The ICWA Learning Path: All You Need to Know
The difference between Chartered Accountants (CAs) and Cost and Work Accountants (CWAs) is really subtle: while the former have an in-depth understanding of accounting, auditing and taxation, the latter have replete knowledge about cost and financial management.
Should I pursue CA or ICWA?
From the viewpoint of an individual’s career, he/she is free to pursue either of these highly prestigious courses and in the future, reap the benefits of having become a CA or CWA. CAs learn cost and management accounting as well, but CWAs ‘specialize’ in the same area. And, if you are keen on finding a job in a manufacturing or a production environment, then ICWA will be a more pertinent certification to pursue. The Learning Path for an Aspiring Cost Accountant The path to becoming a CWA is similar to CA, in that it too involves three levels of learning: foundation, intermediate and final. Further similarities between CA and CWA, as certifications, are the pre-requisites that an aspirant will have to fulfill in order to pursue each of the CWA certifications and the length of each certification. In order to pursue the foundation level of CWA, candidates have only a minimum requirement to fulfill: that they should have completed high (10th) or higher secondary school (12th) to be eligible. The length of CWA foundation course is seven months—a period exclusive of the months during which the exams are held—and the CWA exams are held in June and December every year. The intermediate level in the CWA learning path is a little more extensive. Not only is the length of intermediate CWA certification a lot longer (18 months) than its predecessor (seven months), but CWA aspirants have to fulfill a major pre-requisite as well. To pursue the second level of CWA, aspirants must at least have completed graduation. Following the completion of CWA intermediate certification, aspirants will become eligible for the final level of CWA’s learning path. The length of CWA final level is also 18 months and upon successful completion, successful candidates must undergo three years of practical experience before they can become full-fledged Cost Accountants, who are known as Management Consultants in foreign countries. Quintessentially, a CWA aspirant might well take a little more than three years to attain what is a prestigious and often a watershed qualification.
ICWA Coaching in Chennai
The above list of ICWA coaching centers in Chennai provide arguably the best platform for the CWA aspirants to succeed and realize their maximum potential. The training is comprehensive, with mock tests and well-planned training classes providing substantial practice for gaining proficiency and ultimately, going on to ace the exams conducted by the Institute of Cost Accountants of India (ICAI). All the very best