The Institute of Cost Accountants of India (ICMAI), previously known as The Institute of Cost & Works Accountants of India(ICWAI), is a premier statutory professional accountancy body in India with the objects of promoting, regulating and developing the profession of Cost & Management Accountancy. It is the only licensing cum regulating body of Cost & Management Accountancy profession in India. It recommends the Cost Accounting Standards to be followed by companies in India to which statutory maintenance of cost records applicable. ICMAI is solely responsible for setting the auditing and assurance standards for statutory Cost Audit to be followed in the Audit of Cost statements in India. It also issues other technical guidelines on several aspects like Internal Audit, Management Accounting etc. to be followed by practicing Cost Accountants while discharging their services.
CMA Logo for exclusive use by Indian CMAs
This is the primary qualification of the ICMAI and following completion of up to three levels (Foundation, Intermediate and Final) examinations and three years of practical training in areas like Management Accounting, Cost Accounting, Financial Accounting, Taxation, Audits, Corporate Laws etc. enables an individual to become a Cost & Management Accountant.
A student has to pass three levels of examination and complete three years of practical training to be eligible to apply for Associate membership of the Institute.
The members of the Institute of Cost Accountants of India carry the designation ACMA (Associate Cost and Management Accountant) and FCMA (Fellow Cost and Management Accountant), as applicable based on their type of membership of the institute.
Obtaining the CMA certification will open a lot of opportunities for you in the domestic as well as the global market. It will help you to enhance your financial, accounting and management skills that will expand your career potential and which will help you to stand out from the rest. Some of the job roles that you expect after completing CMA are: