Courses Details

The CMA (Cost and Management Accounting) Intermediate course is the second level in the journey to becoming a Cost and Management Accountant in India. Conducted by the Institute of Cost Accountants of India (ICAI), the Intermediate course builds on the foundation laid in the CMA Foundation course and delves deeper into the intricacies of cost and management accounting, taxation, company law, and more. Here’s a detailed overview of the CMA Intermediate course:

Course Structure

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

Group I:

Laws and Ethics (Paper 5)

• Company Law
• Industrial and Economic Laws
• Ethics

Financial Accounting (Paper 6)

• Introduction to Financial Accounting
• Accounting for Special Transactions
• Preparation of Financial Statements
• Partnership Accounts
• Company Accounts

Taxation (Paper 7)

1. Indirect Taxation

• GST in India
• Customs Laws
• Other Indirect Taxes

        2. Direct Taxation

• Basics of Income Tax
• Heads of Income and Computation
• Tax Management, Administrative Procedures, and ICDS (Income Computation and Disclosure Standards)

Cost Accounting (Paper 8)

• Basics of Cost Accounting
• Costing Methods
• Cost Accounting Standards and Analysis

Group II:

Operations Management & Strategic Management (Paper 9)

• Operations Management: Production Planning, Inventory Management, Quality Control
• Strategic Management: Strategic Analysis, Formulation, Implementation

Financial Management And Data Analysis (Paper 10)

• Advanced Cost Accounting
• Marginal Costing
• Budgetary Control
• Financial Management Principles and Techniques

Company Accounts & Audit (Paper 12)

• Company Accounts: Corporate Financial Reporting, Consolidation of Accounts
• Audit: Basics of Auditing, Auditing Standards, Company Audit

Eligibility

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

• Passed the CMA Foundation course, or
• Completed graduation in any discipline other than Fine Arts.

Duration

The CMA Intermediate course typically spans 6 to 12 months, though this may vary based on individual study schedules and preparation.

Examination

The CMA Intermediate 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 training helps them gain practical exposure and experience in the field of cost and management accounting.

Career Prospects

After passing the CMA Intermediate exams, students can enroll in the Final course. Once they complete the Final course and meet other ICAI requirements, they become qualified Cost and Management Accountants (CMAs). CMAs have career opportunities in various sectors, including manufacturing, service, financial institutions, consultancy firms, and government organizations.

Study Resources

• Official Study Material: Provided by ICAI, covering all topics in the syllabus.
• Reference Books: Books by various authors that focus 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 Intermediate courses.

The CMA Intermediate course is designed to deepen students' understanding of accounting, taxation, and management principles, equipping them with the knowledge and skills required for a successful career in cost and management accounting.