Question

What pathways are available to you if you do not obtain a CA or CPA qualification?

Answer 1

Other Career Option for CA or CPA aspirants after BCOM:

Here is the list of some of the important courses after B.Com and their benefits:

1)

Company Secretary:

The Institute of Company Secretaries of India (ICSI) is a premier National Professional body established by Act of Parliament to develop and regulate the Profession of Company Secretaries. The company secretary is responsible for the efficient administration of a company, particularly with regards to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented. Career as a Company Secretary is not only prestigious and financially rewarding but also carries a high job satisfaction.

Career Benefits

• It is a professional course; hence it comes with a professional epithet.
• As a qualified company secretary, you can find good positions in the private sector, banks and financial institutions.
• Besides, private sector, the Govt. sector is also employing CS. Candidates recruited for different job profiles like Junior Secretarial Officer, Financial Adviser, Managing Director, Board of directors etc.
• You also stand the chance of getting promoted to the designation of Finance Advisor.

2)

Chartered Financial Analyst (CFA®):

CFA Program is a professional credential offered by CFA Institute to Investment and Financial professionals. After completing and passing the CFA program one will bridge academic theory, assess current industry practice, and learn ethical and professional standards to give a strong root of real-world portfolio management and modern investment analysis skills.

Career Benefits

• The CFA charter is one of the most recognized global professional qualifications in finance.
• If you’re looking for a qualification to enhance your career in finance or establish your finance credentials; CFA is highly recommended.
• There are many benefits after doing CFA, but the main reason anyone goes through the program is to get paid more.

3)

ICWA:

Institute of Cost and Works Accountants of India is the only statutory body of Government of India, which organizes training program for costs and work accountants. Cost and work accountants are responsible for budgeting, cost management, performance evaluation and asset management within a company or organization. They typically collaborate as part of an executive team to create a financial plan for the organization. They may work with corporate executives or heads of companies to strategically plan for a company.

Career Benefits

• After having Certification of manufacturing account as per Customs Act and Certification under Export & Import Policy you can also start your own business in Consultancy assignments.
• A degree in cost accounting equips you with the adequate knowledge to manage finance of the organization competently and ensure managerial decisions are well within the available resources.
• ICWA has wide scope, every manufacturing company needs them.            

4)

Financial Risk Management (FRM®):

FRM Certification is a globally recognized professional certification for banking and finance professionals by Global Association of Risk Professionals (GARP, USA). This practical qualification includes with the real issues facing organizations in the risk factors, financial services sector, banking and insurance. Financial Risk Manager Plans for potential risks which will help in the creation of a financial business strategy that seeks a constant upward trend.

Career Benefits

• Strong value addition to your skills, credentials and resume.
• Successful completion of this qualification plus five years of professional experience, enables you to apply for Specialist membership and use the internationally recognized membership designation SIRM (Swiss Institute of Risk Management).
• Financial risk managers in the USA can earn anywhere between USD $100,000 and USD $250,000. They normally receive various fringe benefits. The average salary of FRM in India is INR 900,000.

4)

Tax Return Preparer:

The Income Tax (IT) Department, invites the applicants for Tax Return Preparer for training the Graduates to become TRPs. The Tax Return Preparer shall prepare and furnish the return of income to the Assessing Officer or agency as may be directed by the Resource Centre.

Career Benefits

• Tax knowledge will enable you to minimize your income tax liability and potentially save thousands of dollars over your lifetime. You will also save on tax preparation fees!
• Experienced tax preparers may earn $25 per hour or more and self-employed tax professionals can earn more than $100 per hour. Average salary of a Tax Preparer is $12.20 per hour.
• Taking an income tax preparation course allows paid preparers and self-preparers to obtain a working knowledge of the Internal Revenue Code, ensuring that income tax returns are prepared as required by federal regulations.

5)

Bachelor of Laws (LLB):

The Bachelor of Laws is an undergraduate degree in law originating from England and is offered in most common law jurisdictions. If you want to pursue LLB after graduation, it will take a 3 years course and with 45% in graduation. You need to clear CLAT (Common Law Admission Test) test to get admission in LLB College. LLB is a dual value course as it gives two value of Commerce and Legislature.

Career Benefits

• Careers in law exist in the capacities of law officers, legal advisers, company secretaries, and solicitors
• Law jobs are very specialized and focused in the corporate segment in India
• Banking and non-banking financial institutes, insurance companies, large conglomerates, multinational corporations, appoint law professionals
• After completing three year LLB course, one can pursue their career as lawyers, legal consultants, oath commissioner or company secretary
• If one wishes to practice law, then LLB turns out to be a good choice
• If anyone wants to work in the corporate sector, Corporate Law is the best option for them

6)

ACCA:

Association of Chartered Certified Accountant (ACCA) is the world’s leading and fastest-growing international accountancy organization. The ACCA qualification helps develop successful careers in the fields of accounting, banking, management and consulting, and is a major advantage in competing for senior roles. ACCA professionals get preferential immigration status to Australia, Canada, UK, New Zealand, Ireland etc.

Career Benefits

• ACCA has a wide network of 92 offices and more than 8,500+ Approved Employers worldwide, who provide high standards of employee learning and development.
• Better employment prospect because of having shown an ability in all areas of business.
• Gaining ACCA qualification is an evidence that the holder possesses skills and knowledge which are in high demand by employers in industry, banking, auditing, consulting as well as other professions like taxation and law.

7)

MBA in Finance:

An MBA in Finance is one of the top in-demand courses when it comes to a management degree. MBA in Finance boasts of almost 26% share in MBA job opportunities globally. With doors to International Investment in India widening, there is expected to be a propential growth in demand for MBAs in different specialized areas.

MBA Graduates in Finance usually find employment in organizations which require to maintain a balance of Capital. Some of the popular working areas for Finance Graduates in an organization are:

• Asset Management
• Corporate Finance and Corporate Banking
• Credit Risk Management
• Derivative Structuring
• Hedge Fund Management
• Private Equity
• Treasury