Reasons for growing popularity of MBA colleges in India

Planning is a good thing and it is very important to have a plan in our heads, like a blue print, so that we don’t lose sight of our short and long term goals. Usually after our graduation when we think of our long and short term goals; there are two major possibilities either;

     a)     To take up a job and take the first foot forward in the career front or

     b)    To go for further educational courses

And it is a phase now where Masters in Business Administration (MBA) is one of the courses that’s not only opted by the graduates but also the experienced corporate employees.

Some of the main reasons why MBA colleges in India gained popularity are;

     a)      It is considered to be an important step towards career progress

     b)      In order to change the career smoothly, experienced people started opting for MBA

     c)      To know more and more people from different walks of life, this course is a great platform.

     d)     One can gain a lot of knowledge and real life experiences through this programme

    e)      Especially for the aspirant managers who would like to settle in abroad, this programme offers wide possibility.

In the recent times there are some of the best mba colleges in India that have become very popular. There are colleges which have the accreditation from the AICTE, ISO, NBA and ACBSP and of course it is like a feather on their hat as it displays that are capable of providing the best facilities, best of education and a glimpse of real life experiences to the fresher’s and knowledge sharing by the experienced students.

So for all the prospects who are looking forward to take a step to achieve all their set goals, MBA would be a very wise choice!

IFRS Industry Institute Interaction (III) session held at SCMS Cochin for PGDM students

SCMS Cochin School of Business organizes Industry Institute Interaction (III) sessions throughout the year to introduce students to new concepts and business practices that can increase their knowledge and employability.

 On 10^th of September 2014, the current PGDM batch attended the III session on International Financial Reporting Standards (IFRS). It is important for the PGDM students to understand the finer nuances of IFRS since they are now adopted globally. IFRS were first designed to harmonize accounting across the European Union, but the concept was soon adopted world over, making company accounts understandable and comparable across international boundaries.

Mr. Mahesh Mohan, External Quality Assessor, IAAP, UK, and Prof Dr. Gopal Sharma, National Trainer, IFRS, addressed the 23 students who were eager to learn the features and challenges of IFRS. The session began with the main speaker, Mr. Mohan, a member of the International Association of Accounting Professionals (IAAP), talking about the importance of IFRS as a Global business accounting language. He explained that IFRS are specifically crucial for multinational companies, and how their significance has increased with international shareholding and trade. He further surprised the audience with the fact that, “IFRS has been adopted and is practiced by 174 countries including India”. 

IFRS are set by the IASB (International Accounting Standard Board) and have become global standards for preparing financial statements. The globally comparable financial statements enable public companies to compete abroad, raise capital, and win global contracts. Mr. Gopal Sharma spoke to the students next and discussed the importance of understanding and practicing the IFRS. He said, “IFRS needs to be understood and followed in letter and spirit when preparing financial statements since the balance sheets and accounting statements communicate the health, wealth and pulse of a business to its stakeholders”.

The floor was eventually thrown open for discussion and the students posed questions to and interacted with the experts to clear their doubts and queries. The session was concluded by Dr. Filomina P. George, Dean- Academic Administration, SCMS Cochin School of Business, who informed the students about the inclusion of IFRS in the PGDM curriculum.