05 Feb
Blog

CA vs CMA: Which One is the Better Career Option?

Introduction:

Choosing the right career path is a crucial decision, especially for commerce students facing the dilemma of whether to pursue Chartered Accountancy (CA) or Cost and Management Accountancy (CMA). This blog aims to provide a comprehensive comparison of CA and CMA, covering various aspects such as course structure, duration, fees, pass percentage, salary, job opportunities, and scope. By the end, readers should have a clearer understanding to make an informed decision.

1. Overview of the CA Course

The CA course is globally recognized and offers a demanding yet rewarding profession with extensive job prospects in finance, accounting, taxation, auditing, and more. Let’s delve into the key details:

2. The Steps To Become CA

  • Finish your 10+2 education with at least 50% marks.
  • Enroll and successfully pass the CA Foundation Exam.
  • Enroll and successfully pass the CA Intermediate  Exam.
  • Successfully completed three years of practical training for CA.
  • Successfully appear for and clear both groups of the CA Final exam.
  • Fulfill all course requirements and obtain CA certification and membership.

3. Overview of the CMA Course

The CMA course, focusing on cost and management accountancy, is suitable for those interested in management accounting and cost accounting careers. Here are the key details:

4. The Steps To Become A CMA

  • Enroll  for the CMA Foundation course and clear the examination.
  • Enroll for the CMA Intermediate course and clear the examination.
  • Complete the required practical training.
  • Enroll for the CMA Final course and clear the examination.
  • Obtain membership of the Institute of Cost Accountants of India (ICMAI).

5. Difference Between CA vs CMA

Let’s compare CA and CMA on various criteria:

Criteria CA CMA
Admission 10+2 with 50% marks in commerce or graduate 10+2 with 50% marks in any stream or graduate
Course Structure Three levels: Foundation, Intermediate, Final Three levels: Foundation, Intermediate, Final
Duration 4.5 to 5 years 3 years
Fees Approx. INR 2,00,000 to INR 3,50,000 Approx. INR 1,00,000
Pass Percentage Approx. 5-10% at each level Approx. 15-20% at each level
Salary Rs. 10-12 lakh per annum Rs. 7-8 lakh per annum
Job Options Auditing, taxation, accounting, finance Financial analysis, cost accounting, etc.
Scope/Demand High demand in big four firms, MNCs, etc. High demand in manufacturing, finance, etc.

6. Career Opportunities CA vs CMA

Career Opportunities After CA Course:

  1. Audit & Assurance
  2. Taxation
  3. Finance and Accounting
  4. Risk Management
  5. Investment Banking
  6. Chief Financial Officer

Career Opportunities After CMA Course:

  1. Cost Accountant
  2. Financial Analyst
  3. Management Accountant
  4. Financial Manager
  5. Chief Accountants
  6. Internal Auditor

7. Which is Better?

The decision between CA and CMA depends on individual interests, skills, and professional goals. CA offers a broader range of employment prospects with global recognition, while CMA focuses on cost and management accounting.

Conclusion:

Both CA and CMA have unique advantages, and students should choose based on their career goals and interests. It’s essential to explore the curricula, job prospects, and required skills of both courses to align them with individual objectives. Ultimately, the decision should reflect a thoughtful consideration of personal aspirations and the potential each career path holds.

CA-Inter-New-Syllabus
31 Jan
Blog

5 Helpful Tips for CA Inter New Syllabus Preparation for May 2024

Introduction

Aspiring to become a Chartered Accountant is an ambitious goal, and preparing for the CA Inter New Syllabus in May 2024 demands a strategic and comprehensive approach. Given the complexity of the subjects and the competitive nature of the exams, having a well-structured study plan is crucial. In this blog, we will explore five helpful tips for CA Inter New Syllabus preparation that can guide you towards success.

Also visit:- https://amitbachhawat.com/ca-intermediate-exam-2024/

5 Tips in Detail

1. Create a Well-Structured Study Plan:

One of the foundational elements of successful CA Inter preparation is a well-organized study plan. The new syllabus requires candidates to cover a range of subjects, and a balanced approach is essential. Here’s a detailed study plan for both groups:

Group 1

Subject Daily Hours Focus Timing
Accounting 2 hours Convenient Timing
Law 3 hours Divide into two halves
Costing 2 hours
Taxation 1 hour First thing in the morning

Group 2:

Subject Daily Hours Focus Timing
Advanced Accounting 2 hours
Auditing 3 hours
EIS SM 2 hours
FM-ECO and Taxation 1 hour Look over every morning

For more visit now:- https://www.icai.org/

2. Timely and Thorough Revision:

Revisions are the backbone of a robust exam preparation strategy. Completing the syllabus before the announcement of exam dates is crucial. To ensure your preparation is up-to-date, revise each subject at least thrice before the exams. Regular revisions not only reinforce your understanding but also help in identifying and rectifying mistakes.

3. Understanding Over Memorization:

The new syllabus emphasizes practical application, making it imperative for candidates to understand concepts rather than rote memorization. Practical papers are designed to test the application of knowledge in real-life scenarios. Focus on gaining a deep understanding of every topic, ensuring you are well-equipped to tackle practical challenges.

4. Solving Mock Test Papers:

Mock test papers are invaluable tools for exam preparation as they familiarize you with the exam pattern, question types, and help in building confidence. Consider incorporating the following into your routine:

  • Solve various mock test papers.

  • Practice with previous year’s questions provided by ICAI.

  • Analyze your performance to identify weak areas for improvement.

5. Effective Time Management:

Time management is the key to success in CA Inter exams. Strategically allocate time among theory and practical papers, seeking guidance from teachers to ensure every second is utilized effectively. The following table illustrates the importance of time management:

Paper Recommended Time Allocation
Theory Papers 60%
Practical Papers 40%

Conclusion

Preparing for the CA Inter New Syllabus for May 2024 requires dedication, organization, and a strategic approach. Creating a balanced study plan, focusing on timely and thorough revisions, understanding concepts, solving mock test papers, and effectively managing your time can enhance your chances of success. Combine these tips with self-study and expert coaching, such as CA Inter online classes by Amit Bachhawat, to ensure comprehensive and well-rounded preparation. Remember, success in CA Inter exams is not just about hard work; it’s about working smart and staying motivated throughout your preparation journey. Good luck!

 

Visit Now :  https://amitbachhawat.com/

12 Jan
Blog

The Best CA Coaching Institute in Kolkata

Why is Amit Bachhawat Training Forum the Best CA Coaching Institute in Kolkata?

Chartered Accountancy is a prestigious profession that demands excellent guidance and training. The key to success lies in selecting the appropriate coaching institute. If you’re looking for the best CA Coaching Institute in Kolkata, your search ends at Amit Bachhawat Training Forum. In this blog, we’ll explore the key reasons why Amit Bachhawat Training Forum stands out as the top institute for CA coaching in the city.

Explore Now :  https://amitbachhawat.com/pendrive-classes-for-ca-foundation/

Why Choose Amit Bachhawat Training Forum for CA Coaching Institute in Kolkata?

1. Experienced Faculty:

Our institute boasts a team of highly experienced and qualified professionals with a deep understanding of the CA curriculum. The faculty provides individualized attention to each student, ensuring a comprehensive understanding of the subject matter.

2. Structured Curriculum:

Amit Bachhawat Training Forum follows a well-structured curriculum that covers all essential topics required to excel in the CA exams. The course is designed to provide students with a solid foundation in accounting and finance.

3. Regular Mock Tests:

We regularly organize mock tests to boost exam readiness. These tests simulate real exam conditions, helping students identify their strengths and weaknesses and refine their exam strategies accordingly.

4. Doubt Clearing Sessions:

Our faculty conducts dedicated doubt-clearing sessions, addressing any questions or queries students may have. This ensures that students have a clear understanding of complex concepts and principles.

5. Online Classes:

We understand the importance of flexibility. Amit Bachhawat Training Forum offers online classes, making quality CA coaching accessible to students who cannot attend physical classes. The online classes include live lectures, doubt-clearing sessions, and regular assessments.

6. Face to Face Classes:

For those who prefer traditional classroom settings, we offer face-to-face classes at our institute in Kolkata. These classes provide a conducive environment for interactive learning and direct interaction with faculty.

7. Lectures to Purchase:

For added flexibility, students have the option to purchase recorded lectures. This allows them to revisit important topics at their own pace, reinforcing their understanding of the material.

Also Read : https://amitbachhawat.com/pendrive-classes-for-ca-foundation/

Why is Amit Bachhawat Training Forum the Best CA Coaching Institute in Kolkata?

At Amit Bachhawat Training Forum, we are committed to providing the best education and guidance to help students realize their CA dreams. Here are some key reasons why we stand out:

1. Personalized Attention:

We prioritize personalized attention to each student, ensuring that they grasp concepts thoroughly and are well-prepared for exams.

2. Strong Foundation:

Our courses are designed to provide students with a robust foundation in accounting and finance, preparing them for real-world challenges.

3. Affordable Fees:

We believe in making quality CA education accessible. Our institute offers CA coaching at an affordable fee structure, ensuring that aspiring CAs can pursue their dreams without financial constraints.

4. Proven Track Record:

Amit Bachhawat Training Forum has a proven track record of success, with many students clearing CA exams in their first attempt.

5. Old & Gold Institute:

With years of experience, we stand as an “Old & Gold” institute, symbolizing our enduring commitment to excellence in CA education.

Conclusion

Choosing the right CA coaching institute is pivotal for success in Chartered Accountancy. At Amit Bachhawat Training Forum, we offer a comprehensive package with experienced faculty, a structured curriculum, regular assessments, doubt-clearing sessions, and flexible learning options. Our commitment to personalized attention, strong foundations, affordability, and a proven track record makes us the best CA coaching institute in Kolkata. Join us on the path to success in your CA journey.

Visit Now :  https://amitbachhawat.com/

benefits of becoming a ca,
27 Dec
Blog

Why Should I Become a CMA

The Certified Management Accountant (CMA) is a primary accounting qualification that may propel you to better achievement and success. You must be a member of the Institute of Management Accountants (IMA), pass the CMA exam, and meet education and experience requirements to become a CMA. Consider these four CMA perks if you’re wondering, “Why should I become a CMA?” Discover more about each of them and how becoming certified can help you thrive in your accounting career.

Explore Now : https://amitbachhawat.com/product-category/cma-courses/best-cma-foundation-online-classes/

Breaking down the CMA Benefits

1. The CMA provides access to the business world:

The CMA is a sophisticated, globally recognized designation that demonstrates financial decision-making abilities in business. Some people prefer it to a CPA because of the business orientation. If you want to make business decisions, help run a business, or be connected in any manner with business, the CMA is your ticket. It allows you to specialize your accounting practice by giving you a thorough understanding of how accounting and business connect.

The CMA is commonly considered as the gold standard in management accounting, and it is designed to integrate accounting processes with business knowledge. To pass the CMA exam, you must understand corporate governance and accounting principles including responsibility accounting. This understanding places you in a unique position between the finance and management departments of a corporation. CMAs often end up working as advisors to their clients since they make informed business decisions with money in mind.

The CMA provides organizations with the crucial financial expertise they need to be efficient and profitable. CMAs regularly cooperate with upper management, and their knowledge, skills, and experience influence the direction of these businesses. When armed with relevant financial data and analysis, a CMA can play an important role on the management team.

Obtaining your CMA is one of the most important things you can do as an accountant if you want to work in a large business.

2. The CMA helps your career:

The CMA can lead to an exciting, rewarding, and financially rewarding accounting career. The CMA distinguishes you from other accountants by articulating your professional goals plainly. The letters “CMA” after your name indicate that you intend to manage money rather than simply report it. Passing the CMA exam shows that you are keen to broaden your knowledge beyond a bachelor’s or master’s degree. According to the IMA, 87% of CMAs believe that becoming certified improves their ability to maneuver across all business areas.

Many accountants can rise to higher-level employment because to the CMA. According to the IMA, CMAs hold the following positions:

Staff Accountant Cost Accountant Senior Accountant Controller

 

Budget Analyst Internal Auditor Finance Manager Financial Analyst

 

Chief Financial Officer Chief Executive Officer Vice President, Finance Treasurer

 

As you can see, the CMA enables you to not only carve your company position, but also to pull up a chair at the conference room table. Many CMAs advance in their careers as a consequence of their deep understanding of both finance and business concepts.

You will have additional career opportunities and opportunities for advancement if you acquire your CMA certification. Management accountants are in high demand as the demand for accountants grows.

3. The CMA boosts your earning power:

CMAs earn more than non-CMAs. That’s all there is to it. Accountants with this credential make 62% more on average worldwide, amounting to $31,000 more each year. When total income is factored in (health insurance, retirement, fringe benefits, etc.), the disparity becomes even more pronounced.

The gap is widening. In 2016, CMAs earned only 45% more than non-CMAs. CMAs in the Americas earned over $10,000 more per year in 2017 compared in 2016.

For a variety of reasons, CMAs may earn more than non-CMAs. For one reason, CMAs are better prepared for managerial positions, which are where the big bucks are in business. Second, obtaining certified requires the display of high-level management-related competencies required for Chief Financial Officer and even Chief Executive Officer positions. Companies are willing to pay a premium for employees who possess these skills.

CMA Courses : https://amitbachhawat.com/product-category/cma-courses/best-cma-foundation-online-classes/

4. You gain credibility and respect from the CMA:

CMAs have a better understanding of numbers and finance than other types of accountants. According to the IMA, “CMAs can explain the ‘why’ behind numbers, not just the ‘what.'” To acquire the certification, you must know more about business than most accountants and accounting than most business people. Once you have achieved the CMA, people will come to you for answers to big-picture, business-related finance questions. When you’re the go-to expert for help, you may expect more duties as well as a higher reputation and position. CMAs flourish as consultants, establishing themselves as an important element of business operations.

5. Improve your financial knowledge and skills:

Accountants who earn the CMA designation are often passionate about accounting and finance. Pursuing a CMA requires a thorough understanding of both basic and complex management processes, as the CMA exam’s two sections cover a wide range of these topics. Mastering these critical skill sets benefits a CMA in a variety of ways.

Because the CMA requires a thorough understanding of management accounting processes, putting these principles into practice will provide transferable skills. The duties of a CMA are typically more specialized than those of a standard accountant. In order to enhance your professional skills, incorporate duties such as budget analysis and planning, key investment decisions, and risk management into your daily routine.

Other benefits of obtaining a CMA include broadening your professional horizons by taking on more managerial-level positions. Many CMAs, for example, deal with presenting data to executive boards and other key company leaders in an understandable fashion. The majority of entry-level accountants and CPAs will not take on these duties. As a CMA, you will likely be needed to analyze external trends and figures, which is generally reserved for upper-level accountants.

One of the numerous advantages of the CMA designation is that it allows you to obtain a better grasp of a company’s financial operations. If you want to learn more about cost accounting and broaden your job horizons, this could be the course for you.

Ready to earn your CMA?

The CMA certification ensures work advancement and enhanced earning potential. Your expertise and experience position you well for success. Your accounting career path is endless and can take you all the way to the top if that is your goal. Amit  Bachhawat Training Forum CMA Review gives you an advantage by making the journey as efficient, quick, and worry-free as possible.

Also Read : https://amitbachhawat.com/product-category/cma-courses/best-online-classes-for-cma-inter/

Why Amit Bachhawat Training Forum for CMA?

Look no farther than Amit Bachhawat Training Forum, Kolkata’s finest destination for top-tier CMA education. Amit Bachhawat Training Forum has you covered whether you want the flexibility of online training or the traditional approach of offline workshops.

1.  Proven Track Record: Amit Bachhawat Training Forum has a proven track record of achieving great results with a team of committed educators. Our students continuously achieve distinction, cementing Amit Bachhawat’s reputation as a reliable name in CMA education.

2. Comprehensive Curriculum: Our meticulously designed curriculum ensures that you receive a thorough understanding of the CMA syllabus. We cover all aspects of Cost and Management Accountancy, equipping you with the knowledge and skills necessary to excel in your exams and beyond.

3. Flexible Learning Options: Recognizing our students’ different demands, Amit Bachhawat offers both online and offline classes. We offer a learning solution adapted to your tastes, whether you prefer the ease of studying from the comfort of your own home or the interactive setting of a physical classroom.

4. Expert Faculty:  We at Amit Bachhawat believe in the power of a good education. Our knowledgeable and dedicated faculty members are committed to fostering your academic development. They bring a lot of knowledge and professional experience to the classroom, ensuring that you get the finest advice possible.

5. Holistic Learning Experience : Amit Bachhawat goes beyond textbooks to develop a comprehensive learning experience. We give additional tools, practice examinations, and individual support to assist you in developing confidence and excelling in your CMA journey.

Make the smart choice for your CMA education—choose Amit Bachhawat Training Forum. Join our community of successful CMA professionals and embark on a path to a rewarding career. Your success begins with us!

Visit Now : https://amitbachhawat.com/

ca-intermediate-exam-2024
19 Dec
Blog

CA Intermediate Exam as Per New Syllabus 2024

Despite its difficult coursework and exams, the Chartered Accountancy (CA) Intermediate level is an important step toward becoming a chartered accountant. The Institute of Chartered Accountants of India (ICAI) has issued an updated curriculum for the CA Intermediate course to guarantee that prospective chartered accountants (CAs) have access to the most up-to-date knowledge and abilities. In this blog, we’ll go over the important ideas covered in the CA Intermediate New Syllabus, giving candidates a greater knowledge of what to expect and assistance on navigating this hard yet rewarding period of their career.

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Structure and pattern have been updated

In view of the new curriculum, the structure and design of the CA Intermediate test have been updated. Six papers are divided into two groups of three papers each, Group I and Group II. The framework is intended to provide a comprehensive grasp of many aspects of business, finance, and accounting.

Papers for Group I

a. Advanced Accounting:

 This section of the CA Intermediate New Syllabus 2024 focuses on the preparation of financial statements using Indian Accounting Standards that are comparable to IFRS, as well as the application of accounting standards to real-world business situations. It also discusses the framework for preparing financial statements and IFRS convergence or implementation.

b. Corporate and Other Laws:

This essay discusses business law, other corporate laws, ethics, as well as legal and regulatory issues. Candidates must be familiar with the laws that govern corporations and corporate governance.

c. Taxation:

Both direct and indirect taxes are covered in this paper. To prepare applicants for the complexities of the taxation landscape. It has 2 sections:

  • Goods and Service Tax(GST)
  •  Income Tax Laws(IT)

Papers for Group II

a. Cost and Management Accounting:

This paper gives candidates the tools they need to manage spending and make business decisions, with a focus on budgeting, performance analysis, and costing methodologies.

b. Auditing and Ethics:

The primary objectives are to comprehend core auditing principles and become acquainted with well-known auditing procedures, approaches, and competencies. Students will also learn how to apply this information successfully in audit and attestation projects.

c. Financial Management and Strategic Management:

Financial management’s primary purpose is to maximize the value of an organization’s money.

Strategic management, on the other hand, concentrates on the big picture, outlining how to create and implement plans that will assist a company in meeting its long-term objectives.

FM and SM are not distinct concepts; rather, they are two sides of the same coin. Excellent financial management is required for effective strategy, and making smart financial decisions requires a full understanding of the business environment. Students that take part in CA Inter gain a comprehensive viewpoint by learning both FM and SM.

Also Read : https://amitbachhawat.com/icai-new-scheme-2023/

Strategies for Preparation

Candidates must use efficient preparation methods given the broad nature of the new syllabus. Creating a study schedule that allows enough time for each paper, preparing with earlier tests and practice problems, and getting advice from mentors or skilled teachers are all necessary steps. Furthermore, candidates must stay current on any modifications or updates made by the ICAI in order to be well prepared for the examinations.

CA Inter New Syllabus 2024

Buy Now :  https://amitbachhawat.com/product-category/ca-inter-new-syllabus/

Conclusion

CA Intermediate New Syllabus represents a substantial advancement in integrating the CA curriculum with the needs of today’s corporate sector. Aspiring chartered accountants should approach this stage with the intention of comprehending both the theoretical and real-world applications of the concepts. Candidates can pass the exams and become well-rounded professionals able to make substantial contributions to the finance and accounting industries by actively studying the new syllabus and planning ahead.

Start your journey with CA online classes at Amit Bachhawat Training Forum: 

 https://amitbachhawat.com/

pendrive-classes-for-ca-foundation
12 Dec
Blog

Pendrive Classes For CA Foundation Preparation

The entry-level education for chartered accountants is called CA Foundation. The primary aim of Foundation Stage is to furnish Class 12 and graduate students with fundamental information and comprehension of the CA Foundation Course. For the best CA coaching in India, enroll at Amit Bachhawat Training Forum. The finest organization to assist you with this is ABTF.

At reasonable costs, Amit Bachhawat provides excellent instruction for both offline and online CA Foundation courses. Our staff of highly skilled educators gives each student individualized attention and a top-notch education to help them do well on tests and raise their grades.

Explore More  :  https://amitbachhawat.com/

Advantages of CA Foundation Pen Drive Classes

1. Adaptable Timetable for Learning:

With flexible CA Foundation Pen Drive sessions, students are able to design their own customized learning plan. Applicants are allowed to alter their study plan to suit their needs and preferences.

2. Reachable from anywhere at any time:

With portable pen drives, students can access their lectures and course materials at any time, anywhere. This ensures that learning is not limited by a classroom’s physical walls, allowing for efficient time management.

3. Personalized Learning Path:

Students are allowed to progress through the curriculum at their own speed, repeat difficult courses, and skip ideas they already understand.

4. Thorough Study Material:

Pen Drive seminars include well chosen learning tools that cover every topic in the CA Foundation curriculum. This all-encompassing strategy promotes methodical study and review, ensuring that students are well-prepared for the exam.

5. Interactive Learning Environment:

This interactive learning environment aids in the comprehension of complicated CA Foundation ideas.

6. There will be no more missed classes:

Online CA coaching eliminates the need for class attendance, ensuring complete understanding without missing lessons.

Join CA Foundation New Batch for All Subjects Dec 2023 | ABTF

Enroll Now:  https://amitbachhawat.com/product/ca-foundation-all-4-subjects-live-batch-dec23/

Differences Between Pendrive Classes and Offline Classes

Criteria Pendrive Classes Offline Classes
Flexibility in Learning With on-demand access, you have unprecedented flexibility. Follows a structured timetable with fixed classes.
Accessibility and Convenience Learning anytime, anywhere with portable drives. Restricted to a single location and necessitating actual presence.
Financial Considerations Saving money by avoiding travel and lodging costs. Additional expenditures, such as transportation and material fees, may be incurred.
Personalized Learning Experience Empowers personalized learning at the learner’s pace. Typically follows a fixed pace for all students.
Interaction and Engagement Incorporates interactive elements like video lectures and quizzes. Allows for more direct engagement with instructors and peers.
Real-Time Doubt Resolution Provides answers to questions via online forums, live sessions, and expert Q&A sessions. Allows for real-time doubt resolution during class hours.

Also Read : https://amitbachhawat.com/ca-classes-in-kolkata/

Why Choose ABTF for Ordering Pen Drive Classes?

  • Recorded Classes for All Courses
  • HD Quality Video Lectures
  • 100% Genuine Products
  • Safe and Secure Payment
  • Latest Video Lectures & Books
  • Free Delivery for All Courses
  • Recorded Videos Specially Designed for Exam Preparation

Conclusion

Ordering CA Pen Drive Classes is a simple process that will help you prepare for the CA exam. You’re not simply investing in classes when you have a user-friendly design and broad subject covering; you’re investing in your success. Take advantage of this opportunity to realize your full potential and confidently pass the CA examinations!

Pendrive CA classes are convenient and beneficial for students who do not have access to offline classes. The Advantages of Recorded Classes Convenience for studying at any time and from any location The ability to pause, rewind, and replay content as needed Individual study schedules can be accommodated through self-paced learning.Access to High-Definition Video Lectures Improved visual experience for improved comprehension Audio clarity for optimal listening Comprehensive course content covered in high resolution. Expert Question and Answer Session Subject area specialists and experienced faculty are available. Interactive tool for explaining topics and asking questions. During live sessions, real-time answer is provided for immediate doubt resolution.

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FAQ’s

Q1: Are CA Pen Drive Classes accessible on all devices?

Yes, our classes are compatible with a variety of devices, giving you the freedom to study whenever and anywhere you want.

Q2: What if I face technical issues during the download?

Please contact our professional support team right away. We will provide fast support to resolve any technical issues.

icai ca logo
04 Dec
Blog

ICAI unveils New CA Logo at GloPAC Conference

In the Global Professional Accountants Convention (GloPAC), the Institute of Chartered Accountants of India (ICAI) revealed a new logo for Chartered Accountants (CAs). The symbol represents the accounting profession’s commitment to becoming a nation-building partner.

The Institute tweeted on ‘X’,

Click Now:  https://x.com/theicai/status/1728012794245906869?s=20

In 2022, the ICAI successfully organized the 21st World Congress of Accountants. Building on this success, the ICAI is currently launching its inaugural “Global Professional Accountants Convention” (GloPAC), with the intention of producing similar-sized gatherings in the future. The purpose is to unite the global accounting community and keep them informed of the world’s ever-changing dynamics.

GloPAC attempts to bring key players from around the world together, such as thought leaders, policymakers, standard setters, industry and commerce groups, and financial institutions. The major purpose is to hold meaningful conversations and debates regarding current accounting difficulties and future advancements. GloPAC, positioned as a ‘Window to the Future,’ offers comprehension and adaptability to previously unforeseen aspects in the global economy and regulatory landscape. This convention serves as a forum for leaders to exchange ideas and have conversations, as well as a guideline for professional accountants. The new logo is designed to bring about a significant shift in the attitude and passion of the chartered accountancy profession.

This convention serves as a place for leaders to exchange ideas and conversations, indicating a path for professional accountant development, and the new logo is expected to bring about a fresh shift in the spirit and passion of the chartered accountancy profession.

Click Now:  https://x.com/theicai/status/1728012794245906869?s=20

In 2022, the ICAI successfully organized the 21st World Congress of Accountants. Building on this success, the ICAI is currently launching its inaugural “Global Professional Accountants Convention” (GloPAC), with the intention of producing similar-sized gatherings in the future. The purpose is to unite the global accounting community and keep them informed of the world’s ever-changing dynamics.

GloPAC attempts to bring key players from around the world together, such as thought leaders, policymakers, standard setters, industry and commerce groups, and financial institutions. The major purpose is to hold meaningful conversations and debates regarding current accounting difficulties and future advancements. GloPAC, positioned as a ‘Window to the Future,’ offers comprehension and adaptability to previously unforeseen aspects in the global economy and regulatory landscape. This convention serves as a forum for leaders to exchange ideas and have conversations, as well as a guideline for professional accountants. The new logo is designed to bring about a significant shift in the attitude and passion of the chartered accountancy profession.

This convention serves as a place for leaders to exchange ideas and conversations, indicating a path for professional accountant development, and the new logo is expected to bring about a fresh shift in the spirit and passion of the chartered accountancy profession.

Guidelines for the use of new CA logo and colour significance

During the GloPAC Convention, the Institute of Chartered Accountants of India (ICAI) proudly unveiled its new logo, ushering in a new era for the prestigious accounting profession. This eye-catching design complements the colors of the Indian national flag well. This unique design not only honors the country’s rich heritage, but it also symbolizes the symbiotic relationship between the prestigious accounting profession and the spirit of India. More than just a cosmetic alteration, the new logo is a powerful reflection of the fundamental values that have characterized the ICAI and the accounting profession throughout their long history.

Incorporation of Tricolor

The tricolor in the logo is an eye-catching representation of the Institute’s ties to India. The three colors of the Indian flag represent unity, diversity, and sovereignty, and they reflect the brand’s commitment to serving Indians and contributing to the country’s progress. The tricolor has been used in a way that indicates velocity, flight, and progress, emphasizing the Institute’s forward-thinking mindset.

Significance of blue color

The predominant color of the new logo is blue, which was inspired by the ICAI logo. Blue is a hue linked with divinity, immortality, bravery, and determination. It reflects immensity, being the color of the sky and ocean, and has long been a part of the Indian cultural, political, and social environment. Blue is also culturally significant, having been a part of Indian tradition for almost 5,000 years

Adaptability on all platforms

The new logo is compatible with all platforms, both digital and analog, which is essential for a modern brand. This versatility ensures that the Institute’s brand remains consistent across all media, enhancing the Institute’s identity and credibility. The versatility of the new logo also makes it more accessible to the Institute’s stakeholders, who include members, students, and the general public.

In a nutshell

CA India’s new logo reflects the brand’s relationship to India while maintaining its existing identity. The new logo incorporates the tricolor, emphasizes the relevance of the blue color, and is adaptable across all platforms. The design is intended to be both aesthetically beautiful and culturally meaningful, representing the Institute’s principles and commitment to helping the people of India.

Guidelines (2023) for using the new CA India logo for CA members

The logo consists of the letters ‘CA’ in blue on a white background, with an upside-down multicolored tick mark. Blue denotes not simply contrast against any background, but also originality, innovation, knowledge, integrity, trust, truth, stability, and depth. The upside-down tick mark, which Chartered Accountants usually use, has been included to signify the professional’s wisdom and value. 

The term ‘India’ is also featured in the design to highlight the Institute’s connection to the India First approach and commitment to serve the Indian economy for the greater good. 

– The font should not be changed (color, bold/unbold, size). Furthermore, the spacing and size should not vary. 

– The color scheme is :

– Do not alter the design or colors, including the white backdrop.

– Do not rotate or tilt the logo clockwise or counterclockwise. 

– The logo should not be reduced or altered in any way that changes its original proportion. 

– While members are encouraged to use the new CA India Logo on letterheads, visiting cards, and the website, a one-year transition period has been provided for members to use existing stationary/signage replacement, etc. 

*Effective from 24th November, 2023.

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FAQ’s

1 .Who is the youngest CA in India?

Nischal Narayanam, a Hyderabad-born child prodigy, is the country’s youngest chartered accountant.

2. Who is First Lady CA in India?

R Sivabhogam (Ramasamy), who was born in India on July 23, 1907, was the country’s first female chartered accountant.

3 .Who is the father of CA in India?

The man recognized as founding the accounting profession in India is Shri Kalyan Subramani Aiyar (1859–1940).

career-planning
25 Nov
Blog

Role of Parents in Career Planning

Parents are a child’s first teachers, so they are extremely important in helping children make professional plans. No one is a better mentor to them than their parents. They have to pick a career that will help their kid flourish and lead a happy life. A properly designed career is a major factor in success and a happy life. Additionally, research indicates that youngsters who receive support from their parents are more likely to have self-belief and perform better than those who select a career path that defies their parents’ preferences.

But you have to be thinking, how can we coach them more effectively? or decide which career path is best for them? Be at ease! We’ll provide you with some information below to help you decide which career route is ideal for your kids. Let’s look at these things:

Interest

Even though you had intended for your child to prepare for the IAS, medical school, or chartered accountancy, he might have an interest in sports. You have to acknowledge that pursuing a career in which you lack interest might be quite difficult. Thus, never place pressure on your children to meet your expectations. Assist him in getting what he desires.

It should be something you can look forward to, be content with, and inspire you to keep going in your work. Consequently, the parents’ first consideration while deciding on their career path should be the child’s interests.

Scope in Future

When your child is choosing a career, the second thing to consider is the breadth. Even while some career choices aren’t as popular as they once were, there are still plenty of options for them. As such, it is imperative that you anticipate your child’s career aspirations when raising them.

Salary and Incentives

Maybe you think that money doesn’t really matter. Priorities should be determined by reputation and knowledge. Money is certainly not the most important factor, but in this day and age, a happy existence requires a higher income rather than just a livable one. The job route your child chooses must enable him to follow his aspirations in the future.

For example, if someone wants to live a wealthy lifestyle, they should choose a job in law or medicine over writing or photography unless they demonstrate a creative interest in those fields.

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Should Not be Burdensome

You might be under the impression that money isn’t a big deal. Knowledge and reputation ought to come first. Earning more than the minimum wage is necessary to live a good life in the modern period, even though money is clearly not the most important factor. The future profession your child chooses should enable him to follow his aspirations.

For example, if they want to live an affluent lifestyle, they should choose occupations in the medical or legal fields above those in writing or photography until they are creative and have an interest in it.

Visit the Career Services

Many colleges or universities where your child attends provide counseling services that, by evaluating your child’s strengths and weaknesses, can provide you better direction. Attend the counseling sessions that the school, colleges, or other institutions are hosting, or just have a face-to-face conversation with the instructor. They are also great resources for you as guides.

Because they have gone through this process, parents are better able to comprehend this. Even though the timing is now different. Allowing your child to make errors is more suitable than placing him under pressure to meet unreasonable expectations or forcing him to work while they are learning.

You should assess his strengths and abilities, assist him in discovering his passion or goal, inspire him to pursue this line of work, and help him select the ideal vocation for him.

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ca-in-abroad
20 Nov
Blog

CA In Abroad: How to Study, Scope and Opportunities (2023)

These days, a lot of students are eager to work as certified public accountants (CAs) in various foreign nations. At the same time, there is a constant need for Indian talent in the financial sector in developed nations such as the USA and Europe. Memorandums of understanding (MOUs) have been arranged by ICAI with other countries to accommodate demand by guaranteeing recognition of Indian CA programs and providing international CAs with first-hand experience.

CA stands for chartered accountant. In the commerce stream, it is a professional course that comes after the 12th grade. offering more choices, opportunities for employment, and the best remuneration possibilities available. This is the reason the Institute of Chartered Accountants in India oversaw the board and the course or ICAI.

The popularity of this subject is demonstrated by the number of students that attempt the CA foundation exam annually and by the trend of increasing numbers each year. Annually, about 10 lakh students enrol in the CA Foundation program, spending five years or longer in school to earn the CA credential. Surprisingly, just 12% of students are able to pass the CA final test in their first attempt.

It is clear that Amit Bachhawat Training Forum is the best CA school in India for students getting ready for the CA exam. in the The CA is one of the most sought-after professional degrees after the 12th grade. Amit Bachhawat Training Forum for CA offers exceptional online tutoring to students who pass their class 11 and 12 exams. 

Under one roof, we provide training for the CA foundation, intermediate, and final exams.

Based on the aforementioned, we believe that being a CPA is undoubtedly the most rewarding career choice, even though it is not an easy one to master.

But as we are the pioneers in providing CA Coaching in India, we are well-equipped to handle this difficult situation.

Being the most reliable CA course mentor in India, we try our best to provide precise answers to any inquiries. The most common question that students have is, “What is the scope of CA in abroad?”

Continue reading to find out what Amit Bachhawat Training Forum has to say about the scope of the CA overseas.

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Opportunities for CA

The CA curriculum offers accounting, taxes, and auditing training to its students. The demand for chartered accountants is rising significantly for both small and large firms.

If you want to pursue the degree or become a chartered accountant, you have to be accustomed to busy and demanding schedules. The heavy workload for the course is the cause of this. Nevertheless, all of the student’s efforts will pay off if they are selected for the CA profile.

Three essential characteristics are needed for a chartered accountant to be effective: reporting, compliance, and analytical skills. These are the skills that dictate a CA’s compensation. Chartered accountant with experience in management audits, budget management, strategic accounting, controlling, and financial analysis.

The growing awareness of the course has also led to an increase in the demand for CAs overseas, as many global Chartered Accounting firms are looking to work with and hire trained CAs to assist with their account management.

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Scope for CA in Abroad

The reach of CA abroad has grown globally. Even if the institute does not specify a subject of study, you are free to pursue a career in any area that interests you. Nonetheless, the subject matter should align with the subjects taught in your program.

Instead of becoming an employee of the company, CA of India may also start own establishment. They have to evaluate their merit in order to gain the clientele in this. In addition, they are able to apply for positions in the public, private, and government sectors.

If you’re seeking for the certification abroad, the CA Institute is also well-known and regarded in Wales, Australia, and England. Thus, in the aforementioned countries, they have the option to adopt the same procedures.

The only limitation is that they can only apply for positions with businesses that have operations in India. If not, you might have to apply to the country where you plan to work’s nationally recognized program. It is advisable for you to examine the exemptions that you are entitled to according to the Indian educational system.

Countries who have signed the MOU with ICAI:

Various job profiles are offered in various nations. For instance, the emphasis area in the Middle East is money laundering, while in Canada and the USA it is accountancy. Therefore, it will need some more time to comprehend these nations’ auditing industries.

Pay varies among nations according to the course. This primarily depends on how much each nation’s cost of living is. For instance, the high cost of living there further justifies your receiving more than $60k USD.

The list of nations with MOUs with ICAI is shown here. It will assist you.

Get the clarification about which country is best for CA study?

Canada: ICAI pursued the same conversations, taking advantage of the fact that Canada’s Memorandum of Understanding with its professional groups expired in 2016. After these entities are restored, it is difficult to determine the professional opportunity.

Australia: You can join the MOU as an associate member after sending in the necessary paperwork. It also says that even while you can work with the industries, you can’t certify or sign as an independent CA, nor can you practice on public property.

England: The legal system here is exactly the same as it is in Australia. You can work with an organization, but you cannot certify or sign on your own.

Dubai: Because of the Dubai chapter, a lot of CA travel to this place. Before becoming a member of the CA chapter, the CA of India must first correctly register and affiliate. After you become a CA, it will be easy for you to apply for jobs and be employed. At the same time, a lot of newly founded companies in Dubai are staffing their accounting and auditing departments with a lot of CAs. By 2024, Dubai intends to spend significantly in the creation of new business zones, which will open up employment opportunities for Indian chartered accountants.

Malaysia: Many Amit Bachhawat Training Forum students were keen to learn about opportunities in Malaysia and Singapore. Any recent CA graduate seeking a luxurious lifestyle and substantial income may want to check into Singapore and Malaysia. Still, we would want to let those candidates know that certain cities do not accept CA freshers. When hiring a CA from India, their government even mandates that the candidate have more than five years of experience. This government aggressively promotes employment locally.

About the CA Course:

Every business that is registered under the company statutes must hire a chartered accountant. They perform a range of duties, including those of financial controllers, managers, advisors, and directors, in addition to auditing their accounts.

The course’s scope is growing as students have more opportunities to pursue it. Once all of their buildings are completed, they should have no problem landing a job with the government or a private company that pays well annually.

They have two options: they can start their own businesses or become company employees.

  1. Chartered accountancy: course after 12th is one of the best professional courses in the commerce stream. Unlike many institutions providing degrees, only ICAI can certify you as a CA.CA course is nothing less than some of the high salary courses after 12th science. It is one of the highest rewarding courses in the commerce stream.
  2. Stream: CA courses can be pursued by commerce, science, and arts stream students. But it is preferable for commerce background students.
  3. Career Scope: At present, Chartered Accountants have abundant work opportunities and will continue to grow in the future.
  4. Duration: The CA Course duration after 12th is 5 years and after graduation is 4.5 years.
  5. Salary: 3.5-7 lakhs per annum is the average CA salary a fresher can earn. On the positive side, with a job in Big 4 MNCs or few years of experience, you can make as high as 75 lakhs. In fact, you can even start your practice and firm; it will open limitless opportunities for you. You can say CA is also one of the best self-employment courses after the 12th.
  6. Fees: The total CA Course fees in India for 5 years is Rs. 87,300. For graduate students, the total fee is Rs. 76,200.

Structure for the CA course

Students can pursue the course for chartered accountants in three different levels. Details and introduction to these levels is thus mentioned below:

CA Foundation: First Stage

Students may continue with the course at this level if they have passed their tenth grade board exams or final exams. They must set up an account with the ICAI Board of Studies. Sixty days prior to the exam date, they can register for their foundation exams. Nevertheless, they must pass their 12th boards before they may appear for the CA Foundation.

The foundation test consists of 400 marks split equally among four subjects, including both objective and subjective questions.

The drawback of the same is that a negative marking method is also included. To be cleared, students must receive at least 50% of the possible points.

CA Intermediate: Second Stage

In this stage, eight more people are involved, divided into two groups of four topics each. Three more categories are available for students to register for intermediate courses.

For individuals who have finished their 12th grade exams and intend to continue their education abroad afterward. 

Program for direct admission for individuals with or without a degree in non-business or business-related subjects.

for pupils who have previously passed the Intermediate Exams of the Cost Accountant Institute.

CA Articleship

After passing the first two levels, students must successfully complete the three-year CA articleship training under a practicing CA. During this period, they have to sign up for two different classes on management and communication skills. For the course, you can apply for an articleship from anywhere in India.

CA Final: Third Stage

This is the last phase. Eight subjects are split into two groups in this as well. In this last phase, we anticipate that students taking the tests will be fully knowledgeable about the subjects.

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Conclusion

If you have been transferred as a CA overseas, you don’t need to be concerned. However, if you intend to begin practicing elsewhere, you must have the support of additional qualifications, particularly those that are accepted in that nation. Thus, these extra credentials will assist you in discovering the foundation for greater and better prospects.

best-courses-along-with-ca
16 Nov
Blog

What are the Best Courses to do along with CA?

It takes years of dedication and preparation on the part of the student to become a CA. However, because chartered accounting is one of the most sought-after degrees, there is currently more rivalry in the industry. Even if there are more opportunities for chartered accountants than ever before, getting a second degree or certificate will make you stand out from the crowd. While the additional courses can be completed in conjunction with a CA degree, most students opt to do so following the CA course.  

You will gain a great deal from the dual educational qualification, which will provide you access to better jobs and higher salaries in esteemed corporate institutions. If you’re not sure what courses you can do in addition to CA, go through the top 13. In addition to your CA degree, completing any of these courses can guarantee an increase in your CA wage and lead to career opportunities that could change the game. 

Courses to do Along with CA: 13 Best Options for You

1. CMA (Cost and Management Accountant)

If you have decided to pursue a profession in costing, one of your favorite subjects from the CA degree, the CMA course in conjunction with the CA course will be helpful. With practice, you can land high-paying jobs with prestigious, high-end clients or in industrial organizations. 

CA students can also receive exemptions because the CMA course and 70% of the CA syllabus are similar. 

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2. CS (Company Secretary)

Taking CS classes in addition to CA courses is a wonderful combination for a degree in dual specialization with CA. Because the concepts in the CS course are straightforward and similar to those in the CA course, you won’t have much issue managing your study time. You can obtain dual-course degrees at the lowest possible cost because to the incredibly low CS fee. A smart strategy to boost your profession is to take a CS course in addition to a CA. You may easily handle jobs including client accounts, money, and management and administration. You’ll be able to climb the professional ladder by doing this. 

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3. CFA (Chartered Financial Analyst)

CFA is arguably one of the best options for courses to take in addition to CA. It is not recommended for all CA students, nevertheless, if you have an interest in the stock market, corporate finance, investment banking, stocks research, portfolio management, or the financial sector in general. Similar to CA, CFA is a degree program recognized worldwide. 

Tests for this program are offered often, so there’s a good possibility you can fit it in around your schedule for your CA exams. CA students also have an edge at the first CFA level because of the course’s simplicity of learning and resemblance to various topics covered in CA courses. However, some students find it hard to take a CFA course in addition to a CA degree because both courses require time and attention. If you think that doing the two courses at the same time will hurt your performance, you can take the CFA course after the CA course. 

A combination CA+CFA degree is the best option for those who want to work in senior positions at famous international companies. Your initial compensation payment should come in the range of 8 to 15 lakhs.

CA after 12th or Bcom | Best Time to Start CA Course Preparation

4. MBA (Masters of Business Administration)

Along with CA, one of the most sought-after degrees to pursue is MBA, and for good reason. It strengthens your educational background and prepares you for the business world. A more career-focused option would be to get an MBA with a concentration in finance. 

However, the value of an MBA with CA will only rise if you study for the degree at a recognized university; enrolling in the program as a regular course is preferred. Why is that? since your main objective will be to obtain advanced management skills rather than just a degree. These skills can help you advance to senior positions in major corporations. 

5. Law

If you believe that the legal topics covered in the CA course are interesting and worth pursuing as a major in your career, then finishing an LLB course will be very helpful. If you have a strong foundation in CA courses and the law, you may manage circumstances involving business law, civil law, international law, labor law, family law, patent law, etc. with competence.

In the event that you are simultaneously working as a certified public accountant, having a law degree will enable you to provide your clients a greater range of services and increase your legal expertise.

6. FRM (Financial Risk Management)

People who pursue the CA certification can improve their chances of advancing professionally in the financial business. FRM is a widely sought-after certification program. Through the FRM course, you will be exposed to the practical work in the field. 

The top Indian organizations look for candidates that possess risk management skills in addition to financial understanding and associated talents. As a result, this training will improve your knowledge and CV. The average salary range for a candidate with degrees in FRM and CA is between 7-8 lakh annually.

7. CIMA (Chartered Institute of Management Accountants)

CIMA is the best course to take in addition to CA. Furthermore, the program has worldwide recognition, which will increase your chances of finding job. This course broadens your understanding of management beyond accounting. You’ll gain skills in leadership, people management, and other areas. 

For students studying California, the CIMA procedure is quick and easy because there are several exemptions available.

8. CIA (Certified Internal Auditor)

All CA students who plan to pursue professions in the auditing vertical should take the CIA course in combination with CA. This program will equip you with professional-level internal auditing skills. 

IIA USA offers a course that is recognized globally. The exam is offered online and can be taken at any time of year. All CA students will find this to be fairly convenient, given their hectic schedules. 

9. ACCA (Association of Certified Chartered Accountants)

If you have passed most of the CA Intermediate or CA Final examinations, you do not need to take all of the ACCA exams. Since many of the topics covered by ACCA and CA are similar, you will only need to submit a limited number of extra papers. Other documents will be exempted for you.

When you apply to India’s Big 4 CA firms, a degree in CA+ACCA will offer you an advantage over other candidates and increase your chances of getting hired abroad. 

10. CPA (Certified Public Accountants)

After completing the CA program, students who want to study overseas must complete the CPA course to become conversant with US GAAP. This course is required if you want to practice public accounting in the United States. Some foreign organizations in India now require you to have a CPA degree in addition to your CA. With this dual course education background in India, nevertheless, you won’t be able to maximize your potential and all of your work opportunities.

11. Financial Modelling

The financial modeling course helps you explore research, analysis, project finance, and related disciplines. As this course does not limit you to the study of taxation, auditing, and accounting. You’ll get proficient at creating financial models and utilizing spreadsheets in no time at all. This training is going to increase your output and provide you a competitive edge—even for those who want to work in high-paying jobs. This training is quite helpful for anyone who want to work as practitioners. The financial modeling strategies you learn in this course, along with your knowledge of CA, will enable you to provide accurate and convincing project finance reports for your clients.

12. CFP (Certified Financial Planner)

With the CFP additional qualification, you will develop into a professional who can point clients and investors in the direction of the greatest financial investment options. In India, CFP is becoming an increasingly popular professional option because several banks have made it mandatory for its relationship managers to obtain it. 

The CFP course consists of five levels, most of which are not open to applicants for the CA. CFP is an excellent course to take in addition to CA for those who want to work in the financial or tax sector. 

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