Starting Your CMA Practical Training: Guidelines and Requirements

Have you cleared the CMA Foundation exams and are eager to progress to your practical training? Let's delve into the requirements and procedures for starting your practical training under the new CMA training scheme.

Overview of CMA Practical Training Requirements

Under the revised CMA training scheme, you can indeed begin your practical training immediately after clearing the Foundation level exams. This critical step sets the foundation for your comprehensive and practical understanding of cost and management accounting. The practical training is mandatory and spans a period of 15 months. Once you have successfully completed the Foundation exams, you are eligible to commence this vital training phase.

What You Need to Do Next

To proceed with your practical training, follow these steps:

Register for CMA Intermediate: After clearing the Foundation level, enroll in the Intermediate course. Find a Practicing Cost Accountant or Approved Corporate: Identify a practicing Cost Accountant or an approved corporate entity where you can fulfill your practical training requirements. Make sure to check the specific organizations and areas specified in 'Appendix A' and 'Appendix B'. Submit Your Training Registration Form: Fill out the training registration form, which requires your Intermediate registration number. Ensure all details are accurate and complete. Satisfy Council Requirements: The final examination can only be attempted after completing the required 15 months of practical training. The Council will formally recognize your training upon satisfactory completion. Udin and Form T-5: A UDIN (Unique Deactivation Identification Number) is mandatory wherever applicable. Ensure you possess this number, as it is required for recognition.

Eligibility and Timeline

There are specific timelines and eligibility criteria to consider:

Cut-Off Dates: The cut-off date for certification of Form T-5 is 31st August for the December examination, indicating the completion of at least 10 months of training. Intermediate Registration: All students registered for the Intermediate course on or after 11th February 2020 must fulfill the 15-month practical training requirement before the final exam date.

While the practical training is a mandatory component, you may also have the flexibility to complete some portions of it before sitting for the final exam. This can help solidify your understanding and prepare you more effectively.

Conclusion

Starting your CMA practical training right after clearing the Foundation exam is a key step towards gaining hands-on experience in the field. Adherence to the guidelines and requirements set by the Institute of Cost Accountants of India (ICAI) is essential to ensure a smooth and successful journey through the CMA program.

Good luck on your path to becoming a certified cost and management accountant!