International Financial Reporting Standards (IFRS) is a single set of accounting standards, developed and maintained by the IASB (International Accounting Standards Board) 

Do you NEED an MBA?

“The [quantitative] skills of finance and supply chain management and accounting and so on, I think those have become more standardized in management education, have become kind of what you think of as a hygiene factor: Everyone ought to know this.”

The Employability Factor of MBA

A lot of students asks me the options available to them while they are doing CA or after completing CA. And one of the most asked question is ‘should they go for a CFA degree’. The reason of writing this article is not to tell you how to do CFA and what’s involved in it, but more about ‘Why CFA’.
Before I discuss a little more on the finer aspects of CFA, it would be worthwhile to see what are the jobs typically done by CFA’s. A research by eFinancialCareers found more than 25% of CFAs work in Asset Management industry followed by 25% in Equities and Fixed Income & Research, 20% in Hedge Funds, 15% in M&As, 10-15% in Capital Markets, 10% in Private Banking and Risk Management, 10% in Trading and Commodities and roughly 7-10% in accounting and finance.

1. Do I have strong analytical skills;
2. Am I good in research;
3. Does my patience exceeds normal patience levels;
4. Do I enjoy reading the pages in Economic Times/Financial Express/Business Line that cover reports and analysis on stock market, foreign currency and India and world economy;
5. Do I like watching news on NDTV Profit, CNBC TV18 on issues related to economy, stock market, financial products, derivatives, equities and bonds and how are they valued etc; and
6. Do I have the habit for an attention to details.

So, if your interest is more in capital markets, financial management, forex, derivatives, hedging and you have a knack to do research oriented work, CFA might be a good career option to you. Students of economics wanting to make a career in corporate finance do well in CFA. I personally think if you enjoy reading about stock exchange, derivatives, policies related to exchange money control and foreign exchange and the subject economics and world around it excites you, CFA probably would be a good bet for you to try as a career option.

About the CFA Course

Enrolment for International CFA

1. Level I (held in June and December every year)

1. Level II (held in June every year)

1.          Level III (held in June every year)

CFA Exams

International CFA Passing Criteria

With a 170 IQ and amazing problem solving skills, I was extremely confident that my first GMAT test would be my last. I thought I would be able to score that 700+ score quickly and be on my way to a business school.

Turns out, I was wrong.

I kept running out of steam in the last hour of the test. By the time I got to the verbal section, my mind was already fried and that meant a lower score on the GMAT.

And I am not alone. People fall short all the time. There are many of us with the right skillset and there are many of us who can compensate for talent by sheer hard work. But, it turns out that on the GMAT, even IF you could combine the right talent with the right amounts of hard work, you would still fall short.

The Internet is filled with comeback stories. Mine was no exception. I went from meager 500s to the coveted 700s. And nothing much changed. I did not study extra, did not suddenly learn new skills. The two things that really changed:

1. My psychological approach to the test

2. My stamina for taking the test

While I cover the first point in great detail in my Kindle book GMAT Mind Games, psychology would of little use without the mechanics to back it up. Stamina is what helped me score in the top 95 percentile. And that is saying something.

The GMAT is a four hour long, grueling test of wit and stamina. By the end of the four hours you could end up making as many as 350 to 400 decisions. And that takes a toll on the mind.

So, how do you make sure that you do not run out of energy?

Here are a few things I'd recommend:

1. GMAT practice tests: sitting for four hours

You HAVE to practice sitting in for four hours straight. The best way to do this is to take GMAT practice tests every week. Most people like to solve only the quant and verbal sections on the GMAT while skipping through the first two sections. That saves time, but does not help your preparation.

You have to go through the essay and IR sections, even on the GMAT practice tests. On the real test, you'll have to go through these sections as well. And whether you like it or not, you will only be able to reach the quantitative section on the real test after going through the first two sections.

Make sure you don't take GMAT practice tests that allow you to pause the tests. Even if you do use such tests, make sure you don't use this feature. The GMAT practice test conditions should simulate real test conditions.

2. Reduce the number of decisions you make

As already mentioned, you may have to make as many as 350 decisions during your four hours on the GMAT. That is assuming you would be able to make the decisions at all during the last hour of the test!

In addition to practicing sitting in for four long and mentally strenuous hours, reducing the number of decisions you make during the test also helps improve your ability to conserve energy.

Knowing when to quit is important. If you don't know a concept, or if you've spent over two minutes on solving a question, it is better to guess the answer and move on. Do not spend time trying to find a solution to a problem that is beyond your skill or ability.

The moment you let go of the need to ‘not quit’, your GMAT score will immediately take a jump.

Why?

Because, you'd probably be leaving/guessing over five questions before you reach the verbal section. This means you would be able to save your mind 20 to 25 decisions. Additionally, you'd be able to save 7 to 10 minutes - time that you could use on solving questions that you know how to solve.

3. Take planned breaks to increase stamina

Looking at a computer screen for four hours is tiring as it is. But, trying to solve questions, make decisions, stress about your performance, etc. can take a toll on the mind. So why not take planned breaks?

Most timing strategies will tell you that you should only make the clock visible after every 10 questions. That way you know whether you need to quit a question or if you need to pick up the pace.

But none of the timing strategies tell you to take a rest. Well, why not take a rest? Close your eyes for 20 seconds every ten questions, practice some deep breathing and calm yourself down.

So, on the quant section you would only be stopping after the 10th, 20th and 30th questions. After the last question in any case you'll get the longer break. So that means you'll be spending only 60 on planned minibreaks.

That is not so bad, considering the boost in your performance later on. Similarly, even while going through the verbal section, you can take planned breaks. By taking a rest, you'll be able to get to the end of four hours with a fresher mind, and a higher score. My own test experience and that of many of my students has been that you get a minimum score boost of 30 to 40 points, if you've scored in the 600s during past tests with this.

Of course, skills and knowledge matter too. But, stamina matters just as much.

If you follow the above advice, I can guarantee you that you won't run out of energy or stamina. And you'll be able to score higher without your mind going numb during the last hour of the test.

By Digvijay Katoch

If you’re considering pursuing an MBA, join the QS World MBA Tour in India from 20-27 May. Register online to secure your place onwww.topmba.com/MCI

Notes to the Editor

About QS

QS is the world's leading network for top careers and education. It links graduate, MBA and executive communities around the world, with recruiters and education providers, through websites, publications, selection services and events.

The company was founded by Wharton MBA, NunzioQuacquarelli, in 1990. Fellow director Matt Symonds, and the Paris team joined in 1994. Today QS operates globally from offices in Beijing, London, Paris, Johannesburg, Singapore, Sydney, Tokyo and Washington DC.

QS’ mission is to provide a lifetime of educational and career information to high-achievers.

It achieves this through the platforms of: publications, web services, events and software; all of which aim to support candidates at each stage of their career path, helping them reach leadership positions.

Our communities include: QS TopUniversities.com, QS TopMBA.comand QS Global Workplace.com.

The QS team of over 140 individuals from the four corners of the world represent the experience and goals of the achievers we aim to assist. They include internationally recognized experts in the higher and business education arena.

QS operates globally from offices in London, Paris, Stuttgart, Singapore, Beijing, Shanghai, Sydney, Washington DC, Boston, and Johannesburg.

QS World MBA Tour

The QS World MBA Tour is the world’s largest series of recruitment and information fairs for business school applicants. In 2013, over 100,000 MBA candidates registered to visit 85 events in 66 cities in 43 countries. The QS World MBA Tour offers a unique opportunity to meet admissions officers of the world's most influential business schools at venues around the world. Now in its twenty-second year, the Tour will consist of 200 events across 51 countries over five continents during 2014.

The QS symbol, TopMBA and the QS World MBA Tour are trademarks of the QS family of products.

Certified Management Accountant [CMA – US] is a boon to all those who are pursuing CA ,CMA ,CS in India. Here I am discussing how this course is an advantage to the aspirants of CA ,CS ,CMA .

Certified Management Accountant (US) is a professional who works for different types of business organizations to maintain a well versed financial and managerial policies that contributes to the growth of business. Many people in India know about CPA of US which is like CA in India. But some of them are unaware of CMA (US). CMA offers an extraordinary career growing opportunities in abroad especially for those who are planning to work in US with good values, earnings.They can command high amount of salaries like 50 lakhs and above.

Steps involved in becoming a CMA:

1.Complete your graduation in accounting or finance or economics:

Make sure your program includes an emphasison business studies, such business law, management, marketing and taxation. Many people who are interested in working in the business finance world pursue a double major in business and finance,or they get a minor in business administration. EX: B.com ,Bba ,Bbm ,Ba etc., this is not exhaustive list of examples.
Most of the CA students are pursuing their graduation in distance education or through open university.This is also eligible for applying for CMA. That’s why I said that this is an advantage to CA, CS students.

2. Apply for internship:

Like articleship in CA ,the CMA also has a rule in its curriculum that the applicant should have work experience. Accounting or finance internships give you real world experience and help you to network, a skill necessary when seeking any business position.
The greatest advantage to CA students is ” Articleship is considered as equivalent to internship that’s required to be completed in CMA”.

4.Approach IMA through a registered institute :

Next you have to register with IMA for getting permission to attend the examination conducted by IMA of US.
Logic institute of management studies is providing students all the guidance and classes to cover syllabus globally. You can contact the indian branch of Logic institute of management studies and go forward.

4.Apply for membership:

After qualifying the examinations conducted by IMA you are required to apply for the membership to continue your career in this profession.

5.Apply for a full-time job as a financial manager or a management accounting:

After obtaining the membership you can apply for different kinds of jobs in the industrial and service sector.You can easily get a job in US without waiting for a long.Before applying for job you need to prove that you have worked in the fields of accounting ,finance ,management at least for 2 years.

“You can complete this 2-year work experience after you take the exam as well. Once you are a CMA candidate, you have 7 years to submit proof of your financial management experience.”.

courtesy- caknowledge.in

Financial Risk Management (FRM) Course an Overview & Full Details. Here we are providing all details for FRM Course like About the FRM Program, Roadmap of FRM Program etc. FRM Course is a Great Opportunity for getting a best Job. In This article you can find all Details for FRM Program, Now you can scroll down below and see full details For “Financial Risk Management Course an Overview”. In My Next Article I can Provide Study Material and Career Benefits of FRM Program. I hope you can like this article.
The Financial Risk Manager (FRM) designation is the globally recognized standard for those who manage risk.
Certified FRMs are part of an elite, global network, and are valued by top employers across diverse businesses.

Financial Risk Management (FRM) Course an Overview

About the FRM Program

With seismic changes continuing to occur in the financial services industry worldwide, professionals who manage risk, money and investments are recognizing the need to objectively demonstrate a globally standardized level of up-to-date industry knowledge.

Requiring the successful completion of a rigorous two-part, practice-oriented examination, the Financial Risk Manager (FRM) designation provides a bedrock foundation in a profession and industry that is rapidly evolving. Since the FRM Program’s inception in 1997, Certified FRMs have achieved positions such as Chief Risk Officer, Senior Risk Analyst, Head of Operational Risk, and Director of Investment Risk Management, to name a few.

The global FRM community is growing dramatically, with Certified FRMs represented at nearly every major banking institution, government regulator, consulting firm and financial services institution around the world.

Fast Facts of FRM Program

• There are over 32,000 Certified FRMs practicing worldwide


• Over 150,000 registrations for the FRM Exam since 1997


• In 2014, FRM candidates came from 143 different countries and territories


• Registrations for the 2014 FRM Exam represented more than 6,000 organizations globally


• 923 Organizations had 5 or more FRM registrations in 2013

FRM Program Roadmap

FRM_PROGRAM_ROADMAP The FRM designation is the most globally respected certification for financial risk management, owing to a rigorous program that ensures that Certified FRMs have mastered the necessary skills and knowledge to succeed in today’s rapidly changing global financial industry.
There are no educational or professional prerequisites to sit for the FRM Exam. However, to become a Certified FRM, candidates must complete the FRM Program as outlined below:



The FRM Exam tests progressive, cumulative knowledge; the concepts tested in Part I are needed for Part II. Thus candidates choosing to sit for both Exams — Part I and Exam Part II — on the same day, must pass Part I before Part II will be graded.
In order to become a Certified FRM after passing the FRM Exam Part II, candidates must demonstrate a minimum of two years of risk-related full-time professional experience.
To review the requirements for FRM certification in full, please click here. To view a sample list of job titles that qualify candidates for FRM certification, please click here.

Preparing for the FRM Exam

The FRM Exam Preparation Handbook is designed to assist FRM candidates in their preparation for the FRM Exam by suggesting strategies for completing the reading material. To review this resource, and to access other study materials, please click here

In brief:

The FRM Program offered by GARP (USA)ensures that FRMs have mastered the necessary skills and knowledge to succeed in today’s rapidly changing financial industry.

The FRM is a qualification for risk management professionals, particularly those who are involved in analyzing, controlling, or assessing potential credit risk, market risk, and liquidity risk as well as non-market related financial risks. FRM holders perform a broad variety of functions related to risk management within investment banks, asset management firms, as well as in corporations and government agencies.
Top employers of FRM holders include global financial services firms Deutsche Bank, HSBC, and UBS, as well as auditing firms KPMG, Ernst & Young (EY) and PricewaterhouseCoopers (PwC).