Careers in Accounting & Finance

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Careers inCareers in

Accounting and FinanceAccounting and Finance


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Why study Accounting and Finance?Why study Accounting and Finance?

TheThe SensexSensex crossescrosses 1111,,000000 indicatingindicating thumbsthumbs upup forfor thetheboomingbooming financefinance sectorsector..

FinanceFinance hashas becomebecome aa lucrativelucrative careercareer optionoption fromfrombeingbeing associatedassociated withwith LICLIC agentsagents andand BankingBanking professionalsprofessionals totoPortfolioPortfolio managersmanagers andand CorporateCorporate FinanceFinance advisorsadvisors..

TodaysTodays numbernumber crunchercruncher geniusesgeniuses inin investmentsinvestments andand equitiesequities

havehave aa basketfulbasketful ofof refreshingrefreshing varietyvariety toto choosechoose from,from,toto staystay fiscallyfiscally fitfit..

WithWith globalglobal privateprivate equityequity fundsfunds likelike FidelityFidelity andand TemasekTemasekHoldingsHoldings andand InsuranceInsurance majorsmajors likelike AIGAIG bettingbetting bigbig onon thethe

country,country, thethe financefinance sectorsector isis justjust becomingbecoming aa richrich huntinghuntinggroundground forfor jobjob seekersseekers..


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The banking sector witnessed strong growth in deposits andadvances during the year 2004-05. As of March 2005, the

number of commercial banks stood at 289.The aggregatedeposits of scheduled commercial banks increased fromUS$ 331 billion in March 2004 to US$ 374 billion in March2005

The market share of LIC, has clocked 21.87% growth inbusiness at Rs.197.86 billion by selling 2.4 billion new policies in2004-05. It is expected that in the years to follow new jobcreations in this sectoralone will touch a figure greater thanone lakh.

According to Sonal Agrawal, Country Director, Accord Group, aAt the lowest level, base compensation has gone up by 15-20 percent. At the higher level, it is largely the variable

compensation that comes into the picture.


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26 percent of the class of 2006 at the IndianInstitute of Management, Bangalore (IIM-B)accepted job offers in Finance with Consulting andinvestment banking being their hot favorites.

70 percent of this batch, in spite of having anengineering degree chose a completely differentcareer in Finance after the two-year PGP course atIIM-B.

In 2004, 15 per cent of CAs joined BPO sectors. In2005, out of 6,179 students, 35 per cent joined BPOsectors. It is estimated that in the next five years,this numberwill increase to 50 per cent from the

35 per cent


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What is Accounting and Finance?What is Accounting and Finance?

A career in Accounting and Finance provides opportunities invarious areas like-


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Is Accounting and Finance for you?Is Accounting and Finance for you?

The following table provides information

on skills & qualities required for

a successful career in Accounting

and Finance sector.


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WhatWhat isis thethe studystudy flowflow forfor AccountingAccounting andand Finance?Finance?


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The study route in Accounting and Finance


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The study route forInsuranceThe study route forInsurance


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Colleges in IndiaColleges in India

Some Colleges offering B.Com withspecialization in Banking & Insurance and

Accounting & Finance (UG)-Mumbai

For further details refer the report on Careers in Accountingand Finance.


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Commercial Banking, Retail Banking & Financial Planning

Insurance



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Accounting & Corporate Finance

Investment Banking



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Accounting--US & UK

-Brigham Young University: MarriottSchool of Business

-The College of William and Mary: Mason School of Business

-University of Arizona: Eller College of Management

-University of Florida: Warrington College of Business

-University of Michigan: Stephen Ross School of Business

-Certified Public Accountant (CPA)- American Institute of Certified Public nAccountants

Education Abroad



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Education Abroad

Investment Banking,

Commercial Banking,Retail Banking & Financial Planning

--US & UK

-Vanderbilt University: Owen Graduate

School of Management

-University of Arizona: Eller College of Management

-Georgia Institute of Technology: College of Management

-UC Berkeley: Haas School of Business-University of Arizona: Eller College of Management-CFA Institute

-American Institute of Certified Public Accountants



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Education Abroad

Insurance

Tilburg University

Imperial College London: Tanaka Business School

Georgia State University Netherlands



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Who are the potential employers in India?Who are the potential employers in India?

Accounting

and FinanceICICI

HDFC

CitiBank

Lehman Brothers

Reliance

HSBC

Standard Chartered

InvestmentBanking

ABN Amro

Deutsche Bank

JP Morgan

Warburg Dillon Read

DSP Merrill Lynch

HSBC

Chase Manhattan Bank

AMBIT

PricewaterhouseCoopers


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Who are the potential employers in India?Who are the potential employers in India?

InsuranceLIC

GIC

Tata-AIG

ICICI

Citibank

HSBC

Retail Banking

Standard Chartered

CitibankABN AMRO

ICICI Bank

HDFC Bank

UTI Bank

Commercial Banking

Citibank

ICICI

Bank Of Baroda

State Bank

Bank ofIndia


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Tracing the Career pathTracing the Career path

Career path in Accounting

Accountants are involved in accounting procedures

and financial planning, in integrating the knowledge ofaccounts and finance, as well as in computer software development with other professionals forinformation processing


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Career path in Retail Banking

Retail Bankers are involved in customer interaction, front line sales, channel sales,development of asset / liabilities / card products,marketing of products or handling non-deliverychannels for Banking products (like ATMs, Internetetc)


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Career path in Insurance

A career in Insurance involves large asset management operationsand selling mutual funds and other investment products.


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Career path in Financial Planning

Financial Planner offers extensive wealth-creation

advice and assistance across all financial markets orspecialise in areas.


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The average salaries for Finance professionalsThe average salaries for Finance professionals


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Emerging areas in the Accounting and Finance sector are-

Financial Outsourcing Knowledge Process

OutsourcingBusiness Process Management

Knowledge Process Management

Stock ExchangeWarehouse Management

Investment banking

Commercial bankingRetail banking

Financial Planning


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CA or MBA?

An analysis of the recent batch profilesin the top B-schools in the country

shows that after engineers, commercegraduates form the second largestchunk of students in MBA programmes.

Possible Career Progression after Qualification


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SWOT Analysis for an MBA and a CA


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Ms. Kalpana Morparia

Deputy Managing Director, ICICI

Education-

Graduated in Science, Mumbai

Post-Graduate in law from University of Mumbai

Awards & Achievements

Women Achievers Award in the Field of Financeand Banking 1999'. the Indian Merchants' Chamber(Ladies Wing)

Economic Times Award for Corporate Excellence2005 as the Businesswomen of the Year


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Arun Kumar Purwar

Chairman, State Bank of India

Award:2005: CEO of the yearaward, for BrandExcellence (India Brand Summit 2005)

Under his chairmanship

The State Bank of India (SBI) Group, became amember of the $1 billion club.,

SBIs net profit increased by 19 percent to Rs3,681 crore during 2003-04.

Education:Masters degree in Commerce fromAllahabad University


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Aditya Puri

Education:

Chartered Accountancy from the Institute ofChartered Accountants, India. Puri is anassociate member of the Institute of CharteredAccountants of India.

Articles with ThakurVaidyanath Iyer, Delhi.

Bachelor's degree in commerce fromChandigarh, Punjab University.

Schooling in Poona.

MD, HDFC Bank


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SummarySummary

As the speculation of industry professionalsgo, its definitely going to be an upswing forthe finance sector. At present, the financesector is getting transformed into atechnology-intensive and customer-friendly

model with a focus on convenience. The roleof an integrated financial infrastructure is tostimulate and sustain economic growth.Finance will have a significant contribution

in propelling India forward as a globaleconomic power.


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For further details on Accounting and Finance, refer to

Report onReport on Careers in Accounting and FinanceCareers in Accounting and Finance

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