ALL ABOUT ICWAI COURSE - BOOKMARK THIS

1. Identification Form (For foundation course)

2. Form of Application for Registration (Form I) as A Student

3. Registration for Practical Training (Form T2)

4. Student Information Form

5. Form of Application for Enrollment For Foundation Postal Tution

6. Postal Coaching Form (Form I)

7. Application form for Obtaining Exemption(S)

8. Application form for Remitting Fees to the Institute

9. Journal Enrollment form (Postal)

10. Identity Card

Revalidation of Coaching Completion Certificate

In case a student desires to appear at the Institute's Examination after 3 years from the date of issue of coaching completion certificate( Postal or Oral), he/she shall have to undergo a short form of Postal Coaching. The student should apply in a prescribed form to enroll himself for the short form of coaching with requisite fees for Revalidation of Coaching Completion Certificate under REVISED syllabus.

Tuition fees, per stage for this short form of Postal Coaching for Revalidation of coaching Completion Certificate shall be as under:-

Intermediate      Rs. 800/- per stage

Final                 Rs. 1000/- per stage

• total absence of sight;

• visual acuity not exceeding 6/60 or 20/200 (snellen) in the better eye with correcting lenses; or

• limitation of the field of vision subtending an angle of 20 degree or worse.

• loss of sensation in hands or feet as well as loss of sensation and paresis in the eye and eye-lid but with no manifest deformity;
• manifest deformity and paresis but having sufficient mobility in their hands and feet to enable them to engage in normal economic activity;
• extreme physical deformity as well as advanced stage which prevents him from undertaking any gainful occupation, and the expression “leprosy cured” shall be constructed accordingly.

(d) “Hearing impairment”- Hearing impairment means loss of sixty decibels or more in the better ear in the conversational range of frequencies.

(e) “Locomotor disability”- Locomotor disability means disability of the bones, joints or muscles leading to substantial restriction of the movement of the limbs or any form of cerebral palsy.

(f) “Permanent and total loss of voice”- a disabled student has to submit a certificate of suffering from disability, certified by a physician/surgeon/oculist working in a Government hospital, as the case may be.

(g) mentally disabled persons : Persons diagnosed as having significantly lower than average intelligence and considerable problems in adapting to everyday life or lacking independence in regard to activities of daily living.

(h) Handicap: A disadvantage for a given individual, resulting from an impairment or disability, that limits or prevents the fulfillment of a role that is normal, depending on age, s*x, social and cultural factors, for that individual.

(i) Disability: Any restriction or lack (resulting from an impairment) of ability to perform an activity in the manner or within the range considered normal for a human being.

(j) Impairment: Any loss or abnormality of psychological, or anatomical structure or function.

Physically Challenged students, who are suffering from more than 50% disability stated above, (certified by appropriate Government Hospitals and showing degree of disability) are eligible for full exemption from payment of -

a) Postal Tuition Fee

b) Oral Coaching Fee

c) Re-enrolment fee

d) Student Practical Training Registration Fee

e) Group Discussion Fee

f) Business Communication Fee

g) Computer hands on Training Fee

h) Modular Training Fee

i) Exemption Fees for Computer hands on Training

j) De-Novo Registration Fee

k) Coaching Revalidation Fee

l) Subject Exemption Fee


However, the disabled student has to pay the Registration Fee and it is not refundable to the student.

Physically Challenged students should apply along with testimonials in support of their disabilities seeking refund/waiver of fees to the Director of Studies, ICWAI, 12, Sudder Street, Kolkata-700016.However, in case of refund the disabled student has to furnish the proof of all payments made to the Institute
 

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Download Form for switching over from Syllabus 2002 to Syllabus 2008. 

*Students who have passed or acquired exemption in any group or subject/(s) under 1994,1984 or earlier syllabus,but not appeared at all under syllabus 2002will have to appear for all the papers under Syllabus 2008.

Practice as Cost Accountant

A Cost Accountant may build up his own practice by obtaining a licence from the Institute which would enable him to practice as a Cost Accountant, either individually or in partnership with one or more members of the Institute in practice. His clientele include private and public companies, large, medium and small scale undertakings, partnership and proprietary concerns, industrial, commercial and service undertakings etc. The types of service a cost accountant may offer his clients are varied. Some of these are listed below:

Maintenance of Cost Records

As per Section 209 (1)(d) of the Companies Act, certain companies are required to maintain cost records pertaining to any class of companies engaged in production, processing, manufacturing or mining activities, such particulars relating to utilization of material or labor or to other items of cost as may be prescribed, if such class of companies is required by the Central Government to include such particular in the books of account. The cost accountants may assist these companies in maintaining the cost records relating to above.

Cost Audit

Where in the opinion of the Central Government it is necessary so to do in relation to any company required under clause (d) of sub-section (1) of section 209 to include in its books of account the particulars referred to therein, the Central Government may, by order direct that an audit of cost accounts of the company shall be conducted in such manner as may be specified in the order by a cost accountant.

Ministry of Corporate Affairs, the Cost Audit Branch, under section 209 (1) (d) formulates & notifies Cost Accounting Records Rules (CARRs) for various industries. Such rules prescribe the manner in which cost records are to be maintained by specified class of companies. The Branch also undertakes rationalization of existing CARRs to reflect the changes in technology, manufacturing processes and accounting standards.

Under section 233B, orders are issued to individual companies for conducting cost audit of cost records in accordance to Cost Audit Report Rules from a Cost Auditor appointed by the Board of Directors with the prior approval of the Ministry. 44 selected industries have been covered under statutory maintenance of cost accounting records under section 233-B of the Company Act.

Important industries/products so far covered by CARRs can be broadly classified as under:

• Agriculture Inputs: Insecticides, Fertilizers, Electricity and Diesel.
• Consumer Products: Milk Food, Sugar, Vanaspati, Tea, Coffee, Textiles, Paper, Jute Goods, Bulk Drugs & Formulations, Soaps & Detergents, Footwear, Cycles, Tyres & Tubes, Air- Conditioners & Refrigerators, Motor Vehicles, Cement, Electronic Products, Electric Lamps, Fans, etc.
• Industrial Products: Steel Plants, Steel Tubes & Pipes, Electric Motors, Power driven Pumps, IC Engines, Transformers, Generators & Machine Tools and Bearings, Electric Cables & Conductors, Motor Vehicles, Industrial Alcohol, Aluminium, Rayon, Nylon, Polyester & Dyes, Chemicals, Mining and Metallurgy, Petroleum Products & Industrial Gases, and Generation of Electricity.
• Services Sector: Transmission & Distribution of Electricity and Telecommunication services.
• Click here for: Annexure-1

Audit and other Work

• Statutory Auditors under Value Added Tax Act of States: Many States have authorised Cost Accountants for auditing, certification of returns and to appear as authorised representative on behalf of their clients under the Acts. The list of States where Cost Accountants are authorised to conduct VAT Audit is given at Annexure-2.
• Central Board of Excise and Customs (CBEC) authorizes Cost Accountants in practice for the following work:
  1. Special Audit under Section 14A & 14AA of the Central Excise Act 1944;
  2. Certification of refund of additional duty of Customs on the goods imported for subsequent sale under Indian Customs Act;
  3. Special Audit in certain cases under Section 11 of Customs Act, 1962, The Chief Commissioner of Customs may, for reasons to be recorded in writing, direct a manufacturer to get the accounts of his warehouse, office, stores, godowns, factory, depot, or other establishment audited by a Cost Accountant, nominated by him in this behalf.
  4. Under Rule 5 of Customs valuation (Determination of Value of Export Goods) Rules, 2007, the proper officer shall give due consideration to the cost-certificate issued by a Cost Accountant;
  5. Under the Fixation of brand rate of Drawback without pre-verification - Simplified procedure Scheme, unless there are any special reasons, drawback rates are to be fixed without pre-verification of the date filed, (which should be duly verified by the applicant and Chartered Accountant/ Chartered Engineers / Cost Accountant) and the exporter would be authorised by provisional brand rate letters issued by the Ministry to claim the drawback rate considered admissible from the concerned Customs House (s);
  6. Under Rules 6 and 7 of the Customs and Central Excise Duties Drawback Rules, 1995, the exporters may be asked to furnish the purchase invoice as to the procurement of the raw hides/wet blue leather. They should also furnish a certificate from the Chartered Accountant/Cost Accountant as to the consumption and cost of processing chemicals used for its processing and other incidental overhead charges incurred;
  7. The Commissioner of Customs/Central Excise may direct the concerned developer to get his accounts audited by a Cost Accountant nominated by him in this behalf. The expenses of and incidental to such audit shall be borne by the concerned developer, vide Circular No. 52/2002-Customs dated 14th August, 2002;
  8. Accepting services of the Cost Accountant’s may also be considered by the respective Commissionrates depending upon the extent of complexity of the cases as provided under Circular No.04/2006 dated 12th January, 2006 in respect Computation of freight of time chartered/daughter vessel and its inclusion in the assessed value as extended cost of transportation;
  9. Certified Facilitation Centres (CFCs)- under ACES-CBEC Scheme: As per MOU with Central Board of Excise and Customs (CBEC), Ministry of Finance, Government of India, Cost Accountants are authorised to act as facilitators under Certified Facilitation Centre Scheme in filing various Excise and Service Tax Returns under the provisions of Central Excise Act and Service Tax Act.
• Compliance Audit of Reserve Bank of India (India's Central Bank) for the purpose Lending under Consortium Arrangement / Multiple Banking Arrangements, the banks are required to obtain regular certification from professional like Cost Accountants regarding compliance of various statutory prescripttions that are in vogue.
• Half-yearly Internal Audit of Stock Brokers and Credit Rating Agencies as prescribed by Securities Exchange Board of India (SEBI);
• Internal and Concurrent Audit for depository operations under National Securities Depository Ltd (NSDL);
• Stock Audit and Concurrent Audit of many Public Sector and Private Sector Banks in India;
• Empanelled by many State Public Center Enterprises (SPSEs) as Internal Auditor for auditing financial books of account;
• Empanelled by many Public Sector Enterprises (PSEs), Public and Private limited companies as Internal Auditor for auditing financial books of accounts;
• Empanelled by many Cooperative Societies in States as Internal Auditor for auditing financial books of accounts;
• Various Ministries of Government of India have authorised the Cost Accountants in practice for certifying various returns and to issue compliance certificate as per their formats. Such ministries are Ministry of Finance, Ministry of Commerce, Ministry of Corporate Affairs, Ministry of Chemicals and Fertilizers, Ministry of Textile, Ministry of Consumer Affairs, Food and Public Distribution and gist of the work under them are as follows:
  1. Issuance of various certificates under Indian Foreign Trade Policy 2009-14 and Aayat Niryat (Import and Export) Forms (ANF).
  2. Certificate of Cost of production of captively consumed goods as per Rule 8 of Central Excise Act, 1944 in accordance with Cost Accounting Standard CAS-4 issued by our Institute.
  3. Certificate for Average Cost of transportation as per Rule 5 of the Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000.
  4. Certificate towards the amount of duty paid on the materials used for the manufacture of exported goods as indicated in Forms DBK-I,II, IIA,III, IIIA under Customs Act, 1962
  5. Issuance of Various Certificates as prescribed by Fertilizer Industry Coordination Committee (FICC) in respect of certifying Cost Data for Subsidy Scheme, Transportation Claims, Escalation Claims and Equalize Freight Claims.
  6. Certificate of product wise position of production dispatches stock etc. for the year (Annexure III-A) under FICC.
  7. Issuance of Certificates in Form-I to VI as prescribed by National Pharmaceutical Pricing Authority (NPPA), is an organization established by the Government of India to fix/ revise the prices of controlled bulk drugs and formulations.
  8. Certificate of fulfillment of Hank Yarn obligation for Textile Industry and Textile Committee Cess- Monthly Return in Form-A.
  9. Certifying half yearly return in Form ‘N’ for Quantity of Rubber purchased & consumed by manufacturers under rule 33 (f) of the Rubber Rules, 1955;
  10. Certifying Performa CI & C2 under Anti Dumping as prescribed by Ministry of Commerce;
  11. Certifying Statement of cost of production for Anti-dumping petition to Government of India;
  12. Certification of Application for License and renewal thereof to act as Surveyor and Loss Assessor under Insurance Regulatory and Development Authority (IRDA)
  13. Certification of various forms prescribed under the Central Electricity Regulatory Commission (CERC);
• Cost Accountants are eligible under various Acts and Regulatory Authorities to appear before the various Authorities including Appellate Tribunals etc.
  In the following cases, there is special work, which are being done by Cost Accountants:
• Telecom Regulatory Authority of India (TRAI)
  1. Right to Legal Representation before Appellate Tribunal as per Section 17 of TRAI Act,1997
  2. Reporting and Audit for System on Accounting Separation- Certification Work
  3. Audit for Metering and Billing Accuracy- authorised to conduct audit
• Certified Filing Centers (CFCs) under MCA-21 Scheme: Ministry of Corporate Affairs, Government of India have authorised Cost Accountants in practice to act as Certifying Filing Centres on their behalf for the purpose of certification of various type of e-forms and their filing with Registrar of Companies periodically as per the provisions of Indian Companies Act, 1956 and Limited Liability Partnership (LLP) Firms;
• Apart from other services many companies in Central & State Governments and their various Departments, Public, Private, Public Sector Banks have empanelled cost accountants for variety of work viz. Cost Management, Techno-economic Study, Systems, Computerization, ERP, Insurance companies and other Financial Institutions, Financial Management, Project Consultancy, Materials Management, Management Accountancy, Tax Planning, Diagnostic Accounting & Revival of Sick Units, Merchant Banking, Investment Counseling & Portfolio Management, Internal Management and Operational Audits, Organization Structure Review, Training and Executive Selection, Incentive Plans, Productivity, Conservation of Energy and Energy Audit and Environmental Audit etc.

Cost Accountants in Employment: 
There has been increasing awareness amongst the business entrepreneurs of the most vital contribution made by cost and management accountancy services in the business houses to the attainment of business objectives. This has accentuated the demand for cost and management accounting services in all the sectors of economy. Many members of the Institute are holding top management positions, viz., Managing Director, Finance Director, Financial Controller, Chief Accountant, Cost Controller, Marketing Manager, Chief Internal Auditor, CEO, CFO. Those managing their own business have found in themselves a Manager and an Accountant to control and flourish their business. No wonder a Cost Accountant can attain the highest ladder of professional career. 

Cost Accountants in Government Department: 
Realising the importance of the profession of the Cost and Management Accountancy in the economic development of the nation, the Central Government has constituted an all-India cadre known as Indian Cost Accounts Service (ICAS) at par with other Class-I services such as IAS, IFS etc. to advise the government in cost pricing and in framing the appropriate fiscal and tax policies. 

Cost Accountants in Education:
University Grants Commission (UGC) has notified “UGC Regulations on Minimum Qualifications for Appointment of Teachers and Other Academic Staff in Universities and Colleges and Measures for the Maintenance of Standards in Higher Education, 2010 vide its Circular No. F.3-1/2009 dated 30th June 2010.

The Regulations prescribe the minimum qualification for appointment of teaching faculty in universities and colleges in the area of Management/ Business Administration. The qualifications specified for appointment of Assistant Professor, Associate Professor and Professor in the above area and Principal/Director/Head of the Institution include First Class Graduate and professionally qualified Cost and Works Accountant among other qualifications and subject to other requirements including qualifying NET/SLET/SET as the minimum eligibility condition for recruitment and appointment of Assistant Professors.

1. A member of ICWAI can get enrolled as a member of IMA USA.
2. Recognised by the Academic Councils of many Universities in India for the purpose of admission of the Ph.D. courses in Commerce. Various Universities have recognized ICWA qualification for registration as M.Phil. and Ph.D. candidates in commerce and allied disciplines. The List of Universities who have recognized ICWA qualification to pursue M. Phil and Ph. D is given at Annexure-3.
3. The MoU between CIMA (The Chartered Institute of Management Accountants), UK and ICWAI introduces a new CIMA Professional Gateway examination (available from May 2009) for ICWAI students who have successfully completed the whole of the ICWAI professional examination, enabling a ‘fast track’ route into CIMA’s Strategic level examinations, final tests of professional competence and ultimately CIMA Membership.
4. 4. MOU between Indira Gandhi National Open University (IGNOU): ICWAI and IGNOU have entered into an MOU on 11th July, 2008 to offer specialized B.Com and M.Com Programs for ICWAI students. The Students can simultaneously study the specialized B.Com (Financial & Cost Accounting) programme with ICWAI Foundation/Intermediate Course and specialized M.Com (Management Accounting &Financial Strategies) with ICWAI Final Course. The details may be seen at Annexure-4

Certificate in Accounting Technicians (CAT) Qualification

In view of heavy demand of Accountants at Junior level in India and also with the approval of Administrative Ministry, the Institute of Cost and Works Accountants of India (ICWAI) has introduced a Certificate in Accounting Technicians (CAT) Course of one year duration for 12th (10+2) passed students. It comprises of two parts- Foundation Course (Entry Level) and Competency Level. Also this course comprise of Examinations, Computer Training (60 Hours), Practical Training (6 Months) and Orientation Training Programme (15 Days). It will be in English and Hindi language. Study materials will also be available in English & Hindi as per choice of students. The papers covered under CAT Course are:-

A) Foundation Course (Entry Level) – Part-I
Paper 1: Organization and Management Fundamentals.
Paper 2: Accounting
Paper 3: Economics and Business Fundamentals
Paper 4: Business Mathematics and Statistics Fundamentals

B) Competency Level – Part-II
Paper 5: Financial Accounting
Paper 6: Applied Statutory Compliance

The Student who have passed/appearing 12th Class (10+2) examination are eligible to take admission in Foundation (Entry Level) Part-I of CAT Course. Graduates and Foundation Passed students of ICWAI & CAT are eligible to take direct admission in Competency Level (Part-II). It may please be noted that simultaneous appearing in Entry Level and Competency Level is not allowed for a CAT Course. 

Course Fee
Fee for the complete Course is Rs. 8,600/-. Fee for ICWAI Foundation passed students and Graduates is Rs. 6,500/-. However, these students are required to pay exemption fee of Rs. 2000/- (Rs. 500 per paper). Course Fee includes Registration Fee, Tuition Fee, Computer Training Fee, Training Registration Fee and Study Material Cost.

It has been decided that there will be no postal coaching for CAT student. Only Oral Coaching mode will be followed, students eligibility for examination will be based on attendance (more than 70% of Classes attended).
Further, there will be no coaching completion Certificate for CAT Course.

Examination : Examination for CAT Course will be similar to ICWAI main Course with respect to date of Registration, validity of Registration, date of submission of Examination form, Examination date, Examination centres and passing marks etc.

Computer Training:- The Computer Training will be for sixty hours. The training will be in Accounting software, windows etc.

Practical Training:- The Practical Training will be for six months. The training can be taken from organizations prescribed under training scheme of CAT Course. 

Orientation Training:- The Orientation Training will be for 15 days. After completion of Accounting Technicians course of both Part-I and Part-II and requisite practical Training of 6 months and Computer Training, a student needs to undergo Orientation Training Programme for 15 days at a Regional Council/ Chapter/ Oral Coaching Centre.

Last Date for Admission

The detailed information about CAT Course is available in prospectus (Download Prospectus). The prospectus will be open for sale to students by all the Regional Councils/Chapters. The registration form  can be downloaded from our website (Download Registration Form) and can be submitted after enclosing additional fee of Rs. 50/ to Regional Council/ Chapter/ Oral Coaching Centre. 
 

Click to view the Recognised Oral Coaching Center (ROCC) for CAT Course.

For any further queries related to CAT course, please mail to catdelhi @ icwai.org. 

1. For Foundation Course (Level 1)

   • Organisation and Management Foundamentals
   • Economics and Business Fundamentals
   • Business Mathematics and Statistics Fundamentals
   • Accounting
   
   

2. For Competency Level (Level II)

   • Financial Accounting
   • Applied Statutory Compliance

1. For Foundation Course (Level 1)

   • Organisation and Management Foundamentals
   • Economics and Business Fundamentals
   • Business Mathematics and Statistics Fundamentals
   • Accounting
   
   

2. For Competency Level (Level II)

   • Financial Accounting
   • Applied Statutory Compliance

1. Download Sample Papers For Foundation Course (Level 1)

   • Organisation and Management Foundamentals
   • Economics and Business Fundamentals
   • Business Mathematics and Statistics Fundamentals
   • Accounting
   
   

2. Download Sample Papers for Competency Level (Level II)

   • Financial Accounting
   • Applied Statutory Compliance
   •