Cost & Management Accountants - Study and Training

by , Renowned Career Counsellor
This Article is taken from Mrs. Kum Kum Tandon's book After 10+2 And Beyond - Humanities & Commerce chapter No. 7 titled Finance and Accounts



The Institute of Cost and Work Accountants is the only recognised statutory professional organisation and licensing body in India specialising exclusively in Cost and Management Accountancy. Cost and Work Accountancy can be studied after +2 or after graduation with the institute.

The study goes through 3 stages - Foundation course, Intermediate course and the final course. Students must pass the exam of each stage to move on to the next. Graduates and some specified categories get exemption from the Foundation course.

ICWA foundation course


Admission to the foundation Course is open to students who have passed the Senior Secondary School exam under 10+2 scheme or the national Diploma in Commerce examination of the All India Council of Technical education or any State Board of Technical education under the authority of All India Council or Diploma in Rural Service examination conducted by the National Council of Higher Education. Age - 17 years.


Foundation course examination was held in June 1994 for the first time. Students on completion of the prescribed syllabus can take the examination. The completion of the foundation course entitles the student to register himself for the ICWA programme.

Direct admission after graduation

Eligibility- The following categories are exempted from the foundation course:

  • Passed foundation course
  • Graduates
  • Honours Graduates

Post Graduates or MBA's (IIM)
Engineering Graduates of a university or any of the Indian Institute of Technology or the Indian Institute of Science

hose who have passed the final examination of the Institute of Chartered Accountants of India or England and Wales, or Scotland or Ireland or the Final examination of the Institute of Company Secretaries of India

  • Section ‘A' and ‘B' Examination of the Institute of Engineers
  • Subordinate Accounts Service Examination conducted by the Central/State Governments organisations
  • Part I and II of Banking examination.

Age 18 years

Compulsory coaching

It is obligatory on part of the students to undergo and complete a course of tuition either through postal or oral teaching to take the Intermediate or Final exam. The postal coaching is conducted by the Coaching Directorate through its regional councils . Oral coaching is given at recognised centres and students may choose the centre for such tuition.

The normal period allowed for completion of postal tuition for Intermediate or Final examination is 18 months under the new syllabus. Students may be eligible for coaching completion certificate in 12 months for Intermediate or Final as a whole or 6 months for one group in Intermediate or Final. A minimum time gap of 6 months per group is required. For students who are graduates/ postgraduates the postal coaching is slightly modified. Oral coaching is also organized for those opting for this pattern of study. This is conducted in the Semester pattern.

Students enrolled from December to June can take the exam in December. While those appearing for the June exam must complete their enrollment from June to December.


The new syllabus focuses on knowledge of Management, Strategy, Financial Reporting & Regulatory Functions.

Foundation Course- Organisation& Management Fundamentals, Accounting, Economics, & Business Fundamentals, Business Maths & Statistic Fundamentals

Intermediate Course- Group 1- Financial Accounting & Commercial & Industrial Laws & Auditing, Applied Direct Taxation

Group 11- Cost & Management Accounting, Operation Mgmt & Information Systems, Applied Direct Taxation

Final Course Group 111- Capital Market Analysis & Corporate Laws, Financial Mgmt& International Finance, Management Accounting- Strategic Mgmt, Indirect & Direct Tax Mgmt.

Group 1V- Mgmt Accounting- Enterprise Performance Mgmt, Advanced Financial Accounting & Reporting, Cost Audit & Operational Audit, Business Valuation Management

Associateship of the Institute of Cost and Work Accountants

Students completing the Intermediate and Final exams of the Institute can apply for the associateship after they have 3 years of practical experience. This experience must cover different branches of costing or industrial accounting. The practical training can be done after the final exams or along with the study.


Registration - Rs 500/-

Postal Coaching ( compulsory) Rs 3,500/-

Oral coaching - Rs 3500)

Postal Coaching both groups - (Rs 7000)

Oral Coaching both groups- Rs 11,000Cost & Management Accountants - Study and Training

Postal Coaching both groups Rs 9000

Oral Coaching both groups Rs 14000/-


Addresses of the Institute and its Regional Chapters

States                                                                                        Address

                                                              Eastern Region


Assam, Bihar, Manipur, Meghalaya, Nagaland,               Eastern Indian Regional Council

Orissa, Tripura, West Bengal, Arunachal Pradesh,         of ICWAI, 84, Maish Mukherjee Road

Mizoram, Andaman and Nicobar Island                            Calcutta 700025 www.eicicwai.com

              Northern Region

Haryana, Himachal Pradesh, Jammu and Kashmir,       Northern Indian Regional Council

Punjab, Rajasthan , Uttarnchal, Uttar Pradesh                 of the ICWAI,  ICWAI Bhavan

Union territories of Chandigarh and Delhi                       3, Institutional Area, Lodi Road

                                                                                              New Delhi 100003


           Western Region

Gujarat, MP, Maharashtra, Goa, Daman, Diu and          Western India Regional Council of

Dadra and Nagar Haveli                                                     the ICWAI, Rohit Chamber (4th flr)

                                                                                              Janambhoomi Marg, Fort,

                                                                                              Mumbai 400001


              Southern Region

Andhra Pradesh, Karnataka,                                             Southern Indian

Kerala, Tamil Nadu,                                                            Regional Council of ICWAI

Pondicherry & Lakshwadeep                                            65, Montieth Lane, Egmore, 

                                                                                             Chennai600008 www.sircaficwai.com

There are 96 chapters located located across the country.

Exclusively for ICWAI Students

Indira Gandhi National Open University, Maidan Garhi, New Delhi 110068

Cost & Management Accountants - Study and TrainingB. Com with majors in Financial and Cost Accounting( B.Com F& CA) This program incorporates all courses of Foundation & Intermediate Course of ICWAI. Students can study for B. Com along with ICWAI. Students get exemption from all those courses in B. Com (F & CA)on completing ICWAI intermediate

Eligibility 10+2 and registration in ICWAI Foundation course Duration- 3 years and maximum6 years . Course is in Hindi & English.

M. Com in Management Accounting & Financing Strategies . Thsi consists of ICWAI Final courses On completion the students are exempted from all subjects covered in ICWAI final.

Eligibility- Graduates with ICWAI Intermediate course. Duration 2 years and maximum 5 years.


Note- Some universities offer cost and works accounts courses. Refer to article Financial Managers -Study and Training.


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Discussion Board

Showing 1-10 of total 14 comments
Jovito Fernandes 6 years ago

I'm doing my Bcom final year student and I'm interested in doing COSTS & MANAGEMENT ACCOUNTANT COURSE in GOA. Can you give me the details.And how will it be useful and what is the scope oe doing COSTS & MANAGEMENT ACCOUNTANT COURSE

Priya Hi Jovito,

The details about the course for the graduates is mentioned in the above article itself. As for the scope is concerned, There are various opportunities to be explored in financial institutions, government departments, banks- both public sector and private, insurance companies, international organizations, multinational companies, industry - both private and public sector, investment companies and so on. You can look up to those as well.

All the Best!
4 years ago
Devarajan778 5 years ago

The syllabus contents posted above are old.

There is a new syllabus now.

The contents of the course have changed drastically and now are in tune with the recommendations of the IFAC (The International Federation of Accountants) both in terms of contents and training requirements.

If you want to know more about the new syllabus of ICWAI, please visit www.icwai.org.

You may also visit the CMA India portal


and post your queries there.


Priya Thanks for the information
4 years ago
rajat kumar gupta 4 years ago

which one is batter accoding to the future ?
please give me a brief INFORMATION?

Priya Hi Rajat,

Both are good but quite similar in the nature of the jobs as both are accounts based. Both ICAI & ICWAI are bodies incorporated by law. CAs & CWAs both have statutory powers & both can Practice.
But there is a difference which segregates the two of the careers . The statutory powers enjoyed by CAs are much wider in scope than CWAs.
CAs can do all types of Audit like Statutory audit, tax audit, internal audit etc. However, CWAs can do only Cost Audit u/s 233B of the Companies Act 1956.son the scope of CS is limited when compared to CA.

All the Best!
4 years ago
Nandana224 4 years ago

Hello Sir/Madam,
I am interested in taking up a course in Cost and Management Accounts, however, I am a full time employee, hence would like to know more about the article that I have read regarding the course offered by The Institute of Cost and Work Accountants and more about the Oral coaching timings.
Also, would like to know whether this course would help me in creating a career path in the field of Finance and what is the best way of working this out considering I cant get off my day to day work.

Priya Hi Nandana,

It is preferred to pursue any course / training on regular basis. It would not be possible to mention the course timings for the Oral coaching. To know about the same it would be important to contact the institute directly or you can also contact the regional centers which are situated nearer to you.

All the Best!
4 years ago
Elizabeth Gabriel 3 years ago

I am a PUC - PCMB student want to take up icwai in bangalore, Is it necessary to take up B.Com or BBM or can I continue with Bsc. what if I don't get for B.Com since I am a science student? pl. advise

anjali92160 3 years ago

anjali sharma: i have heard that cwa course is not good enough. it has got very less scope and people have difficulty in getting gud job after this course?is that true .plz help

priyanka91699 a year ago

is maths is compulsory in 12 for icwa

karthik45180 a year ago

Do they have branch in mumbai?

bandike.Siva a year ago

Completed B.com how much Percentage of Marks require in B.com
for the Eligibility of ICWAI Inter

vani38340 11 months ago

i'm MBA finance graduate i'm having 2+ exp as Asst Reconciliation Accountant, i want to enhance my knowledge and career . I'm planing to join to CMA. any one can advice me which course suitable for reach my goals.

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