Exemption for CMA & ACCA Members while doing both CMA & ACCA Courses

ICMAI / ICAI-cost Exemption for CMA & ACCA Members : The Institute of Cost Accountants of India has released a notification regarding Reciprocal Exemption between ICAI-CMA (India) and ACCA Members as per MoU. In this notification, ICMAI has mentioned details about exemptions for ACCA-UK Members for pursuing CMA Course under Syllabus 2016 and Exemption for CMA members pursuing ACCA as per MOU of the Institute with ACCA-UK.

Also Read : Procedure for obtain ICMAI CMA duplicate Mark Sheet / duplicate Certificate / Transcript

Exemption for CMA & ACCA Members while doing CMA & ACCA Courses

Subject : Reciprocal Exemption between ICAI-CMA and ACCA Members as per MoU.

Notified for general information Qualification related reciprocal exemption offered to ACCA-UK Members for pursuing the CMA Course under Syllabus 2016 and exemption for CMA members pursuing ACCA as per Addendum to Memorandum of Understanding dated 23rd October, 2018.

Application for exemption to be made to Directorate of Studies, HQ, as per operational modalities (Anneuxre I).

Also Read :

• Clarification for qualification based subject exemptions granted under syllabus 2012, opting for syllabus 2016
• Exemptions for Engineering Graduates/Engineers pursuing CMA course under syllabus, 2016.
• Exemptions for qualified LLBs pursuing CMA course under syllabus, 2016.

ACCA & CMA Syllabus 2016 – Papers List (at a glance)

For ACCA-UK Members for pursuing CMA Course under Syllabus 2016

CMA Foundation : CMA Foundation Course (four papers) is fully exempted.

CMA Intermediate : Exempted from appearing in the following six papers (6) at the CMA Intermediate Course under syllabus 2016:

• Paper 5- Financial Accounting (FAC)
• Paper 6- Law A Ethics (LNE)
• Paper 8- Cost Accounting (CAC)
• Paper 9- Operations Management and Strategic Management (OMSM)
• Paper 10- Cost A Management Accounting and Financial Management (CMFM)
• Paper 12- Company Accounts and Audit (CAA)

CMA Final : Exempted from appearing in the following four papers (4) at the CMA Final Course under syllabus 2016:

• Paper 14- Strategic Financial Management (SFM)
• Paper 15- Strategic Cost Management -Decision Making (SCMD)
• Paper 17- Corporate Financial Reporting (CFR)
• Paper 20- Strategic Performance Management and Business Valuation (SPEW)

Computer Training & CSST : Exemption from undergoing 100-hours Compulsory Computer Training, Communication and Soft Skill Training in Intermediate Course & IOTP Training A Practical Training in Final Course for ACCA Members

Exemption for CMA members pursuing ACCA

1. Associate/Fellow member with five years of work experience will get 9 exemptions.
2. Associate member with less than 5 years of work experience will get 7 exemptions.

For further details, please refer to website of ACCA-UK link.

Annexure I- ACCA CMA Exemption Mapping ( as per addendum MOU)

Operational Modalities for ACCAs Members to pursue CMA Course:

1. Registration to the Intermediate Course directly ( as ACCAs members as per addendum MOU would
   be exempted from Foundation Course.

2. Intermediate Course Fee: Rs. 20,000/- (Rupees Twenty Thousand only) [selecting either Oral or
   Postal Mode of Coaching], All registrations are to be made through “on-line admission” only. [On-line
   Admission: https:/cmaicmai.in/students/Home.aspx], Regarding changes of Intermediate course fees
   as per laid down in the prospectus from time to time.

3. Final Course Fee: Rs. 17,000/- (Rupees Seventeen Thousand only) [selecting either Oral or Postal
   Mode of Coaching], All registrations are to be made through “on-line admission” only. [On-line
   Admission: https:/cmaicmai.in/students/Home.aspx], Regarding changes of Final course fees as per
   laid down in the prospectus from time to time.

4. Qualification-based subject exemption fee for 14 (fourteen) papers is Rs. 25,000/- (Rupees Twenty
   Five Thousand only) to be paid at the time of applying for subject exemption during Intermediate
   Course.

5. ACCA Members pursuing CMA Course ( as per this addendum MOU) would be eligible for availing
   exemption from undergoing 100-hours Computer Training Course and Communication & Soft Skills
   Training at the Intermediate Level.

6. CMA students (with ACCA Membership, availing benefits of this MoU) pursuant to enrolment to the
   Final Course shall also be exempted from undergoing IOTP Training & Practical Training.

7. There shall be no refund, if any, for availing exemptions from undergoing the prescribed trainings at
   Intermediate & Final Level.

How to claim the CMA & ACCA Exemptions

The granting of Reciprocal Exemption between ICAI-CMA and ACCA Members is not automatic, and you will have to apply to ACCA and ICAI-CMA(India) for it.

The application letter that you will send should be accompanied by copies of the official documents like CMA Course certificates, CMA mark sheets or transcripts that has been sent to you by IMA. Online certificates are not accepted, and only copies of original physical certificates must be sent. These documents need to be written in English, and the copies need to be properly signed and stamped by IMA, otherwise, they will get rejected.

Also Read : Clarification on Conversion to Syllabus 2016 and Corresponding exemptions

Still having any issues regarding Exemption for CMA & ACCA Members while doing CMA & ACCA Courses, you can ask us through our Ask & Answer Forum. Follow the above mentioned procedure to obtain Exemption for CMA & ACCA Members while doing both CMA & ACCA Courses.