ICWA Admit Card for December 2014 Term (Inter / Final Examination).

Generally the Institue of Cost Accountants of India releases admit cards of CMA Inter & admit cards of CMA Final just 15 -20 days before the exams. So students will have to download admit cards of CMA Inter and CMA Final from The Institute of Cost Accountants of India’s official website.

As per recently Issued Noification “physical admit cards are being sent by post, only to those who submitted physical examination forms (i.e. OMR). The practice of sending physical admit cards by post, to those who had submitted their exam forms online, is discontinued”. It means ICAI will not send any physical admit cards to students. Students have to download the Admit Card from the website.

To download CMA Inter admit cards for December 2014 and CMA Final admit cards for December 2014 Click Here

Click Here The Official Link For Download CMA Inter and Final Admit Cards December 2014

Admit Card Print For Intermediate & Final :

Current Registration Number :

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Cost accountants protest against new cost audit draft rules

Cost Accountants (Pune Chapter) on Friday protested outside the Pune Municipal Corporation (PMC) against the new cost audit draft rules published by the Ministry of Corporate affairs. The accountants have demanded an immediate withdrawal of the rules claiming it detrimental to their field.

The recently published draft Cost Records and Cost Audit Rules 2013 severely curtail the scope of the Cost Audit Mechanism—a system put in place in 1965 and expanded steadily with a view to curb profiteering and other malpractices in the corporate sector. The draft rule proposes to exempt much of the private sector from this mechanism, while the focus remains only on government funded companies.

The proposed dilution of Cost Audit Mechanism is regressive in nature and will adversely affect the cost consciousness and cost competitiveness of the Indian industry and will put consumers to a great disadvantage .

Madhuvanti Sathe, Chairman, Pune Chapter of Cost Accountants, said the draft rules if finalised may come into effect from April 1, 2014.

The ministry has sought reactions till December 14. Currently, of the around 15,000 companies, only 600 companies will require cost audit. Most of these would be public sector companies. This will not only affect cost accountants but will also make it difficult for the government to keep prices and inflation under check, added.

Currently, there are around 65,000 cost accountants, of which 25, 000 are in the western region with around 1,500 in Pune.(Indian Express)

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ICWA Admit Card for DECEMBER -2013 Term Examination.

Admit Card for DECEMBER -2013 Term Examination.

Click here to download : http://examicmai.org/wadmit/admit.htm

Instructions : Registration No ( 01121053900) 11 digit format.

Important Announcement :-

Admit Card and other details for Foundation December 2013 Examinations will be hosted on 1st week of December 2013. Probable dates of publication of Inter/Final & Foundation Result are 21st February 2014 & 15th January, 2014. 

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CS and CMA - HOW THEY DIFFER???? by CA Nitin Nanda

A company secretary executes her/his work with colleagues at all the levels. A CS is the one who fills the gap between the managers and the employees of the organization. Keeping the board of directors and stakeholders updated about any meeting and agenda, making a detailed note of the proceedings of the entire meeting and handling other documentary work falls into the role of a company secretary. The course of a CS is a professional course conducted by The Institute of Company Secretaries of India (ICSI). The course consists of three stages, Foundation, executive and professional program. A candidate should be 10+2 to start up with a foundation program.
 

There are various institutes that provide training and education to cost and management accountants in India. These institutes are dynamic, premier and professional institutes that are professionally associated towards the industrial and economic development of the nation. The accountant in this profession handles the responsibility as Cost and management Accountants. The job is basically concerned with the provisions and application of accounting information to managers within organizations that help them to make informed business decisions.
The basic tasks these accountants perform includes the process of identification, measurement, collection, analysis, formulation, rendering and communication of information and eventually takes place the preparation of a financial report. The ICMAI course is divided into 3 parts. First is the foundation course, which needs a minimum qualification of 10+2, however candidates already applied for the 12th and are awaiting for the results can also apply for the foundation course. Then comes the intermediate course. Although, students who are graduated directly become eligible for the intermediate course, they can skip foundation program. Then comes the final course.
 ICSI or the Institute of company secretaries of India is the leading entity  that offers valuable certifications to aspirants in the  company secretarial program. The major responsibilities of the institute include registering and keeping track of students, offering opportunities for practical training along with theoretical sessions, conducting examinations in company secretaryship, issuing Government Diploma to successful candidates and so on.
 

Whereas, for Cost and Management Accountant there are various other options, such as doing a certificate course in financial management or choosing up a financial planning course for your post graduation. Apart from the Institute of Cost and Management Accountant of India (ICMAI), many other ICMA institutes promise to offer an accountant course of this level. Mostly commerce students are eligible for this program. However, to enable non-commerce students the ICSI has made it compulsory to take up a course or oral tuition in those subjects of the foundation examination which he/she had not studied at the graduate or post graduate level.

So, basically CS handles the legal matters related to the company and CMA specializes in handling the accounts, bookkeeping and audit. ICMA includes collection, assimilation and analysis of financial information from all areas of the company while the role of a CS is that of an advisor in the legal matters of the company. They act as an intermediate between the company and its board of directors, stakeholders and the regulatory authorities.
 

Students, on completion of the CS course can find employment in government accounts or departments of law. Of late, ICMAI course was lagging behind. However, there were important changes in the regulations which has made this profession lucrative both on the professional front and practice. It is expected that the ICMAI courses will also attract more students in the coming years due to the increasing horizon of the profession.

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CWA CMA Provisional Rank list, June 2013 Examinations

ICWAI released the Rank List of CWA/CMA Intermediate and Final Examination conducted in June 2013. You can check the rank from below link.

Rank List of FINAL Exam (June-2013 Term).

Rank List of INTERMEDIATE Exam (June-2013 Term)

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ICWAI Guidelines for Revalidation of Coaching Completion Certificate

In case a student desires to appear at the Institute's Examination after 3

years from the date of issue of coaching completion certificate( Postal or Oral), he/she shall have to undergo a short form of Postal Coaching. The student should apply in a prescribed form to enroll himself for the short form of coaching with requisite fees for Revalidation of Coaching Completion Certificate under REVISED syllabus.

Tuition fees, per stage for this short form of Postal Coaching for Revalidation of coaching Completion Certificate shall be as under:-

Intermediate Rs. 800/- per stage

Final Rs. 1000/- per stage

The student is required to purchase stage wise set of test paper and related from on payment of Rs.5 per stage from Headquarters/Regional Councils/Chapters Or may download it from institute's website.

To appear at June and December examinations, answers to the test papers must reach the Director of Studies latest by 15th March and 15th September respectively.

This Article is written by CMA Samir Biswal. He can be reached at cmasamirbiswal@gmail.com

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Good news for CMA students

Good news for CMA students. Now the Students who wish to receive periodical updates from Institute can subscribe to the Student's Newsletter by entering their email address in our official website www.icmai.in. And Probable date of publication of Foundation and Inter/Final results are 16th July 2013 and 23rd August 2013. Must share and inform to all CMA students.

Click here to enter your email address : http://icmai.in/Student-Newsletter.html

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Admission to ICWAI Qualification

Foundation Course: Intermediate Course: Eligibility for Admission: a) 17 years of age; and (b) Passed Senior Secondary Examination under 10+2 scheme of a recognized Board Incumbents waiting for the result can apply for provisional admission Eligibility for Admission: (a) is not less than 18 years of age; and (b) has passed degree Examination of any recognised University or equivalent Incumbents waiting for the result can apply for provisional admission Fees Cost of Prospectus - Rs. 200/- Click here For complete fee details Fees Cost of Prospectus - Rs. 200/- Click here For complete fee details Documents to be enclosed with application form: 1.  Bank Draft ( as mentioned above) 2.  Attested Copy of Matriculation Certificate 3.  Attested copy of 10+2 Certificate or Marks Statement 4. Three photographs attested and pasted on the form (Attestation should be by any member of ICWAI /ICAI/ /ICSI/Parliament/Stage Legislative Assembly or a Gazetted Officer or a Principal of a college) Documents to be enclosed with application form: 1.  Bank Draft ( as mentioned above) 2.  Attested Copy of Matriculation Certificate 3.  Attested copy of 10+2 Certificate or Marks Statement 4.   Attested copy of the degree 5.  Three photographs attested and pasted on the form (Attestation should be by any member of ICWAI /ICAI/ /ICSI/Parliament/Stage Legislative Assembly or a Gazetted Officer or a Principal of a college) When to Apply: Exams are held two times in a year i.e. on 11th to 18th June and on 10th to 17th December.  For June Term Examination apply before 30th November of previous year and for December Term Examination apply before 31st May. Where to Apply: All students shall submit their Postal Application form, duly filled in together with relevant documents and remittances to their respective Regional Councils only.  Regional Councils and area covered by the region are given below: Address of Regional Councils of ICWAI Area Covered Western India Regional Council  "Rohit Chambers",4th Floor  Janmabhoomi  Marg,Fort  Mumbai - 400 001  Ph : 022-22872010/ 22841138/ 22043406/ 22043416  Fax : 91- 022- 22870763  Email :wirc@icwai.org Web site : www. icwai-wirc.org The State of Chhattisgarh, Gujarat, Madhya Pardesh, Maharashtra, Goa and the Union Territories: Daman Diu., Dadra, and Nagar Heveli. Southern India Regional Council  4, Montieth Lane, Egmore,  Chennai - 600 008  Ph:044-28554443/28554326/28528219  Fax : 91- 044- 28554651  Website:www.sircoficwai.com  Email: sirc@icwai.org   The State of Andhra Pradesh, Karnatka, Kerala, Tamilnadu, Pondicherry and the Unition Terrritory: the Lakshadweep Eastern India Regional Council  84, Harish Mukherjee Road,  Kolkatta - 700 025  Ph : 033 -24553418 /24555957  Fax : 91 033-2455-7920  Email :eirc@icwai.org The States of Assam, Arunachal Pradesh, Bihar, Jharkhand, Manipur, Maghalaya, Mizoram, Nagaland, Orissa, Tripura, West Bengal, Sikkim, the Union Territories: The Andaman and Nicobar Islands and Foreign Countries. Northern India Regional Council  3, Institutional Area, Lodi Road,  New Delhi - 110 003  Ph : 011 - 24626678 / 24615788  Fax : 24622156  Email :nirc@icwai.org The States of Delhi, Haryana, Himachal Pradesh, Jammu and Kashmir, Punjab, Rajastan, Uttar Pradesh, Uttraanchal and the Union Territory: Chandigarh. Candidates of Foundation, Intermediate and Final Examinations are allowed to exercise option for answering questions in Hindi

This Article is written by CMA Samir Biswal. He can be reached at cmasamirbiswal@gmail.com

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What is Difference between ICWA and CA??? ( Written by CMA Samir Biswal )

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. 

Minimum Duration of Cost and Work Accountancy course:

Foundation Program- 6 months, Intermediate Program- 12 months
Practical Training- 36 months, Final Course- 12 months

Fee Structure of Cost and Work Accountancy course:

• Foundation Course: Correspondence Mode-Rs.3500 and Oral Coaching - Rs.3500

• Intermediate Course: Correspondence Mode - Rs.15700 and Oral Coaching - Rs.19700

• Final Course: Correspondence Mode- Rs.11500 and Oral Coaching- Rs. 16500
  
  with Computer Training- Rs.3400 and Management Training Fee- RS.4000
  
  For further information, refer to the official website of The Institute of Cost Accountants
  
  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.

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.

  Difference between ICWA and CA

ICWA	CA
Knowledge of cost and financial management to ensure a fine balance between expenditures and available resources.	Thorough knowledge of every aspect of accounting, auditing and taxation.
Cost accountants are involved in the costing part of financial transactions.	CAs are involved in core accounting work of an organization
Cost Accountants assess the feasibility of projects  available funds	CAs analyse risk and design efficient financial system
Cost management and designing cost control methods are main duties of a cost accountant	Taxation and auditing are main duties of a chartered accountant
Good communication is a key skill in cost accountants	Important skills required is that of patience and confidence to handle responsibility

This Article is written by CMA Samir Biswal. He can be reached at cmasamirbiswal@gmail.com.

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IMPORTANT INSTRUCTIONS FOR FOUNDATION COURSE EXAMINATION OF ICWAI

1. Eligibility:-
No candidate shall be admitted to the Foundation Course Examination unless
(i) he/she has valid Identification No. and a valid Coaching Clearance Certificate;
(ii) he/she is not debarred from appearing ICAI Examination for the Term of Examination;
(iii) he/she has submitted the Examination form duly filled in within the specified time along with the requisite fees to the Director (Examination).

2. Mode of payment:-
Fees are to be deposited only by Demand Draft drawn on any scheduled bank in favour of "The Institute of Cost Accountants of India", payable at Kolkata. Payment by Money Order or Indian Postal Order or by Cheque will not be accepted.

3. How to fill up the form:-
The candidate is advised to ensure that
(a) The application is filled up completely and scanned photo & sign must be uploaded properly.
(b) The correct amount is remitted towards examination fees.
(c) The address furnished in the examination application form will be treated as the official communication address for sending Admit Card / Marks Sheet and any examination related correspondence.
(d) Medium of language for writing answers must be correctly mentioned. He/she may write answers either in English or in Hindi. Mixing up of both languages in the Answer Scripts will liable to be cancelled.
(e) A candidate must write his/her Name, Examination Centre in Block Letters and the Examination Centre Code in the space provided for in the Application Form. Centre once opted for will not be changed under any circumstances. See reverse for Examination Centre and Corresponding Codes.

4. (a) The Application Forms with all enclosures must be submitted to the Institute's Headquarters at 12, Shudder Street, Kolkata - 700 016.
(b) Foundation Course Examination Application Form properly completed should be    attached with.
(1) Demand Draft 
(2) Photo copy of Coaching Completion Certificate duly attested.

5. Last Date of Receipt of Application Form:-
Last date of Receipt of Applications at the Headquarters of the Institute is 10th April for June and 10th October for December Examinations. Applications may also be accepted within 10 days after the last date with late fee of 300/- only (US $10 for Overseas Candidates).

6. Non-Receipt of Admit Card :-
In case of non-receipt of Admit Card before ten days of the examination, enquiry to be made at ICAI HQ, Examination Directorate quoting the Examination Centre opted and Identification Number.

7. Forms for Overseas Centers are to be submitted to the Institute Headquarters at the above address.

8. Incomplete Application forms are liable to be rejected.

9. Request for change of centre will not be entertained under any circumstances.

10. Under no circumstances, request for refund of examination fees will be entertained.

11. The students are advised to keep the photocopy of the Demand Draft and the filled-up Examination Application Form with him/her before sending the same to the Institute for any further reference.

12. The Students are advised to go through the "Conditions for appearing in Examination" issued by the Directorate of Studies & Students will not be allowed to appear for Examination unless all conditions are fulfilled.

13. In case of any difficulty or for any clarification please contact your nearest Regional Council or Chapter Office or visit the Institute's Website [www.icwai.org] or Contact H.Q. Examination Directorate.

14. Any dispute arising out of matters of Examination shall be subject to jurisdiction of the Calcutta Courts.

This Article is written by CMA Samir Biswal. He can be reached at cmasamirbiswal@gmail.com

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Download ICWAI Admit Card 2013 for Dec Exam

1. We have a latest news updates on ICWAI Admit Card 2013 for December exam. ICWAI will be going to conducted Final, Inter & Foundation for Financial Accounting, Commercial and Industrial Law & Auditing, Applied Direct Taxation, Cost & Management Accounting, Operation Management and Information Systems, Applied Indirect Taxation exam 2013 on month of December. Approximate laces of candidates will appear in ICWAI Inter & foundation Exam 2013. Candidates can be download ICWAI admit card / hall ticket 2013 through online from its main official website like www.icwai.org used by registration number or application form number.

2. Download ICWAI Admit card 2013 process –

There are lots of candidates who are looking for download ICWAI exam admit card / hall ticket 2013 online. Candidates you can see direct download link in below. Every year ICWAI University will be upload Inter and Foundation Exam Admit card / hall ticket on given link. 

3. ICWAI ADMITS CARD 2013:      

Admit card can be downloaded from below link

http://icmai.in/examination/admitcard

4. Candidates if you want to received all latest news updates about ICWAI answer key 2013 and ICWAI results 2013 June & December Candidates touch with us for more updates or book mark this page for future reference.

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Tips for Effective Study

As we all know revision is an important aspect of preparation of professional examination. One needs to do intelligent revision of the course as many times as possible. Reason being lack of revision may become the reason of your failure. A good revision is just like a super –key to your success. But you must know how to use this key. Just think positive about your exam, about your exam preparation and other co-related things. Never think that “This technique is not gonna work for me”. Keep yourself ready to accept new ideas and tricks to succeed in life.   

Now CS December exams 2011 are just 2 weeks away. So I am making this effort to help them by sharing few suggestions regarding exam revision. Let me clarify this thing to every that these suggestions are also very useful for every student. If you like these suggestions please share your comments:
                            

1. Prepare a revision plan: Before starting the revision it is very important to prepare a revision plan. In fact this plan should be in your mind from the very starting i.e. when you start preparing for exams bcoz without proper revision it is very difficult to re-call anything during exam time.

2. Review the revision material: For a effective revision plan I would suggest you to divide the course content in to 3 categories:

• First: In the first category you may add all the important topics and frequently asked questions given in scanner. Here also add topics which are imp from the practical question point of view especially in Audit and law. 
• Second category: In the second category add topics regarding the exam importance of which you are confident and which are easy in preparation and revision. A good revision of this category will strengthen your position in exam.
• Third Category: In this category add the balance topics which are not important from exam point of view. Just give them a basic reading and finish them off. During routine preparation give this kind of topics a sound reading in order to understand them.

  

3. Knowledge of important chapters: Exercise given in second point will help you to understand the structure of course from the revision point of view. First of all at the time of revision it is very essential to have the knowledge of important chapters and topics. So prepare a list of important chapters and topics and first revise them. This will save your time and energy during the final preparation of your exam and enhance your confidence bcoz you know important topics are on your tips at the exam time.

4. Simple reading to other topics: For topics not covered in point no. 2 (a) and (b), i.e. those which according to you are not really important for coming exam, just give them a reading for better understanding. Try and be confident about these topics. Basic knowledge of these topics is enough. This will again save your time and energy and prevent you from confusion regarding what to revise and what to leave.

                            

5. Prepare very small notes for revision: During my study time I was really fond of this technique. We used to prepare very short note of a super imp topics in out note book and mention the page number of note book on our study material or reference book. Later on during final revision open that page number of your note book and revise the topic quickly.

                          

6. Discussion with your group: Another wonderful way to revise is to discuss topics with your friend circle. It will help to you revise the things without any special effort and improve your re-calling power. I used to teach my friends who help me a lot to make commend on given topics especially in law. If you successfully resolve the study related issues of your friends that means your preparation is good.

                               

7. Avoid multiple reference books or notes: During normal preparation it is very much understandable to refer more than one book or notes. However in the process of revision I would suggest you to use single book or use your note book. This is really important to save your time and maintain your revision planning. Revising one topic from multiple books is really fetal to your preparation. Hence plz remember this point.

                         

8. Use latest gadgets: Earlier this technique was not available for our revision and now also most of the students are not aware about this trick to revise. I got this idea from my cousin. He used to feed the notes in his phone enriched with MS office and easily revise everything during commute time. I really found this trick very useful and now with technological advancement in the field of phones and i-pads it becomes very easy for everyone. I understand it is not possible for everyone but still we may consider this as a revision method.   

                         

9. Workout on your basics and follow conceptual study: For quick and successful revision at the exam time it is very important to have clear idea of concepts and basics. If your concepts and basics are not clear then revision will take extra time. So as per my suggestion work very hard at the time of usual preparation for a better result bcoz revision process is just to remind you what you have prepared during usual preparation of your subject and chapters.

                              

10. Understand the importance of time management: If you are not interested in understanding the importance of time management, then this kind of professional study is not for you. A good time management is required at every stage of your professional life. Follow your revision schedule regularly without fail. Always think about how to use your time in the most efficient manner. In short never waste your time as it is money.

Hope you find the above points useful. Please try to implement them in your study.

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