Chennai: Cost accountancy seems to have retained the sheen that engineering and other professional courses have lost over a period.
Post recession as service and manufacturing companies look to cutting costs, cost accountants are much sought after, say members of Southern India Regional Council of ICAI (Institute of Cost Accountants of India).
P. Raju Iyer, chairman at the ICAI, says, “The profession has maintained its ground and in the present scenario, the demand will only grow by leaps and bounds.” Campus placements seem to have created a buzz among the general student population, especially with paychecks that start at Rs 5 lakh per annum. Iyer says, “Many multinational companies, especially from the service and manufacturing sectors, are coming forward to recruit students.”
Ensuring that the institute produces quality professionals, Iyer speaks of a slew of measures incorporated into the academia. “At the institute, workshops and seminars by eminent personalities are conducted regularly. Smart classrooms are also used for lectures.”
Subhash K, a student from Tuticorin who joined the institute a month ago, says, “I did my B.Com and cost accountancy seemed to be a secure profession, therefore I enrolled.” Another student at the institute, R Satish, says, “It is one of the best professional courses. Engineering is at its saturation point. We are given soft skill training and that prepares us well.”
Almost 10,000 students enrol in the intermediary and foundation courses in Chennai alone each year. In a recent initiative, the institute has also joined hands with corporation schools to provide cost accounting classes for students of classes 11 and 12. Iyer adds that the response has been good.
Students who pass their degree are enrolled and the two year course will cost them somewhere around Rs 19,000 which includes books for the course too.