A Guide to CMA Foundation Course

CMA is a short form used for Cost Management Accountants and it is one of the most prominent programs in the finance industry. The “CMA Foundation Course is undoubtedly your best bet if you are someone who has great interest as well as you plan to make it big in the management accounting field. Additionally, in the past few years, CMA has gained significant prominence amongst commerce candidates or the students who aspire to enter the commerce industry. Suppose you are planning to pursue CMA in India, in that case, it is incredibly essential for you to understand some basics about the course, including the prospects, subject included and the eligibility criteria. You don’t need to stress at all as we have covered some necessary details about the CMA Foundation course under this blog.

All you need to know about the CMA course:

Ideally, Cost management accounting or CMA is a certificate program that is designed uniquely to train students working in various industries and corporate sectors. You can buy Online CMA Foundation Courses if you want to pursue the course. The Institute of Cost Accountants of India issues the credentials of the CMA course in India. The program tends to majorly focus on valuation issues, financial statement analysis, working capital policies, external financial reporting, etc.

Levels under CMA course:

Though mainly there are three levels covered under the CMA course, we shall focus on the level 1 or the foundation course under this guide.  

All you need to know about the course duration:

The best part of undertaking the CMA course is that the duration tends to be flexible. All it simply means that the time taken to complete the program depends on the candidate’s ability to focus and the dedication levels. A candidate can complete the course even in 4 months or even in 6 years. In India, candidates usually complete the course in 3 to 4 years, while in the US, students complete it in 6 months.  

Skills one can gain through CMA Foundation Video Lectures:

  • Cost Management
  • Expertise in Management Accounting
  • Profitability Analysis
  • Planning and Budgeting
  • Risk Management
  • Investment Decision
  • Cost Management
  • Expertise in Management Accounting
  • Profitability Analysis
  • Planning and Budgeting
  • Risk Management
  • Investment Decision

Eligibility criteria for CMA foundation course:

If you are planning to appear for the CMA Foundation course, then you must know about the below-mentioned eligibility criteria.

  • You must have cleared Class 10 or equivalent level of education from the recognized board.
  • You must also have cleared your Senior Secondary Examination (10+2) or equivalent from a recognized examination board.
  • Other than that, if you hold a National Diploma in Commerce Education by AICTE or any State Board of Technical Education, you will be considered eligible.

All you need to know about the CMA registrations:

The CMA registrations close at least four months prior to the examination day. You can choose the stage you are eligible for and then apply as per suitability. The registration for the ICMAI course is active whole year, but you need to register yourself four months before the intended term. For instance, if you plan to appear for the December term exam, you should apply before July 31st of the same year. You need to register before January 31st if you want to give the exam in June. 

You can register for the course by submitting your application form along with other mandatory documents to the respective registration councils. All Indian states are divided into four regions, so you need to check the regional council of the location. The registration fees for the foundation course is Rs.4000. 

The CMA exam and flexibility:

The course provides flexibility to the students to appear for different stages of examinations. On any day, while the testing window is open, you can appear for the exam. Six months of a year, the testing window is remains open. All of the CMA exams are computerized.

Career Prospects after CMA & Salary Packages:

Here is a brief list of job options along with the salaries and profiles post your degree in CMA

Anyone who obtains the CMA certificate got reach to multiple doors of opportunities for themselves in both the domestic as well as international world. CMA majorly helps in enhancing the financial management and accounting skills of the individual.

Major job roles offered after the CMA certification are:

  •  Financial analyst 
  • Cost Manager
  • Financial Manager
  • Relationship Manager
  • Financial Risk Manager
  • Chief Financial Officer
  • Financial Controller
  • Cost Accountant 

CMA salary distribution on the basis of age and years of work experience:

Freshers, who have just cleared the CMA certification in the age group 20-29 years, earn about 10% lesser than the ones who are in the age group 40-49 years and have had an experience of over 20+ years.

Major companies hiring CMA’s

Here is a list of the prospectus companies, that hire CMA’s both in the domestic market as well as globally are:

  • IBM
  • Walmart
  • Tata
  • Citi
  • Nestle
  • EY
  • KPMG
  • Deloitte
  • PwC
  • Larsen & Toubro
  • Walmart
  • Quin Street
  • Standard Chartered

.

Here are some added job roles and the salary packages offered:

  • Chief Financial Officer (CFO) earn Up to 10.6 LPA
  • Financial Analyst earns Up to INR 14.7 LPA.
  • Corporate Controller earns INR 7.4 LPA to INR 12.5 LPA.
  • Financial Controller makes INR 6 LPA to INR 14 LPA.
  • Chief Investment Officer earns Up to INR 50 LPA.

As per researches, CMA also comes under the top 10 most preferred professionals worldwide both in terms of salary packages and knowledge.

Scroll to Top