CMA colleges in Guntur

Sri Medha, the top leading commerce institute in South India imparting quality education from Jr. Inter to CA & CMA Final under one roof with the motto of Igniting Intelligence & Delivering excellence.

The Institute of Cost Accountants of India was first formed as a registered limited company on 14 June 1944 as per the provisions of the then Companies Act, 1913. Post Independence, the institute got statutory recognition when the Parliament of India enacted "The Cost and Works Accountants Act" (Act No.23rd of 1959) a special act, on 28 May 1959 to accord statutory recognition to ICMAI (previously ICWAI) as an autonomous professional Institute.

The CWA Amendment bill, 2011 was passed by both the Houses of Indian Parliament viz. Lok Sabha and the Rajya Sabha on 12 December 2011 and assented by the president of India on 12 January 2012. The changes were published in the Official Gazette of India on 13 January 2012. As of now, there are a total of 85000 active members of ICMAI.

Qualification and syllabus

This is the primary qualification of the ICMAI following completion of up to three levels 

(Foundation, Intermediate, and Final)

 Examinations and three years of practical training in areas like management accounting, cost accounting, financial accounting, taxation, cost audits, GST audits, internal audit, corporate laws, etc. and enables an individual to become a CMA (cost & management accountant).

The new syllabus has been introduced in August 2016 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 the degree examination of any recognized university or equivalent are eligible for admission directly to the Intermediate level.

Paper-wise exemptions on the basis of reciprocal arrangement are available to students who have passed Institute of Company Secretaries of India Final Examinations.

Examinations are held twice a year in June and December in various examination centers in India and overseas centers. The results are declared in August and February for the June term and December term exams respectively.

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