Career Prospects in Cost Accounting
How is the scope in cost accountancy (as a career) as compared to other career options? Is the future bright, if I choose my career in this field?
Once you have passed the exam for ICWAI and are qualified as a cost accountant there are various career options that you can choose from. You could either serve in a public sector or a private sector, in an industry or opt for government service. There is plenty of scope in the banking and insurance sectors. There is always the option of practising as a consultant. A third option is to impart teaching at institutes or at universities. Higher academic pursuit for a doctorate is also possible. The programme offered by ICWAI is widely recognised by Association of Indian Universities for admission to Ph.D courses in commerce and allied subjects. There is an increasing demand for cost accountants in the recent scenario and to facilitate this demand The Institute of Cost and Works Accountants of India (ICWAI) is catering junior accountants by launching a new certificate course. It’s a one year course which is called as certificate in accounting technicians would train students after class XII to take up jobs requiring basic accounting skills. It’s been done so as to meet the increasing demand in the industry for the profile of cost accountant.
If we put it this way then we can see that this is creating job employment and opportunities for students. This opens the door of opportunity for all these young students to work as a junior accountant in small and medium enterprises, retail sector, and business process outsourcing companies. They would be able to handle Panchayat accounting and book keeping, export-import documentations and income tax and service tax returns.
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