The Institute of Cost and Works Accountants of India (ICWAI) ICWAI

About ICWAI
The profession was established by a special act of Parliament, namely, the Cost and Works
Accountant Act, 1959. With the passing of the act, "The Institute of Cost and works Accountants of
India" was established in 1944 and was registered as a company under the Companies act with
the objectives of promoting, regulating, and developing the profession of Cost Accountancy.

Welcome to the Cost and Works Accountants of India. It is a premier, dynamic, vibrant
professional institution actively associating itself in the industrial and economic development of the
nation. The profession places itself at the service of the nation, government, industry, and the
society to realise the objectives of a welfare state resulting in the prosperity and the well being of
its people - a fact increasingly realised with the opening up of the country's economy and change
in the economic scenario of the world. In today's world, the profession of conventional accounting
and auditing has taken a back seat and accountants increasingly contribute towards the
management of scarce resources like funds, land and apply strategic decisions. This has opened
up further scope and tremendous opportunities Cost and Works accountants to shoulder
responsibility as Cost and Management Accountants in accordance with new dimensions and
vision here in India and abroad. Members of this profession will be the driving force in the team of
management while in employment and a key consultant, an effective Cost and Management
Auditor and an appropriate advisor in place. This is why Cost Accountants in India are called
Management Accountants all over the world. Its our other name.
Vision Statement
"ICWAI would be the preferred source of resources and professionals for the financial leadership
of enterprises globally "
Mission Statement
"ICWAI professionals would ethically drive enterprises globally by creating value to stakeholders in
the socio-economic context through competencies drawn from the integration of strategy,
management and accounting."
ICWAI Launches CAT Course

New Delhi, January 09, 2008: Hon’ble Shri Prem Chand Gupta, Union Minister for Corporate
Affairs, today formally announced a one year course on “Certificate in Accounting Technicians
(CAT)”, offered by The Institute of Cost and Works Accountants of India (ICWAI).
ICWAI has launched course on Certificate in Accounting Technicians to address the heavy
demand of trained accountants at junior level in India. The course will focus on imparting
necessary skills to students to apply in practical situations in different functional areas of
accounting and to provide on-job experience of practical aspects of accounting.
 CAT(Certified Accounting Technician) Course Detail for
Graduates
1. Reg. form – 50/-
(in case of downloaded form then it will be adjusted in Reg. Fee)
2. Reg. fee - 8500/- + 500 (orientation fee).
3. Reg. fee includes Adm. Fee of competency level
60 hrs. computer training, study material, tuition fee
4. Attempt  June & Dec.
st
5. last date of Reg. for June is 31 Dec.
th
6. last date of Reg. for Dec. is 30 June.
7. Examination centre  Delhi, Chdandigarh Etc.
8. Examination fee – 730/-
9. DD for Reg. fee & examination fee will be in favour of “ICWAI A/C CAT”
Payable at new Delhi
10. Examination form will be available in Oct. and April.
11. 70% attendance required for giving examination.
12. Subject in competency level.
a) financial accounting
b) Applied statutory compliance
13. Entry level consists four subjects & that is exempt for graduate level.
a) organization & Mgt. fundamental
b) Accounting
c) Economics & Business fundamentals
d) Business mathematics & statistics fundamentals

14. In competency level. IT training of 60 hrs. and tally ERP is must

15. 15 days orientation or PDP session is also must
16. After completion of Competency Level of 6months training in industry or
under C.A. is must. If any student has practical exposure in any private
industry then he/she will get exemption.
17. Result declares of Dec. attempt in Feb.
June attempt in August.
18. 40% marks compulsory in each subject to clear exams & aggregate 50%.
19. Students have 7 yrs. To clear their exams.
COMPETENCY LEVEL COURSE Part-II
FINANCIAL ACCOUNTING (ONE PAPER: 3 HOURS :100 MARKS)
OBJECTIVES
To gain understanding and to provide working knowledge of accounting concepts,
detailed procedures
and documentation involved in financial accounting system.
Learning Outcomes
On completion of their studies students should be able to:
� Know the Accounting convention and practices.
� Know Royalty and Hire Purchase accounting.
� Know how to prepare Receipt & Payment and Income and Expenditure Account.
� Understand the accounting treatment of revaluation of assets, liabilities, accounting
on admission,
retirement of partners, dissolution, insolvency etc.
� Various methods of calculating goodwill and its treatment.
� Branch and Departmental Accounting.
� Applicability of accounting standards, scope and compliance with accounting
standards.
� Know the purpose of formation of a company, issue of shares and its accounting
treatment
� Know the accounting aspects of Rights shares, Redeemable Preference shares and
Debentures.
� Accounting for Construction companies, Service sector organizations etc
� Preparation of accounts for services sector.
CONTENTS
1. Accounting Conventions and Practices 10%
2. Royalty and Hire Purchase 10%
3. Receipts & Payments/ Income & Expenditure Accounts 10%
4. Partnership Accounting 10%
5. Branch and Departmental Accounts 10%
6. Accounting Standards 10%
7. Joint Stock Companies 10%
8. Preparation of Company Accounts 10%
9. Accounting services in organizations 10%
10. Accounting and Interpretation of Financial Statements 10%
1. Accounting Conventions and Practices
� Concept
� Depreciation and various methods thereof
� Stock valuation
� Distinction between Capital and Revenue
2. Royalty and Hire Purchase
� Royalty accounting
� Need for hire purchase and installment systems and parties involved.
� Accounting from the point of view various parties.
COMPETENCY
LEVEL COURSE
� Possession and repossession in case of default in payments.
3. Receipts & Payments/ Income & Expenditure Accounts
� Receipts & Payments
� Income & Expenditure Account
4. Partnership Accounting
� Past adjustments and guarantee
� Admission & Retirement
� Assignment of life policy
� Amalgamation and Sale of Business
� Dissolution, Insolvency
� Piecemeal Distribution
5. Branch and Departmental Accounts
� Branch accounts- Debtors system, Stock & Debtors system, Foreign Branch.
� Treatment of shortages.
� Calculation of net profit of various departments and allocation of expenses on the
basis of
suitable base.
� Preparation of common balance sheet.
� Treatment of Unrealized profit.
6. Accounting Standards
� Applicability of a particular accounting standard.
� Interpretation of various accounting standards.
� Scope of accounting standards.
� Compliance with the Accounting Standards.
7. Joint Stock Companies
� Issues of shares at par, discount & premium, forfeiture, reissue of shares
� Bonus issue and right issue
� Buy back of shares
� Redemption of Preference shares
� Profit prior to incorporation
� Issue and redemption of debentures
8. Preparation of Company Accounts
� Preparation of Final Accounts under Company Law
9. Accounting services in organizations
� Construction companies, Project Accounting
� Service sector such as Software, ITES, Telecommunication, Entertainment,
Hospital, educational institutions
� Banking, Electricity and Insurance companies
10. Accounting and Interpretation of Financial Statements.
COMPETENCY
LEVEL COURSE
18
PAPER 7A: APPLIED STATUTORY COMPLIANCE (ONE PAPER : 3 HOURS : 100
MARKS)
OBJECTIVES
To gain understanding and to provide working knowledge of procedures, records and
returns under tax
laws and companies act.
Learning Outcomes
On completion of their studies students should be able to:
� Know the basic principles underlying direct as well as indirect taxes.
� Know various records and returns under tax laws.
� Know statutory compliance under companies act.
CONTENTS
A. Concept of Taxation
1. Central Excise 25%
2. Customs 10%
3. Service Tax 15%
4. VAT/CST 10%
5. Income Tax 20%
B. Companies Act 10%
C. Other Compliances 10%
A. Concept of Taxation
1. Central Excise
� Concept of Excise
� Laws relating to Excise
� Goods Manufactured & Manufacturer
� Classification of goods
� Valuation under central excise.
� Basic Procedures and Records
i) Registration
ii) Storage & Accounting
iii) Invoice
iv) Excise Duty Payment
v) Periodic Returns
vi) Export Procedures
vii) Export under Bond and Export under Rebate
viii) Bringing goods in Factory for repairs
� CENVAT
i) Background of Cenvat
ii) Cenvat on Inputs / Input Service and Capital Goods
iii) Availment & Utilisation of Cenvat Credit
iv) Exempted Goods / services and obligation
v) Removal of inputs / capital goods
vi) Records / Accounting of Cenvat
� Job-Work under Excise
� Small Scale Industries and Excise.
2. Customs
i) Introduction
ii) Scope
iii) Types of Customs Duties
COMPETENCY
LEVEL COURSE
19
iv) Valuation under Customs
v) Customs Procedures
vi) Import Procedure
vii) Export Procedure
viii) Baggage
ix) Exemptions / Refunds
3. Service Tax
� Background
� Nature of Service Tax
� Service Provider and receiver
� Value of service
� Exemption under Service Tax
� Procedure
i) Registration
ii) Billing
iii) Payment
iv) Returns
� Export & Import of Services Shared be same as as one
4. VAT / CST
� Scope
� Interstate / Intrastate Sale
� Various forms under CST
� Returns
� Audit.
5. Income Tax
� Basic Concepts
i) Assessment Year
ii) Previous Year
iii) Person
iv) Assessee
v) Income
vi) Residence / Non-residence,etc..
� Income exempt from Tax
� Salary
� House Property
� Profits & Gains of Business or Profession
� Returns
� Assessments
� Tax Audit
� TDS & its Returns
� Concept of Transfer Pricing
� Fringe Benefit Tax
B. Companies Act.
� MCA 21.
� Concept of corporate governance.
C. Other Compliances
� Provident Fund.
� Minimum Wages Act.
� ESI.
� Workmen Compensation Act.
� Bonus.
� Gratuity.
� Other compliances.
CAT (Certified Accounting Technician) course Detail for 10+2 level
1) 10+2 cleared student
2) Two parts of CAT course
i. Entry level ii Competence level
a) organization  Mgt. fundamental a) Financial Accounting
b) Accounting b) Applied statutory compliance
c) Economics & Business fundamentals
d) Business mathematics & statistics fundamentals
3) Reg. form – 50/-
(in case of downloaded form then it will be adjusted in Reg. Fee)
4) Reg. fee – 8600/- + 500/- (Orientation Fee)
5) Reg. fee includes fee of entry level
i. 60 hrs. Comp. Training
ii. Study Material
iii. Tuition fee.
6) If any student is not cleared in entry level then he can give exam of entry level
with competency level with examination fee of entry level.
7) Attempt  June & Dec.
8) last date of Reg. for June is 31st Dec.
9) last date of Reg. for Dec. is 30th June.
10) Examination centre  Delhi, Chdandigarh etc.
11) Examination fee – 730/-
12) DD for Reg. fee & examination fee will be in favour of “ICWAI A/C CAT”
Payable at new Delhi
13) Examination form will be available in Oct. and April.
14) 70% attendance required for giving examination.
15) Entry level consists four subjects & that is exempt for graduate level.
16) In competency level. IT training of 60 hrs. and tally ERP is must
17) 15 days orientation or PDP session is also must
18) After completion of Competency Level of 6months training in industry or
under C.A. is must. If any student has practical exposure in any private
industry then he/she will get exemption.
19) Result declares of Dec. attempt in Feb.
June attempt in August.
20) 40% marks compulsory in each subject to clear exams & aggregate 50%.
21) Students have 7 yrs. To clear their exams.
Foundation Course
Paper 1 : Organization & Management Fundamentals
Objective
To gain basic knowledge in Organizational Management
To understand the concept of business management at the macro level
Section I : Organization 30%
1. Nature and Functional Areas of Organization 10%
Organizational structures.
Functional areas of business and their operations
Activities of different functions
Formal & informal organizations: principles of organizations
Criteria for grouping
2. Schools of Organizational theory 10%
Classical, behavioural and systems
Current trend and approaches
Behaviour in organizations
Role of behavioural science
3. Organizational Management 10%
Objectives ( missions, goals and targets)
Conflicts between objectives
Appropriate strategy formulation
Determinants of culture
Different models available for categorizing cultures
Different models of organizational model management available to achieve goal
congruence.
Section II : Management 70%
4.. Human resource management 20%
Human resource plan
Human issues relating to recruitment, dismissal, retirement and redundancy
Models of Human Behaviour and Motivation and its applications (Taylor, McGregor,
Maslow, Hertzberg etc).
Training & development.
Development and design of reward system
5. Management of Relationship 20%
Process of Management covering planning, organizing, staffing, directing, motivating,
communicating and control
Concept of power, authority, responsibility and delegation
Characteristics of leaders and managers
Management Style theories
Contingency approach
6. Management of Change 15%
Stages & Process of Management change
Structural change & Cultural change
Approaches to the management of organizational development
Importance of managing critical period of change
Ways of handling these periods of change
7. Pattern of Management 15%
Broad policies and functions
Structural pattern of Board of Directors.
Concept of public sector, social objectives, public sector management
Current management thoughts
Paper2: Accounting (One Paper: 3 hours:100 marks)
Objectives
To understand fundamental accounting principles
To understand basic concept of cost accounting
1. Basics of Bookkeeping and accounting 10%
Definitions and its usefulness
Financial Accounting principles, concept and convention – measurement of business
income
Position statement
Accounting Standards – national and international ( basic knowledge)
2. Systems of Bookkeeping 10%
Double entry system, books of prime entry, subsidiary books
Recording of cash and Bank transactions
Preparation of ledger accounts
Preparation of trial balance – interpretation and usefulness
3. Bank Reconciliation statements 5%
Need for reconciliation between cashbook and bank pass book and problems relating to
the preparation of bank
reconciliation statements.
4. Accounting System 25%
Concept of capital, revenue, deferred revenue expenditures, opening entries, closing
entries, adjustment entries
and rectification entries.
Accounting treatment for bad debts, reserve for bad debts and other adjusting entries.
Depreciation- significance, accounting and various methods of calculation of
depreciation.
Concept of single entry system, conversion of single entry system into double entry
system of accounting.
Preparation of receipts and payments accounts, income and expenditure accounts.
Significance of reserves and provisions.
Bill of Exchange, consignment and joint venture
5. Elements of Cost Accounting 15%
Basics of cost and management accounting:
Evolution of cost accounting and management accounting, cost concepts and cost
object,
Cost classification, cost organization and its relationship with other departments.
Elements of cost and cost determination.
Material cost-purchase procedure, store keeping and stock control, pricing issue of
material and accounting thereof,
perpetual inventory and physical stock taking, identification of slow, non-moving and fast
moving items, ABC
analysis, JIT system, level of inventories and economic order quantity, analysis,
investigation and corrective steps
for treatment of stock discrepancies – control through other means.
Labour costs – remuneration methods, monetary and non-monetary incentive schemes,
payroll procedures, labour
analysis and idle time, measurement of labour efficiency and productivity, analysis of
non productive time and its
cost, labour turnover and remedial measures, treatment of idle time and overtime.
Direct expenses – nature, collection, classification and treatment of direct expenses.
Overheads – nature, collection and classification.
 Production overheads – collection, apportionment, absorption, use of predetermined
recovery rates, treatment of
under and over absorption, fixed, variable and semi variable overhead, report for control
of overhead cost.
Administration, selling and distribution overheads – analysis, accounting and control,
treatment of miscellaneous
items in cost accounting.
6. Cost Sheets 15%
Cost data collection
Cost Sheet formats
Preparation of cost sheets.
7. Behaviour of Costs 20%
Fixed & Variable costs
Direct & Indirect costs
Cost Behaviour for decision making
Marginal Costing and Break Even Analysis
Paper 3 : Economics and Business Fundamentals ( One paper : 3 hours : 100
Marks)
Objective
To gain basic knowledge of economics
To understand different structures of organization
To know how stock exchange functions
A. ECONOMICS (60 marks)
1. Basic Concepts of economics 10%
The Fundamentals of Economics & Economic Organizations
Utility, Wealth,
Basic Elements of Supply and Demand, elasticity
Equilibrium
Theory of Production
Cost of production,
2. Forms of Market 5%
Perfect competition and Imperfect competition
Pricing in perfect and imperfect competition
3. National Income 5%
Gross National Product
Net National Product
Measurement of National Income
Economic growth and fluctuations
Consumptions, savings and investments
4. Theory of Employment 5%
Type of unemployment
Concepts of full employment
Labour and Population theories
Definition of capital and growth of capital
Steps in capital formation
5. Money 10%
Definition and functions of money
Quantity theory of money
Inflation and effect of inflation on production and distribution of wealth
Control of inflation
Money supply
Liquidity preference and marginal efficiency
 Rate of interest and investment
6. Banking 10%
Definition
Functions and utility of Banking
Principle of commercial banking
Essentials of sound banking system
Multiple credit creation
Functions of Central Bank
Weapons of credit control and money market
National & International Financial Institutions
7. International Trade 5%
Basic feature of export and import
Competitive advantage of trade
8. Public Finance 10%
Direct and indirect taxes
Principle of taxation
Effect of taxation on production and distribution
Deficit financing system
B. Business Fundamentals (40 marks)
9. Type of Business Unit 10%
Sole proprietorship, Partnership, Companies, Cooperatives
Hindu Undivided Family
Joint Stock Companies
Public Utilities services
State Enterprises
Limited Liability Partnership
10. Company Organization and Management 10%
Types of companies and their formation
Incorporation and commencement of business
Memorandum of Association, Articles of Association and Prospectus
Shares and debentures
Board of Directors and General Meeting
11. Business Objectives 5%
Concept and rationale of social responsibility
Business and its environment, interface with legal, political, economic, social and
cultural aspects
12. Stock Exchange and its workings 10%
Dealers and brokers transactions
Economic significance, condition of membership
Role of stock exchanges , Depository participant
13. Business Communication and Report Writing 5%
Paper 4: Business Mathematics and Statistics Fundamentals (One Paper: 3
hours:100 marks)
Objectives:
To understand basic concepts in mathematics and statistics which are applied in the
management science.
1. Arithmetic 10%
Average, mixtures
Ratios and proportions
Computation of interest
Discounting of bills
2. Algebra 15%
 Real and imaginary number, rational and irrational number
Set theory and simple application of Venn diagram
Truth table and its applications
Indices and surds
Variation, Logarithms
Permutations and Combinations
Compound interest
Linear simultaneous equations ( 3 variables only)
Quadratic equations
Solution of linear inequalities ( by geometric method only)
3. Mensuration 15%
Area and perimeter of triangles, circles, parallelogram, regular polygon
Volume and surface of cube, prism, cylinder, pyramid, cone, and spheres ( including
zone and segments)
4. Co-ordinate Geometry 10%
Plain co-ordinate Geometry ( Rectangular Cartesian co-ordinates only)
Length of line segments, Section ratio
Gradient of a line, equation of straight line, Circles, parabola, ellipse and hyperbola
( standard forms only)
5.Calculus 15%
Constant &Variables, Functions, Limit & Continuity
Differentiability & Differentiation, Derivatives and their use, Successive & partial
differentiation
Maxima & Minima, Maxima & Minima under constraint using Lagrange transform
Indefinite Integrals: as primitives, integration by substitution, integration by part
Definite Integrals: Evaluation of standard integrals, as area under curve
Applications of Calculus
6. Statistical Methods 35%
Data tabulation and presentation, frequency distribution
Measures of Central Tendency ( Mean, Median, mode)
Measurement of Dispersion ( range, mean deviation, standard deviation, variance)
Measures of Skewness & kurtosis