CMA Course Full Form: Cost And Management Accounting
CMA Full Form is Cost and Management Accounting. It is a three-level professional program offered by the Institute of Cost Accountants of India (ICMAI). The three levels are:
The CMA course focuses on financial understanding to ensure that organizations are competent and successful through insightful financial data and analysis. This course helps students to learn how to manage costing and finance of any organization.
Any candidate who wishes to pursue the CMA course has to register with ICMAI and clear all three examinations.
CMA course is gaining a lot of popularity in recent years. Due to the increasing demand and scope, it is being considered the course of the future.
Many students ask this question “what is the full form of CMA?”. CMA’s full form in India as mentioned above is “Cost and Management Accounting”.
CMA Course Details
|CMA Full Form||Cost Management Accounting|
|Conducted By||ICMAI – The Institute of Cost and Management Accountants of India|
|CMA Course Fees||CMA Foundation: INR 6000
CMA Intermediate: INR 23,100
CMA Final: INR 25,000
|Average Salary||Up to INR 7 LPA|
Advantages of pursuing the CMA Course
CMA course offers tremendous career benefits and opportunities in India. From high growth opportunities to high salaries, the CMA course offers you all the skill sets to land a great job. In India, the average annual income for a rookie in CMA is 7 lakhs, however, it can go even higher. You’ll have a lot of doors and chances open to you after the CMA course competition goes well. Additionally, it gives you the chance to work internationally.
Let’s explore some of these benefits in detail.
Great Job Opportunities: CMA course can throw some really good job opportunities your way. You can work in huge organizations, corporations, and multinational companies with a terrific job profile and climb up the ladder as high as you want and work hard for.
Companies such as ITC, ICICI Bank, Wipro, Ford, Amazon, Accenture, Larson, and Toubro are regular recruiters.
CMA can also land you managing positions in public and private sector enterprises like Managing Directors, Finance Directors, Financial controllers, Chief Financial Officers, Cost Controller, Marketing Managers, and many other important positions.
High Salary: With great jobs come great responsibilities come great salaries. No doubt CMA can lead to high earnings. A student who has cleared intermediate group 1 level can get between 1 – 6 LPA, and after clearing group 2, if he/she scored top rank in the examination can get between 3.8 – 17 LPA.
But this is just the salary before even completing the entire three-level course. A CMA certified (who has cleared all three levels) average salary is up to 7 LPA and can go even higher. High positions such as CFO (Chief Financial Officer) can earn up to 40 LPA.
Global Opportunities: Demand for a CMA is not just in India but all over the world. A CMA certified can even get opportunities to work globally in continents like America, Europe, Africa, the Middle East, etc.
Business Appeal: Another great benefit of pursuing the CMA course is how it provides you with knowledge of business and accounting together. You can therefore work in business associations and make important business decisions and handle other operations very well.
The potential for a Cost and Management Accountant is somewhat limited in India because not every company or organization needs a cost audit, which is a drawback. Only the public sector, MNCs, and large production/service enterprises require the services of a CMA.
For more information or details about the CMA course, you can visit TopLad. We also offer classes and study material required to complete the CMA course.
Check out our blog on CMA Course – A Complete Guide 2022 for a more detailed overview.