Cost Accountant is responsible for collecting, assimilating and analyzing the financial information of an organization. They prepare a report based on this information and provide it to the management of the organization. Management analyzes the profit and loss of the organization through this report. They are responsible for providing accurate financial status of the organization. Thus the cost accountants play a crucial role in the development of the organization.

Qualifying Exam

Those who want to become a cost accountant should complete Cost and Works Accountancy (CWA) course from Institute of Cost and Works Accountants of India (ICWA). This course will enable the candidates to work in various vital organizations which recruit only professionals. Candidates who want to work as cost accountant should also complete their graduation.

Who are eligible to apply?

Candidates who want to complete Cost and Works Accountancy course should qualify in the three stages of the course. First stage is called foundation course. Those who have passed plus two or its equivalent can apply for this course. Age limit specified to apply for this course is minimum seventeen years. Duration of this course is about eight months.

After completing this course one can apply for the second stage of the CWA course. The second stage of the CWA course is called intermediate course. Those who are applying for the intermediate course should have completed their graduation in 10+2+3 pattern from any recognized institution. Their age should not be less than eighteen years. Duration specified for the intermediate course is about ten months. Candidates who have passed all the eight papers in the intermediate course can apply for the final stage. Eighteen months duration is needed to complete the final stage. After qualifying the final examination one can become a certified cost accountant.

Key elements in the process

• Pass plus two or its equivalent
• Complete the foundation course of CWA successfully
• Complete graduation in 10+2+3 pattern from any recognized institution
• Complete intermediate course of CWA successfully
• Qualify the final exam of CWA
• Apply for the job

Skills required for a cost accountant

Cost accountants should have good negotiation skills to confirm a deal with the available budget. They should possess good computer skills for using different accounting softwares. Communication skill is the most important quality needed for a cost accountant. They should have the skill to make strategic decisions and independent judgements in crucial situations.