Top myth: CA programme is tough Topper Kishen says: "You need average intelligence, lots of hard work"Discipline and the right attitude can make a seemingly unattainable goal, simple. Kishen K. Warrier, All India CA topper applied this mantra to accomplish his goal. He dispels the myth that the CA course is difficult. The syllabus is just vast, says Kishen, who followed in his late fathers footsteps... Clearing CA requires average intelligence but plenty of hard work, says the 23-year-old Kishen who lives in Kochi, Keralas business capital. My late father was a CA and I felt I had the passion for accountancy and commerce, he recalls.After topping Class 12 in 2004, Kishen enrolled in the CA programme. His reason for choosing CA, over the MBA was cost benefit analysis, he says i.e., the cost incurred in the course is much less compared to the salary one finally draws, he elaborates. He cleared the Competency Professional Test (CPT) first, then Professional Education I and II before appearing for the Final Exam, followed by articled training. Commerce graduates with 50 per cent marks are exempted from CPT, he says. The registration for CPT is open throughout the year. A student may register at any time during the year though the examinations are held twice a year in May and November Attributing his success to hard work, discipline and the right attitude, Kishen admits that the articleship, with a 9 to 5 schedule, did not leave him with much time for exam preparation, especially when he was simultaneously pursuing BCom. A meticulous planner, Kishen changed his pattern of study, devoting approximately two to two-and-a-half hours of study on working days and 10-12 hours on holidays. He wrote model papers, received coaching from the Ernakulum ICAI branch, and visited libraries for reference material.

I assigned almost equal weightage to all subjects. But some papers are more scoring compared to others, such as Management Accounting and Financial Analysis (MAFA) in Group I and Management Information and Control Systems (MICS) in Group II on which I focused a little more, Kishen said. kishens Study strategies Make a timetable. And follow it Selective study is not a good idea. But focus on subjects with scoring potential like MAFA and MICS Constantly your knowledge of tax, laws etc. Visiting finance websites like icicidirect.com and nsc.com (National Stock Exchange) can help expand knowledge.The Chartered Accountancy (CA) course is conducted by the Institute of Chartered Accountants of India (ICAI). The course trains a candidate in areas of accounting, auditing and taxation. The five-year course is structured into two theoretical sections of one year each and on-the-job training or articleship during the last three-and-ahalf years, under the Existing Course regime. But under the New Course regime articleship training is only for three years, Kishen informs us. CA aspirants can enrol in the programme while appearing for or after having passed Class 12 exam. Currently, despite having some offers on hand, his net analysis is to firm up on a job only after three-four months during the second round of campus placements. At present, he earns a stipend of Rs. 5,000 per month at Kochi-based M/s Ramachandran and KrishnaKumar, Chartered Accountants, which according to him is a back-up. How important are coaching classes? They can give a start-up and guide on topics

to cover besides inculcating a disciplined approach, he adds. But self-study is important. The total CA fee (for five years) is approximately Rs. 40,000 whereas the entry level salary for chartered accountants averages Rs. 75,000 per month. Sometimes the job openings are to the tune of Rs. 12 lakh per annum, he apprises. Internationally placed students earn Rs. 38 lakh per annum and more.

During the articleship period, one can earn stipend anywhere between Rs. 1,000-5,000 per month, he says An avid readerof Malayalam literature, Kishen also spends his free time browsing finance-related websites, keeping abreast of the stock market and watching Malayalam movies.

Puneet on cracking CS: "Work experience builds knowledge"Topper Puneet's articled training paved way for exam success. More tips. PUNEET, Consultant (Tax and Regulatory Services) with Ernst & Young, took just 24 days of leave for dedicated exam study. A Chartered Accountant qualification obtained in 2007 may also have given him an edge in his preparations According to this 25-year-old Delhi boy, his reason for attaining the CS qualification after having cleared CA programme a qualification widely perceived as tougher of the two - is his penchant for acquiring diverse knowledge. Soon after he passed out of Class 12 from St. Georges School in 2002, Puneet enrolled in CA and bagged the All India 16th rank in the CA final exam. I also enrolled in BCom (Hons) at Shaheed Bhagat Singh College, Delhi University, says Puneet. Out of the three stages of the CS course: Foundation, Intermediate and Professional (referred to as Foundation, Executive and Final Programmes after periodic course revision), Puneet skipped the Foundation level, as he is a qualified CA. Foundation course stipulates 10+2 pass as minimum eligibility criteria for enrolment. From Foundation to Professional (or Final Level), CS is of three years if completed without flunking. However, one needs to undergo training for 15 months to qualify for CS membership. Company Secretaries are much-sought-after professionals in the booming job market and have knowledge of corporate laws, governance, arbitration and conciliation, investor relations and corporate advisory services amongst other areas. Puneet was encouraged by a teacher, and his familys leanings towards the finance profession, also edged him closer to a career in finance. Puneet explains, I stay in a joint family where both my father and uncle are active investors in the share market, so numbers have fascinated me for long. His aunt has been his guiding star, ever since Puneet lost his mother while still in school. She took care of me and backed me all the way, says Puneet.

Puneet Gupta Location: New Delhi Roll No: 69537 Percentage: 68.25 Year: 2009

After completing the CA, was CS an easier proposition? I really didnt find any specific paper difficult, he recalls. But I did pay extra attention to Strategic Management, Alliances and International Trade, which is a theory paper, he recalls. Puneet did not join a coaching class for CS but focused on self-study, referring mostly to study material provided by the institute, especially for theory papers. For a few papers he found notes by Sangeet Kedia (trainer) very useful. Practical exposure is necessary, advises Puneet. Articled training in the CA course as well as professional experience in the real world widened his perspective and helped in his preparation for the final exam. Allocating between two and two-and-a-half days to each of the eight subjects, he assigned the rest to revision. Puneet lays specific emphasis on thorough revision, a must for excelling in examinations such as the CA and CS. He revised each subject two or three times. Cost of the course is Rs. 20,000-Rs. 25,000. After completing CS you could join the corporate sector or start your own

practice, says Puneet.

Puneets study mantras Memorise better by jotting down points, two or three times Cut down bigger sentences into smaller ones to help remember them without too much effort Link all points to the answers by creating a story, so that one point connects to the rest To recall the first point without fail, link the point to the question itself Using illustrations and pictures also helps. Once Puneet illustrated a factory and linked all points to the answers i.e. something or the other found at the factory For practical subjects, understand concepts well At every stage of preparation revise some questions, so that during the final days you only have a few questions to revise

Chartered Accountancy (CA)As the economy surges ahead, CAs, the financial watchdogs will be increasingly in demand. FAST FACTS Course: Chartered Accountancy (CA) Eligibility: Appearing for Class 12 exam Council: Institute of Chartered Accountants of India (ICAI) Minimum duration: 4-5 years Exams: May, June, November and December Fees: Rs. 45,000- 50,000 Website: www.icai.org Our advice: Be ready for a rigorous course. Take coaching only when necessary, since it is expensive IF THE words Chartered Accountant conjure up an image of a bespectacled person rummaging through company balance sheets, then brace yourself for a professional who is fast becoming an indispensable asset to companies. The placement figures according to ICAI this year are proof enough. The first phase of placements at the institutes five metro campuses (out of 15) in the first week of March saw 320 candidates being picked up by companies on Day 1. The big four consulting and accounting firms namely - E&Y, PWC, KPMG and Deloitte - hired students directly from training institutes in smaller cities such as Jaipur, Indore, Chandigarh and Ahmedabad, a move that was partly motivated by cost factors, too. The number of CAs on the rolls of ICAI, is currently a whopping 660,000 (up from 3.5 lakhs in 2008), showing that the course is much in demand, owing to its increasing relevance to the current business environment. Beyond accountancy CAs, today, have definitely carved a niche of their own, as compared to those with an MBA. While an accountant does the manual job of preparing the data and keying it into the computer to prepare a financial statement, it is a CA who interprets the same. MBAs on the other hand are hired in sales and marketing to deal with clients wherein they utilise their communication skills, optimally. Abhinav Suri who has worked with the corporate banking division of ICICI Bank, Delhi, says Companies rely on a CAs opinion; he or she is seen as a key strategist when it comes to the companys finances. Today, CAs are recognised as professionals with a robust knowledge of finance who have the ability to take decisions that can impact the future of the company. This is even more relevant in a dynamic global environment with an increasing need to manage risk, given the fact that many companies struggled with the recession last year. As opposed to finance

professionals who take care of the financial requirements of the company, the CA looks for the future implications and cost involved in it, says Sharad Maheshwari, a partner with a CA firm in Indore. With finance being the backbone of any organisation, a CA with an in depth knowledge of costing, funding, financing, accounting, structuring and compliance and also an understanding of the taxation regime and accounting methods, is a key person to count upon. A rigorous course Thought it involves self-study, the CA programme is intensive and clearing all three levels, needs persistence. Students can register after Class 10 but are eligible to give the Common Proficiency Test (CPT) only after they appear for their Class 12 exams. This is followed by Intergrated Professional Certificate Course (IPCC) followed by the Final Course. Registration for CPT is open throughout the year and exams are conducted in June and December. However, exams for IPCC and Final are conduced in May and November. With a need felt to equip the CA with better communication skills, all those who pass the Final exam now have to complete a 15-day course in general management and communication skills. The three-year articleship (on-the-job apprenticeship) after completing IPCC is what distinguishes a CA from an MBA or an accountant who might learn the subjects but may lack the hands-on experience and practical application of concepts for daily situations. Although the course fees are reasonable, the cost is much more for coaching classes in all subjects. The course is also reviewed periodically. In December 2008, the Accounting Technician Course was introduced to meet the huge demand for second tier accounting professionals for large, small and medium enterprises. Class 12 students can clear this exam and work for a year to be qualified as Accounting technicians. The CAs role gets meatier No one can claim to understand company balance sheets better than a CA. He primarily ensures that the financial transactions of an organisation are maintained according to the law. He also tracks cost of management of the company and manages tax matters. All companies registered under the Companies Act, are required to get their accounts audited only by practicing Chartered Accountants, thus making them an integral part of the financial departments. ICAI Placement (2010) While in a company he is responsible for preparing data, in practice No of registered candidates: 2,931 he is the person who has to check the accuracy and authenticity of Candidates offered jobs: 1,411 the data prepared by somebody else. For a practicing CA, the Candidates who accepted: 1170 responsibility involves audit and advisory. For example, if the CA is the Statutory Auditor of a company, then he or she is responsible for giving an opinion on the credibility, fairness of the accounts to the shareholders and other stake holders. On the other hand, if he is an Top hiring sectors Internal Auditor or consultant to the company, his or her primary Banking responsibilities are to the management and are similar to that of a Financial Services Finance Manager/Controller of the company, says K Information Technology Software Kalyansundaram, Founder and Partner, Kalyansundaram and Mining Associates, a Chennai-based auditing and consulting firm. From generalist to specialist Oil & Gas Refining The scope of the CAs job is fast moving beyond the traditional role. Chartered Accountancy Firms They are assuming advisory roles conducting due diligence of Iron & Steel companies involved during mergers and acquisition (M&A) deals. Heavy Engineering From being generalists, they are now specialising in Service Tax, Engineering Procurement and Construction International Taxation, Transfer Pricing, Information Systems Audit, Fraud detection (insolvency, bankruptcy), Risk Management, ERP, US GAAP, IFRS, WTO representations, property-related matters, Top recruiters investment banking, transaction advisory to name a few. ICICI Bank The fact that CAs have considerable knowledge can also prove to Genpact be a challenge! They are looked upon as trouble shooters and Infosys Technologies Limited solution providers. The biggest challenge is to meet the high SBI expectations of employers who expect us to manage any kind of Deloitte critical profile, says Tamalika De, who works as a Senior Manager Coal India Ltd (Operations) with ICICI Securities, Mumbai. Her responsibilities include supervising and reviewing daily accounting of various exchange related trades and setting new processes having financial impacts in place, a new area for CAs. Remuneration CAs also act as arbitrators who settle disputes and as executors under a will or trust in order to carry out the administration of an estate or settlements. They are also engaged in activities like markets research, budget planning, working capital management, Company CTC (Rs in lakhs per annum) Axis Bank 10.82 ITC Limited 10.61 BPCL 9.5

inventory control, policy planning, securities consultancy, registrar of issues of securities etc. Software companies and KPOs also hire CAs as Finance Managers, Financial Controllers and Financial Advisors. They can also be placed in government sector in roles such as Director (finance), Chief Executive and Head of the Department of the accounts. A well-paid profession A fresh CA passout can earn a minimum salary of Rs. 30,000- 50,000 per month, depending on the company and the sector he is hired into, in sharp contrast to the meagre stipend (Rs. 1,000-5,000) earned during an articleship. The lucrative salaries offered by international audit and consulting majors such as PWC, Ernst & Young, KPMG and Deloitte, also attract many aspirants. Salary offered depends on whether the candidate cleared CA in the first, second or third attempt or is a rankholder. Past educational qualifications and communication skills are also selection criteria for recruiters, says Sunil Goel, Director, GlobalHunt India, an executive search firm.

Amarjit Chopra President ICAI Changes in regulations, listing, convergence with IFRS, Corporate Laws, have increased the demand across sectors

Most CAs register for placements organized by ICAI in March at campuses across the country. This year the average salary offered to freshers was 6.58 lakhs. One-third of the candidates accepted jobs in the banking sector, making it the topmost recruiter. Most CAs opt for jobs but some choose to practice either on their own or with smaller CA firms. In a job you get good packages along with a brand name. With a practice, one has to struggle initially. However, it does offer good exposure and returns after some years, echoes Parul Gupta, who works as a partner with a CA firm in Delhi. Working for a smaller firm could fetch you between Rs. 25,000- 40,000 per month. Be prepared to battle it out if you plan to start your own practice from scratch. It may fetch you a salary ranging from Rs. 5,000 to 25,000 per month. The caveat though is not to be led by the pay package. Instead focus on the learning during your tenure in either a CA firm or a job of your choice.

The futureICAI is in the process of finalising accounting standards in convergence with IFRS (International Financial Reporting Standards) expected to be ready by June 2010. As a part of the move, all companies will be required to follow the IFRS converged Indian Accounting Standards from April 1, 2011. The institute has started a massive exercise to train its members in industry as well as in practice. As the Indian economy prepares itself for a phase of explosive growth and becomes an aggressive player in foreign markets, it will be the Indian CAs who will lead from the front, concludes Kalyansundaram. Aptitude for the job Interest in finance and numbers Attention to detail, focus and dedication Good analysis/interpretation skills

Specialisations after completing CA Diploma in Information System Audit (DISA) Certified Information systems Auditor (CISA) Diploma in Insurance and Risk Management (DIRM) Chartered Financial Accountant (CFA) Diploma in Tax Management (DITM) Indian Financial Reporting Standards (IFRS) Chartered Institute of Mgmt Accountants (CIMA)

Main areas of work Segment Accounting Auditing Responsibilities Prepare, analyse financial reports and documents of an organisation Check the accuracy of financial statements, ensure that the accounts presented are drawn on correct accounting principles Maintain cost auditing records, compile cost information, install cost control and perform cost audits Dealing with direct taxes (income tax and wealth tax), assessment of taxes, filing returns and providing advice on indirect taxes Examination of specific aspects of businesses for interested parties on new issues of share capital, purchase, sale or financing of a business and for reconstruction Management accounting and internal audit, Corporate law advice, project planning and finance and systems design

Cost Accountancy Taxation

Investigation

Consultancy

Undergrad, PG degrees: Bharathiar Univ, ICAIBharthiar University and Institute of Chartered Accountants of India (ICAI) offer B.B.A., B.Com., M.Com., and MBA Degree courses. Bharathiar University and Institute of Chartered Accountants of India (ICAI) (Set up under an Act of Parliament) New Delhi signed a memorandum of understanding to offer B.B.A., B.Com., M.Com., and MBA Degree courses. Institute: Bharathiar University and Institute of Chartered Accountants of India (ICAI) Eligibility: For admission into Under Graduate Programme (BBA/ B.Com.) Candidates should possess a pass at the entry level examination of Chartered Accountancy course of ICAI OR A pass in the intermediate stage of Chartered Accountancy course of ICAI. Eligibility: For admission into post graduate programme (M.Com./MBA) Candidates should be a graduate from a recognized university or a pass in the Final of ICAI OR A successful completion of BBA/ B.Com. through ICAI offered by Bharathiar University. How to apply: Click Here to download application form. You need to send a Demand Draft / Bank of India challan for Rs.100/- towards the cost of the application form in favour of The Director, School of Distance Education, Bharathiar University payable at Coimbatore. Filled up application forms should be sent to: The Co-ordinator BU-ICAI Joint Programme Administrative Building 1st floor

Bharathiar University Coimbatore - 64146 Click here to view details Address: Bharathiar University Coimbatore -46 Phone: 0422 2428400 Email: gs_fin@yahoo.co.in Website: www.b-u.ac.in

CIMA CertificationIt is for those who want to be more than mere accountants. CIMA, recognised world over, opens a window of opportunity to move up the ladder. ARE you keen on a career as a finance professional in blue chip companies like Nestle, Accenture, GE Money, Ernst & Young,KPMG, Reuters, Citigroup, Deloitte, Proctor & Gamble, Unilever,PriceWaterhouseCoopers, JP Morgan, Genpact, and HSBC, to name a few? How about the title of Management Accountant with your name, which is recognised by approx. 4,500 companies worldwide? If that sounds interesting, you should definitely consider getting aCIMA (Chartered Institute of Management Accountants)certification. The business focus is similar to that of an MBA from a top notch B-school, but the entry barriers are low you can join in with a mere pass in the 12th standard. So if you are looking for a career more in sync with the business and management aspects rather than the more routine jobs like audit, CIMA is the way to go. As Andrew Higginson, CEO Retail Services Tesco PLC says, I did the CIMA qualification and Id take people from CIMA anytime. Theyre basically business people with a finance orientation, not just accountants. What is CIMA? Founded as the Institute of Cost and Works Accountants (ICWA) in 1919 in the UK, the institute was rechristened as Institute of Cost and Management Accountants (ICMA) in 1972 and again as Chartered Institute of Management Accountants (CIMA) in 1986. In 2008, CIMA established a centre for the study of management accounting with the Indian Institute of Management Calcutta (IIM-C). With 170,000 members and students in 168 countries worldwide, CIMA has grown to be one of the most widely accepted and respected professional qualification in the unique cusp of the fields of Management and Accounting. The natural question that comes to ones mind on hearing such a qualification in the field of Finance is: how does it compare with the more popular options in the Indian context such as Chartered Accountancy (CA)/ Chartered Financial Analyst (CFA) etc. The institute claims that CIMA course has more management accounting, more business strategy, and more financial strategy compared to a Chartered Accountant/ Chartered Financial Analyst, and is hence more tuned to business requirement. In simpler terms, CIMA is more in-line with the core management issues than the rest. Earning the spurs There are a number of entry routes into CIMA. People dont have to have a degree necessarily. One can start CIMA after 12th standard, in which case the entry route would be the CIMA Certificate in Business Accounting consisting of 5 modules and having computer-based assessment which one can take any time throughout the year. One could complete this in 3 months or 6 months or any other timeframe depending on ones own pace and comfort level. People can come in with a relevant degree which is usually a BBA or BCom or an Accounting and Finance programme. If one is BCom (Hons.) from Delhi University one is exempt from the first level, otherwise such graduates enter at the first (operational) level. For a bright student, it should take somewhere between 2 to 3 years. However, there are special gateways for people with an ICWA or an MBA and they can complete the course in just one-and-a-half years. There is no time limit as such, it is left to the individual.

Structuring the course At every level an award has been built-in that provides a student the option to step-in and step-out at any point and if he steps-off in the middle of the qualification he is not left high and dry. At each level, there are certain skills that the student is expected to deliver. That can be seen from the name of the level, the Operational level is more about operational knowledge, it is about the knowledge of transactions. Managerial level is about management and monitoring, and Strategic level is about strategic decision-making. All-in-all, there are 14 exams one has to clear or get exemption to become a full-fledged professional CIMA member. Is there training/classroom teaching? No. Unlike a CA where articleship with a trained CA is mandatory, CIMA does not mandate training requirement as a prerequisite. Study centres are present in different cities like Christ University in Bangalore, HL College in Ahmedabad, LIBA in Chennai, KJ Somaiya in Mumbai, Piron in Delhi, and one can find the detailed listing onwww.cimaglobal.com/India. CIMA conducts exams in 240 exam centres in 90 countries on the same date. They are all uniform, the content, assessment, curriculum, is the same and thats the basis of their standard. Each of these exams are of 3 hours of duration.

These can be taken at anytime throughout the year and at the location of ones choice. CIMA has nine exam centres in India. The centres are British Council in many cities, and in addition all the colleges which are the study centres conduct the exams on their own campus. How much does it cost? The CIMA Certificate in Business Accounting costs Rs. 20,000 in exam fees. One has to pay extra for tuition support or study support if one opts for it. There are classes offered by the study centres and online support offered by CIMAstudy.com. The online support costs around 50 British pounds a month. For the Certificate course there is a package which costs around Rs. 8,000 for all the five modules. Then one moves on to the professional qualification. This part of qualification would cost Rs. 80,000 including CIMA fees converted into Indian rupees. If one also includes the certificate course this comes to around Rs. 1 lakh. Textbooks, which are quite detailed, are available at key distribution houses in the country, their cost is Rs. 720/- per textbook. There is one textbook per paper. In addition, there are the prescribed standard reference materials. Other material like revision kits and study kits are also available as an option. In fact, if a person starts at the certificate level, buys all the textbooks and buys CIMAStudy.com membership and completes the qualification in 3 years it will cost him/her Rs. 159,000/- in total. Recognition That is a tough call. CIMA is yet to be approved or accredited as a higher education qualification by any arm of the state or university. So it neither makes you eligible for Govt or advertied PSU jobs, though some PSUs might give weight to CIMA qualifications. Higher studies too is not an option as of now. As Dr Robert Jelly, Executive Director, CIMA says, Its an individual passport because it enables you to progress within the company you are working with.

EXPERT SPEAK: IT'S ABOUT PROFESSIONALISM" Why should one go for the qualification? Robert Jelly spoke to Nitin Jindal during his recent India tour. Q. CIMA seems to be very similar to MBA Finance A. Well, there are some differences from an MBA - even I am an MBA from University of Edmond, Scotland. See, once you finish your MBA, there is no commitment to keep your MBA up-to-date and more importantly, no commitment to any ethical code of conduct. When people join a professional body like CIMA, its at the heart of what we do, CIMA members and students commit to a disciplinary and ethical code and if they breach that code we can remove their membership and the University can take action. And I persume such a focus is important for the employer, because to my simple mind, it was this lack of ethics among other things that led to the global crisis. Dr. Robert G. Jelly Executive Director, It is similar to Chartered Accountants but only we are Chartered Management Accountants and our members never work in audit. Its not just CIMA the exams like the MBA but all our students must get three years of prescribed relevant (work) experience, not just any work experience in the fields of Financial accounting, management accounting, preparing budgets/forecasts, also experience of communicating with non-finance people. Q. What is the general pattern of students gaining the 3 years work experience required in CIMA? A. A student can do that in a number of ways, he can either complete all the exams and then go into the workplace and gain the experience. Most of our students do both the things at the same time. They are working full-time and studying part-time. This might result in them taking a longer period to complete. Q. How rigorous are the studies? A. Very rigorous, we have a Global Gold standard in Management Accounting training and thats recognised globally by MNCs and other companies throughout the world. Course is rigorous, pass rate is not as high as we would like but thats a demonstration of our quality. The other thing is that students, wherever they are studying, we have hundreds of exam centres throughout the world. They all sit for the same exams, they are all marked by the same professionals. Q.So basically you are ensuring academic rigour through the student passing the exam? A. Yes, thats right. Through our assessment, thats the control point. For the non-graduates we have a threshold called the CIMA Certificate in Business Accounting. For people who dont have any formal qualification, if they complete the five modules therein, then they are allowed to come into our professional exam. People who are graduates, of course, come in at a higher level, they come straight into what is called the professional qualification. Commerce graduates from across the country are generally exempt from these 5 modules. Q. How many companies or employers recognize CIMA? A. We have got about 4,500 employers globally who are using CIMA in one way or the other. More importantly, weve done one survey, we do this regularly, weve found that in all the markets we work

in, both CIMA students and members command quite a significant premium than our competitors who are basically plain graduates and postgraduates.If you have questions on CIMA certification programme, post your queries at the bottom of this article. The author will answer your queries.

CA topper Arti Jain from Bikaner: "Articleship is a must"All-India second ranker Arti from Bikaner says that her articleship enhanced her knowledge. More success mantras! THE Institute of Chartered Accountants of India (ICAI), today, announced the results for the Chartered Accountants Final Exam. And the results threw up two surprises! One, all three toppers are women. Two, Arti Jain from Bikaner, a small town in Rajasthan bagged the All India second rank, clearing the exam in the minimum possible duration of four years! This makes her a CA within a year of completing graduation. Careers360 caught up with Arti to know her success mantras, preparation strategy and tips for CA aspirants. Fast Facts Name: Arti Jain Exam: CA Final All-India Rank: Second Score: 588/800 Roll No. 47305 Location: Bikaner (Rajasthan)

Check your CA final exams & CPT results!Q. Arti, congratulations on your success. Did you expect to be among the toppers? A. I didnt expect such a high rank. I was confident about clearing the exam but never expected to secure a second place. I logged on and saw the result but did not notice the rank. When my friends called me then I realised that what I had accomplished! Q. What made you decide to become a CA? Tell us about your background. A. I belong to a business family in Bikaner. My family background oriented me towards business and accounting. My younger brother is also preparing for the CA. After schooling from Sofia school, Bikaner, I decided to take the CA exam as it matched my aptitude and is a rewarding career. I enrolled for Common Proficiency Test (CPT) in the first year of B.Com. Last year I completed my graduation from Jain Girls Degree College, Bikaner. Q. What was your study routine? A. I never believed in studying 17-18 hours a day but was very regular. I studied for 5-6 hours everyday without fail. And so my schedule wasnt very different during exam days. I slotted my study routine early in the morning waking up at 5 am. Anyways, I cant keep my eyes open beyond 10 at night. Q.How did you prepare for the exam? Any special strategy adopted by you? A. Some people ignore Articleship to focus on theory subjects. But I took articleship very seriously and it enhanced my practical knowledge and its applicability. It also helped me to understand complex theoretical concepts. I ensured that I give proper time and attention to all the papers. The routine required a lot of discipline and time management. There was no special strategy as such. It was a focused self study. Q. Do you think coaching is important? A. Of course! For an exam like CA, one requires regular coaching and guidance. In my case I got guidance from my graduation teacher. I also got in touch with a few coaching centres in my city and procured study material from the centres and various other sources. Good coaching matters but self- study and a disciplined study routine is equally important. Q. You never thought of going to a city like Delhi for coaching like many other students? A. The big city does matter in many ways and my younger brother is also doing CA coaching in Delhi. But I completed my entire education and preparation in Bikaner. I think there are enough examples to show that in competitive exams like CA,

students from remote areas and small places can also prove themselves. Q. Who inspired you the most? A. The biggest inspiration has been my parents and family. I belong to a traditional Jain family where we live in a big joint family. I find such kind of environment very supportive. Q. What do you like to do when you are not studying? A. Honestly speaking, I do not get much time from studies. Till school, I was very active in extra-curricular activities like debates and in drawing competitions. Now, I will try and devote time towards my hobbies. Q. What was your study schedule? A. I used to take up three subjects a day. I am an early riser. I finish my studies by 11 pm. I had a good grasp over practical portion of the syllabus. My personal favourites areg Accounts and Costing. I never counted the number of study hours. The focus was on topics to be completed and not on how many hours I have studied. Q. Your advice to CA aspirants. A.Hard work never go unrewarded. There are plenty of opportunities surrounding us, the only need is to make sincere efforts from our side. Artis suggested readings: Munish Bhandari for Law Bangur & Bangur for IDT

The Institute's Study Modules & Practise Manuals for all other subjects

CA top ranker Maitreyee advises: "Keep your cool!"Time management, solving ICAI previous year papers will help you ace CA exam. MAITREYEE Narayansingh Rajput, who hails from Panchal, a small village in Maharashtra, stood first in the CA Final Exam. Daughter of retired high school teachers, she did her schooling in Ratnagiri and completed her education in Pune and Kolhapur. She shares her journey of success. Fast Facts Name: Maitreyee Narayansingh Rajput Exam: CA Final All-India Score: 596 Roll No: 17525 Location: Pune Q.When did you decide to take up CA? A. It was in Class 10! So, inclination towards commerce was natural. I joined Brihan Maharashtra College of Commerce (Pune) to pursue BCom. My parents untiring support helped me consistently excel in academics. I got the third rank in Senior Secondary School at Kolhapur district level followed by first rank in Higher Secondary School Exam at Pune district level. Q.Do you think articleship and coaching is a must? A. Yes. For coaching, I joined A S foundation, Excellent Academy and Swapnil Patnis classes. In my opinion, coaching is important but at the same time it is also not sufficient. Personally, I stress on self-study. On the other hand, the articleship is the most crucial part of CA programme. Students get excellent exposure to various areas of finance and accounting. It would be difficult to swim in the accounting world, if you dont have a hand-on-experience. I worked with two firms - Sastakar Vaidya & Co and P G Bhagwat. Q.Share your time management mantras. A.I started full-fledged studies six months in advance. I used to study for eight to 10 hours a day. I had made my time-table and tried to stick to it. For practical subjects like Accounts, SFM, Costing I invested a lot of time in practising. Q.Any tips to cope with tough papers? A.In the last few days, I started solving ICAIs previous years papers. I used to self conduct exam for myself. It was a challenge to beat time! I used create an exam like ambience on my study table. For me, Information System Control Audit (ICSA) and Indirect Tax (IDT) were easy papers. Rest of the other subjects were pretty difficult, especially Costing and DT. In

the Costing paper, I kept my cool and solved those questions about which I was confident. The tougher and tricky ones needed more time, so I approached them at the end. Q.What next after this euphoric moment? An MBA? A.I have not made up mind for further studies. I want to relax and settle down in a good job. I want to give my best at the job I take up next. For me focus is important. I will start thinking about MBA once I am fully confident about my job. Suggested reading: Direct Taxes: Vinod Gupta Accounts (Accounting standards): D S Rawat & M P Vijaykumar Indirect Taxes: Dipak Gupta Law: Munish Bhandari ICAI practice manuals ICAI publications (Recent circulars, notifications, case laws, suggested answers and RTP) Coaching class notes

Meet CA topper Charmy: Theories can be interestingThe last 4-5 months should be focused only on your studies. MUMBAI-based Charmy who bagged the third rank in the CA Final Exam, belongs to a family who relates well to financial jargon. Quick tips from her father, a tax consultant, and her siblings who are practicing CAs, helped in acing the exam. Her go-getter attitude reflects not only in her academic record but also in other aspects of life. Read on to find more. Fast Facts Name: Charmy Suresh Sheth Exam: CA Final All-India Rank: Third Score: 586 Roll No: 08530 Location: Mumbai Q. What made you pick CA as a career option? A. It was love for numbers and the prestige associated with the field which inspired me to choose it. Doing CA and clearing it up in the first attempt is a tough luck. My brother and sister who cleared their CA finals motivated me to crack it in the first attempt. Q. Is this your first big success? A. No. I cherish those years when I was chosen as head girl of my school. I had a proactive, socially responsible and academically strong image. Winning trophies in the inter-school elocution competition gave me an edge over other students. It was a special feeling of being a teachers pet then! Later, my goal was to do my best in my chosen career. In fact I got All India 10th rank in CPT (CA foundation paper) scoring 90%, followed by ninth rank in my third year of BCom at Narsi Monji College of Commerce, Mumbai. Q. How did you cope up both articleship and college? A. I am glad I sailed through that phase; I was out for 15 hours hopping from college to work. Balancing my schedule was at times, hectic as office comes with endless responsibilities. The real challenge was to prove myself in both places. I never wanted to compromise one for the other. So, I made sure that I attended my college lectures regularly. Luckily, it was not a lonely journey as 90% were CA students in the college. We shared similar sentiments. Q. Earlier CA exams were conducted in 8 days, consecutively. No breaks. Now, it is an alternate day schedule. Does it help? A. Yes, it helps immensely. In the alternate days you get enough time to study. It comforts you to revise more. I also observe that a one-day preparatory holiday is not enough for most students. And the reason is that they do not plan well. Last-minute studies require a good planning. Q. So, what was your study mantra? A.Failing to plan is planning to fail is a mantra I randomly read somewhere. After contemplation, it was interesting to note that I was following it since childhood. My studies were all well-planned. I had made a small diary in which I used to design a 15-day timetable. I took two subjects in a day one theory and the other practical. I was clear at what time I have to carry Subject 1 and Subject 2. Every evening post studies, I would take stock of chapters finished on the same day and subsequent days. Before sleep, I used to always put down black and white. My timetables are always on paper. Discussing

verbal time table with friends mostly go vain. Your mind can forget but paper hits your mind. Q. How many of hours of study? A. I am an early riser. So, my preparation begins with the fresh mind. IAt that time, due to some construction in front of my house, it was difficult to fully concentrate. I joined a 24X7 library where I used to spent nine hours of the day. I am thankful to that library in every sense I got peaceful space and dozen passionate CA friends. We all turned out to be very resourceful and helped each other as we used to discuss, share notes, books and views. Q. How did articleship and coaching help you in the exam? A. I joined J.K Shah classes at Andheri, Mumbai which helped in conceptual clarity. My articleship at Purvesh & Associates, Borivali, Mumbai was icing on the cake - It gave me practical exposure on audit and taxation. The audit and income tax paper was a breeze. My boss, who is also an All India ranker was a great motivator at work. Positive colleagues and meeting clients helped me gain confidence. Indeed, I got a good grip on the subject and work life. But at the end of the end, both coaching and articleship is important, but it is supplementary. Individual efforts are must. Q. Did you feel any pressure during your exam? A. My regular yoga exercises helped me release out all worries. I used to do pranayams before I left for exam. I was very calm, relaxed during my exams. I would not carry any materials to my exam hall. I would rather break my calm cycle if I start flipping pages at my exam hall. I believe you just have to give your best and rest will fall in its place. Q. What next after this euphoric moment? Do you want to study further? A. Definitely, I have a knack over financial analysis. After I finish my articleship and one year CAT preparation, I plan to do MBA in Finance. I dont want to hurry as I believe in step by step approach. Q. What is your advice to future CA aspirants? A. Most people find theories dull there is a negative attitude towards it. You can find it interesting if you give a repetitive read. Mugging up doesnt work in CA. One should understand the objective of XYZ chapter. Focus is must. The last 4-5 months should be only dedicated to studies. Also, dont go for random study. There are limitless books in the market. Believe me 90% the books will say the same thing. When I go to a book store I check how I feel about the book format, font, readable quality. Shuffling books is sheer wastage of time and energy. So, settle down with one book. Suggested reading: ICAI Study Modules/Practice Manuals Advanced Auditing and Professional Ethics: VK Agarwal Corporate and Allied Laws: Munish Bhandari

CS topper Geetika's advice: NO shortcuts to success!No coaching and hard work is this toppers mantra.

GEETIKA BHATIA hails from a small district in Jaisalmer, Rajasthan and managed to clear her Company Secretary exam with a second rank, sans coaching. As a student of Chartered Accountancy, she saw the exam as a step towards her larger goal. She opines that there is no substitute for hard work and perseverance. In her free time, she loves spending quality time with her friends and family, and her hobby is...dancing!

FAST FACTS Full Name: Geetika Bhatia Date of Birth: November 6, 1989 Parents Name & Occupation: Rajan Bhatia - Businessman, Gayatri Bhatia Homemaker Schooling: Air Force School, Jaisalmer College & Subjects: BCom at SKB College, Jaisalmer Score in CS: 484/800 Rank: Second Hobbies: Dancing Q. How was the news of your success broken to you? A. I was informed about the news by my close friend, who sent me a

message on my mobile phone congratulating me for the 2nd rank in CS exams. I was immensely overjoyed to hear it and then went ahead and checked the result myself. Q.When did you decide to take up CS? A. At present, I am pursuing my Chartered Accountancy. I intended to upgrade my profile, as I continue with my studies. It was necessary to gauge my strengths and weaknesses. So in August 2009, I decided to take the CS examinations and started preparing for it. Q.In how many attempts were you able to achieve success? A. I believe am immensely lucky as I managed to clear all the stages in my first attempt. Q.Please tell us about your life as a student? A. I would say student life is the golden era of a human beings life and the most beautiful phase. I have always tried to persevere towards my goals and ambitions and taken them up with challenge. Courage and dedication are my two important weapons. I have taken up every endeavor in my student life as a battle, fought with valor and managed to win the situation. Q. How important do you think training is to become a competent CS? A. Like in any other sector, training is important to gain a practical experience and understand industry trends. It exposes an individual to the current industry practices, its prospects and future. It would not be possible to cater to your clients in best possible way, unless you have a hands-on training. So I believe training is a prerogative and essential to become a competent CS. Q. How do you usually spend your time if you are not studying? A. I have a very loving and supporting family. I love to spend my free time with them and enjoy every single moment of it. Also, I have numerous friends and its always a treat to catch up with them in my free time. Q. How do you now intend to plan your career? A. CS for me was only a step towards achieving my larger goal of becoming a CA. I needed to understand, where I stand with respect to my preparations. As of now, my rank in CS has given me a lot of motivation to work towards my CA completion. Once I complete my CA, I would take a call on how to pursue my career. Q. Did you take any guidance for preparation? A. I belong to a small district in Jaisalmer, which doesnt really have many proper educational institutions and coaching centres. I tried to seek guidance from my seniors in college and other acquaintances, who had given CS examinations. However, major part of my preparation was my effort. Q. How good are coaching institutes and what should one be cautious of, if you choose one? A. I dont know how to respond to the importance of coaching institutions. I did not take any coaching for CS examinations. I just gave in my 100% in preparation of the course and got little help from my seniors. But if I had to comment on the precautions regarding coaching institutions, I would say that dont go by elaborate advertisements endorsing complete success. Do some research on your own, regarding the results and success rate of the various coaching institutions in your vicinity. Talk to your friends and seniors, who have attended these institutions. Then choose the institution which has shown best possible results. Q.Your message to the future CS aspirants... A. After having cleared the CS successfully, I can only tell my aspiring friends that there are no shortcuts to success. The only mantra is to work hard and give your 200%. The other things will fall in place on their own. Q.Could you list the prominent study materials, books that you consulted for preparation? A. As discussed earlier, I did not have access to any coaching institutions or much guidance. The only material which I studied was the study modules and the scanners. I guess, if these materials are studied thoroughly, they are extremely useful in clearing the examinations.

Vipassana helped CS topper Sneha focusIt is not as not as difficult as it seems. Organise your time. Plan and strategise, is this toppers advice. A First Class student throughout, Sneha recently completed B.Com at Lucknow University. Aiming to make a career in the banking sector, Sneha shares that she cracked the CS Finals in her first attempt using strategy and time management. Regular study is the key to success, maintains Sneha who practices Vipassana, a form of meditation, which helped her to focus. FAST FACTS Name: Sneha Singh Exam: CS Professional Programme (June 2011) Rank: AIR third Score: 479/800 Subjects if interest: Company Secretarial Practice; Financial Treasury & Forex Management Date of Birth: September 8, 1987 Father: R. P. Singh (Manager, in General Insurance Company); Mother: Poonam Singh (LLM) Schooling: St. Fidelis College, Lucknow Q. How was the news of your success broken to you? A. By a friend on Facebook. Then I checked my result on ICSI website. I was content with passing all groups with decent marks. I wasnt expecting a rank! It was one of my lifes greatest moments. Q. When did you decide to take up CS? A.After completing graduation, alongside Chartered Accountancy course, I decided to take up CS. Q. Please tell us about life as a student A.I was an all rounder till Class 12. I participated in debates, quizzes, sports and various other competitions at both district and state level. I had a rich co-curricular exposure. After Class 12 I channelised all my energies into studies for CA and CS. Life has been a mixed bag of struggle and success as a student; I do what I love and love what I do. Q. Please tell us about articleship and future career planning ? A.I have done my CA. articleship and will apply for exemption from training after three years in job. Now, I will be joining Bank of Baroda as a Manager (finance). I am looking forward to work with the bank in a corporate Banking profile. I am moving to Mumbai for the same job. I was selected through campus placements. Q. How important do you think training is to become a competent CS? A.Training is extremely important; application of theoretical knowledge to practice gives an overall picture and a command over the subject. Q. What was your strategy for the exam? A.I stuck to the modules provided by ICSI on daily basis, and I also practiced with previous years papers. I marked the relevant portion in the books using the scanners (collection of previous years papers), and studied the weightage of chapters and worked accordingly. I gave special attention to how I presented the answers in both theory and practical papers. Q. Did you take any guidance for preparation? A.Yes, I took a lot of guidance from my immediate college seniors and teachers for the approach required for each subject, preparation time, organizing and planning. Q. What is your perspective of coaching institutes? A. Coaching institutes do provide an indepth knowledge on the subject under consideration. But please choose the coaching of renowned teachers, having expertise in core areas. Not the ones who are providing solution under one roof! Q. What is the future of a CS in the country? A. CS are the intelligent tools that corporates have to provide timely compliance with laws and cover grey areas. They have plethora of opportunities both in practice as well as job. With the onset of hundreds of acts, notifications and amendments, CS plays a serious role of a compliance officer. CS have a very bright future.

Q. How do you usually spend your time when not studying? A.I hang out with my close friends and family, watch movies, listen to music, and practice Vipassana meditation. Q. Your message to the future CS aspirants. A. My serious request to all CS aspirants is please give all modules at one go. It is not as not as difficult as it seems. Organise your time. Plan and strategise. Ask solutions for problems, there is an answer for each one. Magnify your strengths and work on your weaknesses.

Meet Mahima Kapoor, CS topper (Rank 1)Hailing from Satna, Mahima advises students to choose their coaching institute wisely and to attend class regularly.

MAHIMA achieved success in her first attempt in the Company Secteray final exam, and shares that self-study is more than sufficient for success in this exam. She also urges students to choose their faculty wisely in case they consider coaching. Mahimas father Mohan Kapoor is a manager with a construction company and her mother Usha Kapoor is a teacher, and her hobbies include painting, reading books and watching films. FAST FACTS Name: Mahima Kapoor Exam: CS Professional Programme Rank: All India First Date of Birth: July 19, 1989 School: Christ Jyoti Hr. Secondary School, Satna (MP) College: Shri Rama Krishna College, Satna (MP) Course: BBA with specialisation in HR and marketing Q. How did you feel when you got the good news? A. I got the news in office where my colleagues were very excited to know my rank. They all stood up and clapped for me, and that was an overwhelming moment for me. Q. When did you decide to take up CS? And in how many attempts did you crack it? A.I decided to pursue CS as my career when I was Class 10 as it is a reputed profession. After completing my graduation I started with my CS course.I have cleared the Executive programme (AIR 13) as well as Professional exams in my first attempt Q. Please tell us about your life as a student A. My life as a student started from my home - my mother is my first teacher. I started my schooling from my hometown (Satna) and chose the commerce stream in Class 11. In my entire school life I have never taken any coaching or private coaching classes. After my schooling I joined graduation in my hometown and did a BBA, after which I joined CS in 2009. . from I cleared the executive level in June 2010 and professional level in June 2011. Q.Tell us abour your articleship A.I have started my Articleship after my exams in June 2011, with Prestige Group of Companies in Indore. Q. Is training important so as to become a competent CS? A.Besides being a compulsory, this 15 months training is very important because in the class we only get to know about relevant laws and their provisions but how to implement these laws practically, this is part of our training. To become a competent CS we must have practical knowledge of all the procedures n their compliances. Q. How do you spend your time when not studying ? I usually spend my time chatting and hanging out with friends, watching TV, movies and reading books.

Q.What would you like to do after CS practice or higher studies? A.Ill go for a job in a company. But I would also like to do an LLB to support my career. Q. Did you take any guidance for preparation? A. I joined Nahata Professional Academy in Indore for CS coaching. I have not referred any other books other than the institute study material and the notes provided by my coaching Faculty. Q.Your strategy at every level CS is a three level course - Foundation, Executive and Professional level. I skipped Foundation as I was already a graduate. My Strategy was to attend classes regularly and be attentive in classes. I gave myself one months time for self-study in the Executive and Professional level. Q. How good are coaching institutes and what to be cautious of if you choose one? A. As there are no colleges for CS students these coaching institutes are very helpful as CS is a law field, and to get complete knowledge and understanding of our syllabus it is important to have good mentor. The most important subject is Company Law and Im lucky enough that I got a mentor like Mr. Tanay Kasera who has a good command in this subject. While choosing any coaching we must be cautious about its faculty and regular classes. It is very important that they are referring study material for preparing for exams. Q. Your message to the future CS aspirants A. Good luck, be attentive in classes and grasp laws properly.

"No fulltime job for me," says CA topper PavanAll India third ranker in the CA Final exam, Pavan Pal Sharma from Bangalore, shares that articleship gives you the confidence in the world of work. AN All India Rank holder at various levels of the CA programme, Pavan Sharma has done it again in the CA Final Exam! Son of a commerce teacher, Pavan wanted to pursue CA since his school days. Hailing from Bangalore, Indias IT hub, he was determined to do something other than IT! He owns an investment banking firm in Bangalore and believes that setting up an organization is far more challenging than taking home a bonus. Pavan, also a topper of Southern India Regional Council (SIRC), ICAI and an advocate of study smart rather than study hard shares his preparation strategies and future plans with Rozelle Laha. Fast facts: Name: Pavan Pal Sharma City: Bangalore Exam: CA Final Examination- November 2011 Rank: AIR third and SIRC topper Roll number: 107594 Marks: 589 Percentage: 73.63 Graduating college: Sri Kumarans Pre-University College, Bangalore Q. Congratulation Pavan. When did you decide do a CA? A. I had decided to do my CA when I was in class 9. CA seemed to be a good option as my father teaches commerce and the subject/course seemed close to my heart. Q. Is this your first big success? A. After my 10+2, I wrote my CPT examination. I achieved 7th All India Rank (AIR) in that exam (August 2007). I also appeared for CA PCC exams in June 2009. I acquired an AIR 30 in it. Q. Did you do an articleship?

A. I have done my articleship with Balakrishna & Co., Bangalore for 3 and half years. I was one of the first article assistants of my Principal. I decided to do an articleship with some company where I could actually learn. I got the opportunity of handling good audits, transfer pricing, due diligence and attended a few hearings at the IT offices. Read: Course review on Chartered Accountancy (CA) Q. Does doing an articleship help? A. Articleship gives you a practical exposure to what the real world is. What you get to do at a CAs office is very different from theoretical knowledge. Articleship gives you confidence to face the world. It is an important aspect of our course and that is what sets us apart. And if you get to do your articleship with some good brand, then your future is made. Q. You cracked CA finals with a good score in your first attempt. Tell us something about your preparation strategies. A. I have always stood by the fact that each one need to develop a strategy for oneself. My strategy was to study smart rather than study hard it always helps. I am firm believer of conceptual learning. That is what will save you in those 3 hours of exam. Learning by rote is not a safe option at any level of professional examination especially CA final. I cannot put down my study hours in numbers all I can say is that I slept, ate and studied. Q. Do you think coaching is important? A. My tutor always used to say if you wish to pass do not come to tuitions. If you wish to become a good CA then come to tuitions. I think that would answer most of the questions in a succinct manner. I attended classes for four subjects out of eight. I do believe coaching is necessary, but not to the extent that you outsource your thinking too. Tuitions arent everything. Q. Do you want to continue studying? A. I wish to pursue a career in Actuarial Sciences Finance sometime later in the course of my career. Q. You have your own company. Tell us something about your concept of entrepreneurship. A. I run my own company, Equidebt Corporate Advisors Private Limited. We are investment bankers based out of Bangalore. I find it morally pleasing to work for myself than to work for somebody else. I know that if I do go out for employment, I would be able to earn well. But then again, money isnt everything in life. I wish to take my company to new echelons. Q. Your advice to CA aspirants. A. My mother once told me, Exams are only a phase in your life. I completely agree with her. Getting bogged down by pressure due to exams will not get you anywhere in life. Just believe in yourself. You can do anything in this world.

Financial researcherAn excellent command over finance, a clear understanding of economy, a fine nose for business cycles - all contribute to the making of good financial researcher. FAST FACTS Job profile: Financial Researcher Desired Qualification: MBA finance, Chartered Accountancy Schools that can be considered: IIMs, NMIMS Pune, MDI Gurgaon, IMT Ghaziabad, ISB Hyderabad, XLRI Jamshedpur, FMS Delhi University,ICAI (for CA) - pan India centers Recruiters: Investment banks - Barclays, Citigroup, Nomura Securities Insurance companies - LIC, ICICI Prudential Life Insurance PE firms - Chrys Capital, ICICI Venture, Baring Private Equity Partners,Sequoia Capital Consulting Firms - Ernst & Young, McKinsey, Boston Consulting Group A FEW months ago stock prices of three mining companies declined, leaving potential buyers uncertain which one to buy. As a retail (individual) investor, you will also ponder on the best bet, going over basic calculation and mostly likely, relying on hunch to choose one. A researcher, however, will nail the winner, almost correctly, based on empirical data factoring in a whole host of features. For instance, companies market share, mining tax, volume growth assessment, enterprise value to earning before interest and so on. It is a researcher who can take the following aspects into account to arrive at a profitable company for you. For instance, he

would examine parameters like companys spend on R&D. If Company A is spending more than its competitors on R&D, then to what extent it is likely to impact the cost structure of the company in future and whether it would give you capital gains, to what extent and at what stages. Or whether Company B is likely to give better profits because its mines are located in Maharashtra or Madhya Pradesh, which have a reasonably well developed infrastructure. These intense analyses based on a range of factors is best left to competent professionals, who are financial researchers and whose recommendation scope goes much beyond the realm of individuals; to Institutional Investors and global capital markets. Demand for Financial Researchers We live in such an era of financial market integration, trade liberalization, mergers and acquisitions that if US financial markets sneeze, rest of the world catches a cold. Or if Euro zones financial behaviour indicates a downward trend, markets all over bob in lows and ups. Thats how integrated the world is. So, as the character of financial markets changes, finance functions of corporations also shift focus, moving from traditional to a whole new host of activities like global investments, financial planning, risk-hedging etc., re-defining the role of researchers, making it all the more significant. Study of finance has become mathematical, says Prof Michael Barnes, Dean, Jindal Global Business School who has worked with The World Bank and possesses 25 years of work experience with various banks. Having closely observed the market trend over years, he indicates that a good researcher in non-academic finance sector needs to go beyond MBA finance studies to Economics and Maths. The banks, finance sector, corporates and consulting firms seek research professionals who have concentrated knowledge in finance markets. Those who want to focus on academic research, would, however, need a fairly advanced degree of mathematical skills for quantitative analysis, says the finance professor. The demand for researchers in both these areas is increasing because there is a need for a positive financial engineering to combat current extraordinary situations of debt crisis, rising deficits and introduction of financial discipline to safeguard the investments and pension funds of common man. Institutional and retail investors are looking for risk-free investment instruments. Playing the part A financial analyst is not to be confused with a financial researcher (FR). An FR plays much bigger role than a financial analyst. FRs are involved more in core and high end financial activities than financial analysts, says Prof. Pratap Chandra Biswal, Associate Professor (Finance), MDI. While analysts make presentations to clients considering a company investment, or produce reports and ratings on a company, an FR develops financial and risk management models for companies making recommendations to senior management, valuing corporate deals like M&A. For example, they also suggest venture capitalists whether to invest in private equity firms, Biswal gives further drift on the function. Their functions overlap. Consulting firms use FR expertise in valuation of companies. FR takes into account companies different businesses and different phases in business life cycle, embarks on risk assessment and study other details with an aim of presenting a viable, profitable model different from the existing one. Some researchers, lets say, in an investment advisory company, will only focus on investor relations. Some, in banks, for instance will focus on equity or bonds or on assets and liability etc. With experience, analysts move on to researchers role. Thats applied research, says Prof. Barnes. Unlike corporate professionals, those interested in academic FR role, would test theories along with applied research, and focus on creating new models and techniques, while challenging the old theories and practices. They also focus on identifying future trends and long-term growth prospects. Finding employment Jobs exist in Investment banks, Insurance companies, credit rating agencies, private equity firms, mutual fund houses, hedge funds, consulting firms, trading exchanges and financial market regulators, among others. MBA Finance candidates, right out of school, are hired as financial analysts preparing research reports for companies, applying valuation models, tracking stocks. CAs, equipped in accounting practices, are mostly hired for managing accounts, funding requirement and tax management. A combination of CA and MBA or CFA and MBA is much sought after for analysts and later, a researchers profile as experience is imbibed. Prof. Uday Damodaran of XLRI says that during the course students gain familiarity with quantitative and qualitative analytical tools and are therefore good match for research profiles. B-schools are active in roping in industry players as well for better placements. For instance, early this month Narsee Monjee Institute of Management Studies (NMIMS), tied up with Amba Research, a global investment research firm to offer a corporate valuation/equity research programme for finance professionals. XLRI held private equity conclave Gnosis 2011 in Mumbai in November calling Industry experts, thereby providing a platform for its students to seek employment. Equipping oneself for international markets? As per Prof Barnes, most MBA finance students in India are weak in communication skills, team work and in global perspective. He explains, In official roles, team work is needed and not interpersonal competitiveness. In order to gain overseas placements, course curriculum should have more of global case studies than dominating India-centric cases. In a nutshell, a polished communication skill along with a global outlook would make a local, a transnational employee. Salaries of a fresh MBA fluctuates greatly depending on B-school, previous academic background, place of job location, the company

which hires etc. Mumbai, the commercial hub, for example pays more than Delhi. Therefore, one fresher may start with Rs. 20, 000, while the other may enter the market at Rs. 50,000 or more. Be the Best A good researcher would abstain from forecasting or predicting the markets. He would not play an astrologers role, says an expert. Neither would he generalize the data, agrees Prof. Barnes. One of the reasons why sub prime crises inflicted havoc on American market in 2007 is the usage of old data, he adds. Have an open mind to learn new developments in industry, read financial news from around the world, and enhance your financial IT software skills. It is essential to develop proficiency in spreadsheets, databases, learning financial models and their applications, says Biswal. In addition to domain skills, communication, people and networking skills are an added advantage. College-fresh candidates enthusiastically go on an over drive, without getting into the depths of detail and cross verifying the data. This should be avoided at all costs. It is a mistake that costs heavily to you, company and the client. Money managing is a science, which entails the art of handling money and people. People put faith in your expertise. So, get a blend of both and dive into the exciting world of finance! NIIT University (NU) in partnership with ICICI Bank offers a new degree, MBA (Finance & Banking), to working professionals with minimum three years of full-time experience. We reviewed this industryrelevant MBA that offers equal-duration training in the classroom and industry. Read on...

Researchers more demand now Judhajit Das, Chief Human Resources, ICICI Prudential Life Insurance tells companys requirements while hiring researchers and more. Q: Are financial researchers more in demand now? Why? A: In companies like Insurance, MFs and brokerage houses, Investment analysts/researchers have been around from the last decade or so. However, in larger business or conglomerates, researchers expertise for strategic decision making and fund raising is being felt and these groups also have built in-house capability to employ them as they operate globally, that too with multiple businesses. Q: Where exactly do MBA finance students find the most appropriate fit? A: Its in the BFSI sector. However, they are required in non-financial corporate as well. Their typical roles would be in the area of audit, financial control, and business planning, treasury and investment operations. In terms of our preference, we are open to both MBAs and CAs or for a candidate who has attained any other reputed financial qualification. However, in functions such as audit and accounting we prefer CAs as they are inherently more suited for the job. Q: Could you name a few colleges that ICICI visits to scout talent? A: For Investments, finance and marketing functions, we approach IIMs and other reputed business schools like Welingkar, S P Jain etc. Their average salary is Rs. 10 lakhs excluding variable pay. Cultural and role fitment coupled with good communication skills, interpersonal skills and an aptitude for financial analysis are all given due consideration before hiring. Your role as a researcher in various sectors and set-ups: Corporate Firms - A researcher in, lets say, ABC steel firm, will track the overall steel sector including its competitors performance, companys own financial position, deciding on investment destinations, assessing financial implications like

business viability, risk versus return, level of equity/debt exposure, investment, exposure in instruments that maximize profit while minimizing risks, capital restructuring and so on. Banks - A researcher would assess how much credit cost per head would be viable. What interest rate should be charged, what financial planning dynamics can be charted out for an individual and a family with diverse needs. How much is the bank surplus? How much ought to be invested in stock market. Works on asset-liability mismatch. Investment Banks - Assisting corporate clients with research on sectors, companies, regulatory compliances. Enabling clients to contextualize and disclose relevant financial data. Insurance Companies - right from statistical calculations in determining premiums, to surplus fund investment, to raising capital from equity markets. Mutual Funds: Researchers here access the overall economic position, the stock market position, within it, the sectoral composition, planning and distributing risk over sectors, studying individual scrips, seeing their fundamentals and their performance, investing after appropriate due diligence. PE and VCs When an individual approaches them seeking investment in his/her idea, the researchers prepare a financial intelligence report detailing if the business is sustainable, what would be the degree of returns, how much capital should be disbursed at what phases, whether after a few years, what would be the valuation of the ideated company, what would be its market capitalization, whether it can be listed on the stock market etc. Hedge Funds - cater to wealthy individuals, the money rotates world over in mature and emerging markets, seeking best investment opportunities. The researcher should have know-how of the emerging trends in capital markets, various markets economic health, and its socio-political climate as well. Consulting Firms/Corporate clients - Company may want to diversify, expand or shut down its business/s or consolidate its position. Researchers seek financial intelligence to achieve the companys goals, provide consultation, also give tax and other finance-related services.

CS First ranker Shruti: Treat course books like novels20-year old Shruti, who is simultaneously studying for CA, aims to join the Indian Revenue Service (IRS) in the future. MEET Shruti Goyal from Ambikapur, Chattisgarh who topped CS in her maiden attempt. For this topper, CS success is another feather in her cap. She topped through school, achieved 6th rank in CA-PCC level exam and is a recipient of the ICAI scholarship. Belonging to an ancestral business class family, her father Sajjan Goyal (Manager at Regional Gramin Bank, Chattisgarh) understands the value of higher education. He has a double MA, and encouraged his children to get into CS, CA and IAS.

As for Shruti, coaching was not her cup of tea. She sailed through all exams with the support of her CA brother and sister. After CA, she plans to get into Indian Revenue Service (IRS). However, hailing from a Hindi medium school, she feels the language barrier is psychological. She shares how she approached CS modules in English and made it a success. FAST FACTS: Name: Shruti Goyal City: Chhattisgarh Exam: CS professional level Rank: 1 Marks: 512/800 Percentage: 64% Q. Congrats Shruti. Tell us a little about your background. A. I come from an academically-driven family. My father did his double post graduation (MCom and MA in Sociology). And both my elder brother and sister are chartered accountants. Q. You did your schooling in Hindi medium. How did you confront CS modules scripted in English? A. The barrier is psychological. I studied in a Hindi medium school in a small village called Bariyon, Chattisgarh. When I switched to English for professional course after Class 12, I had to break that language barrier. I took a lot of help from my CA brother and sister who were like good translators - it was rather easy to understand concepts from them. I used to comprehend and read the text repeatedly, so that I could remember it. I never tried to mug up my work in English, because I know it wont help. Now I feel that I managed to get a grasp of the language. Q. Is this your first academic success? A. I excelled in studies throughout my school. I was always listed among toppers. I got 1st rank in CS executive level in the state level and all India 6th rank in CA-PCC level exam. Since I was listed in the merit list of toppers, I was felicitated with Institute of Chartered Accountancy of India (ICAI) scholarship. I get a postal cheque of Rs. 7500 twice a year from the institute. Q. Why CS alongside with CA? Did multiple courses help? A. I wanted a broader knowledge about the finance field. Since both these courses are related to accounting profession, the course contents more or less overlaps. I felt 50% of syllabus is similar. I chose CS because it stresses more on applicable company laws and rules. So with a systematic planning, it was easy to handle both courses. Q. Which are the tough papers? How did you cope? A. Generally, students feel treasury and forex management is bit taxing. Luckily, being a CA aspirant it was not that tough for me. I had a good grasp over these practical subjects.

Q. Books you referred for preparation. A. I solely relied on study materials offered by ICSI and scanner for seeing past year exam questions. I also referred CA course books. Q. What was your concentration strategy? A. I am sharpest in the morning - mentally best from 6 am to 9 am. I scheduled the difficult papers for morning and easier ones for the following day. I effectively studied for 6 to 8 hours. When I would feel sluggish, I used to go out for a walk, chat with friends and family. Relaxation is must for me so that all my energy goes well to my brain. Proper sleep, chatting, walking released a lot of tension. I believe one should study smarter not harder. God has given us beautiful brain. You just have to apply 1-2% of it and you can rock the world! Q. Tell us about your last minute preparation A. Last minute preparation was easy for me. For exam takers, time is a major constraint. The one year consistent daily preparation helped me in the long way. It gave me the strength to revise my books in a jiffy. I kept my cool in the exam hall. I was clear before hand that I should not leave a single question. Q. How significant was coaching for you? A. Yes it does help to an extent. Coaching classes gives you a collective study atmosphere. It builds your confidence, especially while interacting on the same subject with like minded students and teachers. But I strongly believe that 75% depends on your self study and motivation from your family and friends. I did not rely on coaching for long - as for the last level (CS professional) I focused entirely on self study. Q. You never thought of going to Delhi known for best coaching institutes? A. Yes for once it struck me. But I was conscious of other factors I cant burden my father for extra pennies for logistics (stay, coaching fee). Everything depends on the ability of the student. I was confident that no matter where you sit you will be studying the same modules. I made the most from home. Q. What next after this euphoric moment? A. I dont want to get into any corporate profession. I want to advance, create and disseminate knowledge. I am in the final year of CA. I plan to crack it this year at any cost and plan to jump on to the next level. I wish to do IAS and preferably get into Indian Revenue Service (IRS). I want to be socially responsible for the country and make a mark in the commerce and finance fraternity. Q. Your advice to CS aspirants... A. Befriend your course books as you love any other novels. If you get stuck, take guidance and sail on, without sleeping on it. If you fail, dont get bogged down, keep trying for it. Success will come to your door!