Career Prospects Post CMA final 4

On its official website, The Institute of Cost Accountants of India (ICMAI) has released the CMA Final syllabus. If you are appearing for the CMA Final Group 4 Course, this guide is indeed for you as we provide topics, concepts, and subjects. Additionally, the CMA final is said to be the stepping towards getting the sweet fructification of study and hard work. After completing the CMA final course, you can be considered a master in the world of accounting. The exam type is Objective and Descriptive, and the mode is offline. The maximum marks of the paper are 100 and the duration of the exam is 3 hours.

Eligibility requirements to Buy Online CMA Final Group 4 Courses:

  • You should have cleared the Intermediate course of ICMAI and enrolled for the CMA Final Course.
  • Candidates should have completed a compulsory seven-day Industry Oriented Training Programme (IOTP)
  • Candidates should have registered for the three-year Practical Training element of the course, and at least six months of the training must be completed. 

Some of the subjects you will be studying under CMA Final Group 4 Video Lectures:

  • Paper 17- Corporate Financial Reporting (CFR)

Section A- GAAP and Accounting Standards (20%)- 

  • Accounting Standards

Section B- Accounting of Business Combinations and Restructuring

  • Accounting for Business Combinations & Restructuring

Section C- Consolidated Financial Statements

  • Group Financial Statements

Section D- Developments in Financial Reporting and Other Item of Reporting

  • Recent trends in Financial Reporting
  •  Valuation, Accounting, and Reporting of Financial Instruments and others 
  • Share-Based payments transactions (Ind AS)
  • Reporting Through XBRL (extensible Business Reporting

Section E-Government Accounting in India

  • Paper 18- Indirect Tax Laws and Practice (ITP)

Section A- Advanced Direct Tax and Practice

  • Goods and Services Tax Act & Rules
  • Customs Law
  •  Foreign Trade Policy (FTP) 2015-2020
  • Export Promotion Schemes
  • Special Economic Zone Scheme (With Amended SEZ Rules)

Section B- Tax Practice and Procedures

  • Case Study Analysis
  • Paper 19- Cost and Management Audit

Section A: Cost Audit

  • Nature, Scope, utility, and Advantages of Cost Audit
  •  Companies (Cost Records & Audit) Rules,2014
  •  Professional Ethics, Misconduct, Offences and Penalties
  •  Cost Accounting Standards
  • Cost Auditing Assurance Standards
  •  Format of Cost Audit Report – XBRL – Salient Features

Section B- Management Audit

  • Management Reporting issues under Cost Audit – Performance Appraisal Report
  • Management Audit – Meaning, Nature, Scope, Need for Management Audit and Reporting under Management Audit
  •  Energy Audit, Efficiency Audit, Propriety Audit, and Systems Audit  
  •  Evaluation of Corporate Image – Corporate Development Audit – Corporate strategy Audit
  • Impact of environmental pollution: Social Cost-Benefit Analysis, Corporate Social Audit, and Safety Audit.

Section C- Internal Audit, Operational Audit, and Other Related Issues

  • Concept of Internal Audit
  • Provisions of Internal Audit under The Companies Act, 2013
  • Audit Planning, Audit Programme, Audit working papers Reporting to Management
  •  Receivables Audit, Audit of Hospitals, Hotels, Educational Institutions, Co-operative Societies, Self Help Groups, Non-Governmental Organizations

Section D- Case studies

  • Paper 20- Strategic Performance Management and Business Valuation (SPBV) 

Section A: Strategic Performance Management

  • Conceptual Framework of Performance Management
  • Performance Evaluation & Improvement Tools
  •  Economic Efficiency of the firm – Performance Analysis
  •  Enterprise Risk Management
  •  Risk Management
  •  Corporate Risk Management
  • Corporate Failure

Section B: Business Valuation

  • Business Valuation Basics
  • Valuation Models
  • Valuation of Assets and Liabilities

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 holds the CMA certificate gets the 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

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

Thus, these are subjects that you should mandatorily learn if you want to clear CMA final 4. If you’re going to appear for a single group, you must obtain a minimum of 40% marks on each paper.

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