Career Chart for Cost Accountants
Higher Secondary (class 10+2) Passed Candidates
Then comes the Foundation Examination
Intermediate Course (18 months minimum)
[Direct admission for graduates (any discipline)]
After passing the Intermediate Examination
Final Course (18 months minimum)
Final Examination Passed Candidates with 3 years Practical Experience
Cost Accountants (Members of the Institute)
The ICWAI examinations are held in three stages – Foundation ,Intermediate and Final. A candidate may appear for the Foundation examination after passing the plus two (twelfth standard) examinations and completing coaching either postal or oral..
The students are tested in Organisation and Management Fundamentals, Financial Accounting Fundamentals, Economics and Business Fundamentals and Business Mathematics and Statistics Fundamentals .The Foundation is waived in the case of gazetted officers, post graduates, qualified engineers holding a degree and graduates from other streams . They are generally allowed to register with the institute for the intermediate examination.
For the intermediate exam, there are eight papers – Cost and Management Accounting, Information Systems and Technology, Business Laws and Communication Skill, Business Taxation, Management Accounting-Performance Management, Advanced Financial Accounting, Auditing, Quantitative Methods. For the Final exam, there are eight papers-Operation and Project Management and Control, Advanced Financial Management and International Finance, Strategic Management and Marketing, Strategic Tax Management, Management Accounting-Decision Making, Management Accounting-Financial Strategy and Reporting, Cost Audit and Management Audit, Valuations Management and Case Study. The syllabus covered in the entire course includes book keeping and accountancy, production, productivity, cost effectiveness, cost accountancy, business mathematics and statistics, business and economic laws, principles of management, auditing, tax laws and tax planning, quantitative techniques and methods of cost and management accountancy.
The institute has made it mandatory for registered candidates to undergo coaching either directly or through correspondence and training, before appearing for the examinations. The duration of the course through correspondence is eighteen months. 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: — 1. Group Discussions - 2 nos. 2. Business Communication Seminars – 2 nos. 3. Computers hands on – 50 hours Final:— 1. Dissertation – 5000 words. 2. Computer Hands on – 100 hours 3. Modular training – 15 days 4. Audit / Industrial training – 6 months
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