CHENNAI: The Institute of Cost and Works Accountants of India (ICWAI) has set in motion the process of putting in place a new curriculum for the cost and management accountancy course by April.
Seeking to provide exposure to aspiring professionals about the global practices in the field, the change to the curriculum would be in tune with the educational guidelines laid down by the International Federation of Accountants, according to ICWAI leaders.
Apart from an internal taskforce, which was scheduled to hold its first meeting shortly, the institute was in the process of forming an external taskforce comprising leaders of industry associations, such as FICCI and CII, for the purpose, said A.S. Durga Prasad and M. Gopalakrishnan, ICWAI central council members. They were speaking at a press conference convened here on Wednesday to give details about the forthcoming two-day southern regional cost convention.
Emphasis on IT
Expressing confidence that the changes to the curriculum would be finalised and approved for introduction by April, Mr. Prasad said the new syllabus would lay greater emphasis on information technology. The proposal was to have 50 to 100 hours of IT training. The ICWAI, he added, launched an e-learning programme last year, to which nearly 100 students have enrolled. Apart from providing the courses online, the institute sought to web cast select seminars.
Listing the industry-oriented activities of the institute, Mr. Gopalakrishnan said it had recently prepared a draft on cost accounting and management in the education sector. It was also working towards the formulation of cost management and accounting system for the BPO, software and healthcare sectors.
Earlier, R. Narayanan, chairman, Southern India Regional Council of ICWAI, said Mallika Srinivasan, director of TAFE Limited, would be inaugurating the cost convention on Friday. The list of speakers at the conference, with 'convergence for business excellence,' as its theme, includes Bala V. Balachandran of the Kellogg School of Management. The convention, he added, assumed significance in the backdrop of the emergence of cost management accountancy professionals as value creators for business, by focussing on cost management and performance improvement.