The Institute of Cost Accountants of India Entrance Exam

The Institute of Cost Accountants of India Entrance Exam

Mode of ExamOffline
Level of ExamNational Level

ICWAI CMA exams are organised by The Institute of Cost & Management Accountants of India (ICMAI). Before it was known as ICMAI, it was previously called The Institute of Cost and Works Accountants (ICWAI).

ICWAI was set up with an aim to promote and regulate the Cost and Management Accountancy profession in India. Cost Accounting is different than financial accounting.

In Financial Accounting, the accounting is done for the transactions already made between the two parties and the objective is to ascertain the profit or loss suffered by the business entity during the financial year. Whereas in Cost & Management Accounting, the main objective is to ascertain the cost of materials required in running the business so that proper allocations can be made and there is no shortage.

 It offers courses at different levels as under: 

  • ICWAI Foundation course
  • ICWAI Intermediate course
  • ICWAI Final course


ICWAI courses

Eligibility Criteria

ICWAI Foundation course

Candidates must have passed Class 12th or equivalent from a recognized board of education.

Candidates passed in the equivalent examination under:

  • Central Government or National Diploma in Commerce Examination held by the All India Council for Technical Education
  • Any State Board of Technical Education under the authority of the said All India Council, or
  • The Diploma in Rural Service Examination conducted by the National Council of Higher Education

ICWAI Intermediate course

Candidates must have passed a class 12th or equivalent examination and Foundation course of ICWAI or Graduation in any discipline other than:

  • Fine Arts/ Foundation (Entry Level) Part I Examination of CAT of the Institute
  • Foundation (Entry Level) Part I Examination and Competency Level Part II Examination of CAT of the Institute

ICWAI Final course

The candidate should have passed standard 12th

  • The candidate should be a Graduate in any discipline except Fine Arts or equivalent
  • The candidate should have cleared all eight papers of CMA intermediate course

1. Foundation Course:

  • Fundamentals of Economics And Management
  • Fundamentals of Accounting
  • Fundamentals of Laws and Ethics
  • Fundamentals of Business Mathematics and Statistics

2. Intermediate Course Group – I

  • Financial Accounting
  • Laws and Ethics
  • Direct Taxation
  • Administrative Procedure and ICDS
  • Cost Accounting

3. Intermediate Course Group – II

  • Operations Management & Strategic Management
  • Cost & Management Accounting and Financial Management
  • Indirect Taxation
  • Company Accounts & Audit

4. Final Course Group – III

  • Corporate Laws & Compliance
  • Strategic Financial Management
  • Strategic Cost Management – Decision Making
  • Direct Tax Laws and International Taxation

5. Final Course Group – IV

  • Corporate Financial Reporting
  • Indirect Tax Laws and Practice
  • Cost and Management Audit
  • Strategic Performance Management and Business Valuation
Application Start Date :

1st February 2021

Application End Date :

10th February 2021

Exam Date :

5th September 2021

Result Date :

30th November 0000

Conducted By :

Institute of Cost & Management Accountants of India (ICMAI)

Official Website : https://icmai.in/icmai/