Working as a clerk in a bank and want to pursue CS or ICWA. Which is a better choice?

Working as a clerk in a bank and want to pursue CS or ICWA. Which is a better choice?

I'm working as a clerk in a public sector bank. I have completed B. Com and M. Com and now I want to acquire a professional degree like CS or ICWA , kindly suggest me what course should I take and which is better for my career growth?

Both the courses are for the candidates who want to remain in finance and business stream. Company Secretary acts as a bridge between Company and the Board of Directors. If you are interested in the field of Cost Accountancy and Management you can go into the field of Cost Accountant from the Institute of Cost and Work Accountants of India. It helps in enhancing cost management expertise.

What you get from CS course?

If you opt to be a Company Secretary, you will be the major employee of the company you will be working for. You will be the one to advice on the applicable laws and endeavors. This course is conducted by the professional body ICSI (Institute of Company Secretaries of India). You need to get through the foundation course, executive programme and professional programme. After clearing all three exams you get employed in government accounts, law departments, you can become a managing director or chairman of a company, also can be among the board of directors in any company.

What do you get from ICWA Course?

If you want to work as a Cost or Management Accountant you can go for ICWA course which is divided into three parts. The three parts are the foundation course, the intermediate course and the final course. If you are keen to work in a Corporate environment you can choose positions like Internal Auditor, Accountant, Financial Controller, Finance Manager and Cost Controller etc after completing the course or else you can go for entrepreneurship in areas like Mandatory Cost Audit, Consultancy assignments, Excise Audit etc.

What is the difference between both the courses?

It depends totally on your interest. If you are interested to work in an administrative environment handling legal matters you must go for CS whereas to ICWA gives you the chance to deal in Accounts, bookkeeping and audit of firms and corporates.

CS deals in the secretarial matters relating to a corporate whereas ICWA involves collection; assimilation and analysis of financial information from all areas of an organization.

CS's working involves an in depth aspects relating to company law and its application to companies. Sometimes Cost Accountants and Chartered Accountants study and work on Corporate law but they don't have the deep knowledge as a company secretary does.