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ICWA stands for Institute of Cost and Work Accountants of India. It is the authorized institute that offers the Cost and Works Accountant (CWA) course and regulates the profession of CWA in India. The CWA course is also known as CMA- Cost Management Accounting. The course can be pursued after the 10th standard. Like CS, this course is also completed at three levels- the foundation or first level, the intermediate or executive level, and the final or professional level. Cost and Works Accountants or Cost Management Accountants are in great demand in the private sector, banks, financial institutes as well as govt. sector.
Much like CA, CWA can be pursued through two routes.
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The ICWA course is divided into three primary stages- the Foundation stage, the Intermediate Stage, and the Final Stage.
Aspiring candidates must meet the eligibility criteria to emerge out as successful ICWA candidates. The essential outline eligibility criteria for candidates is that he/she should have secured a minimum aggregate from a recognized board or institution.
The duration for ICWA Course is different for each Stage of examination.
However, the total time taken to complete the ICWA program depends on the aspirant’s dedication and focus during each Stage of the Course.
The approximate Fee Structure for the ICWA course is different for three stages of the Course.
The Admission Procedure for ICWA will be based on the ICWAI entrance examination conducted by the ICAI (Institute of Cost Accountants of India) for all the three stages of the exam- the Foundation, Intermediate, and Final exam. The ICWA examination is conducted twice in the same year- June and December.
For those candidates seeking to apply for the ICWA course exams in December, are needed to apply latest by June 30. Those candidates seeking to apply for the ICWA course exams in June are needed to reply latest by December 31 of the previous year.
With the advancement of demands in management positions, costs, and the economy, ICWA graduates’ demand is on a rapid rise. ICWA graduates have a high demand in the private sector, public sectors, government sectors, finance and banking sectors, training sectors, development agencies, and the education industry. ICWA graduates hold significant positions in managerial positions available in various industries and organizations under the public and private sectors.
ICWA graduates get employed in some popular areas such as developmental agencies, consultancy firms, service industries, stock exchanges, company affairs departments, the public utility sector, research organizations and training centers, and other regulatory bodies.
The following subjects would be studied during the three levels of the CWA course:
Cost and Works Accountant is a much-in-demand profession. You can work both as an employee well as an independent professional. The job profiles that you can work for are Cost Accountant, Auditor, Finance Manager, Financial Consultant, Chief Internal Auditor, Finance Controller, and Cost Controller.
Answer: The ICWA course is divided into three primary stages- the Foundation stage, the Intermediate Stage, and the Final Stage. However, aspiring candidates must meet the eligibility criteria to emerge out as successful ICWA candidates. The essential outline eligibility criteria for candidates is that he/she should have secured a minimum aggregate from a recognized board or institution.
Answer: ICWA graduates get employed in some popular areas such as developmental agencies, consultancy firms, service industries, stock exchanges, company affairs departments, public utility sector, research organizations and training centers, and other regulatory bodies.
Answer: Asprising Candidates require skills that aid the regulation and management of cost accounting methods and procedures. They must possess an in-depth knowledge of standard procedures, concepts, and practices in the related Industry. Finally, candidates must possess adequate presentation skills and should be able to perform several tasks related to the field.
Answer: ICWA is a cost accounting degree that equips individuals with an in-depth knowledge of the management of finance competently. While CA is a qualification designed in accounting that may be pursued right away after the twelfth exams