- The Institute of Cost and Works Accountants of India was renamed The Institute of Cost Accountants of India (ICMAI) in 2012, and the governing statute itself was retitled the Cost Accountants Act, 1959 with effect from 10 May 2022
- The CMA course now runs on Syllabus 2022, not the old Syllabus 2016
- The June 2026 Foundation exam is on 14 June 2026 and the Intermediate and Final exams run from 11 to 18 June 2026.
ICMAI is the statutory body that regulates the cost and management accountancy profession in India and awards the Cost and Management Accountant (CMA) qualification. This guide covers the institute's legal status, the current Syllabus 2022 course structure, official fees, the 2026 examination calendar, practical training rules and membership routes, with every figure taken from the institute's own published documents.
What Is ICMAI and Who Regulates It?
ICMAI is the Institute of Cost Accountants of India, a statutory body created by the Cost Accountants Act, 1959 and working under the Ministry of Corporate Affairs. Registered in Calcutta in 1944 and given statutory status on 28 May 1959, it regulates cost and management accountancy across India today.
The institute was first registered as a company in Calcutta in 1944. Parliament then passed Act No. 23 of 1959, which received assent on 19 May 1959 and came into force on 28 May 1959, converting the body into a statutory professional institute. The Act was originally titled the Cost and Works Accountants Act, 1959; it was retitled the Cost Accountants Act, 1959 by Act 12 of 2022 with effect from 10 May 2022.
A parliamentary amendment in 2012 changed the institute's own name from The Institute of Cost and Works Accountants of India to The Institute of Cost Accountants of India, aligning it with global management accounting bodies. Under section 7 of the Act, members are known as cost accountants.
- Statutory basis: Cost Accountants Act, 1959 (Act No. 23 of 1959)
- Administrative control: Ministry of Corporate Affairs, Government of India
- Headquarters: Delhi (shifted from Kolkata by notification dated 26 April 2025)
- Network: four regional councils at Delhi, Kolkata, Mumbai and Chennai, 112 chapters and 11 overseas centres
- Scale: around 600,000 students and over 100,000 qualified professionals
Because cost audit under section 148 of the Companies Act, 2013 can only be conducted by a cost accountant, ICMAI membership is the gateway to statutory cost audit work in India.
What Is the CMA Course Structure Under Syllabus 2022?
The CMA qualification has three levels under Syllabus 2022. Foundation carries four papers worth 400 marks, Intermediate has eight papers worth 800 marks split across two groups, and Final has seven mandatory papers plus one elective chosen from three options. Syllabus 2016 is no longer the operative curriculum.
Syllabus 2022 replaced the Syllabus 2016 structure that older guides still describe. All current study material, model question papers and examinations are set on Syllabus 2022.
Foundation papers
- Paper 1: Fundamentals of Business Laws and Business Communication
- Paper 2: Fundamentals of Financial and Cost Accounting
- Paper 3: Fundamentals of Business Mathematics and Statistics
- Paper 4: Fundamentals of Business Economics and Management
Each Foundation paper carries 100 marks made up of 50 multiple-choice questions of two marks each, and there is no negative marking.
Intermediate papers
- Group I: Business Laws and Ethics (P-05), Financial Accounting (P-06), Direct and Indirect Taxation (P-07), Cost Accounting (P-08)
- Group II: Operations Management and Strategic Management (P-09), Corporate Accounting and Auditing (P-10), Financial Management and Business Data Analytics (P-11), Management Accounting (P-12)
Final papers
- Group III: Corporate and Economic Laws (P-13), Strategic Financial Management (P-14), Direct Tax Laws and International Taxation (P-15), Strategic Cost Management (P-16)
- Group IV: Cost and Management Audit (P-17), Corporate Financial Reporting (P-18), Indirect Tax Laws and Practice (P-19), plus one elective
- Electives (choose one): Strategic Performance Management and Business Valuation (P-20A), Risk Management in Banking and Insurance (P-20B), Entrepreneurship and Start Up (P-20C)
Who Is Eligible to Register for the CMA Course?
Foundation registration needs a pass in Class 10 or equivalent, though the Foundation examination itself can only be attempted after Class 12. Intermediate needs 10+2 plus the Foundation Course, or a graduate degree in most disciplines, or completion of the second year of an engineering programme. Final follows Intermediate.
The institute allows provisional admission at Foundation level with 36 months to convert to regular status, and provisional Intermediate registration for candidates awaiting degree results with 18 months to convert.
- Foundation: passed Class 10 or equivalent from a recognised board or institution
- Intermediate: 10+2 and the ICMAI Foundation Course, or CAT Foundation Part I, or a degree in any subject other than music, dancing, photography, painting or sculpture, or the second year of an engineering course
- Exemptions: candidates who have passed the ICSI Foundation examination or the ICAI Intermediate examination may be exempted from the CMA Foundation
- Admission cut-off: apply by 31 January for the June term and by 31 July for the December term
How Much Does the CMA Course Cost in 2026?
Course fees published by the institute are 6,000 rupees for Foundation, 23,100 rupees for Intermediate and 25,000 rupees for Final, plus 250 rupees for the prospectus. Examination fees are separate: 1,500 rupees for Foundation, 1,500 or 2,800 rupees for Intermediate, and 1,800 or 3,200 rupees for Final.
The figures below are taken from the fee structure in the institute's own CMA Prospectus for Syllabus 2022 and its June 2026 examination time tables, not from third-party aggregators.
| Item (2026) | Foundation | Intermediate | Final |
|---|---|---|---|
| Course fee (inland) | Rs 6,000 | Rs 23,100 | Rs 25,000 |
| Course fee (overseas) | US $250 | US $1,100 | US $800 |
| Examination fee, one group | Rs 1,500 | Rs 1,500 | Rs 1,800 |
| Examination fee, both groups | Not applicable | Rs 2,800 | Rs 3,200 |
| De novo registration fee | Not applicable | Rs 5,000 | Rs 5,000 |
| Subject exemption fee per paper (qualified CS) | Not applicable | Rs 1,000 | Rs 1,000 |
A late fee of 500 rupees applies to examination application forms submitted after the normal cut-off date. Overseas candidates pay examination fees of US $100 for a single group and US $150 for both groups.
ACCA Course: Structure, Fees and ExemptionsRead →When Are the ICMAI CMA Exams Held in 2026?
ICMAI holds CMA examinations twice a year, in June and December. For the June 2026 term the Foundation examination falls on Sunday 14 June 2026, while the Intermediate and Final examinations run from 11 to 18 June 2026 on alternate dates for each group, all centre-based and offline.
Final papers are held in the morning session from 10:00 to 13:00 IST and Intermediate papers in the afternoon session from 14:00 to 17:00 IST. The Foundation examination is conducted in multiple-choice mode on offline OMR sheets, with Papers 1 and 2 from 10:00 to 12:00 and Papers 3 and 4 from 14:00 to 16:00.
| June 2026 term milestone | Date |
|---|---|
| Intermediate and Final exam form, without late fee | 10 April 2026 |
| Intermediate and Final exam form, with late fee | 11 to 17 April 2026 |
| Foundation exam form, without late fee | 15 April 2026 |
| Foundation exam form, with late fee | 16 to 22 April 2026 |
| Intermediate and Final examinations | 11 to 18 June 2026 |
| Foundation examination | 14 June 2026 |
Examination application forms for Intermediate and Final must be filed online only, with payment through the payment gateway or the IDBI Bank pay-fee module. Only candidates opting for overseas centres apply offline with a demand draft.
How Do You Check ICMAI Results and Download the Admit Card?
Results and admit cards are published on the institute's examination portal at examicmai.in and on icmai.in. Candidates log in with the identification number issued at registration, select the relevant course and term, and then view or download the result or admit card as a PDF before the examination.
- Open the examination portal and choose the current term of examination.
- Select the level you have applied for: Foundation, Intermediate or Final.
- Log in using the identification or registration number issued by the institute.
- Open the result or admit card page and download the PDF.
- Print the admit card and carry it to the centre along with a photo identity document.
Detailed instructions for each examination are issued along with the admit card, and centre-specific clarifications are released by the Directorate of Studies before the term begins.
Accounting Standards in India ExplainedRead →What Practical Training Do CMA Students Have to Complete?
Every student registered for the Intermediate course on or after 11 February 2020 must complete 15 months of practical training under the New Practical Training Scheme 2020. The full 15 months must be finished before the Final examination result is declared, and at least 10 months before the relevant cut-off date.
Older guides that describe three years of practical training are quoting the superseded scheme. The current requirement is 15 months, served in an organisation listed in Appendix A of the scheme and in the work areas set out in Appendix B, with UDIN generation mandatory wherever applicable.
- Training may be served under a practising cost accountant or in industry from Intermediate level onwards
- For the June examination, Form T-5 requires at least 10 months of training completed as on 28 or 29 February
- For the December examination, Form T-5 requires at least 10 months of training completed as on 31 August
- Students registered for Intermediate before 11 February 2020 remain under the old training scheme
Which Certificate Courses Does ICMAI Offer Besides the CMA?
The institute runs short taxation and specialist certificate courses alongside the CMA. These include a 72-hour Certificate Course on GST, a 40-hour Advanced Certificate Course on GST, an 80-hour GST litigation management course, and 30-hour courses on TDS and income tax return filing, each assessed by a two-hour objective examination.
| ICMAI certificate course (2026) | Duration | Fee before GST |
|---|---|---|
| Certificate Course on GST | 72 hours | Rs 10,000 |
| Advanced Certificate Course on GST | 40 hours | Rs 14,000 |
| Advanced Certification in GST Litigation Management | 80 hours | Rs 15,000 |
| Certificate Course on TDS | 30 hours | Rs 10,000 |
| Certificate Course on Return Filing (Income Tax) | 30 hours | Rs 10,000 |
| Certificate Course in Income Tax Act, 2025 | 40 hours | Rs 10,000 |
| Certificate Course on International Trade | 50 hours | Rs 10,000 |
Every one of these courses is examined through 100 objective questions in two hours with a 50 per cent passing mark, and 18 per cent GST is charged on the course fee. Members receive a 20 per cent discount on several of them.
How Do You Become a Member of ICMAI?
Membership follows the Final examination. A candidate who passes the Final and completes the required practical training may apply for entry in the Register of members as an Associate. Associates who meet the further experience conditions in the Act can later be admitted as Fellows and may hold a certificate of practice.
The membership route is defined by sections 4 to 7 of the Cost Accountants Act, 1959. Only a member holding a certificate of practice may sign cost audit reports.
- Register for the CMA course and clear Foundation, Intermediate and Final examinations.
- Complete the 15 months of practical training required by the New Practical Training Scheme 2020.
- Apply for enrolment so that your name is entered in the Register of members as an Associate.
- Apply separately for a certificate of practice if you intend to practise as a cost accountant.
Note that the entrance and part fees quoted in United States dollars on many websites belong to the US Institute of Management Accountants CMA credential, which is a different qualification from the ICMAI CMA. ICMAI fees are the rupee figures published in its own course fee schedule.