Last updated on July 24th, 2024 at 07:19 am
Opting to pursue a degree in CMA or Cost and Management Accounting is a terrific decision because the course is meant to develop young brains into tomorrow's financial advisors and analysts.
These days, students studying commerce, particularly those who aspire to become successful in the areas of cost and leadership accounting, are taking a lot of interest in the CMA course. In this blog, we'll discuss the CMA course fees and how much it costs to complete a CMA course.
CMA Course in India
The Institute of Cost Accountants of India (ICAI) in India offers the CMA (Certified Management Accountant) course as an accounting qualification. Students who complete it will have advanced knowledge of financial planning, cost control, and risk management. The Foundation, Intermediate, and Final phases make up the course structure. Graduates frequently go on to work in consulting, financial planning, and management accounting.
Employment possibilities arise in a multitude of businesses and sectors due to the considerable esteem the CMA certification has in markets across the globe. The course is a complete programme for prospective financial analysts as it blends demanding academic instruction with real-world experience.
CMA Course Fees
CMA Foundation, Intermediate and Final are the three exams that constitute the CMA Course. There are separate registration and application fees for every CMA level. Due to the two groups in CMA Intermediate and CMA Final, candidates will need to pay for each group individually.
For CMA Final level students with graduation, the CMA course fees is INR 4,500. The CMA course fees is INR 6,000 for post-graduates or other professionals, and INR 5,400 for certified CMAs.
The entire CMA course fees in India is INR 53,000. CMA Foundation registration costs INR 6,000, CMA Intermediate registration costs INR 22,000, and CMA Final registration costs INR 25,000.
CMA Course Fees Structure
The CMA Course fees structure is quite detailed. Here is the detailed breakdown of the CMA Course fees:
| Particulars | Information |
| Price of Prospectus | INR 250 |
| CMA Course Fees | CMA Foundation course fee: INR 6,000
CMA Intermediate course fee: INR 23,100 |
CMA Foundation Fees
There are primarily two categories into which the CMA Foundation fees fall. The CMA Foundation's application and registration fees are shown below.
CMA Foundation: Registration Fees
| Particulars | Fees (INR) |
| Foundation | INR 6,000 |
CMA Foundation: Application Fees
| Particulars | Fees (INR) |
| Application Fees (India) | INR 12,000 |
CMA Intermediate Fees
There are two primary categories into which the CMA Intermediate fees fall. The CMA Intermediate Registration and Application Fees are shown below.
CMA Intermediate: Registration Fees
| Particulars | Fees (INR) |
| Intermediate | INR 22,000 |
CMA Intermediate: Application Fees
| Particulars | Fees |
| Intermediate Course (Single group) | INR 1,200 |
| Intermediate Course (Both Groups) | INR 2,400 |
CMA Final Fees
The CMA Final Fees are divided into two groups. The following lists the CMA Final application and registration fees:
CMA Final: Registration Fees
| Particulars | Fees (INR) |
| Final | INR 25,000 |
US CMA Course
The Institute of Management Accountants (IMA) in the United States offers the Certified Management Accountant (CMA) programme, which gives professionals proficiency in both managerial accounting and tactical decision-making. It is divided into two sections: Financial Planning, Performance, and Analytics, and Strategic Financial Management. It covers subjects including financial preparation, sales, analytics, and control.
Global recognition of the CMA certificate improves employment chances in management and finance accounting. Aspirants must pass both tests, fulfil the criteria for training and employment, and uphold moral principles to become CMAs.
CMA USA Course Fees
In the USA, CMA denotes Certified Management Accountant. The Institute of Management Accountants (IMA) gives the CMA certification to professionals working in the finance industry. Enrolling in the US CMA course can benefit in many ways.
The CMA certification is granted and managed by the Institute of Management Accountants (IMA), which means they have membership, exam entry, and exam attendance fees. We'll look at the CMA USA course fees part-wise in this section.
The US CMA course fees are as follows:
| Ways to Certification | Student | Academic | Professional |
| IMA Membership (per annum) | ＄49 | ＄160 | ＄295 |
| CMA Exam Entrance fee | ＄225 | ＄225 | ＄300 |
| CMA Exam fee (per part/ total) | ＄370 | ＄370 | ＄495 |
Points of Distinctions between CMA India and CMA US
Apart from the difference between CMA Course fees and US CMA Course fees, these are some of the major points of distinction.
- Content of Exam: Topics including financial strategy, assessment, administration, and decision-making are covered in the CMA US test. However, subjects like cost accounting, financial leadership, and tactical leadership are included in the CMA India test. Furthermore, the CMA India test is separated into three levels, whereas the CMA US exam is a single-stage exam with two portions.Â
- Eligibility: The prerequisites for taking the CMA US and CMA India tests are the same: passing Class / Grade XII is required to apply for the CMA US test. Regarding CMA India, passing Grade XII is adequate for trying the CMA foundation. Those who wish to test CMA Intermediate straight without completing the foundation path must be graduates.
- Level of Difficulty: The CMA India test is tougher than the CMA US exam. The worldwide pass percentage for the CMA US examination is about 50%, but the success rate for the CMA India examination is between 16 and 20%.
- Recognition: Although both certificates are accepted around the world, CMA US remains more well-known in the US and Europe, whilst CMA India is especially well-known in the regions of Asia, the Middle East, and India.
Conclusion
With their unique benefits, the CMA US and CMA India certificates provide significant accounting and finance qualifications. CMA US has worldwide standing, making it appropriate for those with global professional objectives, whereas CMA India is primarily specific to the region. Both credentials boost one's career standing, increase one's chances of landing a position, and provide one with important financial strategy and analytical abilities.
Enrol today in Imarticus’ CMA Certified Management Accountant online course to launch a career in accounting and financing.
Frequently Asked Questions
Is it necessary to have a commerce degree to pursue CMA?
To be admitted to the CMA Foundation Course, a candidate must pass the Class X test from any accredited board. Therefore, upon completing the Class X test, a student may register temporarily for the Foundation Course. They may also sit in the Foundation Examination following their appearance in the higher secondary (10+2) test (in any discipline, including commerce).
How many times a year is the CMA examination conducted?
Exams for the CMA programme are only offered online twice annually, in December and June, for all levels.
When is the last date to register for the CMA course?
Applications are accepted at any point in the year from students who wish to join a CMA programme (Foundation, Intermediate, or Final). However, for the June term assessment, pupils must apply by January 31 of that year, while for the December term assessment, they must register by July 31 of the same year.
What are the necessary documents required for CMA registration at the foundation level?
These are the documents required to register for CMA at the foundation level:
- Signature
- Recent passport-size photographs
- Class XII admit card/ mark sheet
- Proof of Identity
- Class X mark sheet
- Age proof
