Recently, there has been a demand for specialists who comprehensively understand the field of management and accounting. While this knowledge can be acquired by taking management courses, one can also explore other options like Chartered Accountant, CFA course, CS, etc. One such option among many is the Certified Management Accountant course. To pursue a career in this field, you need to have a complete understanding of the CMA exam process, CMA eligibility criteria, CMA exam pattern, CMA exam dates, and much more! So, if you’re looking for information on the CMA exam, continue reading this post till the end!
Did you know?
The global average pass rate for CMA exams is not exactly great. The passing score for the first and second parts is 45%.
That’s why we mentioned that having complete knowledge of the CMA exam is crucial. The Institute of Cost Accountants, commonly referred to as ICMAI, provides a prestigious CMA course, where CMA stands for Cost and Management Accounting. In the past, this course was recognized as CWA, representing Cost and Works Accounting. Interestingly, the governing body for this course in India remained unchanged throughout this transition, with ICMAI formerly known as the Institute of Cost and Works Accountants of India (ICWAI).
For individuals interested in efficiently managing the financial aspects of multiple departments within a company and effectively integrating them to streamline costs, this CMA course is the ideal choice. This program equips students with the knowledge and skills needed to navigate the intricate realm of cost accounting and management, making them valuable assets in the corporate world. With its strong foundation in financial management, the CMA course prepares students to excel in the dynamic field of cost and management accounting.
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What is a CMA exam?
The full form of the CMA exam is the Certified Management Accountant exam. It is a prestigious and globally recognized certification for finance and accounting professionals, including Indian students. Administered by the Institute of Cost Accountants of India (ICMAI), this rigorous examination assesses candidates on their expertise in financial planning, analysis, control, and decision-making.
For Indian students aspiring to become CMAs, the CMA exam is a significant milestone in their career. Passing the CMA exam not only enhances your professional credibility but also opens doors to a wide range of career opportunities in India and abroad. CMAs are highly sought after in various industries, including manufacturing, finance, and consultancy, thanks to their strong financial management skills. The CMA designation is a testament to your expertise in cost and management accounting, making you a valuable asset in today’s competitive job market.
Highlights of the CMA exam
In this section, we will be providing you with an overview of the CMA exam:
| Particulars | Highlights |
| Course Name | CMA |
| Full Form | Cost Management Accountant |
| Conducting Board | Institute of Cost Accountants of India (ICAI) |
| Level of Exams | CMA Foundation, CMA Intermediate & CMA Final |
| Eligibility Criteria | Class 12th with any subject combination |
| Frequency of the exam | Twice a year |
| The cutoff date for Registration | Foundation/Intermediate/Final– For June Term till 31st January of the same calendar year & December Term till 31st July of the same calendar year |
| Exam Centres | 112 Exam centers (including Overseas Exam Centers) |
| Job Opportunities | Cost Accountant; Budget Analyst; Cost Controller; Financial Controller; Tax Consultant; Management Consultant; Financial Analyst; and others. |
| Prominent Recruiters | BEML; Coal India Ltd; GAIL; HUDCO; ITI Limited; Maharashtra Natural Gas Ltd.; Allahabad Bank; ANZ Bank; Apex Fund Services; KPMG; Lafarge Holcim Global; PWC; OLAM Information Services; Wipro; Jindal Steel & Power Ltd; Tata Steel; Cipla; DuPont ; and many others. |
CMA Eligibility Criteria
Cost and Management Accountancy (CMA) is a prestigious professional course that offers lucrative career opportunities in finance and management. To embark on this journey, candidates must meet specific eligibility criteria, which vary for different stages of the CMA program. Here’s a breakdown of the eligibility criteria:
Foundation Course Eligibility
To be eligible for the Foundation Course, a candidate should have:
- Passed Class 10 or equivalent from a recognized Board or Institution.
- Passed the Senior Secondary School Examination (10+2) from a recognized Board or an equivalent examination recognized by the Central Government.
- Passed the National Diploma in Commerce Examination held by the All India Council for Technical Education or any State Board of Technical Education.
- Passed the Diploma in Rural Service Examination conducted by the National Council of Rural Higher Education.
Exemptions: Candidates who have passed the Intermediate Examination conducted by the Institute of Chartered Accountants of India or the qualifying examination for direct admission to the Intermediate Course are exempted from the Foundation Course.
Intermediate Course Eligibility
To be eligible for the Intermediate Course, candidates should have:
- Passed Senior Secondary School Examination (10+2) and the Foundation Course of the Institute of Cost Accountants of India.
- Qualified for the Foundation (Entry Level) Part I Examination of the Certificate in Accounting Technicians (CAT) Course of the Institute of Cost Accountants of India.
- Degree examination from any recognized University.
- Qualified Engineers or equivalent in any subject other than music, dancing, photography, painting & sculpture.
Provisional Registration: Candidates awaiting the results of degree examinations may apply for provisional admission and have 18 months to convert from provisional to regular status.
For a complete list of qualifying examinations for direct admission to the Intermediate level refer to the official bulletin https://icmai.in/upload/Students/Syllabus2022/CMA_Prospectus_Syllabus_2022.pdf
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CMA Final Eligibility
Candidates must complete CMA Intermediate Parts 1 and 2.
Completion of training is mandatory to register for the CMA Final course.
The eligibility criteria for the CMA program ensure that candidates have a strong educational foundation and meet specific requirements before they can progress through its various stages. These criteria are designed to maintain the high standards and professionalism associated with the CMA qualification.
CMA Admission Process
The admission process for the Cost and Management Accountancy (CMA) program involves three distinct levels: Foundation, Intermediate, and Final. Each level has specific procedures and requirements. Here’s a step-by-step guide for each level of the CMA admission process:
CMA Foundation Admission Process:
The CMA Foundation is the first step towards becoming a CMA professional.
- Prospective candidates can obtain the Prospectus and Admission Form from Regional Council Offices, Chapters, Recognized Oral Coaching Centres (ROCCs), and CMA Support Centres.
- Fill out the Admission Form enclosed in the Prospectus and submit it, along with the Identity Card, to the respective Regional Council/Chapter/ROCC/CMA Support Centre.
- Foreign students should submit their forms directly to the CMA Headquarters.
- Include copies of documents verifying your qualifications and age along with the Admission Form.
- Ensure that your admission is completed at least four months before the commencement of the CMA Examination.
- Upon successful admission, you will be issued an Identification Number valid for three years, along with an Identity Card.
- Alternatively, candidates can choose to apply for admission online via the official website.
For details visit https://eicmai.in/students-new/Home.aspx
CMA Intermediate Registration Process:
The Intermediate level is the next step in your CMA journey.
- You can obtain the necessary forms from Regional Council Offices, Chapters, and Recognized Oral Coaching Centres (ROCCs).
- Fill out the Registration Form and submit it, along with the Identity Card, to the respective Regional Council Office/Chapter/ROCC/CMA Support Centre.
- Foreign students should submit their forms to the CMA Headquarters.
- Provide copies of documents validating your qualifications.
- Upon successful registration, you will receive a Registration Number.
- Pay the applicable registration fees, which are included in the total course fees.
- Ensure that your registration is completed at least four months before the commencement of the CMA Examination.
- Note that course fees, once paid, will not be refunded except in cases where the Institute does not accept your registration, subject to a 10% deduction for processing charges.
For details visit https://eicmai.in/students-new/Home.aspx
CMA Final Enrollment Process:
Enrollment for the Final Course is the last step in your CMA journey.
- Only candidates who have passed the Intermediate Examination of the Institute of Cost Accountants of India are eligible for admission to the Final Course.
- Furnish a copy of your Intermediate Pass Marksheet along with the Enrollment Form.
- Ensure that your enrollment is completed at least four months before the commencement of the CMA Examination.
- Foreign students should submit their enrollment forms to the CMA Headquarters.
- You can also choose to enroll online through the official website.
For details visit: https://cmaicmai.in/students/Home.aspx
The CMA admission process consists of these three levels: Foundation, Intermediate, and Final, each with its unique requirements and timelines. Adhering to these procedures will help you navigate the CMA Examination Process smoothly. For more information on CMA Admission Form 2024 and online procedures, visit the official CMA website.
CMA Exam Pattern
This section will provide insights into the CMA exam pattern for Foundation, Intermediate as well and Final Levels.
| Particulars | Details |
| Mode of Exam | Offline- center based |
| Types of Questions | Foundation Level – Multiple Choice Question (MCQ) Intermediate & Final Level – Descriptive |
| Number of papers | Foundation Level – 4 papers Intermediate & Final Level – 2 Groups – 8 papers (4 papers in each group) |
| Maximum Marks per paper | 100 marks on each paper at each level |
| Exam Duration | Foundation Level – 2 hours Intermediate & Final Level – 3 hours per paper |
| Language | Both English & Hindi |
CMA Course fees
The overview of CMA admission/registration/enrollment fees for foundation, intermediate, and final levels is mentioned below:
FOUNDATION
| Particulars | Amount | Remarks |
| Foundation | Rs. 6000 | Payable on or before 31st January for the June term and 31st July for the December term of examinations |
INTERMEDIATE
- Option 1
| Particulars | Amount | Remarks |
| Intermediate | Rs. 23100* | Payable on or before 31st January for the June term and 31st July for the December term of examinations |
- Option 2
| Particulars | Amount | Remarks |
| Intermediate | ₹ 12,000/- (1st Installment) ₹ 11,100/- * (2nd Installment) | 1st Installment to be paid at the time of Registration into Intermediate course; and 2nd Installment is to be Payable on or before 31st January for the June term and 31st July for the December term of examinations |
*It includes Skill Training Facilitation fees of ₹ 1,100/-.
Key Notes:
- To appear in Intermediate exams, the 2nd Installment of ₹11,100 must be paid by January 31st (for June exams) or July 31st (for December exams).
- If the 2nd installment isn’t paid within the deadline, installment options are available for the next 3 consecutive terms.
- Payment by the cutoff dates (Jan 31st or July 31st) is mandatory; no exceptions are allowed.
- Failure to meet payment deadlines results in forfeiture of the 1st installment.
- Paying the 1st installment provides study materials for both groups and the option for coaching in either Group I or II.
- The 2nd Installment makes students eligible for coaching in the remaining group and other applicable training, including “Skills Training.”
FINAL
- Option 1
| Particulars | Amount | Remarks |
| Intermediate | Rs. 25000 | Payable on or before 31st January for the June term and 31st July for the December term of examinations |
- Option 2
| Particulars | Amount | Remarks |
| Intermediate | ₹ 15,000/- (1st Installment) ₹ 10,000/- (2nd Installment) | 1st Installment to be paid at the time of Registration into the Final course; and 2nd Installment is to be Payable on or before 31st January for the June term and 31st July for the December term of examinations |
Key Notes:
- To be eligible for the Final examinations, the 2nd installment of ₹10,000/- must be paid by January 31 for the June term and July 31 for the December term.
- If the 2nd installment is not paid within the prescribed time, the facility is available for the next 3 consecutive terms, with the same cutoff dates.
- Payment of the 2nd installment is mandatory for appearing in the FINAL Examination.
- Failure to pay the 2nd installment within the specified deadlines results in forfeiture of the 1st installment.
- After the 1st installment, students receive study materials for both groups and can choose oral/postal coaching for either Group III or IV.
- After the 2nd installment, students can opt for coaching for the other group and additional training as required.
CMA Exam Date 2023
ICAI’s Foundation, Intermediate, and Final courses offer year-round registration opportunities. To appear in the June term exam, apply by January 31, and for the December term, apply by July 31 of the respective year. Timely registration ensures eligibility for your desired exam session.
Here’s the exam schedule for December 2023 and June 2024 exams:
CMA December 2023 Exam
Here’s the exam schedule for the December 2023 Exam:
Foundation Course Examination
| Day & Date | Foundation Course Examination |
| Sunday, 17th December, 2023 | Time 10.00 A.M. to 12.00 Noon. Paper – 1 & 2 (200 Marks) Time 2.00 P.M. to 4.00 P.M. Paper – 3 & 4 (200 Marks) (50 Multiple Choice Questions for each paper) |
Intermediate Level Examination
| Day & Date | Intermediate Course Examination (Time 2.00 P.M. to 05.00 P.M.) |
| Sunday, 10th December, 2023 | Business Laws and Ethics (P-05) |
| Monday, 11th December, 2023 | Operations Management and Strategic Management (P-09) |
| Tuesday, 12th December, 2023 | Financial Accounting (P-06) |
| Wednesday, 13th December, 2023 | Corporate Accounting and Auditing (P-10) |
| Thursday, 14th December, 2023 | Direct and Indirect Taxation (P-07) |
| Friday, 15th December, 2023 | Financial Management and Business Data Analytics (P-11) |
| Saturday, 16th December, 2023 | Cost Accounting (P-08) |
| Sunday, 17th December, 2023 | Management Accounting (P-12) |
Final Level Examination
| Day & Date | Final Course Examination (Time 10.00 A.M. to 01.00 P.M.) |
| Sunday, 10th December, 2023 | Corporate and Economic Laws (P-13) |
| Monday, 11th December, 2023 | Cost and Management Audit (P-17) |
| Tuesday, 12th December, 2023 | Strategic Financial Management (P-14) |
| Wednesday, 13th December, 2023 | Corporate Financial Reporting (P-18) |
| Thursday, 14th December, 2023 | Direct Tax Laws and International Taxation (P-15) |
| Friday, 15th December, 2023 | Indirect Tax Laws and Practice (P-19) |
| Saturday, 16th December, 2023 | Strategic Cost Management (P-16) |
| Sunday, 17th December, 2023 | Electives (Any one of three Papers) : Strategic Performance Management and Business Valuation (P-20A) Risk Management in Banking and Insurance (P-20B) Entrepreneurship and Start-up (P-20C) |
CMA June 2024 Exam (Tentative)
Since the entrance exam dates for June 2024 have not been announced yet but for your understanding here’s an overview of important dates of the CMA exam 2024 based on 2023 exam dates.
Foundation Course Examination
| Day & Date | Foundation Course Examination |
| Sunday, 16th July, 2024 | Time 10.00 A.M. to 12.00 Noon. Paper – 1 & 2 (200 Marks) Time 2.00 P.M. to 4.00 P.M. Paper – 3 & 4 (200 Marks) (50 Multiple Choice Questions for each paper) |
Intermediate Level Examination
| Day & Date | Intermediate Course Examination (Time 2.00 P.M. to 05.00 P.M.) |
| July 2024 | Business Laws and Ethics (P-05) |
| July 2024 | Operations Management and Strategic Management (P-09) |
| July 2024 | Financial Accounting (P-06) |
| July 2024 | Corporate Accounting and Auditing (P-10) |
| July 2024 | Direct and Indirect Taxation (P-07) |
| July 2024 | Financial Management and Business Data Analytics (P-11) |
| July 2024 | Cost Accounting (P-08) |
| July 2024 | Management Accounting (P-12) |
Final Level Examination
| Day & Date | Final Course Examination (Time 10.00 A.M. to 01.00 P.M.) |
| July 2024 | Corporate and Economic Laws (P-13) |
| July 2024 | Cost and Management Audit (P-17) |
| July 2024 | Strategic Financial Management (P-14) |
| July 2024 | Corporate Financial Reporting (P-18) |
| July 2024 | Direct Tax Laws and International Taxation (P-15) |
| July 2024 | Indirect Tax Laws and Practice (P-19) |
| July 2024 | Strategic Cost Management (P-16) |
| July 2024 | Electives (Any one of three Papers) : Strategic Performance Management and Business Valuation (P-20A) Risk Management in Banking and Insurance (P-20B) Entrepreneurship and Start-up (P-20C) |
CMA Exam Fees
For candidates planning to pay their CMA examination fees, there are two distinct procedures based on their location. Those within India can conveniently pay their fees through a bank challan from IDBI bank’s pay-fee module. After filling out the online examination form, applicants can obtain the bank challan printout, facilitate payment at their nearest IDBI branches, and ensure they meet the due date.
However, for students opting for overseas examination centers, an offline approach is required. These candidates must download the examination application forms from the official Institute website, www.icmai.in. Subsequently, they need to send a Demand Draft (DD) along with the completed form. The DD should be in favor of ‘The Institute of Cost Accountants of India’ and should be payable to Kolkata. This tailored approach ensures that candidates from various locations can seamlessly complete their examination fee payment.
| Centers in India (Rs.) | Centers in India (Rs.) | Overseas Centers (US $) | |
| Examination | Single Group | Both Groups | Single / Both Groups |
| Foundation | 1200 | – | 60 |
| Intermediate | 1200 | 2400 | 90 |
| Final | 1400 | 2800 | 100 |
Please note: Candidates who are admitted to an examination should be aware that the fees they pay are generally non-refundable unless specified otherwise. However, there is an exception. If a candidate can provide documentary evidence showing that they were unable to attend an examination due to circumstances beyond their control, they may be permitted by the Institute to transfer the examination fee towards the next examination. It’s important to note that such requests must be submitted within 15 days from the last date of the examination to be considered.
CMA Exam Result
Are you eagerly awaiting your CMA (Certified Management Accountant) exam results? Here’s everything you need to know about checking your results and understanding the pass percentages.
Checking Your CMA Results
Follow these simple steps to access your CMA exam results on the official website:
- Go to https://icmai.in/studentswebsite/index.php
- Click on the “Examination” tab.
- From the dropdown menu, choose the “Result” option.
- Click on the specific exam you appeared for.
- Input your identification number and click on “View Result.”
- Your CMA exam result will appear on the screen.
Understanding CMA Pass Percentages
CMA exams are known for their rigor, and achieving a passing score is a significant accomplishment. Here are the pass percentages for different CMA exams in the previous attempt:
- Foundation: 75.88%
- Intermediate
- Group I: 40.76%Group II: 65.24%Passed in either one of the groups: 13.82%
- Passed in both the groups: 51.63%
- Final
- Group III: 34.02%Group IV: 57.13%Passed in either one of the groups: 31.90%
- Passed in both groups: 38.45%
These pass percentages provide valuable insights into the CMA exams’ difficulty and competition. Regardless of your results, remember that dedication, hard work, and determination are the keys to success in the CMA journey. If you didn’t achieve your desired outcome this time, don’t be discouraged—learn from your experience and strive for improvement in your next attempt.
Final Words!
The Certified Management Accountant (CMA) exam, administered by the Institute of Cost Accountants of India (ICAI) is a prestigious and globally recognized certification for finance and accounting professionals. With its rigorous assessment of financial planning, analysis, control, and decision-making skills, the CMA designation opens doors to lucrative career opportunities in various industries. This comprehensive guide has covered the CMA eligibility criteria, admission process, exam pattern, fees, and important dates. Aspiring CMAs must recognize the dedication and effort required to excel in these exams, as evidenced by the pass percentages, and approach their journey with determination and resilience. Success in the CMA exam can be a significant milestone in one’s professional career.
So, want to embark on your career in this field? Looking for expert guidance in choosing the right course after the 11th and 12th? Look no further than iDreamCareer! Our comprehensive career guidance product provides personalized insights, aptitude assessments, and expert counseling to help you make informed decisions. With our in-depth knowledge of experts, you can select the right course and college. Our experts will assist you in selecting the perfect path for your future. Visit our website iDreamCareer to embark on your journey towards a successful career!
CMA Exam: FAQs
The CMA exam stands for Certified Management Accountant examination. It is a professional certification exam for individuals pursuing a career in management accounting.
To be eligible for the CMA exam (foundation level) student must have completed class 12th with 50% marks. For the CMA exam (intermediate level) a student who has done bachelor’s degree is eligible for direct admission. Check the above section for the complete information about CMA exam eligibility criteria.
The choice between pursuing a CMA (Certified Management Accountant) or CA (Chartered Accountant) depends on your career goals. CMA is focused on management accounting and is ideal for those interested in corporate finance and planning. CA, on the other hand, offers a broader spectrum of opportunities in auditing, taxation, and financial advisory. Choose based on your specific career aspirations.
The CMA (Certified Management Accountant) Exam is conducted offline, featuring multiple-choice questions (MCQs) at the Foundation Level and descriptive questions at the Intermediate and Final Levels. The Foundation Level comprises four papers, while the Intermediate and Final Levels each consist of two groups, totaling eight papers (four in each group). The exam duration varies, with the Foundation Level papers taking 2 hours and the Intermediate and Final Level papers requiring 3 hours each. This format ensures a comprehensive evaluation of candidates’ knowledge and skills in management accounting.
Preparation typically involves studying CMA review materials, joining a CMA review course, and dedicating significant time to review and practice questions. It’s essential to create a study plan and stick to it.
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