All about the differences between CA and ICWA

India

01 May 2019

#CareerBytes: What is the difference between CA and ICWA?

In India, Chartered Accountancy and Cost Accountancy are the most popular career options among commerce students after Class-12.

Chartered Accountancy is offered by the Institute of Chartered Accountants of India, and Cost Accountancy, by the Institute of Cost and Work Accountants of India.

Many are often confused about which course to pursue; to help them choose better, here are some differences between these courses.

Details

Different levels and duration of the courses

Different levels and duration of the courses

Chartered Accountancy course is divided into three stages: the Common Proficiency Test or CPT, Intermediate Course or IPCC, and the Final course. After Class 12, the minimum duration of the CA course is four-and-a-half years.

Similarly, Cost Accountancy course has three stages: the Foundation course (minimum 8 months duration), Intermediate course (minimum 10 months duration), and the Final examination minimum 18 months duration).

Eligibility

Eligibility criteria for CA and CWA courses

CA: Those who have passed Class 12 (or equivalent) from any stream from a recognized education board and have registered with ICAI for Common Proficiency Course (CPC) are eligible to apply for the Common Proficiency Test (CPT), the entry-level CA course test.

CWA: Those who have passed Class 10 are eligible for ICWA Foundation course; for Intermediate course, candidates must have passed Class 12.

Love India news?

Stay updated with the latest happenings.

Yes, notify Me

Scope

Scope and career prospects of CAs and CMAs

Scope and career prospects of CAs and CMAs

Chartered Accountants (CAs) are involved in various roles. They have a wide-range of job options with companies; they can also practice privately. CAs can do cost auditing, statutory auditing, tax-auditing, banking, etc.

Cost and Management Accountants (CMAs) can join companies or take up consultancy work with firms. With experience, they can become Financial Controllers, Chief Accountants, Cost Controllers, Marketing Managers, or Chief Internal Auditors.

Job profiles

Job profiles of Chartered Accountants, Cost Accountants

Chartered Accountants are involved in accounting, auditing, and taxation. They are responsible for an organization's core accounting work. They analyze financial risk factors, look after taxation and auditing, and design an efficient financial system for an organization.

Coming to Cost and Management Accountants (CMAs), they look after the costing part of an organization's finances. They look after cost management, cost-controlling, and profitability of projects.

What about the difference in salary?

According to salary-comparison website PayScale, at the entry-level, a Chartered Accountant (CA) can expect an average pay of up to Rs. 6.42 lakh per annum. On the other hand, the average salary for Cost and Management Accountant (CMA) is Rs. 4 LPA at the entry-level.

Share this timeline

Career Bytes

CareerBytes

Chartered Accountancy

Chartered Accountant

Chartered Accountants

Chief Accountants

Chief Internal Auditors

Class 10

Class 12

Class 12 Accountancy

CMA

Commerce College

Common Proficiency Course

Common Proficiency Test

Cost Accountancy

Cost Accountants

Cost Controllers

CPC

CPT

Financial Controllers

ICAI

ICWA Foundation

India

Institute of Chartered Accountants of India

Institute of Chartered Accountants of India (ICAI)

Institute of Cost

Intermediate Course

IPCC

LPA

Management Accountants

Marketing Managers

PayScale

Students

Work Accountants

Share this timeline

Ask NewsBytes
User Image

Most asked questions

Is there any age limit to pursue CA?

Can a student opt to do both the courses at the same time?

If one qualifies CMA foundation in December 2019, can s/he write CMA intermediate in June 2020?

Which one of the two offers better salary?

I have completed my education through Hindi medium, can I give ICWA in Hindi?

More questions

Is there any age limit to pursue CA?

Asked 2019-05-02 12:16:47 by Sai Murali

Answered by NewsBytes

No, there is no age limit for CA.

Can a student opt to do both the courses at the same time?

Asked 2019-05-02 02:46:28 by Saketa Shetty

Answered by NewsBytes

You are suggested to take prior permission so that there is no clash with your Articleship.

If one qualifies CMA foundation in December 2019, can s/he write CMA intermediate in June 2020?

Asked 2019-05-01 21:42:27 by Khaleel Ahamed

Answered by NewsBytes

No, there has to be a minimum gap of nine months.

Which one of the two offers better salary?

Asked 2019-05-01 20:22:30 by Hashly Hari

Answered by NewsBytes

According to salary-comparison website PayScale, at the entry-level, a Chartered Accountant(CA) can expect an average pay of up to Rs. 6.42 lakh per annum. On the other hand, the average salary for Cost and Management Accountant (CMA) is Rs. 4 LPA at the entry-level.

I have completed my education through Hindi medium, can I give ICWA in Hindi?

Asked 2019-05-01 07:16:30 by RAJAB REHMAN

Answered by NewsBytes

Yes, you can opt for Hindi has your medium for ICWA exam.

Next Timeline