COST AND MANAGEMENT ACCOUNTANY ICWAI is a statutory body under an act of parliament.. A professional course of becoming a CMA.. If you are interested to become a Cost Management Accountant…. then ICWAI will be one of the best course for you as per your interest. The Institute of Cost Accountants of India (ICAI) formerly known as ICWAI (Institute of Cost & Works Accountants of India) is a premier institution of India which offers education and develops the profession of Cost Accountancy in the country. At present ICWA course has been renamed to CMA which stands for Cost Management Accounting. This course provides you an in-depth knowledge to manage business within the available resources. As a cost accountant, you have to collect and analyze the financial information from all the areas of a company. This course comprises of three stages, i.e. CMA Foundation, CMA Intermediate and CMA Final. Skills Required for a Cost Accountant: You should be able to manage cost ac...