A student in Pakistan can start a career in accountancy by selecting accountancy courses in two ways.
- Career in Financial Accounting
- Career in Cost and Management Accounting
Financial Accounting is the field of accountancy related to the preparation of financial statements. Stockholders, employees, agencies of government, private and public banks, suppliers and the owners of a company or organization get help from the information provided by the managers for decision making. Financial accountancy is used to prepare accounting information for people outside the organization or not involved in the day to day running of the company.
Thus summarizing financial data taken from accounting records and producing it in the shape of reports for the benefit of people outside the organization is called Financial Accounting.
Accountancy Courses in Pakistan can be done from the most reputable institute of Pakistan i.e. Institutes of Chartered Accountants of Pakistan (ICAP). Besides ICAP' CA (chartered Accountancy) one can get the following certification.
- Chartered Certified Accountant (ACCA)
- CAT / CIMA
- Certified Public Accountant (CPA)
CA (Chartered Accountant)
H.Sc (60 % OR ABOVE MARKS)
Students below 60 % marks have to qualify PPT
ACCA (Association of Chartered Certified Accountants )
Graduation or A level
CAT (minimum 5 papers)
CAT / CIMA
SSC or O level
CMA (Through ICMAP's Internet Based Distance Learning Programme)
Graduate or Master ( any discipline ) form recognized University/institution
Cost & Management Accentuating
Cost & Management accentuating is related to the requirements and use of accounting information to the managers within a company or organization. Mangers use this information for making decision about their business. Management accounting helps managers to be better equipped in their management and control jobs.
The Institute of Cost & Management Accountants of Pakistan is the regulative body for the profession of Cost and Management Accounting. ICMAP is the only institute in Pakistan which provides cost and management accounting education, training and professional certification. The institute has fame and reputation about its high standard in imparting education and testing.
4000 members are associated with ICMAP. These members are holding senior positions in trade, commerce, industry and government in Pakistan and abroad. 15000 students have actively getting valuable education from ICMAP.
A student who wants to make a career in accounting in the field of cost and management, ICMA provides the following certification.
One-year Post Graduate Certificate in Accounting
Students are awarded a One-year Post Graduate Certificate in Accounting after passing all papers of Stage-1 and Stage 2.
Two-year Post Graduate Certificate in Cost and Management Accounting
Successfully passing all papers of third and fourth Stage and meeting requirements of six month work experience, the students are awarded a Two-year Post Graduate Certificate in Cost and Management Accounting.
Cost and Management Accounting Final Certificate
When a student gets through all the stages of ICMAP, he has to undergo a three hours examination. If he passes this comprehensive exam and then meets the requirement of one year work experience he is awarded a cost and Management Accounting Final Certificate. Students in Pakistan like to choose cost and management accounting besides career in chartered accountancy.