A Structural Overview Of The CMA Intermediate Course!!

Introduction:

If you are reading this blog then I am assuming that you have already cleared your CMA Foundation, so congratulations! You have cleared the first stage. Now, here in this blog, we'll talk about the CMA Intermediate Exam. CMA Intermediate is the second level of the CMA Course which is conducted by the Institute of Cost and Management Accountants of India. ICMAI announces its dates, exam patterns, syllabus, and other important communications for the CMA midterms. All candidates who pass the CMA Foundation or equivalent exam are eligible to enrol in the CMA Intermediate course. However, before taking the exam, students should know all the important information about the ICMAI CMA Intermediate Course. So here we have mentioned all the important details about its eligibility, registration, exam pattern, admit card & result.

The Cost Management Accounting programme, or CMA programme, is one of the most practical programmes in the financial industry. The CMA course is a fantastic option for anyone who wants to succeed in the competitive sector of management accounting. The programme has recently gained popularity among students studying commerce or those looking to work in the industry. A CMA is a professional who specialises in taxation, particularly indirect taxation, and services such as costing, pricing of goods and services, cost record verification or certification, and taxation. In contrast to pure accounting experts, CMAs are in demand across all organisational functions.

Eligibility for CMA Intermediate Course

To enrol in the CMA Intermediate Course, students must meet the eligibility criteria set by ICMAI. After confirming the criteria, you can proceed to fill out the form. Eligibility criteria for CMA Intermediate are as follows:-

1. Have passed the Senior Secondary School / Higher Secondary School Examination (10+2)
2. Or have passed the Foundation Course of the Institute of Cost Accountants of India (ICCI) or the Certificate in Accounting Technicians Course (CAT) of the Institute of Cost Accountants of India (ICCI).
3. An undergraduate degree from a recognized university or a diploma or degree in any subject other than music, dancing, photography, painting, sculpture, and the like.

Registration Fee for Intermediate Course

To complete the CMA Intermediate registration process, you must pay the required fee. For students who wish to pay without instalments, the CMA midterm registration fee is Rs.22,000 for them. Students who wish to pay in instalments must pay Rs. 12000 and Rs. 10,000. 

Exam Pattern for Intermediate Course

Once enrolled in the CMA Intermediate course, students should start preparing. However, to prepare effectively, you should be familiar with the CMA Intermediate exam pattern. You must also know about the exam duration, type of exam, assessment scheme, subject-wise weightage and the language of the exam. Both objective and subjective questions are asked and rated out of a maximum of 100 marks. The time given for the exam is 3 hours. The total number of questions is 120 and no negative score is given.

Subjects for Intermediate Course: 

CMA Intermediate Group-I Subjects

Financial Accounting- The practice of recording, summarising, and reporting the financial transactions resulting from ongoing business operations is known as financial accounting. These activities are described in the accounts that are prepared, such as the balance sheet, income statement, and cash flow statement, which show the company's financial performance over a specific time period.

Laws and Ethics- This paper provides a descriptive study of corporate law, corporate governance, and liability. The syllabus is intended to help you understand corporate law principles related to compliance and decision-making. He also analyses and interprets the implications of relevant laws.

Direct Taxation- This section deals with the provisions of the Income Tax Act 1961 relating to the calculation of income based on various items for individuals and HUFs and the determination of gross income and tax liability. It also includes provisions regarding the filing and assessment process of tax returns.

Cost Accounting- Cost accounting is a technique of managerial accounting that targets to seize the whole manufacturing price of a commercial enterprise with the aid of measuring the variable prices of every manufacturing section in addition to constant prices, which includes a hire expense.

CMA Intermediate Group-II Subjects

Operation Management and Strategic Management- Strategic management focuses on the future of the company, expanding a business plan to last for three to five years. Operations management includes planning and coordinating work. Strategically, this involves long-term planning and structuring work. Rather, the task of operational strategy is to design operational systems, and the co-configuration of resources and processes, so that the resulting capabilities match the desired competitive position of the organisation. Tactically, the job of operations management is to leverage the operating system to best match supply and demand.

Cost and Management Accounting and Financial Management- Cost management accounting is a type of accounting that aims to maximise profits by managing income and expenses. We provide data and reports that managers use to form strategies for long-term profit and growth. Financial Management deals with managing the financial aspects of a business and assists in various solutions to achieve desired goals and objectives. It handles all financial aspects of business and helps to avoid risks and solve financial problems.

Indirect Taxation- An indirect tax is a tax in the end paid via the means of a one-of-a-kind taxpayer, the only one who collects and remits the tax to the authorities. They are taxes that aren't paid to the authorities directly. 

Company Accounts and Audits- 

In this course, you will gain a thorough understanding of the principles, standards, and procedures regarding financial accounting statement preparation. 

Admit Card for Intermediate Course

Once the application review form window closes, ICMAI will post your admission card on the official CMA midterm website. From there, students must download their admission letter before the exam. No one can participate in the exam without downloading it. You must carry your admit card to the testing centre.

 Results for CMA Intermediate Course will be published by ICMAI in online mode. Candidates must use their registration number to log into the ICMAI website to view and download results. A list of ICWAI rankings with centre name, position number, and candidate name is also available. Upon completion of the Intermediate course, the student is eligible to enrol and begin preparation for their CMA Final course.

Conclusion: CMA is one of the top courses of India that any student can pursue for his bright future. CMA Course is conducted by ICMAI and it has three levels. To become a CMA student must qualify all the three levels of this course, which are CMA Foundation, CMA Intermediate, and CMA Final. As you have read the blog I hope now you must have understood about the CMA Intermediate Exam and all the important details related to it. Thanks for reading our blog. 

All the best!!