The CMA India Foundation exam belongs to the CMA India exam, which has three papers and the Foundation is the first exam among them. The exam is governed by the CMA Institute that was established under the Companies Act 1956. Later, the Institute was reshaped by the ICWAI Act, 1959, and came to be known as the Institute of Cost and Works Accountants of India.
While in most of the countries across the world, the Cost Accountants are called Cost & Management Accountant (CMA), the name change was again pondered upon to shift from ICWAI to ICMAI. Finally, the name of the governing body became ICAI and the focus of this course changed from cost and work accounting to management accounting.
CMA India is a highly prestigious course that unlocks the avenues of higher designation white-collar jobs in the major corporate firms and government sector as well. The CMA India professionals can also find absorption in the recent entrants on the employment scene – the PPP firms.
In the following post, we are going to share how to clear the CMA India Foundation exam. So, if you are planning to prepare for the exam read on and make sure you follow the pointers to give the exam your best shot. Let us begin with a basic introduction!
CMA India Foundation Course – Introduction
The CMA course has three stages:
- CMA Foundation
- CMA Intermediate
- CMA Final
The CMA Foundation comprises the following four papers:
- Fundamentals of Economics and Management
- Fundamentals of Accounting
- Fundamentals of Laws and Ethics
- Fundamentals of Business Mathematics & Statistics
Hence, the CMA Foundation focuses on equipping the students with the basics of the entire course.
Now, let us move on to the next section, where we share some pointers to prepare for the CMA India exam.
How to Prepare for CMA India Foundation Exam?
Understand the Stakes of the Competition and prepare accordingly
The CMA India exam is taken by thousands of students and offers very few seats in comparison. Hence, you should prepare for the exam accordingly. Steer clear of the books and questions and the study material that is not of the level of the exam. It is important to understand that though the exam will consist of questions from the same subjects, the level of questions will vary greatly. Further, opt for a reputed coaching institute that offers a CMA India Foundation course in Kerala so that you are on the right track right from the start. The teachers will help you identify your strengths and weaknesses and the study material will be exactly exam-oriented.
Step-by-Step Learning and preparation
Always remember that just like a kid cannot learn to write and read in one day or 10 days or even a month, the exam preparation for CMA India Foundation cannot be done in few days or one month. Don’t get notions of getting some crash course for qualifying the exam. The preparation spans over a few months, at least 6 months, or even one year in some cases. Learn new concepts and topics from every subject daily and practice the questions on that topic on that day itself.
Each Subject is Important
Some students make the mistake of making one subject their favourite and prepare only that subject. Though an inclination towards one subject is not bad; ignoring the other subjects can lead to failure. Give equal time to all the subjects and revise them regularly as well.
Always remember that the final result is calculated on the basis of your performance in each subject.
Keep a RECORD
This is one such step that will actually boost you mentally that you are prepared for any exam. Keep a diary with a different section for each subject. Write down the topic that you have prepared today with the date against its name. Write only after you have covered a topic completely and no doubts or questions are left. With passing time, the diary will populate and motivate you to stay positive and assured.
WallPaper your room
Write down the name reactions, facts, formulas and other tricks for remembering and learning on the wallpaper and paste that on the walls of your room. Revise them daily while going to the bed and when you wake up in the morning. This way, the formulas, and shortcuts etc will be easier to learn and you can revise them daily. You can memorize them easily and stay away from all kinds of confusion on the last day.
Don’t Fall into the clutches of Average Coaching Centres
There are loads of coaching centres that claim to be the best CMA India Foundation Centres and have very less fees. Don’t get lured by such offers and choose the best preparation partner for a breakthrough performance. Check their past records and choose the one with the highest passing rate.
Stress is a Devil
The only thing except for the lack of preparation that can harm your exam performance is the stress. Stress can make you attempt blunders and even affects the marking of answers. Hence, keep it at bay.
Finally, take the online mock tests and solve the practice papers and previous year papers as well. This helps you prepare for the exam in a comprehensive manner and you can also learn whether you are prepared for the exam or not. This brings us to the completion of our discussion. We hope all our readers find the information shared here beneficial.