Untitled

[lakshyaca]

What to Choose After Graduation in Commerce

The developing world of education and employment is soaring through effective competition and advancements by making it universally accessible. Here arises the constant need to enhance your career with more knowledge, skills, qualifications, and certifications. Graduation is a foundation for your student life and career hence, there is a need to structure its layers and make it more robust to engage in challenging competitions. Commerce, as we all know is a wide and varied world with numerous opportunities, now let us discuss some of the most anticipated choices for a commerce graduate to build on their career.

Job-oriented courses for a commerce graduate

Fetching a job will be the supreme aim of every candidate after gaining the necessary qualifications to proceed with the career. So it is important to invest time in learning Job-oriented courses which will make the recruitment process easier with the additional benefits of a better salary package and position.

Supply Chain Management

The perfect choice for a B.COM graduate willing to get placed sooner is starting a career in Supply Chain Management. It is a one-year diploma course that offers numerous opportunities to aspirants, the course deals with the management of the flow of goods and services and includes all processes that transform raw materials into final products. The course aims to teach the management of the flow of goods and services and processes that transform raw materials into final products. Supply chain management has big potential in India and abroad hence initiating a career in the stream will guarantee a successful career.

Post Graduate Diploma in Risk Management

The closure has a duration of one year and covers every facet of risk management and capacitates students with abilities of Strategic Thinking, Fundamentals of Human Resource Management, and Organizational Behaviour. The course is designed to equip students with insights from various industrial sectors. The stream is developing with advancements in technology and opens numerous opportunities for candidates with essential skills and professionalism.

Digital Marketing

Digital Marketing is currently one of the highly recommended courses after b.com, as it is a trending and rewarding career in this decade of technological innovations. The scope of Digital Marketing courses is increasing day by day as many job opportunities are developing within the stream. The salary package offered for the job is favorable and comparatively higher thus the course has gained popularity among students.

Professional courses for a Commerce Graduate

Commerce is a well-defined stream to embark on a career at any stage. For a B.COM or BBA graduate, there are numerous options available to resume their academic career. Professional courses are often looked upon with great enthusiasm as qualifying will enhance our career, life, social status, and financial stability. Highly anticipated Professional courses for a commerce graduate are CA, ACCA, CMA INDIA, CMA USA, AND CS. Generally, there is a perception about these courses that it is an arduous task to clear the papers to get qualified for a professional degree. But with constant practice, strong determination, and continuous effort one can gain success, many Post graduation courses will endow you with better career options but professional courses like these provide us access to many advantages. Let us discuss some of them:

Paper Exemptions:

A B.COM graduate is entitled to paper exemptions while preparing for professional courses like CA, ACCA, CMA INDIA, CMA USA, and CS. Students can get the benefit of a direct entry to the Intermediate level in the CA course, Skills level for the ACCA course CMA Intermediate for the CMA INDIA course, and executive level for the CS course.

Salary Package:

While comparing with any other courses, the salary package offered for candidates qualified with these professional degrees is much higher. In the present scenario, the initial salary package a fresher receives is very low but the package provided to a commerce professional degree holder is unbelievably high. For candidates aspiring for a career with a better salary package, the way before is to choose a professional career in commerce, work hard, and get qualified.

Wider Opportunities

Following the current trend in the education and employment sectors most candidates aspire to plan global careers, ACCA is a qualification that offers career opportunities in more than 180 countries, and CMA USA is another course that opens us with career opportunities in more than 140 countries. A professional degree in commerce provides career opportunities nationally and internationally depending on our choice.

Postgraduate courses in commerce

There are multiple options for a student to choose from the commerce area after graduation but, because of the increasing demand for the subject, there is a tight competition among students to get admitted into top commerce colleges. Students need to be well prepared to crack the entrance tests conducted by educational institutions to get admitted into the best courses in the best institutions. Most preferred courses in commerce include subjects like accountancy, business statistics, auditing, economics, business studies, corporate finance, and taxation. Now let us discuss some of the courses that offer a secure career:

Master of Business Management

MBA is one of the most popular options for a commerce graduate aspiring for a career in business administration or willing to set on a business individually. Full-time MBA programs usually take place over two academic years and there are options to learn an MBA part-time. The academic program oriented toward management and marketing includes subjects like Organisational Behaviour, Marketing, Principles of Management, Supply Chain Management, Operations Management human resource management, etc. The student can choose the management area of his interest and get specialized in it.

Master of Commerce

M.COM or Master of Commerce is a two-year course ideal for candidates willing to embark on a career in the banking and finance sector, it is also a perfect choice for students aspiring for a career in teaching, lecturing, and research. The course delves deeper into the functioning of the economy, capital, revenue, trade, taxes, etc taught in B.COM. M.COM is a very versatile course and provides students with the ability to choose their careers in various fields.MCom in India can be pursued as a full-time, part-time, distance, or correspondence and online course. 

Master in Digital Entrepreneurship

Master in Digital Entrepreneurship course is a practical course for students who want to become masters in digital communication and start-ups. It is an innovative study program that will provide you with theoretical and methodical knowledge about digitalization from the perspective of law, economics, social sciences, and computer sciences.

Commerce is a good career option for anyone interested in business administration, finance, and marketing But commerce imparts freedom to the aspirants to divert their choice. Commerce is comprised of many different subjects that can be pursued based on your interests and goals. So, depending on your interest and the path you choose there are plenty of financially rewarding career options available for you. 

[lakshyaca]

How Difficult is it to Pass the ACCA Exam?

ACCA is an internationally recognized qualification and is one of the most sought-after courses as clearing the ACCA exams makes you a Certified professional, it will also help you gain ACCA membership. It opens up a wide array of opportunities as it is an accepted qualification across the globe (Across 180 countries) Many students have a false notion that ACCA exams have complicated syllabi, which are very vast thus making it difficult for students to clear the exam. This cannot be further from the truth. ACCA is comparatively much easier and more flexible when you compare it with other professional courses such as CA or CFA. The exam holds high value in a global environment due to its rigorous testing that showcases credibility. Students have to attempt 13 exams which are based on a well-curated curriculum that builds industry-relevant knowledge and skills and professional values. The ACCA exams will equip you to carry out strategic tasks at the highest level of management. 

ACCA course details and structure: ACCA exams can be completed in a very short duration successfully is you have a strategy in place. ACCA aspirants just need to focus on their syllabus and have a structured study plan with the recommended study materials and be a part of a good coaching institute that can guide them strategically. In order to be a qualified ACCA member they need to meet the following criteria. 

Attempt and clear 13 papers (ACCA allows up to 9 papers exemption for those who have to meet the exemption criteria)

Recorded experience of at least 36 months

Subjects in the ACCA syllabus

The ACCA exam is subdivided into 3 levels which include Applied Knowledge, Applied Skills, and strategic professional levels. 

The subjects for these 3 levels are 

For Applied Knowledge

Business Accounting

Management Accounting

Financial Accounting

For Applied Skills

Corporate and Business Laws

Performance Management

Taxation

Financial Reporting

 Audit and Assurance

Financial Management

For Strategic Professional

Compulsory

Strategic Business Leadership

Strategic Business Reporting

Optional

Advanced Financial Management

Advanced Performance Management

Advanced Taxation

Advanced Audit and Assurance

How can I clear ACCA on my first attempt?

As mentioned earlier ACCA has a very flexible exam format/structure which makes it much easier to clear ACCA on the first attempt compared to other professional commerce courses. The key element that one needs to focus on when preparing for ACCA is to have a well-structured plan and a concrete study routine. Enrolling in a well-established institute will help streamline this process. In this blog, we will discuss some pointers that are essential in you clearing your ACCA exam on the first attempt. • Have a proper study plan - The first step to getting started with the exam preparation is by going through the entire syllabus and developing a comprehensive study plan which will cover all the important topics. The first four exams can be attempted during the 4 windows throughout the year, the next four exams can be taken in March, June, September, and December. If you focus on one paper every quarter you can clear one subject at a time, this strategy is especially beneficial when it comes to higher-level papers as they have more to cover and are more difficult compared to the earlier papers. 

Do not skip topics - Do not skip topics thinking that the portion is difficult. Spent more time on weak areas, divide your time and effort in a manner so that you are able to answer questions across all aspects

Attempt mock exams - Mock exams are an effective and proven method to analyze your strong and weak points. It is vital that students take well-planned mock exams and similar simulations in the exam environment to better understand the exam. Once you have attempted 4-5 tests then you will feel confident on the day of the exam. The first 4 exams are computer-based, in an MCQ format. The subsequent papers have a combination of multiple-choice questions and subjective questions which require practice and technique. Attempting the exam in the prescribed time duration will also help you to be more familiar with the exam structure and format. You will also be able to understand difficulty levels and questioning tendencies by attempting the previous year's question papers. 

Use a mind map to go through the syllabus - ACCA as mentioned earlier is a hands-on, application-oriented qualification that necessitates more practice than memorization. In order to let all the information sink into your long-term memory than relying on short-term memory you need to give it some time. It's always a good idea to revise all the topics you have covered so that you have a better chance of clearing the papers. It is also recommended to make notes of acronyms and other important notes, and connect with your classmates and instructors to come up with ways to remember your topics. 

D-Day advice (What to keep in your mind right before your exams)

Do not cramp your mind or revise right before your exam day. It may affect your confidence if you are unable to answer some questions. Also do not compare your past mock test scores with your friends. 

Do not experiment with new food items before your exam. Stick to your normal food and routine. 

Always start with the question you are confident of, it would boost your confidence and will put forth a good impression in front of your invigilator. For MCQd there are no negative markings, so even if you make a guess you still have a 25 percent chance of getting the right answer. 

Do not waste your time on just one question. You can get back to the unanswered question when you have finished attempting the other questions, as time will become increasingly important for you.

When answering a question do not rush yourself. Give yourself the time to process the question and put in the work needed to recollect portions you have studied. 

Is it possible to study and clear ACCA if I am working?

You can explore our earlier article which dives deep into this topic. If you are someone who wants to pursue their education in ACCA along with their work, you can do so by enrolling in an online program. But we are aware that you will be willing to make social sacrifices and be able to manage time effectively. At Lakshya, we have flexible modes of delivery by which you can attend classes either in the physical class or attend our online classes led by industry experts who will teach you topics in depth. It will help you to comprehend the subjects and topics in a better manner without hampering your work schedule. We also offer recorded classes if you wish to explore and brush up on certain topics. 

FAQ’s     1. How difficult is it to pass ACCA on the first attempt?

ACCA considers an attempt successful if we receive at least 50% of the marks, which is pretty feasible to score. It's always a great idea to get proper training from an experienced and certified ACCA faculty member, this will exponentially increase your chances of clearing the paper. 

How can I clear all my ACCA papers on my first attempt?

Study on a day-to-day basis. Try and cover portions along with your lecture. Do not wait till the last minute. The revision course will ensure that you are completely prepared on the day of your exam. Ensure that you are very familiar with the exam structure, and regulations along with other things. Have a proper structure for your preparation and set achievable smart goals for each day. 

How can I clear the ACCA f8 if I attempt to do self-study?

The ACCA f8 as you are aware has a history of having one of the lowest pass rates. This paper will put your technical knowledge and audit principles to the test. It will also test your comprehension ability of the assurance engagement process and its application to a professional regulatory framework. You should try and work on at least 5 MCQ questions a day, which will enable you to complete 300 MCQ questions. This will help with retention and overall understanding of the concepts. 

What are the tips to clear the SBR paper on your first attempt?

In order to clear the SBR papers you should not only have the technical know-how you should also be able to apply and explain that knowledge during the exam. Be strategic, do not just write down whatever you know, choose the most relevant point and state that for the question. Answer in points instead of writing in long paragraphs, it will not help you to get marks.

Conclusion

With flexible modes of learning clearing your ACCA should not be a challenge. Explore the best method that will suit you. At Lakshya we have more than a decade of experience in teaching, we have specially curated teaching materials and a dedicated platform that will help you to have the best learning experience. We also provide regular exams, discussions, and more to ensure that you are well accustomed to the subject. If you have any further questions about the course or wish to attempt a demo class to know more please feel free to connect with our career experts. 

[lakshyaca]

Learn About The Benefits Of Choosing A Career In Commerce

Commerce is the focal point across the globe today. The subject shares knowledge in the fields of trade and business, banking and insurance, business and management, and economy, and development, thus fostering entrepreneurship qualities. The commerce sector and its development are considered a boon to society, countries, and even to the world, which establishes numerous opportunities in diverse areas of commerce. Let us discuss some of the factors that make commerce one of the highly anticipated streams of study.

Commerce, the job-oriented course

A job-oriented course has a self-defined career path to equip the aspirants with a secure and established future. Commerce has a significant role in the present education system and provides a rewarding career with diverse opportunities to choose from. Commerce is the perfect option for a candidate aspiring for a job with a favorable salary package at the earliest. Professional Courses in Commerce likeCA,ACCA, CS, CMA INDIA, and CMA USA can be pursued after 12th grade. By working with a passion for the subject and strong determination, one can gain the qualifications in a shorter period and get placed in big multinational companies and reputed organizations. A candidate skeptical about clearing the competitive exams of the professional courses can choose graduation, a Bachelor of Commerce (B.COM) that assures you placement in companies and also opens your door to a professional course in Commerce with paper exemptions. The Commerce course offers a widened platform to learn and understand business, trade and management. It equips you with basic principles of the economy and capacitates you with chapters of entrepreneurship to nurture your dream of initiating a business. Thus, Commerce is a dynamic field with diverse opportunities that develop, refine and actualize an ambitious aspirant’s successful career.

Financial Literacy

Financial literacy is an essential life skill required to build a secure financial future. Having a  relevant understanding of financial management can help you balance your life and reduce your stress level. Students are generally less concerned about financial management and have lower levels of financial literacy, but commerce students are reported to have higher levels of financial literacy. Learning commerce provides students with an understanding of  basic ideas of  financial management and enables their involvement in the financial system. Once completing the course, the student will be able to balance spending, savings and budget, understand the importance of profit in a business and learn about the banking and insurance sector.

A desirable life: socially, personally and  professionally

Learning commerce capacitates students with a range of skills that begins from basic to professional skills. Communication is a key skill required to lead a desirable social life and a commerce student carries essential abilities to converse and communicate in a better way. The connection of the commerce stream with the business environment and the applicability of commerce students in it has contributed to developing a strong bond with the society, education and employment sector. Adaptability to different scenarios is not a difficult task for commerce students as they are schooled in a dynamic environment and polished with certainties and uncertainties to equip them with the confidence to own, manage and coordinate a business or an organization.

Commerce education endows individuals with practical knowledge and skills to develop an element of power to make strong decisions that determine the existence of any business or profession. The course offers varied opportunities for the students to choose a secure career with high exposure at the earliest thus enabling personal development mentally, financially and socially. There are many coaching centers for professional courses  in commerce streams like CA,ACCA, CS, CMA INDIA, and CMA USA  which leads  commerce aspirants with a reputed career and professional life.

The wider world of commerce

A Commerce student has a plethora of opportunities to excel in their career in a wide range of employment sectors. They can choose a career by analyzing their interest in specific subjects as each option is different from one another and provides different job titles for qualified candidates. The student who chooses to learn commerce after the 12th grade can start early preparations to pursue professional courses in commerce which will grant them great exposure and access to a secure career. After 12th, they have a wide range of opportunities to traverse along a complementing educational path and CA, ACCA, CS, CMA INDIA, CMA USA, B.com, and BBA are the most sought-after courses. Commerce endows students with abilities and skills to lead a successful career. A Commerce student is trained to handle all kinds of economic and financial development to contribute remarkably to their respective career.

Future of commerce and e-commerce

Commerce is a dynamic and developing world with ample opportunities in the private and government sectors. In the new era of global education, the commerce stream has a great role. India hopefully will experience a shift in the current trends of education with an enormous number of aspirants in the commerce sector. Researchers suggest that the number of commerce students in India will rise to 100 million in the next few years and, as a result of that, there will be a wide opening of opportunities in the commerce sector.

E-commerce will turn out to be people’s first choice and also the backup of the people. The pattern of growth the industry shares is incredible. The emergence of e-commerce has resulted in a total transformation of the education sector, initiating the rise of digital learning, virtual universities and an increasing rate of global competition in the world of education. The industry has manifested an evolution in the business world and, based on scientific studies and learning, it is predicted that by 2025 the e-commerce industry will become customer-centric. With the major developments and advancements in the industry, it will open doors to numerous opportunities for commerce aspirants to develop a secure future ahead.

[lakshyaca]

ACCA v/s CS, Which is a better choice?

Professional certification courses in Commerce are considered the most desirable choice for a successful career and life with innumerable opportunities, developments and possibilities. Commerce is a highly anticipated field for aspirers all over the world. Association of Chartered Certified Accountants of India (ACCA) and Company Secretary(CS) are two main courses students look forward to while pursuing a career in commerce. At times you might be confused in choosing between highly admired courses likeACCAand CS, here are some insights shared to clarify your queries and equip you with common differentiations between both and guide you through the right way to balance your interests with your skills and choose the perfect course to build on a  career.

What is ACCA?

Students generally have confusion in choosing a career especially when there are diverse options to consider in the stream they belong to. But while choosing, make the perfect choice that frames a perfect picture of your future, ACCA is one such choice. The Association of Chartered Certified Accountants is considered the largest and most esteemed professional certification in accounting with global recognition in more than 180 countries. For students aspiring to build their career inside and outside India ACCA is a perfect choice as the accounting concepts are taught from a global perspective enabling a progressive accounting career internationally. The course offers high prospects in our professional as well as personal life entitling access to a secure future at the earliest. Esteemed ACCA coaching centers capacitate students with meticulous knowledge and comprehensive skills to perform exceptionally well in their careers.

What is CS?

For a student with an interest in managing the legal facet of a company, the best choice is the CS course. The Company Secretary course is a certificate program that builds professionals to facilitate efficient administration and legal aspects of a company. The prestigious course with a duration of three years is offered by the Institute of Company Secretaries of  India. Company Secretaries are the main link that connects the company with the board of directors, stakeholders, government authorities and all others involved. The course will nurture your skill and equip you with immense knowledge in handling the legal aspects of a company. Develop a successful career in the Company Secretary course under the guidance of renowned CS coaching institutions to live a well-settled life.

Identify your interest and nurture your skills.

Commerce is a stream that offers a highly rewarding career, whatever you choose it should emerge from your enthusiasm and interest. For students who possess an affinity for numbers and accounts the ideal choice to embark on a professional journey is ACCA. In contrast, a student with a keen interest in legislation and managing administration can initiate a career as a CS professional. Identification of your skills is an essential step before deciding on the course. If you are proficient in technical and quantitative skills, your goal should be ACCA. On the contrary, if you have exceptional theoretical skills, you are destined to excel as a Company Secretary.  ACCA is a UK-based course which opens the path to global recognition for a student equipping them with technical skills and knowledge about accounts.CS is a better choice for a student willing to develop a career in India since there are restrictions with boundaries of Indian law, system, policies and rules to start a professional career.

Passing Rates

Candidates’ knowledge of various topics and their ability to handle different scenarios are critically analysed and evaluated in every exam, hence all exams pose a difficulty level which can be cracked with hard work and dedication. ACCA exams are approachable to the comfort of the examinees as exams are held every quarter, allowing students to choose the paper and prepare for it exquisitely. CS exams are conducted only twice every year and the students don’t have the privilege to attempt the whole papers as a module. While comparing the passing rates of both courses the CS students show comparatively lower passing rates than ACCA aspirers. CS is classified as one of the toughest exams and ACCA is recognised as the moderately difficult exam.

Conclusion

ACCA and CS are two different courses that belong to the stream of commerce, but they carry differentiations at various levels. While choosing between both, invariably make a definite decision, analyzing the elements, comparing the factors, and foreseeing the career goals to attain a gratifying personal and professional life. 

[lakshyaca]

What is the Need for Practical Experience in ACCA?

ACCA is one of the most sought after globally recognized certifications. Once you have started taking the examinations and are doing well they next curve ball that will come your way is to meet the Practical Experience Requirement or PER. 

The PER is a vital component of the ACCA qualification. In order to be an ACCA member all trainees, both students and affiliates must successfully complete:

The ACCA exams

Ethic and Professional skills module

Practical experience requirement

Why is practical experience needed?

ACCA’s PER will help individuals develop their professional knowledge and values, help hone their ethics and behaviours that are essential to be a professional qualified accountant. The PER has 3 main components to it which are

achieve five (5) Essentials and any four (4) Technical performance objectives by gaining the experience required to achieve the necessary elements and complete a statement for each performance objective, which are signed off by your practical experience supervisor*

complete 36 months’ experience in one or more accounting or finance-related role 

regularly record your PER progress in your online My Experience record, which can be accessed via myACCA.

PER helps you to be an efficient and qualified ACCA working professional. It is not enough just to learn theoretical knowledge, students also need to develop their skills in the workplace along with passing the exams. This is exactly where PER comes into play. The PER will help to apply and practice the knowledge and techniques you have gained through your studies towards the ACCA exams. It will help you to observe and be involved in real-life situations which will help to develop professional skills, behaviours and attitudes. Having PER will also enable you to develop your judgement, encourage you to reflect on the quality of work and help you improve your performance in the future as well. Employees expect ACCA members to showcase their knowledge, skill set and ability to work in a professional setting while having ethical conduct behaviour. PER will help you to confirm the quality of your workplace performance. 

What are the various ways by which I can get practical experience in ACCA?

You can try various methods other than the normal employment route to gain practical experience. In this article we will discuss about some of the methods you can employ to gain practical experience.

Job Rotation

A job rotation involves temporarily changing roles with a colleague. When you try job rotation you will get to perform new tasks on your own which will enable you to get valuable insights and gain new skills. Those individuals who have taken job rotations generally develop fresh ideas and feel enthusiastic when they go back to their original roles. 

Secondment

A secondment is when you get a transfer to another post or a department but for a fixed period of time. This is a great opportunity for you to get more responsibility and really challenge yourself, this will increase your job satisfaction. When you are on the lookout to find a suitable secondment, you should keep a lookout for opportunities to get extended cover, for eg: for those staff who are on a sabbatical, maternity break or those who have long-term sick leaves. Your workplace mentor or others who can authorise such moves may not have thought of a secondment option for you, so make sure you take the step forward to ask about secondment so that it will benefit everyone who is involved. 

On-the-job training

On-the-job training involves being monitored or supervised while tasks are being performed, this allows you to build your skills and confidence. When planning for an on-the-job training, keep a look out for activities that you would be responsible for, and for which your training would be supported and even welcomed by your colleagues. A training of this kind will demonstrate the skills you have learned to your workplace mention and to your colleagues who can ultimately influence your career trajectory. 

Workshops

Workshops essentially involve you tracking part in a group session where you would be discussing on work-related topics that are approved beforehand. If you have good knowledge about a topic you can even suggest running specific workshops based on your area of expertise, these types of workshops should turn out to be very beneficial for junior employees. It is also a great way to encourage your colleagues to share or voice their opinions outside of an office environment. 

Project Work

Project work involves participation in team or inter-departmental projects. It is a great idea to volunteer for project work as it may give you opportunities that otherwise may not have considered when originally planning on meeting your performance objective. Tasks including negotiating, writing reports hosting meets, planning ahead, coordinating other activities etc will help you to build your personal effectiveness skills which are a must have when practical experience requirements have to be met. 

Shadowing

Shadowing consists of observing the work practices of a more experienced colleague, which is usually for a task where you cannot be given complete authority or responsibility. You will get to learn a lot by watching and listening to your fellow employees - this is provided that you have the time to explain their actions while they are doing their work. The main advantage of shadowing is that it will keep the disruption to your colleagues at a minimum. This form of working will also give you a great opportunity to ask questions, most people respond well to the opportunity where they can demonstrate their own specific skill sets. 

Now let us look at some questions that most students have with respect to their PER’s

1. What will my status be considered as if I have cleared all my papers but I still haven’t completed my PER?

In order to be an ACCA member and be qualified as a professional accountant, it is essential to clear all the exams, complete the ethics and professionals skills module and complete your PER. You are not permitted to apply for membership unless you have completed all 3 components. 

2. What are the steps I need to take in order to complete the practical experience requirement?

As mentioned earlier the PER consists of 3 components. All aspects of which are equally important. The first is to complete 36 months of employment ina an accounting or finance related role, the second is to obtain five essentials or at least four technical performance objectives to the satisfaction of your practical experience supervisor.  And the third step is consistently recording and reporting your PER progress through the online MY Experience record. 

3. When do I complete my practical experience requirement?

We highly recommend that you update your online My Experience record regularly. One of the challenges that trainees encounter when they apply for membership is that they find our that they are missing vital information such as the details of the employer, or they have failed to get sign off for time and performance objectives with a previous employer. 

4. Is it possible for me to use the work experience I have gained before obtaining my ACCA qualification?

Yes. It is very much possible for you to use your experience from previous job roles (before of after registering as an ACCA students) so as to help you clain a performance objective. There is no specific time limit for this. The only requirement that is there that a qualified person who has supervised your work should be able to review and sign-off performance objectives and claim your time based on the experience you have attained. Also, as the profession continued to develop you can also consider if the experience you have attained if more that five years is still relevant. 

5. How do I know if my experience is relevant?

ACCA trained are trained to find employment in every sector and in organizations both big and small. When you are keeping an eye out for opportunities make sure that they will help you to meet your PER and will help you to achieve 36 months of experience in a relevant role or roles. You should ideally be looking to find a job where you will be spending most of your time on activities or tasks which are related to accounting, finance, audit and assurance or other roles related to technical areas such as taxation, insolvency and forensic accounting. 

Your work will be counted towards 36 months of experience only if your job includes some accounting or finance related work or if you have spent time on such relevant activities. Let us consider an example if you have spent 50% of your working time during your year on accounting or finance relates tasks then you can only claim six months out  of the possible 12 months as relevant time. This is because when you record your role in My Experience you are required to input the percentage of time you have to spend on accounting or finance-related activities, the relevant time you will them claim will be calculated automatically. 

You could also consider using your experience from previous roles, voluntary work, work placements and internships towards your PER which could include the experience you have received before you registered for your ACCA. In such cases where you have relevant previous work experience the person who has supervised your work at that time should be able to review and sign-off your experience. 

If you have more questions on PER or wish to pursue your education with ACCA please contact our career experts who will guide you on the same. 

[lakshyaca]

Points to consider while choosing a career in commerce

Decisions are a way of defining ourselves, when you make a decision that influences your career it is crucial to think, analyze and be well-informed about the stream you choose to be your companion in your professional life. Commerce is a wide world accommodating dominant streams that contribute to the development of an economy like business, finance, accounting, trade, and law. For students looking forward to a meaningful, professional, and rewarding academic career commerce is a perfect choice. Most people lack an understanding of the innumerable opportunities and possibilities existing and progressing in commerce, hence even if they have a keen interest in the subject they choose other streams as their profession. Now let us look into some relevant factors that one has to consider while choosing commerce as their profession.

A thoughtful outlook on the world

Learning that fosters intellectual growth is very essential in the stage of transforming a student into a citizen, commerce as a subject occupies students with practical knowledge about the world and cultivates an awareness about the sectors of the economy, activities included in it, and apprehend ideas about the financial status and stability of our economy. Commerce endows students with a thoughtful outlook on the world and equips them to apply these understandings in their career and personal life thus framing up a generation as a resource to our society.

Booming World of commerce

The thriving industry of commerce is a promise to commerce aspirants over the world as the expansions in the industry assure them of diverse career opportunities to embark on their journey to a fortunate future. The variousness of the field is the ultimate factor that attracts students to this profession, and the stream is a foundation for many streams of education like Accounting, Banking, Insurance, Management, and Economics. Professional courses in commerce like ACCA, CA, CS, and CMA capacitates students with the possibility of getting early placements with better remuneration. 

Global recognition for commerce aspirants

Career development beyond boundaries is everyone's dream, while choosing commerce as your sphere of life you must have an understanding of the international recognition and standards of living your choice of profession assures. Being a varied and wide world, the stream of commerce opens the door to innumerable global opportunities that strengthen your career growth. A student qualified with ACCA has access to get placed in more than 180 countries, CMA USA is a course that paves the way to pursue your career in more than 140 countries. There are numerous coaching Institutes for ACCA and CMA USA as these courses are anticipated with great hope by many aspirants. Other professional degrees like MBA, CA, and CS will make your career globally feasible.

Progressive career growth

Commerce is a profession that assures career growth and advancement through promotions and appraisals. Most commerce graduates get placed in managerial and financial sectors of an organization from where efficient employers will get continuous upgradation in their position along with abundant chances of innovative learning. A profession in commerce enhances our earning potential, reduces the risk of unemployment, and bestows a favorable balance between work and personal life.

Commerce Graduates and competitive exams

For a civil service aspirant graduation in commerce is an added advantage as a broad understanding of the financial aspects, contemporary scenarios, economy, and development of the country contributes to their preparations for the UPSC exam. Students aspiring for competitive exams can make commerce the prime choice and encourage their groundwork for better results.

Every choice has relevance in our life, and while choosing a career path to follow, our endeavor requires more observation, attention, and consideration. A student always has the advantage to choose their professional life, once selected, it is the path for us to travel, earn and build a successful life. Gather pieces of information from all sources around you and take a comprehensive decision for your life.

[lakshyaca]

Employment trends in the Field of Accounting

What are the current trends in employment in the field of Accounting? Employers are constantly looking for accountants with the skills and talent to stay up with the ever-evolving accounting landscape. Accounting is no longer limited to just creating financial statements or tax returns as more transactional activities are getting automated these days. Accountants who wish to succeed and do well in the field of accounting need to have a firm grasp of technology, comprehend data analytics, and have a good hand at interacting with clients. There are many factors that come into play with the labor market, regional economy, and global economy that directly impact employment trends across the globe. Broader accounting employment patterns are determined by a wide range of variables that impacts the local, national and international economy and labor market. Going in deep and learning more about the sector, the shifts in finance and accounting industries have an impact on the employment trends for accountants, particularly for courses like ACCA (Association of Chartered Certified Accountants), CMA (Cost Management Accountant), Chartered Accountant and more. Changes in the finance and accounting industries will definitely impact the ACCA employment patterns. A Sage report states that about 90% of accountants believe that accountancy is experiencing a cultural shift that is more skewed toward technology. This cultural shift is driven by many factors, including generational change and client demands. In this article, we will touch upon 11 accounting trends that you need to keep a close eye on and perhaps adopt and implement for your firm. Let’s dive into it a bit deeper

Remote jobs/workforce - The older way of conducting business has gone for a toss since the pandemic. Employees are no longer expected or bound to a physical workspace, and businesses should take good advantage of this trend. The accounting industry is no different and is on that can easily adapt to this change in comparison to other fields. More and more accountants are working remotely due to the pandemic and software such as the cloud is contributing largely to this paradigm shift. Cloud-based software allows employees to complete their assigned tasks without being in the same building. This trend will likely continue as well. There are many perks to working remotely, this includes flexibility and a decrease in overhead costs. 

To ensure that remote work is happening successfully, it is crucial to get the right technology solutions such as virtual communication tools, cloud-based accounting software and secure online data storage and sharing. 

If an accounting firm wishes to remain competitive it should consider implementing a remote work policy. It is very clear that there is more than one way to manage employees, but one thing that goes without saying is that you need to provide a flexible, customizable work environment in order to retain talent. With the support of the right technology and tools, this is very feasible. 

Data Security - In order for remote work to be feasible it is crucial to share data. As large amounts of data are shared electronically between accounting firms and their clients, hackers are also refining the way they hack. Accounting firms have to protect themselves from cyber attacks and other security issues, so it is vital to provide adequate cybersecurity training to the employees. 

They can provide 2 factor authentication so that only authorized users will have access to sensitive data. With the level of confidential data that is shared in accounting firms, even a small breach could lead to the loss of millions if not more. Having a good data security plan in place will decrease the risk of exposure by protecting the organization's most valuable asset - which is your customer's financial information.

Accountants with diverse skills -  To keep up with the ever evolving accounting terrain, firms as on the lookout for commerce professionals who have a wide and diverse skill set. Accounting is no longer confined to areas such as preparing financial statements and filing tax returns because such transactional work is becoming more and more automated. In order to be successful, accountants should be tech savvy and should utilize existing technology, be able to comprehend data analytics and convert facts and figures successfully with clients. They also have to be well-verses in all aspects of business concepts so that they can provide valuable insights to their clients. 

As the world is becoming more and more complex, businesses will need more specialized services from their accountants, this means that you as an accountant have to constantly update your skills to make sure you are ahead of the curve. 

Cloud-based accounting software - As mentioned earlier, in order to function effectively in an remote setting businesses need to move to the cloud and accounting firms are no different. Cloud-based accounting systems will help you to access data from any device anywhere as long as you have an internet connection. This is perfect for firms that work in different locations and have employees who work remotely. 

Cloud-based solutions make it easier for employees to easily share files and collaborate with others in a remote setting. It will help accountants on the team to have instant access to their accounting data without wasting any time. This will help businesses from substantial upfront costs in comparison to traditional in-house accounting software and services and it will also help increase security as well. 

Cloud-based software also creates workflows, saving businesses valuable time duplicating work and recreating repeatable tasks. Overall, this accounting trend saves time, and costs and increases accessibility and security.

Big Data -As data is getting increasingly more complex, accountants are expected to effectively manage and analyse data effectively. There will be a boom in demand for those who can analyze and manage analyse data.

Firms will be on the look out for individuals who have strong data and analytical skills and have experience in analyzing data to help firms to understand and break down information effectively. This is where big data will come into play. Big data is essentially the term used to describe large volumes of data that organizations collect from various sources. Accounting firms should store the data, mine for insights and turn this into actionable knowledge so as to remain competitive. It helps to recognise trends and correlations that we could miss otherwise. Such data will also enable firms to get insights and suggest recommendations to clients. They can analyse risks, predict the future or a client's finances and make the right judgement call. 

Automated Process and Artificial Intelligence -

Gone are the days when accountants or accounting firms are expected to input data manually into a spreadsheet. If a firm wishes to stay competitive that they need to automate this process as quickly as possible. This will save both time and money.

Accounting to the study conducted by sage in 2019, 58 % of accounting professionals will be automating tasks with the help of intelligence solutions in the coming years.

Software such as robotic process automation (RPA) that uses artificial intelligence (AI) will help to finish repetitive tasks quickly and with more accuracy. It will also help to analyze and study documents and will help prepare reports. This is a great way to cut back on the firm's time and money, and free up employees' time so that they can divert their attention to activities that bring bigger impact and value.

As AI is continuously evolving, the role of accountants will change along with it as well. Many industries have already started using this to automate manual tasks. Accounting firms should also start using such software to ease the complex functions handled by human beings. 

Taxation -

Taxation is going to be an active area of significance with respect to job opportunities expanding. The last 3 to four years have seen a lot of changes as the government is trying to measure to reduce the incidence of tax evasion and tax avoidance, so we see a change in the way people view taxes. The nation's laws and compliance standards have also undergone drastic shifts. Asset declaration regulations have also been amended and such things affect taxation as well. Due to such reasons accountants are in high demand and their salaries have also grown exponentially cause of this. Conclusion

To sum up, a career in accounting is definitely a wise choice, as per the positive job outlook in the field. With a good accounting course degree, you will be well-qualified for management and senior-level positions and will be in great demand when you enter the job market. Many students get hired by accounting and finance firms even before they finish due to the high demand for accounting degrees like the ACCA, CMA, and CA. Learn to advance your accounting profession by considering the abovementioned points, and you are ready to launch your career.

[lakshyaca]

Lakshya is a coaching centre for professional courses like ACCA,CA, CMA USA, CMA India, CS,

[lakshyaca]

Are you aspiring to become a commerce professional? Study from the best Coaching institute in Kerala and Dubai for professional commerce courses like CA-ACCA-CMA USA-CMA India -CS Scholarships are available to students who join before December 31,2022 🔍https://lakshyaca.com/

[lakshyaca]

How Studying Online can help you to complete ACCA?

ACCA is a well established globally certification that gives you in-depth financial knowledge and business skills. An ACCA qualification will give you the right credentials, it gives a boost to your earning potential, and open avenues to new job opportunities.

For those trying to juggle studying ACCA while they are working can be a very daunting task. ACCA requires all its aspirants to invest both time and effort. So when you have work balancing work with family commitments and handling classes can be very challenging. This is the perfect opportunity for you to then try and take ACCA classes in an online format instead of offline lessons. In today’s day and age, there are lots of opportunities for you to explore classes online. E-learning, online and recorded class have been on the rise since the pandemic, this mode of learning is getting more and more popular as its cost efficient, convenient and easy to consume when compared to traditional formats.

Let’s have a look at how studying online can be beneficial for you. 

Flexibility/ study at your own pace: One of the many advantages of online classes is of course the fact that it offers full control and flexibility to the learners. It is especially a great way of learning for working professionals. You can earn and build skills as you work as you also gain an ACCA qualification on the side and don’t have to give up on either of the skills. As people nowadays have the benefit of technology it comes as no surprise as to why people choose online classes to pursue their education alongside work. An unsaid advantage of online classes is that you can learn at a pace that suits your understanding and schedule. It helps you to decide the challenging topics you want to spend more time and energy on, so you can allocate more time on topics that are difficult and quickly skim through easy ones. Studying at an institute Lakshya will give you the opportunity to reach out to the faculty as many times as you want until you clear your doubts. This self-paced method will help you to thoroughly understand the topics and clear all doubts and misconceptions before you move on to the next course.

Easy on the pocket/ cost effective: Do I have enough resources to take up a course like this need not be a large concern as another advantage of online classes is that it is very cost efficient. Online classes are much more economical as compared to traditional classroom learning. Students can now learn from the best faculty, and learn at their pace and convenience without having to pay a lot. So now instead of studying at a coaching centre that is just cheap, you can actually study with a well established institute of your choice that offers online classes. Make sure you select an institute where the classes are taken by experienced faculty. Never join an institution on the basis of cost, it may save you some money now but it may not give you the best in your education. Apart from this, if you stay far away from your coaching centre you can also save money on transportation and even accommodation, getting study materials etc.

Study at your comfort and ease: Having the right environment to study is very crucial when you are preparing for an intensive exam such as ACCA. With online classes you get the advantage of studying in your comfort zone, you also don’t have to feel awkward or uncomfortable when asking doubts in the class. If you have on-demand or recorded classes along with your online classes then you have the option of revisiting classes and clarifying concepts that is difficult for you. You also get the freedom of scheduling your classes around other commitments, both personal and professional. You also can be at home and don't have to adapt to a new environment or share your rooms and resources with others. You can focus all your energy on just studying. It is a well known fact that ACCA is very voluminous, so you will have to spend a lot of time understanding all the concepts and subjects. Studying at home will give you all the extra time you need as you wouldn't be spending it on travel.

Access classes anytime, anywhere - Unlike offline classes where you have to attend classes at a fixed schedule, online classes specifically on-demand or recorded classes will give you access to the lecture anytime, anywhere. This gives you immense flexibility especially if you are someone who may need to travel a lot for work, or have to skip classes due to work-related or personal reasons. You will be able to access the classes from any device as long as you have connectivity and get to learn even when you are on the move. It is also a great way to revise. So if you want to brush up on some topics or go through some difficult topics when you have some time you can do so without having to consider time or location as a factor. 

Higher pass rates - As you already may be aware ACCA is a very rigorous course that requires you to do a lot of preparation. Attending classes will increase your chances of clearing examinations. Self study may work for some people but it is a fact that there is a lot of room for error, and that you may need a lot of time to find an effective study method that works for you. With online classes, you will get proper guidance from subject matter experts. They can also guide you on effective methods for preparation. Being a part of a structured online class, where you are approaching concepts in a well defined and structured manner will make you better equipped for the exams. Such classes will have regular examinations and tests which will give you a first hand experience of what to expect when you attend the final exams.

Tutor support around the clock - When picking online classes make sure that you are tied up with an established and reputed organization where you can have access to your tutors. A well established institute will also ensure that the faculty have real life experience and are experts in their own domain. Having a dedicated faculty pool ensures that you will be able to reach out to them with any doubt or clarification you may require. At Lakshya, we have structured our module systems carefully taking into account the exam structure and pattern, this maximizes a student's chance of clearing the exams. We also support students by giving them access to the right resources and having regular Q and A sessions with the tutors so that you can discuss and understand the topics where you need to put more effort and focus on.

High standards of learning - When you are in a classroom, students could be subjected to situations which may not be conducive to their learning. You may find it difficult as you may have to be in the same class with multiple students, you may not be able to listen to the lecturers well and you may lose out on important concepts due to the same. The major advantage of online classes is that you can stay focused and attend classes without any distractions all from the comfort of your home. At Lakshya, our online sessions are arranged to be led by industry experts who have years of experience in moulding students as they prepare for exams such as the ACCA. They are very well aware of the areas and concepts that need to be focused on, the classes are also structured in a manner where you find the content engaging and relevant. It is also customized in a manner where it will help you to obtain the scores you need. 

Why choose Lakshya for your online ACCA Journey?

With more than a decade of teaching experience, Lakshya is one of the most reputed and pursued after learning destinations for professional commerce courses. 

We are a Gold affiliate partner with ACCA, thereby providing you with the best in education as per the structure laid out by ACCA. 

Experienced and certified learning instructors conduct all the classes here are Lakshya, so you can rest assured that you are learning from an expert. 

We provide on-demand classes as well so that students can learn the subjects at their convenience anytime, anywhere.

Well structured module system and technical content and support structure to excel. 

Regular tests and exams will boost your chances your clearing the exams.

Placement support - our network of ACCA professionals increases your chances of getting placed at a reputed organisation once you have been an ACCA member. 

Students get access to the highest resolution videos and online courses, anytime anywhere, on any device. Students will also have access to interactive quizzes and access to tutor support to clear all their doubts.

If you wish to know more about our online classes, get a demo session, or get a deeper understanding of how the ACCA exam structure works, get in touch with our career guidance experts. 

[lakshyaca]

CA- CMA- CSEET Recorded Classes | Lakshya CA Campus

Set your Career Goal Early with our Recorded Class. Join our CA Foundation, CMA Foundation.CSEET recorded classes & Get Free Trial for 10 days and a 15% Fee discount

[lakshyaca]

Can an Average Student Pass CA?

CA is one of the most sought-after professional courses in the nation and for good reason. One of the biggest concerns aspirants have is if the course can be very difficult for the. It is not possible to answer this in one word. CA becomes incredibly difficult to pass if you do not prepare well for it. It is also a course that requires its aspirants to set aside time religiously to study, focus, determination and seriousness for the exam are very crucial if you wish to do well. CA is a course that needs a lot of perseverance, the reason why many students don’t do well for the exam is because of the same reason, they do not completely invest themselves enough to gain the qualification.

CA is a great career option as it is highly regarded, respected and gets remunerated well. It is also a course which is high in demand cause every year almost 50,000 CAs are required by the industry and the demand to supply ratio never matches. The job is also very flexible as it gives its aspirants the right to decide if they would like to work on their own by setting up a firm, or work for a well reputed organization.

The requirements to clear the CA is very straight forward. Students are expected to score 50% of marks, and the syllabus also has been well laid out by the ICAI. The main mistake that students make is not paying attention to the study material and scanners that are provided by the institute. They focus on professional exam questions and skim through the study materials and scanners, but what we should know is that the chances of scanner questions and study materials being repeated on an exam are more.

As attractive as the CA profession is, it is also a profession that is highly demanding. But this does not mean that the course is very difficult for an average student. If you have a natural liking or inclination for Accounts and Auditing then you won’t feel that the course is tough. Even an average student can do well and make a flourishing career in CA if they plan and study well.

The number one thing that a student needs to focus on is creating a good time table.

In this blog, we will also discuss on tips that will help students to clear the CA exam with ease.

Tips for CA Theory Papers

Start early and start with theory — It is always ideal for students to start their early. It gives them a lot of time to plan and set a mood for the day. Since the mind is more receptive to new information in the morning, starting with theory papers is a good way to go.

Continue with theory post lunch. If you are feeling tired or sleepy you can switch to practical. If you follow this technique then you will be able to easily touch 4 papers with ease each day. Try and make it a practice to do theory when your mind feels the most alert and stick to this routine.

Create a well define timetable — Never overburden yourself. Set realistic schedules and targets and set schedules prior to starting with the studies. Unlike the myth, you may have heard you don’t have to study 16 hours a day to clear well. 10 hours a day should be more than enough, it is more about productivity and less about sitting in front of your books. This also gives you type to sleep well, which will also improve productivity.

Complete coaching classes 2 months before your exams — Set aside the last 2 months just for revision alone. Ultimately it comes down to you putting your best foot forward, coaching Centre's may be able to explain a topic but you need to do the studying yourself.

Give equal importance to all your papers. Many a times students focus more on practical papers and not theory papers. But it may be interesting to note that most students who focus on theory papers tend to do very well in those papers.

Refer to the previous year’s question papers and exam patterns. Go deep into your scanner, you would be able to see that 20–30 mark questions are directed to test your IQ. These questions are also repeated, so pay close attention to these questions as they may be repeated again.

When writing the papers make the answers precise. You don’t have to write long answers, you need to write just 2 sentences to convey your point.

Underline the answers so that it is very visible what you are trying to communicate. Also space it out. Underlining and spacing your answers well will bring attention to the paper examiner/checker. It will clearly convey what you are trying to say and will fetch you more marks. Even if it is one mark more that could make a difference between passing or failing and you attempting the exams another year.

Use jargon/ professional vocabulary. It could be your maxims for corporate law paper. Writing ‘Apex Court of India: Supreme Court” will showcase your professional skills and could earn you some brownie points.

If you recollect case law well then that is great. But if you are unsure of it but if you know which Court it is HC/SC/ITAT then state that. It is always better to convey all the piece of information that you have than nothing at all. This also applies when you are looking into allied laws you can definitely guess the Act the question is asked from. Be it the Negotiable Instruments Act, Partnership Act, SOGA, Banking/Insurance Acts, Interpretation of Statutes etc. Quoting the Act with the years 1981, 1932 etc. is necessary.

If you are unsure about a section, clause, auditing standard etc. Then please do not quote it. It is better to not write it than state something wrong and create an impression that you do not know your subject well. This could affect the way the examiner marks the rest of the paper.

Tips for CA practical papers

You are a professional now so the way you convey your answers should also reflect that. When writing rupees, use the new rupee symbol. Do not write the “Rs.” symbol on the examination papers.

Draw a margin on both sides of the paper, this will make sure that the paper looks tidy and the final answer will be easily legible to the examiner.

Ensure you write the unit for your final answer, whatever it may be Dollars, Millions, Rupees, Kgs, Cma, Per unit etc. Don’t expect the checker to assume what the units are just because the unit was mentioned in the question paper. Make sure you write them and underline the final answer so that it is well understood.

Write the formula when you start working on an answer. It will clearly convey your thought process and that you are very well aware of the type of question asked and its sub-questions. It is also a good idea to place the formula in a box.

In case you are not able to solve an answer for any reason then write the chapter or the formula/concept note.

Similarly, when it comes to questions you have no idea about, attempt the question. Do not leave it blank. You may just get half or one mark for it, and as many of you know that makes the difference between a pass or fail. Write concept notes or any data you may have as there are marks for such steps too.

Many of the tips mentioned here may seem like things even students in school should know. But you would be surprised to know that it is such small things that make a huge difference in a student clearing their exams. Your exam paper should look outstanding. Make sure you earn each and every mark and a good presentation is a right way to ensure you get that. Points such as underlining an answer etc may not seem important to you when attempting the paper. The examiner/checker will be checking multiple papers in a day, you have to ensure that they are able to grasp every bit of information that is thrown their way.

These are just some ways by which even an average student can do extraordinarily well in their CA exams. If you have more queries or need more support please feel free to contact the Best CA Coaching Centre in Kochi.

[lakshyaca]

ACCA Online vs. Classroom Learning: What’s the Best Way to Study?

ACCA is one of the most sought after professional careers across the globe. It is also one of the oldest accounting bodies in the world and has over 200,000 members and 500,000 students. After successfully passing the set of exams, you can have a prosperous career in accounting or finance. The ACCA qualification is highly sought after in management, banking and consulting fields. So if you are someone who is looking to pursue their career in ACCA and is considering getting coaching for the same a couple of the questions you may have is

Is learning ACCA online a good way to approach the exams?

How is traditional classroom training?

Online vs traditional classroom: which is the right fit for me?

Are the chances of clearing a paper harder when you are studying online/offline?

These may be just some of the questions when you may have when contemplating of the mode in which you want to attend the classes. In this article, we will be discussing both the merits and disadvantages of offline/online classes and will help you decide which is better suited for you. 

For ACCA exams, the tutor’s role is the highest when it comes to building the knowledge, application skills, confidence and exam technique capability to enable students to achieve exam success. The fundamental aim of ACCA students is the same, whether learning in a classroom or online – to achieve exam success. 

Offline classes/ traditional classroom learning

ACCA was traditionally always taught in person. It was worked very well for a lot of students over the years. There aren’t a lot of disadvantages to traditional classroom learning, but convenience is definitely one of them.

Convenience - Students have to invest time to travel and reach the physical classroom. They could ideally use this time to unwind, revise or prep for the class instead. 

The pace of the class - sometimes when classes are taught online they could get slower as there are other factors/distractions that may affect the class

Discussion - When you are attending classes offline, there is a lot more opportunity for you to discuss the topics with your friends and have a healthy conversation about the topics. 

Sense of community - One of the biggest advantages of offline classes is that you get to share your experience with other students who are also in the same space as you are. This at many times will help motivate you when you are in a tough space or help you relieve your pressure as you can discuss the challenges you face together.

Cost -Offline classes can many times be more expensive than online classes as they have to cover overheads such as a physical classroom, electricity bills etc.

Online Classes

What are the different modes of online classes?

You may or may not be aware of the fact that there are different ways you can consume classes in the online mode of learning. Here are some of the modes of delivery that falls under the online classes, and do keep in mind that the type of classes may be more suited for one student compared to another, it all depends on how prepared you already are, and what is the level of training one requires.

Online classrooms

The online classrooms function very similarly to traditional face-to-face classrooms. The only difference that is there is that the tutor will be delivering the classes via a webcam and students will be able to listen to the classes as the tutor uses slides, or an online whiteboard to communicate the subject matter. Unlike raising a hand and asking for questions like you would in traditional classrooms, students can take advantage of the chat panel to discuss the topics.

Recorded Classes

Sometimes online classes are recorded so that students can access them and watch them at their convenience at a later point in time. Pre-recorded video content generally focuses on particular topics. Just like with online classes, recorded classes are also presented in the same manner with the tutor communicating topics with the help of animations,  whiteboard or at times just talking directly at the camera. Recorded classes are perfect for students who have some knowledge about the topics, or want to learn and go through specific topics. It is also a great way to revise through topics or clear doubts on specific topics you had attended classes for earlier. 

E-Learning content

Some institutes use e-learning content as a mode of online classes. These could include various learning materials that are available online, or students can have access to quizzes, or other activities where they can test and build their skills and knowledge on the topics. ACCA for instance has their ACCA-X courses which used the e-learning mode of training as a part of their programme. 

Advantages of online classes

Comfort - It goes without saying that one of the biggest advantages of studying online is that you can study in your comfort. It is ideal for students who don’t live in the city or are near coaching centres.

Time - Another advantage to studying online is unlike in the offline classroom you don't have to travel to class. This will save you a lot of time which you can utilize for revision or other activities. 

Lower distractions - You may be able to enjoy lectures which are not disrupted, this means you will be able to access classes that are more streamlined.

Lower tuition fees - In general offline classes are not as expensive as online classes. This is primarily because they don’t cover the overhead costs.

Ease of asking questions - Many times students feel overwhelmed to ask questions in the classroom. With online classes, students can ask questions with ease without the fear of feeling ridiculous. 

Disadvantages of online classes

Lack of interaction - One of the biggest disadvantages of online classes is that students will not be able to interact with one another, they may also be at the disadvantage and not be able to ask questions if they are accessing recorded sessions

Community - With online classes, another thing that is lost is the sense of comradery and community that gets built between students.

Final Verdict - Online VS offline classes, which would suit me more?

Traditional or offline classes have been successfully shaping the lives of students for decades. It is, without doubt, a proven form in which students can access classes. But that being said, with the new way in which digitalization is taking over the world, online classes will be a game changer, especially for students who are located in remote locations online classes are a boon. 

The best way to understand which mode suits one over the other is by online attending the classes personally. 

Online classes are great for students who have a crunch on time and money. It is perfect for working professionals or students who are revisiting a paper. They will be able to effectively cover the portion and gain a grasp on the topic with ease. It is, without doubt, a way to gain maximum potential in an easy manner. 

Since digitization has been embraced by most industries, it is of no surprise that the education industry is also going along the same path. Most reputed organizations will offer you trial or demo lectures where you can go and attend classes first-hand to experience how the classes would be for you. 

At Lakshya we have been a pioneer in providing both online and offline classes and have produced various rank holders through both modes of classes. All of our tutors are experienced professionals who are well versed in handling classes in multiple modes. You can get in touch with our team and we would be more than happy to support you with a demo class so that you can experience the classes first hand and take an informed decision for yourself.