The Cost And Works Accountant

               Cwa is the course conducted by the Institute of Cost and Works Accountants of India ( ICWAI ), which is a premier professional body of Management Accountants in the Country established on 28th May, 1959 under the Cost and Works Accountants Act, 1959 as amended by the Cost and Works Accountants (Amendment) Act, 2006 enacted by the Parliament to regulate the profession of Cost and Management Accountancy in India.

          The Institute has its Headquarters at Kolkata and numerous chapters in the various parts of India and abroad. Over the Years The Cost and Management Accountancy profession has registered a tremendous growth and has occupied a prominent role in our economy and society. The Institute has more than 1,65,000 students and more than 40,000 qualified members.

Role of Cost and Management Accountants

                 With the globalization of all economic activities, the industries both in manufacturing and service sector have recognized the potential of Cost and Management Accounting profession in giving support in effective resource management and making the operations more cost effective for facing the challenges of management.

                 Cost and Management Accountants provide services in investment planning, profit planning, project management, and overall managerial decision making process. Central Government has constituted an all-India cadre known as Indian Cost Accounting Service (ICAS) at par with class-I services for framing fiscal and tax policies.

                  The specialized knowledge and skill of the professional members of the Institute are being given due recognition for different Audit or Certification work under different statutes like maintenance of Cost Accounting Records Rules under Section 209(1) (d) of the Companies Act 1956, Cost Audit under Section 233B of the same Act and Valuation Audit, CENVAT Audit / Service Tax Audit under section 14A, and 14AA of the Central Excise Act 1944.

Job Opportuities for Cost And Management Accountants

Cost Accounting

Accounting

Financial Management

Financial / Business Analyst

Auditing / Internal Auditing / Special Audits

Direct & Indirect Taxation

Systems Analysis & Systems Management

Functional Consultancy in ERP implementation

Process Analysis in BPO houses

Academic Careers in College / Management Institute etc.

Implementing Business Intelligence Systems

Practicing Cost Accountants 

                 A member of the Institute may also practice independently as a professional after obtaining a certificate of practice from the Institute.  (For more details visit www.myicwai.com)

The Course Structure

                 The Cost and Works Accountants course has 18 papers divided into three levels, namely, 

              Foundation Course

              Intermediate Course

              Final Course

The examinations are conducted twice during the year, ie., during June and December every year.

              Pre-Membership Training 

A Student has to undergo 3 years practical training in approved companies or with Practicing Cost Accountants.

Note : The above Information is extracted from the institute’s Prospectus, only for an overall awareness about the course and those who are interested to join the course may also contact Chapters near your city which are available in the website www.myicwai.com or visit www.myicwai.com