The Institute of Cost and Works Accountants of India (ICWA) offers Cost and Management Accounting (CMA) course which is designed to provide an introduction to the fundamentals of accounting and finance. The course covers topics such as financial statements, basic accounting, budgeting, forecasting and financial ratios. The course also provides an overview of the different types of businesses, including sole proprietorship, partnerships and corporations.
The duration of a CMA course varies depending on the institute, the country and the type of course. The duration also depends on whether it is a part-time or full-time course. A CMA course usually takes up to 2 years in some countries and 3 years in others.
ICWA Foundation: Minimum 8 months
ICWA Intermediate: Minimum 10 months
ICWA Final: Minimum 18 months
LEVELS OF CMA
In this section, we will discuss the different levels of CMA course and the skills that are taught in each level.
The CMA course is a rigorous and comprehensive post-graduate program. The course covers topics such as management accounting, financial accounting, auditing, taxation and law.
- The first level of the CMA course is called “Foundational”, which lays a strong foundation for students to develop their knowledge in core areas of accounting such as financial reporting, financial statement analysis and managerial accounting.
- The second level is called “Intermediate” which includes topics like advanced managerial accounting and taxation law.
- The third level is called “Final” which goes into depth on audit preparation and professional ethics.
Before applying for the CMA programme, you should be aware of the admission requirements.
The following are the CMA course eligibility requirements:
FOUNDATION COURSE
- A candidate must have passed Class 10 from a recognised Board or Institution.
- Passed the Senior Secondary Examination under the 10+2 scheme of a recognised Board or an Examination recognised by the Central Government as equivalent thereto, or has passed the 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 held by the National Council of Higher Education.
INTERMEDIATE COURSE
- Passed Senior Secondary School Examination (10+2) and the Institute of Cost Accountants of India Foundation Course/Graduation in any discipline other than Fine Arts/ Foundation Course (Entry Level) Part I Institute/Foundation CAT Exam (Entry Level) Examination and Competency Level in Part I Part II of the Institute’s CAT Examination.
- Along with 10+2, passed the Foundation of ICSI/Intermediate of ICAI exam.
FINAL COURSE
- Must hold a graduation degree in any field except Fine Arts.
- Passed the Institute’s Intermediate course and completed 15 months of practical training.
FEE STRUCTURE FOR ICWA CMA
The ICWA course fee varies by exam level, and ICMAI offers students the option of paying the intermediate level course fee in advance. The ICWA Foundation, Intermediate, and Final course fees are listed below.
| LEVEL OF COURSE | AMOUNT (in Rs) |
| Foundation Level | 4,000rs -6,000rs |
| Intermediate Level | 17,000rs -20,000rs |
| Final Level | 20,000rs-25,000rs |
CAREER AND SCOPE
After completing the ICWA course, you will be able to pursue a variety of opportunities in consulting firms, training and research institutions, financial institutions, stock exchanges, the public utility sector, government regulatory bodies, and other organisations. Following successful completion of the ICWA course, you can pursue the following major career paths:
- Cost Accountant
- Finance Director
- Chief Internal Auditor
- Managing Director
- Financial Consultant
- Cost Controller
- Accountant
- Financial Controller
ICWAI SALARY
As a Fresher, your starting salary may range between INR 4,00,000 and INR 5,00,000. Senior level CMAs with sufficient experience earn INR 10,00,000- 12,00,000 per year.
TOP RECRUITERS
- Vedanta
- GAIL
- ONGC
- Nestle
- Micro Inks Limited
- Reliance Industries Limited
- ITC Limited
- Saint-Gobain
- Yes Bank
- Inext Infotech Services
- Zexus Air Services Pvt Ltd
- Government and Private Institutions
- ALTRET Industries Pvt. Ltd
- Kotak Mahindra Bank Limited
- Berger Paints
- JK Paper Limited
- Aparna Carbons Private Limited
- Prism Cement
CONTENT CURATOR : PUJA UNIYAL
