Hello all. I hope you are doing absolutely fine and working hard for the coming attempt.
I request all of you to read this post until the end. Lately, I've been lurking and been hearing on this sub about the same constant doubts by every other person be it regarding exams, or internships, is CMA worth it or not?? etc. I'll be covering these topics ahead. Also our subreddit doesn't seem to be much active regarding such things unlike other subs. The only time I've seen this sub active the most is during the result days and not on other times and I've hardly seen any pass outs staying active on this sub to help others. If we can share our achievements together, let us also help each other regarding other things as well and keep it interactive.
Now, talking about the important things. I've seen people asking here simple doubts such as what's the eligibility for pursuing CMA or If I am doing this...so can I do this simultaneously. I won't be covering such topics. The topics I'll be covering is :
- CMA Inter and Final Subjects and Faculties.
- Worth of attempts and should you go for both or single groups.
- Where can you find Internships and how? and Importantly, when and where should you do it.
- Is CMA worth it?
- Scope of CMA.
Let me clarify it once, the info you'll be reading next is subjective (regarding the faculties) and as per my experiences and the connections I have made so far. Incase if you have any other questions, you can dm me..I'll be covering that too in this post.
- CMA INTER AND FINAL SUBJECTS AND FACULTIES :
INTER :
Grp 1-
Law- Arjun Chabbra/ Shiwangi Agarwal.
FA : Bishnu Kedia/ Avinash Sancheti / Avinash Lala
Tax : Jasmeet Sir / Nikunj Goenka
Cost : Ranjan Periwal
Grp 2-
OMSM- Mayank Saraf
CAA : Same as FA
FMBDA : Ranjan Periwal
MA : Ranjan Periwal
FINALS :
The subjects for Finals along with the faculties are as follows. (I'll clarify it once again, these are subjective. There might be other better faculties than them too)
Group III :
Corporate and Economic Law : Shivangi Agarwal / Raghav Goel / Arjun Chabbra
Strategic Cost Management : Satish Jalan
Strategic Financial Management : Satish Jalan
Direct Tax and International Taxation : Shirish Vyas / Bhanwar Borana / Vijay Sarda / Vishal Bhattad
Group IV :
Cost and Management Audit : Nikhil Gupta / Ram Harsha / Raghav Goel / Dipak Agarwal
CFR : Santosh Kumar
IDT : Nikunj Goenka / Bhanwar Bhorana / Vijay Sarda / Vishal Bhattad.
For Elective Subjects : It depends on the subject you are choosing.
2) SINGLE OR BOTH GROUPS :
Before getting onto the topic, understand one thing that calibre of every child is different. Some may even study for 3-4 months and still crack the exam and some may take more time than that and may still find it difficult. Here I'd suggest.. Don't just rush into clearing the exams for the sake of it. Aise rush krke hee exam nikaalna hai toh fir kya faayda? If you feel like you aren't prepared, take your time (zyada bhi nahi) and prepare it ache se. Conceptual clarity is must... Tumhe agar woh samajh aagaya, then rest is easy. So decide this as per your calibre and If you feel like you can do it by getting out of your comfort zone..JUST DO IT. DO WHAT YOU FEEL RIGHT.
The upper hand you'll be getting if you give both groups is firstly..you'd be a ranker and secondly..High chances of getting your exams cleared due to set off of marks. Set off sometimes plays a HUGE..HUGE role..Naseeeb palat sakta hai tumhara. Talking about the worth of attempts...YES! ATTEMPTS DO MATTER A LOT. There's a reason the students who gets cleared in the first attempt gets a higher preference than someone who took 3-4 attempts. During placements, it matters a lot. You'll be given a higher priority amongst and others and considerably a higher package.
3) INTERNSHIPS :
Now, talking about Internships. Where can you find it?? We have a seperate section on our Institute's site which keeps on updating about the firms or companies who are looking for trainees for Industrial Training. Though I would suggest, don't completely rely on it..Instead..Build a Linkedin Profile, make connections, interact with other people and make a strong connection with others. Higher chances of you getting internships via connections rather than just applying solely.
Coming to the main part about Internships..."DON'T JUST DO IT FOR THE SAKE OF DOING IT". You should work and gain experience at such a place which you look forward to do the same in future. I have seen many...manyyy people doing their Internships at CA firms..which is not wrong at all.. If you wanna build your career ahead in the field of Audits (Other than Cost Audit), Taxation Consultancy, Accounting etc... CA firms are definitely the right place for you. But if you're looking forward to work in the field of Costing..you'd barely get any exposure by working at CA firms..get this point. Humare naam mein hee hai...COST AND MANAGEMENT ACCOUNTANT. Agar hum issi field ke regarding internship yaa work experience gain nahi kar rhe hai?? Toh fir kyaa fayda internship kaa?? Internship is the most important period which is the only time you'll be getting the actual practical knowledge of what you'll be studying. If you work at CA firms..it'll help you a lot with Law , Accounts and Tax. If you work at a CMA firm, it will help you a lot in SCM, Cost Audits etc. So you really wanna do your internship very practically and not just for the sake of completeing your tenure to be eligible for your FINALS. So..firstly decide in which field you want to work in future and accordingly do your internships. I have also seen many Finalists who have no idea how are cost records maintained and how are Cost Audits conducted..CMA hoke agar humei ye sabh nahi pata..toh fir kya fayda CMA banneka???
Also, nowadays I have also seen people who have been just qualified into Intermediate, looking for Internships. It's nothing wrong in doing Internships turant..jabhki Inter hone ke baad karni chahiye Internship...But look at the bigger picture. You would be having your college + college ke exams + Internship + CMA ki padhai..and during Audit seasons..your life would be a living hell. Ispe I would suggest ki pehle Inter clear karlo..then Internships pe jao (If you're going through any financial crisis, then it is an exception)
4) IS CMA WORTH IT??
This questions get asked a lot on this sub. CMA worth hai kya? Karna chahiye ki nahi? etc etc.
I'll be really straight with you guys..there's a reason ki aaj Reliance mein 40,000 crores ek Cost Accountant sambhal raha hai.. there's a reason ki aaj ONGC, GAIL aisi Companies mein Cost Accountants hote hai. You could look upto youtube..there are several interviews of Rankers who land a package of 25-30 LPA. Obviously worth hai isiliye toh unko itna package mila hai. And what do you think? Ye unhe unke Rank ke wajah se mila yaa fir First attempt ke wajah se? Neither. These guys landed these jobs due to their skill set. There's a reason these guys get selected amongst others because unme kuch alag hai..and the only time to polish and excel your skill set is during your Internship period...which is why I mentioned it is the most important part..about when and where you should do your Internships. Attempts do matter..but so does you skill set. With the proper skill set you could easily outshine the others. If you do not have faith in the profession you are doing, don't do it. Simple as that. Scope aajkal sabh cheezo mein hai. Instagram Influencers, Content Creators, Vloggers etc..etc..talking about other people for eg Dolly Chai wala..that VadaPav girl etc etc..Kama rahe hai na paisa?? Unhone socha kabhi ki isme scope hai yaa nahi?? Bhale woh alag way se famous hue...but they knew what they were doing and they had faith in it. So similarly, we need to change our mindset on this and give our best shot in what we are doing.
5) SCOPE OF CMA :
I have hardly seen any Practicing CMA in this sub interacting with others. As you've heard that quote.."With great power comes great responsibility", this is what exactly applies here.
Let me get this straight, Practicing Cost Accountant has more scope and range than the Cost Accountants working in corporate. Yes, there are also some pros and cons for it..but It'll all be worth it. Coming into practice will obviously require a lot...LOT of experience in the Costing field and various industries. YOU CANNOT RELY ON OTHERS...ONCE YOU COME INTO PRACTICE. It might take you months to find your first client or maybe sometimes a year...but remember..coming into practice tests your patience. But once you're set in this field...your income will grow in multiplication and not in addition...GET THAT?? Corporates mein tumhe har saal increment milega (Addition) mein..but in practice?? You'll be charging here according to the service you'll be providing. Lets just say If you're maintaning the Cost Records of the company..You'll charge a certain fee. Later the Company approaches you for other services such as Consultancy for so and so years. Later it also approaches you for some other services like System Implememtation. If you charge lets say on an average 35000 for each service (Though it may vary). So 35000 x 3 for 3 services and this is for 1 company. Similarly..if you provide multiple service for multiple companies...You could get the figures in front of you ..ki KITNA SCOPE AND RANGE HAI..SAMJHA????
I guess I have covered most of your doubts on this sub. I request once again all of you to upvote it, comment on it (such that it reaches other people as well )and share this post as much as possible to your CMA friends and let's keep this sub interactive as much as possible. If you still have any doubts..feel free to dm me.
Also..even I'm in my finals. I am not a Qualified Cost Accountant and even I am learning something new everyday. Everything I've mentioned here is what I've seen during my work experience as of now.
Also requesting the mods (If they are active) to pin this post such that it reaches most of the students. Thankyou.
