ICWA

YOUR GATEWAY TO A CAREER IN COST AND MANAGEMENT ACCOUNTANCY (ICAI-CMA)

STEPS TO BE TAKEN TO BECOME A COST & MANAGEMENT ACCOUNTANT (CMA)
I. Admission to Foundation Course :

  1. A candidate should have passed Class 10 or equivalent from a recognized Board or Institution.
  2. Passed Senior Secondary Examination under 10+2 scheme of a recognized Board or an Examination recognized by the Central Government as equivalent thereto or has passed National Diploma in Commerce Examination held by the All India Council for Technical Education or any State Board of Technical Education under the authority of the said All India Council, or the Diploma in Rural Service Examination conducted by the National Council of Higher Education.
  3. Student waiting for the result can apply for provisional admission
  4. Cost of prospectus Rs. 250/- available from Chapter.

Students desirous to undergo Postal Coaching can now apply for Registration ONLINE

  1. Attested Copy of Matriculation Certificate
  2. Attested copy of 10+2 Certificate or Marks Statement
  3. 3(Three) Passport size photographs –
  1. Pasted on the form
  2. One pasted on Identity Card and
  3. One to be attached with the application.

(Attestation should be by any member of The Institute of Cost Accountants of India /The Institute of Chartered Accountants of India/ The Institute of Company Secretaries of India/Parliament/Stage Legislative Assembly or a Gazetted Officer or a Principal of a college)
5. Last date for admission to Foundation Course.
a) For December Term Examination, cut off date for admission is 30th June of same year.
b) For June Term Examination, cut off date for admission is 31st December of the previous year.
6. Syllabus of Foundation Course

Paper 1 Fundamentals of Economics And Management
Paper 2: Fundamentals of Accounting
Paper 3: Fundamentals of Law And Ethics
Paper 4: Fundamentals of Business Mathematics And Statistics

II.Admission to Intermediate Course

  1. Passed Senior Secondary School Examination (10+2)and Foundation Course of the Institute of Cost Accountants of India/ 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
  2. Passed Foundation of ICSI/Intermediate of ICAI by whatever name called along with 10+2.
  3. Documents to be enclosed with application form:

Students desirous to undergo Postal Coaching
can now apply for Registration ONLINE, Required documents are as follows:-
1. Attested Copy of Matriculation Certificate
2. Attested copy of 10+2 Certificate or Marks Statement
3. Attested copy of the degree
4. 3(Three) Passport size photographs –
1. Pasted on the form
2. One pasted on Identity Card and
3. One to be attached with the application.
(Attestation should be by any member of The Institute of Cost Accountants of India /The Institute of Chartered Accountants of India/The Institute of Company Secretaries of India/Parliament/Stage Legislative Assembly or a Gazetted Officer or a Principal of a college)
4. Candidates awaiting results of qualifying examinations may also apply for PROVISIONAL admission.
5. Last date for admission to Intermediate Course.
a) For December Term Examination , cut off date for admission is 31st May of same year.
b) For June Term Examination , cut off date for admission is 30th November of the previous year.
6. Syllabus for Intermediate Course:

PaperGROUP – IPaperGROUP – II
5
6
7
8
Financial Accounting
Law,Ethics And Governance
Direct Taxation
Cost Accounting And Financial Management
9
10
11
12
Operation Management & Information System
Cost & Management Accountancy
Indirect Taxation
Company Accounts And Audit

III Admission to Final Course :
1. Only the candidates who have passed the Intermediate Examination of ICWA are eligible to Final Course.
3. Last date for admission to Final Course.
a) For December Term Examination , cut off date for admission is 31st May of same year.
b) For June Term Examination , cut off date for admission is 30th November of the previous year.
4. Syllabus for Final Course:

PaperGROUP – IIIPaperGROUP – IV
13
14
15
16
Corporate law and compliance
Advanced financial management
Business strategy & strategic cost management
Tax management & practice
17
18
19
20
Strategic Performance Management
Corporate Financial Reporting
Cost And Management Audit
Financial Analysis & Business Valuation

5. Atleast 6 month’s practical training to be completed for appearing in the term of final examination.
Eligibility criteria and fees.

Admission Type Eligibility Fees(Postal)
Admission to Foundation Course
Registration to Intermediate Course
Enrollment to Final course
Passed class x
Passed Foundation Course or Graduates
Passed Intermediate
4000/-
16000/-
12000/-

SCOPE FOR COST & MANAGEMENT ACCOUNTANT (CMA):-
There are ample opportunities for independent practice besides employment in public and private sectors for the professionals. Many members of the institute are engaged in offering Management Consultancy Services and in teaching Cost and Management Accountancy in colleges and Universities in India and abroad. Members of the Institute are occupying higher positions like Chairman, Managing Director, Director (Finance), Chief Executive/Operating Officer, General Manager, Finance Manager, etc. in many Public and Private sectors.

Professional Avenues for Cost Accountants
In the present scenario, Cost Accountants are in great demand in private enterprises, government sector, banking & finance sector, developmental agencies, education, training & research sector as well as in service and public utility sector. Because of their quality training, they can hold top management position in public and private sectors’ enterprises like Chairman cum Managing Directors, Managing Director, Finance Director, Financial Controller, Chief Financial Officer (CFO), Cost Controller, Marketing Manager and Chief Internal Auditor etc. Those managing their own businesses have found themselves a Manager and an Accountant to control and flourish their businesses. There is no doubt that a Cost Accountant can attain the highest ladder of professional career. There is a sustained demand for qualified, trained and experienced cost accountants in India and abroad in different industries and Government Departments. Many members of the Institute are also engaged in providing professional and cost consultancy services and in teaching cost and management accountancy in Universities and Colleges.

Cost accountancy edges over financial accounting. Cost accounting promotes study and adoption of scientific methods to secure maximum efficiency in industrial, commercial and other spheres, as compared to financial accounting. Financial accounting mainly draws conclusions on the basis of post facto data long after the operations are put through and expenditure were incurred enabling score keeping or at best statistical analysis. Therefore, role of cost accountants go beyond a financial accountant and they help the management in regulating production operations and processes of production.
The members of the Institute are the driving force in the team of management while in employment, and as Cost Auditors, Advisors and Consultants in practice.

There are several areas of practice available for Cost Accountants, a list of which is given below:

Independent practice
There is vast scope for practice by a Cost Accountant for which he has to obtain Practice Certificate from the Institute. Details in this regard are available in the “Membership Section” of the Institute website: http://www.icmai.in A Cost Accountant may set up the practice at his own as Proprietor or set up a new partnership firm with like-minded Cost Accountants in practice or may be admitted as new partner in the existing firm of Cost Accountants in practice. His clientele include private and public companies, large, medium and small scale undertakings, partnership and proprietary concerns, industrial, commercial and service undertakings etc.
The Fields for Practising Cost Accountants are divided into two parts:
a) Audit areas and
b) Certification and Consultancy areas. These areas are further bifurcated under Central and State Governments.

Summarized position in respect of Fields for Practising Cost Accountants is as follows:
a) Audit areas:

  • Cost Audit – Corporate Sector
  • Compliance Audit of Reserve Bank of India (India’s Central Bank) for the purpose of Lending under Consortium Arrangement / Multiple Banking Arrangements. Cost Audit – Co-operative sector
  • VAT Audit under various State Value Added Tax/ Rules. Internal Audit of Companies including SEBI and NSDL
  • Stock Audit for Banks. Central Excise Audit. Concurrent Audit
  • For Details Contact:
    CAPS GROUP OF EDUCATIONAL INSTITUTIONS
    562, Behind KRIMS Hospital, Central Bazar Road, Ramdaspeth, Nagpur – 440010.
    Tel. (0712) 2437798, 2467536, 2421562.
    Website: capseducation.org,      facebook.com/CAPSEducation       E-mail: capseducation@gmail.com
    ICWAI Nagpur Branch Address: ICWAI Bhavan, 243/3, Laxmi Nagar, Nagpur– 440022.
    Tel. no. +91712 - 2227829, 2228541 Email - nagpur@icwai.org Timing – 06.30 PM to 08.30 PM Mon to Sat