COST AND WORK ACCOUNTANCY

INTRODUCTION :
In the face of increasing competition and other economic pressures, the task of management has undergone radical change. Cost and Management Accountancy has been intimately interwoven into the fabric of management itself. It assists in stabilising budgets and standards, evaluating operating efficiency and effectiveness of production and service management, formulating the profit planning program, guiding the management decisions, identifying accountability for cost and profit variances, etc.
THE JOB :
Cost and Management Accountant advises on product pricing, production planning and inventory control, profitability, product wise return on capital employed, economic feasibility studies, investment proposals, and highlights the ultimate effect of changes in production and sales volume, and other cognate factors of manufacturing, marketing and finances over the cost, profit and return on fixed and net current assets employed in the business.
Cost of production must be kept within the budgeted limits through efficient and economic production if desired profit targets are to be achieved. Cost and Management Accountant realises that cost of products, process and service units including budgets, standards and other management reports are valuable. The cost and management accountant helps to diagnose the areas of uneconomic activities through cost and management information system. The services of the Cost and management Accountants are therefore, essential to the sound and profitable operations of all types of business enterprises.
E N T R Y :
Preliminary Examination : These are held in June/December every year.
Eligibility : 16 years and 10 +2.
Subjects :
a) English comprehension and communication.
b) Elements of Mathematics.
c) General Knowledge.
DIRECT REGISTRATION :
Eligibility :
a) Minimum 18 years of age on the date of application.
b) Graduation with 50% .
c) Post Graduate/Engineering Graduate.
It is obligatory on the part of the registered students of the Institute to undergo and complete satisfactorily a course of tuition either postal or oral before they are permitted to appear at the intermediate or final examination of the Institute.
In addition to the compulsory theoretical education by the Board of Studies, students have option to attend oral classes.
ADDRESS FOR REFERENCE :
Headquarters :
The Institute of Cost and Works Accountants of India,
12, Sudder Street, Calcutta-700016.
ADDRESS OF BHUBANESWAR CHAPTER :
The Institute of Cost and Works Accountants of India,
333, Acharya Vihar, Bhubaneswar-751013,
Phone No: 541258/540891.