Bickering Bollywood….

So we all know that Indian film industry aka Bollywood is the second highest movie producing industry in the whole world after Hollywood per annum. Well to be honest yeah i agree that Bollywood is a gold mine of vibrant,diverse and really amazing movies. But the question remains at the point as why such an old,powerful movie industry with actors like Shahrukh Khan and Amitabh Bachchan who come in the list of top ten richest actors in the world, and with directors like Satyajit Ray are never producing movies which at least can be the bread and butter of the whole world. French and the German movie industry even the movie industry of Chile and the Korea is producing movies which garners massive popularity worldwide. In french we have ‘Belle de Jour(1967)’ and ‘blue is the warmest color (2013)’, German’s having ‘The Marriage of Maria Braun(1978)’ and ‘Freier fall (2013)’, chile’s ‘A fantstic woman (2017), the ripple maker Parasite(2019) and many more from many other countries as well. And then the question prevails why not Bollywood?

Movies like Satyajit Ray’s Pather Panchali (1955) and Mira Nair’s Salam Bombay (1988) in a manner defined Indian movie industry’s potential. But current scenario Bollywood is all about nepotism and love stories nowadays. As if we see that famous movie Slumdog Millionaire(2008) which bagged eight Oscars is not what india is?But the entire movie industry of the world is running after one thing that if India is represented it either poverty or god forbid it’s about curry, thanks to everywhere you see starting from movies like critically acclaimed Lion(2016) or Love Sonoa(2018) everything is about how indians are suffering,human trafficking, lack of sanitation and blah blah blah!!! If we talk about that’s what we see i the world. But people need to realize something that India the world’s second most populous country,sixth largest economy and seventh largest country is not all about trash and poverty. This scenario as explained above is what shows the failure of bollywood. but not everythings bad as we can’t say that Bollywood has gone down totally in these recent years as we made so many good movies too like Raazi(2018), Neerja(2016), Uri(2019), Barfi(2012) , Lust stories(2018) , Mary Kom(2014), three idiots(2009), Bajirao Mastani (2015), Jodha Akbar(2008), Dangal(2016), Devdas(2002), My name is Khan(2010), Swades(2004), English Vinglish(2012), Tumbaad(2018), lagaan(2001), Tare zameen par(2007), PK(2014) and many more which show case the value of the Indian movie industry and it’s potentials.

Now if we talk about problem which is wrecking us all starts with the lack of originality and the rejection of new talent in Indian film industry and how can we forget the grandad of all fiasco the one and only Nepotism. Nepotism is whats actually responsible for killing the Indian film industry in a really gruesome manner as due to this the new talents in indian film industry is getting choked as we speak. Another big problem is the lack of experimentation and really comical and absurd action movies as I’m literally starving for a good science fiction movie or a bone chilling horror fiction at least. But all we get is boring love stories with a lot of songs which are not even sung by the actors but they are just LIP SYNCING to it. No diversity at all as white washing of the whole cast is the forte of bollywood. Not even a single dusky or black actor or actress in a lead role you will find here(leaving the very few exceptions). That’s what i meant when i wrote bickering bollywood as if bollywood won’t up it’s ante there will soon be what we call a hot white mess left in the indian subcontinent for people to watch. Toodles!

CPA( A COMPLETE ACCOUNTING BODY)

Brief History of CPA

To define the standards of the accounting industry, 31 accountants formed an association called the ‘American Association of Public Accountants (AAPA) in 1887. This association was renamed as AICPA in 1957, and it also conducts the CPA exam. In 2001 industry witnessed a major scandal called the ‘Enron Corporation scandal.’ In this, the company’s leaders duped regulations by showcasing fake holdings and poor accounting practices. Thus, in 2002, the Sarbanes-Oxley Act was passed, and through this act, accountants are now liable to follow stringent restrictions for their consulting assignments. After this, the accounting industry saw a major shift in its overall practices, and hence the demand for certified accounting professionals rose.

What is CPA (Certified Public Accountant)?

Certified Public Accountant or CPA is a certification offered by the American Institute of Certified Public Accountants (AICPA), for competency in the field of Accountancy. One may a CPA is an accountant with higher level of education and experience in the field. The AICPA defines a CPA as “a trusted financial advisor who helps individuals, businesses, and other organizations plan and reach their financial goals. Whatever those goals-saving for a new home, opening a new office, or planning a multi-billion dollar merger-CPAs can help.”

CPA certification is a professional recognition most beneficial for CACSMBA, Financial Advisors, Cost Accounting professionals, etc. Finance and accounting professionals can pursue CPA course to earn certification for career ascent, from the AICPA by fulfilling three criteria – Education, CPA Exam and Experience.

The requirement of CPAs is very high in various fields like public accounting, business and industry, government, not-for-profit, and education. The profiles include financial analysis, financial accounting and reporting, management accounting and treasury/cash management. To learn more about the opportunities available in each of these areas.

CPA Eligibility

  • To pursue CPA certification programme, the candidate must have a Graduation degree or equivalent.
  • To earn the CPA license, the candidate must complete 150 hours of the CPA course semester.
  • Many states require candidates to have 1-2 years of experience under a CPA.

It must be noted that CPA eligibility criteria is different for the US citizens and candidates from rest of the world.The consent agreement, international testing fees, and additional identification requirements of international candidates is different from that of the US candidates.

CPA Exam

The exam is a 16-hour, four-part assessment designed to test skills and knowledge required of a CPA. The computer based test is conducted at designated test centers in various countries and is same for candidates from all the countries. Medium of the test is English. The questions paper consists of MCQs, simulation and written ability. Passing marks in 75 on 0-99 scale.

The candidate has to complete the four-part assessment in 18 months to be eligible for CPA license.

CPA Jobs and Recruiters

The job role of a CPA is financial management which includes assessing and analyzing financial status of the client, reviewing financial documents, preparing reports related to capital, tax and audits, offer advice on book keeping and inform the client about changes in government regulation. The main tasks one performs as a CPA are listed below:

  • Prepare and assess financial records and statements.
  • Maintain records of all financial activities along with the records of assets, liabilities and tax.
  • Prepare financial reports for clients.
  • Ensure compliance with government regulations.

CPA career options:

CPA course is an ultimate qualification that gives you an unlimited possibilities to show case your skills in the field of accounting. After completing your CPA course you can begin our career in the following fields like accounting & auditing firms, investment banks, research firms, hedge funds, commercial banks, mutual funds, merger and acquisitions etc.

  • Insurance firms
  • Credit agencies
  • Central banks
  • Assets management firms etc.

CPA licensed professionals are hired by individuals, corporate houses, industry, government, private and non-profit organizations.

CPA Salary

The average salary for a CPA in India according to payscale.com is Rs 7.6 lakh per annum. Salary will not be constraint if you have sufficient skills and talent. The salary varies based on the skillest and diligence, experience gained by the individual in the work force.

 Are CPA professionals demanded in India?

Yes, since MNCs and Big4s are rising in India, the demand for CPA certified professionals is progressing.  CPA certification holders are giving preference over CAs because they have in-depth knowledge of subjects like US GAAP, IFRS & US Compliance & Taxation. In contrast, CA only has proficiency in Indian GAAP.

The top recruiters hiring CPA professionals are:

Below is a list of recruiters hiring CPA professionals:

Top Recruiters Hiring CPA Professionals
DeloitteAccentureAmerican ExpressPhilips
PWCCap GeminiBarclaysTata Power
KPMGGenpactJP MorganSintex
EYWNSMetLifeCaterpillar

  The eligibility criteria for attending the CPA exam?

To become eligible for the CPA exam, an Indian student should have any of the below qualifications ­

  • Member of the Institute of Chartered Accountants of India
  • Member of the Institute of Cost and Works Accountants in India
  • Member of the Company Secretaries in India
  • Master of Commerce or MBAs

The minimum education qualification for taking the US CPA exam is –

  • CPA exam – 120 credits
  • CPA license – 120 credits

In India, 1 graduation year is equal to 20 credits; hence, 3 years B.Com and 2 years of MBA course equal 90 + 60 credits.

Conclusion: hope this information shed as a part of the CPA course details has enlightened you a bit.

ACCA DREAM TO JOB IN MNC’S

What is ACCA?

ACCA stands for Association of Chartered Certified Accountants, which was originated from London and mainly focuses on Accounting and Finance. This course has been recognized in 180 countries throughout the world but mainly in the UK and European countries which means that you can join a Chartered Firm or successfully built your career as a finance professional after completing ACCA in such 180 countries. Although, if you are dreaming to do the audit and attestation work in India, CA is the only option.

ACCA is set to promote the excellence in Accounting and Finance globally and hence covers knowledge of UK GAAP, Laws and IFRS which opens the doors of many International and National companies handling the overseas clients.

ACCA course has been organized by ACCA (Association of Chartered Certified Accountants) UK professional body and it is also considered easier than Chartered Accountancy.

One of the most impressive things of ACCA course is that it recognizes the other qualifications you attained. It recognizes your graduation, post-graduation CA Inter and CA Final Qualification also. Out of the total of 14 papers in the ACCA course, a graduate or a CA Inter pass out has to appear in only 9 papers while after becoming CA  you have to attempt just 5 papers.

ACCA: association of chartered certified accountant is a professional degree course.

This exam is one of the most highly reputed exams in India. Over the past few years, ACCA India has managed to garner much recognition across the country. As the ACCA certification is new here in India, students are finding it difficult to decide whether it is a good career option or not.

ACCA certification in India:

 The ACCA qualification is equivalent to CA (ICAI) certification in India. However, the CA qualification is a bit too difficult to get through. However, the CA qualification is a must if you wish to work in one of the Indian firms, start your own business, or become a partner in a CA firm. That’s so because an Indian CA would have thorough knowledge about the taxes, laws, Indian economy, policies, etc.

Similarly, if you aspire to work abroad, then ACCA becomes a compulsory qualification. ACCA job opportunities are available across Australia, UK, Singapore, Dubai, etc. Besides, students who would like to have experience and comprehensive knowledge within the finance domain, ACCA works big time.

 The ACCA career opportunities:

There are multiple ACCA career opportunities available worldwide. Apart from an accountant, an ACCA professional can work as a management consultant, financial planner, and so on.

It is not possible for an ACCA to pursue auditing in India. That’s because an ACCA India has no authority for signing and hence he cannot mark his signature on audit reports. Similarly, he cannot set up his own auditing firm as well. However, ACCA India professional can carry out auditing job in the UK.

Acca India job opportunities:

It is predicted that in India could easily become one of the biggest global markets for ACCA. As such, the Indian economy is on the path of growth and globalization. Due to which, even MNCs and larger international companies are turning towards India to seek professional accountants and ace finance experts.

ACCA salary in India is considerably equivalent to that of a CA professional. An individual with ACCA qualification can earn an average salary of up to INR 8 lac p.a. The pay scale generally ranges between INR 4 lac p.a. To INR 15 lac p.a. It could go higher too, depending upon candidate’s skills, company’s demands, competition, etc.

Which companies are hiring ACCA in India?

ACCA qualified individuals get easily placed at Big 4 companies like EY, PwC, Deloitte, and KPMG. MNCs including Tata Grant Thornton, Embassy Group, and PepsiCo as well recruit ACCA India professionals. Apart from that, Accenture, HSBC, and Shalimar Paints also do look for accountants having ACCA certification.

ACCA India – Scope and opportunities

ACCA exam is a globally recognized exam. In recent years its recognition has increased exponentially among Indian students. Since the certification of ACCA in India is new, students have a dilemma whether to opt for it or not.

However, if one has an aspiration to work in other countries also, apart from India, where ACCA is coveted then he must opt for ACCA. These countries include UK, Dubai, Singapore, etc. If the student is looking to gain experience and knowledge in the finance field, this qualification shall help.

ACCA can work as an accountant, financial consultant, management consultant, financial planner, etc. However, an ACCA cannot practice auditing in India. The ACCAs working in audit firms in India (including the Big 4) can work as part of the audit team. However, the partner signing the audit report must be a member of the ICAI.

Some basics things about acca :acca courses mainly focuses on accounting and finance ,acca not easy but not hard as ca ,acca has a  global coverage therefore it is based on uk tax laws,

Multinational companies who are handling the work of overseas clients or companies outside India prefer ACCA.

After reading this above article, you must be sure about how to start your career in association of chartered certified accountants (acca).