Blog

Is CWA a better course than CA?


Is CWA a better course than CA?

Hey, are you confused between two compelling courses in the corporate world which have their place? Okay, both courses are known to be the toughest courses and require a genius caliber from you. Someone who picks between two of these, i.e. The CA and CMA/ICWA required being involved in playing with the numbers.

Every student has a distinctive skill and interest so we can simply guide you on both the courses, their position, their rewards, their length, the requirements of the industry, and other significant factors after studying which you have to decide the career choice is best from your viewpoint.

Here is a simple guide for you to decide between CA vs. CMA under various categories.

Let’s glance first at the simple introduction of the two courses

CA (Chartered Accountancy)

Accountant Accounting Cartoon PNG, Clipart, Account, Accounts Payable,  Bookkeeping, Business, Chartered Accountant Free PNG Download

You must have known heretofore that Chartered Accountancy is the most reputable course in the field of commerce. ICAI and only ICAI have the authorization to award the CA degree.

CA is also considered to be the strongest course in the world, and the Indian Chartered Accounting body i.e. ICAI is acknowledged as the world’s second-largest accounting agency.

CA is well known in the business world for gaining high bonuses and as well as held responsible for controlling the company’s financial and legal matters. The career is daunting as a CA also requires updating itself with the laws and case studies that have been revised.

Because of CA’s professional proficiency in different fields like accounting, auditing, taxes, finance, corporate law, he is eligible for delegation on diverse job profiles such as internal auditor, fund manager, financial advisor, etc.

In addition to the above, just Chartered Accountants in India are sanctioned to audit an organization’s financial statements.

Course Structure

CA course is proportioned into three levels-CA Basic, CA Intermediate, and CA Final in addition to three years of practical training. This practical training is also an essential part of the CA curriculum, making a CA aspirant a true professional. Studies of CA go far besides book learning experience. Here the students were prepared to deal with real-life challenges.

Duration

In the CA Course, the aggregate length is a minimum of 4.5 years containing 3 years of articleship preparation. Consequent to qualifying for the 12th Standard, one may register for his CA Foundation entrance exam.

Demand

Chartered Accountants are remarkably experienced in various fields and also enjoy an F.S monopoly. Auditing, hence demand in the corporate world is increasingly expanding. Companies are searching for an employee who can perform the various tasks and CA’s are considered perfect for this job profile.

Job Profile

A CA can work on numerous Job Profiles such as –

Statutory Audit

Internal Audit

Advisor in Direct or Indirect Taxation

Handling Transfer Pricing

Financial and Accounting Management

Investment Decisions

System Audit (after clearing DISA/CISA)

Handling the Companies Legal Matters

Average Salary

An average salary of 6-7 lakhs has been provided to a fresher Chartered Accountant this grows with experience and skills. Though 10-12 lakhs are typically given to candidates who fell out at the first attempt and up to 25 lakhs are provided to Rank Holders.

CMA (Cost and Management Accountant)

CMA Final Cost & Management Audit -

CMA is to a great extent Cost Accounting focused. The principal subject of CMA research is financial and funds management. Their work description is to keep and maintain the cost records, goods/services pricing, cost records verification, etc.

However, CMA has begun to develop in India; its reach is still very low. Yet we may believe that this is a path to the future. CMA is the just person allowed to handle the firm’s cost audit.

Course Structure

CMA course, likely to CA, is as well as proportioned into three tiers – CMA Formation, CMA Intermediate, and CMA Final. The students are eligible for entrance in the CMA Foundation course after qualifying for the 10 + 2 test.

Duration

The aggregate length of the course at CMA is a minimum of 3-4 years. CMA training is a compulsory part of this course, too.

Demand

As we have already quoted that each company is not required to get the cost audit done. Companies working on a very large scale are required to designate cost auditors. Thus, the demand for CMA is very limited but it is expected that the demand will accelerate with time.

Job Profile

A CMA can appoint on the below-mentioned job profiles –

Cost Accounting

Cost Auditing

Financial Planning

Determine the Prices of Goods and Services.

Average Salary

A CMA’s average salary is about 3-4 lakhs, which rises with time and relies on one’s skill as well.

Going through the details and information about CA vs. CMA, you must have gotten a whole idea of the courses. As per the experts, in the current industry CA has a lot of scope and demand.

Although, if you are planning for the future ahead after 10-15 years then you can opt for CMA which is expected to emerge with time. Decide the best between CA vs. CMA.

Despite that, we leave it this to decide by yourself in light of the monetary terms, Work Availability, Depth, and Information as well as Opportunities.

We at Wisdom Academy, provide CMA Coaching Classes as well as CA Coaching Classes in Mumbai.

Wisdom Academy provides face-to-face sessions between the teacher and the student that are specifically customized to the student's requirements.

Here are some reasons why you should consider enrolling in Wisdom Academy for your CA/CMA preparation:

  • We have a revolutionary approach towards teaching at our CA, CS, and ICWA classes in Mumbai which is a combination of Inductive Learning, Testing Effect, and Active Learning.
  • We ensure that students thoroughly understand the concepts that are taught and assure that a lot of practice also takes place.
  • Wisdom Academy encourages a sense of achievement and teaches the students to enjoy the work by providing various opportunities for collaboration and self-determination.
  • At our coaching institute, the aspirants can expect a composite of real-life business situations, case studies, as well as the hallmark practice of learning by many hands-on scenarios.

Leave a Reply