Is CMA worth the time, effort and money spent?? What’s the value?

Here are 5 good reasons to go ahead.

1. Gold-Standard in Management Accounting

CMA is a much-respected designation in the corporate accounting world. CMA is an advanced professional certification specifically designed to measure the critical accounting and financial management skills.

2. Globally Accepted Management Accounting Certification

CMA is the most popular management accounting certification worldwide.

3. Better Salary

Let’s face it — we want to learn, but ultimately, we need the certification to get better-paid jobs. According to IMA, CMA holders earn 33% more than their non-certified peers.

4. CMA Skills are More Practical

80% of accountants end up in non-public accounting. The management accounting knowledge and skill is in fact more useful for these professionals. In fact, many dual CPA and CMA holders find the materials covered in CMA more interesting and practical in their daily work.

5. IMA Makes it Easy for Us

Unlike the CPA exam in which getting qualified is sometimes harder than passing the exam itself, IMA (the CMA exam administrator) make things clear, simple and organized for applicants. IMA openly welcomes international candidates with the exam offered in hundreds of locations worldwide. CMA candidates can focus on passing the exam, instead of getting stuck the bureaucracy and conflicting rules from different State Boards.

Sounds Great… But How Does This Benefit Me?

Let’s see if the CMA certification benefits YOUR career.

1. Can the CMA Certification Fetch You a Better Job?

Within the Finance department at J&J, the CMA is a highly regarded certification. The content of the CMA exam mirrors real-world applications used across the corporate finance and accounting functions.” – Ryan Perkins, CMA, senior financial analyst at Johnson & Johnson (Strategic Finance Magazine, April 2015)
The below mentioned fortune 500 companies are known to have CMAs in their key management roles:

  • 3M
  • Alcoa
  • AT&T
  • Bank of America
  • Boeing
  • Cargill
  • Caterpillar
  • ConAgra
  • Hewlett-Packard
  • Johnson & Johnson
  • Microsoft
  • Procter & Gamble
  • KeyCorp
  • Whirlpool
  • Saudi Aramco
  • Verizon
  • Xerox

You will notice that the majority are big, global corporations focused in manufacturing. If you have ever dreamt of working with any of the companies listed above then CMA is best for you

2. Are You Sure You Don’t Want to be an Auditor or Tax Accountant?

If you are rigid in your decision of building up a career in corporate accounting then CMA will enhance your profile and knowledge to a great extent in the field.
If you aspire to work in a public accounting firm, either as an auditor or in tax then CMA may not be good for you.

3. Is CMA Truly Valued in Where I Live?

The demand for CMAs is different in different regions across the US, and around the world.

Hope this has given you a further insight of how to benefit from CMA.

Join us if you want to get tips on how to plan, study and pass your CMA exam… on your first attempt!

6 REASONS AS TO WHY TO BECOME A CPA!!

CPAs = Black Belt Accountants

CPA, or certified accountants, are finance professionals who have achieved expertise beyond a “normal” accountant does. This is done through advanced education, training, experience and hard work.

If you are an accountant who aspire to become partners in the accounting firm or move up the corporate ladder, then CPA is the best way to achieve it.

CPAs Are Needed Everywhere.

Corporations, non-profit organizations and governments in every industry around the world look for CPAs to fill in their senior finance positions.
Additionally, if you are up for a raise against someone with equal background, work ethic, experience, but you have your CPA License, the promotion will most likely go to you. Firms invest thousands of dollars into helping you take and pass the CPA Exam because they highly value this designation.

CPAs Are Indispensable.

After the financial crisis, corporate accountability has become the number one concern for companies and their shareholders. Senior management relies on Certified Public Accountants for financial health and integrity of the corporations.

CPAs Are in Demand.

As a result of the Sarbanes-Oxley Act, workload in the accounting department of every corporation has vastly increased, leading to a shortage of accounting experts in a global scale. At the same time, 75% of current CPAs will retire in 15 years, based on a study by the AICPA. This creates a golden opportunity for you to jump into this important industry.

CPAs Are Paid Better.

A study by global recruiting agency Robert Half points out that CPA on average earns 10% better than non-CPA. Also, CPAs with 5+ years’ experience are paid $80-110K in public accounting firms.

Travel Opportunities

As globalization is on the rise, accountants and auditors who can embrace globalization and understand International Financial Reporting Standards will be needed all over the world. If you enjoy traveling, or would like to even spend your time living in another country for a year or two, becoming a CPA is the way to go. You won’t only get the opportunity to explore the world, but you’ll receive tons of great experience doing it which will only help your career.

We hope you found this hopeful and that we gave you another nudge in the right direction: that of CPA licensure. Not many jobs come with these amazing benefits, so make sure the CPA Exam is on your radar!

Ready to start working towards your CPA credential??

Write back to us or call us to get expert feedback about your queries related to the course

8 differences between CFA and CPA Programs

Define CFA

CFA is known as “Chartered Financial Analyst” Program is a professional certification offered by internationally recognized CFA Institute from USA, formerly known as the Association for Investment Management and Research (AIMR) for the investment and financial professionals.

CFAis a globally respected certification and is widely considered to be the gold standard in the field of investment analysis.It is a graduate level investment credential established in the year 1962 and awarded by CFA Institute, which is the largest global association of investment professionals.Presently there are more than 123,000 CFA charter holders working in 145 nations globally.

In that respect are three stages of exams with areas covering, such every bit-

  • Accounting
  • Economics
  • Ethics
  • Money Management
  • Security Analysis

The CFA level one test is conducted twice per year in the month of June and December.
The main areas such as-

  • Ethical and Professional Standards
  • Quantitative Methods, Economics
  • Financial Reporting &Analysis
  • Corporate Finance
  • Equity Investments
  • Fixed Income
  • Derivatives
  • Alternative Investments
  • Portfolio Management
  • Wealth Planning

The level 2 exam is only conducted once per year in the month of June.

The tier 3 exam is also only conducted one time per year in the month of June. It concentrates on effective wealth planning and portfolio management by involving the candidate to learn and know all the concepts and analytical methods in the entire syllabus.

To become a CFA charter holder, a candidate should ask one of the following educational requirements.He or she should have four years of professional work experience with a bachelor’s degree or should be appearing in the final year of the bachelor’s degree or combining of both professional work experience and education totaling should be about four years. Of the candidates those are undergraduate qualification, the bachelor’s degree shouldget completed before registering for the Level II exam. In addition to this educational requirement, the candidate should have an international passport, with completing the assessment in English, should require the professional conduct admission criteria, and should live in a country from where the candidate is participating.

Define CPA

CPA program is a certification of expertise in the area of accounting.Only those CPA professionals can supply an opinion to the public regarding publicly distributed financial statements.CPA is also known as a Certified Public Accountant is a professional certification offered by the American Institute of Certified Public Accountants in order to maintain industry wide professional standards.

The CPA’s basic function is to help business’s needs.CPA program includes such as-

  • Tax preparation
  • Financial statements
  • Financial planning
  • Forensic accounting
  • Internal auditing
  • Income tax

CPA, is an accounting professional who has passed the Uniform CPA examination and has also gained additional state certification and experience requirements. To become a CPA, the candidate shouldfulfil the following criteria such as-

  • Complete a college degree inaccountingsector
  • Should pass the Uniform CPA Examination
  • Should have a certain amount of professional work experience in accounting at least fortwoyears

The CPA exam is prepared and sorted out by the American Institute of Certified Public Accountants.The CPA examination has four sections such as-

  • Auditing and attestation
  • • Financial accounting and reporting
  • • Regulation
  • • Business environment and concepts

CPA examination also involves sections such as-

  • Writing skills exercise
  • Multiple choice questions
  • Case studies

CPA certified professionals are asked to fill in a minimum number of continuing professional training (CPE) courses in order to keep the CPA designation.CPA program eligibilityrequirementsvary from one to anotherstate,butrequiredsuccessful to complete the four partCPAexamination.

CPA professionals are well respected strategic business advisors and decision makers. They work as consultants on many situations that including taxes and accounting. A CPAprofessional is a trusted financial advisor who helps individuals, businesses, and other entities to plan and reach their financial goals to gain success.

Now 5 differences between CFA and CPA programs

There are certain differences between financial professionals and Accountants with their designations. Accountants and Financial personals are both important members of the financial area, but sometimes the distinctions between the functional area performed by both the professionals are indefinite this makes the difference and distinguishes a CPA from a CFA.

Sl. No CFA CPA
1 Stands for Charted Financial Analyst Stands for Certified Public Accountant
2 Administered by CFA Institute Administered by American Institute of Certified Public Accountants
3 Professionals should maintain strict codes of conduct and high standards of ethics and integrity. Professionals should meet state’s requirements for membership into the institute’s ranks.
4 Professionals are likely to receive and analyze reports produced by a CPA or other accountant. Professionals involved in tax reporting and filing
5 Professionals recommend to their clients on how to invest on securities on the basis of public companies annual report that are prepared by CPA professionals. Professionals helps clients and companies in terms of minimizing taxes and maximizing profitability
6 A professional analyzes the growth and profitability of companies and their creditworthiness and the amount of debt they carry. Professional’s advices on different forms of business companies and the benefits and advantages of each in different situations.
7 Professionals are qualified to perform personal financial planning and wealth management. Professionals are trained to advise clients who have been audited or require audited reports.
8 If a client has a large sum of money and wish to invest, then he should hire a CFA pers If a client needs help preparing their taxes, then he should hire a CPA personal.
Industry recognition is good. Industry recognition is very excellent. Industry recognition is moderate.

Conclusion

As per the above table, both the programs have its own distinct level of functions which is very important to maintain the financial areas of any individual person or a company for their business growth. Hope this article may help and understand to know the various differences between CFA and CPA programs in the area of finance. To know more about CFA and CPA programs and get registered logon to our website URLs.

For CFA Program – URL: http://edudelphi.com/ae/cfa-course-dubai/

For CPA Program – URL: http://edudelphi.com/ae/cpa-course-dubai/

Difference between CMA, CPA and CIA Courses in Accounting and Auditing

What is Course CMA?

CMA is one of the highest levels of certification course in Management Accounting. This certification course is awarded by the Institute of Management Accountants (IMA) USA, which is recognized worldwide. The abbreviation, of course, CMA is Certified Management Accountant.

The CMA USA examination is completely computerized. This certification exam can be taken at hundreds of Prometric centers globally. The CMA program helps applicants to take the examination at their own convenient time.

This CMA certification exam contains 2 parts examination, with this, also need 2 years of full-time experience appropriate to management accounting. This certification exam covers overall of a junior management accountant which normally come across in everyday work environment. This covers topics such as –

  • Understanding of the three Financial Statements of Accounting
  • Budgeting and Planning
  • Performance Analysis and Cost
  • Internal Control.

This course also covers the finance side of managing a company, such as –

  • Multiple choice questions
  • Written communication
  • Task based simulations

A CPA professional is one who has achieved a professional designation through the integration of education, experience and licensing.

What is Course CIA?

CIA is the only professional certification nominated for Internal Auditors is accepted worldwide. This certification course is awarded by the Institute of Internal Auditors – USA. It is one certification, which is recognized worldwide for Internal Auditors. The abbreviation of course

CIA is Certified Internal Auditor.

The CIA USA examination is completely computerized; applicants can appear from any 500 examination centers. Applicants are no need to go USA to attend the examination they can appear for the exam from their home country itself. The CIA certification examination centers are situated almost in every country worldwide. This CIA course is a combination of both theoretical and practical training. The CIA program helps applicants to take an examination at their own convenient time.

To occur for CIA certification Examination, the applicants must have eligibility criteria such as

  • Applicants must have a bachelor’s degree or equivalent education
  • Charted Accountant as International professional designation can be accepted as equivalent qualification
  • Students who are full time in universities and are in their final year can enter to CIA program and can appear for the examination For an applicant to complete the CIA certification examination is 4 years. If the applicant fails to complete all CIA certification examination papers within 4 years, then all his / her examination fees and modules cleared are forfeited

The CIA certification examination is divided into3 parts such as –

  • Internal Audit Basics
  • Duration: 2.5 hours, Total Questions: 125

  • Internal Audit Practice
  • Duration: 2 hours, Total Questions: 100

  • Internal Audit Knowledge Elements
  • Duration: 2 hours, Total Questions: 100

Applicants those are appearing for CIA certification examination should also have a minimum of 24 months (2 years) of Internal Audit experience. The work experience requirement can be met after the appearance of CIA certification examination. Then the CIA certification will be awarded after once all the CIA program requirements are fulfilled.

Difference between CMA, CPA and CIA Courses in Accounting and Auditing

CMA CPA CIA
Stands for Certified Management Accountant. Stands for Certified Public Accountant. Stands for Certified Internal Auditor Accountant.
This certification is awarded by (IMA) USA. This certification is awarded by (AICPA) USA. This certification is awarded by (IIA)USA.
Deals with Financial Analysis and Corporate Finance. Deals with External Audit. Deals with Internal Audit.
This course is meant for Professionals who wants to work for Corporations or in Financial Departments during IRS. This course performs audits and is involved in lots of tax work, especially audits process in the company. This course deals with finding out fraudulent act and internal audit.
Need 2 years of managerial work experience. Need 5 years of work experience in related field. Need 7 years of work experience in auditing field.
This exam consists of 2 parts. hThis exam consists of 4 parts. This exam consists of 3 par
To qualify this exam 3 years is neede To qualify this exam 2 years and 6 months is needed. To qualify this exam 4 years is needed.
Overall recognition is moderate. Overall recognition is very excellent. Overall recognition is moderate.
Industry recognition is good. Industry recognition is very excellent. Industry recognition is moderate.

Conclusion

Today you have lots of globally recognized certification courses in Accounting and Auditing. Now it is up to you to choose the best one which will suite as per your requirement for your career growth. So hope this article will give you the knowledge to understand better and take the right decision for your professional career path to success. To know further you can log on to our website

URL: http://edudelphi.com/ae/accounting-courses-dubai/

5 reasons why Accounting and Auditing is important in today’s business?

Importance of Accounting in today’s business

For recording Financial Transactions in a business, accounting is most important. The financial stability of any business cannot be stated without accounting. Accounting plays a vital and crucial role in preparing accurate financial statements. The basic purpose of accounting is to provide help and assistance to stakeholders and to enable business decisions with the help of financial information.

Accounting is a procedure comprising of the following steps –

  • Recording
  • Summarizing
  • Analyzing
  • Collecting
  • Ensuring Accuracy

Accounting is commonly mentioned as “Language of Business”.Accounting is important, because to grow the business there has to be a process that can be predicted and measured. This involves a methodology of tracking–

  • Business assets
  • Liabilities
  • Income

The main purpose of an accounting information system (AIS) is –

  • Collection
  • Storing
  • Collating financial and accounting data
  • Creating informational reports

The above details help managers and other accounting professionals to make proper business decisions. Each procedure in the accounting sequence plays an important role in making valid entries and managing the company’s financial assets each time a buying or procurement is made or an income is earned. If a company decides to implement an accounting sequence, it is important that each step is followed in the right order.

An Accountant is a professional who takes care about accounting transactions and performs financial functions. Normally, the accountant deals with third parties, such as –

  • Vendors
  • Customers
  • Financial Institutions

Accountants can help in determining areas for growth by providing informaion on things such as –

  • Cash flow plans
  • Inventory Management
  • Pricing
  • Business Financing

Also provides advice on property and equipment leasing and purchase, which helps in case, is audited by the Internal Revenue Service.

Importance of Auditing in today’s business

Auditing is a major business requirement that includes the assessment of evidence and documentation about the economic and transaction activities of a company.The purpose of auditing is to provide an open minded independent examination of the financial statements, which increases the profit and reliability of the financial statements created by management, thus increasing user confidence in the financial statement, reduce investor risk and accordingly reduce the costs. Purpose of auditing is to follow and ensure compliance of itsseveralcorporate objectives.

The purpose of auditing is to provide an independent opinion to the shareholders on the genuineness and state of affairs of the business in the form of financial statements, whether they have been prepared in compliance with the Companies and other relevant Acts and to report by exception to the shareholders. TheInternal Revenue Service can audit to verify the accuracy of a taxpayer’s returns and other financial transactions.There are several types of audits that can be performed, such as –

  • Compliance Audit
  • Construction Audit
  • Financial Audit
  • Information Systems Audit
  • Investigative & Forensic Audit
  • Operational Audit
  • Tax Audit
  • Cost Audit

Some of the advantages of having a good approach of auditing are –

  • Measures to protect assets and minimize the possibility of fraud.
  • Productivity improvement in operations.
  • Ensuring integrity and financial reliability.
  • Establishing compliance with statutory regulations and laws.
  • Put in place procedures for monitoring.

Auditing can be defined as the examination of documents and collating evidence, which are involved in accounting and other transactions. Mainly it helps to establish the intensity with which an audit is accomplished. It can range from simple to complex process, to examine the company documentations.

An Auditor is a professional who examines financial records to evaluate the evidences obtained. They make sure that financial records are in order and that tax laws are complied with regularly.

The auditor’s responsibility is to plan and perform the audit to obtain assurance about whether the financial statements are free of information misstatement, which mighty be caused by an error of judgment or fraud. They can also give advice and recommend for possible risk avoidance measures and of savings cost through –

  • Preparing Reports
  • Analysis Reports
  • Financial Statements

The five characteristics of an auditor which are important in this profession are –

  • Should have a required experience. Professional certifications apart from main academic qualifications are a must for an auditor
  • Should have good ability to make and apply independent decisions
  • Should have the ability to understand different business needs of requirement
  • Should be independent and confidential.
  • Should have good effective Communication Skills

Auditors evaluate financial transactions, help and work to ensure that companies move forward successfully to achieve huge growth in their respective business in the long run.

Importance of Accounting and Auditing with 5 reasons in today’s business

5 reasons of Accounting

Accounting helps to have better communication of the financial information for Managers, Investors and Owners those who need to assess the financial performance of a company.

  • Accounting help in proper planning for Financial Stability

In order to aid financial decisions, proper planning is a requirement for an entity. This actual planning helps us to understand the inter connected aspects of financialinformation  such as –

  • Cash Flow Planning
  • Sales Planning
  • Procurement Planning
  • Inventory management
  • Development Planning
  • Establishing various targets including Profit goals etc.

All these are dependent on the quality of financial information and accounting data.

  • Accounting assists in evaluation of Business Performance

The records of accounting consists of financial Balance Sheet, Profit and Loss accounts, Cash flow statements, which help to understand the  financial performance and financial state of affairs as well as cash flows for further analysis of the  performance of the company’s  business. It is also very useful to compare with historical accounting data with the current data.

  • Accounting aids helps future Financial Estimates and Budgets

The accounting details aid a company to prepare budgets and also forecast for future periods. Business models are constructed based on various data processed by accounting information.

  • Accounting helps in keeping records in order

Accounting is one of the basic solutions for keeping records in a systematic way. Financial information is collected from different sources and then organized, analyzed, validated and Communicated to enable informed economic decision making which will help in obtaining long term results. The making use of statistical tools, companies around the globe can able to plan their economic pursuits to grow their business. Government makes fiscal and monetary policies by using these companies’ financial information.

  • Accounting helps in discovery and prevention of Fraud

Frauds can only be discovered and prevented through proper accounting records. This accounting information system is the only way out to keep track of all fraudulent occurrences ina very appropriate, effective and efficient way.

5 reasons of Auditing

  • Auditing helps in establishing accountability

As the business grows, there arises the importance of establishing accountability and the manner. These can be structured by the shareholders as well as top management. Company financial managers need to assure compliance of such policies with the help of accurate financial reports as and when required to verify.

  • Auditing helps in assigning complete report

Audit reports provide a complete and details of its findings to small as well as large business. In the future if there are any changes happen to the business, the same will have to be updates for a complete understanding of the financial information whenever it is required to be inspected.

  • Auditing helps to encourage Value and Credit Rating

Auditing regularly and consistently of financial statements is a rewarding part of any business for Investors, Creditors and Lenders. It helps in stabilizing and improving the credit rating of a business.

  • Auditing helps to provide a very efficient Reliability

Auditing can benefit from pursuing audited financial statements for the tax authorities, financial institutions, and company management with an independent financial auditing, tax officials can depend on the accuracy of the financial information provided for thetax computation.

  • Auditing provides a genuine Accuracy and Assurance to business

Auditing can offer 100% genuine and accuracy so that an assurance of the financial stability for any business is obtained.Through auditing, assurance can certainly obtained from a well carried out auditing process and avoid any miscalculation/ misstatement of financial statements.

Conclusion

So in todays any business accounting and auditing play a very vital role to keep the financial aspects of business in an orderly way.

Hope this article will help you to know more and understand the reasons why accounting and auditing is so important to run a good business. To know further you can log on to our website

URL: http://edudelphi.com/ae/accounting-courses-dubai/

CMAs role in an Organization as a CFO

The CMAs (Cost Accountants/Certified Management Accountants) play a major role in any organization. The course content for CMA qualification along with practical experience ideally equips a CMA to successfully play the role of a Chief Financial Officer (CFO) in an Organization.

Fact is that the CFO’s are responsible for too many things in an organization. They must predict the future. They must report on the past. They must analyze the reasons why the actual performance did not meet the expectations. They must deal with bankers, auditors, tax authorities. They must ensure compliance with an ever increasing accounting (and other) regulations. They must seek and manage business process improvements, implement new systems, be the point person on anything remotely finance related. A CFO is responsible for all financial aspect of the organization he is working for. He is responsible for the accuracy and timeliness of his report to his Chief executive Officer (CEO) directly and the Board in general or Executive Committee in particular. Therefore, the CFO needs to look at the big picture when he works for the CEO and reports indirectly to the Board as well as working with officers who report directly to the CEO. such as, Chief Operating Officer (COO).

A CFO sees more of the business than anyone else and understands all of the things that have to be done for the business to succeed.
As the ‘Responsible Officer‘ for a great many factor obligations within the organization, the CFO needs to have compound eyes to see all the aspects of the entity’s operations.

Being on top of all these requires a lot of experience, and a lot of reliance on subordinates to feed a CFO the right information in enabling appropriate decision-making, in addition to a lot of planning, implementing, monitoring, control, review and reporting.
Keeping in view the above mentioned multiple role played by the CFOs, the Cost and management Accountant professionals are perfectly suited for the position of a CFO. It is also pertinent to mention here the phrase used by the Institute of Cost Accountants of India that

“Behind Every Successful Business Decision, There is always a CMA”,

which proves that the CMAs are focused to become a major business decision make as a CFO.

CMA Course in Dubai

The functions of Certified Internal Auditor

About Certified Internal Auditor

Smiley face

The short form of Certified Internal Auditor is “CIA.” Internal Auditors those who are Financial Professionals conduct Internal Audits, Test Internal Financial Control and develop Financial Procedures for Business. The Certified Internal Auditor title is awarded by the (IIA) and is the only such achievement that is accepted globally. CIA credential is recognized globally. CIA designation will have a more highly focused skill sets comparing to CPA. Internal auditors with the CIA designation are knowledgeable, Competent, Highly Ethical and Communicating Skills are good with their clients. Those who have earned CIA title, review financial records to look for faults in Internal Controls. CIAs normally work in the financial institutes or corporations and also in audit department of government agencies. Fraud Detection and Control Assessment are the basic components of Internal Auditing.

There are 6 steps to review when making decision to become certified in CIA profession like –

Taking decision about you for the right Certification.

Establish your Eligibility and Skill Level.

Exam Registration.

Exam Preparation.

Taking Exam.

Receiving Certificate.

Including CIA title to your Resume, Business Card and to LinkedIn profile will definitely boost your professional growth in the industry. And know to be like –

As well organized credible and trusted internal auditor.

As who understands and apply international standards for professional practice of internal auditing as an expert in this field.

As a more competent, stronger skilled professional who is knowledgeable in organizational governance.

As well committed to profession of internal auditing and well equipped for higher growth in career advancement opportunities.

Standing out with different perception from your peers.

Difference between Internal and External Auditor

Internal and External both are Auditors, but there are differences between them like –

Internal Audits are conducted throughout the year; it is not a single annual audit.

Internal Auditors are usually internal company employees while External Auditors are not from internal company employees. They are always a third party to any company or to their clients.

Internal Auditor’s audit report are used by the same Company Management, while External Auditor’s audit report are used by Investors, Clients, Lenders and other Stakeholders.

Internal Auditors can provide consulting services for their clients, but External Auditors cannot provide consulting services to anyone.

Duties, Responsibilities, Roles and Functions of Certified Internal Auditor

The Certified Internal Audit is one of the parts under the office of the Chief Executive Officer and has an administrative reporting line directly to him.The Certified Internal Audit functions as a managerial control by measuring the effectiveness of Internal Control system in an organization. This is expected to provide a complete and continuous audit of the accounts and records of revenue and expenditure, assets, allocated and unallocated stores.This helps to provide managerial control and is designed to add value to and improve the quality of the organization’s entire operations. The Certified Internal Auditor job duties, responsibilities, roles and functions follows like –

Duties
Smiley face

Inspecting compliance with Laws, Instructions and Directives.

Inspecting economy, efficiency and effective utilization of resources.

Inspecting the acceptability of financial and accounting systems.

Inspecting the level of achievement of set objectives.

Inspecting the total operations of government for economic growth, efficiency and effectiveness.

Responsibilities
Smiley face

Having keen observation on industry trends.

To track revenues and expenditures.

To make efficiency recommendations.

To offer financial planning recommendations to top level management.

Roles
Smiley face

Get verify the existence of assets and suggestexactsafeguards for their protection.

Get evaluation of the acceptability of the system of internal controls.

Get recommend improvements in controls.

Get assess compliance with policies and procedures and healthy business practices

Get assess compliance with state and federal laws and contractual obligations.

Get review operations/programs to verify whether results are consistent with established objectives and whether the operations/programs are being carried out as per planned.

Investigate reported occurrences of fraud, misappropriation, theft, waste, etc.

Functions
Smiley face

Pre-payment audit of all payment vouchers to ensure that the payments are authorized and approved, the recording is accurate and is properly supported by third party documentation.

Preparation of quarterly and annual Audit Reports on financial activities of the Fund.

Advising management on control factors relating to all administrative and accounting procedures.

Planning and organizing Audit Verification of beneficiary dedicated TET Fund accounts nationwide.

Planning and organizing special verification of sundry intervention projects by the Fund.

Carrying out audit verification of all procurements and items received into store and taking part in physical stock taking activities.

Reviewing the economy, efficiency and effectiveness of operations.

Applying civil service rules, financial regulations, circulars and generally accepted auditing standards in treating specific financial/auditable subjects proper assigned.

Participating in any other duties assigned by the Management of the Fund.

Conclusion

Hope this article will help you to gain basic knowledge about Certified Internal Auditor actual duties, responsibilities, roles and functions to choose as a career path in accounting industry.To know more about Certified Internal Auditor program and get registered you can visit the given URL: http://edudelphi.com/ae/cia-certification-dubai/

The Advantages of a Career in Accounting

What is Accounting?

Accounting is a systematic way of recording Financial Transactions pertaining to a Business, prepares and checks Financial Statements with taxes and other budgetary records. This is also a process of

    Identifying

    Verifying

    Storing

    Measuring

    Retrieving

    Classifying

    Summarizing

    Communicating Financial Information

It actually shows Profit, Loss, Value and Nature of the business for a period of time. To do Accounting, professionals those are the individuals having the formal education to carry out these Accounting tasks. These professionals should have a bachelor’s or master’s degree on accountancy a must to do this job or with having professional certifications.

Why Accounting?

Accounting is the main and crucial part of any business, without this any business will not be successful. As this lets you know profit and loss of your business by maintaining day today financial information like whether your business is towards gain or getting loss. This keeps the actual balance of your business financial status to show you a path or ideas exactly where to invest money and not to invest. So it is very important part which is actually the backbone of any type of business you do or will going to do, which keeps your business always healthier.

Career Advantages in Accounting

This has a wide scope of career enhancements and choices with good different opportunities, recognition, and advancement towards becoming successful. Given below are among the 5 different career advantages like –

  • Financial and Job Security
  • Accounting is actually very much connected with the business; As long as business exists there will be a need for accountant. As per the U.S. Bureau of Labor Statistics, the average income in this job is of $70,120 in the year 2011 compared to year2010 which was up from an average of $61,690. The average annual income in the year 2016 was $68,150 according to the BLS. The BLS reports that the top 10 percent of earners made upwards of $120,000. In addition, many full time working accountants get more benefits such as healthcare, vacation time, retirement plans and more.

  • Potential for having Professional Growth
  • Accountants usually get promotion after one to two years’ time. At initial stage, after completing graduation. You can begin your career as an entry level associate. Most of accounting graduates will start their career as staff accountants, junior auditors in public accounting. And in private accounting they start their career as assistants in the controller’s office. After gaining experience and established them, their career growth can be achieved through job performance and additional educationslike earning apost-graduation degree MBA or certifications of these any CMA, CPA, CFA and CIA which are globally renowned. Some of the accountants get promoted as company executive, budget director, controller, chief financial officer or president of a corporation.

  • Clarity towards Career Path
  • If you have practical skills about accounting and costs analyzing which all employers need and look for, then this will surely give you a much bigger and clearer career path to grow in this line in a speedy way. Your career will have stability for a long run with having a very wide knowledge and skills to sustain in this industry.

  • Can have option from where you want to work
  • You can definitely start your work from any corner of the globe. As accounting moreover to be an important and must need for any business universally. Like even farmers, individual proprietary business to very huge high end IT companies needs the service of an accountant. So this gives accountants a good opportunity with flexibility when it comes for choosing where they want to settle down.

  • Various types of Career and Work Environments
  • Accountants always have a choice in their careers in different fields whether it is public or private sectors. Also they have option to become self-employed. Accountants may have many choices to do like tax, bookkeeping, payroll or accounting services, while some of them work in government, finance, insurance, manufacturing or company management. Accountants who earn the Certified Public Accountant (CPA) designation usually open their own business. In addition to this accountants who work in an office, have opportunity of travel to audit clients, or they also work from home.

Conclusion

So these are the few advantages in accounting to make your career growth success. As a good accountant you can boost your career to fulfil all your dreams. Hope this article will help you to know about brighter side of accounting career path to choose and go ahead. To know more about accounting program and register visit
URL: http://edudelphi.com/ae/accounting-courses-dubai/

Career opportunities after CPA

About CPA

Employers often search for accountants with specific certifications and pay more to accountants who hold them.CPA is a high end accounting professional course. The full abbreviation is Certified Public Accountant. The CPA designation is granted by the American Institute of Certified Public Accountants.
CPA designation is a certification of expertise in the field of Accounting.
The exam has four sections like –

  • Auditing and Attestation (AUD)
  • Financial Accounting (FAR)
  • Reporting and Regulation (REG)
  • Business Environment and Concepts (BEC)

A wide range of career options in public accounting or corporate accounting are available for CPAs. They can move into executive positions such as controllers or Chief Financial Officers (CFOs).Once a candidate becomes a CPA certified, he or she can specialize in one specific area of finance or a wide range of servicessuch as –

  • Academics and Research
  • Business Valuation
  • Income Tax
  • Information Technology
  • Management Consulting
  • Performance Management
  • Tax Preparation and Planning
  • Venture Capital
  • Corporate Finance
  • Corporate Business
  • General Accounting
  • Environmental Accounting
  • Estate Planning
  • Financial Accounting
  • Financial Analysis
  • Financial Planning
  • Forensic Accounting
  • International Accounting
  • Treasury or Cash Management

For the most part, the accounting industry is a self-regulated. The CPA designation helps prosecute professional standards in the industry. CPAs are subject to a code of ethics.
Knowing aboutCareer opportunitiesafter CPA
A CPAprofessional is a trusted financial advisor who helps and suggests advice to individuals, businesses, and other organizations plan and reach their financial goals to achieve success.After becoming a Certified Public Accountant, it opens a wide range of career opportunities in the field of Finance and Accounts. Taking up a career in accounting and clearing the CPA exam will boost your career but also you will be open to theother opportunities available worldwide.
A CPA professional will have knowledge about the subjects like –

  • US Generally Accepted Accounting Principles (GAAP)
  • International Financial Reporting Standards (IFRS)
  • Generally Accepted Accounting Standards (GAAS)
  • US federal taxation and business laws

This will give CPA professionals an edge and commanding capability over the financial experts in their respective skills which will help to gain confidence in them and also a strong boost in their career growth.
The areas in which CPA professionals can take their careers ahead apart from financial planning and auditing which are mentioned above, in this six career paths have been discussed as below such as

  • Forensic Accounting

Here to Investigate the white collar crimes like bribery, fraud and money laundering…. Etc., which needs and desires the expert knowledge of CPA. In present situations, the criminal cases of corporate crimes and scandals have increased so much which created the demand in this emerging field.
A forensic accountant job is to work on detecting, preventing and investigating financial frauds such as tax evasion, embezzlement to securities fraud, and money laundering schemes.

  • Information Technology

Information Technology is one of the best fields where CPA professionals have huge career growth. They can work as a Certified Information System Auditor (CISA) and lead the department of IT governance or can also work as a Software Revenue Manager (SRM) who will be working as a bond between the Finance team and the IT Team.

  • General Accounting

One of the most vital andstill common career paths is the field of General Accounting. Here the CPA professional will be responsible for accounting activities of the organization from making of financial statements to valuing stocks and also making critical decisions.

  • Environmental Accounting

A CPA professional who lovessurrounding environment, can be an environment auditor and can play asan important key role in the environment protection cause by ensuring compliance with environmental laws through audits which are aimed for minimizing liability and identifying opportunities for more sustainable operational practices.

  • Academic and Research

After successful completion of CPA certification, if interested in sharing knowledge and experience than being a teacher is the best way of fulfilling it. You can easily get into a teaching profession and can teach courses on Audit, Taxation, Accounting, Ethics, Business Applicationetc. You can become a part of any educational institutions and work as a full-time or even a part-time teacher in any good accounting educational institutions.

  • Business Valuation

The successor company needs to value the business before investing in any other company. The company needs to analyze the revenues and future earning prospective, plus the financial stability of the acquiring business, so as to ensure a fair value for buying the shares of the other entity. CPA professionals can also venture in this specific field. Here their duties are to analyze revenue and future earning potential of the company which is overtaken and also the financial viability of the acquiring business.
Conclusion
CPA professionals have many industries, organizations and avenues open to explore, and the need in accounting industry for CPA professionals will never die. This makes it a highly popular course globally. CPA professionals have a lucrative career path with a very high salary and career growth opportunities.  So hope this article may help you to have an idea of what all fields and career path you can explore. Which all field you need to specialize in, and become an expert CPA professionalin that particular field. To know more about CPA Course program and get register visit
URL: http://edudelphi.com/ae/cpa-course-dubai/

Top 6 reasons why become a ACCA

Worldwide Recognition

ACCA has reached around 208K members all over the world, with around 503K students in 179 countries, and when somebody joins to study then he or she also become the part of this ever-growing network. ACCA is internationally recognised the manager of Morgan McKinley, Josh Rufus said this. So if an individual wills to travel he can work with ease. Accounting is one of those professions where positions are freely available all around the world so many people take the opportunity to visit and work in different countries.

Cost Effectiveness

The  ACCA Qualification is a very cost effective way to gain knowledge and professionalism. The members not only gain technical knowledge in accounting and finance, but also gain valuable skills in organizational and strategic management. This combination of technical and management skills increases the career prospects of the members.

Continued Professional Development

Smiley faceThe ACCA members are required to continue their professional development throughout their life. This ensures that the knowledge and skills of the ACCA member do not become outdated. They are required to keep learning to keep their knowledge and skills up to date. This ensures that the ACCA members can work in highly volatile and rapidly changing environments.

Comprehensiveness

Smiley face The ACCA Qualification is a very comprehensive qualification. It helps you to master technical and management skills that are required to a chartered accountant. Its syllabus covers fields such as taxation, auditing, law, business studies, professional and ethical issues, financial management, financial reporting, and management accounting. The qualification is designed to provide a wide range of competences and skills to the students.The ACCA Qualification is designed to ensure that the members get all the competences and skills needed to work in a wide variety of organizations and in wide variety of work roles.

Employers trust ACCA

ACCA’s qualifications are developed with employers that teach international accounting standards. This means that employers all over the world have confidence that ACCA members and students understand the rules and laws of corporate finance in their country. ‘It’s a seal of approval and it’s essential to have a qualification as an accountant to sign off on reports,’ says Simon Smith, director, Marks Sattin. Furthermore, having a professional qualification is essential for employers to benchmark each candidate: ‘It shows passion and drive but also gives a good account of technical ability and experience,’ says Andrew Setchell, director, Robert Walters.

Higher Demand for Skills and Knowledge of ACCA Members

Organizations look for accountancy professionals who can understand the financial needs of the organization and who can evaluate and propose business solutions. The ACCA Qualification is designed to equip its members with the necessary knowledge and skills needed for finding and evaluating business solutions. This increases the demand of ACCA members and improves their career prospects.