CMA Exemption for ICSI, CIMA, ACCA UK & Engineering Students. Here we are providing Complete details of Exemption For Various Qualification Like – Exemption for CS Students, Exemption for CIMA – UK Students, Exemption for ACCA – UK Students etc. Recently we also provide complete details for CMA Conversion to Syllabus 2012 from 2002 via 2008 and CMA Clarification on Conversion to Syllabus Now you can scroll down below and check complete details regarding CWA/CMA CMA Exemption for ICSI, CIMA, ACCA-UK & Engineering
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CMA Exemption for ICSI, CIMA, ACCA UK & Engineering
Qualification-based RECIPROCAL EXEMPTION SCHEME under Syllabus 2012 between the Institute of Cost Accountants of India and the Institute of Company Secretaries of India
| Exemption to ICSI passed candidates from papers of the Institute of Cost Accountants of India | Exemption to the Institute of Cost Accountants of India passed candidates from papers of ICSI |
| Foundation course Full exemption | Foundation Program-Full exemption |
| Intermediate course | Executive Programme |
| Group 1, Paper 7 : Direct Taxation | Module 1, Paper 2: Cost and Management Accounting |
| Group 1, Paper 8: Cost Accounting and Financial Management | Module 1, Paper 4: Tax Laws and Practice |
| Group 2, Paper 12: Company Accounts and Audit | Module 2, Paper 5 : Company Accounts and Auditing Practices |
| Final Course | Professional Programme |
| Group 3 Paper 13: Corporate Laws & Compliance | Module 1, Paper 1: Advanced Company Law & Practice |
| Group 3 Paper 14:Advanced Financial Management | Module 2, Paper 5 : Financial, Treasury and Forex Management |
| Group 3, Paper 16: Tax Management and Practice | Module 3, Paper 7 : Advanced Tax Laws and Practice |
Further, the subject exemption fee for each paper is fixed at Rs.1,000/- (Rupees One Thousand only )
ICSI- qualification based exemption granted and availed under Syllabus 2008 now opts to pursue the Course under Syllabus 2012
Must Read – CMA Clarification on Conversion to Syllabus 2012
Any student pursuing the course of the Institute, to whom, subject exemption under Syllabus 2008 was granted on the basis of ICSI-Qualification, now desires to opt for pursuing the course under Syllabus 2012, shall be guided by the following procedure:
| ICSI- Qualification based exemption granted under Syllabus 2008 | ICSI- Qualification based exemption to be granted under Syllabus 2012 | Special Note |
| Intermediate Course | ||
| Paper 5 – Financial Accounting of Group I | NO CORRESPONDING EXEMPTION AGAINST THIS PAPER | Student Shall Have to appear in “Paper 5 – Financial Accounting” |
| Paper 7 – Applied Direct Taxation of Group I | Paper 7 – Direct Taxation of Group I | |
| Paper 8 – Cost Accounting & Financial Management under Group I | ||
| Paper 12 – Company Accounts and Audit of | This is an additional benefits offered to a student as per ICAI-ICSI MoU – Reciprocal Exemption Scheme. | |
| Group II | However, the exemption is not granted suo-moto and hence, the student shall have to make an application to the Directorate of Studies, Headquarters, CMA Bhawan, 12, Sudder Street, alongwith the prescribed fee of Rs.1,000/- (Rupees One Thousand only), per subject drawn in favour of the Institute of Cost Accountants of India, payable at Kolkata. Upon receipt of the same, Directorate of Studies, would issue a revised letter granting exemption from appearing in the subjects as per MoU for this Intermediate Course |
Note: Qualification-based exemption shall remain valid as was/is offered for that respective Syllabus only.
Example: If a student to whom exemption in some specified papers under Syllabus 2008 were granted on the basis of ICSI-qualification, then such exemption shall remain valid and can only be availed under Syllabus 2008
Must Read – CMA Clarification on Conversion to Syllabus 2012
So, if these students until June 2015, being the last term of Examination, under “Syllabus 2008”, fails to qualify the respective course (say Intermediate or Final), then the benefit / exemption so granted, will not be offered further on the same subjects. However, the benefit would be offered only as per subjects in “Syllabus 2012”. Students are to follow the procedure prescribed/ to be prescribed by the Directorate of Studies, from time to time.
| ICSI- Qualification based exemption granted under Syllabus 2008 | ICSI- Qualification based exemption to be granted under Syllabus 2012 | Special Note |
| Paper 12 – Financial Management & International Finance of Group III | Paper 14 – Advanced Financial Management of Group III | |
| Paper 14 – Indirect and Direct Tax Management of Group III | Paper 16 – Tax Management & Practice of Group III | |
| Paper 13 – Corporate Laws & Compliance of Group III | This is the additional benefit offered to the student as per ICAI-ICSI MoU – Reciprocal Exemption Scheme. However, the exemption is not granted suomoto and hence, the student shall have to make an application to the Directorate of Studies, Headquarters, CMA Bhawan, 12, Sudder Street, alongwith the prescribed fee of Rs.1,000/- (Rupees One Thousand only),[for this subject] drawn in favour of the Institute of Cost Accountants of India, payable at Kolkata. Upon receipt of the same, Directorate of Studies, would issue a revised letter granting exemption from appearing in the subjects as per MoU for this Final Course |
Exemption for Engineering Graduates
For Engineering Graduates having completed 2nd year/IV Semester/equivalent or Graduate Engineers (qualified Engineering Final Examination)
| Exempted from CMA Foundation Course
Exemption from appearing in the following two papers at the Intermediate Course under Syllabus 2012: Paper 6 – Laws, Ethics & Governance ( LEG) Paper 9 – Operations Management & Information System (OMIS |
Exemption for CIMA – UK qualified students
CIMA – UK qualified students are eligible to exemption in following papers under syllabus 2012.
| Foundation- Complete exemption | |
| Intermediate : | Final : |
| Paper 5- Financial Accounting | Paper 14- Advanced Financial Management |
| Paper 8-Cost Accounting and Financial Management | Paper 15- Business Strategy and Strategic Cost Management |
| Paper 9-Operations Management and Information Systems | Paper 17- Strategic Performance Management |
| Paper 10- Cost and Management Accountancy | Paper 18- Corporate Financial Reporting |
| Paper 12- Company Accounts and Audit | Paper 20- Financial Analysis and Business Valuation |
| Further, the subject exemption fee for each paper is fixed at Rs.1,000/- (Rupees One Thousand only ) |
Exemption for ACCA- UK qualified students
ACCA- UK qualified students are eligible to exemption in following papers under syllabus 2012.
| Foundation- Complete exemption | |
| Intermediate : | Final : |
| Paper 5- Financial Accounting | Paper 14- Advanced Financial Management |
| Paper 6 – Laws, Ethics & Governance | Paper 15- Business Strategy and Strategic Cost Management |
| Paper 8-Cost Accounting and Financial Management | Paper 17- Strategic Performance Management |
| Paper 10- Cost and Management Accountancy | Paper 18- Corporate Financial Reporting |
| Paper 12- Company Accounts and Audit | Paper 20- Financial Analysis and Business Valuation |
| Further, the subject exemption fee for each paper is fixed at Rs.1,000/- (Rupees One Thousand only ) |
Must Read – CMA Clarification on Conversion to Syllabus 2012