Cost Accountant collects assimilates, collate and analyse the financial information from all areas of an organisation. It is one of the most essential management services. With increase in competition and consequent economic pressures, cost and management accountancy has been finely interwoven into the main fabric of management. There is no denying the fact that an organisations success or failure is dependent on the quality of information made available to the management. This is where a cost accountant's productivity is of vital importance to the company.
1. Educational Qualification
2. Age - 17 years of age for joining foundation course and not less than 18 years for joining intermediate course.
Cost Accountant Required Skills
Students who have registered themselves with the Institute of Cost and Works Accounts of India (ICWAI) are required to pass the Foundation Examination.
Eligibility/conditions for this course are as follow:-
Candidates who have passed/appeared senior secondary (10+2) can apply for foundation course.
Important:- Exams are held twice a year i.e. on 18th to 21st June and on 26th to 29th December.
For June Term Examination apply before 18th December of previous year and for December Term Examination apply before 26th June.
The minimum duration of the course is eight months.
How and Where to Register for Foundation Course:
All students shall submit their Postal Application form, duly filled in with all the relevant documents and fee etc. to their respective Regional Councils only. Regional Councils and area covered by the region are given at the end.
Course of Study
The minimum duration of this course is ten months.
Eligibility for Admission:
Candidates those who have passed the foundation course and are 18 years or above can apply for intermediate course.
Course of Study
Paper 5: Financial Accounting (One Paper: 3 hours: 100 marks)
Paper 6: Commercial & Industrial Laws and Auditing (One Paper: 3 hours: 100 marks)
A. Commercial & Industrial Law (50 marks)
B. Auditing (50 Marks)
Paper 7: Applied Direct Taxation (One Paper: 3 hours: 100 marks)
Paper 8: Cost & Management Accounting (One Paper: 3 hours: 100 marks)
Paper 9: Operation Management and Information Systems (One Paper: 3hours:100 marks
A. Operation Management (50 marks)
B. Information Systems (50)
Paper 10: Applied Indirect Taxes (One Paper: 3 hours:100 marks)
One can apply for the final examination after one clearing all the eight papers in the Intermediate.
Final exam syllabus include
The minimum duration to complete this course is Eighteen months.
Important:- Candidates of Foundation, Intermediate and Final Examinations can solve their questions in Hindi language.
Examinations are held twice in a year i.e in June and December at various centers of the country and
At three Overseas Centres – i.Dubai, ii.Sultanate of Oman and iii.Botswana
Success Ladder to be a Cost Accountant
To reach this Level one has to apply any one of the following address in prescribed form according to their area of residence.
Address of Regional Councils of ICWAI
Western India Regional Council
"Rohit Chambers",4th Floor
Mumbai - 400 001
Ph : 022-22872010/ 22841138/ 22043406/ 22043416
Fax : 91- 022- 22870763
Web site : www. icwai-wirc.org
The State of Chhattisgarh, Gujarat, Madhya Pardesh, Maharashtra, Goa and the Union Territories: Daman Diu., Dadra, and Nagar Heveli
Southern India Regional Council
4, Montieth Lane, Egmore,
Chennai - 600 008
Fax : 91- 044- 28554651
The State of Andhra Pradesh, Karnatka, Kerala, Tamilnadu, Pondicherry and the Unition Terrritory: the Lakshadweep
Eastern India Regional Council
84, Harish Mukherjee Road,
Kolkatta - 700 025
Ph : 033 -24553418 /24555957
Fax : 91 033-2455-7920
The States of Assam, Arunachal Pradesh, Bihar, Jharkhand, Manipur, Maghalaya, Mizoram, Nagaland, Orissa, Tripura, West Bengal, Sikkim, the Union Territories: The Andaman and Nicobar Islands and Foreign Countries.
Northern India Regional Council
3, Institutional Area, Lodi Road,
New Delhi - 110 003
Ph : 011 - 24626678 / 24615788
Fax : 24622156
The States of Delhi, Haryana, Himachal Pradesh, Jammu and Kashmir, Punjab, Rajastan, Uttar Pradesh, Uttraanchal and the Union Territory: Chandigarh.
Once passed the examination the candidate can serve at any of the following capacities at various positions given below
ICWAI programme has been recognised by Association of Indian Universities for admission to Ph. D courses in commerce and allied subjects.
Cost Accountant Job Description
With the cut throat competition in the industry at various levels because of the increasing consumerism the industry is in the pursuit of reducing their cost of production to maintain themselves in the race. That is where the professional of this filed are required because of their expertise. Their job involves cutting the cost of production to be competitive.
There is no minimum or maximum limit for the salary of Cost Accountant. It vary approximately from Rs. 25,000 to Rs.1,00,000 depending upon the knowledge and expertise of the individual Cost Accountant. Due to their utmost importance in the management of any organisation these professional are suitably compensated for their services to their respective organizations.