A
company secretary executes her/his work with colleagues at all the levels. A CS
is the one who fills the gap between the managers and the employees of the
organization. Keeping the board of directors and stakeholders updated about any
meeting and agenda, making a detailed note of the proceedings of the entire
meeting and handling other documentary work falls into the role of a company
secretary. The course of a CS is a professional course conducted by The
Institute of Company Secretaries of India (ICSI). The course consists of three
stages, Foundation, executive and professional program. A candidate should be
10+2 to start up with a foundation program.
There
are various institutes that provide training and education to cost and
management accountants in India. These institutes are dynamic, premier and
professional institutes that are professionally associated towards the
industrial and economic development of the nation. The accountant in this
profession handles the responsibility as Cost and management Accountants. The
job is basically concerned with the provisions and application of accounting
information to managers within organizations that help them to make informed
business decisions.
The basic tasks these accountants perform includes the process of identification, measurement, collection, analysis, formulation, rendering and communication of information and eventually takes place the preparation of a financial report. The ICMAI course is divided into 3 parts. First is the foundation course, which needs a minimum qualification of 10+2, however candidates already applied for the 12th and are awaiting for the results can also apply for the foundation course. Then comes the intermediate course. Although, students who are graduated directly become eligible for the intermediate course, they can skip foundation program. Then comes the final course.
ICSI or the Institute of company secretaries of India is the leading entity that offers valuable certifications to aspirants in the company secretarial program. The major responsibilities of the institute include registering and keeping track of students, offering opportunities for practical training along with theoretical sessions, conducting examinations in company secretaryship, issuing Government Diploma to successful candidates and so on.
The basic tasks these accountants perform includes the process of identification, measurement, collection, analysis, formulation, rendering and communication of information and eventually takes place the preparation of a financial report. The ICMAI course is divided into 3 parts. First is the foundation course, which needs a minimum qualification of 10+2, however candidates already applied for the 12th and are awaiting for the results can also apply for the foundation course. Then comes the intermediate course. Although, students who are graduated directly become eligible for the intermediate course, they can skip foundation program. Then comes the final course.
ICSI or the Institute of company secretaries of India is the leading entity that offers valuable certifications to aspirants in the company secretarial program. The major responsibilities of the institute include registering and keeping track of students, offering opportunities for practical training along with theoretical sessions, conducting examinations in company secretaryship, issuing Government Diploma to successful candidates and so on.
Whereas,
for Cost and Management Accountant there are various other options, such as
doing a certificate course in financial management or choosing up a financial
planning course for your post graduation. Apart from the Institute of Cost and
Management Accountant of India (ICMAI), many other ICMA institutes promise to
offer an accountant course of this level. Mostly commerce students are eligible
for this program. However, to enable non-commerce students the ICSI has made it
compulsory to take up a course or oral tuition in those subjects of the
foundation examination which he/she had not studied at the graduate or post
graduate level.
So,
basically CS handles the legal matters related to the company and CMA
specializes in handling the accounts, bookkeeping and audit. ICMA includes
collection, assimilation and analysis of financial information from all areas
of the company while the role of a CS is that of an advisor in the legal matters
of the company. They act as an intermediate between the company and its board
of directors, stakeholders and the regulatory authorities.
Students, on completion of
the CS course can find employment in government accounts or departments of law.
Of late, ICMAI course was lagging behind. However, there were important changes
in the regulations which has made this profession lucrative both on the
professional front and practice. It is expected that the ICMAI courses will
also attract more students in the coming years due to the increasing horizon of
the profession.
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