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Financial Analysis

Commerce Course in Chartered Financial Analysis

Chartered Financial Analysis

The last article focused on a Career as Company secretary which holds great value & promises high level posts in all sectors involving Finance & Planning. This issue lets know more about a similar career in Finance – Chartered Financial Analyst which has a history of just 20 years but reigns supreme in terms of Career prospects, remuneration & life.

Financial Analysis I.C.F.A.I : The Institute of Chartered Financial Analysts of India (I.C.F.A.I), a non-profit organisation, was established in 1984, with the objective of imparting high-quality training in finance and management to students, working executives and professionals in India. I.C.F.A.I launched the Chartered Financial Analyst (C.F.A) Program in 1985 and since then has been instrumental in developing a new cadre of finance professionals in India. The Institute also runs courses like Diploma in Basic Finance (D.B.F) and Merchant Banking and Financial Services (M.B.F.S).

About Chartered Financial Analysts

The Chartered Financial Analyst (C.F.A) is one of the most recent careers which has opened multiple opportunities in banks, financial institutions and corporate sector. Being a C.F.A, one gets to occupy very high positions which offer wide exposure, great responsibility & bigger challenges every time.

The Chartered Financial Analyst Program

  1. The Chartered Financial Analyst (C.F.A) Program was launched in 1985 and is well recognized by leading employers in India.
  2. The Government of India (A.I.C.T.E) recognizes the C.F.A Program as a Postgraduate Diploma in Financial Analysis.
  3. Its a self-study program and the Institute supplies study material to the enrolled students.
  4. Its basically aimed at Financial Management and Analysis.
  5. It gives an insight and undertstanding of corporate finance, investment management and financial services.
  6. Its away from the basic myth about accounts – book-keeping, auditing and taxation.
  7. Its focuses to provide opportunities for future needs of the corporate sector, the investment industry and the financial sector.
  1. Regular CFA Program
    Duration: 3 years
    Eligibility: Graduates in any discipline. Students appearing final year examinations are also eligible.
  1. Accelerated CFA Program
    Duration : 2 years
    Eligibility: First Class Graduates, Postgraduates, Working Executives and Professionals like CA / CWA / CS / MBA / CAIIB.

CFA Program Levels

The CFA Program is divided into three levels i.e. preliminary level, inter level and the final level. The examinations for preliminary level are held four times in a year in the months of January, April, July and October whereas the same for inter and final level are held twice in a year in the months of January and July. The students are required to pass three levels in proper sequence.

The three levels are:

(a) Preliminary level.

(b) Inter level.

(c) Final level.

Admission Test

The admission to both the programs are through a basic test. The admission test aims at testing the aptitude of the candidates for professional studies in financial analysis. Hence the quantitative reasoning ability of the candidate is tested. The admission test is held four times in a year i.e. in the months of January, April, July and October at 24 centres in India.

Exemption

The MBAs, Post Graduate Diploma Holders in Management, CAs, CWAs, CSs, CAIIBs, First class graduates/post-graduates and senior executives with ten years of service in the public sector or the private sector can seek exemption from the admission test.

CFA Foundation Course : The institute has also designed a foundation course for degree college students who are interested in pursuing professional certification program such as CFA Program. The CFA Foundation Course covers topics on Financial Accounting, Micro-Economics, and Macro-Economics.
Eligibility : Degree and Engineering college students (any discipline).

How to enroll ?

The candidates who are successful in the admission test and those who are exempted from passing the admission test are enrolled for the Programme. A student is allowed a maximum period of three years to complete the preliminary level of the programme and a maximum period of seven years to complete the entire programme.

Coaching Classes

Its basically a distance learning course. The ICFAI provides high quality text books, solution manuals, assignments, select readings and model question papers to supplement self study by the students. As an added advantage, week-end workshops are conducted at New Delhi, Mumbai, Bangalore, Koklata, Hyderabad & Chennai to assist the students in better understanding of the basic concepts and problems.

Financial Analysis After Completion

On successful competion of the Programme the candidates are awarded the degree and designation of Chartered Financial Analysts which is recognized in India & several other countries like USA, Japan, France, etc..

When to Apply ?

The Institute advertises the Programme from time to time in leading national newspapers for the information of interested candidates. However, further details like fees, syllabi procedures etc, are available in the prospectus which may be obtained by sending a demand draft of Rs 150 in favour of the “ICFAI” from The Admissions Officer (CFA), The Institute of Chartered Financial Analysts of India, Road No. 3 Banjara Hills, Hyderabad – 500034 or log on to www.icfai.org

Other Programs offered by ICFAI

  1. CPA Program (The Certified Public Accountant Program).
  2. C-RIM Program (The Certified Risk & Insurance Manager Program).
  3. The CTM Program (The Certified Treasury Manager Program).
  4. The CIB Program (The Certified Investment Banker Program).
  5. The CPM Program (The Certified Portfolio Manager Program) (International CIIA Qualification from ACIIA, London).
  6. Global Strategic Management (GSM) Program (In collaboration with Transworld University, USA).

Financial Analysis Job Prospects

  1. After successful completion of the CFA program, the CFA’s can look for good openings in India & Abroad since ICFAI has be associated with many other International bodies & also recognized in many countries.
  2. CFA’s get good managerial openings such as Fund Managers, Investment Managers, Manager Hire Purchase, Manager Portfolio Management.
  3. Great opportunities exist in the form of Financial Analysts , Investment advisors, Financial Consultants with many companies including mutual funds & hire purchase.

Originally Written by Mr. Ameen-E-Mudassar for the Milli Gazette, Dated On 16 December 2005.