College Category

About College

The Institute of Cost Accountants of India is recognized as a premier source for financial leadership training and resources worldwide. It aims to foster the ethical management of global enterprises through the strategic integration of accounting, management, and strategy, thus delivering value to stakeholders within a socio-economic framework.

Foundation Course Eligibility:

  • Completion of Class 10 or its equivalent from an accredited board or institution.
  • Successful completion of the Senior Secondary School Examination under the 10+2 scheme or an equivalent examination as recognized by the Central Government.
  • Achievement in the National Diploma in Commerce Examination conducted by the All India Council for Technical Education or a similar qualification from any State Board of Technical Education, or the Diploma in Rural Service by the National Council of Higher Education.
  • Exemptions are granted to those who have cleared the Foundation examination by the Institute of Company Secretaries of India or the Intermediate Examination by the Institute of Chartered Accountants of India, negating the need for the Foundation Course.
  • Direct admission to the Intermediate Course exempts the candidate from the Foundation Course. Provisional admission is available, with a 36-month period to achieve regular status.

Intermediate Course Eligibility:

  • Completion of the Senior Secondary School Examination / Higher Secondary Examination (10+2) and the Foundation Course, or success in the Foundation (Entry Level) Part I Examination of the Certificate in Accounting Technicians (CAT) Course by the Institute, or holding a degree from a recognized University (excluding Fine Arts), or for those pursuing or having completed an Engineering degree.
  • A list for direct admission eligibility is provided separately.
  • Provisional registration is offered to those awaiting degree examination results, with 18 months to convert to regular status.

Admission Details and Fees:

For the Foundation Course:

  • Eligibility includes passing Class 10 or equivalent, the Senior Secondary Examination under the 10+2 scheme, or holding a National Diploma in Commerce or a Diploma in Rural Service.
  • Provisional admission is possible for those awaiting results.
  • The prospectus cost is Rs. 250. Online registration details are available on the Institute's website.
  • Required documents include an attested copy of the matriculation certificate, 10+2 certificate or marks statement, and three passport-size photographs.

For the Intermediate Course:

  • Eligibility criteria include passing the 10+2 examination and Foundation Course, graduation in any discipline other than Fine Arts, passing the Foundation of ICSI/Intermediate of ICAI, along with other qualifications listed in the prospectus.
  • Provisional admission is available for those awaiting results.
  • The prospectus cost is Rs. 250, with online registration details provided.
  • Required documents include attested copies of the matriculation certificate, 10+2 certificate or marks statement, degree certificate, and three passport-size photographs.

Application Timelines:

  • Foundation Course applications are accepted year-round. For the June Term Examination, apply by January 31; for the December Term Examination, by July 31.
  • Intermediate Course registration is also open throughout the year, with the same application deadlines for the respective examinations.
 
 
 
 
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Syllabus

2016 Syllabus Overview

Paper 1: Basics of Economics and Management (BEM) This paper divides equally between the introductory concepts of Economics and the foundational principles of Management, each constituting 50% of the syllabus.

Evaluation Method: Students will be assessed through a written examination focusing on both subjects.

Goals: The objective is to impart foundational knowledge in Economics and introduce the concept of management at both macro and micro levels.

Learning Targets: Students will:

  • Grasp fundamental economic concepts at both macro and micro scales.
  • Understand the foundational principles of management.

Skill Level Requirement: This requires knowledge and understanding skills.

Economics Basics 50%

  1. Introduction to Economics (20%)

    • Economic Fundamentals
    • Concepts of Utility, Wealth, Production
    • Demand and Supply Theories
    • Market Equilibrium
    • Production Theory
    • Production Costs
  2. Market Structures (20%)

    • Market Types and Pricing Strategies
  3. Finance and Banking (10%)

    • Money: Concepts and Functions
    • Banking: Fundamentals and Operations
    • Central and Commercial Banking
    • Credit Control

Management Fundamentals 50%

  1. Management Processes (50%)
    • Overview of Management Activities
    • Power, Authority, and Responsibility
    • Leadership and Motivation Theories
    • Decision-making Processes

Paper 2: Basics of Accounting (BOA) This paper focuses on Financial Accounting (80%) and introduces Cost Accounting (20%).

Evaluation Method: An examination will assess comprehension of accounting principles and practices.

Goals: To ensure a thorough understanding of financial statements, accounting principles, and their application in various situations, along with an introduction to cost and management accounting for decision-making.

Learning Targets: Students will:

  • Learn and explain accounting's conceptual framework.
  • Prepare financial accounts under different scenarios.
  • Understand basic cost and management accounting concepts.

Skill Level Requirement: Knowledge and comprehension skills are needed.

Financial Accounting Basics 80%

  1. Accounting Principles and Transactions (35%)

    • Fundamental Accounting Principles
    • Capital and Revenue Transactions
    • Accounting System Basics
    • Depreciation Methods
    • Error Correction
    • Accounting Entries
  2. Special Transactions (20%)

    • Bills of Exchange
    • Consignment and Joint Ventures
  3. Final Accounts Preparation (25%)

    • For Profit and Non-Profit Organizations
    • Accounting for Debts and Discounts
    • Trading, Profit & Loss, and Balance Sheet

Cost Accounting Basics 20%

  1. Introduction to Cost Accounting (20%)
    • Significance and Relationship with Financial Accounting
    • Cost Classification
    • Cost Sheet Format

Paper 3: Fundamentals of Laws and Ethics (FLE) This paper is split between Commercial Laws (70%) and Ethics (30%).

Evaluation Method: A written exam will test knowledge of laws and ethical standards.

Goals: To build a foundation in law and ethics, focusing on regulatory compliance and professional ethical standards.

Learning Targets: Students will:

  • Acquire essential legal concepts knowledge.
  • Understand the basics of ethics, compliance, and requirements.

Skill Level Requirement: Knowledge and understanding skills are necessary.

Commercial Laws Basics 70%

  1. Indian Contract Act, 1872 (40%)

    • Contract Fundamentals
    • Contract Performance and Termination
    • Breach of Contract
  2. Sale of Goods Act, 1930 (20%)

    • Ownership and Warranties
    • Sale Contract Performance
    • Vendor Rights
  3. Negotiable Instruments Act, 1881 (10%)

    • Instrument Characteristics
    • Definitions and Differences
    • Cheque Crossing

Ethics Fundamentals 30%

  1. Business Ethics (30%)
    • Ethics Overview
    • Public Life Principles
    • Law and Ethics Relationship
    • Business Ethics Importance

Paper 4: Basics of Business Mathematics and Statistics (BBMS) This paper covers Business Mathematics (40%) and Business Statistics (60%).

Evaluation Method: An exam will test mathematical and statistical applications in business.

Goals: To understand and apply fundamental mathematical and statistical concepts for business analysis and decision-making.

Learning Targets: Students will:

  • Master basic math and statistical concepts.
  • Apply quantitative tools effectively.
  • Utilize statistical tools for analysis and forecasting.

Skill Level Requirement: Requires knowledge and comprehension.

Business Mathematics Basics 40%

  1. Arithmetic and Algebra (40%)
    • Ratios, Interest, Sequences
    • Basic Algebraic Concepts

Business Statistics Basics 60%

  1. Data Representation (10%)

    • Diagrams and Distributions
  2. Central Tendency and Variability (30%)

    • Mean, Median, Mode
    • Dispersion Measures
  3. Correlation and Regression (10%)

    • Analysis Techniques
  4. Probability (10%)

    • Event Analysis
    • Probability Theorems
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Dates

Foundation Course Examination Schedule (Offline OMR-based MCQ format at designated centers)

Date: Sunday, 16th June 2024

Morning Session (10:00 AM to 12:00 PM IST)

  • Paper 1: Business Law Fundamentals and Business Communication (100 Marks, 50 MCQs)
  • Paper 2: Basics of Financial and Managerial Accounting (100 Marks, 50 MCQs)

Afternoon Session (2:00 PM to 4:00 PM IST)

  • Paper 3: Introduction to Business Mathematics and Statistics (100 Marks, 50 MCQs)
  • Paper 4: Principles of Business Economics and Management (100 Marks, 50 MCQs)

Intermediate and Final Examination Schedule – June 2024 (Exams for each group will occur on alternate dates)

Date: Tuesday, 11th June 2024

  • Final (10:00 AM to 1:00 PM IST): Corporate and Economic Law (P-13)
  • Intermediate (2:00 PM to 5:00 PM IST): Business Laws and Ethics (P-05)

Date: Wednesday, 12th June 2024

  • Final: Cost and Management Audit (P-17)
  • Intermediate: Operations Management and Strategic Management (P-09)

Date: Thursday, 13th June 2024

  • Final: Strategic Financial Management (P-14)
  • Intermediate: Financial Accounting (P-06)

Date: Friday, 14th June 2024

  • Final: Corporate Financial Reporting (P-18)
  • Intermediate: Corporate Accounting and Auditing (P-10)

Date: Saturday, 15th June 2024

  • Final: Direct Tax Laws and International Taxation (P-15)
  • Intermediate: Direct and Indirect Taxation (P-07)

Date: Sunday, 16th June 2024

  • Final: Indirect Tax Laws and Practice (P-19)
  • Intermediate: Financial Management and Business Data Analytics (P-11)

Date: Monday, 17th June 2024

  • Final: Strategic Cost Management (P-16)
  • Intermediate: Cost Accounting (P-08)

Date: Tuesday, 18th June 2024

  • Final Electives (Choose one of the following three papers):
    • Strategic Performance Management and Business Valuation (P-20A)
    • Risk Management in Banking and Insurance (P-20B)
    • Entrepreneurship and Start-up (P-20C)
  • Intermediate: Management Accounting (P-12)
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Counselling

Regional Offices of The Institute of Cost Accountants of India and Their Jurisdictions

The Institute of Cost Accountants of India (ICMAI) operates through regional councils to effectively manage its activities across different parts of India. Each regional council is tasked with overseeing the institute's affairs within specific territories, including the facilitation of examinations, coaching, and support services for students and members. Below is an overview of the regional councils along with their contact details and the regions they serve:

Western India Regional Council

  • Location: "Rohit Chambers," 4th Floor, Janmabhoomi Marg, Fort, Mumbai - 400 001
  • Contact Info: Phone: 022-22872010/ 22841138/ 22043406/ 22043416, Fax: 91-022-22870763, Email: [email protected], Website: www.icwai-wirc.org
  • Regions Covered: Includes the states of Chhattisgarh, Gujarat, Madhya Pradesh, Maharashtra, Goa, and the Union Territories of Daman Diu, Dadra, and Nagar Haveli.

Southern India Regional Council

  • Location: 4, Montieth Lane, Egmore, Chennai - 600 008
  • Contact Info: Phone: 044-28554443/28554326/28528219, Fax: 91-044-28554651, Website: www.sircoficwai.com, Email: [email protected]
  • Regions Covered: Encompasses Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Pondicherry, and the Union Territory of Lakshadweep.

Eastern India Regional Council

  • Location: 84, Harish Mukherjee Road, Kolkata - 700 025
  • Contact Info: Phone: 033-24553418 /24555957, Fax: 91-033-24557920, Email: [email protected]
  • Regions Covered: Includes Assam, Arunachal Pradesh, Bihar, Jharkhand, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Tripura, West Bengal, Sikkim, the Union Territories of Andaman and Nicobar Islands, and international territories.

Northern India Regional Council

  • Location: 3, Institutional Area, Lodi Road, New Delhi - 110 003
  • Contact Info: Phone: 011-24626678 / 24615788, Fax: 24622156, Email: [email protected]
  • Regions Covered: Covers Delhi, Haryana, Himachal Pradesh, Jammu and Kashmir, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, and the Union Territory of Chandigarh.

It's noteworthy that candidates appearing for Intermediate and Final Examinations have the option to answer questions in Hindi. For those interested in oral coaching, reaching out to the respective regional council office or chapters is recommended for further assistance.

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