ICWA Course or CMA Course
Institute of Cost & Works Accountants of India (ICWAI) has changed it’s name into The Institute of Cost Accountants of India (ICAI). Also ICWA course has changed into CMA course. There is no difference between ICWAI and CMA, and they are the same. They are two different words used to describe one single thing. ICWAI stands for Institute of Cost and Work Accountant of India whereas CMA stands for Cost management accounting. Apart from the literal meaning there is no difference at all. There are 3 stages in ICWA course i.e., CMA Foundation, Inter and Final.
If you want to become Cost management accountant, you should complete these three stages of ICWA course. Students who have passed 10+2 are eligible for the ICWA Foundation exam.
The Institute of Cost Accountants of India conducts ICWAI Foundation exam four times in a year in the months of March, June, September and December. If you have passed ICWA Foundation exam, then you are eligible for ICWAI Inter. If you have any graduate degree, you are exempted from ICWAI Foundation exams. You can directly enter into ICWAI Inter.
Note : Present ICWAI Foundation, Inter and Final exams conducting on the basis of Syllabus 2012. Do you know Institute of Cost and Works Accountants of India made some changes in ICWAI Foundation, Intermediate and Final syllabus from 2016. So From 2016 ICWAI Foundation, Inter and Final exams will be conducted on the basis of Syllabus 2016.
What are the Subjects in ICWA Course Foundation Inter and Final
Total 20 papers in ICWA Foundation, Inter and Final exam.
- 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
- 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 Accounting
- Paper 11 : Indirect Taxation
- Paper 12 : Company Accounts & Audit
- 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
(a) For joining Foundation Course
As per existing provisions a candidate can join CMA Foundation Course and offered provisional admission to the Course while pursuing 10+. However, the student shall be eligible to appear Foundation Course after qualifying 10+2 Examination. So, qualifying 10+2 examination makes the student eligible to get converted from Provisional to Regular status. The conversion is done on the basis of submission of application along with the Pass Certificate/ Mark Sheets (qualifying) for Class 10+2.
This provisional time period of his term of admission to the date of conversion to regular student status is now extended upto 36 (thirty six) months instead of 6 (six) months.
(b) For joining Intermediate Course (while pursuing their Under Graduate studies)
As per existing provisions a candidate can join CMA Intermediate Course would be offered provisional admission to the Course while pursuing their undergraduate courses/studies. The student shall be eligible to appear Intermediate Course only after qualifying Graduation Examination. So, qualifying Graduation examination makes the student eligible to get converted from Provisional to Regular status.
This provisional time period of his/her term of admission to the date of conversion to regular student status is now extended upto 18(eighteen) months instead of 6 (six) months.
However, students who would be joining Intermediate Course after qualifying CMA Foundation/CS Foundation/Intermediate by whatever name called qualified Examination of the Institute of Chartered Accountants of India, shall be considered as Regular Students and shall be eligible to appear in the Intermediate Course Examination even during their pendency of undergraduate courses.
Eligibility for Admission:
(a) A candidate should have passed Class 10 or equivalent from a recognized Board or Institution.
(b) Passed Senior Secondary Examination under 10+2 scheme of a recognized Board or an Examination recognized by the Central Government as equivalent thereto or has passed National Diploma in Commerce Examination held by the All India Council for Technical Education or any State Board of Technical Education under the authority of the said All India Council, or the Diploma in Rural Service Examination conducted by the National Council of Higher Education.