What is Cost Management Accounting ?

It is one of the trendiest and in-demand programs in the commerce field. Not only students from the commerce background are opting for this course, but also students from other streams who want to make a career in the commerce field are going for this program. As a result, Cost Management Accounting is one of the most popular courses in the commerce field.

ICAI, Institute of Cost Accountants of India is the head institution that provides the credentials of this program. The course focuses on the accounting, financial, and management aspects that are required in businesses all over the world. Cost Management Accounting programmes focus on a wide range of subject areas such as financial analysis, audit, tax, laws & ethics, management strategies, cost, accounting, and many other topics. There are a total of 20 topics/subjects which are taught in this course. The subjects are segregated into three different levels. The entire course comprises of three different levels:

Level 1 – Cost Management Accounting Foundation
Level 2 – Cost Management Accounting Intermediate
Level 3 – Cost Management Accounting Final

Students need to clear all three levels to complete this course and get certified as a qualified Cost Management Accounting. The course is generally of 3 – 4 years, which may also vary depending upon various factors such as the capacity to learn, interest, dedication, and hard work.

Eligibility Criteria (UG & PG) of Cost Management Accounting


Eligibility criteria for Foundation level
1. The candidate needs to have completed their class 10 or any equivalent educational qualification from a recognised board or institution.
2. The candidate should have completed his senior secondary (10+2) education qualification or any other equivalent examination from a recognised board or institution.

Eligibility criteria for Intermediate level

1. The candidate should have completed his senior secondary (10+2) education qualification or any other equivalent examination from a recognised board or institution.
2. The candidate should have qualified in the foundation level exam of the ICAI.

Eligibility criteria for Final level

1. The candidate should have completed his senior secondary (10+2) education qualification or any other equivalent examination from a recognised board or institution.
2. The candidate should have qualified in the intermediate level exam of the ICAI.

Scope of Cost Management Accounting in India and Abroad

As per a survey, the accounting sector is one of the most preferred sectors by business/commerce graduates. The survey was conducted by the Times of India. There is a wide range of opportunities in the accounting and the auditing industry, and therefore, students from commerce background should go for making a career in this field. Pursuing educational qualifications in the accounting field will give in-depth knowledge about the business sector and will open up great career prospects.

Cost Management Accounting qualified professionals have the skills to handle work for big companies. As every company requires professionals for their accounting purposes, Cost Management Accounting is not only a stable career but also a career with good earnings.

Many companies in India recruit professionals from this field every year. Some of the top scorers get directly selected and get a job in the big companies. It also gives the required edge to qualification and skills in this sector so that one can also earn by working both inside and outside the country. It opens up opportunities and makes professionals eligible for big organisations and MNCs all around the globe.

Careers in Cost Management Accounting

Cost Management Accounting qualified professionals are also eligible for contributing or making big decisions in various top-level positions in an organisation. Cost Management Accounting certification provides individuals with the power to deal with critical business scenarios and work among business leaders. The career opportunities in this field are stable, along with high earnings