Institute of Cost And Works Accountants of India ICWAI

About Institute of Cost And Works Accountants of India ICWAI

The Institute of Cost and Works Accountants of India is a premier, dynamic and 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 and the society to realize the objectives of a welfare state resulting in the prosperity and the well being of all its people - a fact increasingly realized with opening of the country's economy and change in the economic scenario of the world.

The Cost and Works Accountants on India web site. We are 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 it's 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. It's our other name. We invite you to browse through our website. Complete Information on our working, history and professional accredition are all available here. Follow the links below for all the information at your fingertips.

1945 brought the end of the war, and the nations ravaged by the effects of war began large-scale reconstruction of their economies through industrialisation. The end of colonialism meant that many nations gained their independence, and this process increased rapidly. The late forties and fifties can really be termed the golden era of industrialisation. The importance of cost accounting as being central to the formation of government policies provided the foundation of the rapid growth of the profession. What began as a mere exercise in estimating the cost later developed into a movement for efficiency and optimum utilisation of scarce resources.

The Institute of Cost Accountants of India (erstwhile The Institute of Cost and Works Accountants of India) was first established in 1944 as a registered company under the Companies Act with the objects of promoting, regulating and developing the profession of Cost Accountancy.