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Hi,
With both the professional degree leading to successful professional career, it is obvious that students faces a dilemma to make a choice from either, CA or ICWA.
However, both cater to different aspect of accounting and a comparison of CA/ ICWAI, would clear most of the doubts that students have on which one to choose.
1. Scope of study
CA
In depth knowledge on every aspects of accounting, auditing and taxation.
ICWA
Understanding the role and aspects of cost and financial management to ensure a fine balance between expenditures and available resources.
2. Area of specialization
CA
CA's are involved in core accounting work, looking into day-to-day business.
ICWA
Cost accountants are involved in the costing part of financial transactions.
3. Work
CA
analyzing risk and design of efficient financial system
taxation and auditing work
finalizing and certifying the annual reports and balance sheets
ICWA
assessing the feasibility of projects vis-à-vis available funds
designing cost control and management system
suggesting effective cost cutting measures
4. Specific skills
CA
logical and methodical approach in work
attention to details
patience and confidence to handle responsibility
ICWA
analytical mind to interpret facts and figures
logical approach in work
attention to detail
ability to communicate expressly and clearly
5. Which to choose – CA/ICWA?
CA
If you are extremely good at general accounting and number crunching, and wish to delve more into it, go for CA.
ICWA
If you are interested to be a specialist in cost management rather than general accounting, cost accounting (ICWA course) would suit you.
Also refer-
https://www.shiksha.com/getArticleDetail/2008/Chartered-Accountancy-As-A-Career
https://www.shiksha.com/career-in-icwai-article-4663-1
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