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Commerce stream. Chartered Accountant Chartered Accountants deal with the management of money and provide financial advice. They maintain records of financial.

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Presentation on theme: "Commerce stream. Chartered Accountant Chartered Accountants deal with the management of money and provide financial advice. They maintain records of financial."— Presentation transcript:

1 Commerce stream

2 Chartered Accountant Chartered Accountants deal with the management of money and provide financial advice. They maintain records of financial transactions which every organization is required to keep by law and also carry out company audits. Salary: 2.67 Lakhs to 14 Lakhs per annum Std XII Stream: Science, Commerce Career Interest: Business, Clerical

3 Job Profile Chartered Accountants are members of the Institute of Chartered Accountants of India. They work in private practice or in the accounts department of firms and organisations. The range of work in private practice can vary enormously according to the size and place (city) of practice. If it is a large practising firm there is greater specialisation of individual accountants within the organization. Computers are widely used in accounting and auditing. Accountants summarize transactions in standard formats for financial records, calculate projected financial ratios, or organize data in special formats for financial analysis.

4 Accountants may be involved in any of the following tasks: Financial accounting Financial accounting deals with keeping financial records. The job involves interpreting accounts, supervising, controlling and organising expenditure and income, etc. It includes compiling daily, monthly and yearly management accounts. The tasks are: Operating accounts Carrying out internal audits Dealing with wages and salaries Paying accounts and sending out invoices Managing tax

5 Auditing Statutory audits are required as per the Company Act by both the private and public sector. CAs carry out internal audit to keep track of management procedures and internal controls and ensure that records are accurate and controls are appropriate. They review compliance with corporate policies and procedures. Tax auditors review financial records and other information provided by taxpayers to determine the appropriate tax liability. Government departments have tax auditors who may be appointed to audit the taxpayers accounts.

6 Cost accounting Cost accounting deals with the complex business of working out what particular operations, jobs, products really cost to produce. It extends to Budgeting and budgetary control Forecasting Monitoring expenditure to see that costs are not over- shooting

7 Tax management CAs specialise as tax managers and assist in optimising the firm's financial structure. They look at the tax implications of new plans, changes in company structures, in fact any major decision. They advise on the tax effect of performance goals.

8 Management accounting Management Accounting is a task senior chartered accountants perform. They collect, organise, collate and analyse information from all parts of the organization. Make regular critical analysis of past and present financial performance Make projections for the future.

9 Consultancy Consultancy is a challenging opening for bright and ambitious young CAs. Business today needs right information related to accounting. Consultant's functions relate to the following areas : Corporate law advice regarding company formation and structure, liquidation and financial aspects Project planning and advice on financial resource Investigation of share valuation for takeovers, issue of capital shares, amalgamation with other firms. Business advice regarding expansion, profit analysis, profit improvement, joint venture programmes, etc. Secretarial practice and procedures. Information Systems management

10 CA in the industry In the industry CAs are generally found in the higher positions of the accounting department and in the finance division at all levels. Besides the regular role CAs are involved with planning and financial strategies, preparing prospectuses for share issues, managing pension funds and long-term investments, investigation of prospective investments, merger or takeover.

11 Skills required A disciplined attitude for hard work Good understanding of socio-economic environment in which organisations operate Numerical ability Logical and methodical approach Ability to take stress Attentive to detail Ability to deal with different types of people Necessary skills in applying theoretical knowledge to practical situations Ethical values Analytical mind Good verbal and written expression Business acumen Patient and industrious

12 Independent professional practice Chartered Accountants firm Capital market services Business houses and industry Consultancy firms Large organizations and institutions Financial Institutions There are over 78,000 members of the Institute of Chartered Accountants,70% of whom work in public practice and the remaining are engaged in services in trade and industry. Employment Opportunities

13 Earnings 2.67 Lakhs to 14 Lakhs per annum (Salary data sourced from PayScale.com) Earnings Details Chartered Accountants earnings depend on the position in a company. The average income could range from Rs 60,000 to Rs 1.8 lakhs per month. At senior level the sky is the limit.

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16 All students aspiring to become Chartered Accountants must register for Integrated Professional Competence Course (IPCC) with the Institute of Chartered Accountants of India. * (CPT)Common Proficiency Test is held in Common Proficiency Test examinations are held in June & December every year. ** Along with the Professional Competence Course (PCC) students must register for articled training of a period of three and half years. After 3 months of article ship students have to register and undergo 100 Hours Information Technology Training. After successful completion of 100 Hours of Information Technology Training and also completion of 15 months of articled training (as on 1st February/1st August for appearing in May/November Examination or 18 months of articled training as on 1st May/November). *** On the successful completion of nine months training, they can appear for the IPCC Integrated Professional Competency Exam. They will also have to complete the 100 hours of Information Technology Training Course and 35 hours of orientation course.

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18 Cost accountant Cost accountants are also known as management accountants. They collate and analyze all financial information for use by the management of the organization they work for. Their work is specifically meant for internal use. Std XII Stream: Science, Commerce Career Interest: Business, Clerical

19 Job Profile Cost Accountants Collect, organize, collate and analyze internal and financial information for evaluating, critical analyses and regulating past and present financial performance and for making projections for the future Monitor costs of raw materials, labor, transportation, administrative costs, overheads etc. in an industry Analyze sales trends. Cost audit to assess company's past performance, current product profile and for giving advise on product pricing. Monitor performance and efficiency to locate and report on problems Advise ways of economizing by analyzing costs and implications of different production methods. Control the budget Prepare regular cost reports Help develop a competitive edge in products quality, customer service, brand image etc. for maximization of profits. May act as Executors or Administrators, Appraisers, Secretarial consultants, Tax consultants, Advisors in company matters, mergers, acquisitions Prepare feasibility studies of projects.

20 Skills required Analytical mind An eye for detail Awareness of global business and economic environment Responsibility Good business judgment An objective outlook Team Player Commitment resilience

21 Employment Opportunities Management of Public & Private sector enterprises Financial Institutions All India Cost Accounts Service (ICAS) Teaching Consultancy. Independent practice Top Recruiting Companies All India Cost and Management Accountants Society Management accounting portal Expert in Management Accounting,

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23 Where to study? Prestigious Institutes in India Prestigious Institutes Institute of Cost and Work Accountants

24 Credit Analyst Credit analysts are finance professionals who analyze credit data and financial statements and banking details etc. to estimate and evaluate the risk in lending money to individuals or businesses. Std XII Stream: Science, Commerce Mandatory Subject: Mathematics Career Interest: Business, Clerical

25 Job Profile Business Credit Analysts Evaluate risks in disbursing business loans. Study the assets and liabilities statements, profits and losses, and net sales. May conduct an on site evaluation of clients business vis-à-vis competitors. Discuss with the bank or financial institution about their dealings with the client. Evaluate security of the client’s business based on the management activity, economic status, and potential growth. Provide a complete report of their findings to the bank. Approve loans for the client after due analysis of risks. Prepare the documents related to disbursement of loans. Guide the client through the application process. Constantly study market and economic trends. Consumer Credit Analyst Analyze personal loan risks. Study credit history, assets and liabilities Do background check for financial status and compliance. Provide details to the bank

26 Skills Required Good Mathematical skill Computing skills Adept at organizing, analyzing and reporting data Strong interpersonal skills Skills in working with details and numbers Interest in Marketing activity Good Communication skill Problem solving skill Good interviewing skills

27 Employment Opportunities Banks Corporates Industries Investment Banks Financial Institutions Insurance companies Government loan divisions Credit rating agencies Fixed income domain Private equity firms

28 Recruiting Companies Barclays Shared Services Private Ltd. Wells Fargo, India Credit Analysis and Research Ltd (CARE) GKC India Honeywell, Bangalore Eaton Corporation,Pune

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30 Where to study? Prestigious Institutes in India Prestigious Institutes Hindustan Electronics Academy Indian Institutes of Management

31 Finance Manager Financial managers prepare financial reports, advise on investments and are involved in financial management strategies and planning for business viability. Salary: 4.02 Lakhs to Lakhs per annum Std XII Stream: Science, Commerce Mandatory Subject: Maths

32 Job Profile Financial Managers Manufacturing, communications, finance, education, or health care sectors employ one or more financial managers. The positions are of treasurer, controller, credit manager, cash manager, and others who are responsible for preparing financial reports to meet tax and other regulatory demands. Finance Managers Oversee the flow of cash and finances. Develop information to assess the present and future financial status of the firm. Planning and controlling the flow of funds within and outside of the organization. Work with top management to arrange for long term finance.

33 Develop financial and economic policy, establish procedures, delegate authority, and oversee the implementation of these policies. Set up budgetary systems, financial services and make appraisals of the adequacy of accounting methods. Maintain liaison with banking personnel, financial institutions, treasury officials for sourcing funds, and control financial activities. Plan, coordinate and manage the financial operation for diversification of business operations. Investment analysis Source funds, issue management and viable project investments for success of a project.

34 Merchant Bankers Manage new issues, credit syndication, government consent, accept fixed deposits from companies and manage portfolios. Assess, source funds and promote projects. Advise corporates on issues which are related to capital markets, investments, management, government or concerning portfolios of individuals or societies. Act as financial intermediaries for the transfer of capital from the investor to the investment firm.

35 Equity Analyst Carry on equity research and analysis used for guiding investment decisions. Offer objective assessment of investment plans. Conduct financial statement and cash flow analysis Estimate supply and demand and also make profit predictions.

36 Portfolio Managers Understand the securities market Guide clients in portfolio selection Carry out economic, industrial and company analysis measuring earnings, and forecasting earnings Carry out bond analysis and strategies, performance evaluation and investment management

37 Treasury Managers Treasury and foreign exchange function involves have assumed importance with the increase in flow of foreign exchange from foreign markets into India. The treasury profit centres depend upon the treasury managers skills in Financial forecasting Financial management and Assessment of cost of currency funds

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39 Employment Opportunities Finance managers work for large national and multinational business and trading firms, finance and leasing companies, banks, and consultancies. In large organizations finance managers function is to handle separate sections e.g manager in-charge costing, business manager, commercial manager, manager indirect and direct taxation etc. Treasury Managers work for national and international banks, corporate and financial institutions

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42 Where to study? Prestigious Institutes in India

43 Corporate Lawyer Corporate lawyers advise corporations and businesses regarding legal aspects of running a business. They advise regarding the corporate rights, privileges and obligations. Std XII Stream: Science, Commerce, Humanities/Arts Career Interest: Business, Clerical

44 Job Profile Corporate lawyers Study constitutional provisions, statutes and previous court judgments with regard to corporate disputes Study and keep a record of laws and ordinances passed and the decisions of quasi-judicial bodies that work in the corporate domain. They advise the corporate regarding judicial proceedings, both for defense and prosecution cases. Handle legal work and represent the corporate with court proceedings. Advise the corporate in a range of transactions, such as acquisitions and mergers, to protect the corporate from legal default. They advise the company's management during meetings with business partners, shareholders or clients.

45 Skills Required Good communication skills Numerical ability Business awareness Responsibility Analytical skills Researching skills Confidientially

46 Employment Opportunities Corporate & Industries Legal Publishers Consultancies Newspapers and business magazines Universities law departments Public Sector Units

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50 Activities on the internet are governed by cyber laws. Cyber lawyers are equipped to interpret and enforce cyber laws to regulate activities in cyberspace. Std XII Stream: Science, Commerce, Humanities/Arts Career Interest: Business, Clerical Cyber Lawyer

51 job profile Cyber lawyers Interpret cyber laws to their clients Conduct due diligence i.e ensure that any security obligations agreed to in a contractual agreement are not breached, identify sensitive personal information etc. Conduct Audit Draft Best Security Practices and check Compliance Certify Income Tax Act Compliance Compliance of the Security & Exchange Board Provide e-documentation services Carry out process-specific solutions in areas like Legal Process Outsourcing, e-Publishing, e-commerce, Software Services, Audit & Compliance. Deal with cases related to credit card frauds, internet hacking, cyber stalking, pornography, cyber threats and crimes related to Intellectual Property, Copyrights & Trademarks.

52 Employment Opportunities Consultancies IT firms Banks Police and investigative agencies Law firms Web developers Corporates Government Information Division Law schools Multinational companies

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56 Economist Economists analyse issues related to growth and development, welfare and policy formulation, and assess their long and short term significance for the country. Economics is the study of production and distribution processes and the most effective means of utilizing available resources. Salary: 2.45 Lakhs to 25 Lakhs per annum Std XII Stream: Science, Commerce, Humanities/Arts Mandatory Subjects: Economics, Maths Career Interest: Business, Clerical

57 Job Profile Economists work in one of the three sectors: Government and public sector enterprises Industry and trade Banking and finance Economists often specialise as research economists, business economists, agricultural economists, financial economists, international, industrial or labour economists.

58 Research economists Develop mathematical models to explain and interpret business cycles, inflation, effects of tax policies or unemployment. Use Mathematics and Statistics to the theory and principles of economics. Apply econometrics for analysis and prediction of all economic activity.

59 Business economists Work as company's administrators, making decisions about company policies, plan future business activities in relation to general business conditions, national and international trade policies, governmental regulations and directives.

60 Agricultural economists Study economic aspects of agricultural problems in order to increase efficiency of farm management, improve farm income and effect favourable agricultural legislation. Forecast production and consumption of agricultural products Locate optimum markets and deal with agricultural financing.

61 Financial economists Develop monetary policies and predict financial activity. Examine credit structures and collection, banking methods and procedures to devise techniques for regulation of lending, fixing interest and discount rates.

62 International economists Collect and analyze statistical data and other information on foreign trade for favourable trade balances Establish acceptable international trade policies, exchange controls and operation of foreign exchanges. Study, implementation and formulation of policies on investments, and transfer of capital on the international scene.

63 Labour economists Study labour trends and policies Handle labour disputes, unions, industrial policies of management Work as advisors to government or industry. Industrial economists Studies the organizational structures of business to make maximum use of assets Investigate methods of financing, production costs, techniques of marketing policies for possible improvements. Analyse market trends to relate production for future consumption and interpret effects of governments regulations and legal restrictions on industrial policies.

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66 Recruiting Companies Multinational Banks (HSBC, ABN AMRO, Citi Bank etc),Media groups e.g Economic Times, Business India, CNBC etc. Stock Exchanges, Tata AIG, LIC, Reserve Bank of India etc.

67 *Graduates can specialize at the post graduate level. Postgraduation in business economics is suggested for entering the banking and business sector, business journalism for entry into journalism and media reporting on business matters. **Graduates in Economics/Statistics in the age group are eligible for the IES examination conducted by UPSC. This is a Central Government Service which is involved in economic planning and analysis through state boards, planning commissions, financial organisations and government bodies for the country. The announcement for the examination is made in March every year for the examination in September.The written examination has 2 parts - General English and General Studies papers of 150 marks each. In Part II there are 3 papers of Economic. Two papers on General Economics and one in Indian Economics. Economics papers are of the graduate/postgraduate standard.Selected candidates have to clear an interview, after which they are appointed to Grade IV posts.

68 Reserve Bank of India Reserve Bank of India, Department of Economic Analysis and Policy, recruits postgraduates in Economics as research officers through a written test,. The selection examinations are announced through newspapers. Postgraduates in Economics, in the age group of years (relaxation for Doctorates), are eligible for the RBI written examination. Selected candidate have to appear in an interview for final selection. The selection is conducted by the Reserve Bank of India Services Board, Hong Kong Bank Building, MG Road, P O Box 10009, Mumbai

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70 Retail Manager The retail industry has businesses such as departmental stores, shopping malls and brand outlets. Retail outlets are professionally managed and involve on-floor display, sales, inventory, storage and sales promotions of products. Salary: 1.57 Lakh to 7.58 Lakhs per annum Std XII Stream: Science, Commerce, Humanities/Arts Career Interest: Business, Clerical

71 Job Profile Retail marketing involves:Sourcing and procurement Merchandising Supply chain management Store Operations Product development Promotion Pricing Distribution to retail outlets Marketing Finance HR and IT operations as part of the support services

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73 Employment Opportunities Retail outlets Export houses Departmental stores Manufacturers Financial institutions for marketing IT and BPO Education sector Publishing houses Healthcare product manufacturers Sports equipment and sports gear manufacturers

74 Recruiting Companies AV Birla Group Bharti Walmart K Raheja Group Landmark Group Pantaloon Retail Piramal Group Reliance Tata group

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77 Stock Broker Stock exchanges are like market places where stockbrokers buy and sell securities for individuals or institutions. Salary: 1.82 Lakh to Lakhs per annum Std XII Stream: Science, Commerce, Humanities/Arts Career Interest: Business, Clerical

78 Job Profile Stock Brokers Carry out operations for private clients and institutional clients Act as dealers (client investment managers) Advise (equity sales advisors) Provide services for portfolio management Review investments in the light of trends and developments in the market Are specialists in Bond issue, mutual funds etc

79 In large firms stock brokers Deal with and advise smaller firms Securities brokers work with private clients to understand the investment plans and objectives of the client i.e expectation for returns and interest in risk taking Execute orders to buy and sell securities Advise on the sale and purchase of stock Advise for investments Carry out market transactions Work in pre sales, sales and after sales services for securities Carry out investment banking for firms and the government

80 As Securities Analysts Advise on floatation's of shares in conjunction with the merchant banks Have knowledge of the market to be able to anticipate certain trends and make predictions

81 Stock broking analysts Work with firms which provide advice on buying and selling of shares and also by those firms which have funds to be managed Fund managers in merchant banks, insurance and pension funds are involved with huge investments made by millions of investors. The funds are eventually disbursed as insurance claims, pensions etc. They as specialists are financial advisors who provide advice on the how and where concerning investment

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83 Employment Opportunities Large Businesses Broking firms Investment banks Traditional banks dealing with broking firms Investment consultancies Insurance companies Pension funds Foundations Mutual funds Other financial institutions Magazines and Newspapers Research

84 Recruiting Companies Karvy Consultants HSBC InvestDirect(India) Ltd. Kotak Securities Ltd. Motilal Oswal Securities Ltd.

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86 Thanks


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