Cost & Works Accountant Career in India

These days, everything is about economies and streamlining processes. Increasing competitive pressure has led to many organisations and enterprises to interweave cost and management accountancy into their own management systems. And so CWA (Cost and Works Accountancy) was born in the last century.

A CA’s role in management has become important enough to sink or save the company; it’s all about skill. The cost and works accountant collects, assimilates, collates and analyses financial information from every angle and then interprets those numbers for the management. The CWA is now an essential part of any corporate strategy – whether he or she is an employee or a consultant on retainer.

The Institute of Cost and Works Accountants of India (ICWAI) aims to meet the demand for these highly skilled professionals through its premier training programs in any arena, whether in India or abroad, where they are known as Management Accountants. And managers they are, because they play a key pivotal role in consultations, audits and strategy formation.

ICWA Course

The main thing to know about CWA is that students will be taught in three stages (Foundation, Intermediate and Final) and will have to sit for an exam for each.


Once someone has perused the list of positions usually open to a cost accountant, it becomes hard to ignore the glaring prestige of this job, not to mention the massive earning potential. The list below is only a superficial representation of your possible jobs down this path in public, private and even government organisations:

  • Chairman,
  • Managing Director,
  • Finance Director,
  • Chief Executive,
  • General Manager,
  • Finance Manager,
  • Cost Accounting Service in Central Govt. named as Indian Cost Accounts Service, which is at par with the Class I Services of the Government of India.
  • Independent Practice

Their practice would usually cover the following:

  • In mandatory Cost Audit under Section 233 (B) of the Companies Act, 1956.
  • Certification under Export & Import Policy.
  • Excise Audit under Section 14A of the Central Excise Act and Special Audit of Certification Of manufacturing account as per Customs Act.
  • Consultancy Assignments.

Academic Opportunities

If you’ve passed the final examination AND if you possess a Bachelor’s degree, you may register with universities for Ph.D. courses in commerce and associated fields. This initiative was started by the Association of Indian Universities {AIU} in 1991, and has since been adopted by 35 Indian universities. Even the AICTE has agreed that Fellows will be treated at par with Ph.D. holders when it comes to appointing them to teaching posts in professional and management institutes. These posts include:

  • Professor,
  • Associate Professor,
  • Reader,
  • Asst. Professor
  • Lecturer.

Institutes/Universities that recognise CWA qualification for Ph.D. pursuit

  • Sardar Patel University, P.B. No. 10, VallabhVidyanagar -388 120
  • Guru Nanak Dev University, Amritsar.
  • South Gujarat University, University Campus Udhana – Magdalla Road ,Surat -395 007
  • Moharshi Dayanand University, Rohtak
  • University of Poona, Ganeshkhind, Pune -411 007
  • Punjab University, Chandigarh -160014
  • Nagpur University, Nagpur
  • Meerut University, Meerut
  • Mangalore University, Office of the Mangalore University Light House Hill ,Mangalore -575 003
  • University of Kerala, Trivandrum
  • University of Mysore, Viswavidyanilaya Karya Soudha Crawford Hall, Mysore -5
  • Cochin University of Science &Technology, Cochin
  • Shivaji University, Vindyanagar, Kolhapur -416 004
  • University of Bombay, Mumbai – 400
  • Sri Venkateswara University, Tirupati Andhra Pradesh
  • Varanasi University, Uttar Pradesh
  • Karnataka University , Karnataka
  • Osmania University, Hyderabad -500007
  • Madras University, Chennai
  • Punjabi University, Patiala
  • North Maharashtra University, Jalgaon
  • Yashwantrao Chavan Maharashtra Open University, Nasik Maharashtra
  • AlagappaUniversity , Karaikudi
  • Bangalore University, University City Campus, Bangalore -560 001
  • Tezpur University, Tezpur
  • Guru Ghasidas University Bilaspur, Madhya Pradesh
  • VikramUniversity, Ujjain
  • Manipur University, Canchipur, Imphal -795 003
  • Pondicherry University, Pondicherry
  • Vidyasagar University, Midnapore
  • Madurai KamarajUniversity, Madurai
  • North Gujarat University, Rajmahel Road P.B. No. 21
  • Sambalpur University, Jyoti Vihar Burla, Sambalpur -768 019
  • The University of Kashmir, Srinagar
  • GauhatiUniversity , Guwahati -781 014