It is a competitive world out there, and jobs are hard to come by, particularly now, when industries, across the spectrum, have altered preferences to what they desire in the new workforce they employ. Theoretical knowledge alone is no longer desirable. Companies are keen to engage candidates who possess skills and understanding of the industry.
Professional courses have gained importance over regular undergrad courses since they are designed keeping in mind the requirement of industries. Students today prefer to enroll in courses that boost their skills and knowledge of the industry and prepare them to fit in.
Accounting is one such field, where candidates can choose to study an undergraduate course or opt for a professional course. We’ll give you an insight into both, so you can make an informed choice, on which is better for you.
Bachelor of Commerce (B.Com)
Bachelor of Commerce (B.Com) is a three-year undergraduate degree programme, offered in various streams, but the most popular among them is B.Com in Accounting and Finance. The course covers details of accounting and management. On successful completion of the course, candidates can find employment as accountants, investment analysts, bookkeepers, auditors, money managers and operations managers, etc.
Chartered Accountant (CA)
Chartered Accountancy (CA) is a highly-respectable profession and a well-paying one at that. However, becoming a CA takes a lot of hard work and determination. The professional course constitutes three levels – foundation, intermediate, and finals, besides articles, which is an internship.
Candidates who have completed class XII must qualify for the foundation level and then proceed to complete the other levels. In contrast, those with an undergraduate degree, with 55% aggregate marks can directly register for the intermediate level. Upon completion of the course, candidates can start their own chartered accountancy firm or work at one.
Association of Chartered Certified Accountants (ACCA)
The Association of Chartered Certified Accountants (ACCA) is a UK-based, international professional accounting body that offers the Chartered Certified Account program. It is a professional accounting course and is valid internationally, and can be pursued at institutions across the globe.
Prepare for the ACCA course in Kerala and improve your chance of success. The course is divided into 13 units, split into three levels – knowledge, skill, and professionalism. The length of the course depends on the educational qualification of the candidate. Candidates who have qualified SSC (class XII) would spend three years to complete the course, while candidates pursuing an undergraduate degree in commerce can do the course in one year.
The course covers diverse subjects including Business Accounting, Audit, and Assurance, Corporate and Business Law, Management Accounting, Taxation, Financial Accounting and Management, and Performance Management and Analysis.
US Certified Public Accounting (CPA)
The CPA certification is yet another professional course in accounting, with a US certification. The popular course is offered by the American Institute of Certified Public Accountant (AICPA). In some respects, it is equivalent to the Chartered Account course offered in India but is more suited for the international industry.
The CPA is relatively more straightforward, in comparison to the CA course, which makes it a better choice for many. Moreover, it has global recognition and favored by companies with international dealings.
It is quite an extensive course covering international standards, laws, and principles, apart from taxation, financial accounting and reporting, planning and management of finances, strategizing and auditing and evaluation, etc.
CPA qualified individuals can be assured of excellent employment opportunities in varied roles and positions, from consulting managers to audit and tax managers. They can also seek employment in specialized fields of accounting, such as personal financial planning, financial forensics, and business valuation, etc. To be eligible for this course, candidates should have completed SSC (class XII).
Certified Management Accountant (CMA USA)
Enroll in the CMA USA course in Kerala, as it is one of the most recognized and in-demand professional certification courses in accounting, not just within the country, but overseas as well. The course is offered by the Institute of Management Accounts (IMA), a US-based organization.
The IMA operates worldwide, across 140 nations, and is the only establishment offering the course. The CMA course is well-structured and takes into account the various advancements in technology. Candidates learn to use the latest technologies for the management of accounting processes, for example, eXtensible Business Reporting Language (XBRL), which is an international standard for exchanging business information.
The professional course comprises various facets of management accounting, including cost management and advanced accounting, forecasting, financial reporting, budgeting, decision making and analysis, technology and analysis and risk management, and more. Class XII (SSC) is the minimum educational eligibility required to enroll in this course.
Study your options before you decide on joining a professional accounting course. These job-oriented professional courses are designed to give candidates a head start, in the ‘accounting world’.