Total CMA in India, Career Opportunities for CMA in Future
CMA (Cost and Management Accounting) is a professional certification awarded by ICMAI (The Institute of Cost Accountants of India). As of August, the total number of CMAs in India stands at 89,700.
Similar to CA, the CMA course is considered challenging due to its similarity in syllabus content with CA. The CMA course primarily encompasses:
- Costing
- Management Accounting
- Financial Management
- Taxation
- Law
- Auditing Ethics
Course Structure of CMA
CMA Course is divided in 3 Parts,
- Foundation Curriculum
- Intermediate Curriculum
- CA Final Curriculum
Articleship
CMA students are also required to undergo articleship for a minimum of 10 to 15 months under the practicing CMA or CA before they can fill out the exam form for the CMA Final.
Total Cost for CMA Course
The total cost for registering in the CMA Course is Rs. 53,000, exclusive of exam fees and training programs.
The foundation fee is Rs. 6,000, while the intermediate and final stages cost Rs. 22,000 and Rs. 25,000, respectively. For both the intermediate and final stages, there is an option to pay the fees in installments.
Career Opportunities for CMA In Future
CMA's have many career options to choose, Either they go for Job in the field of
- Cost & Management Accounting
- Financial Management
- Financial/Business Analyst
- Systems Analyst & Systems Management
- Auditing, Internal Control
- Tax Management
- Capital Market Analyst, Fund Manager,
Portfolio Analyst - ERP Implementation
- Process Analysis in BPO/KPO Sector
- Implementing Business Intelligence Systems
Either Academic Field,
- Professors in Accounting & Finance
- Opportunities for pursuing Ph.d
or Either In Practice field,
- Management Consultancy
- Internal Audit
- Stock Audit and Concurrent Audit
- Cost Audit
- GST Audit & Consultancy
- Tax and Accounts Consultancy
- Project Management
- Insolvency Professional
- Registered Valuer
Is there any Campus Placement opportunity in CMA Course?
Yes, ICMAI also provides campus placement to their students, The Famous Companies are,
- ITC
- HSBC
- RELIANCE
- TATA
- ONGC
- GAIL
- INDIAN OIL
- INFOSYS
- TCS
- DELLOITE etc
What is the Average Package in ICMAI Campus Placement?
The highest package offered 18 Lakh p.a, and the average starting package is 7.5 Lakh p.a as per ICMAI.
FAQs
What is CMA, and who awards this certification?
CMA stands for Cost and Management Accounting, and it is awarded by ICMAI, which stands for The Institute of Cost Accountants of India.
Is the CMA course similar to CA, and why is it considered challenging?
Yes, the CMA course is similar to CA in terms of syllabus content, making it challenging due to overlapping subjects.
What are the three parts of the CMA course curriculum?
The CMA course is divided into three parts: Foundation, Intermediate, and Final Curricula.
How long is the articleship required for CMA students, and who supervises it?
CMA students must undergo articleship for a minimum of 10 to 15 months under the guidance of a practicing CMA or CA before applying for the CMA Final exam.
What is the total cost for registering in the CMA course?
The total cost for the CMA course is Rs. 53,000, excluding exam fees and training programs. Fees can be paid in installments for the intermediate and final stages.
What are the career opportunities for CMAs in the future?
CMAs have various career options, including roles in cost & management accounting, financial management, auditing, academia, management consultancy, and more. They can also pursue opportunities in practice fields such as internal audit and tax consultancy.