Accountancy and commerce are one of the most sought after professionalstreams in India. Chartered Accountancy is one of the most difficult yet lucrative career pathsan aspiring accounts student can aim for. Each year, thousands of candidates apply for the ICMAI exam to be able to move ahead in the field of accounts and cost management.
Previously known as the Institute of Cost and Work Accountants India, the ICMAI is an exam conducting body or organisation which has a goal of regulation and the promotion of the profession of cost accounting in India.
Under the ICAI, there are a total of 3 exams that are held:
- The ICMAI Foundation Exam
- The ICMAI Intermediate Exam
- The ICMAI Final Exam.
Each paper is of a descriptive type having total marks of 100. The time allotted for each exam is a total of 3 hours
Preparing for the IM+CMAI exam can be a daunting task. Especially when the syllabus is as complex as it is. Getting a hold of the study material required to ace the ICMAI exam can be difficult but once acquired and with a little bit of effort, applying candidates can get the desired score.
To be better prepared, candidates must have the proper study material and know the paper pattern so that they may be ready for any question.
Books regarding the topic covered in the exam can be found easily from online forums and also retail bookstores which help provide a comprehensive study of the matter that will be covered in the exam.
Here, the applying candidate can find the recurring paper patterns and topics that will be covered in the subsequent exams. Apart from those, candidates can also get extra information like the fees structure, eligibility criteria and the names of the cities in which the ICMAI exam will be held.
Students can also sign up to shiksha.com and get access to free downloadable study guide which can give them important insights and recommendations of books which can prove highly beneficial during the ICAMI exam.
When preparing for the ICMAI, it is advised to start preparing at least three months in advance. By going through the institute study material and practise papers well enough, one should easily be ready to give the ICMAI exam.
A major point when studying for the ICMAI exam is to try and understand the core concept and application of the topics each past covers. Rather than reading through and memorising the topics will not help you fetch a decent score.
Most students make the mistake of only using the past papers as a source of practice .by considering and using the previous 8 – 10 years’ worth of paper of ICMAI as study material; students can get a better feel and grip of what they need to do and focus on.
Most things that have been learnt 15 or more day before the exam tend to be forgotten. It is important to constantly make notes and references so that during the few days before the exam candidate can go over topics and restive them to keep it fresh in memory during the exam.
The ICMAI exam is a way for students in the accounts stream to be able to make a career out of the subject. Clearing the ICMAI exam will help push the candidate to realise this goal and have a better grasp of theirrequirements when they finally step into the world of cost man agent and accounting.
Check out the information related to placements, courses, fees, admissions, rankings, eligibility and reviews for accounting colleges in India at https://www.shiksha.com/accounting-commerce/accounting/colleges/colleges-india