The Ultimate Guide To Prepare For CMA Exams
Posted: Oct 02, 2021
CMA or Cost and Management Accountancy is a professional program for individuals who want to work for large organizations in the capacity of a professional CMA. The job of a CMA (Cost and Management Accountant) is to develop strategies to manage limited resources such as land or cash. A CMA also creates cost control techniques and methodologies according to the cash flow and nature of the business. Thus a Cost and Management Accountant works on both creating value and preserving it for any organization.
CMA Exams: Overview
The CMA exam is conducted every year by the Institute of Cost and Management Accountancy of India (ICMAI). The ICMAI designs the syllabus for the three levels of the examinations. Students can check the details of the courses on the ICMAI websites.
The three Levels of the CMA Exams are:
- CMA Foundation Exam
- CMA Intermediate Exam
- CMA Final Exam
Tips to prepare for CMA Exams
You can adopt several methods for successfully clearing the CMA exams. Of course, each method doesn't need to work out for everyone, but experts believe that few basic things must be kept in mind while preparing for the CMA exams. Some of these are:
1. Proper Coaching: Given the lengthy syllabus and the course structure, aspirants must take the help of CMA coaching classes to prepare for the different levels of the examinations. Coaching classes help in regularising the studies and also evaluate the potential performance from time to time. The coaching classes offer full-time classroom programs or online programs that the students can avail themselves of at their convenience.
- Time management and Planning: With the latest syllabus changes, it takes 12 weeks to complete the syllabus of CMA exams. Squeezing the vast topics within 12 weeks would still mean you must dedicate 20 to 30 hours of thorough studies per week. Thus CMA aspirants must manage their time well and plan out the study schedule to successfully crack the exams in the first attempt.
- Review of the completed topics: It is easy to lose track of the issues you have covered if the diligent approach is not adopted. It is necessary to review and revise the topics you have completed studying with the help of notes, summary recapitulation, mock tests etc.
- Create notes: Creating essential notes of the concepts and formulas goes a long way in the final revision schedule before the exams. In addition, these notes can be self-explanatory, and since they are self-written, it is easier to recover the data and information you had earlier processed.
- Keep a positive attitude: Keeping a positive attitude helps in beating stress. Small breaks, rewards after completing each module, taking frequent short breaks, etc., can help you maintain your mental well-being. It is essential to stay mentally fit to improve efficiency when you need it.
CMA examinations are challenging yet highly rewarding. Teachers teaching in some of the best CMA coaching classes unanimously agree upon the importance of the right guidance and approach.
The students who have taken up these classes emphasize the need for guidance too. Hence, it is important to consider the best coaching for achieving your objective.
This is Harshit from India. I just love to do something new in my life.