Having a career in accountancy is a dream for thousands in this country. It is one of the most prestigious career choicesavailable and the monetary returns are also high. But before you plunge into the pool of career choices you must learnthe ambits that each profession covers. Apparently it may seem like there is no difference between a CharteredAccountant and a Certified Management Accountant when in reality there are several dissimilarities. Let us now look into each of these in a more detailed fashion.
What is the history of Chartered Accountancy and what’s its current scope?
The Glasgow Institute of Accountants and Actuaries formed the first body of Chartered Accountants in the year 1854.From then on it has been a leading profession for the upcoming centuries.Enrolling yourself in the best CA CPT classes is step number one if you want to step into this world and begin a winningcareer. The CA course is very versatile in nature and in fact every kind of organisation ranging from public sector ones to NGOs- everyone requires the expertise of a CA. Crunching numbers is no child’s play and therefore a good CA issomeone who everyone will be willing to pay a lot for. Your execution of skills regarding managing accountsstrategically, financial reporting, and auditing will influence how the company runs. If you are not comfortable working within an organisation you can easily choose to be your own boss by acting as a consultant.
What is the scope of a Certified Management Accountant?
The profession of a CMA is fairly recent in comparison to a CA. If the CA can be seen as an equivalent of a father, then the CMA is the indispensible sibling without whom you will find it difficult to make tough decisions. Whenever there is a dilemma in a company’s decision making process, the CMA comes to the rescue. After all business decisions can be made by anybody but only a CMA knows how to make the right ones. Only big MNCs and Public Sector units hire CMAs whereas smaller businesses and NGOs usually don’t require their services. Risk management, analysis, planning,budgeting, forecasting, cost cutting, etc are some of the basic aspects that you have to look into if you are planning to be a Certified Management Accountant. CMA coaching Kolkata has to offer is high on quality. If you avail it you will grow more familiar with the intricate details of the subject and eventually acquire the skills to ace the rigorous examinations.
What are some of the similarities between these two professions?
- Both will demand that you have nerves of steel that can endure the pressure of work.
- Both are like wine whose value is directly proportional to age. As you gain more and more experience, your pay scale and demand in the market will also be on the rise.