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 Whys is Financial Awareness so important?

What is financial planning? Contrary to popular belief, financial planning is not just investing. It is a process. It allows you to manage your finances in such a way that you link it to your goals. Making a standalone investment in a life insurance product means nothing if you do not know the amount of cover you need, or whether the maturity proceeds are adequate, or whether you need a life cover.

The process of financial planning should help you answer three questions. Where you are today, that is, your current personal balance sheet, where do you want to be tomorrow, that is, finances linked to your goals, and what you must do to get there, that is, the asset allocation and investment strategy that will help you achieve your objectives.

Developing a financial plan needs a consideration of various factors. First, your objective or the purpose for which the investments are being made. The time period, too, is critical, since the longer the period of investment, the higher is the ability to absorb risks. Also, one of the most important factors that many of us did not account for earlier is inflation. The level of inflation can deplete your return from investment considerably. Today's expense of Rs 10,000 would be Rs 43,000 in 30 years if the inflation rate stays at 5% per annum.


A.    Financial Education: CA/CFA/CIPA/CS/ICWA


 CA vs CFA Difference

CA mainly focuses on Taxation, Auditing and Accounts. CA is recognized under national laws so that CAs can do practice, can do auditing like for India it's ICAI members.

While CFA as name suggest, it is Financial Analyst for USA it's AICPA members..

CFA for mainly working in USA base corporate accounting and taxation.

For those desirous of making a career for themselves in the field of commerce, two courses are very popular namely CA and CFA. While CA stands for Chartered Accountant, CFA refers to Chartered Financial Analyst. Though both have similarities belonging to the same stream of commerce, the areas of study in both these courses are quite different. This article attempts to highlight the differences between these two courses to enable students to go for either depending upon their requirements and career opportunities.


A chartered accountant is the person who deals with accounting, taxation, auditing, and evaluation of any business establishment on financial parameters. Though book keepers in companies need not be a chartered accountant, most big organizations today prefer to have CA’s to streamline their financial statements in accordance with the rules and regulations to have smooth passage during audits. Having accurate and up to date accounts is of paramount importance for any company which is why there is a great demand for chartered accountants in the industry.


A chartered financial analyst is a person trained in areas of management accounting, financial management and investment. A CFA is a professional who analyzes and presents summary reports on investments and capital to corporations. Investment is one field where there are umpteen opportunities for a CFA as he can get attractive job options in both private as well as public sector undertakings. CFA’s are in great demand in finance sector especially banks, financial institutions, insurance companies, and large corporations.

While a CA is a prerequisite in all sorts of establishments, CFA’s are more likely to be absorbed in large companies in financial sector. While a CA is mainly concerned with book keeping and auditing, CFA’s have ample job opportunities as their expertise is required by corporations while making financial decisions. Despite the fact that CFA’s get more salary and get absorbed in different financial positions, the demand for CA’s is never going to be low as they are essential for every company, small or big

CFA Program:

The Chartered Financial Analyst® (CFA) credential has become the most respected and recognized investment designation in the world; enrolling in the CFA Program is your first step toward earning this qualification.
The CFA Program curriculum covers concepts and skills you will use at all stages of your career, connecting academic theory with current practice and ethical and professional standards to provide a strong foundation of advanced investment analysis and real-world portfolio management skills.

  • Most graduate school programs cover a broad range of topics; the CFA Program focuses specifically on investment knowledge.
  • The self-study format makes it easier for you to continue working full time while you earn the charter.
  • Employers know the CFA Program provides the skills needed in today's global, dynamic marketplace and that earning the CFA charter demonstrates the commitment to excellence required of today’s investment professionals.

CFA Program –Enrolment Eligibility Criteria and Institute in India

Enrolling in the CFA Program is your first step toward earning this qualification and increasing your career opportunities. In fact, 37% of CFA Program candidates identified career advancement as their primary motivation for registering for the exam. (Review the results of the 2015 candidate survey.)

Sign up and get access to the 2015-2016 Career Guide to see career profiles of CFA charterholders and get practical, professional career advice.

1.  CA Details

The Chartered Accountancy course has three levels : First Stage : CPT or CA Entrance ( Common Proficiency Test ) Second Stage : CA Intermediate / IPCC Third Stage : CA Final

 Please refer the below link for CA courses/fee and  syllabus  more detail

2.  CFA –Details

Courses :

The course of study is organized into three levels and each level requires passing a six-hour exam. The program curriculum increases in complexity as you move through the three levels:

  • Level I: Focuses on a basic knowledge of the ten topic areas and simple analysis using investment tools
  • Level II: Emphasizes the application of investment tools and concepts with a focus on the valuation of all types of assets
  • Level III: Focuses on synthesizing all of the concepts and analytical methods in a variety of applications for effective portfolio management and wealth planning

 Program Enrolment:

one-time program enrollment fee is required when you register for your first Level I CFA Program exam. You must also pay the exam registration fee (see below for deadlines).

All registration deadlines end at 11:59 pm ET.

1)     June 2016 Exam (Levels I, II, and III)

Early registration fee

Deadline passed

(ended 28 September 2015 at 11:59 p.m. ET)

Standard registration fee

US$ 860

(ends 17 February 2016)

Late registration fee

US$ 1,280

(ends 16 March 2016

Registration details :

Course Details  : Please visit below links

The December 2015 Level I exam will be offered at these test centers in India:

  • Bangalore
  • Kolkata
  • Mumbai
  • New Delhi

Refer website  link for CFA details- you will get all details by  email

Related Que/Answer :

 Which test center should candidates in India select?

Candidates may select a test center in India or in any available location worldwide, including many in the Asia Pacific and Middle East regions.

 Has the lawsuit between CFA Institute and Icfai ended?

CFA Institute has reached an agreement with the Institute of Chartered Financial Analysts of India (Icfai) that resolves trademark litigation between the organizations.

CFA Institute believes this is an appropriate settlement to the long-standing dispute, and the resolution will allow CFA Institute to focus on supporting its members and candidates in India and contribute to the advancement of the Indian investment profession.

 How can I learn more about this settlement?

While the terms of the agreement are confidential, CFA Institute and Icfai have provided limited details to their local members via a website announcement. View the announcement on the CFA Institute website.

For more information on the CFA Program and efforts by CFA Institute to restore trust in the global investment profession, visit

 Can I use my CFA designation in India?

Yes, CFA charterholders from CFA Institute have always been, and continue to be, free to use the "CFA" and "Chartered Financial Analyst" marks throughout India.

 Will the Indian Association of Investment Professionals change its name?

We are not aware of any plans of the IAIP to change its name at this time.

 Is the AICTE proceeding ongoing?

No. At a hearing in April 2012, the AICTE declared that its executive committee concluded that the existing AICTE regulations do not apply to the CFA Program. With the dispute resolved, the Court closed the case.

 What is the future of CFA Institute in India?

CFA Institute now has six CFA test centers in India (Bangalore, Chennai, Kolkata, Mumbai, New Delhi, and Pune). We will continue to work with the Securities and Exchange Board of India and the National Institute of Securities Markets and plan to strengthen resources to universities and faculty in India. Please continue to for updates about our activities in India.

About CFA Program

  • CFA Program is a professional credential offered by the CFA Institute(formerly AIMR) to investment & financial professionals and students
  • The CFA Program Certification has three different Levels and the minimum time required to clear all three is approximately 2 years
  • CFA Program charter holder membership requirements are 48 months of acceptable professional work experience and passing the Level I, Level II, and Level III exams
  • Global Recognition: With a six-decade history of maintaining a rigorous focus on globally relevant investment knowledge, the CFA Program is the most widely known and respected investment credential in the world.
  • Career Advantage: Employers recognize the CFA Program charter as the definitive standard by which to measure the competence, integrity, and dedication of serious investment professionals.
  • Practical Skills: The CFA Program curriculum focuses on the practical knowledge and current real-world skills necessary in the global investment management profession. These skills are immediately useful on the job.
  • Community: Earning the CFA Program charter places you in the company of an elite group of more than 90,000 respected investment professionals. Access to their collective expertise, networks, and resources is an invaluable asset. Source

3.      CIPM Program:Certificate in Investment Performance Measurement

Enroll in the Certificate in Investment Performance Measurement (CIPM) Program for advanced, globally relevant, and practice-based investment performance and risk evaluation skills.

The CIPM designation will set you apart as a deeply knowledgeable investment performance professional committed to your clients’ best interests and your firm’s success.

Completing the CIPM Program will help you:

  • Deliver more actionable investment insights
  • Improve manager search and selection
  • Produce comprehensive and transparent reports
  • Increase risk awareness
  • Provide feedback to maximize your firm's efficiency

 Refer Below Links for more details :


4.      CS (Company Secretary) Program

Company Secretary is a course which one of the most sought after courses in India. This course is administered and controlled by The Institute of Company Secretaries of India (ICSI). This institution is established under the Company Secretaries Act, 1980. The main objective of the establishment was to develop and control the CS profession in the country.

A CS course will enable the students with the know how of the latest process and practice in the corporate world. It also makes the students aware of the financial and legal affairs in the companies.

The service of an experienced Company Secretary is an unavoidable requisite for a company’s management.

Company Secretary Course is separated into to 3 stages:-

  • Foundation Program
  • Executive Program
  • Professional Program

Read more here:

The subjects of study for the Foundation Course are:

  • English and Business Communication (FCEBC)
  • Basic Economics and Business Environment (FCBE-BE)
  • Financial Accounting (FCFA)
  • Elements of Business Laws and Management
  • Information Systems and Quantitative Techniques (FCISQT)

Final Course for Company Secretary is a 10 month long course. It is the last and final course in the route of becoming a Company Secretary.

In the CS Final Course, there are basically 9 subjects. These are arranged into 3 groups which include 3 papers of 100 marks each.

Group I:

  • Advanced Company Law and Practice (FACLP)
  • Secretarial Management and Systems Audit (FSMSA)
  • Secretarial Practice relating to Economic Laws and Drafting and Conveyance (FSPELDC)

Group II:

  • Banking and Insurance-Law and Practice (FBILP)
  • Corporate Restructuring-Law and Practice (FCRLP)
  • Financial, Treasury and Forex Management (FFTFM)

Group III:

  • Direct and Indirect Taxation-Law and Practice (FDITLP)
  • Human Resource Management and Industrial Relations (FHRMIR)
  • World Trade Organization-International Trade, Joint Ventures and Foreign Collaborations (FWTO)

Read more here:


Refer Below links for details


5.      ICWAI  Program

Institute of Cost & Works Accountants of India (ICWAI)

A Cost Accountant is expected to collect, assimilate, collate and analyze financial information from all areas of the organization. A cost accounting degree equips you with the knowledge on how to manage finance competently


6.     CPA-Certified Public Accountants

In order to become a CPA in the United States, the candidate must sit for and pass the Uniform Certified Public Accountant Examination (Uniform CPA Exam), which is set by the American Institute of Certified Public Accountants (AICPA) and administered by the National Association of State Boards of Accountancy (NASBA)


The American CPAs are the largest body of accountants in the world, followed by the Chinese CPAs, who with more than 500,000 students are no doubt on track to become the largest. The Australian CPAs are the fourth largest. In America there are, effectively, only CPAs.

The accountancy profession in the United Kingdom is highly fragmented with over fifteen different accountancy bodies, six of whom are incorporated under a royal charter. Many of these bodies, despite being dominant in their own sector, are niche players or focus solely on a particular geographical area. There are more CPAs in America than all of the U.K. chartered bodies put together.

i)      Certified Public Accountant

Associate (ACPA) membership is a full corporate grade of membership and is available through one of the following routes:-

  • Membership of any chartered body or any other acceptable recognised professional body
  • Have gained a first or post graduate degree in finance or accountancy from a recognised university
  • Have a minimum of two years approved experience

Fellow (FCPA) is available to anyone holding that designation with any other chartered or recognised professional body or to Associates of  five or more years standing.

Associates & Fellows of the Association may use the designation “Certified Public Accountant”. Associates & Fellows who wish to use the Association’s designation and or designatory letters in connection with their practice must be in possession of a valid current Practising certificate issued by the Association.


CPA Highly Accounting for America and UK and CA is for INDIA.

All your question answer will get here –please visit the below links.


Q. You (Samrat) said that one should look at processes rather than managers of a fund. What kind of processes should one look at?

The investment processes for an equity fund has three stages. The first is stock selection, the second is portfolio construction and the third is risk management. What an investor sees is a simple NAV of the portfolio, but how well the portfolio does on a risk-adjusted basis is a function of these processes.

"The pedigree of a fund, in terms of how long it has existed in the Indian market and its track record, is important."

Unfortunately, for a retail investor, it is very difficult to gauge the strength of a fund's processes. You cannot ask an AMC how strong its investment management processes are, which is why financial services and wealth management are businesses of trust, not innovation. This is also why the pedigree of a mutual fund, in terms how long it has existed in the market, and its record, is important. It gives you an indication of the robustness of its investment processes and the risk control mechanisms.