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ICWAI | CMA Intermediate course

ICWAI | CMA Intermediate course

ICWAI | CMA Intermediate course is now available for


The CWA ICWA course at the Intermediate level (ICWAI: Intermediate Examination) consists of theoretical examinations as well as comulsory practical trainings. The theoretical examinations consists of 12 subjects to be studied arranged into 2 stages of 4 papers of 100 marks each.

To pass a student has to obtain a minimum of 40% in each paper and an aggregate of 50% in all the papers of a stage together, failing which the student has to reappear in all the papers again. Even if the student appears in both the stages together each stage will be considered separately for assessing the result.

A student has to get through these and complete the compulsory practical trainings to be eligible to go for the next level i.e. FINAL.




After Graduation/(10 + 2 + 3)



[8 subjects arranged into two
stages of 4 papers of 100 marks each.]

Practical Training

1) Computer Course
2) Group Discussion
3) Business Communication Seminar



Each paper 3 hours-100 Marks

  • CWA: Inter – Stage I

    • Paper 5: Cost and Management Accountancy (CMA) [100 marks]
    • Paper 6: Information Systems and Technology (IST) [100 marks]
    • Paper 7: Business Laws and Communication Skill (BLC) [100 marks]
      • Section I: Business Laws (70 Marks)
      • Section II: Communication Skill (30 Marks)
    • Paper 8: Business Taxation (BT) [100 marks]
      • Section I: Direct Tax (50 Marks)
      • Section II: Indirect Tax (50 Marks)
  • CWA ICWA: Inter – Stage II

    • Paper 9: Management Accounting – Performance Management [100 marks]
    • Paper 10: Advanced Financial Accounting [100 marks]
    • Paper 11: Auditing [100 marks]
    • Paper 12: Quantitative Methods [100 marks]
      • Mathematical Techniques (40 Marks)
      • Statistical Techniques (30 Marks)
      • Economic Techniques (30 Marks)

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