Training During the CMA Course
by Swati, on 30 Apr, 2019 5:25:36 PM
We’ve made quite a few posts on how to register for your Foundation, Intermediate and Final courses at ICMAI which included steps for registration, syllabus, examination, admission procedure among many other things. We can now move on to the next and extremely important aspect of your coursework – Training. Different types of training sessions will be held throughout your Intermediate and Final courses. Unless eligible for exemption, all students have to undergo these mandatory training programmes. You can scroll down to see how the exemption process works for each training programme.
These training programmes take place at any of the regional councils/chapters associated and recognized by ICMAI. Before getting into them in detail, here are some instructions that you need to follow, as per the ICMAI website:
- All students must contact their respective Regional Council or Chapter for the time Schedule of the training (except in the case of Practical training in the CMA Final course).
- All students must complete the prescribed training before registering for any of the examinations – online or offline.
- A student eligible for exemption of training in Inter/Final course can apply online only.
- Foreign students or students overseas have to write to the Directorate of Studies at firstname.lastname@example.org
CMA Intermediate Course TrainingBefore you can appear for the CMA Intermediate exam, you will need to complete (or gain exemption from!) the following training:
- CMA Intermediate Training in Computers in detail
- English Communication and Soft Skills Training
The flowchart below shows you when you're supposed to complete these training programmes:
Computer Training for CMA Intermediate
This is a 100-hour training programme. It’s an important prerequisite to be eligible to appear for the CMA Intermediate exam as it helps in understanding some essential application software required in the Management Accounting field.
The syllabus covers the following topics:
- Computer Fundamentals (2 hours)
- Operating System (2 hours)
- MS Word (6 hours)
- MS Excel (20 hours)
- MS PowerPoint (8 hours)
- MS Access (8 hours)
- Accounting Package: Tally ERP (30 hours)
- Web Technology (4 hours)
- e-Filing (14 hours)
- XBRL Taxonomy (6 hours)
You can find detailed information about the CMA Intermediate Computer Training Syllabus here.
Now, depending on your previous experience, you can get exempted from Computer Training.
You are eligible if:
- You have passed your Bachelor of Engineering; Pursuing Engineering Course (having completed 2nd year/ Semester IV or equivalent); or Post-Graduation in Computer Science or Computer Application, MBA (Systems) or PGDCA, MCA from Indian Institute of Management or a recognized University or an Institute recognized by All India Council for Technical Education or Department of Information Technology [formerly Department of Electronics (DOE)], Government of India, ‘A’ level Certificate Course of National Institute of Electronics and Information Technology (formerly DOEACC) (OR)
- You are CAT qualified from ICMAI (OR)
- You are a member of Chartered Institute of Management Accountants (CIMA) or Association of Chartered Certified Accountants (ACCA) (OR)
- You are a student or member of Institute of Company Secretaries of India (ICSI) and student/member of the Institute of Cost Accountants of India (ICMAI) registered with ICSI prior to 8th September, 2014, provided you produce evidence of completion of Computer Training from ICSI.
You can claim your exemption by:
- Applying online (at least 60 days prior to the start of the exam) on the ICMAI website through online student facility under ‘Value Added Services’.
- Post this, if your eligibility for exemption is accepted, you will be issued an exemption letter along with a refund
Communication and Soft Skills Training at ICMAI or CSS
This is a programme held over 3 days and each day covers a different aspect of communication. The breakdown of the course is:
- Day 1 – Oral Communication
- Day 2 – Written Communication and Goal Setting
- Day 3 – Time Management, Preparing for examinations, Taking part in Group Discussions, Presentation and other relevant soft skills.
If you wish to be exempt from the ICMAI Communication and Soft Skills Training, you have to have:
- A Masters Degree (in any field other than Fine Arts/Performing Arts) or in Engineering or Passed Finalists from the Institute of Company Secretaries of India/Institute of Chartered Accountants of India/Actuaries/Registered Valuers.
- Work experience of at least three years in any Government/Public/Private Sector job or in any university/ college or other academic institution recognized by AICTE/UGC.
You can claim your exemption by applying on the ICMAI website through online student facility under ‘Value Added Services’.
CMA Final Course Training
Before you can appear for the CMA Final Exam, you will need to complete (or gain exemption from!) the following training programmes:
- CMA Final IOTP Training or Industry Oriented Training Programme
- CMA Practical Training (6 months mandatory; 3 years' training)
And after clearing CMA Final, you will need to:
- Complete the remaining part (if any) of the CMA Practical Training requirement
- Complete 15 days' Modular Training
The chart below shows these requirements in the sequence in which you are expected to clear them:
CMA Final IOTP Training
The CMA Final IOTP Training stretches over a period of 7 days and covers compliance requirements and their preparations under various statutes. This covers the following topics:
- Indirect Tax
- Direct Tax
- Bookkeeping including Bank Reconciliation Statement
- Finalization of Accounts
- Cost Management
- Treasury Management and Statutory Compliance
It also provides training in soft skills such as:
- Business Etiquette
- Career Planning
- Interview Skills
- Presentation Skills
- Group Presentations
This training is compulsory for all students and you cannot gain any exemption from it!
Practical Training for CMA
This goes on for a period of 3 years and at least 6 months must be completed prior to appearing for the CMA Final exam. You are applicable for the training if you have registered for the CMA Intermediate course after 1/1/2008. You must get your training documents in by 30th November if you’re applying for the December term and by 31st May if you’re applying for the June term. Students are required to undergo practical training immediately after admission into the Intermediate course or before appearing in the Final examination.
If you wish to be exempt from taking the practical training, check your eligibility. You are eligible if:
You have already worked in the following recognised organisations:
- Central, State Government, Semi-Government, Public Utilities
- Banks, Insurance, other Financial Institutions
- Public Sector Unit
- Universities, Management Institutes and any other recognized educational institute
- Co-operative societies engaged in banking and/or manufacturing
You have worked in the following recognized areas of training:
- Management Accounting
- Cost Accounting
- Financial Accounting
- Financial Management
- Regulatory compliances
- Direct Taxation
- Indirect taxation
- Corporate Laws, Industrial Laws, Commercial Laws
- Systems Analysis, Information Technology (including ERP system)
- Project Management
- Banking Operation
- Insurance Valuation
- Financial Services
- Teaching in Finance, Accounts, Costing, Taxation and Management
- Management Consultancy Services
- Engineering Services involved in production of power or any manufacturing activities, Project Planning & Management, Quality Assessment, and Supply Chain Management
- Any other areas approved by the Council
You can claim your exemption by submitting the Online Form T-3 to the Directorate of Training and Placement of the Institute along with Rs 2000 to be paid online via Debit or Credit Card.
Note: Students whose exemptions are accepted on or before 31st May will be eligible to appear for the June examination and for those on or before 30th November will be eligible to appear for the December Exam.
These are the training required to be taken during the CMA course, in a nutshell. There are many other things to take into account when it comes to exemption from the practical training.
We will discuss these in detail in our future blogs. Stay tuned to the LearnCab blog section for more information.
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Until next time!