Cost & Management Accountancy

Perusing CMA - Cost and management accounting is pretty easy. The popularity of CMA among 12th students has been increasing.


Institute of Cost Accountants of India – ICMAI.

It was during the early years of World War II, that the concept of cost as an independent entity made its beginning in the industrial circles of the world. Due to the prohibitive cost of defense operations, the then governments at war found it difficult to ascertain the price of defense purchases and thus evolved the concept of cost + contracts. This forced the contractors to submit the cost of the work to be undertaken by them, to be awarded the contract.

1945 brought the end of the war, and the nations ravaged by the effects of war began large-scale reconstruction of their economies through industrialization. The end of colonialism meant that many nations gained their independence, and this process increased rapidly. The late forties and fifties can be termed the golden era of industrialization. The importance of cost accounting as being central to the formation of government policies provided the foundation of the rapid growth of the profession. What began as a mere exercise in estimating the cost later developed into a movement for efficiency and optimum utilization of scarce resources.

“Behind every successful business decision, there is always a CMA“

“The cost-cutter of a product/service is none but a CMA“

“The CMA Professionals would ethically drive enterprises globally by creating value to stakeholders in the socio-economic context through competencies drawn from the integration of strategy, management and accounting“

“If we have to succeed in the globalized world, we have to enlarge the scope of Cost Audit to cover all aspects of manufacturing and service sector activities including Health Care and Education “ – Dr. APJ. Kalam, Former President of India.

“Without Cost Accountancy, one works rather in a vague undefined way without knowing where an industry exactly stands but in cases where there are Cost Accountants, correct assessment of its proper growth & working can easily be made.” – Mr. Lal Bahadur Sastry, Former PM of India

The Institute of Cost Accountants of India (erstwhile The Institute of Cost and Works Accountants of India) was first established in 1944 as a registered company under the Companies Act with the objects of promoting, regulating and developing the profession of Cost Accountancy. On 28th May 1959, the Institute was established by a special act of Parliament, namely, the Cost and Works Accountants Act, 1959 as a statutory professional body for the regulation of the profession of cost and management accountancy. The Institute of Cost Accountants of India (ICMAI, Kolkata) is the only recognized statutory professional organization and licensing body in India specializing exclusively in Cost and Management Accountancy. ICMAI is the First Largest Cost & Management Accountants Body in Asia and the Second Largest in the World.

How to become a Cost & Management Accountant (CMA)?

Foundation Level

  • Eligibility: SSLC pass or HSC(+2) pass or 2 years commerce diploma pass or 3 years engineering diploma pass or UG or PG Less than 55% aggregate.
  • Papers: 4
  • Requirements to pass level: 40% in each paper and 50% as aggregate.

Direct Entry Route

  • Eligibility: Any UG or PG degree (other than music, dancing, photography, painting and sculpture and the likes) or Engineering Graduates or Engineering Graduate students who have cleared 4 Semesters.

Intermediate Level

  • Eligibility to register : CMA Foundation pass or CA Intermediate pass or CS Executive pass.
  • Eligibility to appear: Complete Communication and Soft Skill (CSS) Training – 3 days + Complete Computer Training – 100 hrs.
  • Papers: 8
  • Requirements to clear Intermediate Level: 40% in each paper and 50% as aggregate.

Final Level

  • Eligibility to register Final Course: CMA Intermediate pass
  • Eligibility to appear for Exam: Complete Industry Oriented Training Programme (IOTP) – 7 days + Complete Practical Training – 3 years (15 months mandatory)
  • Papers: 8
  • Requirements to clear Final Level: 40% in each paper and 50% as aggregate + Successful completion of 3 years of Practical Training.
Papers and Marks in CMA Course
ACCA after CMA
CMA Professionals are EXEMPTED from 9 Papers (F1 to F9) and should clear only 5 Papers (Paper-1, Paper-2 & Paper-3 + any 2 Optional Papers) at Final Level (Strategic Professional Level) in ACCA Course.