B. Com. International Finance and Accounting (IFA)

PROGRAM OBJECTIVES

Our specialised Commerce program aims to prepare our students for choosing International Finance and Accountancy as a global career. This program focuses on International Accounting and Finance and is designed to provide greater insights in pinpointing prospects and risks, thus enabling students to make informed business decisions in their professional role. The course is offered in collaboration with Association of Chartered Certified Accountants (ACCA), a UK based global organization. The second alternative is offered in collaboration with Institute of Certified Management Accountants (IMA) offered Certificate in Management Accounting (CMA) from USA. A student can choose only one of the two courses. Five semesters of class room learning and one semester of rigorous training in accounting builds a strong foundation of our B.Com (IFA) students towards a career in cost or management accounting of international standards. The program is designed and guided by competent professionals to groom our students in order to make a career at global platform.

INDUSTRY-BASED PROJECTS

During the three years of the Program, students take-up live projects related to finance & accounting; laws & policies concerning international commerce; business management; financial decision making; financial statement analysis; wealth management; marketing etc. Practical projects and surveys are a part of the learning with a view to give them a hold on theoretical aspects of different concepts of commerce and finance.

Students also participate in case study competition at international levels.

PROGRAM CONTENTS AND ACADEMIC FRAMEWORK

This is a three-year full-time program, spread over five semesters of teaching and one semester of training as Cost/Management Accounting Professional. The academic framework of the program includes classroom learning, followed by professional training by dedicated training agencies of ACCA (UK) and IMA/CMA (USA). The syllabus has the approval of both ACCA (UK) and IMA (USA). The aim of extra teaching is to prepare the students to clear their global examinations. The main emphasis of this course is to impart to the students specialized skill-sets in various areas of finance with a view to help them make careers in accounting. Students also complete basic B.Com Syllabus to qualify for the degree of Chitkara University.

B. Com. International Finance and Accounting (IFA) in collaboration with ACCA (UK)

• Central registration of students with ACCA (UK) during Semester 1.
• Certificate from ACCA (UK) on qualifying Nine Foundation and Four Professional subjects.
• Six out of nine Foundation courses integrated into B.Com Syllabus for the first year. These have been exempted for our students.
• Students undergo additional 30 hours of learning in each of eight courses under ACCA accredited curriculum delivery partner.
• Students appear for three Foundation Course exams during second year and Professional Examinations during third year.
• Integrated syllabus with B.Com, enabling award of a degree by the University.
• An option to enrol for B.Sc (Accounting) from Oxford Brooks (UK) during the course.
• Through this program, students complete the entire ACCA course alongside the Bachelor’s degree from Chitkara University. This joint program enables students to pick up qualifications such as the Advanced Diploma in Accounting and Business from ACCA, en route to becoming an ACCA finance professional.
• The ACCA qualification gives students global recognition from one of the world’s leading international accountancy bodies in cost accounting, while the B.Com degree sets students apart as a business leader.
• In the sixth semester students proceed on compulsory internship and clear balance of ACCA examinations.
• Students continue their internship after their B.Com and obtain ACCA affiliate status after two years working experience in any organization (unlike article-ship of CA)
• The course offers tremendous scope of employment with MNCs, and commonwealth countries.

Highlights of Program with ACCA (UK)

• Governance, Risk and Ethics
• Financial Reporting
• Business Analysis
• Advanced Financial Management
• Advanced Performance Management

B. Com. International Finance and Accounting (IFA) in collaboration with IMA (USA)

• • Central registration of students with IMA (USA) during Semester 1.
  • Certificate in Management Accounting from Institute of Certified Management Accountants (IMA-USA) on qualifying Part 1 and Part 2 of composite papers during second/third year.
  • Integrated syllabus with B.Com, enabling award of a degree by the University.
  • Through this program, students complete the entire CMA course alongside the Bachelor’s degree from Chitkara University.
  • The CMA qualification gives students global recognition from one of the world’s leading international accountancy bodies in management accounting, while the B.Com degree sets students apart as a business leader.
  • Candidates for the CMA designation are assumed to have knowledge of preparation of financial statements, business economics, time-value of money concepts, statistics and probability.

Highlights of Program with IMA (USA)

• • External Financial Reporting Decisions
  • Planning, Budgeting and Forecasting
  • Financial Statement Analysis
  • Decision Analysis
  • Risk Management
  • Professional Ethics