Courses Details

The CMA (Cost and Management Accounting) Final course is the last level in the journey to becoming a qualified Cost and Management Accountant in India. Conducted by the Institute of Cost Accountants of India (ICAI), the Final course provides advanced knowledge in areas such as cost and management accounting, financial management, strategic management, and more. Completing this course, along with meeting other criteria, allows candidates to become certified CMAs. Here’s a detailed overview of the CMA Final course:

Course Structure

The CMA Final course is divided into two groups, with a total of eight papers:

Group III:

Corporate Laws & Compliance (Paper 13)

• Companies Act
• Securities Laws
• Economic Laws
• Corporate Governance

Strategic Financial Management (Paper 14)

• Financial Planning and Analysis
• Investment Decisions
• Portfolio Management
• Risk Management

Strategic Cost Management – Decision Making (Paper 15)

• Cost Management Techniques
• Strategic Cost Management
• Decision Making Tools and Techniques

Direct Tax Laws and International Taxation (Paper 16)

• Advanced Direct Tax Laws
• Tax Planning and Management
• International Taxation

Group IV:

Corporate Financial Reporting (Paper 17)

• Corporate Reporting Practices
• Consolidated Financial Statements
• Developments in Financial Reporting

Indirect Tax Laws and Practice (Paper 18)

• GST (Goods and Services Tax)
• Customs Law
• Other Indirect Taxes

Cost & Management Audit (Paper 19)

• Cost Audit
• Management Audit
• Operational Audit

Strategic Performance Management and Business Valuation (Paper 20)

• Performance Management
• Business Valuation
• Strategic Performance Measurement

Eligibility

To enroll in the CMA Final course, a candidate must have:

• Passed the CMA Intermediate course.

Duration

The CMA Final course can typically be completed in 6 to 12 months, though the actual duration may vary based on individual study schedules and preparation.

Examination

The CMA Final exams are conducted twice a year – in June and December. Each paper is worth 100 marks, with a 3-hour duration per paper. Students can appear for either one group at a time or both groups together.

Practical Training

Students are required to undergo practical training for a specified period as part of the course. This practical training helps students gain hands-on experience and exposure to real-world scenarios in cost and management accounting.

Career Prospects

After successfully passing the CMA Final exams and fulfilling all ICAI requirements, students become qualified Cost and Management Accountants (CMAs). Certified CMAs can pursue careers in various fields such as cost auditing, financial management, consulting, strategic management, corporate finance, and more. They can work in industries such as manufacturing, services, finance, government organizations, and consultancy firms.

Study Resources

• Official Study Material: Provided by ICAI, covering all topics in the syllabus.
• Reference Books: Various authors provide books focusing on specific subjects within the syllabus.
• Online Classes and Tutorials: Many institutes offer online coaching classes, video lectures, and practice tests.
• Coaching Centers: Numerous coaching centers across India provide classroom teaching for CMA Final courses.

The CMA Final course is designed to equip students with advanced knowledge and skills in cost and management accounting, preparing them for a successful career as certified Cost and Management Accountants.