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Cost and Management Accounting

Q. 1 What is C.M.A?
Ans. CMA stands for Cost and Management Accounting ,Institute of Cost and Management Accounting of India (ICWAI) is a premier,dynamic,vibrant professional institution actively associated in providing training programs in the field of Cost and Account Management and thereby helping in the industrial and economic development of the nation.

Q. 2 What are the stages involved in CMA Programme?

  • CMA Foundation

  • CMA Intermediate

  • CMA Final

Q. 3 What is the eligibility for CMA Programme?

  • A candidate should be 12th pass or appearing with any disciplines for foundation course.
  • Foundations pass or Graduate with any discipline for executive course.

Q. 4 What is the examination scheme for CMA-Foundation/Intermediate/Final examination?
Ans. CMA-Foundation: Foundation course comprises of following 4 Subject of 100 marks:

  • Organization and Management
  • Financial Accountancy
  • Economics & Business Fundamental
  • Business Mathematics and Statistics

Minimum 50% Marks in aggregate and 40% marks in individual Subject are required to pass the exams.

CMA-Intermediate: Intermediate course consists of 2 groups of 4 papers each of 100 marks
• Minimum 50% aggregate of marks and individual 40% marks in each subject is required to clear a group.

CMA-Final: Final course consists of 2 groups of 4 papers each of 100 marks
• At least 50% marks are required to pass the exams, aggregate in the both the session.

Practical Training
• Every registered student has to undergo a practical Training for 3-years.

Q. 5 When the CMA Exam is held?
Ans. CMA examination is held twice in a year i.e., in June & December.

Q. 6 Does CMA exam assume a certain level of accounting and business knowledge?
Ans. Yes assumed knowledge includes economics, basic statics & financial accounting. Prior courses in finance and accounting are highly recommended.

Q. 7 Why the CMA programme is so significant?
Ans. CMA is so significant mainly because of three reasons which are as follows:

  • Focused: On the critical skills you use in the business.
  • Valued:CMA earns higher than non-certified professionals.
  • Respected: Leading employers seek to hire and promote CMA’S.

Q. 8 What are the career opportunities for CMA?
Ans. The CMA Designation Opens up Limitless and Exciting Career Possibilities. As a CMA, one has diverse career options available. With positions across all busi¬ness areas, CMAs work across a wide array of business functions, including Accounting and Finance, Sales and Marketing, Operations, Strategic Planning and Analysis, Information Technology and Human Resources. A CMA’s Strategic Management and Accounting skills are transferable to a wide range of industries. CMAs work in virtually every industry sector.