Institute of Cost and Works Accounts of India
by V.A.Ponmelil (All rights reserved by the author)
Institute of Cost and Works Accounts of India (ICWA)
The Cost and Management Accountant provides strategic management decision in terms of economic activities of an organization. By studying the Cost and Management Accountancy, it is possible to gain depth knowledge and perspective to manage business under given circumstances. There is only one professional body specialized in the field of Cost and Management Accountancy in India is the Institute of Cost and Works Accountants of India. It aims at imparting coaching and training in the subject of Cost & Management Accountancy. The Institute has four Regional councils across the country. The main aim of a cost accountant is to get specialized in navigating managerial decisions, stabilizing budgets and standards, assessing operational efficiency and the effectiveness of production and service management, and identifying accountability for profit variance. He is responsible for designing and implementing effective management information and control systems, planning costing systems and methods, inventory control incorporating mathematical models, investment analysis, project management, internal audit, cost audit, diagnosis in the case of sick industries, fund management, pricing planning, interpreting information and data related to business activities.
The candidates with 10+2 qualification can join the Institute's Intermediate course after qualifying the Foundation Course examination of the Institute. Even the students awaiting result of 10+2 examination may be permitted to appear in the Foundation Course examination. The career of the Cost and Management Accountant requires high sense of motivation, concentration and determination.
The four Regional Councils of ICWA are as follows
- Eastern India Regional Council of ICWAI
84, Harish Mukherjee Road, Kolkata – 700 025
· Northern India Regional Council of ICWAI
3, Institutional Area, Lodi Road, New Delhi – 110 003
· Southern India Regional Council of ICWAI
4 (old no 65) Montieth Lane, Egmore, Chennai – 600 008
· Western India Regional Council of ICWAI
Rohit Chambers, Janmabhoomi Marg, Mumbai – 400 001
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