CMA, or Cost and Management Accounting, is a certificate course providing CMA designation to the qualifiers. The designation is a gateway to a lucrative career in business accounting. The CMA course functions on four pillars of knowledge, including Management, Regulatory Framework, Strategy, and Financial Reporting. The designation of a CMA is provided after a candidate qualifies the CMA exam conducted at three levels mentioned below
Level 1: CMA Foundation
Level 2: CMA Intermediate
Level 3: CMA Final
CMA Full Form
Cost and Management Accountant is abbreviated as CMA. Earlier, CMA was known as Cost and Work Accountant (CWA). ICWAI awarded CWA designation to all the qualified candidates. Later, with the change in name, ICWAI became ICAI, and CWA became CMA. The change came into existence to compete with the similar level of designations in other countries. Most countries had a similar designation and addressed the same CMA's, i.e. certified management accountants. To provide equal status to the CWA qualifiers, the change in name was proposed. Additionally, the curriculum of the course is more management than works accountancy to provide knowledge at par with the growing technologies.
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