Cost and Works Accountancy (CWA)
The Cost and Management Accountant provides strategic management decision in terms of economic activities of an organization. There is only one professional body specialized in the field of Cost and Management Accountancy in India is the Institute of Cost and Works Accountants of India. The main aim of a cost accountant is to get specialized in navigating managerial decisions, stabilizing budgets and standards, assessing operational efficiency and the effectiveness of production and service management, and identifying accountability for profit variance.
Their main role is to frame business policy of a company and to give a prognosis for projects to be undertaken based on past and present financial performances.