How to become a CMA?
Understanding the CMA certification
The CMA certification is awarded by ICAI (Institute of Cost Accountants of India). As we have indicated already, it validates that you are proficient in financial management and management accounting. It provides you with the skills you need in areas such as the following:
• financial planning
• analysis
• control
• decision support
• professional ethics
This certification is recognized around the and as such improves your career prospects in different industries.
Eligibility criteria
The eligibility criteria of the program depend on the level where you are entering the same. For the CMA Foundation level, you must have passed both Class 10 and 12 or equivalents of the same. Students who have received a National Diploma in Commerce Examination from a recognized board such as AICTE (All India Council of Technical Education) will be accepted into the level as well. For the CMA Intermediate level, you must have passed the SSC (Senior Secondary Certificate) or an equivalent of the same. This is also applicable to the students who have passed the Foundation level or the entry level of the CAT (Common Admission Test) of the ICAI (Institute of Cost Accountants of India). The CMA Final level is open to students who have done the Intermediate level in their schools. Graduates of all streams with the exception of Fine Arts are accepted into this level as well.
Examination structure
As a candidate, you will have to apply for the application process before the due date when the examination is being held and this is applicable for all the levels. You have to start the process by visiting the official website of the examination — https://icmai.in/. These exams are held twice a year in December and June. It is a descriptive exam in pen and paper mode where each paper is three hours long and carries 100 marks.
Steps to become a CMA in India
The various steps for becoming a CMA in India may be enumerated as below:
• enrolling for the CMA program
• preparing for the examinations
• clearing the examinations
• practical training
• membership application
• compliance with ethical standards
You have to first register with the ICAI and apply to be a part of the CMA program. It is very important in this case to join a reputed institute and use the study materials that you get from ICAI to get ready for the three levels of the same. If you do not clear these exams you will not become a CMA.
Once you have completed the Intermediate Course it is important that you go for practical training as mandated by the ICAI. Once you have got that out of the way and also cleared all the examinations it is time you apply for the membership of the ICAI. Ensure you always follow ICAI the code of conduct and ethical standards as a CMA.
Additional tips for success
The three most important factors in this particular context are consistent effort, guidance, and constant updating of oneself as a student. You must be disciplined with your study schedule and be consistent in your efforts towards getting ready for the examination. You need to engage with professionals who have sufficient experience in the domain as well as seniors who can mentor you with the right kind of advice and guidance for success. You must also stay updated with the latest trends in the industry, advancements in accounting and management practices, and changes in rules and regulations.
Becoming a CMA needs your wholehearted dedication, commitment to upholding ethical standards in the domain of finance, and rigorous preparation. Having the CMA certification is proof of your expertise and also opens doors to a wide variety of career options in the corporate world. This provides you with the avenues that you need to achieve success and growth in your profession. It is important in this case that you follow the pathway that has been laid out by ICAI and have a steadfast approach to achieving your goal.
