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Career Options In Commerce
Acknowledgements
 I would like to convey my sincere thanks
to my Economics teacher, Mrs. Poonam
Goel who helped me choose the topic and
gave me some valuable inputs. I also
thank her for her motivation and guidance
during the project and during my studies in
general.
Why Commerce?
 Contrary to the perception, careers in
commerce provide a high earning and a
respectable job.
 Students interested in numbers and the
financial aspect of life should choose
commerce.
 For most part of studies, commerce
requires common sense and logic instead
Various Career Options
 Today, there are a wide range of topics to choose
from to pursue a career as compared to few years
ago. Some of them specific to the stream of
commerce are :-
1. Actuarial Science
2. Company Secretary
3. Cost and Work Accountant
4. Chartered Accountancy
Actuarial Science
 An actuary is an expert in assessing the financial impacts of tomorrow’s
uncertain events. They enable more informed decisions.
 Eligibility :-
1. Should have completed 18 years of age
2. Should have attained anyone of the following Educational Standards-
 Passed 10+2 or equivalent with at least 85% in Mathematics / Statistics
 Graduate or Post Graduate in Mathematics/Stats/Econometrics
 Any Engineer / CA / CS / MBA (Finance) / MCA
 Fully qualified members of following Professional bodies such as :-
 The Institute Of Chartered Accountants of India (ICAI)
 The Institute of Cost and Works Accountant of India (ICWAI)
 The Institute of Financial Analyst of India (IFAI)
 The Insurance Institute of India (III) passing with subjects 81- mathematical
Basis of Insurance and 82- Statistics.
3. An application should be recommended by a member of professional body
like such as ICAI, ICWAI and ICSI.
 Core Technical Stage- 8 compulsory papers (CT1-CT8) with
one paper of 100 marks
 Core Application Stage- 2 compulsory subjects (CA 1 to
CA3), CA1 consists of two papers whereas CA2 and CA3 shall
have one paper each.
 Specialist Technical Stage- 6 papers (ST1 to ST6) and the
students have to choose any two.
 Specialist Application Stage- 6 papers (SA1 to SA6) and the
Specialist Application
Stage
Stages Of Examination
Core Application
Stage
Specialist Technical
Stage
Core Technical
Stage
 Future Prospects:
1. Insurance companies [be it private or public- life or general]
2. Firm of Consulting Actuaries
3. Authorities like IRDA, PFRDA & TAC.
4. Asset liability Management Companies
5. Large banks and Investment Firms like World Bank, ADB, etc
6. Pension Banks and Employee Benefit Companies- likely to be
opened in India soon.
7. Large Capital & Turnkey Project Handling Companies
8. Software Development Companies
9. Actuarial BPO Companies
1. In addition to the above, employment
opportunities are expected to arise in future in
the offices of:
2. Insurance Intermediates
3. Pension Providers other than insurance
companies.
4. Education Institution (Providing Courses on
Finance & Actuarial Science)
5. Re-insurances
Institute of Actuaries of India
 Institute of Actuaries of India (IAI) is a statutory body
established under The Actuaries Act 2006 (35 of
2006) for regulation of profession of Actuaries in
India.
 It is a member of the umbrella body International
Actuarial Association
Objectives
1.Advancement of the Actuarial profession in
India.
2.Providing opportunities for interaction among
members of the profession.
3.Facilitating research, arranging lectures on
relevant subjects.
4.Providing facilities and guidance to those
studying for the Actuarial exams.
Company Secretary
 A CS is a person who is:-
1. An expert in corporate laws, securities laws & capital
market and corporate governance.
2. Chief advisor to the board of directors on best
practices in Corporate Governance.
3. Responsible for all regulatory compliances of
company.
4. Corporate planner and strategic manager.
Stages in CS
ProfessionalFoundation Executive
Foundation Programme
 Eligibility:-
 10+2 or equivalent
 Provisional admission is allowed to a candidate who has
appeared or enrolled for appearing in Senior Secondary
(10+2 or equivalent) examination , provided proof of passing
the examination is produced within 6 months of making the
application.
 Admission- Making an application in the prescribed Form
FC-1 together with documentary evidence in support of date
of birth and educational qualification.
 Duration- 8 months, excluding the months of admission and
the examination.
# Students are required to pass the Foundation examination
within 3 years from the date of their admission
Foundation
Subjects
Elements of
Business Laws
And Management
Economics
And
Statistics
Financial
Accounting
(100 Marks)
Business
Communication
(50 Marks)
English
(50 Marks)
Statistics
(50 Marks)
Economics
(50 Marks)
Elements of
Business
Laws
(50 Marks)
Elements of
Management
(50 Marks)
English and
Business
Communication
Executive Programme
 Registration Period:-
1. Five years from the month in which his application,
complete in all respects, is accepted for registration.
2. A registered student is required to complete the
Executive and the Professional examination within the
registration period.
Subjects
Module IIModule I
General &
Commercial Laws
Company Accounts and
Cost & Management Accounting
Tax Laws
Company Law
Economic And
Labour Laws
Securities Laws
and Compliances
$ All papers are of 100 marks
Professional Programme
 Eligibility- Passing the Executive Programme
examination.
Subjects
Module IVModule II Module IIIModule I
Drafting,
Appearances
&
Pleadings
Company
Secretarial
Practice
Restructuring
And
Insolvency
Financial,
Treasury
&
Forex
Management
Advanced
Tax Laws and
Practice
Module
Strategic
Management,
Alliances and
International
Trade
Due
Diligence
&
Corporate
Compliance
Management
Governance,
Business
Ethics
And
Sustainability
$ All papers are of 100 marks
Future Prospects
 Employment :
 Companies with a paid up share capital of Rs.5 crores or more
are compulsorily required to appoint a whole time Company
Secretary who is a Member of ICSI
 All companies seeking listing on Stock Exchange are required
to appoint a whole time company secretary
 Membership of the Institute is recognized for appointment to
superior posts and services under Central Government.
 Self-Employment
 After obtaining a ‘Certificate of Practice’ from the Institute,
members of the Institute can go in for Independent Practice.
 The Institute of Company Secretaries of India is
constituted under an Act of Parliament i.e. the
Company Secretaries Act, 1980 (Act No. 56 of
1980). ICSI is the only recognized professional
body in India to develop and regulate the
profession of Company Secretaries in India.
 Vision- To be a global leader in promoting Good
Corporate Governance
 Mission- To develop the high calibre
professionals facilitating good Corporate
Governance
Cost and Work Accountant
 A cost accountant ensure that managerial decisions
are well within the cost prescriptions. He is expected
to give a prognosis for projects to be undertaken
based on past and present financial performances
 Eligibility- 10+2
 Duration- 6 years
Stages in CWA
Foundation
Course
Final
Course
Intermediate
Course
 Pass percentage- Minimum of 40% in each paper
and an aggregate of 50% in all the papers
together.
Foundation Subjects
Financial
Accounting
Fundamentals
(100 Marks)
Management
(70 Marks)
Organisation
(30 Marks)
Organisation &
Management
Fundamentals
Economics &
Business
Fundamentals
Economics
(50 Marks)
Business
Fundamentals
(50 Marks)
Basic Mathematics
& Statistics
Fundamentals
Arithmetic
(15 Marks)
Mensuration
(30 Marks)
Algebra
(25 Marks)
Elementary
Statistics
(30 Marks)
Intermediate Subjects
Applied Direct
Taxation
(100 Marks)
Financial
Accounting
(100 Marks)
Commercial &
Industrial Laws
& Auditing
Commercial &
Industrial Law
(50 Marks)
Auditing
(50 Marks)
Cost &
Management
Accounting
(100 Marks)
Applied
Indirect
Taxes
(100 Marks)
Operation
Management
(50 Marks)
Operation
Management
& Information
Systems
Information
Systems
(50 Marks)
Group IIGroup I
Final Subjects
Strategic Tax
Management
(100 Marks)
Advanced
Financial
Management
And
International
Finance
(100 Marks)
Operations &
Project
Management
And Control
Operations
Management
(50 Marks)
Management
Accounting-
Decision
Making
(100 Marks)
Management
Accounting-
Financial
Strategy &
Reporting
(100 Marks)
Cost Audit
(50 Marks)
Cost and
Management
Audit
Management
Audit
(50 Marks)
Group IVGroup III
Project
Management
(50 Marks)
Strategic
Management
And Marketing
(100 Marks)
Valuation
Management &
Case Study
Valuations
And
Management
(70 Marks)
Case Study
(30 Marks)
 The ICWAI came into being by "The Cost and Works
Accountants Act" a special act passed by the
parliament in 1959 on 28th May 1959
 It specializes in the field of Cost and Management
Accountancy.
 Objective- Promoting, regulating and developing the
profession of Cost Accountancy.
Career Prospects
 Own practice
 Auditing
 Maintenance of cost records
 Employment in private sector as managers,
internal auditor, etc.
Chartered Accountancy
 Accounting, auditing and taxation are the core
areas dealt with by chartered accountants.
 They are also capable of expert level services
in the areas of General Management,
Personnel Management, Financial
Management, Operations Management, HR
Management
Course Structure
Stages in CA
Common
Proficiency
Test
Integrated Professional
Competence Course
(IPCC)
Final
4 subjects-
2 papers 9 subjects
4 papers- group I
3 papers- group II
Articleship +
ITT
Apprenticeship
Under a practicing
CA for 3 years
+
100 hours of
IT training
8 subjects
4 papers- group I
4 papers- group II
General
Management
Course
Compulsory
GMC course
During/ after
Finals
• Academic Qualification- 10+2 or
equivalent as recognised by ICAI
Common Proficiency Test (CPT)
 Pass Marks- To pass/qualify at the examination a
student has to obtain a minimum of 50% marks in all
the papers together.
 Re attempting- Failing to get the pass mark requires
the student to reappear in all the papers again.
 No Exemptions- There are no provisions for
exemptions, even in conditions where the student has
obtained high marks.
 CPT duration is minimum 2 months.
 Each session is of 2 hours.
Subjects
Session IISession I
Mercantile Laws
(40 Marks)
Fundamentals
Of Accounting
(60 Marks)
Quantitative
Aptitude
(50 Marks)
General
Economics
(50 Marks)
Integrated Professional Competence Course (IPCC)
 Pass Marks- Minimum of 40% in each paper and an
aggregate of 50% in all the papers of both the groups
together if attempting both the groups or all the papers
of a single group, A student has to get through both
the groups either at once or separately to be eligible to
go for the next level i.e. Final.
 Exemptions- In cases where the student has
obtained high marks in one or more papers and has
failed the group.
 Minimum duration of IPCC is 9 months.
Subjects in IPCC
Group IIGroup I
Law, Ethics
and
Communication
Advanced
Accounting
(100 Marks)
IT and Strategic
Development
Auditing and
Assurance
(100 Marks)
Information
Technology
(50 Marks)
Strategic
Management
(50 Marks)
Business
Communications
(20 Marks)
Business Ethics
(20 Marks)
Law
(60 marks)
Cost Accounting
And Financial
Management
Cost Accounting
(50 Marks)
Financial
Management
(50 Marks)
Taxation
VAT
(25 Marks)
Service Tax
(25 Marks)
Income Tax
(50 Marks)
Final
 Pass Marks- Minimum of 40% in each paper and an
aggregate of 50% in all the papers of both the groups
together if attempting both the groups or all the papers
of a single group, A student has to get through both
the groups either at once or separately to be eligible to
go for the next level i.e. Final.
 Exemptions- In cases where the student has
obtained high marks in one or more papers and has
failed the group.
 Minimum duration of Finals in 3 years.
Subjects in
Finals
Group I Group II
Corporate &
Allied Laws
Company
Law
(70 Marks)
Strategic
Financial
Management
(100 Marks)
Financial
Reporting
(100 Marks)
Allied Laws
(30 Marks)
Advanced
Auditing and
Professional
Ethics
(100 Marks)
Advanced
Management
Accounting
(100 Marks)
Information
Systems
Control &
Audit
(100 Marks)
Direct Tax
Laws
(100 Marks)
Indirect
Tax
Laws
Central
Excise
(40 Marks)
Service Tax
And VAT
(40 Marks)
Customs
(20 Marks)
 The Institute of Chartered Accountants of India
(ICAI) is a statutory body established under the
Chartered Accountants Act, 1949 (Act No.
XXXVIII of 1949) for the regulation of the
profession of Chartered Accountants in India.
 ICAI now is the second largest accounting body
in the whole world
B.Com/ B.Com (Hons.)
 B.Com is an undergraduate commerce course.
It covers the study of principles of accounting,
micro and macroeconomics, money and
banking systems, economic theory, etc.
 Duration- 3 Years
 Eligibility- 10+2
Job and Employment Prospects
 Employment Prospects:-
1. Import/Export Companies
2. Customs Department
3. Economic Consulting Jobs
4. Finance, Banking Sectors
5. Consulting Firms
 Job Prospects:-
1. Finance Manager
2. Corporate/Business Analyst
3. Executive Assistants
4. Financial/ Investment/ Market Analysts
5. Investments Banker
6. Senior Accountant
7. Operations Manager
8. Money Manager
9. Risk Analysts
Top Commerce Colleges
 SRCC, DU
 St. Xavier’s College, Mumbai
 St. Xavier’s College, Kolkata
 Symbiosis, Pune
 LSR, DU
 St. Joseph’s College, Bangalore
 Presidency College, Chennai
 Hindu College, DU
 Hans Raj College, DU
 Indian Institute of Management & Commerce,
Hyderabad
 Shri Narsee Monjee College of Commerce and
Economics, Mumbai
 Loyola College, Chennai
 BM College, Pune
Other Career Options
 Other than the careers discussed above, there
are careers which can be pursued by a
student from any stream. Some of them are:-
1. Law
2. Hotel Management
3. Indian Administrative Services
Law
 Eligibility- 10+2, CLAT
 Duration- 5 Years, 3 Years, 2 years
 Careers:-
1. Advocate
2. Advocate General
3. Attorney General
4. District Attorney
5. Legal Advisors
6. Magistrate
7. Notary
8. Public Prosecutors
Law Courses
 B.A LL.B (Undergraduate Law Course)
Eligibility- 10+2
50% in all the core subjects and English put together.
 LL.B
 Bachelor of General Law (BGL) / Bachelor of
Academic Law (BAL)
 Master of Law (LLM)
Eligibility- LL.B. degree or its equivalent from a
recognized University
Reputed Law Schools
 Symbiosis Law College, Pune
 Faculty of Law, BHU, Banaras
 University Law College - Bangalore University
 NLSIU Bangalore
 NLIU, Bhopal
 KLE Society’s Law College, Bangalore
 NALSAR, Hyderabad
 Faculty of Law, DU, Delhi
 Lucknow university, Faculty of Law,
Lucknow
 University of Calcutta, Kolkata
 Amity Law School, New Delhi
Hotel Management
 Hospitality management studies provides a focus on
management of hospitality operations including hotels,
restaurants, cruise ships, amusement parks, and
related industries.
 Eligibility- For certificate, diploma and bachelors
courses 10+2 is sufficient.
 Duration-
 Certificate courses- six months to one year.
 Bachelor and diploma courses- 1.5 - 3 years.
 Post graduate diploma courses- 1 year.
 Selection to most government recognised institutes is
Premier Hotel Management Schools
 Some of the premier hotel management schools in
India are:-
1. National Institute of Hotel Management and Catering
Technology
2. Taj Group’s Institute of Hotel Management (IHM),
Aurangabad
3. WelcomGroup’s Graduate Hotel Administeration
School, Manipal
4. STEP- Oberoi Center for Learning and Development
1. Indian Institute for Hotel Management (IIHM),
Kolkata
2. Instittue for International Management and
Technology (IIMT), Gurgaon
3. Federation of Hotel and Restaurant
Associations of India (FHRAI),Greater Noida
4. Banarasidas Chandiwala Institute of Hotel
Management (IP university)
Jobs and Prospects in Hotel Management
 Jobs:-
1. Manager
2. Front Office
3. Food and Beverages
4. Housekeeping
5. Restaurant Managers
6. Executive Housekeeper
7. Marketing Department
 Prospects- Besides working in hotels, there are other areas
where hotel management is required
1. Restaurant Management
2. Club Management/Recreation & Health Centre Management
3. Cruise Ship Hotel Management
4. Hospital Administration and Catering
5. Institutional and Industrial Catering
6. Airline Catering and Cabin Services
7. Catering Departments in banks and insurance houses
8. With government owned catering departments, for example
railway, armed forces, ministerial conventions, etc.
Indian Administrative Services
 The Indian Administrative Service (IAS) is
the administrative civil service of the
Government of India.
 The officers of the IAS play a major role in
managing the bureaucracy of both the Union
Government and the State governments, with
its members holding strategic posts across the
country.
 Eligibility-
1. A citizen of India
2. A candidate must have attained the age of 21 years
and must not have attained the age of 30 years.
3. A degree with any recgonised university.
 Test Pattern-
1. Civil Services Aptitude Test
2. Main Test
3. Interview
Job Prospects
1. Depending upon his rank, a candidate is recruited to
services such as the Indian Administrative Service
(IAS), Indian Police Service (IPS), Indian Foreign
Service (IFS) and other departments including
Finance, Post and Telegraph, Revenue, Secretariat
and so on.
2. The appointment offers executive power.
3. Promotions are time bound and increase in privileges
are automatic.
Sources
 www.futureaccountant.com
 www.icai.org
 www.actuariesindia.org
 www.icwai.org
 www.icsi.edu
 www.google.com
 www.careerlauncher.com
 www.career.webindia123.com
 www.targetstudy.com
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Career options in commerce

  • 1. Career Options In Commerce
  • 2. Acknowledgements  I would like to convey my sincere thanks to my Economics teacher, Mrs. Poonam Goel who helped me choose the topic and gave me some valuable inputs. I also thank her for her motivation and guidance during the project and during my studies in general.
  • 3. Why Commerce?  Contrary to the perception, careers in commerce provide a high earning and a respectable job.  Students interested in numbers and the financial aspect of life should choose commerce.  For most part of studies, commerce requires common sense and logic instead
  • 4. Various Career Options  Today, there are a wide range of topics to choose from to pursue a career as compared to few years ago. Some of them specific to the stream of commerce are :- 1. Actuarial Science 2. Company Secretary 3. Cost and Work Accountant 4. Chartered Accountancy
  • 5. Actuarial Science  An actuary is an expert in assessing the financial impacts of tomorrow’s uncertain events. They enable more informed decisions.  Eligibility :- 1. Should have completed 18 years of age 2. Should have attained anyone of the following Educational Standards-  Passed 10+2 or equivalent with at least 85% in Mathematics / Statistics  Graduate or Post Graduate in Mathematics/Stats/Econometrics  Any Engineer / CA / CS / MBA (Finance) / MCA  Fully qualified members of following Professional bodies such as :-  The Institute Of Chartered Accountants of India (ICAI)  The Institute of Cost and Works Accountant of India (ICWAI)  The Institute of Financial Analyst of India (IFAI)  The Insurance Institute of India (III) passing with subjects 81- mathematical Basis of Insurance and 82- Statistics. 3. An application should be recommended by a member of professional body like such as ICAI, ICWAI and ICSI.
  • 6.  Core Technical Stage- 8 compulsory papers (CT1-CT8) with one paper of 100 marks  Core Application Stage- 2 compulsory subjects (CA 1 to CA3), CA1 consists of two papers whereas CA2 and CA3 shall have one paper each.  Specialist Technical Stage- 6 papers (ST1 to ST6) and the students have to choose any two.  Specialist Application Stage- 6 papers (SA1 to SA6) and the Specialist Application Stage Stages Of Examination Core Application Stage Specialist Technical Stage Core Technical Stage
  • 7.  Future Prospects: 1. Insurance companies [be it private or public- life or general] 2. Firm of Consulting Actuaries 3. Authorities like IRDA, PFRDA & TAC. 4. Asset liability Management Companies 5. Large banks and Investment Firms like World Bank, ADB, etc 6. Pension Banks and Employee Benefit Companies- likely to be opened in India soon. 7. Large Capital & Turnkey Project Handling Companies 8. Software Development Companies 9. Actuarial BPO Companies
  • 8. 1. In addition to the above, employment opportunities are expected to arise in future in the offices of: 2. Insurance Intermediates 3. Pension Providers other than insurance companies. 4. Education Institution (Providing Courses on Finance & Actuarial Science) 5. Re-insurances
  • 9. Institute of Actuaries of India  Institute of Actuaries of India (IAI) is a statutory body established under The Actuaries Act 2006 (35 of 2006) for regulation of profession of Actuaries in India.  It is a member of the umbrella body International Actuarial Association
  • 10. Objectives 1.Advancement of the Actuarial profession in India. 2.Providing opportunities for interaction among members of the profession. 3.Facilitating research, arranging lectures on relevant subjects. 4.Providing facilities and guidance to those studying for the Actuarial exams.
  • 11. Company Secretary  A CS is a person who is:- 1. An expert in corporate laws, securities laws & capital market and corporate governance. 2. Chief advisor to the board of directors on best practices in Corporate Governance. 3. Responsible for all regulatory compliances of company. 4. Corporate planner and strategic manager. Stages in CS ProfessionalFoundation Executive
  • 12. Foundation Programme  Eligibility:-  10+2 or equivalent  Provisional admission is allowed to a candidate who has appeared or enrolled for appearing in Senior Secondary (10+2 or equivalent) examination , provided proof of passing the examination is produced within 6 months of making the application.  Admission- Making an application in the prescribed Form FC-1 together with documentary evidence in support of date of birth and educational qualification.  Duration- 8 months, excluding the months of admission and the examination. # Students are required to pass the Foundation examination within 3 years from the date of their admission
  • 13. Foundation Subjects Elements of Business Laws And Management Economics And Statistics Financial Accounting (100 Marks) Business Communication (50 Marks) English (50 Marks) Statistics (50 Marks) Economics (50 Marks) Elements of Business Laws (50 Marks) Elements of Management (50 Marks) English and Business Communication
  • 14. Executive Programme  Registration Period:- 1. Five years from the month in which his application, complete in all respects, is accepted for registration. 2. A registered student is required to complete the Executive and the Professional examination within the registration period. Subjects Module IIModule I General & Commercial Laws Company Accounts and Cost & Management Accounting Tax Laws Company Law Economic And Labour Laws Securities Laws and Compliances $ All papers are of 100 marks
  • 15. Professional Programme  Eligibility- Passing the Executive Programme examination. Subjects Module IVModule II Module IIIModule I Drafting, Appearances & Pleadings Company Secretarial Practice Restructuring And Insolvency Financial, Treasury & Forex Management Advanced Tax Laws and Practice Module Strategic Management, Alliances and International Trade Due Diligence & Corporate Compliance Management Governance, Business Ethics And Sustainability $ All papers are of 100 marks
  • 16. Future Prospects  Employment :  Companies with a paid up share capital of Rs.5 crores or more are compulsorily required to appoint a whole time Company Secretary who is a Member of ICSI  All companies seeking listing on Stock Exchange are required to appoint a whole time company secretary  Membership of the Institute is recognized for appointment to superior posts and services under Central Government.  Self-Employment  After obtaining a ‘Certificate of Practice’ from the Institute, members of the Institute can go in for Independent Practice.
  • 17.  The Institute of Company Secretaries of India is constituted under an Act of Parliament i.e. the Company Secretaries Act, 1980 (Act No. 56 of 1980). ICSI is the only recognized professional body in India to develop and regulate the profession of Company Secretaries in India.  Vision- To be a global leader in promoting Good Corporate Governance  Mission- To develop the high calibre professionals facilitating good Corporate Governance
  • 18. Cost and Work Accountant  A cost accountant ensure that managerial decisions are well within the cost prescriptions. He is expected to give a prognosis for projects to be undertaken based on past and present financial performances  Eligibility- 10+2  Duration- 6 years Stages in CWA Foundation Course Final Course Intermediate Course
  • 19.  Pass percentage- Minimum of 40% in each paper and an aggregate of 50% in all the papers together. Foundation Subjects Financial Accounting Fundamentals (100 Marks) Management (70 Marks) Organisation (30 Marks) Organisation & Management Fundamentals Economics & Business Fundamentals Economics (50 Marks) Business Fundamentals (50 Marks) Basic Mathematics & Statistics Fundamentals Arithmetic (15 Marks) Mensuration (30 Marks) Algebra (25 Marks) Elementary Statistics (30 Marks)
  • 20. Intermediate Subjects Applied Direct Taxation (100 Marks) Financial Accounting (100 Marks) Commercial & Industrial Laws & Auditing Commercial & Industrial Law (50 Marks) Auditing (50 Marks) Cost & Management Accounting (100 Marks) Applied Indirect Taxes (100 Marks) Operation Management (50 Marks) Operation Management & Information Systems Information Systems (50 Marks) Group IIGroup I
  • 21. Final Subjects Strategic Tax Management (100 Marks) Advanced Financial Management And International Finance (100 Marks) Operations & Project Management And Control Operations Management (50 Marks) Management Accounting- Decision Making (100 Marks) Management Accounting- Financial Strategy & Reporting (100 Marks) Cost Audit (50 Marks) Cost and Management Audit Management Audit (50 Marks) Group IVGroup III Project Management (50 Marks) Strategic Management And Marketing (100 Marks) Valuation Management & Case Study Valuations And Management (70 Marks) Case Study (30 Marks)
  • 22.  The ICWAI came into being by "The Cost and Works Accountants Act" a special act passed by the parliament in 1959 on 28th May 1959  It specializes in the field of Cost and Management Accountancy.  Objective- Promoting, regulating and developing the profession of Cost Accountancy.
  • 23. Career Prospects  Own practice  Auditing  Maintenance of cost records  Employment in private sector as managers, internal auditor, etc.
  • 24. Chartered Accountancy  Accounting, auditing and taxation are the core areas dealt with by chartered accountants.  They are also capable of expert level services in the areas of General Management, Personnel Management, Financial Management, Operations Management, HR Management
  • 25. Course Structure Stages in CA Common Proficiency Test Integrated Professional Competence Course (IPCC) Final 4 subjects- 2 papers 9 subjects 4 papers- group I 3 papers- group II Articleship + ITT Apprenticeship Under a practicing CA for 3 years + 100 hours of IT training 8 subjects 4 papers- group I 4 papers- group II General Management Course Compulsory GMC course During/ after Finals • Academic Qualification- 10+2 or equivalent as recognised by ICAI
  • 26. Common Proficiency Test (CPT)  Pass Marks- To pass/qualify at the examination a student has to obtain a minimum of 50% marks in all the papers together.  Re attempting- Failing to get the pass mark requires the student to reappear in all the papers again.  No Exemptions- There are no provisions for exemptions, even in conditions where the student has obtained high marks.  CPT duration is minimum 2 months.  Each session is of 2 hours.
  • 27. Subjects Session IISession I Mercantile Laws (40 Marks) Fundamentals Of Accounting (60 Marks) Quantitative Aptitude (50 Marks) General Economics (50 Marks)
  • 28. Integrated Professional Competence Course (IPCC)  Pass Marks- Minimum of 40% in each paper and an aggregate of 50% in all the papers of both the groups together if attempting both the groups or all the papers of a single group, A student has to get through both the groups either at once or separately to be eligible to go for the next level i.e. Final.  Exemptions- In cases where the student has obtained high marks in one or more papers and has failed the group.  Minimum duration of IPCC is 9 months.
  • 29. Subjects in IPCC Group IIGroup I Law, Ethics and Communication Advanced Accounting (100 Marks) IT and Strategic Development Auditing and Assurance (100 Marks) Information Technology (50 Marks) Strategic Management (50 Marks) Business Communications (20 Marks) Business Ethics (20 Marks) Law (60 marks) Cost Accounting And Financial Management Cost Accounting (50 Marks) Financial Management (50 Marks) Taxation VAT (25 Marks) Service Tax (25 Marks) Income Tax (50 Marks)
  • 30. Final  Pass Marks- Minimum of 40% in each paper and an aggregate of 50% in all the papers of both the groups together if attempting both the groups or all the papers of a single group, A student has to get through both the groups either at once or separately to be eligible to go for the next level i.e. Final.  Exemptions- In cases where the student has obtained high marks in one or more papers and has failed the group.  Minimum duration of Finals in 3 years.
  • 31. Subjects in Finals Group I Group II Corporate & Allied Laws Company Law (70 Marks) Strategic Financial Management (100 Marks) Financial Reporting (100 Marks) Allied Laws (30 Marks) Advanced Auditing and Professional Ethics (100 Marks) Advanced Management Accounting (100 Marks) Information Systems Control & Audit (100 Marks) Direct Tax Laws (100 Marks) Indirect Tax Laws Central Excise (40 Marks) Service Tax And VAT (40 Marks) Customs (20 Marks)
  • 32.  The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the profession of Chartered Accountants in India.  ICAI now is the second largest accounting body in the whole world
  • 33. B.Com/ B.Com (Hons.)  B.Com is an undergraduate commerce course. It covers the study of principles of accounting, micro and macroeconomics, money and banking systems, economic theory, etc.  Duration- 3 Years  Eligibility- 10+2
  • 34. Job and Employment Prospects  Employment Prospects:- 1. Import/Export Companies 2. Customs Department 3. Economic Consulting Jobs 4. Finance, Banking Sectors 5. Consulting Firms
  • 35.  Job Prospects:- 1. Finance Manager 2. Corporate/Business Analyst 3. Executive Assistants 4. Financial/ Investment/ Market Analysts 5. Investments Banker 6. Senior Accountant 7. Operations Manager 8. Money Manager 9. Risk Analysts
  • 36. Top Commerce Colleges  SRCC, DU  St. Xavier’s College, Mumbai  St. Xavier’s College, Kolkata  Symbiosis, Pune  LSR, DU  St. Joseph’s College, Bangalore
  • 37.  Presidency College, Chennai  Hindu College, DU  Hans Raj College, DU  Indian Institute of Management & Commerce, Hyderabad  Shri Narsee Monjee College of Commerce and Economics, Mumbai  Loyola College, Chennai  BM College, Pune
  • 38. Other Career Options  Other than the careers discussed above, there are careers which can be pursued by a student from any stream. Some of them are:- 1. Law 2. Hotel Management 3. Indian Administrative Services
  • 39. Law  Eligibility- 10+2, CLAT  Duration- 5 Years, 3 Years, 2 years  Careers:- 1. Advocate 2. Advocate General 3. Attorney General 4. District Attorney 5. Legal Advisors 6. Magistrate 7. Notary 8. Public Prosecutors
  • 40. Law Courses  B.A LL.B (Undergraduate Law Course) Eligibility- 10+2 50% in all the core subjects and English put together.  LL.B  Bachelor of General Law (BGL) / Bachelor of Academic Law (BAL)  Master of Law (LLM) Eligibility- LL.B. degree or its equivalent from a recognized University
  • 41. Reputed Law Schools  Symbiosis Law College, Pune  Faculty of Law, BHU, Banaras  University Law College - Bangalore University  NLSIU Bangalore  NLIU, Bhopal
  • 42.  KLE Society’s Law College, Bangalore  NALSAR, Hyderabad  Faculty of Law, DU, Delhi  Lucknow university, Faculty of Law, Lucknow  University of Calcutta, Kolkata  Amity Law School, New Delhi
  • 43. Hotel Management  Hospitality management studies provides a focus on management of hospitality operations including hotels, restaurants, cruise ships, amusement parks, and related industries.  Eligibility- For certificate, diploma and bachelors courses 10+2 is sufficient.  Duration-  Certificate courses- six months to one year.  Bachelor and diploma courses- 1.5 - 3 years.  Post graduate diploma courses- 1 year.  Selection to most government recognised institutes is
  • 44. Premier Hotel Management Schools  Some of the premier hotel management schools in India are:- 1. National Institute of Hotel Management and Catering Technology 2. Taj Group’s Institute of Hotel Management (IHM), Aurangabad 3. WelcomGroup’s Graduate Hotel Administeration School, Manipal 4. STEP- Oberoi Center for Learning and Development
  • 45. 1. Indian Institute for Hotel Management (IIHM), Kolkata 2. Instittue for International Management and Technology (IIMT), Gurgaon 3. Federation of Hotel and Restaurant Associations of India (FHRAI),Greater Noida 4. Banarasidas Chandiwala Institute of Hotel Management (IP university)
  • 46. Jobs and Prospects in Hotel Management  Jobs:- 1. Manager 2. Front Office 3. Food and Beverages 4. Housekeeping 5. Restaurant Managers 6. Executive Housekeeper 7. Marketing Department
  • 47.  Prospects- Besides working in hotels, there are other areas where hotel management is required 1. Restaurant Management 2. Club Management/Recreation & Health Centre Management 3. Cruise Ship Hotel Management 4. Hospital Administration and Catering 5. Institutional and Industrial Catering 6. Airline Catering and Cabin Services 7. Catering Departments in banks and insurance houses 8. With government owned catering departments, for example railway, armed forces, ministerial conventions, etc.
  • 48. Indian Administrative Services  The Indian Administrative Service (IAS) is the administrative civil service of the Government of India.  The officers of the IAS play a major role in managing the bureaucracy of both the Union Government and the State governments, with its members holding strategic posts across the country.
  • 49.  Eligibility- 1. A citizen of India 2. A candidate must have attained the age of 21 years and must not have attained the age of 30 years. 3. A degree with any recgonised university.  Test Pattern- 1. Civil Services Aptitude Test 2. Main Test 3. Interview
  • 50. Job Prospects 1. Depending upon his rank, a candidate is recruited to services such as the Indian Administrative Service (IAS), Indian Police Service (IPS), Indian Foreign Service (IFS) and other departments including Finance, Post and Telegraph, Revenue, Secretariat and so on. 2. The appointment offers executive power. 3. Promotions are time bound and increase in privileges are automatic.
  • 51. Sources  www.futureaccountant.com  www.icai.org  www.actuariesindia.org  www.icwai.org  www.icsi.edu  www.google.com  www.careerlauncher.com  www.career.webindia123.com  www.targetstudy.com