IGNOU MBA in Management Accounting and Finance (MBAMAFCI)

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MBA in management accounting and Finance is a program designed for the accounting and finance sector. The program is offered by IGNOU in collaboration with CIMA (Chartered Institute of Management Accountants).

The program consists of two different components namely the IGNOU component and the CIMA component,  upon the completion of which you will be awarded with a Master of Business Administration Degree.

*CIMA is a globally recognized institution, founded and headquartered in London (UK).

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Fee Structure

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The program has a slightly complicated fee structure compared to other IGNOU MBA program. The program fee is to be paid as two components (IGNOU component and CIMA component). The fee structure is as follows.

Total program fee:

IGNOU component is ₹ 55,000

CIMA component is £ 1300

Semester fee:

Semester 1 (IGNOU): ₹ 17,500

Semester 1 (CIMA): £ 400 (₹ 37692.11 in current exchange rates)

Semester 2, 3, and 4 (IGNOU): ₹ 12,500 (each semester)

Semester 2, 3 and 4 (CIMA): £ 300 (₹ 28269.08 in current exchange rates)

*IGNOU component payable as demand draft in Delhi

*CIMA component payable as demand draft in London

Eligibility Criteria

Graduation in any stream with at least 55% (45% for reserved categories) of marks or equivalent grades from recognized university.

Program Delivery

The program is a dual certificate program with distance education mode of delivery. All the components are delivered in a non-face-to-face interaction method. The program includes components from both IGNOU and CIMA.

Program Duration

Total program duration: 2 years

The program is divided into 4 semesters with each semester with duration of 6 months. This makes the total duration as 2 years.

Program Structure

All the students will have to complete a series of courses in 4 different semesters. First 2 semesters contains 6 compulsory courses each, 3rd semester consists of 5 compulsory courses and 4th semester contains 4 courses in which 3 of them are electives (3 courses is to be chosen from an option of 5) and the last course is project work.

Selection procedure

All the eligible candidates will have to appear for a written test which will be conducted by IGNOU. The centers for the exam is listed in the prospectus given towards the end.

Who should choose and why?

MBAMAFCI program is one of the few distance MBA program that will get you a dual certificate from 2 of the very well respected and recognized universities in the world. The program mostly deals with management, financial and accounting based topics which make give upper hand to those who have good finance and accounting knowledge. But the program is also suited for graduates from any stream.

Career prospects

The fact that the program completion will give you dual certificate from IGNOU and CIMA itself is a big career defining aspect. The program completion will give you lots dream coming true opportunities from India and abroad. The Advanced Diploma in Management Accounting certificate from CIMA is recognized throughout the world which will bring in just as much as opportunities from abroad as much as from India.

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