CMA Foundation is the first stage of the CMA program that candidates need to clear to get to the next stage. The exam is conducted by The Institute of Cost Management Accountants of India. Here’s a detailed guide on the CMA Foundation course:
1. CMA Foundation Syllabus
The CMA Foundation course consists of 4 subjects, namely:
Paper 1: Fundamentals of Business Laws and Business Communication (FBLC)
Paper 2: Fundamentals of Financial and Cost Accounting (FFCA)
Paper 3: Fundamentals of Business Mathematics and Statistics (FBMS)
Paper 4: Fundamentals of Business Economics and Management (FBEM)
2. CMA Foundation Eligibility
Candidates who have passed the class 12th exam can register themselves for the CMA Foundation exam. The candidates must be citizens of India only. Candidates from other nationalities are not eligible.
3. CMA Foundation Admission Process
To get into the CMA Foundation, candidates are required to follow certain steps.
Here’s a breakdown of the process facilitating candidates’ participation in the CMA Foundation examination:
- Commencing right after the successful completion of the 10th grade or an equivalent qualification, individuals can initiate their foundation course.
- Another entry point is available for candidates who choose to start their journey following the completion of the 12th-grade board exams.
- The initial step involves candidates enrolling in the program, necessitating the submission of essential documents.
- Among the required documents are the class 10th certificate, photographs, class 12th certificate, and other pertinent credentials.
By following these outlined steps, candidates can effectively position themselves to undertake the challenges of the CMA Foundation examination.
4. CMA Foundation Exam Pattern
The CMA Foundation exam is conducted twice a year, in the months of July and December. The examination is conducted in an offline OMR mode from the centre. The exam consists of 4 papers, each carrying 100 marks.
Paper 1 and Paper 2 -2hrs
Paper 3 and Paper 4 -2hrs
5. CMA Foundation Fees
The registration fee for the CMA Foundation is INR 6000.
6. CMA Foundation Study Material
The Institute of Cost Management Accountants of India provides study material for the CMA Foundation course. The study material is available in both online and offline modes.
CMA Foundation Additional points to remember:
Here are some additional important points to keep in mind while applying for the CMA Foundation Examination:
- The application process for the Foundation Examination requires online submission of forms, and the fees are accepted through online modes, including the Pay Fee Module of IDBI Bank. However, candidates from overseas must apply offline and send a Demand Draft along with the application form.
- To apply online, candidates can log in to the website www.icmai.in and use the payment gateway for transactions via Credit/Debit card or Net banking. Alternatively, the requisite fee can be paid through the pay-fee module of IDBI Bank.
- The deadline for submitting Examination Application Forms is April 16, 2024. There will be no extensions beyond this date for the June 2024 examination.
- The Foundation Examination will be conducted in Multiple Choice Question (MCQ) mode through an offline OMR-based system. Each paper will be worth 100 marks, consisting of 50 Multiple Choice Questions, with each question carrying 2 marks. Candidates are required to appear at designated offline OMR-based centers.
- Only candidates who fulfill all the conditions for examination eligibility as per the regulations will be allowed to participate.
- There is no scope for negative marking in the exam.
- The results of the Foundation examination are expected to be published no later than July 11, 2024.
Final thoughts
The CMA Foundation course is an excellent opportunity for students who want to pursue a career in cost management accounting. The CMA Foundation Eligibility is designed to provide students with a strong foundation in the field of accounting and finance. If you’re interested in pursuing this course, make sure to check the eligibility criteria and admission process before applying.
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