Essential Information to Know About CMA
The highest level of management accounting qualification, the CMA or Certified Management Accountant, serves as a global passport for accountants and finance professionals.
The intending candidate must be a member of the Institute of Management Accountants to be considered for CMA Certification (IMA). The candidate must have a Bachelor’s degree from an accredited university in any discipline. They must have two years of professional experience in management accounting or financial management and knowledge in these areas. Finally, the candidate must pass both parts one and two of the CMA course test.
Admissions information for the CMA program
Admission to the ICAI foundation course is available throughout the year. Students who wish to sit for the June Term Examination must apply by the 31st of January of that year, and students who wish to sit for the December Term Examination must apply by the 31st of July of that year.
Any time during the year, you can apply for the CMA Foundation course. Admission to the CMA Foundation can be made both online and offline. You can apply for admission online. To apply for offline admission, go to your chapter’s website (branch). Take a look at the entire address list: Addresses of CMA Chapters and Regional Offices.
A CMA’s future career prospects are as follows:
- CMA professionals have a promising future and a promising career ahead of them. This is because the standard and certification are worldwide recognized and accepted, allowing specialists to work in other countries.
- The pay scale is very lucrative. The qualification is advantageous, particularly in the current market and trading environment, where concepts like outsourcing, off-shore development, globalization, and FDIs are essential.
- CMAs are in great demand in all types and sizes of businesses because they can comprehend the inner workings of finance and accounting in a way that is crucial to the company’s growth and development.
Subjects of CMA
The CMA course has four papers.
Paper 1: Economics and Management Fundamentals
Paper 2: Accounting Fundamentals
Paper 3: Legal and Ethical Foundations
Paper 4: Business Mathematics and Statistics Foundations
Subjects for CMA Inter / CMA Intermediate
In CMA Inter, there are eight papers.
Intergroup 1 of the CMA
Paper 1: Financial Accounting
Paper 2: Legal & Ethical Issues
Paper 3: Direct Taxation
Paper 4: Cost Accounting
Intergroup 2 of the CMA
Paper 5: Strategic Management and Operations Management
Paper 6: Financial Management and Cost & Management Accounting
Paper 7: Indirect Taxation
Paper 8: Company Accounts & Audit
Final CMA Subjects
There are eight papers in the CMA Final.
Final Group 3 of the CMA
Paper 1: Corporate Laws and Compliance
Paper 2: is about financial management of strategy.
Paper 3: Decision Making in Strategic Price Management
Paper 4: International Taxation and Direct Tax Laws
Final Group 4 of the CMA
Paper 5: Business Financial Reporting
Paper 6: Indirect Tax Laws and Practice
Paper 7: Audit of Costs and Management
Paper 8: Business Valuation and Strategic Performance Management
The CMA course is gaining a lot of traction among commerce students, especially those who wish to pursue a cost and management accounting career.
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