FROM INCEPTION NO . 1 IN RESULTS
28 May 2017 12:03 pm

CMA(ICWA) - Institute of Cost Accountants of India - ICAI

 

The Cost & Management Accountant (ICWA) facilitates strategic management decisions in respect of economic activities of an organization by their sheer expertise. This is a field which provides satisfaction in terms of position as well as remuneration for successful candidates. Needles to say a Cost & Management Accountant (ICWA) must have knowledge of cost & financial management to ensure a balance between expenditures & available resources. ICWA is a job assured course, which secures immediate career irrespective of the market tendencies. In addition to this a Cost Accountant by profession has a good social status. A Cost Accountant is expected to collect, assimilate, collate and analyze financial information from all areas of the organization. A cost accounting degree equips you with the knowledge on how to manage finance competently. A Cost Accountant has great roles and responsibilities and decision making power on operations, production and other crucial aspects. Cost accountants are paid distinctively higher when compared to other sources and in the senior level, the salaries are high as 30-40 lakhs. Every organization is in need of a good cost accountant. So, have thorough knowledge on the course, its career prospects and develop passion towards the course, you will definitely have a bright career.

The ICWA (CMA-INDIA) course is on professional lines which needs application oriented study, the syllabus and papers are set to the standards that meet the present needs of the market to face the future challenges therein. One can have bright growth prospects in practicing as they learn real life situations and are exposed to challenges and problems, where as if one works in a company they are accustomed to a routine work. There is no specific time limit for admission to Cost Accountancy course. This is a 24/7 available course and students can join any time and in any part of the year.

Logic School of Management (LSM) is the leading and best institute for excellent and professional coaching centre for ICWA/ (CMA-INDIA) in Kerala, Kochi.

Our classes are handled by highly, efficient and dedicated faculties from industry and academia. We are proud to mention that we are No:1 in results. Special and individual attention is our added attraction. In addition to this, we also conduct soft skill and personality development programmes. We have good library facility and Wi-Fi campus. We provide hostel facilities for both girls and boys.

The registrations for ICWA course are in lakhs and the figures are increasing rapidly due to improvement in job scenario with certain changes introduced in the law. Interestingly engineering graduates are opting for this career, which gives job guarantee for lakhs of freshers who otherwise are finding difficulty to get a job with engineering background. On an average, presently there are 50,000-trained Cost Accountants available in the country.

GOVERNING  BODY

Institute of Cost Accountants of India (ICAI) previously known as the Institute of Cost & Works Accountants of India (ICWA) promotes, regulates, and develops the profession of Cost & Management Accountancy in India.

Course Level

ICWA/ (CMA-INDIA) course comprises of three levels; viz, foundation, intermediate, and final.

Eligibility

Foundation level: Those who had passed Class 10 or equivalent from a recognized Board or Institution.

Intermediate level: Those who had passed Senior Secondary School Examination (10+2) & Foundation Course of CMA (ICAI)/ Graduation in any discipline other than Fine Arts/ Foundation (Entry Level) Part I Examination of CAT of the Institute/ Foundation (Entry Level) Part I Examination and Competency Level Part II Examination of CAT of the Institute OR Passed Foundation of ICSI/Intermediate of along with 10+2.

An outline of ICWA (CMA-INDIA) syllabus is furnished below:

Syllabus

The syllabus and papers are set to the standards that meet the present needs of the market to face the challenging and turbulent scenario. The foundation level consists of 4 papers, intermediate consists of 8 papers.

Foundation

Syllabus 2016 – Foundation Course:
Paper – 1 Fundamentals of Economics and Management
Paper – 2 Fundamentals of Accounting
Paper – 3 Fundamentals of Laws and Ethics
Paper – 4 Fundamentals of Business Mathematics & Statistics
 
Syllabus 2016 – Intermediate Course:
Group – 1
Paper – 5 Financial Accounting
Paper – 6 Laws & Ethics
Paper – 7 Direct Taxation
Paper – 8 Cost Accounting
 
Syllabus 2016 – Intermediate Course:
Group – 2
Paper – 9 Operations Management & Strategic Management
Paper – 10 Cost & Management Accounting and Financial Management
Paper – 11 Indirect Taxation
Paper – 12 Company Accounts & Audit
 
Syllabus 2016 – Final Course:
Group – 3
Paper – 13 Corporate Laws & Compliance
Paper – 14 Strategic Financial Management
Paper – 15 Strategic Cost Management – Decision Making
Paper – 16 Direct Tax Laws and International Taxation
 
Syllabus 2016 – Final Course:
Group – 4
Paper – 17 Corporate Financial Reporting
Paper – 18 Indirect Tax Laws & Practice
Paper – 19 Cost & Management Audit
Paper – 20 Strategic Performance Management and Business Valuation.

Examination Pattern: Exams are held twice a year - June & December

CAREER PROSPECTS

This is a 100% job guaranteed course. Immediately after completing the course one may get salary package of six lakhs per annum. ICWA graduates are absorbed in companies like BDL, BHEL, Reddy Labs, ECIL, Aurobindo Pharma, and L&T. After completion of the ICWA course, starting salary of two lakhs is offered for freshers. Committed and hardworking people grow faster in their career when compared with their peers and even has huge scope to attain high posts as Managing Directors. An ICWA student has to work for at least three years as practicing Cost Accountant for setting up his/her own business.

CAREER HIERARCHY

The career hierarchy of ICWA-(CMA-INDIA) passed candidates can hold top management positions; they are occupying high echelons like Chairman, Managing Director, Finance Director, Chief Executive, General Manager, Financial Controller, Chief Accountant, Cost Controller, Finance Manager, Chief Internal Auditor etc. in public and private sector organizations. Fellow members of the Institute would be treated at par with the persons holding Ph.D. degree as far as appointment in the areas of academics also.  

 

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