Management Accounting Certification In India

One of the most popular courses in the world of accounting is Management Accounting Certification. After completing the course, you will be awarded the professional designation of Certified Management Accountant. Learn all you need to know about India's qualifying requirements, admissions procedure, job opportunities, and foreign certifications.

In India, the Management Accounting Certification is a professional certification that aims to improve accounting and financial management abilities. After completing the course, the Institute of Cost Accountants of India awards the Management Accounting Certification. The curriculum takes three to four years to complete. Candidates wishing to earn Management Accounting Certification in India must meet the ICAI's qualifying requirements. Each level has its own set of eligibility requirements. To learn more about the eligibility requirements, admission process, registration price, and other details, read this article.

Eligibility Criteria for Management Accounting Certification

Candidates seeking management accounting certification must meet the qualifying requirements listed below. At each level, the authorities establish qualifying requirements for Management Accounting Certification.

In India, management accounting certification is available. The Admissions Procedure

The application period for Cost Accounting Certification is open all year. The certification test for Cost Management Accounting is held twice a year. Check out the information below to learn how to apply for various levels.

Foundation Course Admissions Process

The Management Accounting Certification - Foundation Course admissions procedure is available all year. Candidates who want to take the December Term Examination must apply by July 31, 2021, and those who want to take the June Term Examination must apply by 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.

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)

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