Management Accounting Certification in India

Management Accounting Certification is one of the most popular courses in the field of accounting. Certified Management Accountant is a professional credential offered after completion of the course. Know the complete details about eligibility criteria, admission process, career prospects, and international certifications in India.

Management Accounting Certification in India is a professional certification designed to enhance accounting and financial management skills. The Institute of Cost Accountants of India offers the Management Accounting Certification after the completion of the course. The duration of the program is three to four years. Candidates aspiring to obtain Management Accounting Certification in India must fulfill the eligibility criteria as prescribed by ICAI. The eligibility criteria are different for each level. Read this article to know about the eligibility criteria, admission process, registration fee, etc.

Management Accounting Certification Eligibility Criteria

Candidates aspiring to obtain management accounting certification must fulfill the below-mentioned eligibility criteria. The authorities prescribe eligibility criteria for Management Accounting Certification at each level.

Cost Accounting Certification Eligibility Criteria

Levels	Course name	Eligibility criteria
1.	Foundation course	Candidate must have cleared class 10th or any other equivalent examination Or An aspirant must have completed the Senior Secondary School Examination from a recognised board or any other exam board recognised by Central Government Candidates will be exempted from the foundation course if they have cleared the Foundation Examination conducted by the Institute of Company Secretaries and vice versa Or Candidates will be exempted from the foundation course if they have cleared the intermediate examination conducted by the Institute of Chartered Accountants of India
2.	Intermediate course	Candidate must have completed Senior Secondary School Examination/Higher Secondary Examination and cleared Foundation Course or qualified the Entry Level Examination of Certificate in Accounting Technicians (CAT) Course conducted by Institute of Cost Accountants of India or Degree examination of any recognised University or Pursuing Engineering Course (having completed 2nd year/ Semester IV/ equivalent) or Qualified Engineers or equivalent in any subject (other than music, dancing, photography, painting & sculpture and so on.)
3.	Final Course	The candidate must have completed the intermediate course to become eligible for the final level

Management Accounting Certification in India Admission Process

The admission process for Cost Accounting Certification is open throughout the year. Cost Management Accounting certification exam is conducted twice a year. Check the details below to know how to apply for different levels.

Admission process- Foundation Course

The admission process for Management Accounting Certification - Foundation Course is open throughout the year. Candidates willing to appear for December Term Examination must apply before July 31, 2021, and aspirants who desired to appear for June Term Examination applied before January 31, 2021.

Admission Process- Intermediate Course

Candidates who have cleared the Foundation course will be eligible to apply for the intermediate course throughout the year. Candidates who are willing to appear for the December Term Examination must apply before July 31, 2021, and candidates applied for June Term Examination before January 31, 2021.

How to Register for Cost Management Accounting Certification in India?

Candidates can apply for Management Accounting Certification in India online. Check the steps below to apply:

Step 1: Visit the official website of The Institute of Cost Accountants of India or Click Here

Step 2: Select the level to apply for:

• Apply for Foundation Course
• Apply for Intermediate Course
• Apply for Final Course

Step 3: Screen will now display the registration form. Enter the following details:

• Have you changed your name after passing class 10^th?
• Course type
• Highest Qualification
• Registration type
• Coaching type
• State
• Region/Chapter

Step 4: Click on the tab ‘next’.

Step 5: Fill the application form by entering the following details:

• Applicant details
• Attachments
• Payment details

Step 6: Download the payment receipt for future reference.

Management Accounting Certification in India Fees

Candidates applying for the December Term examination must pay the fee for the respective level by December 31, 2021. Check the fee details for Cost Accounting Certification below:

Levels		Fees
Foundation Course		Rs. 6,000
Intermediate Course	Option 1	Rs. 23,100
	Option 2	Rs. 12,000 (1st Installment) at the time of registration Rs. 11,100 (2nd Installment) before December 31, 2021, for December Examination.
Final Course	Option 1	Rs. 25,000
	Option 2	Rs. 15,000 (1st Installment) at the time of enrolment Rs. 10,000 (2nd Installment) payable before December 31, 2021, for December Term.

Note:

1. Students cannot appear for the final examination without paying for the second installment.
2. Failure to pay the second installment before the prescribed date will lead to forfeiture of the amount paid in the first installment.
3. Students will get the study material for both groups after paying the first installment and can opt for oral or postal coaching for the final course as per the choice.
4. After paying the second installment candidate will be eligible to opt for oral/postal coaching for other groups and computer and other training as applicable.

Management Accounting Certification Career Prospects in India

• The industries recognise the potential of the Cost and Management Accounting profession both in the manufacturing and service sector. This profession supports effective resource management and making cost-effective management.
• Cost Management Accountants provides services in the following:
  • Profit planning
  • Investment planning
  • The overall managerial decision-making process
• With the specialised knowledge, professionals are given recognition for different certifications and audit works under various statutes.
• Also, as a Management Accountant, one has an important role to play in the GST era.

Management Accounting Certification Jobs Offered and Salary

Roles Offered	Description	Average Salary
Functional Consultancy in ERP implementation	Differentiates existing business processes. Also understands the requirement of customers and gives a solution to the problems.	Rs. 13 LPA
Academic Careers in College / Management Institute etc.	Deliver the lesson plan to teach aspirants. To ensure that teaching methods comply with educational standards.	Rs. 10 LPA
Financial Management	As a Financial Manager, he/she is involved in financial planning, financing and investing. The decisions of financial managers have long-term effects on business process.	Rs. 8.50 LPA
Direct & Indirect Taxation	Deals with tax authorities and keeps the business aware of the implications of taxes on various business decisions.	Rs. 6.8 LPA
Systems Analysis & Systems Management	Exports and imports files from financial databases.	Rs. 6.58 LPA
Process Analysis in BPO houses	Collecting and processing information to identify process performance areas.	Rs. 5.92 LPA
Implementing Business Intelligence Systems	Collect business data and analyses competitor data and industry trends.	Rs. 5.89 LPA
Cost Accounting	Helps to plan budget and monitor performance, and execute cost-saving opportunities	Rs. 5.75 LPA
Auditing / Internal Auditing / Special Audits such as Environment Audit, Forensic Audit, CSR Audit etc.	Reviews and verifies the financial records of the company and ensures the company complying with the tax norms.	Rs. 5.32 LPA
Accounting	Interprets financial information and summarizing business activities to make better business decisions.	Rs. 4.11 LPA

Courtesy: Payscale.com

International Accounting Certification

International accounting certification also helps one stand out in the crowd. The prestigious international accounting certifications help in enhancing reputation, job prospects and earning power. Some of the top International accounting certifications are:

1. Certified Financial Planner (CFP)
2. Certified Public Accountant (CPA)
3. Certified Management Accountant (CMA)
4. Chartered Certified Accountant (ACCA)
5. Chartered Financial Analyst (CFA)
6. Chartered Alternative Investment Analyst (CAIA)
7. Chartered Global Management Accountant (CGMA)
8. Chartered Financial Consultant (ChFC)
9. Financial Risk Manager (FRM)
10. Financial Modeling and Valuation Analyst (FMVA)

Frequently Asked Questions

Q. When will the registration commence for Management Accounting Certification?

Q. What are the documents required while registering for the foundation course?

Q. What is the last date to apply for each term?

Q. How many attempts can I give?

Q. Can I directly appear for the Intermediate course?

Q. Can I register for the Management Accounting Certification in online mode?

Q. What is the duration of the International Accounting Certification?

Q. What are the career prospects after obtaining the Cost Accounting Certification?

Q. What is the average salary offered after completing the Cost and Management Accounting course from ICAI?

Q. What are the two modes of coaching at ICAI?