The complexities of the business are increasing and profit margin is becoming thinner in the open economy In this fact unfolding scenario, the role of management Accountant assumes considerable significance. The cost and works Accountant assigns value in terms of money to the products , services or works completed by the firm and analyses the profit potential of the various products of the company. Cost accounting is also useful in fixing the wages; incentives etc. in proportion to the company’s productivity

Eligibility: Those who are above 17 years of age and have passed or appeared for 110+2 or equivalent examination are eligible to enroll for the foundation course.
Admission: Foundation Examination are held twice in a year – in June and December. For the June term examination one should register with ICWAI before the December 17 of the previous year, and for the December term examination, before June 25
Inter mediate: After clearing the Foundation courses, a student registers for the intermediate course. The foundation course is waived in the case of gazetted officers, post-graduates qualified engineers holding a degree and graduates qualified engineers holding a degree and graduates from other stream with 50% marks. They are generally allowed to register with the institute fir the intermediate examination.A registered student has to pass the intermediate and final examinations of the institute within seven years from the date of registration, failing which the registration shall be cancelled
Final: No one shall be admitted to the final examination unless they have qualified the intermediate examination and got their registration numbers from the ICWAI. In the final examination stage  , Coaching completion Certificate (CCC) should be obtained. The students is required to submit dissertation under the guidance of a Person having FICWA or FCA or FCS, University professor or associate professor.

ICWAI course Pattern
Foundation Course:
Organization and Management Fundamentals, Financial Accounting Fundamentals,  Economic and Business Fundamentals, Business mathematics and statistics Fundamentals
Intermediate:
State I: Cost and management Accounting, Information System and Technology, Business Law and Communication Skills, Business Taxation
Stage II: Management Accounting Performance management, Advanced Financial Accounting, Auditing, Quantitative methods
Final:
Stage III: Operations and Project Management & Control, Advanced Financial Management and International Finance, Strategic management marketing, Strategic Tax management
Stage IV: Management Accounting-Decision Making, Management Accounting-Financial Strategy and Reporting
Cost  Audit and management audit, Valuations Management and Case study

Graduate/ Associate/Fellow Membership: Those who pass the final examination get the Graduate membership. Those who gain one year experience are eligible get Associate membership. An Associate Member can use the title AICWA after his name. An associate Member after three years relevant experience can apply to the Council for Fellowship. (FICWAI), Member, he can use the title FICWA after his name.