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The Institute of Cost Accountants of India (ICMAI) held the entrance exam for the admission to courses in Cost and Management Accountancy. The courses namely are Foundation Courses, Intermediate courses and Final Courses. The entrance exam for all the three courses is conducted by the institute twice in a year, in December and in June. Candidates are required to apply for the Course of their choice in which they want to pursue further. The job description of the person pursuing Cost Accountancy involves the costing or pricing of Goods and Services or the preparation, verification or certification of Cost Accounting and related statements.

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Registrations remain open throughout the year. However, candidates willing to appear for June term examination should apply before 31st January of that year and for December term examination should apply before 31st July of that year. The result for December 2017 exam of all the courses has been announced on 21st February 2018. The next exam will be conducted in June 2018.

Final Course is one of the courses offered by the Institute. Candidates desirous of applying for the entrance exam will be required to fill up the Application Form available on the official website of the Institute. However, it should be assured by the candidate that she/he fills the prescribed eligibility criteria required to apply for the exam.

ICMAI Important Update

It should be noted that examination under Syllabus 2016 will commence from June 2017. However, it has been decided that the examination under syllabus 2012 will be extended for another two terms i.e. June 2017 and December 2017. Hence, candidates were given the choice of appearing under either one of the syllabi. But the examination of June 2018 will only be conducted under Syllabus 2016.

ICMAI Important Dates

The entrance exam of Final course will be conducted in June 2018. The official dates of the upcoming exam has not been released yet but candidates can go through the schedule of December 2017 exam mentioned in the tabular format below for getting a reference of how the examination will be scheduled:

Date and Day

Final (Programme for Syllabus 2016)
                10th December 2017 Corporate laws and compliance
                11th December 2017 Strategic Financial Management
                12th December 2017 Strategic Cost Management- Decision Making
                13th December 2017 Direct Tax laws and International Taxation
                14th December 2017 Corporate Financial Reporting
                15th December 2017 Indirect tax Laws and Practice
                16th December 2017 Cost and Management Audit
                17th December 2017 Strategic Performance Management and Business Valuation

ICMAI Final Course Application Form and Registration

Candidates desirous of applying for the Final Course will be required to register themselves first from the official website of the Institute. It is advised that the candidate must go through the instructions mentioned in detail regarding the Application Form and the eligibility criteria. The submission of the Application Form will be accepted only after the successful payment of the Application Fee.  Students admitted/registered/enrolled to Intermediate Course at least 4 months prior to the month of the examination shall be eligible to appear for the Intermediate Course.

ICMAI Student Login:

If the candidate has registered herself/himself, they can Login to ICWAI/ICMAI Student login by visiting the official website i.e. icmai.in. The following credentials will be required if want to Login successfully:

  • Application Number
  • Registration Number
  • Email ID
  • Mobile Number
  • Date of Birth

ICMAI Final Course Application Form:

Candidates will be able to fill up the Application Form once registered. Candidates can apply online through student Login, it should be noted that only online Application Forms will be available and no other mode of forms will be accepted. Only students who will be opting for overseas centres will have to apply offline and send DD along with form.

Steps for applying Online for CMA Final Course:

  • Visit the official website i.e. icmai.in
  • Click the Students Portal link
  • There will be a Online Examination form link, click on it
  • Tap the Students icon
  • On the next page, navigate to Online Application form under Activities
  • Click on the Form link
  • Select your course as Foundation from the drop down that appears
  • Read the instructions given thoroughly and apply online

Payment of Application Fee:

The payment of the Application fee will only be in the Online mode. Only students who will be opting for overseas centres will have to apply offline and send DD along with form. Go through the amount of examination fee mentioned here:

Group (S) Intermediate Examination
One Group       (Inland Centers)

(Overseas Centers)

1400/-

US $ 100

Two Group       (Inland Centers)

(Overseas Centers)

2800/-

US $ 100

ICMAI Final Course Eligibility Criteria

Candidates desirous for appearing in an exam are advised to go through the eligibility conditions in detail before filling up the Application Form. ICMAI has prescribed the eligibility condition of every course which should be fulfilled by the candidate, in case of false information, the institute reserves the right of cancelling the candidature. The Eligibility criteria of Intermediate Course is mentioned in points below:

ICWAI Final Examination:

  • The candidates should have passed standard 12th
  • The candidate should be a graduate in any discipline except Fine arts or equivalent
  • The candidate should have cleared all eight papers of CMA Intermediate course.

ICMAI Final Course Examination pattern

Candidates appearing for ICMAI Intermediate Course exam can go through the examination pattern. There are certain points which should be kept in mind before appearing for the exam. The examination pattern of every entrance exam will differ from course to course. Aspiring candidates can go through the important points regarding examination pattern mentioned below:

  • Students appearing for ICMAI Foundation Course exam must note that questions will be framed under 2016 Syllabus only.
  • The examination will be in offline mode i.e. pen and paper based only
  • Questions will be asked from Syllabus 2016 and the pattern of the question paper will be of subjective type
  • The entrance examination for Foundation Course under the 2016 syllabus will take place in the afternoon time slot.
  • The entrance exam of Intermediate Course will held in Group 1 and Group 2. Candidates will have to choose the Group for which they want to appear.
  • The weightage of the subjects under both the groups are mentioned in the tabular format below:

Syllabus 2016 (Group 3):

           Subject              Topic            Weightage
Paper 13- Corporate Laws and Compliance Section A- Compnaies Act

Section B- Other Corporate Laws

Section C- Corporate Governance

                50%

30%

20%

 

 

 

 

Paper 14- Strategic Financial Management

Section A- Investment Decisions

Section B- Financial markets and Institutions

Section C- Security Analysis and Portfolio Management

Section D- Financial Risk Management

                 25%

20%

25%

30%

 

 

 

Paper 15- Strategic Cost Management- Decision Making

Section A- Cost Management

Section B- Strategic Cost Management Tools and Techniques

Section C- Strategic Cost Management- Application of Statistical Techniques in Business Decisions

                 20%

50%

30%

Paper 16- Direct Tax Laws and International Taxation Section A- Advanced Direct Tax Laws

Section B- International Taxation

Section C- Tax Practice and Procedures

                  50%

30%

20%

Syllabus 2016 (Group 4):

             Subject                Topic              Weightage
Paper 17- Corporate Financial reporting Section A- GAAP and Accounting Standards

Section B- Accounting of Business Combinations and Restructuring

Section C-Consolidated Financial Statements

Section D- Developments in Financial reporting

Section E- Government Accounting in India

                 30%

20%

20%

15%

15%

 

 

Paper 18- Indirect Tax laws and Practice

Section A- Advanced Indirect tax- Laws and Practice

Section B- Tax Practice and Procedure

                 80%

20%

 

 

 

 

Paper 19- Cost and Management Audit

Section A- Cost Audit

Section B- Management Audit

Section C- Internal Audit, Operational Audit and Other related issues

Section D- Case Study on performance Analysis

                 35%

15%

25%

25%

Paper 20- Strategic Performance Management and Business valuation Section A- Strategic peformance management

Section B- Business valuation

                50%

50%

ICMAI Final Course Syllabus

The Syllabus of ICMAI Final Course of the Groups (3 and 4) is mentioned here. Candidates preparing for the entrance exam can go through the topics which will be covered in the question paper. Read for the syllabus topics in the tabular format below:

Syllabus 2016 (Group 3):

                          Subject                               Syllabus
Paper 13- Corporate Laws and Compliance Section A- Companies Act
  • The Companies Act, 2013

Section B- Other Corporate laws

  • SEBI Laws and Regulations
  • The Competition Act 2002 and its role in Corporate Governance
  • Foreign Exchange Management act, 1999
  • Laws related to banking sector
  • Laws related to Insurance Sector

Section C- Corporate Governance

  • Corporate Governance
  • Social, environmental and economic responsibilities of business
Paper 14- Strategic Financial Management Section A- Investment Decisions
  • Investment Decisions, Project planning and Control
  • Evaluation of Risky Proposals for Investment Decisions
  • Leasing Decisions

Section B- Financial markets and Institutions

  • Institutions in Financial Markets
  • Instruments in Financial markets
  • Capital markets
  • Commodity exchange

Section C- Security Analysis and Portfolio management

  • Security Analysis and Portfolio management

Section D- Financial risk management

  • Financial risks and Management
  • Financial Derivatives- Instruments for Risk management
  • Financial risk management in International Operations
Paper 15- Startegic Cost management- Decision making Section A- Cost Management
  • Cost management

Section B- Strategic Cost management tools and techniques

  • Decision Making techniques
  • Standard costing in profit planning
  • Activity based Cost management- JIT and ERP
  • Cost of Quality and Total Quality management

Section C- Strategic Cost management- Application of Statistical techniques in Business decisions

  • Application of Operation Research and statistical tools in strategic decision making
Paper 16- Direct tax laws and International taxation Section A- Advanced direct Tax laws
  • Return of Income and Assessment Procedure
  • Assessment of Various entities and Tax planning
  • Clubbing of Income
  • Set off and Carry forward and Set off of losses
  • Deduction in Computing total income
  • Business restructuring
  • Administrative Procedures under Direct taxation
  • Grievances Redressal Procedure
  • Settlement of Cases
  • Black Money Act, 2015

Section B- International Taxation

  • Double Taxation Avoidance Agreement (DTAA)
  • Transfer Pricing Issues

Section C- Tax Practice and Procedures

  • Case Study analysis

Syllabus 2016 (Group 4):

                          Subject                           Syllabus
Paper 17- Corporate Financial reporting Section A- GAAP  and Accounting Standards
  • Accounting Standards

Section B- Accounting of Business combinations and Restructuring

  • Accounting of Business Combinations and Restructuring

Section C- Consolidated Financial Statements

  • Group Financial statements

Section D- Developments in Financial reporting

  • Recent trends in financial reporting
  • Valuation, Accounting and Reporting of Financial Instruments and others
  • Share Based payments
  • Reporting through XBRL (Extended Business reporting language)

Section E- Government Accounting in India

  • Government Accounting Procedure and Standards
Paper 18- Indirect tax laws and practices Section A- Advanced Indirect Tax-Laws &Practice
  • Central Excise
  • Customs Law
  • Service Tax
  • Foreign Trade Policy (with special reference to tax planning)
  • Central Sales tax and Value Added tax

Section B- Tax Pratcice and Procedure

  • Case Study Analysis
Paper 19- Cost and Management Audit Section A- Cost Audit
  • Nature, Scope, Utility and advantages of Cost audit
  • Companies (Cost records & audit) Rules, 2014
  • Professional Ethics, Misconduct, offences and Penalties
  • Cost Accounting Standards
  • Cost Auditing and Assurance standards
  • Format of Cost Audit Report-XBRL-Salient Features

Section B- Management Audit

  • Management Reporting issues under cost audit
  • Management Audit- Meaning, nature, Scope etc.
  • Energy Audit, efficiency audit, propriety audit and systems audit
  • Evaluation of Corporate Image- Corporate Developement audit
  • Impact of Enviromental pollution

Section C- Internal Audit, Operational Audit and other related issues

  • Concept of Internal Audit
  • Provisions of Internal Audit under Companies Act, 2013
  • Audit Planning, Audit Programme, Audit working papers
  • Receivable audits, audit of services and local bodies

Section D- Case Study on Performance Analysis

Paper 20- Strategic Perfomance Management and Business evaluation

 

Section A- Strategic Performance Management
  • Conceptual Framework of Performance Framework
  • Performance evaluation and Improvement tools
  • Economic efficiency of the firm- Impact analysis on performance
  • Enterprise Risk Management

Section B- Business Valuation

  • Business valuation Basics
  • Valuation in Mergers and Acquisitions
  • Fair Value in Accounting measurement
  • Valuation of Intangibles

ICMAI Final Course Admit Card

The Admit card of ICMAI Final Course will be available on the official website of the Institute. Candidates who have successfully submitted the Application Form will be able to access the Admit Card. It should be noted that the document will not be sent individually through post or any other offline mode and it will only be available through the online procedure. Applicants will be required to download and take a printout of the Admit Card. It is advised the candidates cross check the details mentioned on the document and in case of any incorrect information, the examination authority should be immediately contacted.

Admit Card is a mandatory document to be carried on the day of the exam along with one Photo ID (Pan Card, Aadhar Card, Driving License etc.), in case of its absence, the candidates will be prohibited from appearing for the exam.

Steps to Download the Admit Card:

For downloading the Admit Card successfully, candidates can follow the following procedure mentioned in points below:

  • Click on the link of admit Card available on the official website of the Institute
  • Choose the course for which the candidate has applied for
  • Enter the Registration Number
  • Cross Check the Admit card, if any incorrect information is provided, the examination authorities should be immediately contacted
  • If satisfied, download the Admit Card
  • Click on Print Admit Card and take the printout of it

ICMAI Final Course Result

The ICWAI Result exam will be released online on the official website i.e. icmai.in. For checking the result, candidates will have to enter the Identification Number/Registration Number. Only those candidates who will score more than the qualifying marks will qualify ICWAI exam. Along with the result, pass percentage is also announced.

Along with the result the rank list is also released. However, it will only be announced for Intermediate and Final exam. The Rank list will consist the following details.

  • Rank
  • Syllabus
  • Roll number
  • Registration Number
  • Name
  • Gender
  • Photograph
  • Center Code
  • Center Name
  • Serial Number

Qualifying marks and Pass Percentage:

The candidates will only be considered qualified, if they surpass the pass percentage in the examination. It should be noted that pass percentage and qualifying marks are different.

Qualifying Marks: A candidate will pass in an examination if they secure atleast 40% marks in each paper of the group and atleast 50% marks in aggregate in non-exempted paper of the Group.

Pass Percentage: The pass percentage is the percentage of the candidates who have qualified the examination.

Steps to check ICWAI Result:

  • Click on the link which will be provided on the official website of the Institute.
  • A window asking for Identification number will be displayed
  • Candidates will have to enter the Identification Number and click on the ‘View Result’ button
  • Check the result and download the PDF displayed on the screen for future procedure of admission.

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