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Institute of Cost and Works Accountants is one of the leading financal schools in India. Since its inception in 1959, the institute has contributed a lot by producing a bunch of scholars in the world of finance and business. The institute holds the distinction of being one of the premier financial institutions in India.
If you’re in bafflement that which field would better suit you post 12th, then have you ever taught to give a shot to ICWA? With the best utilization of globalization, today every private firm is keen on appointing a cost accountant that would promote, monitor the financial information from every department of the firm. If you think that you’re good at all the above mentioned areas then Cost Accountancy is the option to go with. To be a cost accountant is not so easy job as it sounds. Passing big hurdles like entrance exam and three stages of course will lead you to the aim. The profession of Cost Accountancy is mainly promoted by ICWA. Hence, it’s better to enroll under ICWA. Every year, ICWA appoints the best students for its cost accountancy course. Through the test, the institute judges the comprehensive understandings of students in areas like cost and financial management, communication skills and capability to maintain a fine balance between expenditure and the means. The examination is held twice a year i.e. one in the month of June and another in December.
ICWA Registration / Application Form
Candidates, who are interested in appearing for ICWA entrance exam, have to purchase the information brochure. The cost of the brochure is Rs.200, which can be obtained from the ICWA headquarter or any of the regional or chapter offices dispersed all over the country. Candidates, who are interested in receiving the brochure by post, must send a demand draft of Rs. 250 drawn in the favor of Institute of Cost Accountants of India –SIRC, payable at Chennai.
ICWAI Application Form
ICWA Exam Dates
The entrance exam for ICWA is held twice a year i.e. in the month of June and December. Candidates wishing to apply for ICAI Foundation examination for December term are required to apply latest by 30th June of the same year. At the same time candidates wishing to apply for June term are required to apply before 31st December of the previous year.
Registration for ICWA intermediate examination is open throughout the academic year. However those wishing to apply for June term are required to do so before 30th November of the previous year and those wising to apply for December term examination are required to do so before 31st May of the same year.
The foundation course exam comprises of four papers i.e. Fundamentals of Economic & Management, Fundamentals of Accounting, Fundamentals of Laws & Ethics and Fundamentals of Business Mathematics and Statistics.
Paper 1: Fundamentals of Economics and Management
Paper 2: Fundamentals of Accounting
Paper 3: Fundamentals of Laws and Ethics
Paper 4: Fundamentals of Business Mathematics & Statistic
Intermediate Course New
Paper 5 : Financial Accounting
Paper 6 : Laws, Ethics and Governance
Paper 7 : Direct Taxation
Paper 8 : Cost Accounting and Financial Management
Paper 9 : Operation Management & Information System
Paper 10: Cost and Management Accountancy
Paper 11 : Indirect Taxation
Paper 12 : Company Accounts and Audit
Final Course New
Paper 13- Corporate Laws and Compliance
Paper 14- Advanced Financial Management
Paper 15- Business Strategy & Strategic Cost Management
Paper 16- Tax Management and Practice
Paper 17 : Strategic Performance Management
Paper 18- Corporate Financial Reporting
Paper 19- Cost and Management Audit
Paper 20- Financial Analysis & Business Valuation
The foundation course exam will have multiple choice questions, where candidates have to darken the oval spot in OMR answer sheet. The exam will be held in two sessions on a single day. Paper I comprises of Organizations & Management Fundamental and Accounting, whereas Paper II features Economic & Business Fundamentals and Business Mathematics and Statistics Fundamentals.
Candidate should keep one thing in mind that CA is a professional course hence success can only be achieved if practical approach is adopted. Mugging out thoroughly the whole night before the exam won’t work. Try to make proper time table for your studies and ensure that you are implementing the time table. Make such a schedule for preparation that you can easily allocate 2-3 hrs to each subject. Keep changing your time table such that you don’t get bored of following same schedule. Make sure that you refer to only those study materials by the institute.
ICWAI Preparation Tips ICWAI Coaching Institutes
ICWAI Sample Papers
ICAI Foundation Examination
For June Term Examination apply before 31st December of previous year and for December Term Examination apply before 30th June of the same year.
ICAI Intermediate Examination
For June Term Examination apply before 30th November of previous year and for December Term Examination apply before 31st May of the same year.