Career In ICWA & Cost Accounting

If you are interested to become a Cost Management Accountant…. then ICWA will be one of the best course for you as per your interest.

The Institute of Cost Accountants of India (ICAI) formerly known as ICWAI (Institute of Cost & Works Accountants of India) is a premier institution of India which offers education and develops the profession of Cost Accountancy in the country.

“ICWA course is a gateway to become a cost management accountant.”

At present ICWA course has been renamed to CMA which stands for Cost Management Accounting. This course provides you an in-depth knowledge to manage business within the available resources. As a cost accountant, you have to collect and analyze the financial information from all the areas of a company.

This course comprises of three stages, i.e. CMA Foundation, CMA Intermediate and CMA Final. You can pursue this course through correspondence or through online from an accredited university.

career in cost accounting

Difference between CA & ICWA:

  • ICWA degree provides the knowledge on how to manage finance competently and CA degree gives you the knowledge of taxation, auditing, and accounting.
  • You can apply for CA course after passing 12th while for the ICWA foundation course you have to pass a 10th or equivalent exam from any recognized board.
  • CAs are involved in the core accounting work of a company while Cost Accountants are involved in the costing part of a financial transaction.
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Skills Required for a Cost Accountant:

  • You should be able to manage cost accounting procedures & methods.
  • You must have a good knowledge of standard concepts, procedures, and practices in the related field.
  • You should be able to perform several tasks and must have good presentation skills.

Eligibility and Duration

What is the eligibility to pursue ICWA & Cost Accounting courses?

The ICWA course has been divided into three stages which are Foundation, Intermediate, and Final. The detailed information about these stages are mentioned below:

Course Duration:

ICWA Foundation: Minimum 8 months duration.

ICWA Intermediate: Minimum 10 month duration.

ICWA Final: Minimum 18 months duration.

Course Eligibility:

ICWA Foundation: To apply for this course, students must have passed 10th or equivalent from any recognized institution or board. Candidates who have passed or appearing in 12th are also eligible to apply. Candidates must have completed the age of 17 years.

ICWA Intermediate: Students must have passed the Senior Secondary School Examination (10+2) and Foundation Course/ Graduation in any discipline other than fine arts.

ICWA Final: You can apply for this course after qualifying the ICWA Intermediate course from the institution.

Also Check:

Popular Courses in Commerce Field

Admission

How to apply for admission in these courses?

Admissions will be based on ICWAI entrance examination organized by the Institute of Cost Accountants of India (ICAI) i.e. Foundation, Intermediate, and Final exam. These examinations conducted two times in a year, i.e. June and December.

Students who are seeking for applying for the entrance examinations in December month are needed to apply latest by 30th June of the similar year. Those students want to apply for exams in June month are needed to apply by 31st December of the previous year.

ICWA Registration Fee:

  • ICWA Foundation Course – Rs. 4000/-
  • ICWA Intermediate Course – Rs. 20000/-
  • ICWA Final Course – Rs. 17000/-

Are there any good colleges to pursue ICWA & Cost Accounting courses in India?

Some good colleges to pursue ICWA & Cost Accounting courses are listed below:

  • The Institute of Cost Accountants of India (ICAI), Bangalore
  • Narsee Monjee College of Commerce and Economics, Mumbai
  • Bharathy Educational Centre, Namakkal
  • GC Rao Academy, Bangalore
  • Knowledge Academy of Research and Education (KARE), Palarivattom

Career Scope

“There are plenty of employment opportunities are available for the ICWA qualified people. Once you have completed the ICWA course, you can start up your career as a Cost Accountant”.

ICWA degree holders are highly demanded in the government sector, private enterprises, development agencies, banking & finance sector, education and training sectors. With the advancement of the economy, demands for cost and management professionals are rising rapidly.

Duties of a Cost Management Accountant:

  • Plan, study and collect data to determine the costs of business activities.
  • Analyze financial information and prepare reports accordingly.
  • To work with computer technology related to accounting.
  • To give advice to managerial staff about revenues and costs.
  • Implement cost accounting strategies to increase a company business.
  • To maintain cost accounting system.

Some popular areas where you can find jobs are consultancy firms, developmental agencies, departments of company affairs, training & research organizations, service industry, stock exchanges, public utility sector and other regulatory bodies.

Job Titles:

  • Finance Director
  • Managing Director
  • Associate Professor
  • Accountant
  • Cost Controller
  • Chief Auditor
  • Cost Accountant
  • Chief Accountant
  • Chief Internal Auditor
  • Financial Consultant
  • Managing Director
  • Financial Controller

Some Recruiters are:

  • Micro Inks Limited
  • Inext Infotech Services
  • Zexus Air Services Pvt Ltd
  • Government and Private Institutions
  • ALTRET Industries Pvt. Ltd.

Salary

“This is a field which provides satisfaction in terms of position as well as salary for successful candidates.”

In India, you can expect a starting salary between Rs.3 to 4 lacs per annum. Your salaries will also depend upon your working job profile, sector and experience in this field.

In abroad (USA), the average salary of a Cost Accountant is around $53k per annum.

“With good qualifications and experience, the pay packages offered to Cost Accountant are beyond the limits”.

Books & Study Materials

Presently, the market is full with a number of books & study materials of ICWA & cost accounting. Here we are listing some best books for the ICWA courses:

Accounts study Material, Law and audit by N.D kapoor

Students Guide to Accounting Standards (CA/ ICWA Final Examination) by D. S. Rawat

Scanner ICWA Stage I by Dr. Arun Kumar

  • Cost Accounting Text and Problems for CS/ICWA Examinations by N. K. Agarwal
  • Direct Tax by Girish Ahuja
  • Cost and Management Accounting (for All India) by S.P. Jain & K.L. Narang
  • Essentials of Cost and Management Accounting (for ICWA Inter, Stage 1) by V.K. Saxena & C.D. Vashist
  • Advanced Cost and Management Accounting – Problems and Solutions by V.K.Saxena & C.D.Vashist
  • Modern Cost and Management Accounting by M Hanif
  • Advanced Management Accounting (Cost Management and Operations Research) by Dr. J.B. Gupta

If you have any other queries regarding Cost and Work Accountancy (ICWA), you can leave your queries below.

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Displaying 213 Comments
  1. Krishna sharma says:

    Dear sir,
    I complete b.com.so i interested to cma corse.please gaidline me.
    Not only i but also my parents will be became very happy
    Thanks

  2. Shrikant says:

    I am doing B. Com(ty appearing)
    Can I join this cource?
    I am interested in icwa but I need some guide. so pls u can guide me .

  3. Nayaab butt says:

    Im 48 a bcom student but at present a fashion desigher as a profession but was always fond of maths and accounts will i be able to do thus course

  4. yogendra singh says:

    Comparison between ca cs and cma which is more tough or in cma also if we fale in any group exam we need to begin with starting….. Plz reply

  5. Deepak says:

    Sir’i completed my graduation so I can directly apply for cma inter Without applying cma foundation

  6. bhavna says:

    i have completed 12th and pursuing B.com, can i do icwai intermediate ?

  7. Anonymous says:

    hii. can i do the ICWA COURSE IN U.S.A OR CANADA

  8. ajaygole says:

    Icwa final course duratoon for month because may april i have holiday need

  9. aquil amir says:

    mai 12th complete kar liya ab kya karna chahiye commerce field me mujhe

  10. Puja Sharma says:

    I want to know ths syllabus for ICWAI foundation course.

  11. ICWA says:

    I am 38 yares old can i complete the icwa

  12. Akshay m karade says:

    Am ready to doing icwa and i will get a good career from icwa . Its my hope.

  13. Ramchowdary says:

    Sir I have completed b.com(graduation).I have given attempt for ca-ipcc but I didn’t complete. Now I want to join icwa course.what is the course details and how to apply the course and where to apply the couse

  14. Vrushti says:

    I am doing B. Com
    Why I should join this cource
    What are advantages of the cource

  15. kavitha says:

    i was completed b.com course and now searching for a job but i have a intereat in ICWA and also i need job , can i join as a currespond student

  16. Roshan says:

    What is advantages in this course .
    And what i do in this field

  17. CMA.Ashid Khan says:

    Writer is unaware of the fact that CMA stand for Cost & Management Accountant its not Cost Management Accountant it means CMA has complete knowledge of all accounts,finance and taxation even we are authorise under ample of audits in taxation accounts to and we have the equal power and rights that CA has in GST.

  18. Mohit says:

    sir
    i want to know about that .is indian CMA is globally applicable or acceptable or not . is this only acceptable in india .

  19. deepika says:

    Mne apna Bcom complete kia h…
    Ab mko kya krna chahiye… taki easly job mil jae

  20. Rajesh says:

    sir I have completed 12th and degree also but I have less percentage so which course I should join directly can u guide me Pls and any u r contact no

  21. Palak says:

    Does icwa has any future in jaipur…?? Plzz help me i’m very much confused related to this

    • Sona Tanwar says:

      you should icwa study in Jaipur exam center so u can apply and success in cost accounting .

      Thank regard
      Sona.

  22. Kirti P Dhiwar says:

    How to apply ICWA form or how to take admission in that field

    • sonu says:

      passed in 10+2 or Graduation in any disciple n so icwa link site open an go ahead for admission icwa if 10+2 pass so foundation course if Graduation intermediate

      Thank regard
      Sona

  23. RAGESH kumar AM says:

    Iam 40 years old currently working in a pvt firm as a finance officer,I would like to study and join ICWA course,whether I have get better opportunities when I complete this course,ICWAI faculties have any age criteria for getting a good job?Whether companies are considering 40+ candidates for their companies…..

  24. sushil kumar says:

    Pl tell procedure ofregestration for cma nd where althogh i belong to muzaffarnagar u.p.

  25. RAGU B says:

    How to apply for ICWA either in Online or Manual …..pls suggest

  26. Azhar Ahmed says:

    Best college for persuing icwa in chennai, Tamilnadu

  27. Deepti says:

    Is there any article ship required for icwa course ??

  28. dr monika says:

    icwa courses are on regular basis or distance learning mode?

  29. tushar pawar says:

    i want to do this course plz i am from Mumbai give me ur near office address

  30. Rohit says:

    I am assistant engineer in MSEDCL ,age is 31, interested in complition of ICWA, pls help me

  31. Yamuna says:

    How much year course is this ?
    After completing the course wil I get a job immediately ??

  32. Sujit Dey says:

    Sir,
    Now, I m 34 yrs of age & want to do the CMA course. But, now I m doing a job in Indian Railways,so can I do this course & complete it in time, also get a good career opportunity?

  33. Pradip says:

    In Ahmadabad,gujarat icwa college

    Give me a list

  34. durai ramya says:

    i am study b.com i interest APPLY FOR this icwa but i raelly best coaching centre

  35. prashantha says:

    i’m interested to do this course (ICWA) but right know i’m working in bank its possible to do this course without attend class plz help me sir

  36. Suraj kumar says:

    Is it compulsory to study from a college for ICWAI

  37. ghige narayan arun says:

    sir,
    I am complited b.com how to prepare icwi course

  38. salman marshood says:

    sir i have done my graduation in BMS and then PGDFM. i want to do icwa where and how to apply. and for what course like foundation Intermediate or final. which one to apply

    • Sarvgyan Team says:

      Admissions will be based on ICWAI entrance examination organized by the Institute of Cost Accountants of India (ICAI) i.e. Foundation, Intermediate and Final exam. These examinations conducted two times in a year, i.e. June and December.

      • marshood salman says:

        thanks for your esteem reply.

        i am bit confuse that at what level should i enroll like foundation or intermediate. please help me…….

  39. Shivani Goswami says:

    Sir
    I wanted to ask that if compared both CA and ICWA, the scope of which one is larger and better in terms of job and travel both?

  40. shlok says:

    Is it compulsory to study from a college for icwa ????

  41. Your Name... says:

    sir i am studying b.com 2nd year can i apply for this icwa course please give any other idea please.

  42. umesh Thakur says:

    Sir
    I m completed my graduation in BMS
    Also I worked CA office past 9 months
    I want choose my career
    Please suggest me

  43. ankit kumar says:

    How much importance of englise for icwa
    Becouse sir . I am week in englise .
    I have atempt b.com3rd year exam this year.
    If mistacks of my comments so i am realy sorry .
    But pleas sir answer me.
    Thankig you sir.

    • Sarvgyan says:

      English is important, you must have basic understanding of English. Verbal & written english proficiency is important in every professional career.

  44. om pandey says:

    sir
    i live in howrah.As you mentioned in your post that minimum age must be 17 year for cma foundation but i will complete my 17 year on 7-8-2017 n i have passd 12th from state board n last date of registering cma foundation is 31st july which exam will be held in december 2017.But i will complete my 17 just after 7 days from last date of application.so, can you pls give me your valuable suggestion relating age criteria n i m just falling 7 days short from being 17 from last date of registration so m i eligible for cma foundation???????
    Thank you.
    contact no.8017531422

  45. Dhruvil says:

    I need to know about the colleges which offers this course in Mumbai.

  46. nikita says:

    i m bcom graduate student..can i apply for intermediate level of cost accounting directly without giving the exam of foundation level of same?

  47. Shubham says:

    Learning a foreign language ,is it useful after completing ICWA

  48. Nimesh Diyora says:

    Patten in ICWA exam and How to years know plz

  49. pranav says:

    i have completed my BE in mechanical engineering.I was thinking about doing icwa. so need to know what is the scope for engineering stream candidates. plz guide me.

  50. shubham jaiswal says:

    Hey sir I have complet my b.com plz suggest me how many colg in Mumbai ICAW

  51. hemamalini says:

    hello i have cleared cma inter.
    and iam pursuing final semester b.com.
    could u plz suggest me cma articleship in chennai.

  52. Simpal sahu says:

    Can I do it in hindi language…… Any age baar

  53. kamran quadri says:

    I did graduation in commerce and MBA in finance stream. Now can i directly join CMA final course or not.

  54. Your Name... says:

    How can I clear Inter in one go?

  55. Abhijit says:

    I need the full information of icwa I had done my graduation from ips academy, and I want to learn more icwa course

  56. Raj says:

    Dear, I ve completed my Engg. (EEE). Now im working in MNC as in the field, which related to cost estimation ( Kind of pricing ). So as i looking forward , is that ICWA suitable for me..?? How it wuld help me & wat nd all d scope on that??

  57. Akshaya says:

    I’m very confused what to choose after my b.com……

  58. Dharmendra says:

    I.m a odisha medium student and I have completed ITI

  59. Preeti Sharma says:

    I’m a Hindi medium student and I have completed my graduation so can I apply for ICWA

  60. vikas pal says:

    It required any percentage to do this course .

  61. kashyap says:

    do we hold any job after completion of intermideate level and prepare for final?

  62. Sheikh says:

    Hi I am from Bangalore and I have completed my B.com in 2004 and now I am interested in doing ICWA, so please let me know if at this age can we do this course.

  63. Yalamandala Manjula says:

    how much salary after complete of icwa final

  64. Rittik bora says:

    Is ICWA a profession??

  65. Arshdeep singh says:

    Hello sir now i am study +1 commerce in cbse board. I want to become a cost accountant. I am good in accounts. Sir please give me adive what to do further for this goal. Actually sir i am living in Amritsar, punjab and i dont want to go another state. So plz give me assitance to do for further goal.

  66. imran says:

    after completing intermediate how manys months we have to work for experience ??? and after we complete the final the course is over right??

  67. vikas says:

    Sir i want to go for icwa but currently am doing my graduation from delhi university…so i want to know whether i will have to leave the college or not

  68. rakesh says:

    What is the scope of icwa for a law graduate. Is it better to go for cma course after Llb. Also,
    Are law graduates exempted from foundation and directly attempt the intermediate grp I??

  69. arshad shaikh says:

    Max how much salary is given to icwa

  70. arshad shaikh says:

    Max how much salary is given to employe

  71. Durgesh says:

    I have passed 10th on 2006
    And i want to do this course
    Sir inform me may i apply for same course

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