ICMA Full Form

What is the full form of ICMA?

ICMA stands for Institute of Cost and Management Accounting. ICMA works under the ministry of corporate affairs of the government of India. ICMA conducts an entrance examination and provides professional training and needed education for candidates who wish to excel in their career in cost accounting management. ICMA is considered one of the toughest certification courses and yet confusing because ICMA is also known as CMA, ICWAI, ICMAI, and CWA.

What does an ICMA-certified person do?

A certified Cost and Management Accountant is a professional with knowledge in financial planning, taxation, cost analysis, control, decision support and professional ethics.

Level of exams conducted by ICMA

• 1-Foundation level

• 2-Intermediate level

• 3-Final level

Syllabus of ICMA

Foundation level:

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.

Intermediate level:

Paper 5: Business laws and ethics

Paper 6: Financial Accounting

Paper 7: direct tax and indirect tax

Paper 8: Cost accounting

Paper 9: Operations management and strategic management

Paper 10: Corporate accounting and auditing

Paper 11: Financial Management and business data analytics

Paper 12: Management Accounting

Final level:

Paper 13: Corporate and comics laws

Paper 14: Strategic finance management

Paper 15: Direct tax laws and international taxation

Paper 16: Strategic cost management

Paper 17: Cost and management audit

Paper 18: Corporate financial reporting

Paper 19: indirect tax laws and practice

Electives anyone:

Paper 20A: Strategic performance management and business valuation

Paper 20B: Risk management in banking and insurance

Paper 20C: Entrepreneurship and startup

Eligibility criteria

A student who wants to pursue ICMA should have passed 10+2. An elementary passed student can appear for the foundation level, but he can only give his intermediate level after the 12th.

All the graduated students can apply except ARTS stream students.

If a student is applying for ICMA, he can skip the foundation level and directly give intermediate level if he has graduated from any field except Arts or cleared his CAT and CA entrance exams. A student who wishes to give final levels should have at least 15 months (may differ) article ship.

After the final level, students should have at least 3-year training.

Fees structure

The fee structure depends upon the level at which you are giving.

Foundation level fee- 6,000 /-

Intermediate level fee - 23,100/-

Final level fee- 25,000/-

An instalment facility is available.

Career in ICMA

Certified ICMA can open up his firm

Various jobs such as :

• Internal control manager

• International audit

• Management accountant

• Coating and taxation auditor

• Financial reporting and strategies making

• Cost audit and assurance

• Direct and indirect taxation

• Internal audit

• Investment banking

And many more.