CAs make way for BCom grads

The India corporate sector is running low on skilled manpower in the finance and accounts functions. Rapid growth has resulted in a scarcity of charerted accountants (CAs) and cost accountants (ICWAs). This scarcity means CAs and ICWAs are now becoming more demanding in terms of salary, work conditions and portfolios as they have multiple offers to pick from. The situation becomes even more critical when CAs and ICWAs leave their employers in the months of February to June. This is the time when companies close their books of accounts and prepare for budgeting and tax audits among other activities.

The scarcity has come as a blessing for fresh and experienced commerce graduates, who are being seen as a more stable bet. Even key positions in the finance and accounts department like finalisation of the balance sheet, MIS budgeting and taxation are now open to these graduates. The trend has been intensified by the rapid flight of CAs and ICWAs from one organization to another. Take the example of one young professional who claims that he has seen 34 CAs and ICWAs in his nine-year stint with an organization. ?It is always advisable to keep experienced commerce graduates or inter pass CAs / ICWAs at key position in the finance and accounts department. After all, a dependency culture is not healthy,? says a senior finance professional.

The demand is not restricted to manufacturing alone. New-age industries like BPO and KPO are also hiring commerce graduates. And experienced commerce grads have started finding employment in many companies, especially small and medium enterprises. Job portals are also full of opportunities for these young professionals.

Educational institutes can also play a constructive role in opening up such opportunities for fresh commerce graduates. Institutes have the responsibility of equipping graduates with a good knowledge of accounting and commercial law as these are a prerequisite for a career in finance and accounts. These opportunities can be further explored by those who have knowledge and experience in the latest accounting software like SAP/ERP and Oracle; apart from knowledge in software like Tally and Fox-Pro. By gaining additional skills in these areas commerce graduates can take advantage of this scarcity situation and create enviable careers for themselves.


Source: Economic Times 10th July 2006