MPLMPLEDUCATIONAL CONSULTANTSEDUCATIONAL CONSULTANTS

CAREER OPTIONS INCAREER OPTIONS IN

ACCOUNTING ACCOUNTING & &

FINANCEFINANCE

WHY STUDY ACCOUNTING & WHY STUDY ACCOUNTING & FINANCE?FINANCE?

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

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.

BUSINESSBUSINESSADMINISTRATIONADMINISTRATION

STUDIESSTUDIES

VSVS

PROFESSIONAL PROFESSIONAL ACCOUNTANCYACCOUNTANCY

WHAT IS THE PURPOSE OF WHAT IS THE PURPOSE OF BUSINESS ADMINISTRATION BUSINESS ADMINISTRATION

STUDIES?STUDIES?A Business Administration A Business Administration program is designed to meet the program is designed to meet the challenge of full-filling the needs of the society under resource challenge of full-filling the needs of the society under resource constraints by providing new dimensions in the body of constraints by providing new dimensions in the body of knowledge needed for managerial development. knowledge needed for managerial development. Environmental, social, ecological, and economic forces are Environmental, social, ecological, and economic forces are affecting every sector of business enterprise and every area of affecting every sector of business enterprise and every area of business, governmental and industrial administration. The business, governmental and industrial administration. The Business Administration program prepares students for Business Administration program prepares students for assuming responsibility of management in their career path in assuming responsibility of management in their career path in business and other organizations. The program also prepares business and other organizations. The program also prepares students having career interest in teaching or research and also students having career interest in teaching or research and also for higher studies.for higher studies.

OBJECTIVES OF BUSINESS OBJECTIVES OF BUSINESS ADMINISTRATION PROGRAMADMINISTRATION PROGRAM

The objectives of the MBA program are to develop the student's The objectives of the MBA program are to develop the student's

(a) technical and functional skill in such areas as accounting, finance, (a) technical and functional skill in such areas as accounting, finance, marketing, production-operations, human resource, etc., marketing, production-operations, human resource, etc.,

(b) analytical-decision making skill so that s/he can identify and diagnose (b) analytical-decision making skill so that s/he can identify and diagnose problems, formulate alternative solutions and make a decision, problems, formulate alternative solutions and make a decision,

(c) ability to successfully communicate and interact with diverse (c) ability to successfully communicate and interact with diverse individuals, to promote the ability to provide leadership and to individuals, to promote the ability to provide leadership and to function as an entity in a competitive atmosphere, and function as an entity in a competitive atmosphere, and

(d) inclination to innovate appropriate indigenous system and practice of (d) inclination to innovate appropriate indigenous system and practice of management effective in the socio-economic and cultural context of a management effective in the socio-economic and cultural context of a developing country like Pakistandeveloping country like Pakistan

COMMON BUSINESS COMMON BUSINESS ADMINISTRATION PROGRAMSADMINISTRATION PROGRAMS

Accounting and Finance Accounting and Finance Banking and Finance Banking and Finance Business AdministrationBusiness Administration Mathematics and EconomicsMathematics and Economics ManagementManagement Management with Law Management with Law Law with Management Law with Management Law with AccountingLaw with Accounting Economics Economics Economics and Management Economics and Management Economics and Finance Economics and Finance Development and Economics Development and Economics

WHY CHOOSE ACCOUNTACY WHY CHOOSE ACCOUNTACY AS YOUR CARRIER?AS YOUR CARRIER?

Global demand for qualified finance professionals Global demand for qualified finance professionals

The global demand for qualified finance professionals has never been The global demand for qualified finance professionals has never been so higher, and their work more varied. so higher, and their work more varied.

A job in accountancy can help you gain a high salary and a fast track A job in accountancy can help you gain a high salary and a fast track to the top in your chosen field, and as a qualified accountant, the work to the top in your chosen field, and as a qualified accountant, the work you do will be intellectually demanding and interesting. Make the you do will be intellectually demanding and interesting. Make the right choice and you could work for the type of organization that suits right choice and you could work for the type of organization that suits you. Any industry, any sector, anywhere. you. Any industry, any sector, anywhere.

If you are serious about a career as a finance professional, you need to If you are serious about a career as a finance professional, you need to think seriously about a professional qualification. There’s a lot to think seriously about a professional qualification. There’s a lot to choose from, but the choice you make now will affect your career choose from, but the choice you make now will affect your career options in the future.options in the future.

ACCOUNTANCY IN PAKISTANACCOUNTANCY IN PAKISTAN INSTITUTE OF CHARTERED ACCOUNTANTS INSTITUTE OF CHARTERED ACCOUNTANTS

(ICAP)(ICAP) INSTITUTE OF COST & MANAGEMENT INSTITUTE OF COST & MANAGEMENT

ACCOUNTANTS (ICMAP)ACCOUNTANTS (ICMAP) ASSOCIATION OF CERTIFIED CHARTERED ASSOCIATION OF CERTIFIED CHARTERED

ACCOUNTANTS (ACCA-UK)ACCOUNTANTS (ACCA-UK) THE CHARTERED INSTITUTE OF THE CHARTERED INSTITUTE OF

MANAGEMENT ACCOUNTANTS (CIMA-UK)MANAGEMENT ACCOUNTANTS (CIMA-UK) INSTITUTE OF MANAGEMENT INSTITUTE OF MANAGEMENT

ACCOUNTANTS (CMA-USA)ACCOUNTANTS (CMA-USA) GLOBAL INSTITUTE OF RISK PROFESSIONALS GLOBAL INSTITUTE OF RISK PROFESSIONALS

(FRM-USA)(FRM-USA) CHARTERED FINANCIAL ANALYST CHARTERED FINANCIAL ANALYST

INSTITUTE (CFA)INSTITUTE (CFA)

What Is Chartered Accountancy? What Is Chartered Accountancy? Chartered Accountants work for big and small firms that offer fee Chartered Accountants work for big and small firms that offer fee

earning advisory and management services to a variety of clients and earning advisory and management services to a variety of clients and businesses in the industrial, commercial and non profit sectors. They businesses in the industrial, commercial and non profit sectors. They audit the accounts of these clients and businesses and can also be audit the accounts of these clients and businesses and can also be involved in specialist areas of financial advice such as tax. Chartered involved in specialist areas of financial advice such as tax. Chartered Accountants are also employed in commercial organizations, banks, Accountants are also employed in commercial organizations, banks, and the private and public sectors. and the private and public sectors.

To become a Chartered Accountant you need to be motivated, possess To become a Chartered Accountant you need to be motivated, possess analytical skills, numerical ability, a keen sense of what is going on in analytical skills, numerical ability, a keen sense of what is going on in the world of business and finance, and personal qualities such as the world of business and finance, and personal qualities such as reliability and discretion. You will be required to study business and reliability and discretion. You will be required to study business and corporate finance, economics, auditing, taxation, management and corporate finance, economics, auditing, taxation, management and information systems.information systems.

Chartered Accountancy is a rewarding career and there are excellent Chartered Accountancy is a rewarding career and there are excellent prospects for employment in audit firms as well as in local companies, prospects for employment in audit firms as well as in local companies, multi-nationals, and local and  foreign banks. The profession has stood multi-nationals, and local and  foreign banks. The profession has stood the test of time, and career opportunities for Chartered Accountants the test of time, and career opportunities for Chartered Accountants are unfolding as corporations increasingly realize the importance of are unfolding as corporations increasingly realize the importance of professional values, ethics and good governance.professional values, ethics and good governance.

CHARTERED ACCOUNTNACY or BUSINESS ADMINISTRATION?An analysis of the recent batch profiles in the top B-schools in the country shows that after engineers, commerce graduates form the second largest chunk of students in Business Administration programmes.

Possible Career Progression after Qualification

CHARTERED ACCOUNTANCY BUSINESS ADMINISTRATION

SWOT Analysis for MBA and CHARTERED ACCOUNTANCY

Tracing the Career PathTracing the Career PathCareer path in Accounting

Accountants are involved in accounting procedures and financial planning, in integrating the knowledge of accounts and finance, as well as in computer software development with other professionals for information processing

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-delivery channels for Banking products (like ATMs, Internet etc)

Tracing the Career PathTracing the Career Path

Career path in Insurance

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

Tracing the Career PathTracing the Career Path

Career path in Financial Planning

Financial Planner offers extensive wealth-creation advice and assistance across all financial markets or specialise in areas.

Tracing the Career PathTracing the Career Path

Emerging areas in the Accounting and Finance sector are-

•Financial Outsourcing –Knowledge Process Outsourcing

•Business Process Management

•Knowledge Process Management

•Stock Exchange

•Warehouse Management

•Investment banking

•Commercial banking

•Retail banking

•Financial Planning

•Forensic Accounting

SummarySummary

As the speculation of industry professionals go, it’s definitely going to be an upswing for the finance sector. At present, the finance sector is getting transformed into a technology-intensive and customer-friendly model with a focus on convenience. The role of an integrated financial infrastructure is to stimulate and sustain economic growth. Finance will have a significant contribution in propelling Pakistan forward as a global economic power.

WISHING YOUWISHING YOUTHE BEST OF LUCKTHE BEST OF LUCKFOR YOUR FUTUREFOR YOUR FUTURE

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