You’ve finished with BAF, what now?
BAF/B. Com (A&F) i.e. Bachelor of Accounting and Finance/ Bachelor of Commerce in Accounting and Finance is an under-graduate program which was introduced by the University of Mumbai in the year 2003-04. It is a 3-year self-financing degree course spread across six semesters i.e. two semesters a year, focusing on the domains of Accounting and Finance. It also provides opportunities to gain a broader insight into the financial aspects of Business and Management.
The objective of introducing this course was to enable self-employment and provide skilled professionals in the field of Accounting & Finance to organizations. A blend of Interaction, Presentations, Projects, Industrial Visits and Practical Training is used to build the skillset of BAF students to enable them to produce innovative solutions to problems, apply research skills to business challenges and communicate effectively. BAF will aid you in the process of acquiring knowledge in the areas of Financial Accounting, Cost Accounting, Auditing, Taxation, Economics, Business Law, Business Communications and IT.
Internships during BAF:
BAF is a field which stresses indomitably on the need for hands-on experience. Accounting and Finance are two disciplines which are driven not just by their theory but also their application in the real world. They are not just about number crunching and excel sheets but serve the function of a problem solver.
To master the skillset required to dominate this industry and do well, one needs to start early. This can be done with Internships. An internship is not just a great way to learn the craft but also is a key attractor to recruiters which gives students who intern an edge over those who don’t. BAF students need to be specific with the internships that they take up.
Some examples of good internships for BAF students:
- Internships at Accounting Firms
- Internships at Banks
- Chartered Accountancy (CA) Internships
- Actuarial Science Internships
- Internship at Taxation Firms
- Working as an Accountant or Assisting an Accountant
- Interning with a Financial Planning Firm
- Financial Analysis Internship
With these internships, one can learn about hands-on accounting, strategy making, in-depth knowledge about the tenets, trends and tenacities required to be a good value-add for any corporations Accounting and Finance department. It is often seen that students who perform exceptionally well at internship get a PPO or Pre-Placement Offer at the firm that they were interning at.
Tip #1: Work your way to a PPO. It is better to work at a place that you are familiar with and can perform better at especially at the onset of your career.
For Internship Opportunities Check out:
Job Opportunities/ Employment Opportunities:
Right after finishing BAF, graduates can join an accounting firm and start working. BAF graduates can primarily work as Accounting Assistants, Financial Planners, Bankers, Portfolio Managers, Stock Brokers, Traders, Analysts and even work at actuarial firms.
For people aiming for the moon, there are some paths that are considered as the ones that only the righteous ones tread on when it comes to commercial fields. If you are one of those people, then here are some job profiles that you can look at:
- CA (Chartered Accountant):
Chartered Accountant, commonly referred to as CA, is a title which is an internationally recognised professional designation; the certified public accountant designation is generally equivalent to it. Chartered accountants work in all fields of business and finance, including auditing, taxation, financial and general management. Some are engaged in public practice work, others work in the private sector and some are employed by government bodies.
- Company Secretary (CS):
The Company Secretary (CS) ensures that an organisation complies with relevant legislation and regulation, and keeps board members informed of their legal responsibilities. Company Secretaries are the company’s named representative on legal documents, and it is their responsibility to ensure that the company and its directors operate within the law. It is also their responsibility to register and communicate with shareholders, to ensure that dividends are paid and to maintain company records, such as lists of directors and shareholders, and annual accounts.
- CFA (Chartered Financial Analyst):
The Chartered Financial Analyst (CFA) Program is a professional credential offered internationally by the American-based CFA Institute to investment and financial professionals. The program covers a broad range of topics like investment management, financial analysis, quantitative analysis, equities, fixed income and derivatives, and provides a general insight into other areas of finance.
- FRM (Financial Risk Manager):
Financial Risk Management is the practice of economic value in a firm by using financial instruments to manage exposure to risks: operational risk, credit risk, market risk, foreign exchange risk, shape risk, volatility risk, liquidity risk, inflation risk, business risk, legal risk, reputational risk, sector risk etc. Similar to general risk management, financial risk management requires identifying its sources, measuring it, and plans to address them. Financial risk management can be qualitative and quantitative. As a specialization of risk management, financial risk management focuses on when and how to hedge using financial instruments to manage costly exposures to risk.
For job openings check out:
Tip #2: A great way to look for employment opportunities as a BAF graduate is via LinkedIn. Make an account, build a brand for yourself and then endorse yourself.
It is vital that you realize your potential and skillset and look for jobs which suit you and your credentials the best. Be ambitious and inculcate ethics along your journey, and success will be at your doorstep, no matter which career you choose.