The Institute of Cost Accountants of India (ICMAI) offers admissions for pursuing courses in the Cost and Management Accountancy. The Institute was established in 1944 as a registered company under the Companies Act. On 28th May 1959 the institute was established by a special act of  Parliament, as a statutory professional body for the regulation of the profession of Cost Accountancy. ICMAI, every year conducts exam for the admission to Foundation Course, Intermediate and Final Course.

The entrance exam for all the three courses is held twice in a year, in June and in December. 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.

Intermediate is one of the courses offered by ICMAI.

Candidates interested in pursuing this course should make sure that they fulfill all the eligibility requirement required for applying for the said exam. The entrance exam will be held for two groups offered under Intermediate Course. The candidates will have a choice of appearing either for Group one or Group two.  The Application Forms for all the courses will be available on the official website of the Institute. Candidates should go through the instructions mentioned in detail before proceeding for the Form.

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.

Important Dates

The entrance exam of Intermediate 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 Programme for Syllabus 2016

Time: 2 PM to 5 PM

December 10th 2017, (Sunday) Financial Accounting
December 11th, 2017 (Monday) Laws and Ethics
December 12th, 2017 (Tuesday) Direct Taxation
December 13th, 2017 (Wednesday) Cost Accounting
December 14th, 2017 (Thursday) Operation Management and Strategic Management
December 15th, 2017 (Friday) Cost and Management Accounting and Financial Management
December 16th, 2017 (Saturday) Indirect Taxation
December 17th, 2017 (Sunday) Company Accounts and Audit

ICMAI Intermediate Course Application Form and Registration

Candidates applying for Intermediate Course will be required to get themselves Registered first. 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 Intermediate 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 Intermediate 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)

                               1200/-

US $ 90

Two Group       (Inland Centers)

Overseas Centers)

                               2400/-

US $ 90

ICMAI Intermediate 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:

  • The candidate should have cleared 10+2 examination and the Foundation Course of ICWAI/should be a graduate in any discpline apart from Fine Arts/Foundation (Entry Level) part 1 examination of CAT of the Institute/Foundation (Entry Level) part 1 examination and Competency level Part 2 examination of CAT of the institute.
  • Candidates awaiting results can also apply

ICMAI Intermediate 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 weighatge of the subjects under both the groups are mentioned in the tabular format below:

Syllabus 2016 (Group 1)

                Subject                 Topic                Weightage
Paper 5- Financial Accounting Section A- Accounting (Basics)

Section B- Preparation of Financial Statements

Section C- Self balancing ledgers, Royalties, Hire purchase and Installment Systems, Branch and Departmental Accounts

Section D- Accounting in Computerized Environment and Accounting Standards

                    25%

40%

20%

15%

 

 

 

Paper 6- laws and Ethics

Section A- Commercial laws

Section B- Industrial laws

Section C- Corporate Law

Section D- Ethics

                    30%

25%

35%

10%

 

 

Paper 7- Direct Taxation

Section A- Income Tax Act Basics

Section B- Heads of Income and Computation of Total Income and  Tax Liability

Section C- Administrative Procedures and ICDS

                    10%

70%

20%

 

 

Paper 8- Cost Accounting

Introduction to Cost   Accounting

Methods of Costing

Cost Accounting Techniques

                     40%

30%

30%

Syllabus 2016 (Group 2)

               Subject             Topic             Weightage           
Paper 9- Operations Management and Strategic Management Section A- Operations Management

Section B- Strategic Management

                  70%

30%

 

Paper 10- Cost & Management Accounting and Financial Management

Section A- Cost and Management Accounting

Section B- Financial Management

                   50%

50%

Paper 11- Indirect Taxation Canons of Taxation and Central excise

Customs Law

Service Tax

Central Sales Tax and VAT

                   35%

15%

30%

20%

Paper 12- Company Accounts and Audit Section A- Accounts of Joint Stock Companies

Section B- Auditing

                   50%

50%

 ICMAI Intermediate Course Syllabus

The Syllabus of Intermediate Course of both the groups (1 and 2) is mentioned in here. Candidates appearing for the exam can go through the syllabus in detail and can start preparing for the mentioned topics under tabular format:

Syllabus 2016 (Group 1):

                           Subject                            Syllabus
Paper 5- Financial Accounting Section A- Accounting (Basics)

  • Fundamentals of Accounting
  • Accounting for Special Transactions

Section B- Preparation of Financial Statements

  • Preparation of Final Accounts of Profit Oriented Organization, Non Profit organization and from Incomplete Records
  • Partnership Accounts

Section C- Self balancing ledgers,Royalties, Hire Purchase & installment System, Branch and Departmnetal Accounts

  • Self Balancing ledgers
  • Royalties, Hire purchase and Installment Systems
  • Branch and Departmental Accounts

Section D- Accounting in Computerized Environment and Accounting Standards

  • Overview of Computerized Accounting
  • Accounting Standards
Paper 6- laws and Ethics Section A- Comercial laws

  • Indian Contract Act, 1872
  • Sale of Goods Act, 1930
  • Negotiable Instruments Act, 1881
  • Indian partnership Act, 1932
  • Limited Liability partnership Act, 2008

Section B- Industrial Laws

  • Factories Act, 1948
  • Payment of Gratuity Act, 1972
  • Employess Provident Fund Act, 1952
  • Employees State Insurance Act, 1948
  • Payment of Bonus Act, 1965
  • Minimum Wages Act, 1948
  • Payment of Wages Act, 193

Section C- Corporate Law

  • Companies Act, 2013

Section D- Ethics

  • Business ethics
Paper 7- Direct taxation Section A- Income Tax Act Basics

  • Introduction to Income Tax Act, 1961
  • Income which do not form part of total Income (Section 10, 11 to 13 A)

Section B- Heads of Income and Computation of total Income and Tax liability

  • Heads of Income and Computation of Total income under various heads
  • Clubbing provisions, set off and carry forward of losses, deductions
  • Assessment of Income of Different Persons.
  • Corporate Taxation
  • TDS, TCS and Advance Tax

Section C- Administrative Procedures and ICDS

  • Administrative Procedures
  • Income Computation and Disclosure Standards- basic Concepts only

Syllabus 2016 (Group 2):

                        Subject                            Syllabus
Paper 9- Operations Management and Strategic Management Section A- Operations Management

  • Operations Management- Introduction
  • Operations Planning
  • Designing of Operational System and Control
  • Production Planning and Control
  • Prodcutivity Management and quality management
  • Project management
  • Economics of Maintanence and Spares Management

Section B- Strategic Management

  • Strategic Management Introduction
  • Strategic Analysis and Strategic Planning
  • Formulation and Implementation of Strategy
Paper 10- Cost and Management Accounting and Financial Management

Paper 11- Indirect Taxation

Section A- Cost and Management Accounting

  • Cost and Management Accounting- Introduction
  • Decision Making Tools
  • Budgeting and Budgetary Control
  • Standard Costing and Variance Analysis
  • Learning Curve

Section B- Financial Management

  • Introduction to Financial Management
  • Tools for Financial Analysis and Planning
  • Working Capital Management
  • Cost of capital, capital structure theories, Dividend decisions and Leverage Analysis
  • Capital Budgeting- Investment Decisions
  • Canons of Taxation
  • Central Excise
  • Customs Law
  • Service Tax
  • Central Sales Tax and VAT
Paper 12- Company Accounts and Audit Section A- Accounts of Joint Stock Companies

  • Accounting of Shares and Debentures
  • Presentation of Financial Statements
  • Cash Flow Statement
  • Accounts of Banking, Electricity and Insurance Companies
  • Accounting Standards (AS- 11,12,15,16,17,18 and 19)

Section B- Auditing

  • Auditing Concepts
  • Provision related to Audit under Companies Act

ICMAI Intermediate Course Admit Card

The Admit card of ICMAI Intermediate 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 Intermediate 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 be announced only 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 this page
  • 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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