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Cost Accountant
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Eligibility and Course Duration Industry Size Industry Growth Individual Growth Best Colleges
10+2 science, commerce and arts for Foundation course and Graduation from any field for direct admission to Intermediate course. Duration is 3 years for Foundation course students and 2 years for students directly joining the Intermediate course - - Asst. manager to M.D. or cost controller./ Private practice The Institute of Cost and Works Accountants of India
www.myicwai.com
 

The Cost and Management Accountants facilitate strategic management decision in respect of economic activities of an organization by their sheer expertise. Study of Cost & Management Accountancy provides in depth knowledge and perspective to manage business under given circumstances. This is a field which provides satisfaction in terms of position as well as remuneration for successful candidates.

The Institute of Cost and Works Accountants Of India, the only professional body specialized in the field of Cost and Management Accountancy in India aims at imparting coaching and training in the subject of Cost & Management Accountancy. It was established by an Act of Parliament in the year 1959, though the same was in existence as a company since 1944.

 
Course

The course is divided into Intermediate and Final with eight papers each. Both has two Stages with 4 papers each. According to the revised syllabus, along with the 8 papers in the Intermediate, two group discussions, two seminars and also computer Hours(50) has been included.

After one clears all the eight papers in the Intermediate, one can go in for the final. In the final along with the 8 papers; Dissertation (5000 words), Computer (100 hours ), Modular training (15 days ),Audit / Industrial training (6 months) is included.

10+2 candidates has to complete the Foundation Course of the institute to join the Intermediate course.

Eligibility

Candidates with 10+2 qualification from science, commerce and arts can join the Institute's Foundation Course examination. Students awaiting result of 10+2 examination may be permitted to appear in the Foundation Course examination. Similarly students awaiting result of Graduation examination may also avail the facility of provisional registration. Direct Registration without appearing for the Foundation course is open to Graduates of any discipline.

Examination

Exams are held two times in a year i.e. on 18th to 21st June and on 26th to 29th December. For June Term Examination apply before 15th December of previous year and for December Term Examination apply before 15th June for each course. The examinations are conducted at various centres in the country and also at three Overseas Centres Dubai, Sultanate of Oman and Botswana for overseas students.The students of all the 3 courses have the option of answering the exam in Hindi language.

For further details incumbent may obtain a copy of the Prospectus of the Institute, which costs Rs. 100/- and is available from the Institute's headquarters at 12, Sudder Street, Kolkata - 700 016.


Subjects covered & Fee Structure

Foundation Course

  • Organisation and Management Fundamentals
  • Financial Accounting Fundamentals
  • Economics and Business Fundamentals
  • Business Mathematics and Statistics Fundamentals

Intermediate Course: (Stage I)

  • Cost and Management Accounting
  • Information Systems and Technology
  • Business Laws and Communication Skill
  • Business Taxation

Intermediate Course: (Stage II)

  • Management Accounting - Performance Management
  • Advanced Financial Accounting
  • Auditing
  • Quantitative Methods

Final Course: (Stage III)

  • Operations and Project Management & Control
  • Advanced Financial Management and International Finance
  • Strategic Management and Marketing
  • Strategic Tax Management

Final Course: (Stage IV)

  • Management Accounting - Decision Making
  • Management Accounting - Financial Strategy and Reporting
  • Cost Audit and Management Audit
  • Valuations Management and Case Study

Coaching & Training

The Institute offers two types of tuition Postal through its four Regional Councils situated in four metropolises Mumbai, New Delhi, Chennai and Kolkata and Oral through its more than 106 affiliated Oral Coaching Centres spread all over the country. With a view to bridge the gap between theoretical knowledge and to emphasis practical orientation training requirements for ICWAI students have been presented as given below:

Intermediate

  • Group Discussions - 2 nos.
  • Business Communication Seminars 2 nos.
  • Computers hands on 50 hours

Final

  • Dissertation 5000 words.
  • Computer Hands on 100 hours
  • Modular training 15 days
  • Audit / Industrial training 6 months

Fee Structure

The fee structure of the Institute is given below

Registration Fee

Registration fees of Rs. 300 (to be paid one time only)

Coaching Fee Postal Oral

Foundation
Intermediate
Final

2000
3500
4000

2500 (including study materials)
4160
4620

Examination Fee

Examination

 Fee

Postal Oral

Foundation
Intermediate
Final

Rs. 700
Rs. 700 (Any one stage)
Rs. 800 (Any one Stage)

 
Rs. 1400 (Both Stages)
Rs. 1600 (Both Stages)

Job prospects

The awarness among business entrepreneurs towards the vital contribution made by cost and management accountancy services in the business houses has led to the demand for cost and management accounting services in all the sectors of economy. Many members of the Institute are holding top management positions, viz., Managing Director, Finance Director, Financial Controller, Chief Accountant, Cost Controller, Marketing Manager, Chief Internal Auditor. Those managing their own business, have found in themselves a Manager and an Accountant to control and flourish their business.

Members of the Institute can also be engaged in cost consultancy services and in teaching cost and management accountancy in Universities and Colleges.

Cost Accountancy qualification has also been recognised by the Academic Councils of many Universities in India for the purpose of admission of the Ph.D. courses in Commerce. It was resolved by Association of Indian Universities to accept Bachelor Degree-holders who have ICWAI Qualification for registration as M.Phil. and Ph.D. candidates in commerce and allied disciplines vide their letter nos. EV/II/(2)/91/80878 dated 16.8.1991 and EV/II/(2)/2000/179741 dated 29.11.2000.

Moreover, as per the decision of the All India Council for Technical Education, Fellow Members of our Institute are treated at par with Ph.D. candidates in so far as appointment in the posts of Professor, Associate Professor, Reader, Asstt.Professor and Lecturer in Professional / Management Institutes are concerned.

Cost and Management Accountants are also holding key position in Central and State Governments as policy makers. , the Central Government has constituted an all-India cadre known as Indian Cost Accounts Service (ICAS) at par with other Class-I services such as IAS, IFS etc. to advise the government in cost pricing and in framing the appropriate fiscal and tax policies.

A Cost Accountant may build up his own practice by obtaining a licence from the Institute which would enable him to practice as a Cost Accountant, either individually or in partnership with one or more members of the Institute in practice. His clientele include private and public companies, large, medium and small scale undertakings, partnership and proprietary concerns, industrial, commercial and service undertakings etc.

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