CMAs: Knowledge powerhouse in the Indian economy

In today's dynamic and uncertain world of business having persistent possibility of global shocks, it has become essential to devise strategies where the business gets value for every penny spent. Here, CMAs, who are considered to be the knowledge powerhouse, step in with their skills to make it possible. The emerging complex business environment has resulted in a situation where it is expected that instead of restricting themselves to conventional accounting and auditing, the cost and management accountants contribute towards improving efficiencies, management of scarce resources, identify and evaluate business risk to the company. This has further opened up huge employment opportunities in India and abroad for for Cost and Management Accountants.

One of India's top institute to train such professionals is 'The Institute of Cost Accountants of India' (erstwhile The Institute of Cost and Works Accountants of India).

The institute, which was first established in 1944 is the 2nd largest Cost and Management Accounting body in the Globe and the largest in Asia, and has approximately 5,00,000 students and 75,000 members. Headquartered in Kolkata, the insitute has four Regional Councils in Kolkata, Delhi, Mumbai and Chennai, 99 Chapters in India and 10 Overseas Centers.

CMA course in The Institute of Cost and Works Accountants of India comprises of three stages i.e. Foundation, Intermediate and Final. A graduate is exempted from Foundation examination. The student is also required to undergo mandatory training for a period of three years to acquire real life experience in an organisation.

Students after 10+ or equivalent may be admitted for Foundation Course, for Intermediate Course they can apply after passing 12th, and a student needs to be graduated in any discipline other than Fine Arts/ CAT course of the Institute/ Foundation of ICSI/Intermediate of The Institute of Chartered Accountants of India, by whatever name called, in order to get admission in Foundation Course of the Institute.

The Institute has been organising its campus placement drives regularly for June and December batches consecutively at Mumbai, Kokata, Chennai and Delhi followed by extended campus placements at important cities like Bengaluru, Pune, Ahmedabad, Hyderabad, Bhubaneswar and Jaipur. A phenomenal response from the recruiters has been found in recent times and most of the qualified CMAs are placed through campus placement initiatives of the Institute.

Besides the excellent education which the institute delievers, it also assures the financial assistance to economically challenged – cum – meritorious students, army people and students from low strata of society. Also, it has an extension centre established at Srinagar, Kashmir.