The layman’s perception of finance as a back office record keeping job is undoubtedly far removed from reality. With the wave of liberalization sweeping across the country, jobs in finance have turned far more challenging and rewarding. If you want to grab an exciting career opportunity in this domain then the following courses will help you in your endeavor.
The sector that received maximum battering during the global meltdown is now making a comeback. Same is reflected in the placement figures of the leading management schools. Major finance firms like Morgan Stanley, HSBC, Barcalys, Bank of America and other are looking for qualified talents for handling major responsibilities at their firms. A career in finances is extremely lucrative and therefore the competition to break in the industry is also tough. Being armed with appropriate professional qualifications is the first step towards a successful career. While a degree in commerce or management does no harm to your job prospects, the real edge is provided by professional certifications awarded by industry leading agencies like ICAI. Here is a list of the top courses to pursue for ensuring a sure shot chance at getting a job in the finance and accounts industry.
Chartered Accountancy: The first choice of many owing to certain conspicuous reasons that include prestige, money and career growth, Chartered Accountancy is the most popular course and career path for anyone looking to make a high flying career in Finance. Despite its popularity, India Inc is still short on qualified chartered accountants, which simply means that not everyone who enrolls for the course is guaranteed of a successful completion. The credit for the same should be given to the arduous nature of the course, which requires backbreaking mental exercise and hard work. Spanning across a considerable time period of 5-6 years, the CA course tests the limits of a person’s numerical, mental and reasoning abilities.
The course itself is conducted by ICAI, the regulatory authority for all Chartered Accountants in the country. The first step is a common proficiency course that needs to be qualified for gaining eligibility for next high level training programs. The agency conducts a Common Proficiency Test for the same, which can be taken by anyone who has passed senior secondary examination (12th). Students who pass CPT have the option to enroll for either Accounting Technician Course or an Integrated Professional Competence Course. To take any of these exams the candidate must finish nine months of study course, undergo 35 hours orientation program and 100 hours of information technology training. Those who make through are required to register as articled assistants for a period of three years. The final frontier is the CA final course examination, for which a student can apply while practicing as an articled assistant. Every country has its own accountancy association that regulated the quality and quantity of CAs in that particular country. The profession itself is highly rewarding and satisfying.
Cost Accounting: The current scenario is optimum for Cost Accountants as they are required everywhere, right from the banking & finance sector to developmental agencies, government sector, training & research sector and last but not the least, the corporate sector. Cost accountancy promotes study of scientific methods for securing maximum efficiency in commercial, industrial and other spheres. Cost Accountants find employment in the capacity of cost auditors, advisors and consultants. A cost accountant can also practice independently after obtaining practice certificate from the Institute of Cost Accountants of India. The minimum eligibility for pursuing a course in cost accounting is passing percentage in Class 12th or graduation. The exams are held two times every year, from 11th to 18th June and from 10th to 17th December.
Company Secretary: The Institute of Company Secretaries of India, conducts the company secretary course in India. Company Secretary is an important link between the company and its shareholders. The topsy-turvy nature of Indian corporate, where every company seems to be at the verge of an upheaval of sorts necessitates the presence of a credible individual who could efficiently take care of corporate governance and act as a bridge connecting the board of directors with the shareholders. The position of company secretary is increasingly gaining critical importance for smooth functioning of a corporate entity. The course itself is divided in three stages, namely, the foundation stage, the intermediate stage and the final stage. Foundation course is open for those who have cleared their 12th exams. The course is 8 months in duration and consists of subjects such as English and Business Communication, Financial Accounting, Information Systems and Quantitative Techniques. Clearing the foundation course opens up gate for the Intermediate course that covers core concepts of accounting and corporate laws. The final course imparts further training on a plethora of advanced subjects like Secretarial Management and System Audit, Financial, Treasury and Forex Management and Human Resource Management and Industrial Relations.
Chartered Financial Analyst: The list wouldn’t have been complete without the most revered and recognized investment credential in the world, Chartered Financial Analyst. Although not strictly a finance course, the CFA program prepares candidates to work in the investment industry which overlaps in majority with the world of finance. To become a certified CFA, you must have four years of work experience in investment, along with membership of the CFA Institute. This is a global certification, recognized all over the world and is in much demand across a spectrum of big investment firms and finance organizations.
Author Bio: – Saurabh Tyagi is an expert writer having interest in diverse topics like education, technology, career and Web 2.0. He is a social media enthusiast and a self-confessed gadget-freak, who loves to follow the latest happenings in the tech world. View more here Best Institutes for CA in India