Why a professional certification is ideal for finance career
WHY A PROFESSIONAL CERTIFICATION IS IDEAL FOR A
FINANCE CAREER ?
Professional Certification Vs MBA
NELSON
MANDELA said- Education is the most powerful weapon which you can
use to change the world.
For a man who spent 27 long years in prison
in his antiapartheid battle, received about 250 honors worldwide, including the
Nobel Peace Prize, he truly valued the importance of Education.
It is inspiring for all of us, to take a
leaf from his life and give due weightage to the value of education, if we have
to have a successful career-be it in finance sector or any other chosen sector.
What
is Professional Certification?
Professional certification in the finance sector
includes CA/CPA/CMA USA/ACCA
/FRM and such specified qualifications which are issued by respective
regulatory bodies or Institutes.
These certificates are granted after the
members pass the exams and training as mandated.
These qualifications also requires a
specified number of hours annually of continuous learning programs for
knowledge up-gradation to stay abreast of the various and ever changing
statutes.
Why
Professional Certification Required:
Professional Certification is specifically
mandated by the Government Authorities in India and also globally for certain
specified roles, like Statutory Auditors, Tax Auditor, Transfer Pricing
Auditor, Cost Auditor etc. Consequently, these certificates provide exclusive
authority to the certificate holders to handle the assignments. For instance,
the Institute of Management Accounting (IMA) offers CMA USA.
Further, the certification confers a very
important role as it provides a unique and distinct credibility due the high
level of standards it bring into the profession. This is largely due to the quality
of education imparted as well as professional ethical standards that is embedded.
In view of this, the revenue authorities
rely on these certified professionals to provide a confirmation on the
corporate finance statements filed as well as the taxes filed and paid.
It is expected that due to their presence,
good governance is established; best practices are adopted and sustained.
In today’s risk prone business environment,
a certified professional would help identify risks and also suggest preventive
and remedial measures.
In the same way, a Certified Professional
would offer active support to the management to take considered business
decisions which would make a good impact on productivity,profitability etc
Professional
Certification VS MBA
Basically a professional certification is a
professional recognition awarded by regulatory bodies and institutes whereas
MBA is an academic degree.
Both professional certification and MBAs
are good enough for a finance career. However, professionally certified
resources are a clear winner, wherever it is mandated like Statutory
Auditor/Cost Auditor/Tax Auditor etc.
MBAs from premium Indian Institute of Managements(IIM) have a
clear advantage over the Tier 2
Institutes.
Confucious once said- Choose a job you love and you will never have to work a day in your
life.
In order that we live up to this
philosophy, it is imperative that a considered decision is taken after looking
at various options available.