ICWAI signs pact with IGNOU for Commerce degrees
The Institute of Cost and Works Accountants of India (ICWAI) has signed a Memorandum of Understanding (MoU) with the Indira Gandhi National Open University (IGNOU) to offer exclusive B.Com. and M.Com. programmes.
Through the MoU, B.Com. is offered with specialisation in Financial and Cost Accounting.
The programme comprises four courses of Bachelor Degree Programme of IGNOU in Part A, four courses of Foundation Course of ICWAI in Part B and six courses of Intermediate Course of ICWAI in Part C.
Eligibility for admission is Plus-Two and registration in ICWAI Foundation Course. As per the MoU, the duration of the programme will be minimum three years and maximum six years with a provision for readmission after the completion of the maximum duration. Students who have already passed ICWAI Intermediate Course are also eligible for admission to the IGNOU course. These candidates are required to complete the programme in a minimum period of one year and a maximum of four years.
Likewise students taking up Part A after passing the Foundation Course of ICWAI can complete the programme within a minimum period of two years.
The 32 credits (four papers) in ICWAI Foundation Course and 48 credits in Intermediate Course (six papers) that candidates obtain are transferred to the B.Com programme. The students are required to obtain 24 credits by completing the four papers of Part A offered by IGNOU, to obtain their bachelor degree.
Likewise, the M.Com programme in Management Accounting and Financial Strategies is meant for candidates with graduation in any discipline from a recognised university along with a pass in ICWAI Intermediate course. Candidates can pursue M.Com programme and ICWAI Final course simultaneously and complete the programme in a minimum period of two years and a maximum of five years. Candidates who have already passed the ICWAI Final course can also obtain M.Com by clearing the four papers of IGNOU in Part A within one year. The four papers are part of the existing M.Com programme of IGNOU.
Evaluation of Part A in these exclusive B.Com. and M.Com. programmes is undertaken by IGNOU. The evaluation system for Part B and Part C in B.Com. and Part B in M.Com. is the same as for ICWAI Foundation / Intermediate / Final course. According to the chairman of the Tiruchi Chapter of ICWAI, M. Sheik Mohamed, these programmes are aimed at students who aim to complete ICWAI, but also feel the necessity for formal degrees.
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