ICWA (Institute of Cost and Works Accounts Course): After 10th and 12th Courses, Duration, Top Colleges, Fees, Admission Process, Syllabus, Job Opportunities, and Salary
Various institutes provide Cost and Works Accounts courses which are also known as ICWA. This is a professional course that will help you acquire employability skills.
Cost and Works Accounts Course: What is that?
The ICWA (Institute of Cost and Works Accounts Course) field develops knowledge of the regulation of business within the available resources. Professionals in this field are responsible for collecting and analyzing all financial information. In this field, strategic thinking and work experience are required. Candidates who want to become a Cost and Work Accountant need to pursue ICWA (Institute of Cost and Works Accounts Courses. The courses will increase your knowledge of regulating finance management competently. To build a career in cost and works account, read the below information about courses, eligibility criteria, colleges, fees, jobs, and salary.
ICWA Course all updates regarding Duration, Eligibility, Top Colleges, Fees, Admission Process, Syllabus, Job Opportunities, and Salary
Are Cost and Works Accountsa Course that everyone can take?
The professional, cost accountancy entry-level course can be pursued after completing class 10 or class 12. It is also okay if you have passed 12th from the science stream. Further, the eligibility criteria for all level ICWA course is provided below.
Best Courses to Pursue InCost and Works Accounts
There are three primary stages in the ICWA courses which are listed below. You have to successfully cross the stages to pursue a career in this field.
- Foundation Course
- Intermediate Course (Part I)
- Intermediate Course (Part II)
- Final Course (Part III)
- Final Course (Part IV)
Duration of Courses
The ICWAI or Foundation course of the Institute of Cost and Work Accountants is a degree-type course that has a duration of 6 months. The studies related to cost and management accountancy are associated with this course. The ICWA or Institute of Costs and Works Accountant Intermediate courses like Part I and Part II are offered in India with a duration of a minimum of 10 months. Then, the duration of the Institute of Costs and Work Accountants Final courses like Part III and Part IV in India is a minimum of 18 months.
Required skills for Cost and Works Accounts Course
For ICWA, candidates require the skill set to present themselves well in the organization. Candidates should have in-depth knowledge of standard procedures as well as other knowledge related to the industry. Adequate presentation skills are also a must to perform well in this area. Other than this, they should know the management of cost accounting methods and procedures. These are the important things that play a very important role in this field.
Top Colleges
Below, the top institute for the ICWA course are listed. You can check them all to take admission to the courses you want.
1.) The Institute of Cost Accountants of India, Bangaluru, Karnataka
2.) Jamal Mohamed College, Tiruchirappalli, Tamil Nadu
3.) Tiruchirapalli Chapter of ICWAI, Tiruchirappalli, Tamil Nadu
4.) Visakhapatnam Chapter of ICWAI, Visakhapatnam, Andhra Pradesh
5.) Trivandrum Chapter of ICWAI, Thiruvananthapuram, Kerala
6.) Mysore Chapter of ICWAI, Mysuru, Karnataka
7.) Madurai Chapter of ICWAI, Madurai, Tamil Nadu
Eligibility Criteria for Admission
- A particular eligibility criterion is there for the admission to cost and works accounts course. Before doing other processes, candidates should meet the basic requirements.
- For the ICWA foundation course, it is required to clear class 10 or class 12 from a recognized board in India.
- A candidate with a minimum of 17 years old is eligible for the same course.
- Candidate should have completed class 12 from any recognized board in order to pursue ICWA intermediate course. Also, they must have completed either graduation or the foundation course in any field.
- Furthermore, it is required to finish the intermediate level of the ICWA course to get admission to the ICWA final course.
Admission Process
In India, the Institute of Cost and Works Accountants looks into admission to the cost and works accounts courses. Candidates need to appear for separate entrance exams for separate stages. For the next stage, they should be qualified at the previous stage. There is no exam other than ICWA to qualify for the three stages. ICWA intermediate entrance examination and ICWA final examination both are conducted by the institute to obtain the ICWA course. Candidates will become ready for their careers once they qualify for the entrance exams successfully. This is the only admission process, you need to follow for a career in ICWA.
Fees Structure
|
Sr. no. |
Colleges or University
|
Fees |
|
1. |
The Institute of Cost Accountants of India, Bangaluru, Karnataka |
INR 70,000 |
|
2. |
Jamal Mohamed College, Tiruchirappalli, Tamil Nadu
|
INR 2,00,000 |
|
3. |
Tiruchirapalli Chapter of ICWAI, Tiruchirappalli, Tamil Nadu |
INR 32,000 |
|
4. |
Visakhapatnam Chapter of ICWAI, Visakhapatnam, Andhra Pradesh |
INR 45,000 |
|
5. |
Trivandrum Chapter of ICWAI, Thiruvananthapuram, Kerala |
INR34,000 |
|
6. |
Mysore Chapter of ICWAI, Mysuru, Karnataka |
INR 37,000 |
|
7. |
Madurai Chapter of ICWAI, Madurai, Tamil Nadu |
INR 30,000 |
List of Subjects and a Syllabus for Cost and Works Accounts Course
The ICWA or Costs and works account course covers a lot of topics. Below, the common syllabus for level-wise ICWA course is given in a tabulated manner. Those subjects are really important to complete the courses.
Common Subjects and Syllabus for Foundation Course, Intermediate Course (Part I), Intermediate Course (Part II), Final Course (Part III), and Final Course (Part IV)
| Direct Taxation | Business Mathematics and Statistics: Fundamentals |
| Fundamentals of Economics | Indirect Taxation |
| OMSM: Operations and Strategic Management | SFM: Strategic Financial Management |
| Financial Accounting | Cost & Management Audit |
| Law & Ethics | Corporate Financial Reporting |
| Cost & Management Accounting/Financial Management | Cost Accounting |
| CAA: Company Accounts & Audit | Fundamentals of Accounting |
| Fundamentals of Law and Ethics | Laws and Ethics |
| Direct Tax Laws; International Taxation | Indirect Tax Laws, Practice |
| SFP: Strategic Performance Mgt & Business Valuation | Corporate Law & Compliance |
| Indirect Tax Laws & Practice, Cost and & Management Accounting and Financial Management | Strategic Cost Management – Decision Making |
| Operations Management and Strategic Management (OMSM) | Strategic Financial Management |
Responsibilities of Cost and Works Accounts Professional
After studying cost accounting, candidates have huge demand in all spheres. The professionals of ICWA perform different work depending on the organization. Some of their responsibilities are also mentioned below.
- Provide advice for profit planning.
- Take care of Statutory compliance and Taxation.
- Monitor internal control systems.
- Work on consolidation of accounts.
- Keep records of financial losses and all legal profits.
Job Opportunities and Salary after Cost and Works Accounts Studies
A number of job opportunities are available for those who have completed the ICWA course. Around the globe, the financial market of India is the most established one. The demand for ICWA graduates is increasing rapidly. All sectors such as finance, private sectors, government sectors, banking sectors, development agencies, public sectors, and the education industry offer good designations to candidates after completing cost and works accounts courses. Candidates can search for jobs for career options like Cost Controller, Managing Director, Chief Internal Auditor, Finance Director, and Accountant. There are some areas like consultancy firms, stock exchanges, developmental agencies, research organizations, company affairs departments, and the public utility sector that offers employment to ICWA graduates. Again, the top recruiters for ICWA are listed below for the candidates from where you can begin career as a professional.
- Government and Private Institutions.
- ALTRET Industries Pvt. Ltd.
- Inext Infotech Services.
- Zexus Air Services Pvt Ltd.
- Micro Inks Limited.
Frequently Asked Questions
What is the ICWA course admission process?
The Institute of Cost and Works Accountants of India is there who conducts the entrance examinations for the course admission. All three stages have their separate entrance exams for the same.
Does the ICWA course have a scope?
You may have noticed that the cost management accountant’s scope is expanding. Not only this but also the employment opportunities and pay scale are growing. Students who have an interest in financial characteristics or administration are perfect for this field.
What salary does a professional of ICWA earn?
The salary of ICWA depends on their professional level. At the entry level, they get a salary of around Rs. 4 Lakh per annum. As the level of CMA professionals goes up, they can earn up to Rs. 6 Lakh per annum.
What are the ICWA intermediate course eligibility criteria?
To enroll ICWA intermediate course, candidates are required to pass 10+2 or class 12 from any recognized board. Either, they should have completed a foundation course or graduated (Other than fine arts) from well recognized Indian university.
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