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Steps To Become a CMA

Career Chart for Cost Accountants


  1. Passed Class X-Eligible for Admission in Foundation course
  2. Passed Class XII Eligible to appear in exam
  3. Qualify Foundation Exam
  4. Register to Intermediate course (Oral/Postal)
  5. Complete Communication and Soft Skill (CSS) Training- 3 days
    Complete Computer Training-100 hrs.
  6. Eligible to appear in Intermediate Exam (Both Groups)
  7. Qualify Intermediate Exam.
  8. Enroll for Final Course (Oral/Postal)
  9. Complete Industry Oriented Training Programme (IOTP)- 7 Days
    Complete Practical Training-3 years (6 months mandatory)
  10. Eligible to appear in Final Exam (Both Groups)
  11. Qualify Final Exam
  12. Complete Practical Training- 3 years
  13. Apply and become member of the Institute

  1. Graduate in any discipline other than fine Arts
    Qualified CAT of CMA/ICSI Foundation/ ICAI Intermediate
  2. Continue from point 4 of “Through Foundation Course”.

Those who are known as “Cost Accountants” in India are called “Management Accountants” all over the World.

How are the ICWAI examinations held ?

The ICWAI examinations are held in three stages :

  • Foundation

A candidate may appear for the Foundation examination after passing the 10+2 examinations and completing coaching – either postal or oral. The students are tested in Management Fundamentals, Financial Accounting Fundamentals, Economics and Business Fundamentals and Business Mathematics and Statistics Fundamentals. The Foundation is waived in the case of officers, post graduates, qualified engineers holding a degree and graduates from other. They are generally allowed to register with the institute for the intermediate examination.

  • Intermediate

For the intermediate examination, there are eight papers – Cost and Management Accounting, Information Systems and Technology, Business Laws and Communication Skill, Business Taxation, Management Accounting-Performance Management, Advanced Financial Accounting, Auditing, Quantitative Methods.

With a view to bridge the gap between theoretical knowledge and practical orientation training, requirements for Intermediate ICWAI students have been presented as given below:-

-Two Group Discussions
-Two Business Communication Seminars
-Computers hands on 50 hours

  • Final

For the Final examination, there are eight papers – Operation and Project Management and Control, Advanced Financial Management and International Finance, Strategic Management and Marketing, Strategic Tax Management, Management Accounting-Decision Making, Management Accounting-Financial Strategy and Reporting, Cost Audit and Management Audit, Valuations Management and Case Study.

Practical orientation training requirements for Final ICWAI students are as given below:-

-Dissertation 5000 words.
-Computer Hands on 100 hours
-Modular training 15 days
-Audit / Industrial training 6 months

The institute has made it mandatory for registered candidates to undergo coaching either directly, or through correspondence and training, before appearing for the examinations.

All students shall submit their Postal Application form, duly filled in, together with relevant documents and remittances to theirrespective Regional Councils only. Regional Councils and area covered by the region are given below:


Address of Regional Councils of ICWAI Area Covered
Western India Regional Council
Chambers, 4th Floor
Janmabhoomi Marg Fort
Mumbai – 400 001
Ph : 022-22872010/ 22841138/ 22043406/ 22043416
Fax : 91- 022- 22870763
Email :[email protected] site : www.
The State of Chhattisgarh, Gujarat, Madhya Pardesh, Maharashtra, Goa and the Union Territories: Daman Diu., Dadra, and Nagar Heveli.
Southern India Regional Council
4, Montieth Lane Egmore,
Chennai – 600 008
Fax : 91- 044- 28554651
Email: [email protected]
The State of Andhra Pradesh Karnatka, Kerala, Pondicherry and the Union Terrritory: the Lakshadweep
Eastern India Regional Council
84, Harish Mukherjee Road,
Kolkatta – 700 025
Ph : 033 -24553418 /24555957
Fax : 91 033-2455-7920
Email :[email protected]
The States of Assam, Arunachal Pradesh, Bihar, Jharkhand, Manipur, Maghalaya, Mizoram, Nagaland, Orissa, Tripura, West Bengal, Sikkim, the Union Territories: The Andaman and Nicobar Islands and Foreign Countries
Northern India Regional Council The States of Delhi, Haryana,Himachal Pradesh,
3, Institutional Area,Lodi Road,
New Delhi- 110 003
Ph : 011 – 24626678 / 24615788
Fax : 24622156
Email :[email protected]
Jammu and Kashmir, Punjab,Rajastan, Uttar Pradesh, Uttraanchal and the Union Territory: Chandigarh.

Candidates of Foundation, Intermediate and Final Examinations are allowed to exercise option for answering questions in Hindi


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