CMA Final
CMA Final
The CMA Final is the last obstacle a student must overcome in order to see the wonderful results of his diligence and hard work. In the vast and varied field of accounting, a student would be regarded as a rising master after passing the CMA Final.
It is important to note that all students who register for the CMA Intermediate programme are required to complete a three-year articleship, or practical training. During this time, students must gain at least six months of hands-on experience in a practical setting before they are allowed to take the CMA Final exams.
The Institute of Cost Management Accountants of India administers these CMA exams, which are divided into two categories. that is, Group 3 and Group 4 and the subjects in each of these two groups are as follows –
Paper 13 – Corporate Laws & Compliance
Paper 14 – Strategic Financial Management
Paper 15 – Strategic Cost Management – Decision Making
Paper 16 – Direct Tax Laws and International Taxation
Paper 17 -Corporate Financial Reporting
Paper 18 – Indirect Tax Laws & Practice
Paper 19 – Cost & Management Audit
Paper 20 – Strategic Performance Management and Business Valuation
It’s not easy to pass the aforementioned difficult papers; in order to succeed on the tests, a student must prioritise his CMA study above all else. A student must work extremely hard to succeed in the CMA Foundation, Intermediate, and Professional Exams even though there is no set amount of attempts allowed.
In the CMA Final’s theoretical subjects, students should aim to grasp every nuanced concept and learn its practical application. But, in the exam’s mentally taxing numerical subjects, like accounting, mathematics, and costing, students should strive to gain a thorough understanding of all the formulas and methods. Finally, students must be able to clearly and concisely explain all of their answers in a three-hour exam that is exhausting and confusing.
A student must pay a registration fee of Rs. 17,000 all at once in order to pursue his CMA Final studies. After that, there is an examination fee of Rs. 1,400 if the student wants to appear in one of the two groups in a single sitting, or Rs. 2,800 if the student wants to appear in both CMA Final groups in a single sitting.
Additionally, the passing requirements are the same as for CMA Foundation and CMA Intermediate: a minimum of 40% in each topic individually and a 50% overall aggregate.
However, a candidate will only be referred to as a qualified CMA after completing his three years of practical training and passing all 20 CMA exams. Only then can a student like this bear the honourable title of a professional, which he will have earned for himself through much blood and sweat, hard work, dedication, and perseverance—these qualities are essential for a CMA Final student to experience excellence.