Indian Cost Accounts Service

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Indian Cost Accounts Service (ICoAS)
Emblem of India (navy blue).svg
Service Overview
AbbreviationICoAS
Constituted1978
CountryIndia
Training Ground National Institute of Financial Management, Faridabad
Controlling Ministry Ministry of Finance, Government of India
Legal Personality Governmental , Civil Service
NatureAccounting and Finance
Selection Union Public Service Commission (UPSC)
Service Chief
Chief Adviser CostShri U.K. Shukla, ICoAS
Head of All India Civil Services
Cabinet Secretary Shri Rajiv Gauba, IAS

Indian Cost Accounts Service (ICoAS) is one of the Civil Services of India (Group A, Gazetted) under the administrative control of the Ministry of Finance, Department of Expenditure and is headed by the Chief Adviser Cost. [1] ICoAS is one of the six organised finance & accounting services, the others being Indian Audit and Accounts Service (IA&AS), Indian Civil Accounts Service (ICAS), Indian Defence Accounts Service (IDAS), Indian Post & Telecommunication Accounts and Finance Service, (IP&TAFS) and Indian Railway Accounts Service (IRAS). ICoAS is exclusively manned by professionally qualified Chartered Accountants (CAs) or Cost & Management Accountants (CMAs). In view of a number of Ministries/Departments seeking finance experts, ICoAS was organized as a Group A Service on the pattern of the “Participating Offices Scheme” with the encadrement of posts in the Service by different Ministries/Departments of the Government of India in 1978. ICoAS Officers are involved in rendering advice to the Central Government Ministries/Departments/Organizations on complex price & cost related issues and financial matters which covers a wide spectrum of areas. [2]

Contents

History

In 1941, verification of cost of production and determination of fair prices for Government purchases (including defence procurements) was felt necessary. In 1961, Central Cost Accountants Pool was set up under Ministry of Finance by grouping Cost Accountants working in various Ministries/Departments of Government of India. Thereafter, in 1978, Indian Cost Accounts Service was constituted as a Group A Civil Service under the Ministry of Finance and first batch of officers got recruited in 1983 through Union Public Service Commission (UPSC). [3]

Recruitment and training

ICoAS Officers are recruited through the Union Public Service Commission (UPSC). Officers are imparted training at both induction level and at mid-career level. At the foundation stage, ICoAS Officers are trained at the National Institute of Financial Management, Faridabad, in the core areas of finance, accounts and public financial management along with officers of other accounts and finance services recruited through the Civil Services Examination. [4]

See also

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References

  1. https://doe.gov.in/office
  2. "Overview". cac.gov.in.
  3. https://cac.gov.in/PDF%20Material/Brochure.pdf
  4. "About (PTC) | National Institute of Financial Management | Government of India". www.ajnifm.ac.in.