5 Major Challenges of a CA Professional

Chartered Accountant is a job profile which is lucrative owing to the money as well as professional growth avenues it opens. With the ease of doing business increasing steadily in the recent past, the number of start-ups and SMBs is gradually increasing which in turn has increased the demand for CA professionals around the globe. Though the CAs are high in demand and every year millions of students are graduating and enrolling in CA courses in Kerala, there are various challenges that should be understood well by all the aspirants to have a better understanding of their careers and lives as the CA Professionals. The following post will be highlighting the major challenges encountered by the CA Professionals and the best CA courses in Kerala that will help you prepare for these challenges ahead.

CA Professionals – Challenges that lie ahead:

1.Constantly updated top-notch knowledge base:

Though there are thousands of CAs that are absorbed every year, before you get persuaded to enroll in the classes for CA coaching in Kochi, it is important to understand that it is of extreme importance to stay informed of all the changes, introductions and amendments of Tax Reforms and other such regulations introduced by the Government from time to time. You just can’t rely on your sources and internet for instantaneous learning. Proper learning and knowledge acquiring are good, but regular updates and consistent improvement is what keeps your career going up always.

2.Training Matters:

One of the most determining challenges faced by the CAs is the difference between the level of training and real-world work scenario. It is of utmost importance that the CA courses in Kerala that you took assisted you in finding the most relevant and best source for the training as per your interests and mettle. If you idle away the time, then you can forget about opening your own practice one day because you will be ending up with zero professional knowledge of accounting and financial consulting in the real world.

3.Growth and Sector Specialization:

CA professionals have to make an extra effort and keep their working arena diverse and high-cadre to ensure that career grows and they don’t get lured into the shiny web of sector specialization. The sector-specialization can harm your growth and limit your professional career prospects. The reputed and the best institutes for CA Coaching in Kochi offer counselors and guides to help you steer your career in the rightmost direction and can also help you in finding new clients with proper training and mindset development.

4.Sensitive Exposure:

The CAs are always in the risk zone because they have access to some of the most sensitive and highly-confidential data and transactions of a company. In fact, if you are working for a big corporation or MNCs at a respected designation, then you will be having all the dirt on them in your hands and at your mercy. In such situations, it is of extreme consequence to guard the information and don’t let the beans spill as this might lead to huge fiascos and professional setbacks.

5.Degrees, Courses, and Certifications:(h2)

Earlier, CA used to be the ‘IT’ thing of the financial and accounting world. But, the times and requirements have changed now and people are requiring talent armed with a thorough knowledge of modern day technology; understanding of vast areas of accounting and of course, a backing of some gold standard certification. There are various names and brands that make your CV look good such as CMA, Company Secretary, and ACCA etc that not only open the avenues of jobs abroad but also help you in keeping your skills diversified and your pay cheques FAT!!

However, it goes without saying that these degrees and certifications will demand serious inputs in terms of time, money and efforts. So, be prepared!!

Some other challenges that are waiting for you after the course completion are:

  • Personal Issues:
    The CAs have to work overtime; they might have to neglect their health and rely on the caffeine and drinks for kick-starting their nerves; they generally tend to opt for high-paying immoral clients for making quick money and might also lose their independence all the while trying to do shady finance management and consulting.
  • Constant Pressure to excel and stay ahead in the game
  • Exploring the career abroad or keep sailing in your mainland
  • Finding out the best CA courses in Kerala that can help you ace your exams and careers side by side.

How to deal with these challenges??

Having read the pain-points, let us understand how to deal with them. Choosing a right CA Coaching in Kochi will obviously help. Proper professional manner of preparation and training; expert guidance from the counselors and teachers; an environment that aids in learning; an institute with connections in various top-tier CA absorption channels so as to guarantee placements and higher study guidance – all these calls for a career that shines and a professional that excels.

The Logic School of Management is the best institute that provides all kinds of coaching and CA Final Coaching Classes in Ernakulam. To know more, please visit www.logiccpacma.com.

Everything you Need to Know about Certified Management Accountant (CMA)

So you aspire to become a Certified Management Accountant (CMA)? Still unsure about how to get started? Here are the details you should know before joining CMA training.

Opting for the CMA program is a great move to make your career thriving in management accounting. However, before getting into it, it is desirable to know everything about the course, qualification, eligibility, exam pattern, salary and the career prospects. To know everything about CMA, you need not go anywhere else; just relax and continue reading. By the end of it, you will get answers to all your queries related to CMA certification.

IMA Membership

The very first thing you need to obtain CMA certification is getting the membership in IMA. To acquire CMA certification IMA (Institute of Management Accountants) membership is a must. This is the crucial step every candidate fails to notice assuming that they can just sign up and attend the CMA Exam. The are two types of membership, student and professional. Also, the candidate needs to pay an annual IMA membership fee before entering into the program.

Requirements to get a CMA Certification

Apart from getting the IMA membership, candidates must meet other eligibility requirements including:

  • A bachelor’s degree from an accredited university/college or a related professional certification.
  • Pass the two parts of CMA exam
  • Two years of professional experience in management accounting or financial management.

You are allowed to join IMA and attend and pass the exam before completing these requirements. However, you will get the certification once you complete your bachelor’s degree and two years of professional experience. The CMA program lets you complete the course at your own pace. You may earn the CMA certification in six months or within 3 years of registration for CMA.

CMA Exam

Logic School of Management provides the best CMA USA classes in India to get over the exam hurdles. The two-part CMA Exam is entirely computer-based with four hours for each part. It’s 75 % Objective (100 questions) and 25% descriptive with no negative marks.

The part I of CMA exam focuses on the following syllabus.

  • External financial reporting decisions
  • Planning, budgeting and forecasting
  • Performance management
  • Cost management
  • Internal control

Part 2 of the CMA Exam focuses on the following areas

  • Financial statement analysis
  • Corporate finance
  • Decision analysis
  • Risk management
  • Investment decisions
  • Professional ethics

CMA Exams are computer-assisted and are conducted by prometric facility which has centres all across the world. Though you are supposed to schedule your CMA exams at least 72 hours prior, it would be better to schedule the exams four weeks in advance. The candidates are supposed to attend the exams in the following months.

January and February
May and June
September and October

Career Prospects after CMA Certification

Obtaining a CMA certification requires a substantial amount of effort and time. So before entering into the CMA program, take a moment to check how CMA is going to help you in your career development. Also, check whether this qualification is best suitable for your career, considering your education background and aspiration. However, getting a CMA certification opens a lot of career opportunities both in the domestic as well as the global job market. By enhancing your skills in finance, accounting and management, CMA certification entitles you to expand your career prospects. Also, you can accept job roles including Financial Analyst, Financial Risk Manager, Finance Manager, Financial Controller, Relationship Manager, Cost Accountant, Cost Manager etc.  

Salary of a CMA Professional

Just like any other job, the salary of CMA also depends on certain factors such as the designation, company size, years of experience etc. Bigger the company, the higher the salary will be. After completing a few years, it’s certain that you will be able to get a big amount as payment. No worries! Once you are awarded the CMA certification, you can expand your career and there will be no looking back.

Becoming a CMA will definitely help you increase your earnings and your corporate accounting career with greater prospects. With CMA certification, about 80% of the accounting professionals work in management accounting, financial accounting and various other sectors of accounting jobs.

Thinking about training institutes to help you join CMA and pass the exam? Don’t worry; a lot of institutes in India provide good coaching for CMA candidates. If you are looking for the best CMA training, get in touch with Logic School of Management, the leading training institute which offers training in CMA, ACCA, CA, CPA and other accounting courses. Logic School is renowned for its best CMA training in Calicut, Cochin and other major cities of Kerala. Don’t be late! Locate your nearest CMA training institute and prepare for the CMA exam in a time-efficient manner.