12-31-2003, 07:36 PM
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salaam all,
well mr. sonu, i cannot reply with 100% accuracy ... bcoz i have no link with accounting at all, i have just got admission in MBA n my classes r yet to commence. but i can try to explain it according my limitted knowledge tht i got from this forum.
chartered accounting is mainly abt professional financial accounting including auditing n taxation as the main strong points. ACA, ACCA r in this paradigm. basically they r "auditors"
management accounting is a mixture of many things, it encompasses finance, accounts, mgmt. skills n many similar things. ACMA,CIMA,CMA etc r in this category. basically they r in financial management. if u vizit the website of CIMA, they have highligted the phrase "world class financial management" on their main page. but in the professional life, the differences start to blur as u proceed n gain experience. both can do the same jobs n get the same designations. it dznt matter a lot in the long run.
the main reason tht CA is prefered is tht they go through very tough 4-yr-articleship n they have complete command over the laws of taxation n audit of tht country. but mgmt. accountants r also in high demand arround the globe.
i m sure tht other fellows of this forum will clarify it in much more detail
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FARHAN
salaam all,
well mr. sonu, i cannot reply with 100% accuracy ... bcoz i have no link with accounting at all, i have just got admission in MBA n my classes r yet to commence. but i can try to explain it according my limitted knowledge tht i got from this forum.
chartered accounting is mainly abt professional financial accounting including auditing n taxation as the main strong points. ACA, ACCA r in this paradigm. basically they r "auditors"
management accounting is a mixture of many things, it encompasses finance, accounts, mgmt. skills n many similar things. ACMA,CIMA,CMA etc r in this category. basically they r in financial management. if u vizit the website of CIMA, they have highligted the phrase "world class financial management" on their main page. but in the professional life, the differences start to blur as u proceed n gain experience. both can do the same jobs n get the same designations. it dznt matter a lot in the long run.
the main reason tht CA is prefered is tht they go through very tough 4-yr-articleship n they have complete command over the laws of taxation n audit of tht country. but mgmt. accountants r also in high demand arround the globe.
i m sure tht other fellows of this forum will clarify it in much more detail
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FARHAN
