CMA Membership - ACMA & FCMA
To become an Associate Member (ACMA — Associate of the Institute of Cost Accountants of India), a person must:
1. Pass the CMA Final Examination of ICMAI
2. Acquire at least 3 years practical experience in costing/industrial accounting
Types of accepted experience (minimum 3 years each):
- Experience in Banking, Insurance, Financial Institutions (project analysis, financial profitability)
- Experience in Universities/Management Institutions in costing/management functions
- Experience on full-time basis with a practising Cost Accountant
- Experience with engineering bias (system analysis, project study, inventory control)
- Teaching experience for Degree/PG courses in Costing/Management Accounting (full-time)
- Experience in CA/CS firms approved w.e.f. 1st April 2024
- Part-time experience with any organisation (minimum 5 years)
Note: Articleship under CA/CS Regulations is NOT recognized for ACMA membership.
Fees for Associate Membership (ACMA):
- Entrance Fee: ₹1,000 (+ applicable GST)
- Annual Subscription: ₹1,000 (+ applicable GST)
Both fees are payable at the time of application. If the application is not accepted, the fee is refunded after a 10% deduction towards establishment and processing costs.
ACMA (Associate Member): A person who has passed CMA Final and has 3 years of practical experience is eligible for Associate Membership. They can use "ACMA" after their name and describe themselves as "Associate Member of the Institute of Cost Accountants of India."
FCMA (Fellow Member): An Associate Member can advance to Fellow Membership after:
- Continuous practice in India as a Cost Accountant for at least 5 years, OR
- Holding position as Chief Cost Accountant (or equivalent) for at least 5 years, OR
- Government Service (non-PSU) for at least 5 years, OR
- Employment at Costing Officer/Accounts Officer rank for 5 years, OR
- Teaching experience as Lecturer/Associate Professor/Professor for 5 years
FCMA members use "FCMA" after their name.
FCMA fees: Entrance ₹1,000 + Annual subscription ₹1,500 (+ applicable GST).
A CMA member (ACMA or FCMA) can apply to ICMAI for a Certificate of Practice to practise as a Cost Accountant throughout India.
Fee: ₹2,000 (+ applicable GST) payable at time of application.
The Certificate must be renewed annually by paying ₹2,000 which becomes due on 1st April each year (via Form M-3).
CPE (Continuing Professional Education) requirements for practising members:
- Below age 65: Minimum 30 hours per year (20 hours structured online + 10 hours other)
- Above age 65: Minimum 15 hours per year (10 hours structured online + 5 hours other)
- Minimum mandatory training: 50 hours in 3 years period
