One of the most critical determinants for students desiring to have a career in cost management accounting is the fee for the CMA course. The Certified Management Accountant (CMA) is an examination provided by the Institute of Cost Accountants of India that can be undertaken at three different levels: Foundation, Intermediate, and Final. Each has different fees for their registration, study materials, and examination, and proper planning is necessary before beginning your CMA journey.
The CMA course is essentially comparative affordability with regards to finance professional qualification, yet it does provide one of the most recognized certifications globally. This article has broken down the fee levels of the CMA course for all three levels and other associated costs with taking on the program.
CMA Course Fees: Overview
The CMA course fees cover three primary levels of the CMA qualification:
- Foundation Level
- Intermediate Level
- Final Level
Each level requires payment of registration fees, exam fees, and optional costs like study material and coaching classes. Here’s a detailed breakdown of the fees for each stage of the CMA course.
CMA Foundation Course Fees
The CMA Foundation course fees are the first step for students after completing their 10+2 or equivalent examination. The fees for this level are relatively affordable compared to the Intermediate and Final levels.
- Registration Fees: ₹6,000 (for Indian students)
- Exam Fees: ₹1,200 (per group for Indian students)
The registration fee to study at ICMAI includes all study materials, which helps to facilitate the preparation for the examinations of the students. The foundation level here covers basics in accounting, management, law, and economics; therefore, it gets the students ready for advanced study of cost management.
CMA Intermediate Course Fees
Fees for the CMA Intermediate programme are charged only after passing the foundation programme or upon attaining a graduate degree in the relevant field. Both groups can be attempted together or one group at a time. Two groups constitute the intermediate level: Group I and Group II.
- Registration Fees: ₹23,100 (for both groups, including study materials)
- Exam Fees: ₹1,200 per group (₹2,400 for both groups)
The fees for the Intermediate levels are more expensive than those for the Foundation levels. This is because the coursework is more demanding and developed; with this, the cost of reading through the study material also goes with it, in addition to the requirement of the exams.
Coaching Fee (Optional): Students may choose to enroll in coaching classes offered by ICMAI or private institutes to supplement their studies. Coaching fees vary depending on the institute, ranging from ₹15,000 to ₹25,000 per group.
CMA Final Course Fees
The CMA Final course fees are the last hurdle before obtaining the CMA certification. The Final level is also divided into two groups, and students must clear both to qualify as a Certified Management Accountant.
- Registration Fees: ₹25,000 (for both groups)
- Exam Fees: ₹1,400 per group (₹2,800 for both groups)
The registration fees for the Final level cover study materials, and like the Intermediate level, students can sit for both groups together or one at a time.
Membership Fees: After passing the Final level, candidates are required to pay membership fees to become a certified member of ICMAI. The membership fee is approximately ₹1,000 per year.
Total CMA Course Fees (All Levels)
To give you a full picture of the CMA course fees, here’s a summary of the total costs for all three levels:
1. Foundation Level: ₹7,200 (registration + exam fees)
2. Intermediate Level: ₹25,500 (registration + exam fees for both groups)
3. Final Level: ₹27,800 (registration + exam fees for both groups)
Estimated Total: The approximate total fees for completing the entire CMA course (Foundation, Intermediate, and Final) are around ₹60,500 (excluding optional coaching and membership fees).
Other Considerations
- Study Material and Coaching: Although study materials are included with the registration fees, some students may prefer to enroll in private coaching classes for better preparation. This can add to the total cost.
- Exam Reattempt Fees: If a student needs to retake an exam, they will be required to pay the exam fees again.
- Professional Development: After passing the exams, students are encouraged to attend professional development programs and workshops, which may have additional costs.
Conclusion
By comparison, other professional courses in finance and accounting, CMA course fees are relatively inexpensive, which allows it to be affordable from different financial backgrounds. Therefore, total fees stand around ₹60,500 for the CMA course-an excellent value for a highly recognized certification across the globe. However, the application fee and registration cost are charged along with study material and exam fees. But the expense of coaching or reattempts is usually extra. However, the return on investment in CMA is really wide since it opens an avenue to high and richly paying jobs in cost management, finance and accounting.
CMA Course Fees FAQs
What is the total cost of the CMA course?
The total fees for all three levels (Foundation, Intermediate, and Final) of the CMA course are approximately ₹60,500, excluding optional coaching and other miscellaneous costs.
Are study materials included in the CMA registration fees? Â
Yes, study materials are included in the registration fees for all three levels of the CMA course.
What are the exam fees for the CMA Intermediate and Final levels?
The exam fees for the Intermediate level are ₹1,200 per group, while the exam fees for the Final level are ₹1,400 per group.
Is coaching mandatory for the CMA course? Â
No, coaching is optional. Students may choose to enroll in coaching classes if they feel the need for additional support.
Are there any additional costs after completing the CMA course? Â
Yes, after passing the Final level, students need to pay membership fees (approximately ₹1,000 per year) to maintain their certification with ICMAI.
