CMA also known as Cost Management Accountant is a certification program. The CMA foundation is the first stage of the CMA program that the candidates need to clear to get on to the next stage. The exam is conducted by The Institute of Cost Management Accountants of India.
Check: CMA Course Details
The Institute exam of CMA Foundation is conducted 2 times in the year i.e. in the month of July as well as December. The examination is conducted in an offline mode. Candidates who have passed the class 12th exam can register themselves for the exam. The registration fee for the CMA foundation is INR 6000.
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CMA foundation consists of 4 subjects namely business laws and business communications, cost and financial accounting, business mathematics and statistics, business economics and management. Candidates need to clear all four subjects with minimum passing marks of 40% or above and a total aggregate of 50% or above.
CMA Foundation: Course Highlights
Discussed below is the detailed highlights of the CMA course with all the required information for better understanding,
Degree | Certificate course |
Full form | Certified Management Accounting |
Duration | 3-4 years |
Minimum Eligibility | Bachelor degree with 2 years of experience |
Average Fees | INR 1,00,000 |
Average Salary | INR 7,00,000 |
Employment Roles | Finance Manager, Budget Analyst, Internal Auditor, Financial Analyst, Cost Accountant, etc. |
Top Recruiters | AT&T, Alcoa, Cargill, Boeing, Bank of America, etc. |
CMA Foundation: Admission Process
To get into the CMA Foundation, candidates are required to follow certain steps. Discussed below are some of the steps that help the candidates to appear for the CMA Foundation examination. Go through it briefly,
- Candidates after completing class 10th can start their foundation course or any other equivalent degree
- Candidates can also start after class 12th board exam.
- Candidates need to enroll in the program by providing the required documents
- Some of the documents include a class 10th certificate, photographs, class 12th certificate etc.
- For clearing foundation courses, candidates need to clear the examination to get onto another level.
See Also: CMA Duration
CMA Foundation: Eligibility
The candidates must be aware of the ICMAI CMA Foundation eligibility criteria. The candidates must check the eligibility criteria before filling up the form. Some of the important eligibility criteria are discussed below for your reference,
- Candidates must be citizens of India only. Candidates from other nationalities are not eligible.
- There is no such minimum age limit for the program.
- Candidates must have completed class 10th.
- Candidates must have completed class 12th with a minimum aggregate of 50% or above from a recognized board.
- Candidates who have completed education from any state board of technical education under the authority of the All India Council, or Diploma in Rural Service Examination conducted by the National Council of Higher Education.
- Candidates waiting for their results can also apply for provisional admission.
CMA Foundation: Documents required
There are certain documents that need to be enclosed with the application form. These documents are the following:
- Attested copy of matriculation certificate
- Attested copy of 10+2 certificate or marks statement
- 3 Passport size photos (one pasted on the application form, one pasted on the Identity card and one attached with the application).
When to apply?
Admission to the foundation course is open throughout the year. It is up to the students when they want to appear. If they want to appear for the June Term Examination, then the candidates must apply before 31st January of the year and for the December term Examination, candidates must apply before 31st July of that year.
Particulars | December Cycle | June Cycle |
---|---|---|
Application Period | August 10, 2022 - November 13, 2022 | February 10, 2023 - To be Announced |
Exam Date | January 21, 2023 & January 23, 2023 | To be Announced |
Result Declaration | January 31, 2023 | To be Announced |
Where to apply?
Students are required to submit their application form, duly filled together along with all the relevant documents to respective regional councils. Tabulated below is the table showing the address of Regional councils and the areas covered.
Address of Regional Councils | Areas Covered |
---|---|
Western India Regional Council "Rohit Chambers",4th Floor Janmabhoomi Marg,Fort Mumbai - 400 001 Ph : 022-22872010/ 22841138/ 22043406/ 22043416 Fax : 91- 022- 22870763 Email: wirc@icmai.in Web site: www.icwai-wirc.org | The State of Chhattisgarh, Gujarat, Madhya Pradesh, Maharashtra, Goa and the Union Territories: Daman Diu., Dadra, and Nagar Haveli. |
Southern India Regional Council 4, Montieth Lane, Egmore,Chennai - 600 008 Ph:044-28554443/28554326/28528219 Fax : 91- 044- 28554651 Website: www.sircoficwai.com Email: sirc@icmai.in | The State of Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Pondicherry and the Union Territory: the Lakshadweep |
Eastern India Regional Council 84, Harish Mukherjee Road,Kolkata - 700 025 Ph : 033 -24553418 /24555957 Fax : 91 033-2455-7920 Email: eirc@icmai.in | The States of Assam, Arunachal Pradesh, Bihar, Jharkhand, Manipur, Maghalaya, Mizoram, Nagaland, Orissa, Tripura, West Bengal, Sikkim, the Union Territories: The Andaman and Nicobar Islands and Foreign Countries. |
Northern India Regional Council 3, Institutional Area, Lodi Road,New Delhi - 110 003 Ph : 011 - 24626678 / 24615788 Fax : 24622156 Email: nirc@icmai.in | The States of Delhi, Haryana, Himachal Pradesh, Jammu and Kashmir, Punjab, Rajasthan, Uttar Pradesh, Uttaranchal and the Union Territory: Chandigarh. |
CMA Foundation: Syllabus
The syllabus of CMA Foundation comprises 4 subjects. The detailed subjects is discussed below for your reference,
Paper 1- Fundamentals of Business Law and Business Communication | Paper 2 - Fundamentals of Financial and Cost Accounting (FFCA) |
---|---|
Introduction | Accounting Fundamentals |
Indian Contracts Acts, 1872 | Accounting for special transaction |
Sales of Goods Act, 1930 | Preparation of Final Accounts |
Negotiable Instruments Act, 1881 | Fundamentals of Cost Accounting |
Business Communication | - |
Paper 3- Fundamentals of Business Mathematics and Statistics (FBMS) | Paper 4- Fundamentals of Business Economics and Management (FBEM) |
Arithmetic | Basic concepts |
Algebra | Forms of Market |
Calculus- Application in Business | Money and banking |
Statistical Representation of Data | Economic and Business Environment |
Measures of central Tendency and Dispersion | Fundamentals of Management |
Correlation and Regression | - |
Probability | - |
Index Numbers and Time series | - |
CMA Foundation: Exam Pattern
CMA Foundation is the entry level exam for Cost Accountants. Each paper has a duration of 120 minutes and comprises 4 subjects. The subjects are mentioned below for your reference,
- Paper 1- Fundamentals of Business Law and Business Communication
- Paper 2 - Fundamentals of Financial and Cost Accounting (FFCA)
- Paper 3- Fundamentals of Business Mathematics and Statistics (FBMS)
- Paper 4- Fundamentals of Business Economics and Management (FBEM)
The exam pattern of the CMA Foundation is discussed below for your reference,
Particulars | Details |
---|---|
Mode of Exam | Remote Proctored exam from home |
Conducting body | Institute of Cost Accounts in India |
Types of Questions | Multiple Choice Question |
Exam Duration | 120 Minutes |
Total Marks | 100 |
Number of Questions | 100 |
No. of groups | 4 |
CMA Foundation: Registration Fees
The Institute of Cost Accountants of India (ICMAI) has released the application for the CMA foundation program 2023 for June Session. The CMA Foundation fee is INR 6000 which can be paid online and in postal mode.
Check: CMA Course Fees
Candidates can also check the fees on the official website of the ICMAI. The detailed fees structure is given below:
Particulars | Amount | Remarks |
---|---|---|
Foundation | INR 6000/- | Payable on or before 31st January for June term and 31st July for December term for examination |
Cost of Prospectus | INR 250/- | - |
CMA Foundation: Study Material
The study material of CMA Foundation is provided below for your reference,
Name of the book | Author |
---|---|
CMA foundation all subjects combo | CA Mohit Agarwal |
CMA Foundation | unacademy |
Fundamental of Accounting | NS Zad |
Financial Accounting | Jasmine kaur |
CMA Foundation: FAQs
Ques. What is a CMA course?
Ans. CMA is a cost management accounting course where candidates learn about corporate accounting and strategic management.
Ques. Which colleges in India offer CMA?
Ans. The colleges that offer CMA in India are:
- Gandhi Shanti Niketan Maha Vidyalaya
- Jivkaran Institute of Business Administration
- College of Management and Economic Studies
- Chanakya Business School
Ques. What is the duration of the CMA course?
Ans. The minimum duration for the CMA course is about 3-4 years.
Ques. Is there any scope for CMA abroad?
Ans. There is a lot of scope for CMA graduates abroad in the USA, Canada and Middle East since there are many opportunities for accounting and finance professionals abroad.
Ques. What is the starting salary for CMA graduates?
Ans. An entry-level CMA candidate with less than three years of experience earns about INR 7-8 LPA.
Ques. How many groups are there in the CMA Foundation?
Ans. There are 2 groups in the CMA Foundation. It is dependent upon the candidate to choose whether they want to give both the groups at one go or one group in one session.
Ques. Is there a negative marking in the CMA Foundation exam?
Ans. No, There is no negative as the examination is both objective as well as descriptive. The candidates are awarded either full marks or no marks.
Ques. What are the total marks of CMA Foundation ?
Ans. CMA Foundation is conducted which is of 100 marks each. The candidates are required to score a minimum passing marks in each paper to clear the exam.
Ques. Is CMA difficult ?
Ans. Yes, the CMA exam is difficult to clear. Candidates need to be very clear in their concepts to understand the concepts.
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