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| The role
of Cost and Management Accountants mainly consists of working
in stabilizing budgets and standards, evaluating operating
efficiency and effectiveness of production and service management.
An Accountant also works in formulating the profit planning
programme, guiding managerial decision, identifying accountability
for cost and profit variances thus bringing profit to the
organization. |
| A Cost Accountant
specializes in stabilizing budgets and standards, evaluating
operational efficiency and effectiveness of production
and service management, formulating the profile planning
programme, guiding the managerial decisions, identifying
accountability for cost and profit matrix for the organization.
|
| In many companies Cost Accountant’s
professional expertise is also taken on product pricing
policy, production planning and inventory control of the
company, export and import feasibility for the company,
product-wise return on capital employed by the company.
The cost accountant also has to take product feasibility
proposals, which can get greater profits for the company.
|
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| Course Structure: |
| In order to be a qualified
Cost Accountant a candidate has to take the examination
conducted by the Institute of Cost and Works Accounts (ICWA).
The examination comprises of three stages: preliminary,
intermediate and final. |
| To sit for the preliminary
examination, an individual should have passed the 10+2 Exam.
Gazetted officers, post-graduates/engineers and other graduates
with 50 per cent are eligible for direct registration. It
is obligatory for registered students of ICWA to undergo
either postal or oral tuition before appearing for the intermediary
stage namely financial accounts, cost accounts, corporate
laws, secretarial practice and direct management accounts,
the candidate has to clear the final stage papers of cost
and management accounts, the candidate has to clear auditing,
in direst taxation and quantitative methods in the preliminary. |
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| Foundation Course: |
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Eligibility |
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One can become a student of the Institute
by passing Foundation Course Examination. A person
is eligible to this Examination, if he has: completed
seventeen years of age on the date of his application
and has passed the Senior Secondary School examination
under the 10+2 Scheme of a recognized Board, or
has passed the All India Council of Technical Education
or any State Board of Technical Education. |
|
Fee: |
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At present fee for admission to the
Foundation Course Examination is Rs. 125 (Rupees
One hundred twenty five only but subject to revision).
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Syllabus: |
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The subjects for Foundation Course
Examination are |
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· Business Fundamentals and
Economics
· Management and Organisation
· Basic Mathematics and Statistics
· Commercial Laws |
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Other Salient Features: |
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The Foundation Course Examination
is held in the month of June and December every
year. The June Examination is held on 23rd and 24th
June and December Examination is held on 30th and
31st December. |
| |
Mode of Payment: Fee for the
examination can be deposited in selected branches
of State Bank of India by filling the special
quadruplicate Challan. |
| |
Last date of Receipt of Application
Forms: Last date of receipt of application at the
respective office of the Regional Council of the
Institute is 31st May for June Examination and 30th
November for December Examination. Application after
the due date upto 7 days will be accepted with a
late fee of Rs., 50/- The forms with prescribed
fee can be submitted to the respective office of
the Regional Council from 25th April to 31st May
for June Examination and from 25th October to 30th
November for December Examination. |
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Direct Registration : |
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A person can become registered student
directly without passing Foundation Course Examination
if he has been conferred a degree from any University
or equivalent with a minimum of 50 per cent in aggregate.
|
|
Examination Papers: |
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1. Intermediate Examination –
Stage : I and II |
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Stage I: |
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|
| Paper
1 : |
Financial Accounting |
| Paper 2 : |
Cost Accounting |
| Paper 3 : |
Corporate Laws and Secretarial Practice |
| Paper 4 : |
Direct Taxation Stage II |
| Paper 5 : |
Cost and Management Accounting |
| Paper 6 : |
Auditing |
| Paper 7 : |
Indirect Taxation |
| Paper 8 : |
Quantitative Methods |
|
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2. Final Examination - Stage : III
and IV |
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Stage III: |
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|
| Paper
9: |
Advanced Financial Accounting |
| Paper 10 : |
Information Technology & Computer
Applications |
| Paper 11 : |
Operations Management and Control |
| Paper 12 : |
Project Management and Control |
|
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Stage IV: |
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|
| Paper
13 : |
Advanced Management Accounting
Techniques and Applications |
| Paper 14 : |
Advanced Financial Management |
| Paper 15 : |
Advanced Management Accounting Strategic
Management |
| Paper 16 : |
Cost Audit. |
|
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After passing the Intermediate Examination,
the student is admitted to the Final Examination
of the Institute. |
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Examination Centers : |
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Agartala, Ahmedabad, Allahabad, Asansol
(Burnpur), Aurangabad, Bangalore, Baroda, Bhilai,
Bokaro, Mumbai, Calcutta, Chandigrah, Coimbatore,
Cuttack, Dehradun, Delhi, Dhanbad, Durganpur, Ernakulam,
Guwahati, Howrah, Hyderabad, Indore, Jaipur, Jamshepur,
Jodhpur, kanpur, Kota, Lucknow, Chennai, Madurai,
Mysore, Nagpur, Nasik, Netveli, Panaji (Goa), Patna,
Pune, Ranchi, Rourkela, Salem, Srinagar, Tiruchirapalli,
Tricandrum, Udaipur, Vijayawada and Waltair. There
are some overseas centers also. |
|
Coaching: |
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The ICWA has made it obligatory for
registered students to undergo and complete satisfactorily
a course of tuition, either postal or oral, before
they are permitted to appear at the Intermediate
or Final exam. |
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The coaching Directorate of the Institute
through its Regional Councils conducts postal tuition.
Many Colleges, Institutions and organizations recognized
by the Director of Studies of the Institute, impart
oral Tuition. Students are eligible to undergo coaching
(Postal or Oral) for Final Exam. No provisional
admission to coaching for Final Exam is allowed.
The normal period for completion of postal tuition
for Intermediate or Final exam, is 18 months. This
period may be extended by 3 months for each group
at the discretion of the Direct of studies. |
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| Career Prospects : |
| A qualified Cost Accountant
has several career options. He or she can serve in an industry,
take up a government job, practice as a cost accountant
individually with a license, or work as a consultant in
financial companies in portfolio management. |
| |
| Self-Employment Opportunities : |
| A Cost Accountant may
build up his own practice thus becoming his own boss by
obtaining a license from the Institute. This will make him
to practice as a Cost Accountant, either individually or
in partnership with one of more members of the Institute
in Practice. The kind of clients will include private and
public companies, large, medium and small scale undertakings,
partnership and proprietary concerns, industrial, commercial
and service undertakings. |
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| List of Address of Regional Centres of ICWA
: |
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| 1. |
Western India Regional Council of
the ICWAI, Rohit Chambers, 4th Floor, Janmabhoomi,
Fort, Mumbai-400001 (Comprising Gujarat, M.P., Maharashtra,
Goa, Daman, Diu and Dadra and Nagar Haveli). |
| 2. |
Southern India Regional Council of the ICWAI,
ICWAI Bhawan, 65, Montieth Lane, Egmore, Chennai-600008
(Comprising A.P., Karnataka, Kerala, T.N., Pondichery
and Lakshadweep.) |
| 3. |
Eastern India Regional Council of the ICWAI, ICWAI
Bhawan, 84, Harish Mukherjee Road, Calcutta 700025
(Comprising Assam, Bihar, Manipur, Meghalaya, Nagaland,
Orissa, Tripura, West Bengal, Arunachal Pradesh,
Mizoram, and the Andaman & Nikobar Islands).
|
| 4. |
Northern India Regional Council of the ICWAI,
ICWAI Bhawan, 3, Institutional Area, Lodhi Road,
New Delhi 110003 (Comprising Delhi, Haryana, H.P.,
J & K, Punjab, Rajasthan, U.P. and Chandigrah).
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