ICWA CMA Exam 2021 Notification | CMA Syllabus, Exam Date, Admit Card, Result

ICWA CMA Exam Notification 2021: For students from the commerce background, cost management accountant is one of the top-of-the-line career choices, right up the alley with CA or CS.

Cost accountants are sought-after professionals responsible for helping businesses streamline cost expenditures by projecting the most financially feasible options based on analysis of purchases, review of goods and services, and an in-depth study of record data.

In India, the Institute of Cost Accountants of India, which was previously known as The Institute of Cost & Works Accountants of India (ICWA), is a premier body for conducting the Cost Management Accountant exams.

ICWA CMA Exam 2021 Notification

The ICWA has announced the schedule for all three levels of CMA 2021 exam. Here is everything you need to know to be applying and preparing for clearing these exams.

As mentioned before, the Institute of Cost Accountants of India is the conducting authority for the CMA exam, besides being a premier statutory body overseeing different aspects of professional accountancy in the country.

• Best Study Materials For ICWA CMA

It holds the distinction of being a leading financial institution and its seal on your CMA certification can send your career skyrocketing. 

The ICWA CMA exam is divided into three stages 

• CMA Foundation,
• CMA Intermediate,
• CMA Final.

For each of these stages, the exams are designed to assess the students’ comprehensive understanding of aspects such as financial planning, cost management, striking a balance between resources and expenditure and communication skills. The exams are held bi-annually – in the months of June and December base CMA Exam Notification. 

The Institute of Cost Accountants of India adheres to the highest standards in the conduct of these exams. The complexity and level of competition is stiff. 

Here is a quick rundown on what you can expect at different levels of the CMA exam: 

CMA 2021 Eligibility Criteria

Candidates who wish to appear in the entrance exam should be well aware of the eligibility criteria. Given below are the eligibility criteria for the entrance exam on the basis of different courses.

CMA Foundation Eligibility Criteria

Here you can check the essential eligibility criteria required for CMA Foundation Course.

• You should have passed Class 10th or its equivalent from a recognized Board or Institution.
• You should have passed Senior Secondary Examination under 10+2 scheme or an Examination recognized by the Central Government as equivalent
• You must be passed the National Diploma in Commerce Examination held by the AICTE or any State Board of Technical Education under the authority of the said All India Council.
• You should have a diploma degree in Rural Service Examination conducted by the National Council of Higher Education.

CMA Intermediate Eligibility Criteria

Here you can check the essential eligibility criteria required for CMA Intermediate Course.

• You should have passed 10+2 examination 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.
• You should have passed Foundation of ICSI/Intermediate of ICAI by whatever name called along with 10+2.

The candidates whose result is awaited can apply for Provisional Admission in the Foundation and Intermediate courses.

CMA Final Eligibility Criteria

Here you can check the essential eligibility criteria required for CMA Final Course.

• The candidates who have cleared Intermediate Examination of the Institute of Cost Accountants of India are eligible to apply for the Final Course.

ICWA CMA Registration 2021 Notification

The registration for this year’s ICWA CMA courses has been open since January 1, 2021. Students desirous of applying for Foundation/Intermediate/Final levels can register on the official website and download the ICWA CMA application form 2021.

These forms, duly filled in and with all the necessary supporting documents and fee, must then be submitted to the respective regional chapters or councils. Alternatively, you can also complete the application process online.

CMA candidates who intend to take their chosen exam in June must complete this process by January 31, 2021. Similarly, those who want to appear for the December examination must submit their applications by July 31, 2021. 

How to register for CMA 2021?

You can register themselves for the foundation, intermediate and final course through online mode. Candidates are advised to follow the procedure mentioned below to successfully register themselves for the exam.

• Step 1: Go to the  official website mentioned on the page. 

• Step 2: Click on the CMA 2021 Registration option.

• Step 3: You will be redirected to the page of the registration form. Fill in all the required details and click on save and continue

• Step 4: Upload the images as per image specifications. Click on submit.
• Step 5: A payment gateway will open displaying the different modes of payment. Choose any one mode and fill in all the required details. Click on Make Payment.
• Step 6: Take the print out of the application form for future use.

Documents Required for CMA 2021 Registration

Candidates are required to keep the following documents ready at the time of registration. Given below is a list of the documents which are required at the time of registration

Documents needed while registering for CMA are as follows:

• Passport photo
• Specimen signature
• Age proof
• 10th pass marksheet
• 12th appeared admit card
• Graduate degree and certificates (if applicable)
• CMA Intermediate Pass (both Group-I & Group-II) Marksheet/Certificate (Only for those applying for CMA final course)

ICMAI CMA Registration Fee

You should note that no late fee will be charged. The program-wise fees of the exam forms are mentioned below.

How to check ICMAI CMA 2021 Registration status?

You can check the registration status of ICMAI CMA by following the procedure mentioned below.

• Click on the link which is given on this page.
• Click on Online Admission status under the Admission tab .
• You will be redirected to the page of the registration status.

ICWA CMA Exam Date 2021 Notification

Knowing the exam dates and schedules is important for working out a study plan for your CMA exam prep. The exact date sheet for the exams will be released by the conducting body subsequently.

For now, you have a general timeline to work with – if you intend to appear for the June examination, you have about five months to ramp up your preparation whereas those eyeing the December edit have almost a year to realise their dream of passing the CMA exam.

Events	Dates
Last date to apply for ICMAI June exams	April 20, 2021
CMA Foundation exam dates	June 11 to 14, 2021
CMA Intermediate & CMA Final exam dates	June 11 to 18, 2021

ICWA CMA Syllabus 2021

Another key element to prepare for the CMA exam with success is a thorough understanding of the syllabus. Here is a detailed rundown on the syllabus for all three levels of the CMA exam to help you get familiarised with what’s in store for you during your CMA exam prep:

CMA Foundation Syllabus

The entry-level course has four papers, which are in turn divided into parts: 

• Paper 1: Fundamentals of Economics and Management 
  • Section A: Fundamentals of Economics 
  • Section B: Fundamentals of Management 
• Paper 2: Fundamentals of Accounting 
  • Section A: Fundamentals of Financial Accounting 
  • Section B: Fundamentals of Cost Accounting 
• Paper 3: Fundamentals of Laws and Ethics 
  • Section A: Fundamentals of Commercial Laws 
  • Section B: Fundamentals of Ethics 
• Paper 4: Fundamentals of Business Mathematics and Statistics 
  • Section A: Fundamentals of Business Mathematics 
  • Section B: Fundamentals of Business Statistics 

CMA Intermediate Syllabus 

This level has a total of 8 papers divided into two groups. Each paper has its own sub-sections: 

• Group – 1
  • Paper 1: Financial Accounting 
    • Section A: Accounting
    • Section B: Preparation of Financial Statements
    • Section C: Self Balancing Ledgers, Royalties, Hire Purchase & Installment System, Branch &
    • Departmental Accounts
    • Section D: Accounting in Computerised Environment and Accounting Standards
  • Paper 2: Laws and Ethics 
    • Section A: Commercial Laws
    • Section B: Industrial Laws
    • Section C: Corporate Law
    • Section D: Ethics
  • Paper 3: Direct Taxation 
    • Section A: Income Tax Act Basics
    • Section B: Heads of Income and Computation of Total Income and Tax Liability
    • Section C: Tax Management, Administrative Procedures and ICDS
  • Paper 4: Cost Accounting 
    • Section A: Introduction to Cost Accounting
    • Section B: Methods of Costing
    • Section C: Cost Accounting Techniques
• Group 2
  • Paper 5: Operations Management and Strategic Management 
    • Section A: Operations Management
    • Section B: Strategic Management
  • Paper 6: Cost & Management Accounting and Financial Management 
    • Section A: Cost & Management Accounting and Financial Management
    • Section B: Financial Management
  • Paper 7: Indirect Taxation 
    • Section A: Cannons of Taxations – Indirect Tax
    • Section B: Customs Laws
  • Paper 8: Company Accounts and Audit 
    • Section A: Accounts of Joint Stock Companies
    • Section B: Auditing

CMA Final Syllabus 

The final level of the examination also has eight papers, divided into two groups and comprising different sub-sections: 

• Group 3
  • Paper 1: Corporate Laws & Compliance 
    • Section A: Companies Act 
    • Section B: Other Corporate Laws 
    • Section C: Corporate Governance 
  • Paper 2: Strategic Financial Management 
    • Section A: Investment Decisions 
    • Section B: Financial Markets and Institutions 
    • Section C: Security Analysis and Portfolio Management 
    • Section D: Financial Risk Management 
  • Paper 3: Strategic Cost Management – Decision Making 
    • Section A: Cost Management 
    • Section B: Strategic Cost Management Tools and Techniques 
    • Section C: Strategic Cost Management – Application of Statistical Techniques in Business Decisions
  • Paper 4: Direct Tax Laws and International Taxation 
    • Section A: Advanced Direct Tax Laws 
    • Section B: International Taxation 
    • Section C: Case Study Analysis 
• Group 4
  • Paper 5: Corporate Financial Reporting 
    • Section A: GAAP and Accounting Standards 
    • Section B: Accounting of Business Combinations & Restructuring 
    • Section C: Consolidated Financial Statements 
    • Section D: Developments in Financial Reporting 
    • Section E: Government Accounting in India 
  • Paper 6: Indirect Tax Laws and Practice 
    • Section A: Advanced Indirect Tax and Practice 
    • Section B: Tax Practice and Procedures 
  • Paper 7: Cost and Management Audit 
    • Section A: Cost Audit 
    • Section B: Management Audit 
    • Section C: Internal Audit, Operational Audit and other related issues 
    • Section D: Case Study on Performance Analysis 
  • Paper 8: Strategic Performance Management and Business Valuation
    • Section A: Strategic Performance Management 
    • Section B: Business Valuation

The detailed syllabus and study material for each CMA exam part component is available on the official website. The best approach is to make this syllabus and study material the cornerstone of your CMA exam prep.

To improve your chances of securing a CMA certification at the end of all that hard work, it’s also a good idea to sign up for a CMA review course.

esigned by experts from the field, these courses help you make sense of the complicated jargon, terms, concepts included in the syllabus and learn their correct application from the examination point of view. 

ICWA CMA Admit Card 2021

As with any other examination, you need to carry your admit card, along with your student I-card and one other valid identity proof, to be able to take the exam.

The conducting body releases these admit cards exclusively on its website. These are neither sent to students on email nor by post. 

To download your admit card, you need to:  

• Step 1: Log on to the official website – www.icmai.in. 
• Step 2: Click on the link for admit card provided on the home page.
• Step 3: Once you are re-directed to a new page, select your course and hit the ‘click here’ button to move forward. 
• Step 4:  You’ll once again be redirected to the page where your Admit Card will be displayed. To access, you need to enter your registration number. 
• Step 5: Once the card reflects on your screen, you can download it and print your copy by clicking on the ‘Print Admit Card’ option. 

ICWA CMA Exam Centres 2021

The ICMAI has increased its number of exam centres to 95 by adding 13 new ones to its list recently. Apart from these, it also has three overseas centres in Bahrain, Dubai and Muscat. The complete list of the exam centres is available here. 

Your centre will be assigned depending on your present location and regional circle and will reflect on your admit card. 

ICWA CMA Previous Exam Paper

Given the complex nature of these examinations and the level of competition, previous years’ papers can prove to be a treasure trove to hone your skills and abilities.

Not only do these papers offer you a testing window for your CMA exam prep but also fulfil the experience requirement for taking the exams.

By continually practising with previous years’ papers as well as other sample papers and mock tests during the course of your preparation, you improve your odds of cracking the CMA exams in the first attempt. 

ICWA CMA Exam 2021 Result Notification

The result for the June examination are typically released in August, and that of the December examination by February the following year. To qualify, a candidate must at least secure an aggregated score of 45 per cent. 

Conclusion

The ICWA CMA is the holy grail that transforms young aspirants into accountants and financial experts par excellence. It also teaches you how to leverage technology and analytics to perform your job optimally.

Once you have made it past the final level of the CMA exam, the natural progression is to sign up with the Institute of Management Accountants.

With more than 10 lakh management accountants, IMA is one of the best platforms to match your skill with the employers’ experience requirement and gain exposure to promising career opportunities.

We have covered a detailed guide on ICWA CMA Exam 2021 Notification. Feel free to ask any questions related to ICWA CMA Exam Notification in the comment section below.