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ICWAI-CMAs in Project Costing Complete information

ICWAI-CMAs in Project Costing

ICWAI-CMAs in Project Costing

Cost & Management Accountants (CMAs)

This is the primary qualification of the ICAI and following completion of up to three levels (Foundation, Intermediate and Final) examinations and three years of practical trainingin areas like lManagement Accounting, Cost Accounting, Financial Accounting, Taxation, Audits, Corporate Laws etc. enables an individual to become a 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 degree examination of any recognised university or equivalent are eligible for admission directly to Intermediate level.
  • Paperwise exemptions on the basis of reciprocal arrangement are available to students who have passed Institute of Company Secretaries of India Final Examination.
  • Examinations are held twice a year in June and December in various examination centres in India and overseas centres. And Results are declared in the month of August and February for June term and December term exams respectively.

A student has to pass three levels of examination and complete three years of practical training to be eligible to apply for Associate membership of the Institute.

The members of the Institute of Cost Accountants of India carry the designation ACMA (Associate Cost and Management Accountant) and FCMA (Fellow Cost and Management Accountant), as applicable based on their type of membership of the institute.

ICWAI-CMAs in Project Costing

Project classification: Academically the projects types have been classified based on type of activity, Location, completion time, Ownership, Size and based on need.  Very famously based on need classified as follows: a. New project- Activity to completely taken up the new work b. Balancing project- Activity to balance the work with other work in same place c. Expansion Project- Expanding the existing activities to the certain level. d. Modernization Project- Update the existing activities with latest technology. e. Replacement Project- Replace the existing activities with alternative better activity. f. Diversification Project- Diversify the current activity to other activity

ICWAI-CMAs in Project Costing

Project Phases:  Generally project phases will be classified starts from a. Need of Project b. Project initiation & Idea c. Project proposals & Evaluation d. Project Planning & Design e. Project execution & Implementation f. Project Completion & Commissioning g. Project post completion & Maintenance

ICWAI-CMAs in Project Costing

What is Project:  A project is the collection of several activities to complete or achieve one decided or identified goal or object. The all activities in the project may be dependent or independent, sequentially or non sequentially, related or non related, but the final object or goal of the project is same. Today in Global scenario several activities in Government or Non Government has been taken up the project based activities. In these circumstances the role of CMA in Project Costing is very important and critical one.

ICWAI-CMAs in Project Costing

ICWAI | CMA Inter Question paper with Solution For Syllabus 2012- June  2016

From following table you can download CMA  Inter suggested answers – Syllabus 2012

GROUP-  I

 Subject Download
Paper  5  : Financial AccountingDownload
Paper 6 : Laws Ethics and GovernanceDownload
Paper  7 : Direct TaxationDownload
Paper 8 : Cost Accounting and Financial ManagementDownload

GROUP –  II

 Subject Download
Paper 09: Operation Management & Information SystemsDownload
Paper 10: Cost & Management AccountancyDownload
Paper 11: Indirect TaxationDownload
Paper 12: Company Accounts and AuditDownload

ICWAI-CMAs in Project Costing

Download ICWAI | CMA Inter Suggested Answers Dec 2015

Suggested Answers – December 2015 (Syllabus 2012) Set-1

Sl. No.Group IDownload
1.Paper-5 : Financial AccountingClick Here
2.Paper- 6 : Laws Ethics and GovernanceClick Here
3.Paper – 7 : Direct TaxationClick Here
4.Paper – 8 : Cost Accounting and Financial ManagementClick Here
Group II
1.Paper- 9 : Operation Management and Information SystemsClick Here
2.Paper – 10 : Cost and Management AccountancyClick Here
3.Paper-11 : Indirect TaxationClick Here
4.Paper – 12 : Company Accounts and AuditClick Here

ICWAI-CMAs in Project Costing

Suggested Answers – December 2015 (Syllabus 2012) Set-2

Sl. No.Group IDownload
1.Paper-5 : Financial AccountingClick Here
2.Paper- 6 : Laws Ethics and GovernanceClick Here
3.Paper – 7 : Direct TaxationClick Here
4.Paper – 8 : Cost Accounting and Financial ManagementClick Here
Group II
1.Paper- 9 : Operation Management and Information SystemsClick Here
2.Paper – 10 : Cost and Management AccountancyClick Here
3.Paper-11 : Indirect TaxationClick Here
4.Paper – 12 : Company Accounts and AuditClick Here

ICWAI-CMAs in Project Costing

Recommended read:

ICWAI-CMAs in Project Costing

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