When a student completes their 12th grade in the commerce stream and decides they want to pursue a career in finance, they must first decide which course to take.
There are a tonne of courses including CA, CFA, CMA, CS, ACCA, CPA, CIMA, and FRM that have promising futures. However, I’ll help you differentiate between the three most popular courses—CS, CMA, and CA—and attempt to clear up any common misunderstandings you might have.
What is the primary distinction between CA, CS, and CMA?
CHARTERED ACCOUNTANCY (CA): CA is a known and well-liked professional programme that a graduate in commerce might select. A CA is necessary to manage Reviewing financial statements, filing corporate tax reports, and in some situations, helping shareholders with their financial needs are examples of financial operations of a firm.
Additionally, after becoming a CA, you can work in the educational sector. You are all already aware of how well-liked those chartered accountants are who are now excellent teachers!
COST AND MANAGEMENT ACCOUNTING (CMA): After CA, CMA is the second most common course chosen by students. To allocate, manage, and control the finances of any firm, a corporation needs a cost and management accountant. A CMA is responsible for taking actions that will ultimately be advantageous to the firm, thus they should have a solid awareness of the present or day-to-day operations of the business. the business! If not as a CMA, you can join as a Financial Analyst, Financial Controller, Certified Management Accountant, or even as high a position as a CEO once the course is over!
Without a doubt, CMA is a rewarding profession that, like CA, needs a similar amount of grit, commitment, and effort to succeed in.
AFTER BECOMING A COMPANY SECRETARY (CS), YOU ARE REQUIRED TO ENSURE THAT THE EMPLOYEES, STAFFS, AND BOARD ARE IN COMPLIANCE WITH THE STATUTORY AND REGULATORY AUTHORITY AND THAT EVERYONE FOLLOWS A PROPER CODE OF CONDUCT. As a CS, you could join the organisation as the strategic manager or even as a consultant for corporate law advising services.
How to Question 2 How much time is typically needed to pass these exams?
You must commit at least five years of your life to becoming a chartered accountant. The CA programme (Foundation, Intermediate, Articleship, and Finals) typically takes 5 years to complete. And at this point, you have successfully completed each one on your first try. If you make more than one, both the prefix to your name and the number of your final attempt are increased.
According to some sources, a three-year professional education in computer science (CS) is equivalent to an undergraduate degree. If your luck is on your side and you excel in your studies, it won’t take you long—just three years—to become as a CS!
When it comes to CMA, the time for this course falls between the previous two. According to prior performance, being a cost and management accountant requires 3–4 years of study. For those who passed the exams the first time, here it is again!
How much money do I need to invest in question three?
A general estimate of the entire cost of the CA Course (all three levels) is between 1.5L and 2L. Exam, tuition, GMCS, ITT, and the books you buy are all covered by this.
When it comes to CMA, the costs are essentially identical to those associated with CA. The cost of this acclaimed course is approximately 1.25L to 1.5L, which includes the cost of the exam, training, and other necessary expenses!
CS turns out to have a substantially lower overall cost than the prior two courses! Approximately $25,000 must be spent over the three levels of the course. This does not include coaching expenses because the CS curriculum is one of the most thorough and self-explanatory, therefore most students don’t require additional instruction. Not even close to your graduation cost, is it? Well, I believe so.
How can I become a CA, CS, or CMA?
In order to become a CA, you first pass the Intermediate foundation test. Then, you must complete three years of articleship training before sitting for the final level of the Institute of Chartered Accountants of India’s examination. The Foundation Level consists of 4 papers, while the Intermediate and Final Levels each include 2 groups with 4 papers in each group for both levels, while the Foundation Level only has 4 papers. To become a Chartered Accountant, you must pass eight tests at each level (CA- Intermediate and CA- Final).
You must once more pass the Institute of Company Secretaries of India’s (ICSI) foundation, executive, and professional level courses before applying for CS. CS Foundation comprises of 4 papers, just like CA and CMA. Here, CS-Executive is separated into two modules, each of which has four exams, for a total of eight exams at the second level. CS- Professional is divided into 3 Modules, each of which contains 3 tests. bringing the total to nine examinations. Additionally, the student must complete 15 months of practical training.
Identical foundational, intermediate, and final tests are required for CMA and CA, but in this case you must sit for them through the Institute of Cost Accountants of India (ICMAI). Here, the Foundation level has 4 subjects as well, and the Intermediate and Final levels each feature 8 subjects. The student must also complete three years of practical training in addition.
What about the outcome and degree of difficulty for each of them?
Finally, but certainly not least, I’ll share the average pass rates for each of them in the most recent tries. I am unable to categorise either of them as It entirely depends on the learner whether something is easy or tough for them. To assist you understand how much work you will need to put in to pass each one, I’ll be letting you all know about the institute’s marking policies and the proportion of students who pass a given level each year.
Speaking of CA first, the average pass rate for the CA- Intermediate exam was 15.12%, whereas it was 17.11% for the finals. This was clearly significant for an educational body whose percentages often range from 8 to 10.
For the second executive level, or CS, the scores for Modules 1 and 2 were 13.54% and 16.56%, respectively. Since last percentage level, CS-Professional, were as follows:
28.59% for Module 2.
31.07% for Module 3
Now, this appears simple in comparison to CA, but each student has a different level of strength.
In terms of CMA, the average pass rate for the course at both levels up until the most recent attempt, which was held in 2019, was 45%.
So, this is what I believed I should share with those looking to enter the accounting business. I hope the questions I was asked and the answers I gave have allayed your concerns and provided a clear image of these professional programmes. and if you are looking for commerce coaching classes in jaipur, kapil commerce classes is the best.