|
Careers...
|
||||||||||||||||||||||
Cost and management accounting is primarily a product of the twentieth century. The success or failure of business decisions today depends on the quality of information made available to its management. Those qualified with an ICWAI training have several career options, as all business organizations require their services. A qualified CWA can work with a practising cost accountant, or be employed in a cost accountancy firm. There are also openings in financial institutions, government departments, banks- both public sector and private, insurance companies, international organizations, multinational companies, industry - both private and public sector, investment companies and so on. The option of teaching cost accountancy in universities / institutes is also always open to cost accountants. Those with experience can opt for private consultancy. Moreover, those who go in for an additional qualifications such as a Chartered Account (CA) or MBA will greatly increase career options and improve career prospects. A cost and works accountant (CWA) specializes in stabilizing budgets and standards, evaluating operational efficiency of an organization and the effectiveness of production and service management, formulating the profile planning programme, guiding managerial decisions, identifying accountability for cost and profit variance, and thus renders valuable assistance to the management. In other words, the cost accountant collects, collates, and interprets data relating to the organization's business activities and converts them into money terms to enable non-financial executives to arrive at the right decisions, or to select the right course of action at the right time. To
be qualified as a cost accountant, a candidate has to take the examinations conducted by
the Institute of Cost and Works Accountants of India (ICWAI). This is an examination
comprising of three stages : Eligibility: To sit for the preliminary examination, an individual should have passed the 10+2 exam. However, gazetted officers, postgraduates, engineering graduates and graduates with at least 50% marks are eligible for direct registration. It is obligatory for registered students of the ICWAI to undergo either postal or oral tuition before appearing for the intermediate and final stages of the exam. Tuition is conducted by the regional councils and certain other institutions recognized by the Directorate of Studies of the ICWAI. Duration: The exams can be taken at an interval of one year between two exams. An important aspect of the training is the three years practical experience students need to undergo before they can apply for associate-ship of the institute. This experience can be undertaken after the final exam or during the period of study and must cover different branches of costing or industrial accounting. A degree or diploma certificate is awarded to students at the end of the course. The ICWAI, with its headquarters in Calcutta, has its branches in New Delhi, Mumbai, and Chennai.
For all Financial Services : High intelligence ; ability to relate to people at all levels ; team spirit ; analytical bent of mind ; practicality ; self confidence ; flexibility ; a strong business sense ; numerical ability ; liking for concentrated desk work ; ability to cope with stress and handle heavy responsibility.
For Financial services professionals :
|
