Exemptions

EXEMPTION For Various Qualification

  • 1. Qualification-based RECIPROCAL EXEMPTION SCHEME under Syllabus 2012 between the Institute of Cost Accountants of India and the Institute of Company Secretaries of India
  • Exemption to ICSI passed candidates from papers of the Institute of Cost Accountants of India Exemption to the Institute of Cost Accountants of India passed candidates from papers of ICSI
    Foundation course Full exemption Foundation Program-Full exemption
    Intermediate course Executive Programme
    Group 1, Paper 7 : Direct Taxation Module 1, Paper 2: Cost and Management Accounting
    Group 1, Paper 8: Cost Accounting and Financial Management Module 1, Paper 4: Tax Laws and Practice
    Group 2, Paper 12: Company Accounts and Audit Module 2, Paper 5 : Company Accounts and Auditing Practices
    Final Course Professional Programme
    Group 3 Paper 13: Corporate Laws & Compliance Module 1, Paper 1: Advanced Company Law & Practice
    Group 3 Paper 14:Advanced Financial Management Module 2, Paper 5 : Financial, Treasury and Forex Management
    Group 3, Paper 16: Tax Management and Practice Module 3, Paper 7 : Advanced Tax Laws and Practice

    Further, the subject exemption fee for each paper is fixed at Rs.1,000/- (Rupees One Thousand only ).

    ICSI- qualification based exemption granted and availed under Syllabus 2008 now opts to pursue the Course under Syllabus 2012

    Any student pursuing the course of the Institute, to whom, subject exemption under Syllabus 2008 was granted on the basis of ICSI-Qualification, now desires to opt for pursuing the course under Syllabus 2012, shall be guided by the following procedure:

     

    ICSI- Qualification based exemption granted under Syllabus 2008

    ICSI- Qualification based exemption to be granted under Syllabus 2012

    Special Note

    INTERMEDIATE COURSE
    Paper 5 – Financial Accounting of Group I NO CORRESPONDING EXEMPTION AGAINST THIS PAPER Student Shall Have to appear in “Paper 5 - Financial Accounting”
    Paper 7 – Applied Direct Taxation of Group I Paper 7 – Direct Taxation of Group I  
      Paper 8 – Cost Accounting & Financial Management under Group I  
      Paper 12 – Company Accounts and Audit of Group II This is an additional benefits offered to a student as per ICAI-ICSI MoU - Reciprocal Exemption Scheme.
    However, the exemption is not granted suo-moto and hence, the student shall have to make an application to the Directorate of Studies, Headquarters, CMA Bhawan, 12, Sudder Street, alongwith the prescribed fee of Rs.1,000/- (Rupees One Thousand only), per subject drawn in favour of the Institute of Cost Accountants of India, payable at Kolkata. Upon receipt of the same, Directorate of Studies, would issue a revised letter granting exemption from appearing in the subjects as per MoU for this Intermediate Course.

    Note:
    Qualification-based exemption shall remain valid as was/is offered for that respective Syllabus only.

    Example: If a student to whom exemption in some specified papers under Syllabus 2008 were granted on the basis of ICSI-qualification, then such exemption shall remain valid and can only be availed under Syllabus 2008 .

    So, if these students until June 2015, being the last term of Examination, under “Syllabus 2008”, fails to qualify the respective course (say Intermediate or Final), then the benefit / exemption so granted, will not be offered further on the same subjects. However, the benefit would be offered only as per subjects in “Syllabus 2012”. Students are to follow the procedure prescribed/ to be prescribed by the Directorate of Studies, from time to time.

    ICSI- Qualification based exemption granted under Syllabus 2008

    ICSI- Qualification based exemption to be granted under Syllabus 2012

    Special Note

    FINAL COURSE
    Paper 12 – Financial Management & International Finance of Group III Paper 14 – Advanced Financial Management of Group III  
    Paper 14 – Indirect and Direct Tax Management of Group III Paper 16 – Tax Management & Practice of Group III  
      Paper 13 – Corporate Laws & Compliance of Group III This is the additional benefit offered to the student as per ICAI-ICSI MoU - Reciprocal Exemption Scheme. However, the exemption is not granted suo-moto and hence, the student shall have to make an application to the Directorate of Studies, Headquarters, CMA Bhawan, 12, Sudder Street, alongwith the prescribed fee of Rs.1,000/- (Rupees One Thousand only),[for this subject] drawn in favour of the Institute of Cost Accountants of India, payable at Kolkata. Upon receipt of the same, Directorate of Studies, would issue a revised letter granting exemption from appearing in the subjects as per MoU for this Final Course.

     

  • 2. For Engineering Graduates having completed 2nd year/IV Semester/equivalent or Graduate Engineers (qualified Engineering Final Examination)
  • Exempted from CMA Foundation Course

    Exemption from appearing in the following two papers at the Intermediate Course under Syllabus 2012:

    Paper 6 - - Laws, Ethics & Governance ( LEG)

    Paper 9 - Operations Management & Information System (OMIS)

     

  • 3. CIMA - UK qualified students are eligible to exemption in following papers under syllabus 2012.
  • Foundation- Complete exemption.

    Intermediate :

    Paper 5- Financial Accounting

    Paper 8-Cost Accounting and Financial Management

    Paper 9-Operations Management and Information Systems

    Paper 10- Cost and Management Accountancy

    Paper 12- Company Accounts and Audit

    Final :

    Paper 14- Advanced Financial Management

    Paper 15- Business Strategy and Strategic Cost Management

    Paper 17- Strategic Performance Management

    Paper 18- Corporate Financial Reporting

    Paper 20- Financial Analysis and Business Valuation

    Further, the subject exemption fee for each paper is fixed at Rs.1,000/- (Rupees One Thousand only ).

    For details visit http://www.icmai.in/upload/Institute/MOU/CIMA-CMA-Exemption-Mapping.pdf

  • 4. ACCA- UK qualified students are eligible to exemption in following papers under syllabus 2012.
  • Foundation- Complete exemption.

    Intermediate :

    Paper 5- Financial Accounting

    Paper 6 - Laws, Ethics & Governance

    Paper 8-Cost Accounting and Financial Management

    Paper 10- Cost and Management Accountancy

    Paper 12- Company Accounts and Audit

    Final :

    Paper 14- Advanced Financial Management

    Paper 15- Business Strategy and Strategic Cost Management

    Paper 17- Strategic Performance Management

    Paper 18- Corporate Financial Reporting

    Paper 20- Financial Analysis and Business Valuation

    Further, the subject exemption fee for each paper is fixed at Rs.1,000/- (Rupees One Thousand only )

    For details visit For details visit http://www.icmai.in/upload/Institute/MOU/ACCA-CMA-Mapping-Revised.pdf