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Cost & Management Accountancy

Cost & Management accountancy (CMA): new format from 2016

CA, CS, cost accountant – in corporate sectors

Cost accountant – gives guidelines to limit cost in production and services. Provides Legal aid to companies regarding excise and customs laws, company laws, income tax laws. Since GST bill has been passed, demand for cost accountants is on the rise. New syllabus conforms to international federation of accountants, international accounting education standards board.

3 phases in CMA studies – foundation course, intermediate, final

Foundation course eligibility – +2. After X, join for foundation course coaching alongwith +2. This 6-month course (fees – 4000) covers the following subjects:

  • Fundamentals of accounting
  • Law and ethics
  • Economics & management
  • Business mathematics & statistics
  • So far, MCQs. 2016 onwards, subjective

 

Intermediate: one year duration. (20,000)  Eligibility – +2 / any graduate. Graduates can apply directly. No need of articleship alongwith this, according to the new guidelines

2 groups , 8 subjects

Group I :

  • Financial accounting
  • Law and ethics
  • Direct taxation
  • Cost accounting

Group II:

  • Operations management and strategic management
  • Cost and management accounting and financial management
  • Indirect taxation
  • Company accounts and audit

Final : eligibility – pass intermediate. One year duration fees – 17000. 8 subjects, 4 in each group, 2 groups. Group I:

  • Corporate law & compliance
  • Strategic financial management
  • Cost management and decision making
  • Direct tax law & international taxation

Group II:

  • Corporate financial reporting
  • Indirect tax law and practices
  • Cost and management audit
  • Strategic performance management and business valuation

Demand: so far (2016) there are just below 50000 registered cost accountants. On passing intermediate, job offers in private firms. Or practice on one’s own. Managing director, finance director, chief finance officer, financial controller, cost controller are the designations

The Institute of Cost accountants of India has 5 chapters in kerala

Kochi – 04842400130, 9847043031

Kottayam – 0481 2563237, 9447112608

Thrissur – 0487 3292440, 9400282423

Tvm – 0471 2723579, 9446176505

Palakkad – 0491 2576097, 9387602750

Toll free no. 18003450092, 1800110910 (Mon – Sat . 10 to 6)

www.icmai.in

email: admission@icmai.in

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