Earning the title of CMA in India is quite a prestigious choice not only because of the pay scale but also because of the opportunities and respect it brings forth. However, the process is a bit extensive, and in this article, we have held up some of the most important prerequisites.
Exams and Training Sessions Involved in the CMA Programme
The CMA course duration after graduation lasts depending upon the time you require to complete the three exams. It starts with the CMA foundation exam, followed by the intermediate and ultimately the final exam!
Along with the three exams, you also have to complete extensive training. There are no two ways about the fact that CMA is a very prestigious profession, and hence qualifying for the same requires a little bit of extra hard work. The major training involved to become a CMA include:
- A 3-days communication and soft skills training for intermediate students.
- A mandatory computer training for 100 hours, for intermediate students.
- After you have enrolled for the final exam, you have to complete a 7-days Industry Oriented Training Programme.
- Extensive practical training of 3-years. However, you must have completed 6-months of practical training to appear in the final exam.
- Once you pass the final exam, just before your campus placement, you must complete 15 days of modular training and the remaining practical training.
It has to be mentioned in this light that passing the exams, and completing these training sessions are equally important to acquire the title of a CMA.
Besides clearing the exams, you also need to possess certain aptitudes to become a Cost Management Accountant. The primary one, however, is a knack for finances. Without developing an interest, it might become too difficult to pursue this career choice. The process to apply for the CMA course is quite straightforward in India. The ICMAI conducts the exam twice every year. You have to qualify for both the theoretical exam and the practical training to be known as an able CMA.
Step-by-Step Procedure to Become a CMA in India
The process to apply for the CMA course is quite straightforward in India. The ICMAI conducts the exam twice every year. You have to qualify for both the theoretical exam and the practical training to be known as an able CMA. The eligibility to appear for the exams are as follows:
- CMA Foundation: Any candidate who has passed the class XII exam from any competent board or school of education can enroll and appear for the foundation exam.
- CMA Intermediate: The candidate must have completed graduation from any field other than fine arts or qualified foundation exam to register for the intermediate course.
- CMA Final: Along with clearing the intermediate exam, the applicant must complete the previously mentioned practical training for a minimum of six months to apply for the exam.
- Practical Training: After clearing the final exam, the students must mandatorily complete the remaining period of practical training. Under practical training, the students implement their theoretical knowledge in practical fields to understand the regular operations a company goes through.
- Modular Training: Once the students have passed all the exams and completed the practical training session, the final step is modular training. It lasts for fifteen days. Completing this training allows you to register as a member with the Institute of Cost Management Accountants in India and get you the title of ACMA. Afterwards, going through additional training and earning ample field experience, the individuals finally become CMA professionals.
The ICMAI is central when it comes to the profession of CMA. Hence, it is essential to follow their guidelines under all circumstances. Wondering what such an extensive career choice will cost when it comes to the coaching classes? Being a pioneering brand, CMA Nation has been conducting valuable online classes for its students. Their CMA course fee is also affordable and fits the budget completely!