The full form of CMA is Cost Management Accounting .it is also a very professional designation within the field of finance as much as charted accountants.
CA (Chartered Accountant) is tougher than the course in Cost Accountancy.CMA is organized by ICWA (Institute of Cost and Work Accountants of India) now known as ICAI (Institute of Cost Accountants of India.
Four regional offices are at Kolkata, Mumbai, Chennai and New Delhi . There are about 85,000 members(CMAs) all in India .
To become a CA, a person must have qualified 10+2 in commerce, Bachelor in commerce (B.com), Master in Commerce (M.com), Ph.D. (Commerce), and should clear the national level exam of cost accountancy.
The Full Form Of CMA is : Cost Management Accountant
Some responsibilities of CMA are as follows:
Costs of manufacturing or providing a scrutinizing associated company expenses service, analyzing profitability, and preparing the company budget.
To effectively achieve financial objectives Cost Accountants are required to work closely with management. A cost accountant recognized as accountant u/s 288 shall be able to do audit or certification under several provisions in the Income Tax Act.
Salary of a CMA(Cost Accountant) may:
- Beginners: 30k to 50k
- Experience (1-2 years):50k to 70k
- Experience (2-5 years): 70k to 1 lakh
- Experience (5 and above years): 1 lakh to 3 lakh
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