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Careers in Accountancy and Law

Careers after Plus Two

Cost accountancy


In the highly competitive scenario in manufacturing industries, efficiency is the keyword. To attain efficiency, there has to be a multi-pronged approach, an important element of which is harnessing of wealth-generating resources and waging a war against waste. The primary objective is cost reduction.

A significant role in this effort is played by the cost accountant. The services of competent cost accountants are required for analysing each one of the different items that add up to the cost of a product and for identifying ways and means of bringing down expenses.

The realm of the cost accountant spreads to regions beyond costing and maintaining accounts in industrial or business organisations. Owing to his role in the overall management and financial regimen of an industry, he is sometimes referred to as cost and management accountant. The success or failure of business decisions depends to a large extent on the quality of the information made available to the management. This emphasises the value of right cost prescription from the cost and management accountant.

On the strength of professional experience, cost accountants can reach the topmost rungs of the corporate hierarchy. They have opportunities in the public as well as private sectors.

Experienced cost accountants can opt for private practice.

The Institute of Cost and Works Accountants of India ( regulates the profession and imparts training to students in the distance mode.

The structure of the training programme comprises three levels – Foundation, Intermediate and Final. The subjects of study are as follows.



Organisation and management fundamentals; accounting; economics and business fundamentals; and business mathematics and statistics



Financial accounting; commercial and industrial laws and auditing; applied direct taxes; cost and management accounting; operation management and information systems; and applied indirect taxes



Capital market analysis and corporate laws; financial management and international finance;

management accounting – strategic management; indirect and direct – tax Management; management accounting – enterprise performance management; advanced financial accounting and reporting; cost audit and operational audit; and business valuation management.

Candidates can join the Foundation course after passing the higher secondary examination. Those who are waiting for Plus Two results will be permitted to register provisionally.

The next step after the Foundation is the Intermediate. Admission to the Intermediate examination will be granted after obtaining the Coaching Completion Certificate. For this certificate, the students should complete the following items of training.

•Group discussion

The students are required to appear in group discussion in each stage. The topics would be as per the choice of the students but within the curriculum of that particular stage.

•Business communication seminars – two

•Hands-on computer training – 50 hours

Those who possess recognised computer qualifications would be exempted from this part.

After passing the Intermediate examination, the candidates reach the Final. Appearance in the Final examination is permitted only after obtaining the necessary coaching completion certificate. For this certificate, the students should complete the following items of training.


Of 5,000 words, under the guidance of a person with the stipulated qualification

•Hands-on computer training – 100 hours

Those who possess recognised computer qualifications would be exempted from this part.

•Modular training for 15 working days, arranged by the institute

•Audit or industrial training for 12 Months



The very foundation of our democratic system is the rule of law. The function of defining and maintaining the rights and responsibilities of individuals and institutions, with fairness and justice falls in the domain of law. There are numerous avenues for those who are qualified in law. They can work as lawyers, solicitors, judges, notaries, legal officers in government, legal advisers, legal editors, and commissioned officers in the Judge Advocate General’s Department of the army.

The legal profession has specialists who deal with specific laws – civil, criminal, taxation, company, constitutional, labour and so on.

LLB, the first degree, can be acquired after Plus Two by undergoing a five-year course in a law college. Graduates in any discipline can however finish the LLB programme in three years. After LLB, one can go for LLM in subjects such as international law, constitutional law, mercantile law, criminal law, administrative law, business law, and human rights law.

In order to ensure excellence in legal education, a few States have set up Law Universities in places such as Bangalore, Kolkata, Hyderabad, Jodhpur, Bhopal, Gandhinagar, Raipur, Chennai, Patna, Lucknow, Patiala, and Kochi. Some of these universities select candidates for the first degree based on the Common Law Admission Test (CLAT). Some of these universities conduct not only the 5-year BA, LLB(Honours) and 2-year LLM programmes, but M.Phil., Ph.D., and LLD programmes.

Despite the diverse merits of the legal profession, one disadvantage commonly pointed out is that there is a long gestation period for the evolution of a lawyer who can practise independently. But those who work with persistence and dedication do scale great heights.

The legal fraternity has a vital role to play in ensuring equity and fairness in society. It is a matter of pride and prestige to be part of the legal system.

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