All about CMA Courses, Exams, Eligibility, Fee and Career Scope
Certified Management Accountant 2025 ( CMA )
Exam On - 11 Oct '25
CMA course not only opens up an exciting world of financial management opportunities, but also provides the required experience to meet the demands of the ever-changing corporate world. Read all about CMA course here.
CMA Course: The Institute of Cost Accountants of India, commonly referred to as ICMAI, administers the CMA course in India with the CMA full form being Cost and Management Accounting. The CMA course is ideal for students interested in managing and integrating accounts across various company departments to optimize costs. The CMA course duration is three years. This article provides CMA course details, including the eligibility criteria, fees, syllabus, salary prospects, etc.
- What is CMA Course?
- CMA Course Eligibility Criteria
- CMA Course Fees and Duration
- CMA Exam
- CMA Course Syllabus/Subjects
- CMA Course: Career, Scope and Salaries
What is CMA Course?
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CMA, or Cost and Management Accounting, is a certificate course providing CMA designation to the qualifiers. The designation is a gateway to a lucrative career in business accounting. The CMA course functions on four pillars of knowledge, including Management, Regulatory Framework, Strategy, and Financial Reporting. The designation of a CMA is provided after a candidate qualifies the CMA exam conducted at three levels mentioned below:
- Level 1: CMA Foundation
- Level 2: CMA Intermediate
- Level 3: CMA Final
CMA Full Form
Cost and Management Accountant is abbreviated as CMA. Earlier, CMA was known as Cost and Work Accountant (CWA). ICWAI awarded CWA designation to all the qualified candidates. Later, with the change in name, ICWAI became ICAI, and CWA became CMA. The change came into existence to compete with the similar level of designations in other countries. Most countries had a similar designation and addressed the same CMA's, i.e. certified management accountants. To provide equal status to the CWA qualifiers, the change in name was proposed. Additionally, the curriculum of the course is more management than works accountancy to provide knowledge at par with the growing technologies.
Difference Between CWA, CMA, ICMAI, and ICWAI
ICMAI offers the CMA course at three levels. The CMA full form, Cost and Management Accounting, was previously termed as CWA, which was an acronym for Cost and Works Accounting. The governing body in India remained unchanged; however, ICMAI was then known as the Institute of Cost and Works Accountants of India (ICWAI).
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Thus, there is no difference between CWA and CMA. Both are the same courses, only the name has been changed. Similarly, ICWAI, and ICMAI are the same institute with changes in names over the years.
CMA Course Eligibility Criteria
The eligibility criteria to apply for CMA exam at all three levels vary. Space below mentions the CMA course eligibility criteria for all three levels
CMA Foundation Eligibility Criteria
- Have passed Class 10 or equivalent followed by Class 12 or equivalent
- If they have received National Diploma in Commerce Examination (AICTE or by any recognised board)
CMA Intermediate Eligibility Criteria
- Passed SSC or equivalent
- Foundation or entry level of Common Admission Test (CAT) by Institute of Cost Accountants of India (ICAI)
- Graduation in any stream (except Fine Arts)
- Even students who are awaiting results would pass CMA course eligibility
CMA Final Eligibility Criteria
- Students who are done with their Intermediate level at school
- Graduation in any stream (except Fine Arts)
- Have passed all eight papers of the Intermediate course
CMA Course Fees and Duration
The entrance examination, the CMA exam, is held twice a year, once each in June and December. If a student wishes to apply for the June exam, they can apply before January 31 of the same year. For the December exam, the last date of application is July 31.
CMA Course Fees
| CMA Fee Type | CMA Fee Amount |
|---|---|
| Cost of prospectus | INR 250 |
| CMA course fee | CMA Foundation course fee: INR 6,000 CMA Intermediate course fee: INR 23,100 or INR 12,000 at the time of registration and remaining to be paid before January 31 and July 31 for June and December term exams CMA Final course fee: INR 25,000 or INR 15,000 at the time of registration and remaining to be paid before January 31 and July 31 for June and December term exams |
CMA Exam
Candidates enrolling into any of the three CMA courses have to appear for the exam conducted by the institute to be eligible for the subsequent phase of the entire course. ICMAI conducts the CMA exam in two sessions, June and December. Candidates can appear for any of the terms based on their eligibility. For all CMA students, ICMAI hosts the CMA exam form to be filled before a specified date to take the exam in that particular session. CMA exam form submission requires the candidates to pay the exam fee.
CMA Exam Fees
The table below mentions the CMA exam fees for Foundation, Intermediate, and Final exams
| CMA Course | CMA Exam Fee for Inland Centre Preference (in INR) | CMA Exam Fee for Overseas Centre Preference (in USD) |
|---|---|---|
| Foundation | 1200 | 60 |
| Intermediate | 1200 (for one group) 2400 (for two groups) |
90 |
| Final | 1400 (for one group) 2800 (for two groups) |
100 |
CMA Exam Pattern
The table below mentions the CMA exam pattern for Foundation, Intermediate, and Final exams
| CMA Exam Pattern Features | CMA Foundation Exam Pattern | CMA Inter Exam Pattern | CMA Final Exam Pattern |
|---|---|---|---|
| Mode of exam | Offline Centre-Based Test | Offline Centre-Based Test | Offline Centre-Based Test |
| Type of questions | Objective | Subjective | Subjective |
| Total marks | 100 (each paper) | 100 (each subject) | 100 (each subject) |
| CMA exam duration | 120 minutes | 180 minutes | 180 minutes |
| Number of groups | - | 2 | 2 |
| Number of subjects | 4 | 4 (in each group) | 4 (in each group) |
CMA Course Syllabus/Subjects
All three levels of the CMA course has different subjects. Candidates need to qualify the exam for all papers to get the CMA designation. An overview of entire CMA course structure is mentioned below:
- First stage is CMA Foundation; candidates must pass four papers to clear the course level. Candidates can appear for the test of these four subjects in term of CMA exams
- Second stage is the CMA Intermediate; the course level has two groups with the following features
- Group 1 has four papers; students can appear for all four in one term exam
- Group 2 has four papers; students can appear for all four in one term exam
- In some cases, candidates can also appear for both groups of CMA Intermediate exam in one term
- Third stage is the CMA Final; similar to the intermediate level, Final course has two groups
- Group 3 has four papers;
- Group 4 has four papers. Candidates get to choose among three elective subjects for the last paper of Group IV.
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ICMAI had revamped the syllabus for all three courses by introducing the CMA syllabus 2022. The latest syllabus for all three courses of CMA designation are as follows:
CMA Syllabus for Foundation Course
| Paper Number | Subject Name |
|---|---|
| Paper 1 | Fundamentals Of Business Laws and Business Communication (FBLC) |
| Paper 2 | Fundamentals of Financial and Cost Accounting (FFCA) |
| Paper 3 | Fundamentals of Business Mathematics and Statistics (FBMS) |
| Paper 4 | Fundamentals of Business Economics and Management (FBEM) |
CMA Syllabus for Intermediate Course
| Paper Number | Subject Name |
|---|---|
| Group 1 | |
| Paper 5 | Business Laws & Ethics (BLE) |
| Paper 6 | Financial Accounting (FA) |
| Paper 7 | Direct and Indirect Taxation (DITX) |
| Paper 8 | Cost Accounting (CA) |
| Group 2 | |
| Paper 9 | Operations Management and Strategic Management (OMSM) |
| Paper 10 | Corporate Accounting and Auditing (CAA) |
| Paper 11 | Financial Management and Business Data Analytics (FMDA) |
| Paper 12 | Management Accounting (MA) |
CMA Syllabus for Final Course
| Paper Number | Subject Name |
|---|---|
| Group 3 | |
| Paper 13 |
Corporate and Economic Laws (CEL) |
| Paper 14 | Strategic Financial Management (SFM) |
| Paper 15 |
Direct Tax Laws and International Taxation (DIT) |
| Paper 16 | Strategic Cost Management (SCM) |
| Group 4 | |
| Paper 17 |
Cost and Management Audit (CMAD) |
| Paper 18 | Corporate Financial Reporting (CFR) |
| Paper 19 |
Income Tax Laws and Practice (ITLP) |
| Paper 20 (one of the following) | Strategic Performance Management & Business Valuation (SPMBV) |
| Risk Management in Banking and Insurance (RMBI) | |
| Entrepreneurship and Start-Up (ENTS) | |
CMA Course: Career, Scope and Salaries
Students are placed both on campus as well as off-campus. Students are equipped not just to pursue strictly accounting profiles on organisations, but can also leverage their knowledge and experience to venture into consulting and management.
CMA Job Roles
Students can explore and take up multiple roles in a company post their course. These include:
- Internal Auditor
- Cost Accountant
- Finance Manager
- Assistant Finance Manager
- Chief Financial Officer
CMA Salary Expectation
As of now, IT, ITeS and Telecommunications happen to be the industries that offer most in terms of remuneration. The average salary offered to freshers starts at INR 22,000-25,000 per month. With experience and exposure, this, of course, would rise. The table below mentions the average salaries of top job positions in organisations offered to candidates holding a CMA designation
CMA Salary
| Job Title | Average Salary (In INR) |
|---|---|
| Cost Controller | 6.94 LPA |
| Finance Manager | 10.86 LPA |
| Chief Financial Officer (CFO) | 36.98 LPA |
| Senior Financial Analyst | 8.17 LPA |
| Accountant | 2.92 LPA |
| Certified Management Accountant | 5 LPA |
| Cost Accountant | 7.05 LPA |
| Financial Controller | 24.35 LPA |
| Internal Auditor | 5.85 LPA |
| Finance Analyst | 5.40 LPA |
CMA course exam not only opens up an exciting world of financial management opportunities but helps provide the necessary experience so that the aspirant can take on the demands of the ever-changing corporate world.
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Student Forum
Anything you would want to ask experts?Answered a month ago
Absolutely! Many subjects like Financial Accounting, Corporate Law, Taxation, and Auditing directly overlap with professional courses. Students often say that their B.Com (Hons) syllabus gives them a head start in cracking CA/CS/CMA exams, saving them study time later.
A
Contributor-Level 7
Answered 2 months ago
To become a CMA in the USA, you need to:
- Become a member of the Institute of Management Accountants (IMA).
- Meet the required education and work experience criteria.
- Successfully pass both parts of the computer-based CMA exam.
- Complete required continuing education units to keep your certification active
R
Contributor-Level 6
Answered 2 months ago
We have listed below the CMA US eligibility criteria for international students:
- Register yourself with the IMA.
- You must have a Bachelor's degree from an accredited college or university. If you are pursuing your graduation, you are still eligible for the US CMA. Degree verification must be done with
A
Contributor-Level 6
Answered 2 months ago
The average CMA in USA salary is USD 126,000, but may vary on factors like experience, industry, company size, and location. The details are given below:
- Mean Salary: USD 86,924 (INR 72.2 L)
- Median Salary: USD 67,500 (INR 56.5 L)
Conversion Rate: 1 USD = INR 83.70
P
Contributor-Level 6
Answered 2 months ago
The CMA programme in USA, offers flexibility for aspiring management accountants to complete the course. While CMA in USA typically takes 12 to 18 months to complete both exam parts, however, dedicated students can finish in 6 to 9 months also. Candidates also have a three-year window to complete th
J
Contributor-Level 6
Answered 2 months ago
CMA is not just valid in USA, but also in other countries like Europe, UK, Canada, Germany, UAE and others. Thus, those who graduate with CMA from USA are eligible to work across the globe.
J
Contributor-Level 6