Understanding CMA as career
Ranjan K Baruah *
Whenever we talk about career in commerce then the first word comes to our mind is ‘Charted Accountant’ or shortly known as CA. Apart from CA, other courses includes Company Secretary or popularly known as CS. There are many other similar courses and one of them is known as CMA or Cost and Management Accountancy Course which is imparted and managed by The Institute of Cost Accountants of India (ICAI).
Any students after passing class X exam may take admission in the institute but to appear in the exam of foundation course students must pass Class XII. There are direct admissions for graduates except from fine arts. After foundation course aspirants reaches intermediate and course and then they have to appear in the final exam. In the process students have to complete soft skills and communication training and computer training.
Before appearing in the final and to complete the stage other training and exposure are needed which are mentioned in the course of the institute. After finishing the course aspirants enrol as member with the institute to practise the same in the country. With the increase of trade and commerce and globalisation CMA brings opportunities for students to be employed by others or become self employed with their expertise and experiences.
Maintenance of Cost Records and Cost Audit under The Companies (Cost Records and Audit) Rules, 2014 under section 148 of The Companies Act, 2013 brings opportunities for CMA.The Institute of Cost Accountants of India (ICAI) is a premier professional body of Management Accountants in the country established on 28th May, 1959 under the Cost and Works Accountants Act, 1959 enacted by the Parliament to regulate the profession of Cost and Management Accountancy in India.
Its objectives are to develop the Cost and Management Accountancy function as a powerful tool of management control in all spheres of economic activities; to promote and develop the adoption of scientific methods in Cost and Management Accountancy; to develop the professional body of members and equip them fully to discharge their functions and fulfil the objectives of the Institute in the context of providing financial leadership of enterprises globally; etc.
There are different chapters of this institute in different parts of the country. I have taken inputs from the website of ICAI while compiling this write up and interested students may visit the official website for further details.
Updates:
Volvo Group Scholarship Program for Master’s Students in Business and Economics in Sweden: The University of Gothenburg is offering a scholarship to the students to pursue a postgraduate degree program. The scholarship programme covers 100 % of the tuition fee for a two-year Master’s programme for one student. The purpose of this scholarship is to attract top quality international postgraduate students to the university and to support Sweden’s research effort.
The scholarship is awarded in the field of International Business and Trade, Accounting and Financial Management, Economics, Finance, Innovation and Industrial, Management, Knowledge-Based Entrepreneurship, Logistics and Transport Management, Marketing and Consumption and Management.
Application Deadline: February 1, 2019
Google Science Fair 2018: It is a Global Science and technology Competition inviting young innovators and researchers to present their technical projects for opportunities of winning various scholarships. The participants are required to be within the age limits of 13 to 18 and selected students would get scholarships apart from exposure visits to different places. Interested may apply and participate before 12th December.
Commonwealth Master’s Scholarships: Commonwealth Scholarship Commission, UK, invites applications from candidates looking to pursue full-time Master’s study at a UK University for the Commonwealth Master’s Scholarships 2019. The scholarships enable talented and motivated individuals to gain the knowledge and skills required for sustainable development, and are aimed at those who could not otherwise afford to study in the UK.
These scholarships are offered under themes like science and technology for development ; strengthening health systems and capacity ; promoting global prosperity; strengthening global peace, security and governance; strengthening resilience and response to crises ; access, inclusion and opportunity, etc . Aspirants may apply before 19th December.
* Ranjan K Baruah wrote this article for The Sangai Express
The writer is a career mentor, skill trainer, academic consultant and strategic planner and can be reached at bkranjan(AT)gmail(DOT)com for any career related queries
This article was posted on December 13, 2018.
* Comments posted by users in this discussion thread and other parts of this site are opinions of the individuals posting them (whose user ID is displayed alongside) and not the views of e-pao.net. We strongly recommend that users exercise responsibility, sensitivity and caution over language while writing your opinions which will be seen and read by other users. Please read a complete Guideline on using comments on this website.