ICWA full form eligibility history courses all details

ICWA full form eligibility history courses all details

icwa full form: ICWA stand for Institute of  Cost and Works Accountancy. Nowadays, ICWA calls ICAI (Institutes of Cost Accounts). This institute provides CMA courses. CMA stand for Cost Management Accounting. The minimum duration of courses that ICAI provides is 36 months. 

Course:ICWA CMA Course
ICWA Full Form:The Institute of Cost & Works Accountants of India – Cost Management Accounting course
CMA Full Form:Cost Management Accounting
Conducting Body:Institute of Cost Accountants of India
Duration:Minimum 8 months

The official website of the ICAI is https://icmai.in/. The courses provided by ICAI can be classified into three stages:

  1. Foundation
  2.  Intermediate
  3. Final

By pursuing courses provided by ICAI, one can make a future in a cost management account. This institute help students develop professional credentials and every skill they need to succeed as a cost management accountant.

ICWA History

  • In 1994 ICAI was established under the 1913 company act. The starting aim of the ICAI was to control, improve and promote the cost accounting field.
  • There are many amendments done in ICWA by Lok sabha and Rajya sabha in 2011 and passed in 2012.

Eligibility: ICWA CMA Foundation

Should have passed class 12 or any equivalent examination recognised by the government.

Or

Have passed National Diploma in Commerce Examination organised by AICTE(All India Council for Technical Education) or by the State Board of Technical Education.

Eligibility: ICWA CMA Intermediate

Should have passed class 12 or any equivalent examination recognised by the government and completed the foundation program provided by ICAI.

Or

Have a bachelor’s degree in any subject except for fine arts.

Eligibility: ICWA CMA Final

  • The aspirant should have completed 10+2
  • Aspirants who have a graduation degree in any field except Fine Arts
  • Must have cleared all the examinations of the intermediate course.

Duration to complete the ICWA courses:

  • The minimum duration to complete the ICWA CMA foundation is 8 months. 
  • The minimum duration to complete ICWA CMA intermediate course is 10 months.
  • The minimum duration to complete ICWA CMA Final is 18 months.

ICWA Syllabus: Foundation

There are four subjects under the foundation course:

  • Fundamental of Economics
  • Fundamentals of Law and Ethics
  • Fundamentals of Accounting
  • Fundamentals of Business Mathematics and Statistics

ICWA Syllabus: Intermediate

There are eight subjects under the intermediate course:

  • Direct Taxation
  • Cost Accounting
  • OMSM: Operations and Strategic Management
  • Cost & Management Accounting/Financial Management
  • Financial Accounting
  • Law & Ethics
  • Indirect Taxation
  • CAA: Company Accounts & Audit

ICWA Syllabus: Final

  • SFM: Strategic Financial Management
  • Corporate Law & Compliance
  • Corporate Financial Reporting
  • Direct Tax Laws; International Taxation
  • SCMD: Strategic Cost Mgt: Decision Making
  • Cost & Management Audit
  • Indirect Tax Laws, Practice
  • SFP: Strategic Performance Mgt & Business Valuation

CA or ICWA CMA

Both ICWA CMA and CA are the courses for the commerce student, CA is a chartered accountant who works in taxation, accounting and auditing, and for pursuing CA, one should have completed class 12th. Still, for ICWA CMA, one can pursue these courses after class 10th.

CS or ICWA CMA

CS is a company secretary who deals with the company records, maintains taxation, and guides the company’s related financial issues. One can pursue CS after 12th, whereas CMA courses are about financing knowledge, and one can pursue these courses after 10th.

FAQs

Q. What is the ICWA course?

Ans: ICWA institute provides CMA courses. CMA stand for Cost Management Accounting. The minimum duration of courses that ICAI provides is 36 months. 

Q. What is the salary of ICWA?

Ans: Minimum salary is around 4 lakh per annum.

Q. What is the eligibility for ICWA?

Ans: In some courses, you can be eligible after completing the 10th. For others, you have to pass the 12th class and have graduated.

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