Education and Career Forum

What is the difficulty level of ICWA as compared to CA?

cA takes 5 yrs for completion n ICAI requires minimum period of 2 yrs..n cost and work accountants has a wider scope than CA as in punjab and nearby areas. the level of questions are extremely different as it has its own qualification and CA being very common these days.! going for ICAI is a good option and very good n progressive scope bt involves cost accounting more in it but u ll clarify..! all the best .!

I'm in 12th standard right now and i'm really confused about what i should do after 12th. I'm preferring bcom hons and currently confused between further study of ca or mba (finance). I would like to know the scope of both the courses plus i'm a little concerned with the difficulty level of the ca course. I'd like your help. Thanks :)

Chartered Accountancy

Chartered Accountancy (CA) is one of the most highly sought after courses in India. It is the most prestigious qualification in accounting and finance degree. Chartered Accountancy equips a student with thorough knowledge of auditing, taxation and accounting. It is important for students to register with the institute of Chartered Accountants of India to appear for the examination.

Levels of Chartered Accountancy:

Entry Level Test: Common Proficiency Test
First Stage of Theoretical Education: Professional Competence Course
Final Stage of Theoretical Education: Final Course

Eligibility: If you have passed 10+2 from any stream from a recognized school, you are eligible to apply for the Common Proficiency Test (CPT). If you have got registered for the Common Proficiency Test 60 days prior to the first day of the month in which CPT examination is to be held can appear in the examination i.e. on or before 1st April and 1st October for appearing in CPT examination to be held in June and December respectively. Common Proficiency Test examinations are held in June & December every year.

Duration: The course period is 1 year through correspondence where the topics include basic knowledge of Accounting, Economics, Mathematics, Statistics, and Mercantile Law.

For intermediate and (Professional Competence Course - PCC) one need to pass 10+2 and the Foundation Course. The course period is 18 months.

For the final stage, a student needs to pass the intermediate level and complete his graduation. For ICAI membership, a student needs a pass in the Final Course Examination along with requisite work experience which can be gained before, during or after the final course.

Scope and Career Prospect: Chartered accountants are involved in a variety of roles. They are either employed by a company or are practicing chartered accountants. They are involved in:

preparing financial statements and management reports
liaising with internal and external auditors
carrying out taxation and auditing work
advising on tax and efficient tax planning
preparing the annual reports

Quality chartered accountants are always in high demand. Demand for professionally qualified accounting personnel for advising on cost control and financial investments are always high. As a fresher, you will start your career as internal auditor or as a team member in the finance department of an organisation.

Cost Accountancy

With the globalization of the economy, the demand of quality cost and management professionals is on the upswing. Institute of Cost and Works Accountants of India (ICWAI) promotes, regulates, and develops the profession of Cost Accountancy in India. A Cost Accountant is expected to collect, assimilate, collate and analyze financial information from all areas of the organization. A cost accounting degree equips you with the knowledge on how to manage finance competently and ensure managerial decisions are well within the available resources.

Eligibility: A student from any stream after having passed the 10+2 examination is eligible to appear for the Foundation Course. There are two levels after the Foundation Course: the Intermediate and the Final Examination.

Career Prospects: Every organization needs a good cost accountant. You can also take up consultancy work with various firms. With experience and training, cost accountants can hold top management position like Financial Controller, Chief Accountant, Cost Controller, Marketing Manager and Chief Internal Auditor.

Options are also open to CWAs to directly register in M.Phil and Ph.D. courses in commerce as decided by the Association of Indian Universities. All India Council for Technical Education or AICTE decided that Fellow members of ICWAI will be treated at par with the persons holding Ph.D. degree for appointment in the posts of Professor and Lecturer in Professional and management Institutes.

Average salaries at junior level are Rs 10,000 to Rs 15,000 per month while a senior most CWA can expect to get Rs 30000 to Rs 35,000 per month in domestic markets.

Difference Between CA and ICWA

CA ICWA
Thorough knowledge of every aspect of accounting, auditing and taxation.
Knowledge of cost and financial management to ensure a fine balance between expenditures and available resources.

CAs are involved in core accounting work of an organization Cost accountants are involved in the costing part of financial transactions.
CAs analyse risk and design efficient financial system
Cost Accountants assess the feasibility of projects vis-à-vis available funds
Taxation and auditing are main duties of a chartered accountant Cost management and designing cost control methods are main duties of a cost accountant


Important skills required is that of patience and confidence to handle responsibility Good communication is a key skill in cost accountants

what is monthly salary after complete these icwa course

Is it easy to do icwa as compared to cs or ca...and after doing this vl get job immediately??

I am a 12th science student. I would like to know whether ICWA is better or
CA?And will the course be easier?