NELSON MANDELA said- Education is the most powerful weapon which you can use to change the world.
For a man who spent 27 long years in prison in his anti-apartheid battle, received about 250 honors worldwide, including the Nobel Peace Prize, he truly valued the importance of Education.
It is inspiring for all of us, to take a leaf from his life and give due weightage to the value of education, if we have to have a successful career-be it in finance sector or any other chosen sector.
Professional certification in the finance sector includes CA/CPA/CMA USA/ACCA /FRM and such specified qualifications which are issued by respective regulatory bodies or Institutes.
These certificates are granted after the members pass the exams and training as mandated.
These qualifications also requires a specified number of hours annually of continuous learning programs for knowledge up-gradation to stay abreast of the various and ever changing statutes.
Professional Certification is specifically mandated by the Government Authorities in India and also globally for certain specified roles, like Statutory Auditors, Tax Auditor, Transfer Pricing Auditor, Cost Auditor etc. Consequently, these certificates provide exclusive authority to the certificate holders to handle the assignments. For instance, the Institute of Management Accounting (IMA) offers CMA USA.
Further, the certification confers a very important role as it provides a unique and distinct credibility due the high level of standards it bring into the profession. This is largely due to the quality of education imparted as well as professional ethical standards that is embedded.
In view of this, the revenue authorities rely on these certified professionals to provide a confirmation on the corporate finance statements filed as well as the taxes filed and paid.
It is expected that due to their presence, good governance is established; best practices are adopted and sustained.
In today’s risk prone business environment, a certified professional would help identify risks and also suggest preventive and remedial measures.
In the same way, a Certified Professional would offer active support to the management to take considered business decisions which would make a good impact on productivity,profitability etc
Basically a professional certification is a professional recognition awarded by regulatory bodies and institutes whereas MBA is an academic degree.
Both professional certification and MBAs are good enough for a finance career. However, professionally certified resources are a clear winner, wherever it is mandated like Statutory Auditor/Cost Auditor/Tax Auditor etc.
MBAs from premium Indian Institute of Managements(IIM) have a clear advantage over the Tier 2 Institutes.
Confucious once said- Choose a job you love and you will never have to work a day in your life.
In order that we live up to this philosophy, it is imperative that a considered decision is taken after looking at various options available.