The Institute of Cost Accountants of India (ICAI) is a premier professional body of Management Accountants in the Country established on 28th May, 1959 under the Cost Accountants Act, 1959.Institute of Cost and works accountants of India is the ICWAI full form.The course offered by the ICAI is known as "CWA Course" later name changed into CMA.There are three different stages in the icwai course. The stages are CMA Foundation, intermediate and final.After completion of the 10 "&" 12th class candidate can apply for foundation.ICWAI has changed its name to ICAI and now CMA . Full form of CMA is Cost Management Accounting.

"The Institute of Cost Accountants of India would be the preferred source of resources and professionals for the financial leadership of enterprises globally."

"The Cost and Management Accountant professionals would ethically drive enterprises globally by creating value to stakeholders in the socio-economic context through competencies drawn from the integration of strategy, management and accounting."