What is CIMA Course Fees in India- Eligibility, Syllabus, Salary

Admin 29 Dec, 20239.1k

Before exploring the CIMA course fees in India, let's take a brief look at The Chartered Institute of Management Accountants (CIMA). CIMA is a prestigious global professional body for Management Accounting, headquartered in the United Kingdom. Its primary objective is to offer continuous support and guidance to its members throughout their careers.

The Chartered Institute of Management Accountants (CIMA) boasts an impressive membership of around 250,000 professionals spread across approximately 180 countries. Moreover, this esteemed body has formed partnerships with over 4,500 companies worldwide. To extend its global reach, CIMA has successfully established offices in more than 173 countries.

CIMA offers its candidates the flexibility to learn at their own pace while managing their other commitments, ensuring an optimal learning experience. Moreover, due to its collaboration with CPA Australia, CIMA members can also obtain favourable immigration status abroad, enhancing their international career prospects. Additionally, the CIMA course fees in India are reasonably priced, making it an even more attractive choice for aspiring management accountants.

CIMA eligibility in India

To become a CIMA aspirant in India, candidates must meet certain eligibility criteria, and the standards for qualification are quite flexible. The eligibility conditions are as follows:

Successful completion of matriculation exams.
Completion of high school education.
Possession of a bachelor's degree in any field.
Holding an MBA degree (which can expedite the enrollment process).
Pursuing or having pursued any other professional degree.

Enrolling in the CIMA course in India does not follow a rigid process. Aspiring candidates are required to visit the institutes and complete the application forms for registration. Once successfully registered, candidates will receive guidance from qualified teachers throughout the course.

During the registration process, candidates must provide essential documents, including a passport-sized photograph and valid ID proof, such as an Aadhar card. Meeting the CIMA eligibility criteria in India is crucial for candidates who wish to take the exam.

By fulfilling these requirements, candidates can ensure they are well-prepared to pursue the CIMA qualification and embark on a successful career in the field of management accounting.

CIMA Course fees in India

After the CIMA eligibility in India is met, the individual will have to pay the CIMA course fees in four categories while enrolling. There are one-time registration fees for the students enrolling in the course for the first time.

The registration fees include the subscription fees for the first year. The yearly cycle of subscription at the CIMA is from 1st January to 31st December. The candidate must pay the CIMA courses yearly subscription fees by the due date of 1st January every year.

To appear for the examination, the candidate must pay a fee. If the individual has any exemptions, they will have to pay the exemption fees per paper. Usually, it amounts up to 2-4 lakhs, including the examination fees, the registration fees, and the training fees together. However, the cost also depends on the kind of qualification the candidate possesses.

CIMA Course Details in India:

Now after paying the CIMA course fees in India, you need to understand the CIMA course syllabus. The pattern of the CIMA course syllabus is divided into four levels:

The Certificate Level (in accounting)
The Operational Level
The Management Level
The Strategic Level

Every level deals with different subject courses and fundamentals. The pattern of the CIMA course under these four levels is as follows:

In the Certificate level (Accounting), you need to study fundamentals of Management and Financial Accounting, Fundamentals of Business Economics, Fundamentals of Law, Corporate Governance, and Ethics.

At the Operation Level, the subjects include Management Accounting, Organisational Management, and Management Accounting.

At the Managerial Level, you need to study subjects like Advanced Financial Reporting, Advanced Management Accounting, and Project & Relationship Management.

At the Strategic Level, you need to study Strategic Management, Risk Management, and Financial Strategies.

Twelve examinations are conducted at these four levels:

At the Certificate level, four exams are conducted by the body that are entirely objective-based. Once you clear the examination, you will receive a certificate in Business Accounting from the CIMA.

At the Operational level, three objective-based tests are held, and you are expected to solve one intense case study. Once you clear this set of examinations, you get a diploma in Management Accounting.

At the Management level, you must also appear for three objective-based exams and sit for one intense case study examination. After clearing this, you will be awarded an advanced diploma in Management Accounting from the CIMA. The same is the pattern of examination followed at the Strategic level as well.

For objective type exams, you'll have 90 minutes to complete your exams. For the case study, you'll be given three hours. The case study exams are conducted four times a year: in February, May, August, and November. If you appear for both the objective-based examination and the case study exams, you'll receive your results immediately. The results will be declared exactly one month after the exam date.

CIMA Job Roles and Salary

If you possess a CIMA degree, you can work in different industries like the banking sector, audit firms, finance departments, etc.

Even multinational companies look forward to hiring a certified candidate with the CIMA. The ones who qualify can choose from among any of these job profiles like Management Accountant and Consultant, Forensics Accountant, Project Manager, Business Analyst, etc.

In the beginning, the individual can expect to get an average salary of about 4 -12 lakhs. However, the salary an individual will receive will depend on many considerations like the nature and size of the firm, the role an individual is entitled to play, and other such factors.

Some examples of the companies that hire CIMA candidates are EY, KPMG, PwC, Deloitte, Kellogs, Pepsi, Coca-Cola, Vodafone, Airbus, Cisco, HSBC, Nestle, Telco, Deutsche Bank, Accenture, and Unilever, Capgemini, etc.

Frequently Asked Questions

1. What is the cost of doing CIMA in India?

A course in CIMA may cost around 2-3 lakhs including the tuition and exam fees.

2.Can I do CIMA after the 12th?

Yes, of course, you can do CIMA after doing your 12th standard too.

3.Who earns more CIMA or ACCA?

The ACCA start with an average salary of 19,300 p.a up to 30,700 p.a. On the other hand, CIMA qualified professionals earn an average salary of 62,000, increasing to 129,000 at senior levels.

4.What is CIMA called now?

It is known as the Chartered Management Global Accountant - CGMA.

Conclusion

CIMA is an excellent course in the field of finance. One must not worry about CIMA eligibility or the CIMA course fees in India but instead focus on the return on investment, great job opportunities, and high salary.

If you need any more information on CIMA, then you can connect with us at NorthStar Academy. And mentors like Mr. M Irfat (CA,CMA USA,CPA & CIMA UK). Hes the World second ranker for CIMA Final Essay exam. You can connect with sir on LinkedIn and get to know more about how CIMA can be useful.

Contact NorthStar Academy for any further queries or guidance. We look forward to speaking with you soon!