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ICMAI/ ICWAI CMA Exam 2020: Foundation, Intermediate, and Final Exams in December

CMA Exam

Want to get hired by big organizations like Public Sector Undertakings, Insurance, Electricity, Banking Companies, Public/Private Limited Companies, Infrastructure Companies and Manufacturing and Service Industries as a Cost and Management Accountant? If yes, you must clear the ICMAI CMA exam. The national level exam is conducted by the Institute of Cost Accountants of India (ICAI), previously known as the Institute of Cost & Works Accountants of India (ICWAI). The exam is generally conducted twice a year in June and December.

However, for the year 2020, both the sessions for the Intermediate and Final examinations have been merged due to the prevailing COVID-19 situation. Interested candidates can apply for the Foundation, Intermediate, and Final courses before 10th October 2020. The CMA Foundation exam will be held on 5th December 2020. For more details about the eligibility, pattern, syllabus, important dates, etc. for the ICAI CMA exam 2020, check out the complete article.

  • Academia-as Faculties
  • Auditing, Internal Control
  • Financial/Business Analyst, Systems Analysis & System Management
  • Cost Accounting, Financial Management
  • Implementing Business Intelligence Systems
  • Process Analysis in BPO Houses
  • ERP Implementation

Three Stages of Cost and Management Accountant –

To become a CMA, candidates must appear in all the three stages of Cost and Management Accountant by the Institute of Cost Accountants of India.

  • CMA Foundation Examination
  • CMA Intermediate Examination
  • CMA Final Examination

ICAI invites applications for the Foundation and Intermediate examinations throughout the year. As mentioned above, for the year 2020, candidates can submit their applications before 10th October 2020.

ICWAI CMA 2020 Latest Updates – The Institute of Cost Accountants of India has merged the June and December 2020 session exams for Intermediate and Final courses. Examinations for the Intermediate and Final exams will be held between 10th and 17th December 2020. The CMA foundation exam is scheduled to be held on 5th December 2020. The foundation exam will be held as a home-based online exam.

For the Intermediate and Final exam, candidates will be given two options for the examination - Centre based online examination and Home based online examination.

ICWAI/ ICMAI CMA Overview

Name of Exam

ICWAI/ ICMAI CMA

Exam Conducting Authority

Institute of Cost Accountants of India

Year

2020

Purpose

To pursue CMA courses –

Foundation, Inter and Final

Mode of Exam

Offline

Application Mode

Online

Eligibility

10+2 pass

Official Website

http://icmai.in/

 Exam Date

December 2020

CMA Exam 2020 Important Dates

As the intermediate and final exam for June and December sessions have been merged for the year 2020, the important dates related to the exam are as under. Registrations for the Foundation and intermediate courses remain open throughout the year. The last date for registration for both terms are as under:

  • Last date for Registration for June Term - 31st January 2020
  • Last date for Registration for December Term - 31st July 2020

These are general dates for registration. However, for the year 2020, the schedule has been chaaged due to the Coronavirus situation. The important dates for different examinations are:

CMA Foundation Course

Exam Events

Important Dates

Last date for submitting applications

20th October 2020

Exam Date

5th December 2020

Paper-1 and 2 (10:00 AM to 12:00 Noon)

Paper-3 and 4 (2:00 PM to 4:00 PM)

Intermedite and Final Course

Exam Events

Important Dates

Last date for submitting applications

10th October 2020

Exam date

10th to 17th December 2020

Exam Schedule

Exam Dates

Paper

10th December 2020

Financial Accounting (Group 1) and Corporate Laws & Compliance (Group 3)

11th December 2020

Operations Management & Strategic Management (Group 2) and Corporate Financial Reporting (Group 4)

12th December 2020

Laws & Ethics (Group 1) and Strategic Financial Management (Group 3)

13th Deember 2020

Cost & Management Accounting and Financial Management (Group 2) and Indirect Tax Laws & Practice (Group 4)

14th December 2020

Direct Taxation (Group 1) and Strategic Cost Management – Decision Making (Group 3)

15th December 2020

Indirect Taxation (Group 2) and Cost & Management Audit (Group 4)

16th December 2020

Cost Accounting (Group 1) and Direct Tax Laws and International Taxation (Group 3)

17th December 2020

Company Accounts & Audit (Group 2) and Strategic Performance Management and Business Valuation (Group 4)

CMA Exam 2020 Pattern & Syllabus

ICMAI Foundation Course –

Section-wise marks distribution for each paper is as under:

Foundation Course - Paper-1 (Fundamentals of Economics & Management)

Sections

Topics

Weightage

Section A - Fundamentals of Economics

Basic concepts of Economics

20 marks

Forms of Market

20 marks

Money and Banking

10 marks

Section B - Fundamentals of Management

Management Process

50 marks

TOTAL

 

100 marks

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Foundation Course - Paper-2 (Fundamentals of Accounting)

Sections

Topics

Weightage

Section A: Fundamentals of Financial Accounting

Accounting Fundamentals

35 marks

Accounting for Special Transations

20 marks

Preparation of Final Accounts

25 marks

Section B: Fundamentals of Cost Accounting

Fundamentals of Cost Accounting

20 marks

TOTAL

 

100 marks

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Foundation Course - Paper-3 (Fundamentals of Laws & Ethics)

Sections

Topics

Weightage

Section A: Fundamentals of Commerical Laws

Indian Contracts Acts, 1872

40 marks

Sales of Goods Act, 1930

20 marks

Negotiable Instruments Act, 1881

10 marks

Section B: Fundamentals of Ethics

Ethics and Business

30 marks

TOTAL

 

100 marks

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Foundation Course - Paper-4 (Fundamentals of Business Mathematics and Statistics)

Sections

Topics

Weightage

Section A: Fundamentals of Business Mathematics

Arithmetic

20 marks

Algebra

20 marks

 

Statistical Representation of Data

10 marks

Section B: Fundamentals of Business Statistics

Measures of Central Tendency and Dispersion

30 marks

Correlation and Regression

10 marks

Probability

10 marks

TOTAL

 

100 marks

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ICMAI Intermediate Course –

ICWAI Intermediate Course comprises two groups (Group I and group II), covering 4 papers. Group-I comprises Financial Accounting (Paper V), Laws & Ethics (Paper VI), Direct Taxation (Paper VII) and Cost Accounting (Paper VIII). Group-II covers Operations Management & Strategic Management (Paper IX), Cost & Management, Accounting and Financial Management (Paper X), Indirect Taxation (Paper XI) and Company Accounts & Audit (Paper XII).

ICMAI Final Course –

The Final Course too has two groups (Group III and Group IV). Each group has 4 papers.

Group III: Corporate Laws & Compliance (Paper XIII), Strategic Financial Management (Paper XIV), Strategic Cost Management – Decision Making (Paper XV) and Direct Tax Laws and International Taxation (Paper XVI)

Group IV: Corporate Financial Reporting (Paper XVII), Indirect Tax Laws & Practice (Paper XVIII), Cost & Management Audit (Paper XIX) and Strategic Performance Management and Business (Paper XX)

CMA Exam 2020 Eligibility

Eligibility for ICWAI CMA Foundation –

  • Must have completed 10th or equivalent from a recognised institute or Board
  • Or, should have done 10+2 or equivalent from a recognised Board
  • Or, must have held a certificate in National Diploma in Commerce by All India Council for Technical Education
  • Or, must have passed Diploma in Rural Service Examination by the National Council of Higher Education

Eligibility for ICWAI CMA Intermediate (Inter) –

  • 10+2 (Senior Secondary School Examination) and must have completed Foundation Course from ICMAI (the Institute of Cost Accountants of India)/ a bachelor’s degree in any discipline (other than Fine Arts) from recognised University/ should have done Foundation (Entry Level) Part I examination of CAT of the Institute/ Foundation (Entry Level) Part I exam and Competency Level Part II exam of CAT of the Institute
  • The candidates should have cleared Foundation of ICSI/ Intermediate of ICMAI with 10+2

Eligibility for ICWAI CMA Final –

  • Senior Secondary School Examination (10+2) and Foundation Course of ICWAI/ Foundation (Entry Level) Part I examination of CAT of the Institute/ Foundation (Entry Level) Part I exam and Competency Level Part II exam of CAT of the Institute/ Graduation in any discipline other than Fine Arts
  • Must have passed Foundation of ICSI/ Intermediate of ICWAI with 10+2

CMA Exam 2020 Application Process

The Institute of Cost Accountants of India invites applications from the eligible and interested candidates online. Students must complete the application form submission process for Foundation course till 20th October 2020 and for the Intermediate courses before 10th October 2020. The form needs to be filled in online and the application fees must be remitted through online mode. Candidates opting for foreign centres must complete the process offline.

Step-by-Step to Complete CMA Foundation Registration –

  • Visit the authorised website (www.icmai.in)
  • Select the link ‘Students Portal’
  • Click on the ‘Online Examination Form’
  • Look for the icon ‘Students’
  • Click on the icon and get directed to another page. Here, under the section ‘Activities’ candidates are required to select ‘Online Application Form’
  • From the drop-down menu, select ‘Foundation’ course
  • Now, apply online, provide all important details after reading the instructions, upload documents, remit the application fee and submit the form

Note: Keep all the log-in credentials for future reference. They are application number, email ID, registration number, mobile number and DOB. Documents to be enclosed with application form are attested copy of 10th certificate, 10+2 certificate and 3 passport-size photos.

CMA Intermediate Registration –

  • Get application form for the Foundation Course and apply for registration
  • Submit the application form along with the attested copy of the 10th certificate, 12th certificate and marksheet or attested copy of Graduation
  • Attach recent photograph along with the application form

CMA Final Registration –

  • Candidates after completing ICMAI CMA 2020 Intermediate course become eligible for Final Course registration
  • Documents required to be submitted - Class 10th and 12th marksheet and certificate, photograph, age proof, signature specimen and ICAI or CMA Intermediate Pass certificate
  • The duly filled in application form should be sent at the Postal address of the Regional Centres of ICAI

Things Required during Registration -

Candidates need to keep the following details beforehand while completing the registration process.

  • Address, email ID and mobile number
  • Attachment documents:
  1. Scanned image of passport size photo in JPEG/ JPG format
  2. Signature in JPEG/ JPG format
  3. Age proof in PDF format (600 kb)
  4. Academic qualification certificates in PDF format (600 kb)

Application Fee –

Courses

Fees Amount

Foundation Course

₹ 1200/-

Intermediate Course (1st Group)

₹ 1200/-

Intermediate Course (2nd Group)

₹ 2400/-

Final Course (1st Group)

₹ 1400/-

Final Course (2nd Group)

₹ 2800/-

Application Fee for Foreign Students –

Particulars

Foundation

Intermediate

Final

Admission/ Registration/ Enrolment

$250

$1100

$800

Qualification based subject Exemption (For Engineers and graduating Engineers, CS and LLBs)

Not applicable

$100 per subject

$ per subject

Computer Training Exemption Fee

Not Applicable

$600

Not Applicable

Additional 50 hours computer training exemption fee

Not Applicable

Not Applicable

$340

Communication and Soft Skill Training Exemption Fee

Not Applicable

$100

Not Applicable

IOTP Exemption Fee

Not Applicable

Not Applicable

$130

Registration Denovo

Not Applicable

$40

$40

Coaching Revalidation Single group Both groups

Not Applicable

$40

$80

$50

$100

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As per the fee structure section of ICMAI Information Bulletin, “Students registered in India under  any Regional Council/ Chapter/ Recognized Oral Coaching Centres, but now residing outside India for the purpose of employment or otherwise, shall also be eligible to claim exemption from CSS and/or Computer Training (for Intermediate), IOTP (for Final), provided they apply to the  Directorate  of  Studies, along with the prescribed fees, as applicable to a Foreign Student, within the prescribed time limit.”

Other Details

ICWAI CMA Course Subjects –

ICMAI CMA has 20 subjects in all three stages. They are –

ICMAI CMA Foundation –

  • Paper I: Fundamentals of Economics and Management
  • Paper II: Fundamentals of Accounting
  • Paper III: Fundamentals of Laws and Ethics
  • Paper IV: Fundamentals of Business Mathematics & Statistic

ICMAI CMA Intermediate –

  • Paper V: Financial Accounting
  • Paper VI:  Laws, Ethics and Governance
  • Paper VII: Direct Taxation
  • Paper VIII: Cost accounting and financial management
  • Paper IX: Operation Management Information System
  • Paper X: Cost and Management Accounting
  • Paper XI: Indirect Taxation
  • Paper XII: Company Accounts & Audit

ICMAI CMA Final –

  • Paper XIII: Corporate Laws and Compliance
  • Paper XIV: Advanced Financial Management
  • Paper XV: Business Strategy & Strategic Cost Management
  • Paper XVI: Tax Management and Practice
  • Paper XVII: Strategic Performance Management
  • Paper XVIII: Corporate Financial Reporting
  • Paper XIX: Cost and Management Audit
  • Paper XX: Financial Analysis & Business Valuation

ICMAI CMA 2020 Exam Centres –

The Institute of Cost of Accountants of India will organise the Foundation, Inter and Final examinations in the following cities.

A: Agra, Adipur-Kachchh (Gujarat), Agartala, Akurdi, Asansol, Ahmedabad, Allahabad, Aurangabad

B: Baroda, Bangalore, Berhampur (Ganjam), Bhilwara, Bhilai, Bhopal, Bhubaneswar, Bewar City (Rajasthan), Bilaspur, Bokaro

C: Calicut, Chandigarh, Coimbatore, Chennai, Cuttack

D: Delhi, Dhanbad, Duliajan (Assam), Dehradun, Durgapur

E: Erode, Ernakulam

F: Faridabad

G: Ghaziabad, Guwahati, Guntur

H: Hazaribagh,  Haridwar, Howrah, Hyderabad

I: Indore

J: Jabalpur, Jaipur, Jamshedpur, Jalandhar, Jammu, Jodhpur

K: Kannur, Kalyan, Kanpur, Kolkata, Kolhapur, Kottakkal (Malappuram), Kota, Kottayam

L: Ludhiana, Lucknow

M: Mangalore, Madurai, Mysore, Mumbai

N: Naihati, Nagpur, Neyveli, Nasik, Nellore, Noida

P: Palakkad, Patiala, Panaji (Goa), Pondicherry, Patna, Pune, Port Blair

R: Rajahmundry, Raipur, Rourkela, Ranchi

S: Salem, Shillong, Sambalpur, Solapur, Siliguri, Surat, Srinagar

T: Trivandrum, Thrissur, Tirunelveli, Tiruchirapalli

U: Udaipur

V: Vindhyanagar, Vapi, Vellore, Vashi, Vijayawada

W: Waltair

Overseas Exam Centres –

The Institute also organises the examination outside India for foreign students. The overseas centres are Bahrain, Dubai and Muscat.

ICMAI CMA 2020 Admit Card –

The ICMAI CMA admit card 2020 is a mandatory possession to appear in the examination. The hall ticket of CMA examination 2020 will not be available in offline mode. Students can get it downloaded from the official website by selecting the course and providing the registration number. The admit card will have the following details in it –

  • Candidate’s name
  • Photo and signature
  • Exam centre address and code name
  • Roll number
  • Registration number
  • Group

ICWAI Result 2020 –

The date of the ICMAI CMA result 2020 is not announced yet. The results will be declared on the authorised website of ICWAI CMA. To see the results –

  • Visit the official web portal
  • Choose the Examination tab and click on ‘Result’
  • Enter the log-in details to ‘View Result’
  • Download the result and take a printout

ICWAI CMA 2020 Frequently Asked Questions (FAQs)

Q: I’ve done 12th in 2018. Am I eligible for 2020 June Term examination to pursue the ICMAI course?

A: Yes, you are eligible to pursue the course. However, you need to clear the entrance examination. The Institute of Cost Accountants of India conducts the exam twice a year – June Term Examination and December Term Examination.

Q: What is the minimum academic condition to appear in the test?

A: 10+2 pass

Q: When will the application form be available for the June Term Examination?

A: The official announcements are yet to be made. Well, the last date to fill and submit the form would be 31st July.

Q: Will the application form be available only in online mode?

A: Yes. The mode of application is online, while the mode of exam is offline.

Q: Hello, my name is Om Prakash. I’ve cracked CA CPT. Do I need to appear in ICWAI CMA Foundation course?

A: Not needed. You can skip the Foundation Course exam.

Q: Can I be briefed about the exam pattern and syllabus?

A: Please refer to the above section.

Q: I’m residing outside India. Where can I give the test outside India? Also, I wish to know the application fee.

A: The Institute organises the examination outside India for foreign students. The overseas centres are Bahrain, Dubai and Muscat.

The application fee for Foundation course is $250, for Intermediate course is $1100 and for Final is $800. For details, read the application fee section above.

Q: When will ICMAI/ ICWAI CMA result 2020 (December term) be declared?

A: There is no update on the result announcement date yet.

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