Which are the Top Professional courses in 2020?

Top Professional courses into Accounting

With the increasing demand from the accounting industry, there is a huge transformation in the way an individual is trained for the corporate environment. For example, repetitive accounting services are replaced by automation. There are plenty of educational courses, offered by various universities, that are designed to enhance the knowledge of the candidates as per the industry. But, is gaining theoretical knowledge of the domain enough for a power-packed career start? Companies require a candidate to know more than what has been put up in the books. There was a need for professional courses that were more focused on delivering what is expected by the companies and the industry.

What makes professional courses different from the regular courses is that the regular one covers the industry in general. Whereas, professional courses focus on a specific domain covering every aspect of the subject. Professional courses are more precise courses and are designed to train the candidate for the on-job experience or professional environment. These professional courses not only give the candidate a detailed idea about how things work in the corporate environment, but also enable them to develop the skills that will help them face various challenges professionally.

Coming back to the top professional courses that are available in the market, here are the shortlisted ones:

Top Professional courses into Accounting 

1. CMA (Certified Management Accountant)

CMA certification is very much in demand globally. The professional certification course is offered by the Institute of Management Accountants (IMA), USA. IMA is the only organization that offers a CMA and operates in 140 countries with over 1,44,000 members. The institute has designed the course keeping the technical advancements in mind. It trains the candidate on technologies like eXtensible Business Reporting Language (XBRL) to conduct the accounting process.

What makes CMA so popular is the range of topics it covers in a short duration. It is one of the professional courses that offer maximum ROI, not only on the money but also on the time invested. CMA covers several aspects of management accounting, which includes cost management, advanced accounting technology and analysis, financial reporting, forecasting, budgeting, risk management, decision-making and analysis, and many other subjects.

Here are some factors and features to consider before enrolling for professional courses like CMA: 

	CMA-US	CMA-India	CIMA-UK
Credentials issued by	IMA (Institute of Management Accountants), US	The Institute of Cost Accountants of India (formerly ICWAI), India	CIMA (Chartered Institute of Management Accountants), UK
Duration	6 months	3-4 years	2-4 years
Approximate Cost	INR 120k – 150k	INR 100k	INR 200k
Academics	2 papers, single-level exams	20 papers, 3-level exams	16 papers, 5-level exams
Recognition	Globally recognized	India	UK & Commonwealth countries

• Eligibility: A bachelor’s degree / Professional certification and Two years of relevant work experience.
• Duration: Six months or more
• Top employers: Cognizant, KPMG International, DHL
• Average salary range: Five lacs to Eight lacs (Source: PayScale)

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2. USA CPA (Certified Public Accountant)

CPA certification is offered by the American Institute of Certified Public Accountant (AICPA). AICPA constitutes of 429,000+ members across 122 countries. A CPA course is an alternative to the Chartered Accountant course (CA) in India, but what makes a difference is that the CPA course is designed from a global perspective.

Several students in India plan to pursue CA after 12th or graduation. The CA course is offered by ICAI (Institute of Chartered Accountants of India). The CA course takes a minimum of four to five years to complete and the difficulty level of the examination is high. The percentage of students clearing the different levels of CA examination is extremely low. As such CPA is a more economical option that is beneficial and fruitful.

It focuses on international standards, laws, and principles. A CPA can take up different roles and positions in a company including Tax Manager, Audit Manager, and Consulting Manager. A CPA can also work in specialized areas of accounting like financial forensics, IT consulting, personal financial planning, and business valuation.

CPA is recognized globally and is preferred by a majority of the countries and companies. Also, the time taken to complete the course and start yielding the benefits on the investment is something to be considered. CPA is a more extensive course compared to the CMA and includes topics like financial accounting and reporting, taxation, auditing and evaluation, regulatory frameworks and procedures, laws, ethics, strategizing, planning and management of finances.

Here are some features that make CPA a preferred professional course over the CA:

Criteria	CA (Chartered Accountant)	CPA (Certified Public Accountant)
PASS PERCENTAGE	16% as on 2018	Around 50% across papers
DURATION	3-4 years	2-4 years
EXAM STRUCTURE	3 Level of exams	Just 1 exam
OPPORTUNITIES	India	India and Global
EXPENSE	Program cost low if time and opportunity cost not accounted	Program fees slightly higher
SALARY	If a CA earns x amount	CPAs are earning 15% – 40% more then a (x) CA

• Eligibility: Graduation
• Duration: Two years
• Top employers: JP Morgan Chase, Wells Fargo, Citigroup, UBS
• Average salary range: Seven lacs to Twenty lacs (Source: PayScale)

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3. ACCA (Association of Chartered Certified Accountants)

Association of Chartered Certified Accountants is a United Kingdom-based global professional accounting body that offers the Chartered Certified Accountant course. ACCA constitutes of 233,000 members and 536,000 students over 178 countries. The course offered by ACCA has the lowest eligibility criteria wherein a candidate can pursue the course before graduation.

Similar to the CPA, this professional course also covers several aspects of the accounting domain. The topics covered include Business Accounting, Management Accounting, Financial Accounting and Management, Corporate and Business Law, Performance Management and Analysis, Taxation, Financial Reporting, Audit and Assurance on an advanced level.

• Eligibility: 12th or Graduation
• Duration: Two years
• Top employers: EY, KPMG, Grant Thornton LLP, Deloitte
• Average salary range: Six lacs to Sixteen lacs (Source: PayScale)

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4. PGP-BAT (Post Graduate Program in Business Accounting and Taxation)

Post Graduate Program in Business Accounting and Taxation is one of the professional courses that provides advanced skills and training in the field of accountancy. PGP-BAT is designed keeping the loopholes of the traditional educational system in mind. The BAT course is an intensive and in-depth study of the field. It trains the candidate to acquire the skills required in the industry and also teaches them about the latest updates and changes in the Indian tax system.

Not only it imparts knowledge, but it also trains the candidate to get familiar with the different tools and systems used in the industry. The course trains the candidate in financial reporting using ERP software, Goods and Service Tax (GST), MIS reporting, SAP, Busy Software, direct tax, payroll, auditing, and much more. Compared to the intensive range of topics it covers, the duration of the professional course in India is merely a few months. The course ensures extremely high ROI if you do not wish to spend too much time on professional courses.

• Eligibility: B.Com and above
• Duration: Eight weeks to twelve weeks, depending on the program
• Top employers: Genpact, Bajaj, Adobe, Datamatics
• Average salary range: Three lacs to Ten lacs (Source: PayScale)

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5. GST (Goods and Service Tax)

It has not been long the GST has been introduced, replacing all the other indirect taxes that existed earlier. GST is an extensive topic that seems complicated to understand without any professional guidance. To make it easier for accounting professionals to get hold of the new tax system, there is a dedicated course designed for GST.  The GST is one of the short-term professional courses in India that focuses on every aspect of the new tax system.

The topics covered under the course are basics of tax and taxation system in India, the GST structures and rates as compared to the old taxes, applicability of the tax in the different industries based on the goods and services, accounting and payment of GST, filing GST returns and tax credit composition scheme.

Every accounting professional must have updated knowledge about the new tax system and structure. Be a student or a working professional, a GST course is a must for all. There are no eligibility criteria for a GST course and the course can be completed in a mere 32 hours duration.

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Top Professional courses into Finance

1. CFA (Chartered Financial Analyst)

CFA is a professional course that trains the candidate in all the aspects of the finance segment, be it analysis, estimating or forecasting the future performance of the company, or financial and portfolio management. CFA is offered by the CFA Institute based in the United States and is considered a leading industry expert. The CFA Institute constitutes of more than 170,000 CFA charter holders across 165+ countries. A CFA certification is considered the highest designation in the finance industry.

The CFA course covers ten key areas that include ethical and professional standards, quantitative methods, economics, financial reporting and analysis as per international standards, analysis of taxes, debt, global operations, corporate finance, equity investments, equity portfolio and performance measurements, fixed income, alternative investments in real estate, private equity, commodities, portfolio management and wealth planning.

Candidates who wish to gain extensive knowledge in the finance domain prefer a CFA course over other master’s degrees in finance. The demand for CFA holders is high in the market, and the profession is well-paid thus making it one of the top professional courses in India

• Eligibility: Graduation + Two years of professional work experience
• Duration: Two years Six months (for all three levels of exams)
• Top employers: JP Morgan Chase, UBS, Citigroup, Bank of America
• Average salary range: Six lacs to Eighteen lacs (Source: PayScale)

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2. Financial Modeling

Financial modeling is building tools and models that enable financial analysis and forecasting for the business. The financial models can be used to study the current performance and growth of the company. It can also be used to forecast and derive estimates about future performance based on historical data, assumptions, and various economic considerations. A professional does not need advanced software to prepare a financial model. Financial models can be created using Excel and quantitative formulas.

Financial modeling involves working with financial statements like Balance Sheet, Income Statement, and Cash Flow statement. Using the three statements financial models like Discounted Cash Flow (DCF) Model, Merger Model (M&A), Initial Public Offering (IPO) Model, Leveraged Buyout (LBO) Model, Sum of the Parts Model, Consolidation Model, Budget Model, Forecasting Model, Option Pricing Model are created.

Financial modeling is gaining importance in every industry, as it enables the companies to plan and strategize their business operations and processes. Professionals in the financial modeling segment often work in equity research, risk and credit analysis, investment banking, commercial banking, fund management, business planning and strategy, and financial analysis domain.

Any professional from the accounting and finance background like a Commerce graduate, CA, CFA, MBA, or even a B.Tech graduates can pursue can financial modeling professional course. One of the top professional courses in India into Financial Modelling is offered by the NSE and BSE institute.

• Eligibility: Graduation and above
• Duration: Six weeks to Nineteen weeks, depending on the program
• Top employers: Deloitte, Accenture, Oracle, Gartner, Invesco
• Average salary range: Five lacs to Twelve lacs (Source: PayScale)

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3. FRM (Financial Risk Manager)

FRM courses are administered by the Global Association of Risk Professionals (GARP, USA). GARP is a leading professional organization for Risk managers. An FRM course trains the candidate to analyze the different risks associated with a business, such as credit risk, market risk, operations risk. An FRM course mainly focuses on the risk aspect of the business and includes topics like management of risk, valuation and risk models, financial markets and products. Financial Risk managers get the opportunity to work with banks, consulting firms, asset management companies, insurance, technology, and non-financial companies. Professional courses in FRM are designed to develop logical and analytical skills of the candidates. The demand for FRM professionals is high and increasing rapidly making it one of the top professional courses in India. 

• Eligibility: Graduation and above
• Duration: Nine months (Two-part exam conducted in May & November)
• Top employers: ICBC, KPMG, HSBC, Deutsche Bank, Citigroup
• Average salary range: Ten lacs to Eighteen lacs (Source: PayScale)

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Other Top Professional courses

 

4. Digital Marketing Master’s course

Digital marketing is one of the segments that is gaining huge popularity. With the advancement in technology, marketing has taken an interesting turn. There is a noticeable transformation in the marketing measures taken by the companies. Digital marketing practices are more fruitful than traditional marketing methods and hence companies are focusing on generating business through the internet.

A candidate from any domain can enroll for a digital marketing course, and this one of the reasons it is considered one of the top professional courses in India. There are more than 18000 jobs that are generated daily and hence digital marketing has become one of the fastest growing domains. But at the same time, there is a huge gap in the demand and supply of skilled marketing professionals. This is one of the reasons that make digital marketing a high paying profile.

The topics that are covered under the digital marketing program are Search Engine Optimization, Mobile Marketing and Optimization, SEM – PPC Marketing, Social Media Marketing, Email Marketing, Marketing Automation, Affiliate Marketing, Funnel Marketing, Growth Hacking, Web Analytics, Content Marketing & Conversion Rate Optimization (CRO), and Soft Skill Training.

• Eligibility: Graduation and above
• Duration: Six weeks to Nineteen weeks, depending on the program
• Top employers: Amazon, Accenture, Dell, Cisco, Infosys
• Average salary range: Five lacs to Eight lacs (Source: PayScale)

(For more details click here)

EduPristine provides training for accounting courses like US CPA, US CMA, ACCA, PGP-BAT, and finance courses like CFA, Financial Modeling, FRM and Digital Marketing course. If you wish to know more about the course details like the duration, fees, syllabus, scope, etc, walk in at any of the EduPristine centers for a free counselling session.