Avadhut Desai

What is Cost Accountancy? How to become a Cost Accountant? Could you please provide the information about the course institutions and admission requirements?


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RE: What is Cost Accountancy? How to become a Cost Accountant? Could you please provide the information about the course institutions and admission requirements?

Surabhi Dewra
Surabhi Dewra
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Well,

Cost accountancy is basically a profession where you work for corporate houses to help them work efficiently in terms of financial matters. A cost and management accountant would collect data and financial facts of the organization and would analyze them to help reduce the cost to the company. A cost reduction and maintain efficiency in operations, going on is the main work and the area of expertise for any Cost and Management Accountant.

 

What does a Cost and Management Accountant do?

A cost accountant would manage inventory, review the cost invested and other such matters. The analysis of the ongoing financial processes is the area of work, a cost accountant will be seen at. A Cost and Management Accountant does the important work like navigating managerial decision, ensuring product and management efficiency and this professional will also be assessing the operational efficiency.

Dear Aspirant, It’s indeed a great profession which involves challenging work at a managerial level that sustains the concerned organization and enables it to achieve efficiency at all levels of financial and managerial levels. You can get into this profession to enlarge your career scope with the help of Professional Experts at CareerGuide.

 

Where to get admission for CMA - Cost and Management Accountancy?

The Institute of Cost Accountants of India (ICAI) is the apex and professional body which coordinates the developing procedure for the Cost and Management Accountant (CMA). Previously the institution was known as the Institute of Cost and Works Accountant of India (ICWAI) which afterward rechristened as ICAI. The ICAI conducts examination and oversees all the process till candidate is awarded the said profession title. You can find many other institutions which will be offering the same course for the same purpose but the CMA from ICAI is a famous one.

The nature of the CMA – Cost and Management Course:

The CMA contains three levels which are to be qualified respectively by the candidate.

Foundation Course

This level contains four papers comprising the subjects like Economics and Management, Accounting, Laws and Ethics and Business Mathematics and Statistics.

Intermediate Course

The Intermediate course will have two groups containing eight papers and the subjects like Accountancy, Financial Management, Taxation, Laws, Ethics and Governance and the Audit, etc.

Final Course

The Four Papers in this final course you will be appearing for will contain subjects like Corporate Laws, Financial Management, Cost Management and Tax Management, etc.

Computer Training

Apart from this, there will be 100 hours computer training and this is compulsory to appear in intermediate course.

Passing Requirements

To successfully pass the course you need to get 40% score in each paper and 60% aggregate for all the papers.

Admission Requirements and Eligibility Criteria:

  • A graduate from any discipline and the candidates who complete the foundation course are eligible for direct Intermediate Course.
  • A foundation course is a preliminary course and the 12th passed candidate can appear for the exam meant for the Foundation

 

  • After completing the both groups of the Intermediate Course, you can appear for the Final course and after it, you are required to undergo a Modular and practical training.
  • The admission for Intermediate/Final course remains open for all the year and the exams are conducted in June and December term for which admission must be sought before the last dates 31st January and 31st July of the same year.

 

The candidate who passes through this all above stages becomes a member of the ICAI which means the candidate becomes full-fledged professional as a Cost and Management Accountant. Dear Aspirant, you have chosen a good and best profession, I would say. For admission purpose and the complications therein you can talk to the Professional Experts who will be guiding you throughout the admission process and guide you to complete the whole course in minimum possible time successfully. Wish you all the best!

RE: What is Cost Accountancy? How to become a Cost Accountant? Could you please provide the information about the course institutions and admission requirements?

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