What is the Best Course after completing 12th? CA|CS (ACS)|CMA (ICWA)|US CMA|ACCA?
What is the Best Course after completing 12th? – Indian professional Courses:
CA, CS or CMA:
When it comes to choosing a professional path, today’s students have a wide range of options.
The fields of Chartered Accountancy (CA), Company Secretary (CS), and Cost and Management Accounting have all seen significant development in recent years (CMA). https://www.araeducation.in/
What is the Best Course after completing 12th? – Chartered Accountant (CA)
In India, chartered accountants are members of the Institute of Chartered Accountants of India (ICAI). The process of becoming a member is lengthy and demanding.
To go through, interested students must pass a three-tier examination: CA foundation, CA intermediate, and CA final. Aside from that, you’ll need three years of practical experience to earn the CA prefix in front of your name.
A CA’s core job responsibilities include financial audits and counseling businesses on financial concerns. Only a CA officially accepted by ICAI can become a company’s statutory auditor, according to the Companies Act of 2013.
Why to choose CA?
- The ICAI’s degree is recognized by several of its member nations. However, passing the Association of Chartered Certified Accountants’ tests is a preferable choice.
- Because ACCA is an international accounting organization, its certification is recognized all around the world.
- Because a person who passes the CA exams has a thorough understanding of each and every obligatory subject, he has an advantage in climbing up the management ladder quickly.
- Not to mention, Chartered Accountants in India not only get a good reputation in society, but they also earn a good salary.
- The cost of studying for CA is less than half of that.
Career after CA:
There are several possibilities. Whether it be a corporate firm or a government enterprise, a bank or a university, CA is required everywhere. The choice is yours.
A Chartered Accountant can pursue career in following firms:
- Internal Auditing
- Tax Auditing
- Forensic Auditing
- Career in Accounting and Finance
- Taxation Advisory (Both Direct and Indirect)
- Statutory Audit under applicable statutes
- Managing Treasury function
- Others like Bookkeeping, Finance Controller, Preparation of financials of companies, etc.
What is the Best Course after completing 12th? – Company Secretary (CS)
The Institute of Company Secretaries of India (ICSI), the statutory authority responsible for regulating and maintaining the quality of company secretaries in India, requires CS candidates to complete three tests.
The tests are divided into three stages: CS Foundation, CS Executive, and CS Professional. A CS’s role is to guarantee that all of a company’s workers operate within the bounds of legal and statutory regulations.
A CS’s additional responsibilities include keeping track of corporate records and maintaining contact with the organization’s higher management.
Why to Choose CS (ACS)?
A CS course comes with a number of privileges. Here are a few examples:
• First and foremost, there is no upper age limit for applying to the CS exams. Anyone at any age or stage of life may begin studying CS, making it a viable professional option.
• The income is good, and the chances of acquiring a job are significantly greater than with other degrees.
• You can complete the course alongside your graduation and earn a professional degree as soon as you pass all of the ICSI tests.https://cseetcoaching.com/cs-executive-coaching-classes-in-coimbatore/
Career after CS:
- Member of Board of Directors
- Company Registrar
- Chief Administrative Officer
- Tax Management Officer
- Corporate Planner
- Corporate Policymaker
- Legal Advisor
- Principal Secretary, etc.
What is the Best Course after completing 12th? – Cost and Management Accountant (CMA)
The Cost and Management Accountancy programme is a newer course of study. If you want to become a CMA, you’ll need to pass the CMA Foundation, Intermediate, and Final exams. The Institute of Cost Accountants of India has created these tests (ICMAI).
To take the CMA Final Exams, you must have completed 6 months of practical training. This practical training, also known as an Articleship, is an important aspect of the CMA programme.
Those seeking an ICMAI degree must complete a three-year training programme. If you don’t want to practice, you can skip it halfway through. https://www.araeducation.in/cma-icwa-coaching-classes
CMAs work with a company’s or other organization’s cost management, cost reduction and cost audit. CMAs, to put it another way, may work for any firm.
Why to Choose CMA (ICWA)?
- CMA, like CA and CS, is a well-paid profession;
- Moreover, it is simpler to get work outside the nation while studying for CMA. CMA USA qualifies in the same way.
Career after CMA (ICWA):
A CMA can work as a financial analyst, finance director, or certified management accountant before progressing up the corporate ladder to become a director or chief executive officer. Some of the Career options of CMA (ICWA) are listed below:
- Finance Director
- Managing Director
- Associate Professor
- Cost Controller
- Chief Auditor
- Cost Accountant
- Chief Accountant
- Chief Internal Auditor
- Financial Consultant
- Managing Director
- Financial Controller
What is the Best Course after completing 12th? – CA, CS or CMA
Both scientific and commerce stream students can study CS, CA, or CMA. The state of California is all about businesses. A CA is responsible for all aspects of a company’s finances, audits, and compliance with the Companies Act.
A CA, for example, will examine whether a newly established firm held its first board meeting on schedule. The Companies Act requires a lot of compliance, and this is one of them. CA is for you if you’re interested in a job with such a profile.
Students who love theory and have a passion for law may choose CS. However, because it entails the application of Indian laws, it is confined to India. However, if you are studying for the CA or CMA, India offers several chances.
To secure a job in a foreign nation, you must pass the ACCA, CPA USA, or CMA USA exams.
It’s difficult to advise a kid on the finest job path once he completes his 12th grade diploma. Situations vary. Some kids are capable of handling mathematics, while others excel at economics.
It is entirely the student’s discretion to examine his talents, strengths, and weaknesses in order to determine which course best meet his/her interests and requirements.
As a result, it is up to the student to consider the benefits and drawbacks of each course and make an informed decision.
Key Differences in CA, CS and CMA:
|Conducting Body||Institute of Chartered Accountants of India (ICAI) is the main conducting body||Institute of Chartered Accountants of India (ICAI)||Institute of Cost and Work Accountants of India (ICWAI)|
|Who should opt for it?||Candidates with a strong mathematical and logical reasoning background||Candidates with an inclination towards theory and legal||Candidates with an standard concepts, procedures, and practices in the related field.|
|Stages||Foundation, Intermediate, and Final Course. |
Note: One can also follow the direct entry route
|Foundation, Executive, and Professional Programme|
Note: The number of levels can vary based on the
|Foundation, Intermediate, and Final Course. |
Note: One can also follow the direct entry route
|Course Duration||5 – 7 years||3 – 3.5 years||3.5 – 4 years|
|Entrance Exam||Chartered Accountant Foundation||Company Secretary Executive Entrance Test||Cost and Management Accountant Foundation|
|Eligibility Criteria||Candidates who have qualified their 12th exams with a minimum aggregate of 50% marks can register for the CA Foundation 2021 exam.|
Candidates who have an aggregate of 55% marks in graduation or post-graduation degree in Commerce stream or its equivalent from any recognized university/open university are exempted from CA Foundation 2021.
|For the Foundation Programme, (10+2 pass or equivalent from any stream)|
Executive Programme (Graduation from any field apart from fine arts)
Professional Programme (Executive Programme)
|In order to pursue the ICWA intermediate course, students are required to successfully complete their 10+2 from a recognized board from India. Students are required to complete either the foundation course or graduation from any field other than fine arts from a recognized university in India.|
|Average Salary||Rs. 7 – 8 Lakhs||Rs. 5 – 6 Lakhs||Rs. 5 – 6 Lakhs|
What is the Best course after completing 12th? – International Professional Courses:
What is the Best Course after completing 12th? – USCMA
The ICMA offers a complete professional curriculum called CMA (Certified Management Accountant). Aspirants who pursue this degree will have a thorough understanding of financial management and management accounting. https://www.araeducation.in/uscma-coaching-classes
What is USCMA?
CMA is one of the most well-known management accounting programmes in the world. It is more popular in the United States, yet it is available in over 100 countries.
Its reputation has attracted a large number of students, and ICMA has produced a large number of high-quality pupils throughout the years.
- It’s been shown that CMA graduates make nearly a third more than their non-certified competitors.
- The majority of financial fields are solely concerned with certification. CMA, on the other hand, is unique. It concentrates on both managerial accounting and financial management.
- As a result, CMA is more thorough than any other financial course, and taking CMA is more convenient for students.
- It has approximately 100 testing facilities throughout the world, and certification requires passing two examinations. Even if each exam is just four hours long.
Why to Choose USCMA:
It’s impossible to go incorrect with 40,000 kids in 40 years. They pursued CMA and are currently working for Fortune 500 organizations as top-tier professionals.
If a professional in the sector wants to build a name for him/her in the accounting field, he/she should pursue CMA.
- Middle Eastern, Chinese, Indian, American, and European students attend IMA. CMA focuses on underdeveloped countries, but it also helps students in rich nations.
- As a result, CMA is a truly worldwide programme, not only for students from the United States and Europe.
- It has a fantastic placement history. Once you’ve completed your CMA, you’ll be prepared to work for any Fortune 500 business with the skills and information you’ve gained.
- You’ll not only appear to be an expert in the industry, but you’ll also appear to be dignified.
- Not only does CMA certification provide excellent placement, but it also provides pay that few other worldwide courses can match. CMAs earn roughly $70,000 per year on average.
- A CMA certification and one to five years of experience in the field are all that is required.
Career after USCMA:
- Finance Manager.
- Financial Analyst.
- Financial Risk Manager.
- Financial Controller.
- Cost Accountant.
- Chief Financial Officer.
- Cost Manager.
- Relationship Manager.
What is the Best Course after completing 12th? – ACCA
ACCA (Association of Chartered Accountants) is a global professional organisation that offers a full professional curriculum.
Because the course concentrates on increasing the candidate’s basis of accounting principles, which is useful in the domains of audit and tax, candidates with this degree are recognised as the top accountants in the world.
What is ACCA?
One of the greatest accounting certification courses is the ACCA. For many years, ACCA has been training and teaching students.
Over 436,000 students have completed the ACCA programme and are now employed in reputable firms. The fact that ACCA is present in 180 countries adds to its respectability.
- ACCA’s curriculum is quite extensive, just as CMA’s. It is concerned with the field of finance, but it also stresses the technical and managerial components of the field.
- ACCA is well-known over the world. Companies favour ACCA over everyone else in the accounting field. Furthermore, you would receive a world-class education on a shoestring price, which is unusual.
- You will be acknowledged as one of the greatest accountants in the world once you have completed the course.
Why to Choose ACCA?
As ACCA is offered in 180 countries, it has a level of international recognition that few other global courses can match. It also boasts over 436,000 students who have previously proven why this education is worthwhile.
- ACCA is far less time consuming. ACCA is a good option if you want to earn a worldwide degree in less than two years. Furthermore, the course rates are a godsend for those who wish to take a global course on a shoestring budget.
- ACCA is far less difficult to finish than any other financial course. That isn’t to say that ACCA isn’t valuable.
- It has served its students since 1904, a period of more than 110 years, and no institute can remain so long without delivering value to its pupils.
Career after ACCA:
- Management Accountant
- Financial Accountant
- Corporate Treasurer
- Financial Controller
- Finance Manager
- Fund Accountant
- Finance Director
- Chief Financial Officer (CFO)
- Forensic Accountant
- Chief Financial Officer
- Tax Specialist
Key Differences between USCMA and ACCA:
|Certification Organized by||CMA is approved and sponsored by the Institute of Certified Management Accountants (ICMA). ICMA is affiliated with the Institute of Management Accountants (IMA). ICMA has more than 40,000 members in 100 countries.||The ACCA course is organized by the global body of the Association of Chartered Certified Accountants. It was founded in 1904.|
|Number of levels||CMA has only one level to clear. The level has two parts. Part one is about Financial Reporting, Planning, Performance, and Control, and Part two is about Financial Decision Making.||If you want to qualify as an ACCA, you need to clear four levels – knowledge, skills, essentials, and options. There is a total of 13 papers altogether.|
|Mode/Duration of Exam||In CMA, you need to sit for two exams. Each exam will consist of 4 hours duration, and each exam will contain 100 multiple choice questions and two 30 minute essay questions.||Other than the first three papers under Knowledge level, all exams’ duration is 3 hours each. The first three papers under the Knowledge level are 2 hours each.|
|Exam Window||CMA Exam Dates 2022 Jan 1 to Feb 28 May 1 to Jun 30 Sep 1 to Oct 31||For the four sessions, each exam cycle is as follows: March session: 1 Jan – 31 March. June session: 1 April – 30 June. September session: 1 July – 30 September. December session: 1 Oct – 31 December.|
|Subjects||CMA has only one level, but the level consists of two parts. Each part consists of many subject areas. Let’s have a look at those. |
External Financial Reporting
Decision Planning, Budgeting, and Forecasting
Financial Statement Analysis
|The subjects for ACCA are as follows – |
Accountant in Business (F1)
Management Accounting (F2)
Financial Accounting (F3)
Skill Level: Corporate and Business Law (F4)
Performance Management (F5)
Financial Reporting (F7)
Audit and Assurance (F8)
Financial Management (F9)
Essential Level: Governance, Risk, and Ethics (P1)Corporate Reporting (P2)Business Analysis (P3)
|Fees||After the price increase in July 2015, the registration fee of the exam is now $415 per part, which means you’ll have to pay $830 altogether.||The fees for ACCA are reasonable. If you do your exam registration early, it would be around 450 pounds (around the US $700).|
|Job opportunities/Job titles||The top jobs for CMA are Management & Cost Accountant, Financial Accountant, Financial Risk Manager, Management Consulting & Performance Management, etc. People also hire CMA for their overall financial decision-making functions.||Once you complete ACCA, multiple opportunities will open up for you. You can join Accounting firms, Educational & Training companies, FMCG sectors, Financial Services & Consulting companies, and even healthcare.|
|Salary||If you complete your CMA, you would be able to get an average salary of almost 70,000 USD per year if you have experienced between 1 to 5 years in the domain.||For ACCA you would be able to earn on the average of 46,000$ per year.|