Cma

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 September 2011 Dear sir,
can you please tell me , when a person doing ICWA become eligible to add CMA before his name??...after getting membership or simply after passing out the final group??..

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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02 September 2011 Cost & Management Accountants (CMAs)
This is the primary qualification of the ICWAI and following completion of up to three levels (Foundation, Intermediate and Final) examinations [7] and three years of practical training [8] in areas like Management Accounting, Cost Accounting, Financial Accounting, Taxation, Audits , Corporate Laws etc. enables an individual to become a Cost & Management Accountant.
The new syllabus has been introduced in January 2008 following the International Education Guidelines (IEG) of IFAC to get the advantages in the process of Mutual Recognition Agreement ( MRA) among /different member countries of the world under GATS in WTO.
Subjects for examinations include management accounting, Financial Accounting, strategic management, taxation , corporate law, financial management, business valuation, financial reporting and cost & management audit etc.
Students who have passed degree examination of any recognized University or equivalent are eligible for admission directly to Intermediate level.
Paperwise exemptions on the basis of reciprocal arrangement are available to students who have passed Institute of Company Secretaries of India Final Examination.[9]
Examinations are held twice a year in June and December in various examination centres in India and overseas centres at Dubai and Muscat.
A student has to successfully pass three levels of examination and complete three years of practical training to be eligible to apply for Associate membership of the Institute.

Membership

According to Sec 2(b) of CWA Act 1959, “Cost Accountant” means a person who is a member of the Institute. Sec 5(1)provides that the members of the Institute shall be divided into two classes designated respectively as Associates and Fellows.

Associate Member
A person who has passed the Final Examination of the Institute and has obtained for a period of not less than three years of practical experience in the field of Cost & Management Accountancy and other related areas can apply for Associate Membership. The practical experience as above may be acquired prior to or after passing the Final Examination or partly before and partly after passing the said examination. The applicant has to produce evidence to the satisfaction of the Council[12]

After admission to membership, members are entitled to use the letter AICWA after his name to indicate that he or she is an Associate Member of the ICWAI.

Fellow Member
An Associate Member who has been in continuous practice in India for at least five years or a member who has been an Associate for a continuous period of not less than five years and who possesses such qualifications and experience as the Council may prescribe apply for Fellow Membership of ICWAI.[13]

Any person whose name is entered in the Register as a fellow of the Institute and so long as his name remains so entered, shall be entitled to use the letters FICWA after his name to indicate that he is a Fellow of the ICWAI. The Council of the Institute has mandated that the members of the Institute should use "CMA" as the prefix before their names to signify that he/she is a professional "Cost & Management Accountant"

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