Finance

Have you just passed your final school board exam or a college student with a commerce or non-commerce background and want to build your career in the accounting and finance domain? Wanna get a decent job in MNCs? If yes, this is for you. You might acknowledge that in today’s competitive world having a mere academic degree is sub-optimum to achieve your dream.

Are you a working professional in the accounting and finance domain and want to spread your wings in corporate leadership in the boardroom? If yes, this is for you.

If you belong to either of the above categories, you must possess a globally recognized professional credential that suits you to reach your desired destination.

Uplift Professional Academy having various international collaborations, is serving the following platters at the most affordable price for your perusal.

• Uplift-Surgent US CMA Platter

You need to be a graduate from any background to clear a 2-part online exam that can be done in an average of a maximum of 18 months. Being a partner of IMA and Surgent International, it offers a much higher pass rate on the first attempt. This is a top-order management accounting certification preferred by the MNCs.

• Uplift-Surgent US CPA Platter

You need to have a post graduate qualification to write this 4-part online exam and have an inclination to hard core auditing jobs and want to pursue independent practice in the USA. Surgent’s unique AI based software is the key element here to pass the CPA exam with end-to-end support from Uplift Professionals.

• Uplift-Surgent Enrolled Agent (EA) Platter

If you want to build your career in US taxation and you do not have classified academic qualification, this is for you. Just clear the 3-part online exam in 6 months and get licensed from Internal Revenue Services (IRS) of the US government. You can do a job in taxation or can practice as a tax expert.

• Uplift-Hock CIA Platter

Uplift Pro in partnership with Hock International, is presenting an effective study package to make you a Certified Internal Auditor (CIA) at a much affordable price.

• Uplift-Hock FMAA Platter

Are you just 12 pass or in college bench or still not confident to take CMA US? Here is the foundation course of limited duration single exam menu to get an international management accounting certification from IMA. This new course launched by IMA is being considered to have big promises.

• Uplift-Hock CSCA Platter

This recent curriculum from IMA is meant for seasoned accounting professionals who want to expand their strategic management expertise. CSCA certification is meant for those who want to see them sitting in the boardroom as CFOs or higher ups. The one and only Hock International’s unique study material with Uplift Professional’s mentoring support can fulfil your dream in a decent way.

So, Hurry Up! Select your desired platter from the menu above and carry on.

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Since inception, the accounting career and profession encompasses significant evolution in principle and practices. The decade old manual bookkeeping systems to maintain financial records sometimes with handwritten ledgers and hefty paper works has been partially replaced by use of computers and software like QuickBooks to some extent. This resulted in a generation of stereotyped but hard-working accountants. Now, we are at the doorstep of tremendous technological metamorphosis in every sphere including the professional accounting domain. Keeping this in mind, today’s challenge for accounting professionals is a demand of transformation from a hard-working accountant to a new age “Smart accountant” par se.

Let us discuss the main pillars to accept such challenges through digitization and recent advancements in accounting technologies which a new age smart accountant must be familiar with.

Cloud Computing

Cloud -based solutions bypass traditional installation of accounting software in individual computers. Here, it is hosted by third- party servers where accountants have accessibility through web browsers with automatic saving of back-up data in the cloud. This is cost-effective for the companies, highly scalable and can be operated from any compatible device from any location.

Robotic Process Automation (RPA)

This replaces human intervention for repetitive accounting tasks through automation. This includes generation and scanning of invoices, detection of variances in financial records and response to vendor inquiries etc. Finally, it reduces human error also.

Machine Learning

Here comes the use of algorithms in various models which enormously help to handle vast data sets with smooth transaction processes and real-time data predictability -a boon for a new age smart accountant.

Data Analytics

This amalgamation of software, tools and statistical procedures create in depth insights into the financial status and prediction through effective analytics. The various analytical tools help in problem solving, risk assessment, performance monitoring and forecasting etc. Through this, a new age smart accountant can design business strategies based on data analytical decisions.

Artificial Intelligence

Artificial intelligence (AI) is invading the accounting field at a great pace and revolution. It can manage and analyze huge data in a short period, can replace repetitive accounting jobs thus saving time and provide the new age smart accountant to focus more on critical thinking and strategic decision -making abilities.

Cybersecurity

This newly advancing technology helps the new age smart accountant to keep the sensitive data safe and protect from fraud and criminal activities.

Summary

As we are experiencing, enchanting technological developments are influencing the accounting profession at a great pace and remodeling the accounting industry to newer shape. Hence, to cope with this revolutionary process and to make the conventional accounting job future proof, conversion of hard-working accountant to a new age smart accountant is the need of the hour. One of the ways to achieve this is fetching a good international professional credential in the academic accounting portfolio to become a New-age Smart Accountant.

For further information/assistance, contact:

www.upliftprofessionals.in

FMAA (Financial and Managerial Accounting Associate) is the new entrant from the portfolio of Institute of Management Accountants (IMA) that was introduced recently and is being considered as a path breaking foundational certification course for accounting and finance professionals. Acquiring the FMAA certification will help the professional, particularly at the entry level to make them more presentable to the present-day employers with solid foundational knowledge and upskilling in present and future accounting arena. With the current challenges faced by the accountants with the intrusion of technologies and shortage of well-equipped accountants, the FMAA certification is meant to break the traditional barriers to make the field wide open for not only the accounting field but also from other domains to make it accessible for any business professionals.

FMAA Eligibility

The beauty of this innovative curriculum is regardless of educational background, there are no prerequisites to pursue the FMAA certification course allowing business professionals as well as entry level personnels from every corner to attain this certification.

FMAA Course

To get the FMAA certification, one must acquire knowledge in 5 below mentioned content domains with respective weightage of each section.:

• General accounting and financial management (25%),
• Financial statement preparation and analysis (25%),
• Planning and budgeting (20%),
• Cost management and performance metrics (20%),
• Professional ethics (10%).

FMAA Exam

With a recommended 50 hours of study, the FMAA is a single part exam of 2 hours duration having 80 MCQs to answer.

FMAA Registration

As per IMA, it will start from January 2024 for the initial testing windows of March 2024 in English and exams will be conducted by Prometric centers across the globe.

Summary

The FMAA certification program provides a unique innovative opportunity for accounting students and professionals to acquire essential fundamental accounting and finance skills for everyday use in the workplace, including the tech sector financial services. Apart from the budding accountants, FMAA is aimed to target talent acquisition in professionals from non-accounting sectors too and those are not able to pursue the CMA US program to make them hirable by the employers.

For further information/assistance, contact:

www.upliftprofessionals.in

All our accounting and finance buddies are well versed with financial data in their day in day out business. Then why does this data analytics separately mean for them? To address this, it has to be admitted that companies nowadays have access to more information than ever before. In fact, this is substantiated by the data from “SeedScientific” which estimates that every day 2.5 quintillion bytes of data are generated. But what does that mean for an accountant? Despite the historical record of accounting numerical, it simply means opportunity.

According to the Journal of Accountancy, data analytics “…includes sourcing relevant data and performing analyses…and using the insights gained from analytics in decision-making.” Thus, the knowledge and experience of an accountant with data analytics skill enables them to explore deep into the huge data and extract the value in it. Let’s see the prime aspects of data analytics that immensely help an accountant.

Deciding with underlying Strategy: Being an accountant, once you acquire the skill of data analytics, you will be the sought after person for hiring because you know the strategic decision making by exploration and interpretation of big data.

Alleviation of Risk: It is true that if you have better analytic skill, you can assess the underlying or forthcoming risks much better. Henceforth, you will be more equipped to identify fraud or detect any anomalies or find out the operational areas which need attention.

Concurrent Analysis: As we are aware that reflection of financial operations used to come later in the form of financial reports/statements periodically. Hence, there is little scope to mend it if required. Data analytics, on the other hand, present much deeper reflection of the same financial operation in a real-time format that facilitates quicker implementation of strategic decisions.

Elevating Productivity: We must accept that gone are the days when we accountants thrive on manual spreadsheets as our tools. Data analytics tools can easily replace your repetitive jobs so that you can focus on other larger issues. Moreover, knowing languages like Python and “R” will help to create custom algorithms and data models that can be used with larger sets of data.

Rising over others: With the mastery of data analytics with your accounting skills, you will be able to dive deep insight into the huge data and extract the useful information at your fingertips which a conventional accountant without data analytics skill will dare to imagine.

Ahead in the Talent Hunt: Skill of data analytics is nevertheless considered as a talent which hiring authorities are eager to include in their pack. So, acquiring the knowledge of data analytics with accounting skills will not only help securing your current position, but also make you a future proof accountant.

To sum up, according to Forbes, by harnessing big data, accountants “…could leverage data management tools, including augmented reality, to humanize and contextualize spend data for the C-suite to make better decisions based on long-term value rather than return on investment alone.” With continuous generation of new data sets, data analytics in accounting is an ever evolving and increasingly important field. The potential and power in data makes this an exciting and challenging time for accountants to boost their career by expanding their skill set.

For further information/analysis, contact:

www.upliftprofessionals.in

By now, we entered the hall of the post-pandemic era, we have learned that to survive and excel in the accounting job market, we need special knowledge and upgraded skill sets with a positive attitude to learning as a continuous process. It is not about just handling the money matters, rather to make yourself future proof against the robotic uprising in the accounting arena of corporate sectors.

Hence, the challenge lies in the transformation from everyday accountant to exceptional accountant as per the demand of the industry. According to Helen Brand, chief executive of the Association of Chartered Certified Accountants (ACCA), “To succeed as a professional accountant…a vastly different set of skills is required than was necessary just 10 short years ago.

And in the next decade, things are likely to change even faster and more dramatically as the global economy continues to evolve at an ever-quickening pace.” Let’s look into the need and required skill sets for new age accountants.

The Entry Level Accounting Jobs

1. Junior accounting associate

2. Staff accountant

3. Tax accountant

4. Audit associate

5. Accounts receivable/accounts payable clerk

Skills Required to be a Successful Accountant

The technological advancement like in other fields have also penetrated the accounting domain and have changed the scenario a lot which have not been foreseen in the past. Taking the above cues, the present-day accountants need to show their proficiency in the following areas.

1. Communication

No doubt at any stage of career including accounting job, this is the basic skill required to bring clarity in explaining different financial situations to co workers and clients with superior clarity.

2. Evaluative Thinking

This is the skill needed to be seen in a successful accountant, the ability to think critically that help in a quick decision-making process in a highly effective manner.

3. Creative Problem-Solving ability

Today’s firms need accountants who can think of a problem outside the box and solve it with outstanding creativity. This is a continuously evolving process, where the accountant has to be embedded to impress the employer as well as to bring more smoothness in the career path.

4. Project Management

Gone are the days when an accounting job was a solo performance by performing the routine assigned jobs. The present-day mantra is team work. Hence, firms are more interested in hiring accountants who have exposure to project management. Nothing to be worried about. If you don’t have the experience, you can grab it from various learning tools/short term courses on the same at your fingertips.

5. Microsoft Excel

One has to have proficiency in using this particular tool in accounting jobs. If you are not comfortable with pivot tables, VLOOKUPs etc. you have to learn it.

6. Data analysis

Today’s accounting needs handling of large accumulation of data with effective analysis and filtering to make it sensible. Accordingly, the present-day employers need their accountants to provide recommendations supported by analyzed final data itself.

7. Cloud-based Accounting Software

In the metamorphosis of everyday accountant to exceptional accountant, you have to be tech savvy as per the need of the hour. In order to cope with such need for real-time financial reporting, many accounting firms have changed over from conventional to the implementation of cloud-based accounting software. This indicates that as a current day accountant, you need to be comfortable working with programs like QuickBooks, Xero, and FreshBooks etc.

The Way to Learn Accounting Skills on Demand

The on job learning process is the best way in this journey and also a time-tested process. However, for a fresher this is not applicable before joining. So, what to do? An internship or entry level job can provide the learning opportunity. Another good alternative is to obtain a good professional accounting credential like US CMA/CPA/EA etc. before or after entering the accounting job arena. Along with the skill development, build your resume accordingly to get the interview call to finally land up into your desired career path.

A Meaningful Resume

1. Show the Pinnacle of your accounting experience

In this part of your resume, incorporate all relevant accounting experiences including internships. You can link your skills to specific duties you performed or use them to explain how you met certain key performance indicators (KPIs) including your familiarity with accounting software if any.

2. Calibrate your Achievements

Use numbers whenever possible to show your success like you can mention the number of team members you have worked with and your achievements or if you have led a team of interns, mention their number and the success achieved with you.

3. The Key Words

This is a very important part of the resume on which we generally don’t pay much attention. Please keep in mind that today’s employers rely on applicant tracking systems (ATS) to help them filter candidates. To be successfully selected by the ATS, it is suggestive of the use of appropriate relevant keywords throughout the resume in an optimized manner.

Summary

It appears obvious that to meet the demand of the present-day accounting firms, the present-day accountants have to be more tech competent with some special skill sets as mentioned above. One of the finest ways to meet the demand is to go for some professional accounting courses like US CMA /CPA/EA etc. which can be pursued along with the conventional academic curriculum or as early as possible after entering the job to extract maximum benefit.

For Further Information/Assistance, Contact:

www.upliftprofessionals.in