Why a course in Professional Accounting in MBA (Fin) degree?

Why a course in Professional Accounting is more effective in the industry than an ordinary MBA (Fin) degree?

Typically, a MBA degree has a general management curriculum plus a specialization. A mix of marketing, finance, quantitative methods, HR and Personnel, strategy and organizational behavior subjects form the general management part of any MBA program. A MBA (Finance) program is not much different from another MBA program except some additional papers in the concentration area because the compulsory first year papers are same for everybody and in the second year, most students go for some scoring papers like organizational behavior, irrespective of the discipline they belong to. An MBA (Finance) 2nd year student has practical limitation in opting for tax or audit related papers because faculties are not equipped. Hence, the specialization papers are invariably international banking, portfolio management, strategic finance papers only which are in fact some chapters of one single paper of CA, ICWAI, CPA, CMA examinations. With a lack of academic input in taxation, accounting standards, performance management, audit areas, naturally the MBA (Finance) graduates don't feel comfortable to enter the finance and accounting function within any company and end up doing jobs in banking, insurance and capital market sectors. Hence, a major area of finance and accounting job, i.e., the ‘financial controllership line’ is practically unavailable to MBA (Finance) people. This is why a professional accountant like a CA, ICWAI, CMA or CMA can work both within the companies as well as in the financial markets (banking, insurance and capital markets) but the MBA (Finance) people find it difficult to work within the companies. A Professional Accounting certification has all the ingredients of An MBA degree except that it does not have too much of organizational behavior, HR and personnel management issues. A professional accounting and finance certification =MBA (Finance) + Taxation + Accounting standards + Auditing - too much of theoretical discussion on history like subjects, viz, organizational behavior, HR and personnel management which can anyway be learnt by reading motivational books like Shiv Khera or Chetan Bhagat. Some people consider football is the real macho game, in the area of management, it is finance and accounting that are the real macho and robust subjects. We consider that papers like HR, OB and Marketing (except the statistics and marketing research) are the soft fillers to help one pass the MBA exam. The ICWAI, CMA and CIMA exams have strong application of mathematics and operational research. The Accounting Area itself is a great science. We assure you that a professional accountant will not have to seek under-employment in the insurance, capital market product selling, or working for a bank’s DSA (and selling products to relatives to save the job) at a salary lesser than primary school teachers get. Short certifications like NCFM or IREDA are good enough for these jobs, why an MBA?

Professional Accounting Vs MBA (Finance)

An MBA (Finance) student who does a professional accounting course like CMA(US) simultaneously, will not be required to read lightweight MBA(Finance) papers as they will automatically get prepared including major portions of marketing, strategy as well. We have known MBA is for building ones attitude and not for building skills. We are greatly perturbed to see that private B-schools are using the euphoria of common persons about MBA degrees to mint money but giving too less in return. We have found that a professional accounting career can be given to our boys and girls coming from middle class at a price that is one-fifth of an average MBA price but has much higher utility value than an MBA (Finance) career.