All you need to know about CMA Foundation Course

What is CMA foundation course?

Before we understand what is CMA foundation Course we should know the history of CMA Institute. Institute was established before Independence under the Companies act 1956. After Independence Institute got its’ shape by the enactment of ICWAI Act, 1959 and then it was known as Institute of Cost and Works Accountants of India. In most of the Countries Cost Accountants are known as Cost & Management Accountant (CMA). So the institute feels the necessity of change its name from ICWAI to ICMAI. In November 2011 bill was placed into the parliament to change its name from ICWAI to ICAI and it was passed in the parliament. So the course reflect change in name also change its focus from cost and work accounting to management accounting.

The CMA course has three stages i.e.

– CMA Foundation
– CMA Intermediate
– CMA Final
The Institute have made some changes in CMA course from 2016. So lets discuss about CMA Foundation Course in detail. CMA foundation includes four papers i.e. 1.Paper 1: Fundamentals of Economics and Management 2.Paper 2: Fundamentals of Accounting 3.Paper 3: Fundamentals of Laws and Ethics 4.Paper 4: Fundamentals of Business Mathematics & Statistic With a proper knowledge of these subjects, the students can be all prepared for the course In this article we will discuss about eligibility, Important dates, Registration process Etc.

CMA Foundation 2020 Course Eligibility:

Eligibility Criteria for CMA Foundation
•Candidates must have passed the Class 10th or equivalent from a recognized board or institution, or •Passed the Senior Secondary School Examination under the 10+2 scheme of a recognised Board, or institution •Passed an examination recognised by the Central Government as equivalent thereto, or •Candidate must have as passed the National Diploma in Commerce Examination held by the All India Council for Technical Education, or •Passed any State Board of Technical Education under the authority of the said All India Council, or •Passed Diploma in Rural Service Examination conducted by the National Council of Rural Higher Education. •Candidate who has passed the Foundation examination conducted by the Institute of Company Secretaries of India will be exempted from Foundation Course & vice versa, or •Those applicants who have passed the Intermediate Examination (by whatever name called) conducted by the Institute of Chartered Accountants of India will be exempted from Foundation Course are also eligible for the post. Similarly, any candidate who has passed the Intermediate examination will be exempted from Common Proficiency Test (i.e. entry-level examination, by whatever name called) conducted by the Institute of Chartered Accountants of India. •Candidates who have passed the qualifying examination for direct admission to Intermediate Course are exempted from Foundation Course. •Admission to the course must be done 4 months before the commencement of the examination.

CMA Foundation Course Registration Details:

Last date of Registration for December 2020 Last date is 31st July for 2020 December CMA Foundation examination. Submit Online application form to appear in December 2020 exam. Any candidate who submits the application after the passing of the last date will not be allowed to apply for the course. Results of the December 2020 examination will be released in the month of February 2021.  Fees for Registration in CMA Foundation Course Candidates are required to pay Rs. 4000/- towards CMA foundation registration fees.  What are the Documents required for registration under CMA Foundation Course? 1. Attested copy of matriculation Certificate 2. Attested copy of 10+2 Certificate or Marksheet 3. Three Passport Size photograph  Procedure for CMA Foundation Registration Online Process: Step 1. Go to the official website mentioned in the page. Click on CMA 2020 Registration option. Step 2. You will be redirected to the page of the registration form. Fill in all the required details and click on save and continue Step 3. Upload the images as per image specifications. Click on submit. Step 4. A payment gateway will open displaying the different modes of payment. Choose any one mode and fill in all the required details. Click on Make Payment. Step 5. Take the print out of the application form for future use

Physical/ Offline Process:

Candidate who wants to apply physically to course need to visit nearest CMA chapter. Candidate needs to buy physical form for admission in CMA Foundation course. All students shall submit their postal application form, duly filled in together with relevant documents and remittance to their respective regional councils/ chapters only.