How Executive MBA in Business Analytics can upgrade the skill set of Chartered Accountants

Guest 
on 05 September 2019


In this era of the internet and computers, data analysis has become the most sought-after profession. Every field in the industry concerns the analysis of data in one form or the other. The financial sector is one of the critical industrial sectors that place great importance on data. Hence, an Executive MBA in Business Analytics is an excellent qualification to have. The Executive MBA is one such course that can upgrade the skill set of Chartered Accountants.

The times have changed

The days of simple accountancy are gone. The role of Chartered Accountants is no longer one-dimensional. The CA has to look at his profession from various angles. An audit no longer consists of inspection and certification of the books of accounts. Apart from this core competency, the auditor has to be adept at other areas of business such as marketing, economics, operations and supply chain, human resources, machine learning, and Big Data technologies. Hence, an additional qualification that can gear up the CAs in these areas could prove useful.

The right approach for the chartered accountants is to equip themselves with an Executive MBA in Business Analytics. There are many institutes that offer Executive MBA in Business Analytics , UpGrad in association with NMIMS also offers it. This qualification can help to develop the skill set of Chartered Accountants.

What skills will you develop?

As practising Chartered Accounts, you have the necessary exposure to finance and corporate accounting. This Executive MBA in Business Analytics aims to develop skills in subjects that you might not have had an opportunity to excel in. Apart from Finance and Economics, this course enhances your core management skills and the application of analytics in them. These subjects include the following.

Human Resources: HR is a critical subject. It is easy to manage computers, but not people. This course can help you with developing the necessary human-management skills that you can put to full use in your career. Getting work done by someone is more challenging than doing the work yourself. This Executive MBA enhances your skills in these areas, as well.

Marketing: No industry can function without marketing. Today, companies indulge in various kinds of marketing. Each category has its importance, investments, and expenses. Thorough knowledge of how marketing is done will help the Chartered Accounts to get a feel of the industry. This Executive MBA for Chartered Accountants can prove useful in this regard.

Operations and Supply Chain: Today, every business depends on the supply chain network for its functioning. Hence, it becomes imperative for Chartered Accountants to have an understanding of how this aspect of the industry works. This course helps them develop these skills, whereby they become familiar with supply chain management and the importance it has in developing the sector as a whole.

Machine Learning: Nowadays, you have intelligent bots all over the place in the industry. Machines have also become smarter, as they adapt to the circumstances and act accordingly. Chartered accounts need to know these aspects because it helps them to identify the peak season and non-peak season activity of the industry. Therefore, they can do better justice to their responsibilities.

Big Data Technology: One has to contend with data everywhere. The fields of Finance and Marketing indulge in enormous quantities of data. Analyzing data of such massive proportions requires the auditors to be aware of Big Data technologies.

Why Chartered Accountants should enroll for this course?

Independent Chartered Accountants are the ideal candidates for this course. It can help them to develop diverse areas of their profession to make them better auditors. The role of the auditor is not only to find mistakes. The vital responsibility of a Chartered Accountant is to ensure that the same error is not repeated. He/she has to educate the company personnel about the implications of the mistakes.

The Chartered Accountant also has the critical role of suggesting remedies to the errors found in the accounting procedures. Finding mistakes is easy, but educating people so that they do not commit it again is a challenge. The HR aspect of the course can come handy here. One has to deal with a variety of people in life. Not everyone is the same.

Chartered accountants can also acquire working knowledge in aspects that they might not have encountered in their career earlier. It can make them into better professionals capable of handling different situations in the course of their career.

Handling data will become imperative for every industry in the future. Every business is moving towards a completely online mode of functioning. Under such circumstances, collection, assimilation, and analysis of data become crucial. This MBA in Business Analytics can help the Chartered Accountants to become aware of different aspects of the industry.

Who else can enroll for this course?

This Executive MBA in Business Analytics is ideal for working professionals in all domains of the industry. These domains include Marketing and Sales, Finance, HR, Operations, IT, and Software. Any professional looking for an analytics-oriented career can pursue this course.

Where can you do this course?

The Executive MBA in Business Analytics course is available at almost all business schools. However, working professionals can find it a challenge to balance their official responsibilities with full-time coaching. Hence, an online course should be an ideal solution. When you look at online classes, you need not look beyond UpGrad, as it is associated with the best business schools in India such as NMIMS to offer this course.

Conclusion

Chartered accountants can improve their overall business acumen by completing this course. This course helps them polish other areas of business other than their strong areas, finance and economics. This course helps them to become better professionals who understand the functioning of the industry better. It can enable them to deliver better results. Thus, this course ends up developing the skill sets of Chartered Accountants better than any other course.


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