Cost And Management Accountancy (CMA)

With multi-product manufacturing and distribution ventures being the order of the day, it has become very important to understand the exact cost of creating and distributing every product and service at different stages so as to minimize expenditure and ensure optimum utilization of resources.

Costing is crucial to determine the pricing of products and services in every organization, which is accountable to its stakeholders. This is where the role of a Cost and Management Accountant (CMA) is critical, as this work cannot be done by just an ordinary accountant.

A CMA is a person who performs services like costing; pricing of goods or services; prepares, verifies or certifies cost accounting; and prepares related statements.

A CMA’s job essentially involves an analysis of costs and to devise ways to reduce it. Apart from this, the CMA is also expected to evaluate operating efficiency and effectiveness of production and service management in different departments of an organization.

This analysis helps in comparing financial performances, making assessments and projections, providing figures for future costing and pricing policies and other related managerial decisions. He is the first whistleblower who tells the Management on issues of the purchase price, inventory, human costs and related issues. He is also an efficiency auditor so that the company saves money and time in manufacturing and distribution operations.

Eligibility for Admission:

• A candidate should have passed Class 10 or equivalent from a recognized Board or Institution.
• Passed Senior Secondary Examination under 10+2 scheme of a recognized Board or an Examination recognized by the Central Government as equivalent thereto or has passed National Diploma in Commerce Examination held by the All India Council for Technical Education or any State Board of Technical Education under the authority of the said All India Council, or the Diploma in Rural Service Examination conducted by the National Council of Higher Education. Incumbents waiting for the result can apply for provisional admission

Documents to be enclosed with application form:

• Attested Copy of Matriculation Certificate
• Attested copy of 10+2 Certificate or Marks Statement
• 3(Three) Passport size photographs – (One pasted on application form, one pasted on identity card and one to be attached with application)

(Attestation should be by any member of The Institute of Cost Accountants of India /The Institute of Chartered Accountants of India/ The Institute of Company Secretaries of India/Parliament/State Legislative Assembly or a Gazetted Officer or a Principal of a college)

Intermediate Course:

Eligibility for Admission:

• Passed Senior Secondary School Examination (10+2)and Foundation Course of the Institute of Cost Accountants of India/ Graduation in any discipline other than Fine Arts/ Foundation (Entry Level) Part I Examination of CAT of the Institute/ Foundation (Entry Level) Part I Examination and Competency Level Part II Examination of CAT of the Institute
• Passed Foundation of ICSI/Intermediate of ICAI by whatever name called along with 10+2.
• List of other qualifying examination is given vides Annexure VI of the prospectus. Incumbents waiting for the result can apply for provisional admission