Complete Guide about the CMA Foundation Exam

In today's era of the fastest growing economy, every small business needs to control risk, use knowledge to plan and make decisions, manage risk and performance management skills, and access professional advice. We need leaders who can provide and report. The acronym CMA is for Certified Management Accountant. In short, it is a professional qualification in accounting and financial management and one of the most important qualifications. It is worth emphasising that those with CMA certification can definitely work in financial analysis departments, planning departments, decision support departments, and professional ethics. On the plus side, management accounting opportunities are actually in CMA. To become a CMA in India you have to go through the following three stages:

Stage 1- CMA Foundation

Stage 2- CMA Intermediate

Stage 3- CMA Final

CMA Foundation is the first stage of the CMA course that qualifies the student for the second stage of CMA (CMA Intermediate). This is a national-level exam whose conducting body is ICMAI or The Institute of Cost and Management Accountants of India. CMA Foundation exam is conducted by the ICMAI twice a year in the month of June and December. To clear for the CMA Foundation exams, a minimum of 40% marks is needed in each of the four subjects. In total, a student must acquire an aggregate of 50% marks to qualify for the second stage of the Course. In this blog, you’ll get all the information regarding eligibility, registration, syllabus, exam pattern, and study material required for cracking the CMA Foundation exam.

To become a CMA in India, students have to clear all CMA exams administered by ICMAI. CMA Foundation exam is the first step towards your goal and in order to appear for the CMA Foundation exam, candidates have to meet of the following eligibility criteria:

• Passed class 10 or equivalent: In this case, provisional Admission will be granted. Applicant shall be eligible to appear for examination on passing 10+2 examination. Applicant will have to submit class 12 pass marksheet within 3 years.
• Appeared in class 12 or equivalent: In this case, provisional Admission will be granted. Applicant shall be eligible to appear for examination on passing 10+2 examination. Applicant will have to submit class 12 pass marksheet within 18 months.
• Passed class 12 or equivalent.

After fulfilling the required eligibility criteria, you should have the following documents to ensure your registration for CMA Foundation exam:

• The applicants should publish the subsequent documents at the time of registration.
• Passport size photographs of the candidate (In total 3 photographs)
• Class 12th mark sheet and passing certificates. 
• Copy of Matriculation certificates . 
• Class 10th mark sheet and passing certificate.

Once you have registered for the CMA Foundation, the next step is to prepare for the upcoming examination which is conducted in the months of June and December. If you are preparing to appear for the December exam, then you have to get yourself registered before July 31 of that year and for the June exam you have to do the same before January 31 of that year. In order to crack the exam you have to ace the following syllabus:-

Syllabus for CMA Foundation

Foundation Course:

PAPER 1: FUNDAMENTALS OF ECONOMICS AND MANAGEMENT (FEM)

PAPER 2: FUNDAMENTALS OF ACCOUNTING (FOA)

PAPER 3: FUNDAMENTALS OF LAWS AND ETHICS (FLE)

PAPER 4: FUNDAMENTALS OF BUSINESS MATHEMATICS AND STATISTICS (FBMS)

Let’s see in details about what these Papers cover:

Paper 1: Fundamentals of Economics and Management 

Paper 2: Fundamentals of Accounting

Paper 3: Fundamentals of Laws and Ethics

Paper 4: Fundamentals of Business Mathematics and Statistics

Syllabus and its contents, scheme and/or pattern of examinations, are subject to modifications from time to time. Reference should be made to relevant notifications in this

regard, as may be issued by the Institute from time to time.

Most of you must be thinking what all things you are supposed to carry in the CMA Foundation exam? So, here is the list of the things that you should carry to the exam :-

• A legitimate identification proof (Adhaar card, voter identification card, Pan Card, using licence, and any other.)
• Admit card.
• Battery operated, non-programmable calculators.
• Mathematical tables (if required) will be supplied by way of the government at the examination corridor.
• Registration identification card of the candidate.
• Stationery objects along with a pen (blue or black), pencil, scale, eraser and so on.

CMA Foundation Study Material

One must put in the necessary effort with proper focus and dedication to pass the CMA exam. The candidates should adhere to the syllabus in accordance with ICMAI norms and concentrate on the study materials made available by the organisation. The modules and study materials for the CMA Foundation offered by ICMAI are crucial. Students should also concentrate on the test series and the questions from the previous year, which serve as the best resources for revision and practice. On the official ICMAI website, students can obtain the study guides and practise tests for the CMA Foundation course. Students can also go through these well researched and accumulated books which includes repeatedly asked question lists, questions with complete solutions, chapter wise classification and many more. It available for all the four papers to prepare for the exam:

1st Paper: Fundamentals of Economics and Management

2nd Paper: Fundamentals of Accounting

3rd Paper: Fundamentals of Laws and Ethics

4th Paper: Fundamentals of Business Mathematics and Statistics

Conclusion:

Choosing CMA as a career option is a very wise choice as CMA graduates are in demand in all recruitment fields, including finance, management, accounting, and research institutions. Most companies in India and abroad prefer to work for their own companies or institutions because CMA graduates are well versed in their field. As you are reading this blog I assume that you have already decided to take the first step to excellence so all the very best!