Overview
The Institute of Cost Accountants of India (ICMAI), formerly known as the Institute of Cost & Works Accountants of India (ICWAI), is a statutory professional body in India. Established in 1959 by a special Act of Parliament, it operates under the Ministry of Corporate Affairs and is responsible for regulating and developing the profession of Cost and Management Accountancy.
ICMAI sets the standards for and promotes the practice of cost and management accounting. The institute offers the Cost and Management Accountant (CMA) qualification, which consists of a three-tiered course: Foundation, Intermediate, and Final. It administers the examinations for the CMA course and issues the mark sheets and pass certificates. CMAs are eligible for a variety of roles in corporations and government, such as financial analysts, cost controllers, and internal auditors. They can also work in consultancy or hold senior leadership positions.
ICMAI is a founding member of international accounting bodies such as the International Federation of Accountants (IFAC).
The CMA Course
The CMA course offered by ICMAI is designed to provide comprehensive knowledge in financial management, costing, and business strategy. The curriculum covers various subjects, including:
· Foundation: Fundamentals of accounting, economics, and business laws.
· Intermediate: Cost accounting, direct and indirect taxation, and financial management.
· Final: Strategic financial management, corporate reporting, and business valuation.
ICMAI- CMA Highlights
|
Exam Name |
ICMAI-CMA |
|
Full Form |
The Institute of Cost Accountants of India |
|
Most popular for |
Cost and Management Accountant |
|
Level |
National |
|
Conducting Body |
ICMAI itself |
|
Mode of Exam |
Centre Based Mode |
|
Application Mode |
Offline |
|
Application form fee |
Foundation course – INR 6,000 Intermediate course – INR 23,100 Final course – INR 23,100 |
|
Medium |
English |
|
Website |
https://icmai.in/icmai/ |
Eligibility Criteria for ICMAI-CMA
For the Foundation Course:
1. Candidate must have passed the 10th standard or an equivalent examination.
2. Candidate need to be at least 17 years old to register.
3. Graduates (excluding those in fine arts) and postgraduates are exempted from the Foundation Course and can register directly for the Intermediate level.
For the Intermediate Course (Direct Entry):
1. Candidate must have completed a graduation degree or an equivalent qualification from a recognized university.
2. Candidates awaiting their degree results can apply for provisional registration but must submit their pass certificate within a specified timeframe to avoid cancellation of their registration.
ICMAI- CMA Exam Pattern
The ICMAI CMA exam pattern involves three levels: Foundation, Intermediate, and Final. Exams are held twice a year in June and December and are conducted offline, pen-and-paper based. The passing criteria is a minimum of 40% in each paper and 50% in aggregate, with no negative marking. The pattern consists of objective and descriptive questions, with a case study component in the Intermediate and Final levels.
Exam Levels & Structure
· CMA Foundation: Two papers, both online/offline OMR-based, with 100 multiple-choice questions per paper, 2 marks each.
· CMA Intermediate: Two groups with 4 papers each.
· CMA Final: Two groups with 4 papers each, designed to test practical application of concepts.
Key Features
· No Negative Marking: There is no negative marking for wrong answers.
· Offline Mode: The exams are held offline at designated centers.
· Case Study-Based Questions: Intermediate and Final exams include case studies to assess practical application.
· Question Format: A mix of objective (multiple-choice) and descriptive questions.
· Frequency: Exams are held twice a year, in June and December.
Passing Criteria
· Students must achieve a minimum of 40% in each paper.
· A minimum of 50% in aggregate is required to pass the exam.
ICMAI- CMA Exam Syllabus
The ICMAI exam syllabus is structured in three levels: Foundation, Intermediate, and Final, following the 2022 syllabus. The syllabus is divided into groups and papers at each level, covering areas such as business laws, accounting, taxation, management, and strategic aspects of business, as detailed on the official ICMAI website.
Foundation Course
This is the entry-level course and consists of the following papers:
· Paper 1: Fundamentals of Business Laws and Business Communication (FBLC)
· Paper 2: Fundamentals of Financial and Cost Accounting (FFCA)
· Paper 3: Fundamentals of Business Mathematics and Statistics (FBMS)
· Paper 4: Fundamentals of Business Economics and Management (FBEM)
Intermediate Course
The Intermediate Course is divided into two groups:
Group I
· Paper 5: Business Laws and Ethics (BLE)
· Paper 6: Financial Accounting (FA)
· Paper 7: Direct and Indirect Taxation (DITX)
· Paper 8: Cost Accounting (CA)
Group II
· Paper 9: Operations Management and Strategic Management (OMSM)
· Paper 10: Corporate Accounting and Auditing (CAA)
· Paper 11: Financial Management and Business Data Analytics (FMDA)
· Paper 12: Management Accounting (MA)
How to Apply
Step-by-step Application Process
· Visit the ICMAI Website: Go to www.icmai.in.
· Access the Student Section: Navigate to the "Students" tab and select "Admission".
· Find the Online Application Link: Click on the link for the level you are applying for (Foundation, Intermediate, or Final).
· Create a Login Account: On the application portal, create an account by entering your personal details, such as your name, date of birth, email ID, and phone number. You will then receive an application number.
· Fill Out the Application Form: Log in using your application number and password. Enter your personal information, educational qualifications (10th, 12th, and graduation details), and contact details.
· Choose Your Coaching Mode: Select your preferred coaching method, either Oral Coaching (classes at a recognized center) or Postal Coaching (self-study with materials sent by post).
· Upload Required Documents: Upload scanned copies of your passport-size photo, specimen signature, identity proof (Aadhaar card), age proof, and mark sheets for 10th and 12th grades.
· Pay the Registration Fee: Pay the applicable registration fee for the course online using a debit/credit card, net banking, or UPI.
· Submit Your Application: After successful payment, submit your registration form.
· Receive Confirmation: You will get a confirmation message on your registered mobile number and email ID upon successful submission and processing of your application.
Note:- Always refer to the official website i.e. https://icmai.in/icmai/ for the most current information and instructions.
