After 12th (Any Stream)
Students who have completed 10+2 (Arts / Commerce / Science) can start with CMA Foundation.
COST MANAGEMENT ACCOUNTANCY
COST & MANAGEMENT ACCOUNTANT (CMA)
The Institute of Cost & Management Accountants of India (ICMAI, Kolkata) is a Statutory Body set up under an Act of Parliament in the year 1959. A CMA is a person who offers to perform services involving the costing, pricing of goods and services or carries out the preparation, verification or certification of cost accounting and related statements. CMA assists in planning, monitoring and controlling the cost and price of a product or a service.
Industrial Training - 15 Month
Industrial Training - 15 Month
LEVEL -1 : CMA FOUNDATION COURSE
Eligibility : + 2 Pass Of any Group
CMA FOUNDATION latest Syllabus, w.e.f. October 2022
| PAPERS | SUBJECTS | MARKS |
|---|---|---|
| Paper 1 | Fundamentals of Business Laws and Business Communication (FBLC) | 100 |
| Paper 2 | Fundamentals of Financial and Cost Accounting (FFCA) | 100 |
| Paper 3 | Fundamentals of Business Mathematics and Statistics (FBMS) | 100 |
| Paper 4 | Fundamentals of Business Economics and Management (FBEM) | 100 |
NOTE:
The above Syllabus is the Latest (2016 syllabus Revised)
ADMISSIONS OPEN FOR 2026-2027
LEVEL-II : CMA INTERMEDIATE COURSE (Revised and Latest as per 2022 Syllabus)
Eligibility : CMA Foundation (or) Any degree (UG or PG) [Except Fine Arts]
CMA INTERMEDIATE latest Syllabus, w.e.f. October 2022
GROUP I
| PAPERS | SUBJECTS | MARKS |
|---|---|---|
| Paper 5 | Business Laws and Ethics (BLE) | 100 |
| Paper 6 | Financial Accounting (FA) | 100 |
| Paper 7 | Direct and Indirect Taxation (DITX) | 100 |
| Paper 8 | Cost Accounting (CA) | 100 |
GROUP II
NOTE:
Students may appear in both the Groups simultaneously (or) in single Group
ADMISSIONS OPEN FOR 2026-2027
LEVEL-III: CMA FINAL COURSE
Eligibility : CMA - Intermediate pass
CMA FINAL latest Syllabus, w.e.f. October 2022
GROUP III
| PAPERS | SUBJECTS | Marks |
|---|---|---|
| Paper 13 | Corporate and Economic Laws (CEL) | 100 |
| Paper 14 | Strategic Financial Management (SFM) | 100 |
| Paper 15 | Direct Tax Laws and International Taxation (DIT) | 100 |
| Paper 16 | Strategic Cost Management (SCM) | 100 |
GROUP IV
| PAPERS | SUBJECTS | MARKS |
|---|---|---|
| Paper 17 | Cost and Management Audit (CMAD) | 100 |
| Paper 18 | Corporate Financial Reporting (CFR) | 100 |
| Paper 19 | Indirect Tax Laws and Practice (ITLP) | 100 |
| ELECTIVES | ||
| Paper 20A | Strategic Performance Management and Business Valuation (SPMBV) | 100 |
| Paper 20B | Risk Management in Banking and Insurance (RMBI) | 100 |
| Paper 20C | Entrepreneurship and Start Up (ENTS) | 100 |
NOTE:
Students may appear in both the Groups simultaneously (or) in single Group
ADMISSIONS OPEN FOR 2026-2027
What is CMA?
Cost and Management Accountant
CMA (Cost and Management Accountant) is a professional accounting qualification that focuses on cost management, financial planning, internal controls, and business decision-making.
This course is regulated by the Institute of Cost Accountants of India (ICMAI), formerly known as ICWAI.
A CMA (Cost & Management Accountant) is a professional who helps organizations:
- ✓ Control Costs Effectively
- ✓ Improve Profits
- ✓ Plan and Manage Finances
- ✓ Support Management Decisions
Levels of the CMA Course
The CMA journey requires you to clear three academic levels and undertake Practical training.
Key Roles & Responsibilities
Cost Analysis & Cost Control
Budgeting & Financial Planning
Management Decision Support
Performance Measurement
Financial Reporting & Compliance
Who can pursue CMA?
CAT Level 1 Qualified Students
Students who have cleared Certificate in Accounting Technicians (CAT) Level 1 examinations are eligible to appear for CMA Intermediate.
Graduates / Post-Graduates / Professionals
Students who have completed any degree (except Fine Arts) can directly join CMA Intermediate with Foundation exemption. This includes Graduates, MBA, M.Com, CA Inter qualified, and candidates from other professional courses pursuing CMA for career advancement.
Who Should Choose CMA?
- Students interested in Accounting, Finance, Costing, Taxation & Management
- Those who want careers in corporates, industries, finance roles, or management
- Students aiming for a professional qualification with strong job scope.
Duration of the CMA Course
While it depends on the student’s progress, a typical pathway often takes:
- CMA Foundation 6 - 8 months
- CMA Intermediate 12 - 18 months
- Practical Training 15 months
(mandatory) - CMA Final 6 - 12 months
Total Duration
3 - 4 Years
For disciplined students who qualify every stage on the first attempt.
CA vs CMA:
Which One Should You Choose?
Many students compare CA (Chartered Accountancy) with CMA (Cost & Management Accounting). Here is a simple comparison:
ASPECT
CA
CMA
Focus
Accounting, Auditing
Taxation, Finance
Taxation, Finance
Costing, Budgeting,
Management Accounting
Management Accounting
Governing Body
ICAI
ICMAI
Duration
4 - 5 Years
3 - 4 Years
Career
Audit firms, Corporates,
Banks, Finance
Banks, Finance
Manufacturing, Corporates,
Financial Planning
Financial Planning
Frequently Asked Questions
CMA course duration is 3 to 4 years. It includes CMA Foundation, Intermediate, 15 months of practical training, and Final level.
Eligibility for CMA Foundation is 10+2 pass from any stream. Graduates can get direct entry to CMA Intermediate without Foundation.
CMA course includes Foundation (4 papers), Intermediate (8 papers), and Final (8 papers). It focuses on cost accounting, management accounting, taxation, and financial management.
CMA total cost is approximately Rs. 1-1.5 lakhs including registration, exam fees, and training. Foundation costs around Rs. 4,000, Intermediate Rs. 12,000, and Final Rs. 16,000.
CMA professionals work as Cost Accountant, Financial Analyst, Budget Analyst, Finance Manager, and in PSUs, MNCs, manufacturing companies, and consulting firms.
