Cost and Management Accounting (CMA)
A professional course for roles in cost control and financial planning.
Description
Cost and Management Accounting (CMA) is a professional certification that trains students in cost accounting, cost control, financial planning, budgeting and management accounting. It is designed for careers in cost control, financial planning and management accounting across industries.
Students learn cost accounting, management accounting, financial management, cost audit, budgeting, pricing, performance management and strategic management. The course is conducted by the Institute of Cost Accountants of India (ICMAI) in three stages — Foundation, Intermediate and Final.
Certified graduates work as cost accountants, management accountants, cost consultants, financial controllers and CFOs in manufacturing, services, consulting firms and corporates. The CMA certification is recognised in India and globally.
Entrance Exams
CMA Foundation
Institute of Cost Accountants of India (ICMAI)
Entry-level exam for Class 12 students; followed by Intermediate and Final exams.
Direct Entry (CMA Intermediate)
Institute of Cost Accountants of India (ICMAI)
Graduates and specified professionals can enter directly at the Intermediate level.
Job Roles
Cost Accountant
Manages cost accounting, costing systems and cost control for companies.
Management Accountant
Handles management accounting, budgeting and performance reporting.
Cost Consultant
Advises companies on cost optimisation, pricing and profitability.
Financial Controller / CFO
Leads finance and accounting functions for organisations (with experience).
Salary
Fresher (0–2 yrs)
Manufacturing and consulting firms pay at the higher end.
Mid-level (3–6 yrs)
Management accountants and cost consultants earn more with experience.
Senior (7+ yrs / Financial Controller)
Financial controllers and CFOs at large firms earn well above this range.
Top Colleges / Institutes
- Institute of Cost Accountants of India (ICMAI) — chapters nationwide
- ICMAI-authorised coaching institutes (state-wise)
- Private CMA coaching institutes
- Online / distance CMA programmes
- Articleship under practising CMA / firm