & Bahl (SNB)
- Suresh Surana & Associates LLP
- Desai Haribhakti
If you want CMA Articleship in company specific to your choice or location you may visit the official website. Click here, to find CMA articleship firms.
Few Important Links for CMA students for 2022
|About CMA Course||CMA Foundation Syllabus||CMA Inter New Syllabus||CMA Final New Syllabus|
|CMA Inter Study Material||CMA Foundation Study Material||CMA Final Study Material||Best Books for CMA Final|
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