Certified Management Accountant (CMA) – New Syllabus
- Exam|CMA|
- 5 Min Read
- By Taxmann
- |
- Last Updated on 27 May, 2024
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The Cost and Management Accountancy (CMA) Intermediate Course, offered by the Institute of Cost Accountants of India (ICMAI), is the second stage of the CMA qualification. It builds on foundational knowledge, focusing on advanced cost and management accounting. Course Structure [Each paper is 100 marks, totaling 800 marks]: – Group I: Business Laws and Ethics Financial Accounting Direct and Indirect Taxation Cost Accounting – Group II: Operations Management & Strategic Management Corporate Accounting and Auditing Financial Management and Business Data Analytics Management Accounting Key Changes in Syllabus 2022: – Paper Renumbering: Improved logical flow – Merged Subjects: Direct and Indirect Taxation combined – New Subjects: Business Data Analytics added Training Requirements: – Skills Training: 140 hours covering SAP, Microsoft, Soft Skills, and E-filing – Practical Training: 15 months minimum – IOTP: 7-day Industry Oriented Training Program
The Institute of Cost Accountants of India (ICMAI) is a statutory professional body established by a special act of Parliament – the Cost and Works Accountants Act, 1959, with the objects of promoting, regulating and developing the profession of Cost and Management Accountancy.
Cost Accountancy is one of the much in-demand professional qualifications in the country. A Cost Accountant is a person who offers to perform or performs services involving the costing or pricing of goods and services or the preparation, verification or certification of cost accounting and related statements, among other things.
In order to complete the Cost and Management Accountancy (CMA) Course, candidates are required to clear the CMA examinations conducted by the Institute of Cost Accountants of India (ICMAI) in three stages – Foundation, Intermediate and Final besides successfully completing the necessary trainings.
ICMAI introduced the New Syllabus 2022 for Foundation, Intermediate and Final Course, which is effected from June 2023 term of examinations and onwards. It must be noted that the Syllabus 2016 is no longer continued and the last exam conducted was the December 2023 term.
Some of the major changes in the CMA New Syllabus 2022 include changes in the subjects of the Papers; where some papers have been merged and some removed with majority being change in only the sequence of Papers. However, the ultimate number of Papers at different levels of CMA course as presented remain the same.
Foundation
- 4 Papers
- 8 Papers (2 Groups of 4 Papers each)
Final
- 8 Papers (2 Groups of 4 Papers each)
Following are the changes in Papers at different levels as introduced by the New Syllabus 2022:
| CMA Level | Changes in Papers |
| Foundation |
|
| Intermediate |
|
| Final |
|
Below are the complete details of the Papers covered at different levels:
| Sr. No. | CMA Course Level | Papers | Marks Per Paper |
| 1. | Foundation (4 Papers) | Paper 1: Fundamentals of Business Laws and Business Communication
Paper 2: Fundamentals of Financial and Cost Accounting Paper 3: Fundamentals of Business Mathematics and Statistics Paper 4: Fundamentals of Business Economics and Management |
100 Marks
100 Marks 100 Marks 100 Marks Total: 400 marks |
| 2. | Intermediate (2 Groups of 4 Papers each) | Group 1
Paper 5: Business Laws and Ethics Paper 7: Direct and Indirect Taxation
Group II: Paper 9: Operations Management & Strategic Management Paper 10: Corporate Accounting and Auditing Paper 11: Financial Management and Business Data Analytics Paper 12: Management Accounting
|
100 Marks 100 Marks 100 Marks 100 Marks Total: 400 marks
100 Marks 100 Marks 100 Marks 100 Marks Total: 400 Marks |
| 3. | Final (2 Groups of 4 Papers each) | Group III:
Paper 13: Corporate and Economic Laws Paper 14: Strategic Financial Management Paper 15: Direct Tax Laws and International Taxation Paper 16: Strategic Cost Management
Group IV: Paper 17: Cost and Management Audit Paper 18: Corporate Financial Reporting Paper 19: Indirect Tax Laws and Practice Paper 20: Elective (Any one) 20A: Strategic Performance Management and Business Valuation 20B: Risk Management in Banking and Insurance 20C: Entrepreneurship and Start Up |
100 Marks 100 Marks 100 Marks 100 Marks Total: 400 Marks
100 Marks 100 Marks 100 Marks
100 Marks
Total: 400 Marks |
The students are required to complete their Skills Training, Practical Training and Industry Oriented Training Program (IOTP) as usual. The details on each of the trainings are as follows:
| Skills Training | ‘Skills Training’ is designed to provide students with the targeted training they need to gain the knowledge and abilities necessary to fulfil the specific requirements of their job positions.
‘Skills Training’ comprises of following modules which are designed to be accessed and completed via online mode as and when conducted by ICMAI in different batches round the year:
In all, it is a 140-hours training which is required to be completed along with the assessment test in order to be eligible to appear for Intermediate examination. |
| Practical Training | An important feature of the CMA curriculum is the compulsory practical training of minimum 15 months out of a total training period of 3 years, which helps the students to appreciate the underlying practical applications of the theoretical education scheme.
This practical training is helpful in developing and nourishing a pool of future-ready professionals to ensure that students have an opportunity to acquire on-the-job work experience of a professional nature. |
| IOTP | Industry Oriented Training Program (IOTP) is a 7-days training program which a candidate is required to compulsorily complete after registering for CMA Final course and before filling up the form for Final Examination.
It covers training on compliance requirements and their preparation under various statutes. |
For more information about CMA New Syllabus, click on https://icmai.in/studentswebsite/News_Updates.php.
Thus, the new syllabus introduced by ICMAI emphasizes mainly on building global ready CMAs. It is robust, industry relevant and aligned with global trends.
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