ICAI CA exams now have two types of syllabuses for national and international students. ICAI has recently announced an international curriculum for engaging international accounting students. The education policy 2020 approved by Union Government states that the internationalization of education opens up new opportunities, bring equality and create business leaders for the global financial market. Online learning has reached its peak, and it opens the way for international students to get Indian professional education. The three levels of Chartered accountancy training, ITT and MCS, would be imparted through e-learning and virtual mode. The international curriculum promotes e-books and e-journals for distance learning. By satisfying the international students, knowledge sharing, the research and e-learning platform contribute to accounting education.
The resource requirement of every business is natural, material and human-centric. Globalization comes in to picture when human resource plays a crucial role in moving the industry. Some industries have a global impact and wide reach in other countries. Global presence improves opportunities and minimizes risks in the commercial market. Ernst & Young stated in a report that India is an attractive market for deployments and PV investments. Amazon India wanted to support Indian start-ups operating in the domains of agriculture, digitalization and healthcare with a venture fund. The extended hands of Foreign Companies and foreign investors minimize the risk in the Indian markets. This blog talks about the learning patterns and working knowledge of international students.
Learning pattern of international students
ICAI launches an international curriculum for Accountancy to substitute the global certifications. The international curriculum for accountancy aspirants abroad explains accounting concepts from an Indian and global perspective. Fox’s (1983) research states four conceptions related to education. They are shaping, building, growing and travelling. Shaping is the pace of shaping the mind of the student. The building is creating inspiration or role models for the students. Travelling is guiding the students to know more about education and seeing education as a journey. Growing is the pace at which students grow along with their accounting student counterparts. The curriculum which satisfies international challenges comes from the perfect understanding of the learning pattern of an international student. And it also helps to break the boundaries between countries. The learning needs of the students provoke the research for future studies. Learning the challenges associated with the global and domestic market educate the students to fill the gap in the accounting research areas.
Working knowledge of international student
- The international curriculum provides a common generic vocabulary for a variety of accounting issues.
- Companies with cross border business follow GAAP and IFRS.
- ICAEW stated in a press release that financial statements which reflect the international accounting standards get recognition from stock exchanges operating around the world.
- The US Securities and Exchange Commission has accepted the international accounting standards in the year 2000.
- ICAEW emphasizes minimising the gap between IAS and GAAP in the year 2002.
- UK Government mentioned that the companies following GAAP and IAS would be treated equivalent during tax treatments.
Conclusion
The marketable skills for the accounting profession depend upon the job profile of the accountant. And also, the accounting taxonomy of the country in which the accountant is working. The classification in terms of international operations comprises anti-money laundering, financial industry regulatory authority, know your customer, and comprehensive capital analysis and review. So, creating a path with stable employment opportunities require the exposure of international markets to accounting professionals. CA institute rolls out the international curriculum to introduce Indian education to the global population and by the way fill the gaps in the research about finance. This curriculum helps for better perception and coordination.
