Cost and works accountancy and law are among the higher study options 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 ( www.myicwai.com) 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. Foundation
Organisation and management fundamentals; accounting; economics and business fundamentals; and business mathematics and statisticsIntermediate
Financial accounting; commercial and industrial laws and auditing; applied direct taxes; cost and management accounting; operation management and information systems; and applied indirect taxesFinal
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.
•Dissertation
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