CA vs MBA - Where is the Difference

Introduction - This is part of a discussion a fellow Chartered Accountant is having with regard to the changes our community (read CAs and CA students) wants from the new Central Council and Regional Council for the betterment of the CA course. I put forward here my views regarding the changes required in the syllabus.

Changes required - The first and foremost change that needs to be done, a thing which was necessary for the last two decades, is a proper change in the syllabus. That has never been done. Unfortunately. Not just a change for the heck of it. 

Abolish the MCQ pattern of exams - Not MCQ. Abolish the MCQ pattern of questions at every stage of the CA exams right from Foundation, IPCC to the Final exams and throw it into the dust bin. 

Case studies. Adopt the case study method of learning. Introduce the case study method of teaching. Something which qualified Chartered Accountants don't know. They ask yeh case study kya hota hai Sir? 

Make case studies a compulsory 20-mark question in all papers. In every exam. You want quality. All of us want quality among CAs who qualify. And we will get quality. 

Many of us in our community refer to the highly paid MBAs. I have been a full time MBA faculty at some very good b-schools for a decade at Mumbai and Delhi NCR till 2013. And I am telling this from my experience there in teaching and placements. 

In a recent MCS class of mine someone was asking. Sir, why do the MBAs earn more than us? A very important question for us. And time to sit down and find the answers. 

I still believe the CA final examination to be the most difficult exam I ever had.

Conclusion - This is just one change which has come to my mind. Since we at the Institute of Chartered Accountants of India will be having a new team of 32 elected and 8 nominated Central Council members very soon as well as all Regional Councils pan India with new elected members I think this is the best time to put on our thinking caps and suggest further meaningful changes. This discussion will continue.  

Note - This article was first published on LinkedIn on 26th October, 2021.