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 Accountants
Of India (ICAI) which was formerly known as Institute of Cost and Works
Accountants of India (ICWAI), is 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. The Institute
has four Regional
councils in the Metro cities.
ICWAI (ICAI): Eligibility
Candidates with 10+2 qualification can join the Institute's Intermediate
course after qualifying the Foundation Course examination of the Institute.
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.
CMA certification of IMA in America and CIMA of UK is considered as a
qualification which can be obtained by writing some of the papers of ICWAI
(ICAI).
ICWAI (ICAI): Job Prospects & Career Options
ICWAI (ICAI) passed candidates can hold top management positions, Viz.
Managing Director, Finance Director, Financial Controller, Accountant,
Cost Controller, Finance Manager, Chief Internal Auditor etc. in
public and private sector organisations. Fellow members of the Institute
would be treated at par with the persons holding Ph.D. degree as far as
appointment in the posts of Professor, Associate Professor, Reader, Asstt.
Professor and Lecturer in Professional / Management Institutes are concerned.
They can also find self employment in the following
areas.
» Mandatory Cost Audit under Section 233(B) of the
Companies Act, 1956. » Certification under
Export & Import Policy. » Excise Audit under
Section 14A of the Central Excise Act and Special Audit of Modvat Credit
availed of under Section 14AA of the Central Excise Act. » Certification of manufacturing
account as per Customs Act. » Consultancy assignments.
