Those who want to start working as cost accountant need to complete the ICWA exam which is divided into the stages – foundation, intermediary and final. The minimum age of application is 17 years and students who have completed their 10+2 can apply.
Student of the Foundation course have to study:
Fundamentals of Economics and Management
By providing a basic understanding of economics, this paper helps students to gain knowledge about the different aspects of management at the micro and the macro level.
Fundamentals of Accounting
Basics of book keeping and accounting, partnership accounts and bank reconciliation statement are some of the most important areas of study under this paper
Fundamentals of Laws and Ethics
This paper will teach one about regulatory compliance, needs and ethics that are expected from accounts professionals.
Fundamentals of Business Mathematics and Statistics
The paper includes arithmetic, algebra, calculus, statistical representation of data, probability, correlation and regression, measures of central tendency and dispersion, etc.
Subjects of the Intermediate course are divided into two groups such as:
The paper aims to provide a working knowledge of the concepts of accounting, along with information on the detailed procedures of financial accounting system.
The aim of the paper are to give an idea about the important laws which are relevant to a business entity and to provide information about corporate governance. Students are also made aware of the ethics and values expected of companies and professionals.
This paper teaches about the relevant direct tax laws and the procedure for assessing tax liabilities for a number of assesses.
Students learn in depth about the Generally Accepted Cost Accounting Principles and Techniques for understanding, managing and classifying cost comments to aid in better managerial decisions.
The aim of this course is to provide an in depth understanding of the various processes of conducting a business, planning production and the functioning of information systems.
This paper deals with the detailed aspects involved in cost ascertainment systems and provides students with much needed skills and information for employing economics to decision making at managerial levels.
The topics covered by this paper are Canons of Taxation, Customs Laws, Central Excise, Service Tax, EXIM Policy, basic concepts of international taxation & transfer pricing in the context of indirect taxation and Central Sales Tax Act and VAT Act.
This paper provides a basic understanding about auditing and deals with in depth knowledge regarding the know-hows of preparation of financial statements.
In their final course, students go through the course of:
There are two broad sections under this category and these are – corporate laws and corporate governance and responsibilities.
Students get to learn about the ways of setting financial goals, managing resources, managing financial risks and the like through this paper.
Students are expected to show skills of evaluation, analysis and synthesis in cost and management accounting along with an idea of what is going on around them after completion of this course.
The main areas of study under this paper are Central Excise, Customs Law, Service Tax, Export Promotion Schemes, Foreign Trade Policies, EOU, SEZ, EXIM Policy, Central Sales Tax and VAT Act, Income tax, Wealth Tax, international taxation and tax practice and procedures.
This course helps students to understand the importance of performance management for strategic decision making.
The aim of this paper is to provide students with an understanding of ways to recognise, measure, disclose and analyse information in a financial statement belonging to an entity so that he or she is able to address the issues of stakeholders.
Students are expected to learn the ways to identify mistakes in financial statements and take proper action so that nothing tries to malign the financial image of an organisation or an individual.
37 TH RANK
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70 Marks in Indirect taxation
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75 Marks in Financial Accounting
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75 Marks in Costing
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