About the course
Cost Management Accounting (CMA), a form of accounting is presumed to be inevitable in every company to enhance its profitability by making estimations on how to manage, control and avoid unnecessary expenses. The detailed information provided by the CMA helps its management to make decisions that are conducive not only for the profitability but also for the long-term growth the company.
CMAs are characterized by short duration and affordable study costs compared to other similar professional courses. Besides good deal opportunities in the private sector, CMA also offer a great opportunity to take it as an independent career.
Cost Management Accounting is a three-tier course conducted by the Institute of Cost Accountants of India (ICAI). The three levels of the course are Foundation, Intermediate and Final.
Aspirants who have completed Class Tenth can register for the Foundation Course and can commence their studies but for appearing for the CMA examination, students must have passed Class Twelfth or an equivalent examination. Graduates and those who have completed Certificate in Accounting Technicians (CAT) Level 1 conducted by ICAI can directly join the Intermediate course.
Cost management accountants are accountable for the functions like cost planning, internal cost audits, investment analysis and fund management for the manufacturing division of an industry. define The services of CMAs are defined by both GST law and Company law. Apart from the huge potential in the private sector, the Indian Coast Accountancy Service (ICoAS) also exists in the public sector together with IAS and IFS.
Some of the job opportunities for CMA are:
Teaching jobs under U.G.C law
- Chief Financial Officer (CFO)
- Budget Analyst
- Senior Accountant
- Director of Finance
- Financial Controller
- Cost Controller
- Chief Internal Auditor
In addition, CMA also holds an opening in banks and other financial institutions. It even provides an opportunity to practice the careers on their own and thereby expanding their own ventures.
CMA Articleship / Internal Training Period 15 months
Time taken to complete the course
Aspirants who have completed Class Twelfth can complete the course in three and a half years while graduates can complete it in three years.