Best Long Term Finance Courses in India
In India, finance is one of the most coveted streams and also one of the most prestigious career choices for students and young professionals. In this article, we have shortlisted a few long term courses in finance which have been formed by analyzing the availability of jobs and popularity amongst aspirants.
Chartered Accountancy (CA)
Certified Public Accountant (CPA)
MBA Finance from Tier-I Institutes
Chartered Financial Analyst (CFA)
Chartered Management Accountant (CMA)
Chartered Accountancy (CA):
Chartered Accountancy (CA) offered by ICAI (Institute of Chartered Accountants of India) is a prestigious qualification in the field of finance and accounting. It opens doorways to many opportunities in the financial domain. Several financial service firms and banks look for Chartered Accountants (CAs) to fill their different financial analysis roles. Besides, after qualifying as a CA, the candidate can start his/her own practice.
CA Exam Format:
There are 3 exam levels in Chartered Accountancy.
Level-1: CA Foundation
Level-2: CA Intermediate
Level-3: CA Final
Level-1: CA Foundation is an entry-level exam for the students who have passed their class-12. It’s an offline mode of exam and 4 months of study is a must to appear for this exam. The candidates who passed this level-1 are allowed for level-2 (CA Intermediate) exam.
Level-2: CA Intermediate exam of Chartered Accountancy is for the candidates who cleared the CA foundation exam. Besides, the candidates who qualified for CA CPT are also eligible for the CA Intermediate exam.
Level-3: CA Final exam is conducted for the candidates who passed the CA Intermediate exam and have completed at least 2.5 years of articled training.
Certified Public Accountant (CPA):
Certified Public Accountant (CPA) is the highest professional qualification in the United States related to accounting. One can become a US CPA by clearing the Uniform CPA exam conducted by AICPA (American Institute of Certified Public Accountants). This designation is highly regarded and accepted worldwide, including India.
CPA Exam Format:
There are four sections in the CPA exam:
Regulation (REG)
Auditing and Attestation (AUD)
Financial Accounting and Reporting (FAR)
Business Environment and Concepts (BEC)
The AICPA administers the CPA exam. The total duration of the exam is 16 hours (4 hours for each section).
MBA Finance from Tier-I Institutes:
Masters in Business Administration (Finance) or Masters in Finance from tier-I institutes is a career field which requires the candidate to have skills in economics, mathematics, and financial theory. The rigorous curriculum of this course trains the aspirants to be astute managers in future.
Chartered Financial Analyst (CFA):
Chartered Financial Analyst (CFA) is one of the focussed certifications for candidates who are interested in making a career in security analysis, financial management, and investment analysis. A CFA holder accepts challenging roles in the finance industry across the world.
CFA Exam Format:
The exam format of CFA is not as flexible as the CPA format. CFA consists of 3 levels of exam and one must complete a section in order to move on to the next one. The 3-tier exam is conducted once in a year and it includes questions all about financial analysis, and portfolio management. The candidate learns all the concepts and the analytical methods in the entire syllabus.
The three level CFA exam covers all the following topics:
Accounting
Economics
Ethics
Money Management
Security Analysis
The CFA exam is conducted in the conventional ‘pen and paper’ mode. The CPA exam can be given in any order and at any time within the testing window. However, the CFA exam has to be answered sequentially and each exam is offered 1–2 times in a year.
Chartered Management Accountant (CMA):
Certified Management Accountant (CMA) is a certification that qualifies the candidates those who want to work in strategic management and financial accounting settings. This designation focused on decision making and financial accounting. CMA certification prepares the professionals for a wide variety of careers.
US CMA Exam Format:
There are two parts in the US CMA exam.
Part:1 — Financial planning, Analytics, and Performance
Part:2 — Strategic Financial Management
Each US CMA exam is 3 hours long for MCQs and the second section is of one hour, which consists of essay type questions. So, the total testing duration is 4 hours.
US CMA exam (part1 + part2) consists of 200 MCQs and 4 essay questions.
Conclusion:
From the article given above you now have a clear picture of the best courses in finance in India along with their exam formats. Hope this information is helpful for you in order to choose the right career path that will be suitable for you. Any questions? Comment below.
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