Firstly, I would like to thank all the members of CAclubindia who took out some time to read my first article on how to Map and Set our Minds. As committed in my first article, I would now like to share few important things from the perspective of the professional institutes which is more important especially to students' community.
'My Experience with Professional Institutes'
In my association with the profession institutes for many years, I feel that it is important that each and every student should know and understand the MISSION statement of our professional institutes. Let me share with you one thing which is true with all of us. Let us suppose, you decide to buy a bike or car, then the first thing you do is you will get the specifications of all the models in the market, then you start comparing each of the models on the basis of parameter like mileage, engine capacity, design, colour etc. and then you decide upon which is the perfect match to your preference and tastes. Now, tell me, how many of you after joining CA/CWA/CS have read and understood the MISSION statement of the professional institutes? I can say with confidence that more than 0.5% of the students who have taken up professional course have not read or understood the MISSION and VISSION statements of the institutes. It looks strange, when we can spend so much time and efforts in selecting a bike which we use it for a short period, then why not read and understand the MISSION and VISSION statement of the profession which last long in our life? Trust me, if each one of you understands the MISSION and VISSION statements of the institute then, your mind is firm and set towards their expectations. Ones your mind is set means your goals are easily achieved without much pain.
Understanding MISSION statements
'To continuously develop high caliber professionals ensuring good corporate governance and effective management and to carry out proactively research and development activities for the protection of the interest of all stakeholders, thus contributing to the public good.' - Institute of Company Secretary of India
'The Indian Chartered Accountancy Profession will be the Valued Trustees of World Class Financial Competencies, Good Governance, and Competitiveness.' - Institute of Chartered Accountants of India.
'ICWAI professionals would ethically drive enterprises globally by creating value to stakeholders in the socio-economic context through competencies drawn from the integration of strategy, management, and accounting." And VISION statement is ' ICWAI would be the preferred source of resources and professionals for the financial leadership of enterprises globally' - Institute of Cost and Works Accountants of India
After carefully reading and understanding the above MISSION statements of our institute one can draw up an inference that all the institutes are very much particular when it comes to the selection of students in order to be called as professionals.
Being associated with the institutes in accomplishing different tasks and after interacting with many professionals in the institutes, I thought of sharing with you some of the basic things which each one of you as students should understand in order to be successful. So, all of you should first understand the expectation of the professional institutes before you start up pursuing the course. The key factors about the institutes which every one of you should know are -
1. CA/CWA/CS Institutes are set up under an Act of Parliament - You need to understand here the importance of why these premier institutes are set up under a separate act of parliament. They have their own responsibilities and commitment to the society and county in imparting professional education in the field of accountancy, finance, taxation, costing, corporate laws etc.
2. Own set of Evaluation process - As a professional institute recognized under a separate law, they practice their own set of the evaluation process which most other institutes doesn't follow. By doing so, they have defined their own way of selecting the students who are fit to be called as professionals.
3. Have liberty to change and draft Syllabus as and when required- Professional institutes have full liberty to revise syllabus as and when the need arises. Subjects are more dynamic and it is mapped to the everyday changes in business and economy. As such, in order to create professionals, it is more important that we should know that what we study must be something which is relevant and which is prevailing. In simple institutes insist on NEED-BASED STUDY.
4. Selection of the best and most committed students as professionals - The fee structure, selection process, training etc shows that the institute aim is to select the best and most committed students as professionals. In terms of fee, these are the cheapest profession compared to others and the selection process is open to all, even a student from rural areas can appear for the exams (no need for online) and even those who are not comfortable with English also can write the exams (Hindi allowed).
5. Only qualified people on Board - Members on the various boards of the institutes are qualified professionals of the same institutes. Since, there is no outside member in the board other than the qualified professionals; they always stand towards uplifting the principles and ethos of the institutes.
6. Most Recognised professional courses in terms of practice and employment - These institutes are in existence for more than 25 years now and the qualification given is most recognized compared to other institutes. In today's education revolution lot of courses and institutes are coming up like mushrooms all over the country, but it has no where resulted in the fall in number of students who pursue professional courses of the institute. All this is because of the professional approach which is imparted in their approach.
7. CEP (Continuing Education Program), memberships, seminars, certificate courses etc. - It is only the professional institutes like CA/CWA/CS which develops a bond with qualified professionals even after completing the course. The job of a person doesn't end after passing out the exams, as a professional he should get himself well equipped with the day to day changes in the profession. So, it is only through these professional institutes that professional value additions are envisaged in the form of CEP, seminars, workshops, certificate courses etc. There is no limit for knowledge and as a profession you need to get updated with what ever new things comes in the way (please refer to the MISSION statement).
8. Global approach to Professionalism - Professionalism is viewed as a global phenomenon. It is the responsibility and duty of our professional institutes to create world class professionals (please refer MISSION statement). So, our institutes while imparting training, setting syllabus etc will give equal importance to understand global concepts. We would have seen in recent years our institutes are signing MOUs with many foreign institutes in terms of waiver of subjects, membership programs etc., is done in order to see that we as a professional forms same group across the globe.
My dear students hope you now got some idea as to what our Institute stands for and what they expect out of a student before creating them as a Professional. Now, you question yourselves and try to justify yourself as to after getting registered with the institutes have you ever thought of these things? Else, you selected these course due to some force from your family members or just because my friend registered and so me too, or just because these professionals are paid good salary etc.. Whatever might be your decision to join this course but, after joining please develop some discipline and understand the need and importance of the course in terms of professionalism? Don't ever think that the exams are cakewalk, as I told exams are only to evaluate your performance and are just a selection criterion and by passing exams, you don't become professionals.
Always remember your perception towards exams and institute should change and it is not the other way round. Institute already has a clear cut definition of its objectives and is always working towards it at time of conducting exams, admitting students, creating professionals, practicing the profession, fulfilling the corporate responsibilities etc etc.. It is only the mindset of you which should be factored upon. You need to first understand the importance and need as to why you have opted the professional course, then you need to ask question to yourselves at time of preparing and writing exams as to whether you are up to the level as desired by the institute, if not, then don't get frustrated take up the challenge and correct yourself and give a try. The ball is always in your court and you should play it correctly.
Don't worry, I am not blaming you people for these, I am just highlighting upon few things which you were not told earlier. You are asked to swim in water but, there are many of you who are seeing water for the first time, some of you have seen water and also have watched many swimming competition but not experienced getting in to water, also there are some of you who have actually got in to the water but doesn't know how to swim and there are the last category of people who think that swimming is something which is god gift and they cannot do and they do not try even thinking further. In the above four different cases except for the last case, everyone can learn the swimming, because they have interest and they have some positive attitude. So, try to relate the same example in your approach and through your hard work, dedication, and practice you can also become a good swimmer and who knows you can break all the world record currently held in name of Michel Pep.
My next article in this series will be on 'How to pass exams without tears' and I will give you some simple tips which you can practice in order to complete the exams successfully.
Do pass your valuable comments to this article as it is very important for me so that I too can learn some more things which I don't know and also share with your friends which they might require.
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