Chartered Accountancy

Dear Students,

We understand the dilemmas of a CA aspirant and therefore, we have gathered few points for you all. These facts will help you understand the importance of Chartered Accountancy course and also, where you can see yourself as a successful person few years down the line.

Scope of Chartered Accountancy
Chartered Accountancy has been one of the most sought after profession in India. The demand for CAs has been growing at a speed of around 10% to 15% over the past 3-4 years. A Chartered Accountant has to go through a rigorous training wherein, both – the theoretical and practical aspects of finance are taught. As more and more opportunities are coming up in the job industry, the need for a Chartered Accountant is also growing giving ample of jobs in the market.
The Scope in India
The CAs work as Finance Managers, Financial Controllers, Financial Advisors or Directors (Finance) and watch over the finances in the day to day management of companies. Their main areas of work include Accountancy, Auditing, Cost accountancy, Taxation, Investigation and Consultancy.
Much of the reputation of CAs is due to the fact that their rigorous training (both theoretical and practical) makes them practically jack of all trades as far as the domain of finance is concerned. In spite of the sea change in global trade systems and practices, the requirement of CAs has remained steady.
The demand for CAs has been growing between 10% to 15% over the past 3 – 4 years. The demand however depends on the state of the economy and there is direct bearing on the demand of CAs when the economy is in downtrend. But the statutory clause for mandatory appointment of CAs provides substantial cushion support to the CA fraternity as compared to other comparable peers.
Advantages of being a Chartered Accountant
•    The job is highly paying.
•    Chartered Accountancy as a career is highly rewarding and respectable.
•    There is a lot of scope of growth in the organization.
•    A Chartered Accountant can be a decision-maker in any organization.
•    There is an imbalance between the demand and supply of chartered accountants and this means that there are less candidates for the number of vacancies to be filled. This serves as an opportunity for those candidates who are looking forward for joining chartered accountancy as a career.
•    A Chartered Accountant is required in all types of  industries irrespective of the nature of business because, certain functions like audit, accounts, taxation, statutory compliance, finance, etc. are carried out everywhere.

Disadvantages of Chartered Accountancy as a Career

•    Chartered Accountancy can be very stressful as the job involves taking care of a lot of functions in an organization.
•    A chartered accountant is expected to be updated of knowledge in the industry otherwise it may lead to stagnation in career.
•    The profession may require the involvement in the organization round the clock and this leaves less time for oneself.

Traits required in a Chartered Accountant:

•    Patience
•    Leadership & analytical skills
•    Good communication
•    Integrity
•    Visionary
•    Professional competence – awareness of technical & professional standards/ developments
•    Confidentiality
•    Self-motivated
•    A good listener
•    Empathetic

All the Best!!

SmartPrep Team

IBPS Notification for CWE Clerical Examination 2014

Registration for CAT 2014 commences

fb-cat notice

 

Registration for the Common Admission Test (CAT) for admission to Indian Institutes of Management (IIMs) commenced from August 06, 2014. This registration will also include the options for taking admissions in the six new IIMs at Himachal Pradesh, Punjab, Bihar, Odisha, Maharashtra and Andhra Pradesh that were recently announced in the budget by the government. These institutes are likely to commence their academic session from 2015-16.

Given below are the important dates to be noted by all the IIM aspirants:

S. No. Events Important Dates
1 Online Registration commences at 10am Aug. 06
2 Online Registration closes midnight Sept. 30
3 Exam Dates Nov. 16 & Nov. 22

The exam will take place in four sessions at 354 testing sites across 99 cities. Candidates will have to make the payment for the registration through online modes only.

Other important points to be noted:

Duration of the exam: 170 minutes

Number of questions: 200

Sections in the exam: Quantitative Ability, Data Interpretation, Verbal Ability & Logical Reasoning

For more information on CAT exams, you can visit www.iimcat.ac.in

SmartPrep is running batches for CAT Aspirants to help them bag a seat in their dream college. Rush to a center near you now!

All the Best to all IIM aspirants!

SmartPrep Team

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IBPS Entrance Examination

CAT Preparation

IBPS – Online Registration Date Announced

The Institute of Banking Personnel Selection (IBPS) has taken out the notification for inviting applications from eligible candidates for Online CWE for RRBs (RRBs- CWE-III) for recruitment of Group ‘A’-Officers (Scale-I, II & III) and Group ‘B’-Office Assistants (Multipurpose) positions.

Given below are the important details that you need to know:

Age Limit (As on June 1, 2014)

S.No. Posts Age
 1. Officer Scale- III Should be between 21 to 40 years of age
 2. Officer Scale- II Should be between 21 to 32 years of age
 3. Officer Scale- I Should be between 18 to 28 years of age
 4. Office Assistant (Multipurpose) Should be between 18 to 28 years of age

 

Application Fees

Posts Class Amount
 

Officer (Scale I, II & III)

SC/ST/PWD candidates Rs.100
Others Rs.600
 

Office Assistant (Multipurpose)

SC/ST/PWD/EXSM candidates Rs.100
Others Rs.600

 

Important Dates

Events Dates
Opening date for online registration June 18, 2014
Closing date for online registration July 9, 2014
Tentative date of examination for Officers September 6 and 7, 2014
Tentative date of online examination for Office Assistant (Multipurpose) September 13, 2014/September 14, 2014/ September 20, 2014/ September 21, 2014

 

For more information on how to apply and other details, you can visit their official website: http://www.ibps.in

You can also contact SmartPrep center near you to get complete details about the exam and on how to prepare for the same.

All the Best,

SmartPrep Team

 

BMS Online Forms are out

Dear Students,

The online application forms for the course Bachelor of Management Studies offered by Delhi University is now available on www.du.ac.in & www.fms.edu The last date to apply for the course will be June 18, 2014. The registration process is to be managed by Faculty of Management Studies (FMS). There are total 840 seats in 6 colleges of Delhi University offering this undergraduate course. The entrance exam would be conducted on June 26, 2014 from 3pm to 5pm.

The selection criteria would be on the basis of marks obtained in boards as well as in entrance exam. The seats will be allotted to qualified candidates through counselling and not Interview.

The list of eligible candidates would be displayed by July 4, 2014 and the counselling would be conducted thereafter.

All the Best to all Students applying for BMS Entrance Exam!

SmartPrep Team

What will a Bachelor with Honors in Management Studies or BMS degree help you with?

A student who completes graduation in BMS from Delhi University prepares a student to explore career opportunities in the ever growing management field. This full time program opens avenues for an individual to either start up a venture on own or join a corporate for good job opportunities. There are several features of management in an organization:

  1. Multidisciplinary in Nature
  2. Result – Oriented
  3. Continuous and never ending process
  4. Working as a team and not as an individual
  5. Management is a continuous and never ending process
  6. Aided but not replaced by the technology
  7. Management is an art of delegating responsibilities to help subordinates grow
  8. The predefined principles and rules are to be followed with professionalism
  9. Learning the multidisciplinary actions in an organization
  10. Dynamic in nature and intangible in services
  11. Management is both an art and science
  12. It’s separate from ownership and is prevalent to all

Various Functional Areas of Management

There are various departments in an organization which work in coordination with each other and are interdependent. To understand the processes involved in management, we have categorized the various functions in 4 heads, namely:

Marketing Management Production Management
Personnel Management Financial Management

(1)         Marketing Management: The management of distributing the product to the buyer is called marketing management. Marketing has certain sub areas like:

  • Advertising: This area deals with advertising of product, introducing new product in market by various means and encourage the customer to buy these products.
  • Sales management: Sales management deals with fixation of prices, actual transfer of products to the customer after fulfilling certain formalities and after sales services.
  • Market research: It involves in collection of data related to product demand and performance by research and analysis of market.

(2)    Personnel Management: Every organization needs manpower for proper functioning of the various departments and the processes involved. Given below are the sub areas of personnel management:

  • Recruitment & Selection: The role of recruitment personnel is to understand the needs of manpower in various departments so as to assign a resource to fulfill the role and responsibilities. It is also the responsibility to keep a track of the job description against which the vacancy has to be announced because only then it would be possible to employ a person suiting that role.
  • Training & Development:A recruitment personnel has to make arrangements to conduct training programs to make the employees competent to grow in the organization. These training programs also help in interacting with employees and understanding the challenges faced by an employee so as to help them in overcoming the issues.
  • Personnel Planning:This deals with preparation inventory of available manpower and actual requirement of workers in organization.
  • Remuneration Management: A human resource personnel has to deal with assessing the job, merit rating of jobs and making salary and incentive policy for employees.
  • Cordial Relations:To keep the employees work with zeal all the time, it is necessary to maintain a healthy and interactive relation with them, to provide them good working conditions and assist in the welfare of the employees.

(3)      Production Management: To make a product, a lot of controlling and coordinating of activities is required regarding the costs involved, the delivery schedules, the quality of the products produced, how wastage can be eliminated, and various other processes. There are various sub-areas under this department:

  • Production Planning: There are various policies and methods that are planned by the manager to  produce the product.
  • Research and Development: Before a product is to be produced or an idea has to be thought of, it is useful to perform research and development of the various methods or techniques involved. All the activities of manufacturing department are dealt here. Other processes involve improvement in existing processes or development of a new product.
  • Location and layouts: The production plant has to be set up and it is the responsibility of the production manager to design the layout of the same and decide about the locations depending on the suitability of the area according to the nature of the work.
  • Supervision of the material: This area deals with procurement, storage, issue and regulating of the material required for production department.
  • Quality Control: To ensure customer satisfaction, a product after it is produced goes through a lot of testing and measures. This is done to check if the quality of the product produced is up to the standards of what’s being promised to the customers.

(4)      Financial Management: The management, utilization and procurement of funds required for various processes are termed as financial management. The importance of this type of management lies in the fact that if funds are not managed properly, then, either there will be deficit or surplus of funds which would result in improper functioning of the business. The sub areas under this type of management are as follows:

  • Management Accounting: In order to take certain decisions on investment plans, return to investors and dividend policy, it is very much important to analyze and interpret financial records in an organization.
  • Financial Accounting: To understand the financial position of the organization, financial statements are required as they a record keeping for various financial transactions that take place.
  • Costing: Costing deals with recording of costs, their classification, analysis and cost control.
  • Taxation: This deals with various direct and indirect taxes which organization has to pay.

To conclude, we can say that an undergraduate course in management helps in attaining knowledge of each department and gives an exposure in theoretical terms of the various processes involved. This widens the scope of exploring job opportunities.

Have you started your preparations for BMS Entrance Exam?

Join SmartPrep and be a part of the Comprehensive Training Program that we offer to management aspirants.

Good Luck!

SmartPrep Team