An accountant is one who knows the cost of everything and the value of nothing .So the Indian Cost & Management Accountancy Course commonly known as the ICWA (Institute of Cost and Works Accountants of India) Course .The full form of CMA is Cost Management Accounting. The CMA India course has three stages i.e. CMA Foundation, Inter Stage and Final Stage.
Students who have passed 10th +2 are eligible for the Cost & Management Accountancy Foundation Course. The Institute of Cost Accounts of India conducts CMA exam twice in a year in the month of June and December. So, after passing the CMA foundation exam one student is eligible for the CMA Inter stage. There are about 20 papers in the CMA India course.
Details of subjects in Cost & Management Accountancy Course
There are 4 subjects for the foundation program
- Fundamentals of Economics and Management
- Law and Ethics
- Maths and Statistics
The Executive program is divided into 2 Group
Group I – 4 Subjects
- Financial Accounting
- Law Ethics and Governance
- Direct Taxation
- Cost Accounting
Group II – 4 Subjects
- Operational Management Information System
- Cost and Management Accounting
- Indirect Taxation
- Company Accounts and Audit.
The Professional program is split into 2 modules
Module I – 4 Subjects
- Corporate law and Compliance
- Strategic financial Management
- Strategic cost management & Decision Making
- Direct tax laws & International Taxation
Module II – 4 Subjects
- Corp. Financial Reporting
- Indirect Tax Laws & Practice
- Cost & Management Audit
- Strategic Performance Management & Business Valuation
Duration of Cost & Management Accountancy Course
The provisional time period for the Cost & Management Accountancy Course is:-
- Foundation Course is 36 months
- Intermediate course is 18 months
The CMA Foundation, Inter Stage and Final Stage has a fees of 4000, 20000, 17000 rupees respectively.
Career opportunities For Cost & Management Accountancy Students
However, This course has gained huge recognition in the recent times with huge career perspectives and career opportunities. The ICWA job roles after a Cost & Management Accountancy Course are financial manager, analyst, Financial Risk manager, Controller, Cost accountant, Cost manager and relationship Manager. For the intermediate course the eligibility criteria is that the student must pass the senior secondary school examination and Foundation course of the Institute of Cost Accounts of India or Must complete Graduation in any stream other than Fine Arts. Documents like Matriculation Certificate, Graduation Pass Certificate, Foundation and Intermediate course Certificate, Age proof, Signature and 12th class certificate are some of the basic requirements and documents to apply for the Final CMA in India.
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