Cost and Work Accountants/CWA

Cost Accountant focuses on cost effective measures so that the costs of a firm come down and its profits are improved. The cost accountant prepares a budgetary planning for the year and co-ordinates with other planning and management departments. The role of a Cost Accountant is to punctually ingress the costs that are correlated with manufacturing the product(s) or distributing the service(s) of the recruiting company. The data captured by the Cost Accountant is then calculated commonly by a team of decision-making managers who will create more effectual and productive programs for their organization.

Key to Success

To be successful in Cost and Work Accountant you should have/ develop:

Interest in and aptitude for Mathematics, statistics
Practical
Business sense
Ability to take quick decision
Sound understanding of accountancy

Scope and Opportunities

Importance of having cost and management accountancy services in the business has accentuated the demand for cost and management accounting services in all the sectors of economy. Various positions are open for Cost Accountant like -

Financial Controller
Cost Controller
Marketing Manager
Chief Internal Auditor
CEO and CFO

Those managing their own businesses have found in themselves a Manager and an Accountant to control and flourish their business.

Government of India after realizing the value of the profession of the Cost and Management Accountancy in the financial development of the country, has aggregated an all-India cadre known as Indian Cost Accounts Service (ICOAS) at par with other Class-I services such as IAS, IFS etc. to suggest the government in cost pricing and in assembling the applicable financial matters and tax policies.

Lifestyle & Social Status

It’s an indoor job
This career is a professional career
Cost Accountant careers are known for high intellect people.

Job Profile

Cost Accountant’s work involves:

Recording and analyzing costs and make suggestions for reduction in production and distribution.
Put in thought on the research of different product related issues in order to check what are the changes to be made
Conducting concrete summaries or cycle counts in departments, starting from raw material completion to office supplies.

Skill Sets

Strong analytical skill
Sound knowledge of business environment, economics, finance and accounts
Communication skills – both oral and written
Solid mathematical skills
Critical Thinking
Complex Problem Solving
Highly-developed skills in margin analysis and project costing

Work Value

Responsibility
Autonomy
Achievement
Teamwork
Results oriented

Current Job Scenario

Cost Accountants are in demand in private enterprises, government sector, banking & finance sector, developmental agencies, & research sector.

The Cost Accountants profession is perfect for any personnel who enjoy challenges and problems solving. Those who develop a track-record of success will have many opportunities for development and improvement.

Top Recruiters

A.F. Ferguson & Co
Deloitte Haskins & Sells,
S.B. Billimoria & Co
BSR & Co
PriceWaterhouse & Co
All Bulk manufacturing industries

Course Synopsis

Course Options	Foundation examination	Intermediate course	Final Course
Academic Eligibility	passing 10+2 examination + 17 years of age	Graduates in any discipline	Intermediate course pass
Fees	Rs. 10,000	Rs. 25000	Rs. 25000
Overall expenditure in Metro and Tier-1	Rs. 2 Lakhs to Rs. 2.5 Lakhs	Rs. 2 Lakhs to Rs. 2.5 Lakhs	Rs. 2 Lakhs to Rs. 2.5 Lakhs
Overall expenditure in Tier-2	Rs. 1.75lakhs – Rs. 2 Lakhs	Rs. 1.75lakhs – Rs. 2 Lakhs	Rs. 1.75lakhs – Rs. 2 Lakhs
Duration	Exams are held two times in a year	Minimum 18 months	Minimum 18 months
Mode	Distance as well as Regular Coaching	Distance as well as Regular Coaching	Distance as well as Regular Coaching
Approved	Statutory body under Act of Parliament	Statutory body under Act of Parliament	Statutory body under Act of Parliament
Affiliation	Institute of Cost Accountants of India	Institute of Cost Accountants of India	Institute of Cost Accountants of India