The corporate sector's multiplying challenges calls for specialisation - A Financial Analyst's role focuses primarily on financial analysis while the CA focuses on financial accounting, taxation and costing, the Auditor on is the policeman for the financial accountant and a Taxation Expert is the professional on all tax laws and procedures.
All the above jobs can be in-house in a corporate or can be in a Accountancy firm / Consultant. The best route to enter any of these professions would be through a Chartered Accountancy Program (for Audit this is the only route) else Certified Financial Analysis (CFA). Details of the same are given below under the Study Routes Section.
The Job
- Collect, organise, collate and analyse all internal and financial information to evaluate regular critical analyses of past and present financial performance and make projections for the future which influences decisions.
- Management accountants monitor all costs from raw materials and labour, to transport, administrative costs, overheads on buildings, etc.
- They analyse sales trends.
- Cost auditing provides an evaluative data of a company's past performance, current product profile making possible suitable product pricing.
- They monitor performance and efficiency to locate and report on problems, provide figures on which to base future pricing policies, and suggest ways of economising by analysing costs and implications of different production methods.
- They conduct Audits – internal and external. Checking that the organizations financial records are in order and are meeting all statutory requirements.
- They provide consultancy services to organizations on issues such as cost control, taxation etc.
- They also provide advice and consultancy services on issues that relate to conceptual and technical inputs in the areas of Indian Financial System & Accounting, International Financial Management; jobs that involve analysis, with inputs from Economics, Quantitative Techniques and Economic Legislation which is required by the Securities Industry, Security Evaluation and Investment Management; they undertake Project Planning, Venture Capital, Leasing, Hire Purchase, Factoring, New Issue Management, Credit Rating and other allied areas.
- Staying extremely updated and aware of changes in the economic environment and government regulations
Personality Traits
- Excellent Analytical & Reasoning powers
- Good Judgement
- Sound Financial Skills
- Objective Outlook
- Leadership skills
- Ability to work under pressure
- Team Worker
- High level of General Awareness
- High level of integrity
Salaries
- Consultant - Starting Position. INR 3 – 4 lacs after a PG degree.
- Partner in a Consultancy : Approx INR 1 Crore per annum
Prospects
- All Corporates and Financial Consultancies
- Best Companies include – Ernst & Young, AF Ferguson, PricewaterHouse Coopers etc.
Related Courses/Colleges:
Accounting Courses
Banking Courses
CA Related Courses
Insurance Courses
Securities & Trading
MBA in Finance
Related Links:
Good post!! Thanks for clarification of duties of Financial Analyst and CA.
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