Executive Diploma in Cost & Management Accounting by ICMAI for Engineers

• Prabhat Rathi


• 3 Jan 2018

The Directorate of Advanced Studies of ”Institute of Cost Accountants of India” previously known as ”Institute of Cost and Works Accountants of India” provide advanced knowledge and specialized training on various areas of Cost & Management Accounting, including finance and other allied subjects.

The Directorate shall design, develop and deliver advanced courses that are of interest to Management Accountants and other professionals. It will also take up research in the area of Management Accounting and allied field of study.

In today’s world, the profession of conventional accounting and auditing has taken a back seat and cost and management accountants are increasingly contributing toward the management of scarce resources and apply strategic decisions. This has opened up the further scope and tremendous opportunities for cost accountants in India and abroad.

The Board of Advanced Studies of the ICAI (ICMAI) have launched four new Advanced Studies Courses for the members and non-members w.e.f. January 01, 2018 to cope up with the changing business scenario in the context of the Indian and Global economy, one of them is “Executive Diploma in Cost & Management Accounting for Engineers” course. AfterGraduation here provides the details about the Course – Eligibility Criteria, Learning Outcomes, Details of the Course, Course Fees, Evaluation procedure, Course duration and others.

About the Course:

• In the modern competitive business environment, suitable business decision making is very crucial. All professionals irrespective of their domain expertise needed to understand the commercial aspects of the business, to contribute effectively and efficiently to the strategic business decision making.
• Engineers being the frontline technocrats, are a part of the team for taking various commercial decisions in the interest of the organization, which requires adequate expertise to understand the various facets of Cost, Finance, Taxation, Business Laws and other such aspects.
• This course has been specifically designed for Engineers to synergize their domain expertise with the commercial link in a most practical oriented manner.

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Who can be Benefitted from the Course:

• Engineering Graduates of any discipline
• Frontline Technocrats
• Decision makers on the Shop Floor
• Engineers working on Commercial propositions like Bidding and Evaluations, Maintenance, Quality Engineering, Cost Engineering, etc.
• Those who are interested to have a competitive advantage in their Engineering career by acquiring basic knowledge of cost & management accountancy, finance, and corporate laws.

Learning Outcomes:

The curriculum aims to make the participants:

• Understand and make use of the framework of costing in various managerial decisions.
• Determination of products and services cost.
• Understand the framework of accounting systems and financial reporting.
• Understand the fundamentals of contracts, agreements relevant to business decisions.
• To gain working knowledge of indirect taxes and application of the same in the industry.
• To get an insight into treasury management, understand risk, their mitigation, and management.
• Understand the essentials of project management.

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Eligibility Criteria:

• Engineering Graduates of any discipline (BE, B.Tech) with average minimum marks of 60 %
• Working Experience of 1-2 years will be added advantage.

Admission Procedure:

• Admission will be online only through Payment Gateway system.
• For admission please visit the Institute’s website www.icmai.in and Advanced Studies Portal.
• There will be no offline mode of admission.

Course Duration and Modalities:

• Total: 5 Modules (500 marks) + Project Work (Grade system)
• Course Duration: 6 months
• Course Fee: INR 50,000/- (including registration and study material) + Applicable GST
• Special Discount for CMA Live Members: For CMAs having a live membership of the Institute will be given 20% special discount on the course fee.
• Examination: Twice in a year (June and December)
• Minimum pass mark: 50. Marks above 60 in a subject will qualify for an exemption in that subject.
• Re-registration with a fee of INR 3,000/- after 3 years of initial admission.
• Study Materials and sample question papers for each subject will be provided.
• 20 hours Webinars and 10 hours off-line Contact Classes for each module.
• Contact Classes will be held at Bangaluru, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi and Pune in weekends (Saturdays and Sundays) on a full-time basis.

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Evaluation Mechanism and Fees:

• Participants will be evaluated through written examination.
• The examination will be conducted by the Examination Department of the Institute twice in a year along with other examinations.
• The participants will be evaluated for each module of the course.
• The participants who will score 50 percent or more in the examination for each module and will obtain B or higher grade in the project will be awarded the Diploma in Valuation by the Institute.
• Grades will be awarded for project work and will not be included in calculating aggregate marks.
• Examination fee (excluding Project) is INR 3000/- per attempt.
• In addition, an amount of INR 1000/- will be charged for the Project assignment.

Here you got the details about ICAI (ICMAI) Advanced Studies Course “Executive Diploma in Cost & Management Accounting by ICMAI for Engineers”. Have any doubts or comments, you can post either on the AfterGraduation Forum or in the below comment box. Connect with us for more updates, follow Linkedin, Facebook, and Twitter or you can write to us at my.counselor@aftergraduation.co.in