[FAQs] Certified Management Accountant (CMA) – Admission Related Questions

  • Exam|CMA|
  • 9 Min Read
  • By Taxmann
  • |
  • Last Updated on 23 December, 2023

Certified Management Accountant (CMA)

FAQ 1. What are the eligibility criteria for admission at Foundation Level of the CMA Course?

Following are the eligibility criteria for admission to CMA Course at Foundation level:

    • A candidate who has passed Class 10 or equivalent from a recognized Board or Institution; or

Note: Though enrolment is possible after Class 10, a candidate can appear for the Foundation examination only after appearing for Senior Secondary (10+2) Examination; or

    • A candidate who has passed the Senior Secondary Examination under 10+2 scheme of a recognized Board or an Examination recognized by the Central Government as equivalent thereto or passed National Diploma in Commerce Examination held by the All India Council for Technical Education or any State Board of Technical Education under the authority of the said All India Council, or the Diploma in Rural Service Examination conducted by the National Council of Higher Education.

Note: Candidates awaiting result can also apply for provisional admission and must regularize the admission by submitting the pass result within 36 months.

FAQ 2. What are the eligibility criteria for admission at Intermediate Level of the CMA Course?

Following are the eligibility criteria for admission to CMA Course at Intermediate level:

There are two ways in which a student can register for CMA Intermediate Course:

1. Through Foundation Course: To register for the Intermediate Course, candidates should clear the CMA Foundation examination successfully.

2. Through Direct Admission: Some candidates are exempted from passing Foundation Course and can directly register for Intermediate Course through Direct Admission. Some of them include candidates who have passed:

      • Graduation (in any discipline other than Fine Arts)/ Post-graduation; or
      • Foundation (Entry Level) Part I Examination of Certificate in Accounting Technicians (CAT) of ICMAI; or
      • Foundation (Entry Level) Part I Examination and Competency Level Part II Examination of CAT of ICMAI; or
      • Foundation Examination of Institute of Company Secretaries of India (ICSI) or Intermediate Examination of Institute of Chartered Accountants of India (ICAI).

For complete details on Eligibility for Direct Admission, refer https://icmai.in/upload/Students/CE_Annexure-VI.pdf.

Note: Candidates awaiting result can also apply for provisional admission and must regularize the admission by submitting the pass result within 18 months.

FAQ 3. What are the eligibility criteria for admission at Final Level of the CMA Course?

Following are the eligibility criteria for admission to CMA Course at Foundation level:

Only the candidates who have passed the CMA Intermediate Examination are eligible for admission to Final Course.

FAQ 4. Can a candidate directly register for CMA Intermediate Course?

Yes, ICMAI grants exemption to following students/candidates/professionals by allowing Direct Entry to Intermediate Course on registration:

    • Graduation (in any discipline other than Fine Arts)/ Post-graduation; or
    • Foundation (Entry Level) Part I Examination of Certificate in Accounting Technicians (CAT) of ICMAI; or
    • Foundation (Entry Level) Part I Examination and Competency Level Part II Examination of CAT of ICMAI; or
    • Foundation Examination of Institute of Company Secretaries of India (ICSI) or Intermediate Examination of Institute of Chartered Accountants of India (ICAI).

For complete details on Eligibility for Direct Admission, refer https://icmai.in/upload/Students/CE_Annexure-VI.pdf.

Note: Candidates awaiting result can also apply for provisional admission and must regularize the admission by submitting the pass result within 18 months.

FAQ 5. Should one enroll for CMA Course after Class X/XII or after graduation?

The major and notable difference between joining CMA Course after Class X/XII or after graduation is that after passing Class X, a candidate can provisionally register for CMA Course and on appearing in Class XII Examination, he/she first needs to clear the Foundation Examination, which is the entry-level examination of Cost and Management Accountancy Course.

However, if the candidate has completed his/her graduation or is in the final year of graduation, he/she can take direct admission into Intermediate course, which is the second stage of CMA Course i.e. he/she can skip the Foundation Examination.

Usually opting for CMA Course right after clearing class X examination is preferred, since it helps the students begin with the course early besides continuing with the graduation parallely which can result in saving time and complete both the courses (CMA as well as graduation) together.

FAQ 6. Can a non-commerce student pursue CMA Course?

Yes, the minimum educational qualification required to get admission in CMA Foundation Course is passing Class X examination from any recognized board. Thus, a student can provisionally register for the Foundation Course after passing Class X examination and can appear in the Foundation Examination after appearing in the senior secondary (10+2) examination (either from commerce or any other stream).

Further, a student can register for CMA Intermediate Course either through:

    • CMA Foundation Routee. after clearing Foundation examination successfully, or
    • Direct Entry Route in which he/she may be a graduate (in any discipline other than Fine Arts)/ post graduate or has passed the Foundation level of ICSI or Intermediate level of ICAI, or other persons as notified. Such candidates are exempted from passing Foundation Course and can directly register for Intermediate Course.

Thus, even a non-commerce student can pursue the CMA Course.

FAQ 7. Which subjects need to be studied in CMA course at each level?

Cost and Management Accountants are known for effective resource management and making the operations more cost effective in industries, providing services in investment planning, profit planning, project management and overall managerial decision making process, Audit or Certification work, and such other advisory services.

In order to equip them with such knowledge, they are expected to study the below-mentioned subjects during the three stages of CMA examinations.

CMA Stage of Examination Paper Pattern Subject Details
 

 

Foundation

 

 

Objective

Paper 1: Fundamentals of Economics and Management (FEM)

Paper 2: Fundamentals of Accounting (FOA)

Paper 3: Fundamentals of Laws and Ethics (FLE)

Paper 4: Fundamentals of Business Mathematics and Statistics (FBMS)

 

 

 

 

 

Intermediate

 

 

 

 

 

Objective and Descriptive

Group – I

Paper 5: Financial Accounting (FAC)

Paper 6: Laws and Ethics (LNE)

Paper 7: Direct Taxation (DTX)

Paper 8: Cost Accounting (CAC)

Group – II

Paper 9: Operations Management & Strategic Management (OMSM)

Paper 10: Cost and Management Accounting and Financial Management (CMFM)

Paper 11: Indirect Taxation (ITX)

Paper 12: Company Accounts & Audit (CAA)

 

 

Final

 

 

Objective and Descriptive

Group – III

Paper 13: Corporate Laws and Compliance (CLC)

Paper 14: Strategic Financial Management (SFM)

Paper 15: Strategic Cost Management – Decision Making (SCMD)

Paper 16: Direct Tax Laws and International Taxation (DTI)

Group – IV

Paper 17: Corporate Financial Reporting (CFR)

Paper 18: Indirect Tax Laws and Practice (ITP)

Paper 19: Cost and Management Audit (CMAD)

Paper 20: Strategic Performance Management and Business Valuation (SPBV)

FAQ 8. What is the frequency of CMA examinations?

In CMA course, at all the levels, exams are conducted twice a year i.e in June and December through online mode only.

FAQ 9. Are CMA examinations conducted online?

Yes, students have to appear for CMA examinations through online mode only as given below:

CMA Stage

Mode of Examination

Foundation

Online Home-based

Intermediate/ Final

Online Centre-based

FAQ 10. How much time is required to complete the CMA Course?

One can register for the CMA course in two ways:

a) Provisonally registering for Foundation Course after clearing Class X examination, and appearing for the Foundation exam after appearing in Class XII examination.

b) By Direct entry route i.e. in final year of graduation/ after completing graduation or post graduation/ after passing Foundation level of ICSI/ Intermediate level of ICAI, as the case may be.

Depending on the route chosen to enroll for CMA Course i.e. Foundation Route or  Direct Entry, the time requirement for course completion differs as follows:

CMA Course Enrollment

Minimum Duration of CMA Course

Through Foundation Route

2.5 – 3 years

Through Direct Entry

2 – 2.5 years

FAQ 11. Which is the last date to register for CMA Course?

All students who are willing to enroll for CMA course (Foundation/ Intermediate/ Final) can apply at any time of the year. However, students desirous to appear for June Term Examination should apply before 31st January of that year and for December Term Examination, they should apply before 31st July of the same calendar year.

FAQ 12. How to register for CMA Course?

Application for CMA course registration at each level (Foundation/Intermediate/Final) can be done through either offline or online mode.

Offline Mode

    • For registration through offline mode, a candidate needs to fill up the Admission Form along with Identity Card (enclosed in the Prospectus) which is available at Regional Council Offices, Chapters, Recognised Oral Coaching Centre (ROCCs) & CMA Support Centres.
    • Along with the Admission Form and Identity Card, a candidate also needs to submit the attested documents giving the proof of qualification and age, and make the necessary payment.
    • Such student will be issued an Identification/ Registration Number (which shall remain valid for a definite period) along with the Identity Card.

Online Mode

For registration through online mode, a candidate needs to follow the below-mentioned steps:

    • Visit ICMAI website (https://eicmai.in/studentonlineregsystem/Home.aspx).
    • Select the course (Foundation/ Intermediate/ Final) one is applying for.
    • Now fill up the details and complete the OTP verification.
    • Then, a new page will appear; fill up the personal details, qualification details and click on ‘Submit’.
    • Now upload the necessary documents and click on ‘Upload and Save’.

Note:

      • Maximum limit for photograph – 200KB in JPG/JPEG format.
      • Maximum limit for signature – 100KB in JPG/JPEG format.
      • All the other documents – Upto 300KB in PDF format.
    • The final step is to fill up the payment details and make the payment through Debit card/ Credit card/ Net Banking.
    • After successful payment, application number will be generated.

Note: Identification/ Registration Number will be generated only after realisation of payment, completion of document verification and authentication from the Directorate of studies.

FAQ 13. Which documents are required for CMA Registration at Foundation level?

The registration process for each stage requires different documents to be provided/ uploaded which are stated as under:

    • Passport Size Photographs
    • Identity Proof
    • Age Proof
    • 10th Marksheet
    • 12th Appeared Admit Card/ Marksheet
    • Signature Specimen

FAQ 14. Which documents are required for CMA Registration at Intermediate level?

The registration process for each stage requires different documents to be provided/ uploaded which are stated as under:Passport Size Photographs

    • Identity Proof
    • Age Proof
    • 10th Marksheet
    • 12th Marksheet
    • CMA Foundation Marksheet
    • 2nd year Graduation Marksheet (if provisional admission)
    • CS Foundation/ CA Intermediate/ Graduation Marksheet/ Other such relevant documents for direct admission
    • Signature Specimen

FAQ 15. Which documents are required for CMA Registration at Final level?

The registration process for each stage requires different documents to be provided/ uploaded which are stated as under:

    • Passport Size Photographs
    • Identity Proof
    • Age Proof
    • CMA Intermediate Marksheet
    • Signature Specimen

FAQ 16. What is the registration fee for CMA course?

The revised CMA Course Fee Structure w.e.f. 11th February 2021 (https://icmai.in/upload/Students/Revised_CMA_Couse_fees_Structure11022021.pdf) is stated below:

Amount in Rs.

Foundation

Intermediate

(For Both Groups)

Final

(For Both Groups)

6,000

23,100

(including Skills Training Facilitation Fees of Rs. 1,100)

25,000

Note:

    • Additional Rs. 250 is to be paid one-time for cost of Prospectus in case of offline registration.
    • The registration fees can be paid in installments also at Intermediate/ Final level.

FAQ 17. Can CMA Course registration fee be paid in instalments?

Yes, the CMA Course registration fees can be paid in installments at Intermediate/ Final level, as follows:.

Stage of CMA Examination

1st Instalment (Rs.)

(at the time of enrolment)

2nd Instalment (Rs.)

(before 31st January/ 31st July)

Intermediate

12,000

11,100

Final 15,000

10,100

Note:

    • Payment of 1st installment will enable a student get the study materials of both groups and opting for oral/postal coaching of either Group.
    • After payment of 2nd Installment, the student will be eligible to opt for oral/postal coaching of other group and any training as applicable.

FAQ 18. How can a candidate check his/her CMA registration status?

Registration status can be checked online from the CMA website. After opening the link (https://eicmai.in/studentonlineregsystem/Masters/EnterApplNo.aspx), a candidate needs to fill up its date of birth and application number or email or mobile number.

FAQ 19. For how long does CMA Registration remain valid?

The CMA registration at all levels remain valid for a specific period, during which the student needs to complete the required trainings as well as clear his/her exams. However, the registration can be renewed/ re-validated at the end of its validity by paying a renewal/ re-validation fee as specified by ICMAI from time to time.

The validity period of initial registration to CMA Course at each level is stated below:

CMA Registration Stage

Validity period (years)

Foundation

3

Intermediate

7

Final

7

The students must have a valid registration number as on the date of filling Examination Application Form. Thus, after the initial validity period lapses, the student has to get his/her registration re-validated.

FAQ 20. What is DE NOVO Registration in the CMA Course?

 A student whose registration has been cancelled on account of his/her failure to complete the Intermediate/ Final Examinations within a period of 7 years from the date of his/her registration may apply for DE NOVO Registration in the prescribed form online at: (https://icmai.in/studentswebsite/vas.php).

Note:

    • DE NOVO Registration Fee is Rs. 2,000 + GST as applicable.
    • DE NOVO Registration is normally granted once only. The second time DE NOVO Registration may be granted if the student has passed at least one Group or earned exemption in at least two subjects.

FAQ 21. How to get CMA study material (hard copy/ soft copy)?

Offline Registration

If the candidate has registered for CMA Course offline, then books will be available at Regional Council Offices, Chapters, Recognised Oral Coaching Centre (ROCCs) & CMA Support Centres.

Online Registration

In case of online registration, books will be delivered to the postal address given at the time of registration.

Books are also available on the institute’s website (https://icmai.in/studentswebsite/) and can be accessed any time.

FAQ 22. What is the total expenditure to be incurred for CMA Course?

The entire CMA Course takes approximately 3 years to complete with a total course fee of around Rs. 1,90,000 to 2,90,000 (including coaching center fees). If a candidate does not opt for a separate coaching institute, then the over-all expenditure comes down to an approximate of Rs. 60,000 to 80,000, which includes all expenses such as registration fees, examination fees and training fees.

FAQ 23. Is there any scholarship/ fee concession awarded by ICMAI to students?

Yes, ICMAI invites applications for the award of following scholarships/ fee concessions:

    • Scheme to Provide Financial Assistance to Economically Challenged cum Meritorious Students
    • Refund/Waiver of fees paid by Physically Challenged Students
    • Government Scholarship Schemes

Detailed information about these scholarships awarded by ICMAI can be accessed at: https://icmai.in/studentswebsite/Financial_Aids.php.

Additionally, ICMAI allowed exemption of CMA Course Fee for students who have lost their any parent during Covid-19 Pandemic, the details on the same can be found at the link provided here: https://icmai.in/upload/Students/Guideline_2210_21.pdf.

Further, a student/ candidate must follow the different announcements made by ICMAI in respect of scholarships, fee concessions and other benefits.

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

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