Cost and Works Accountant
Records production costs and develops budgets and cost-control initiatives to increase profits.
Overview
A Cost Accountant records the costs of production involved in manufacturing goods and delivering services of a firm. They also develop budgets and cost-control initiatives, which can increase profits for a business.
Where they work
- Banks
- Chartered Accountant Firms
- Non-Banking Financial Units
- Developmental Agencies
- Education, Training and Research sector
Work environment
It is a desk job. You are likely to work 5 to 6 days a week and 8 to 9 hours every day. This may vary from organisation to organisation. Entrepreneurship: you can start your own business.
Opportunities for work exist for differently abled in this field.
Skills and interests
This career might suit you if…
- You are detail oriented
- You like to work with numbers
- You like to have clear instructions to follow
Eligibility and education roadmap
Please check the duration of the course during enrolment.
Route 1
- 1Complete 10+2 in Commerce or Science stream
- 2Complete Institute of Cost and Management Accountants of India (ICMAI) foundation course, followed by ICMAI intermediate and ICMAI final courses
Alternative route 2
- 1Pursue ICMAI foundation course along with a Bachelor's degree in Accountancy/Accounting or any related subject. Follow this up with ICMAI intermediate and ICMAI final courses
Alternative route 3
- 1Complete Bachelor's degree in Accountancy/Accounting or any related subject, and then follow it up with ICMAI intermediate and final courses
Alternative route 4
- 1Complete Bachelor's degree in Accountancy or Accounting, complete ICMAI intermediate course. Then do a Master's in Business Administration/Economics/Finance/Commerce/Finance and Accounting or related field and follow it up with the ICMAI final course
Forms, exams and applications
ICMAI (Institute of Cost and Management Accountants of India) foundation, intermediate and final examinations. Check the official ICMAI notification for current eligibility and dates.
Exam names above are as printed in the source card. Application windows, eligibility and syllabi change — always check the official notification for current dates.
Where to apply
The course is offered by the Department of Finance/Banking/Business Analysis.
Government institutes
- Institute of Cost Accountants of India, New Delhi
- Indian Institute of Management, Bengaluru, Karnataka
- Indian Institute of Management, Kolkata, West Bengal
- Indian Institute of Management, Kozhikode, Kerala
- Indian Institute of Management, Indore, Madhya Pradesh
- Indian Institute of Management, Lucknow, Uttar Pradesh
- Faculty of Management Studies, University of Delhi, New Delhi
- Department of Management Studies, Indian Institute of Technology, New Delhi
Private institutes
Please check if the institute is affiliated and accredited before applying.
- Xavier School of Management, Jamshedpur, Jharkhand
- Management Development Institute (MDI), Gurgaon, Haryana
- SP Jain Institute of Management & Research, Mumbai, Maharashtra
- T A Pai Management Institute, Manipal, Karnataka
- Great Lakes Institute of Management, Chennai, Tamil Nadu
- IBS Business School, Hyderabad, Telangana
- Goa Institute of Management, Sattari, Goa
- Institute of Management Technology, Ghaziabad, Uttar Pradesh
Distance learning
Indira Gandhi National Open University (IGNOU)
These institute lists are indicative examples from the source card, not a ranked or complete directory. Always verify accreditation on the institute's official website.
Career outcomes
Growth path
- 1Clerk – Cost Accountant
- 2Junior Cost Accountant
- 3Cost Accountant
- 4Senior Cost Accountant
- 5Cost Accounts Officer
- 6Chief Cost Accountant
Expected income
₹8,000 – ₹35,000 per month
INR 8,000 – 12,000 per month for new entrants and INR 20,000 – 35,000 per month for candidates with experience. The figures are indicative and subject to change.
SourceRelated careers to explore
Chartered Accountant
Qualified to monitor a company's finances across taxation, accounting, applied finance and management accounting.
Financial Accountant
Runs an organisation's accounting activities, preparing financial statements and conducting audits.
Student action plan
What you can do this month
- Read this whole roadmap and note any subjects, exams or institutes you don't recognise yet.
- Talk to a teacher or school counsellor about how your current subjects connect to Commerce, Science.
- Look for a school club, competition or online course related to analysing.
- Shortlist 2–3 institutes from the list above and check their official website for current admission details.
- Save this career and compare it with 1–2 others you're considering.
Example from the field
Subhadra Dutta Gupta — A Cost Accountant and a member of The Institute of Cost Accountant of India since 1999. She is currently practising with Subhadra Dutta & Associates in Kolkata. She has over 23 years of experience and specialises in Income Tax and Business Law.
SourceThis profile is shared for training/educational purposes only, as printed in the source card.
Sources and update notice
- Career card source: Exploring Career Paths with Career Cards, Volume 1, printed page 211 (NCERT / UNICEF India / PSSCIVE Bhopal, First Edition, April 2025).
- Income source: https://bit.ly/3HTy9hG
- Last reviewed on this site: 2026-08-21
Eligibility, fees, exam patterns and admissions change often. Always verify current details on official institute, exam-body or government websites before making decisions.