SPEAKER_00 0:00

Every year, lakhs of students choose commerce. Some dream of becoming chartered accountants, some aspire to work in multinational companies, and some want careers in banking, consulting, investment, or corporate finance. And almost everyone believes if I earn the right degree, my future is secure. But what if that assumption is no longer true? What if the world of finance is changing faster than our classroom? Artificial intelligence is transforming accounting. Automation is replacing repetitive work. Businesses are becoming increasingly global, and employers today are no longer asking, what degree do you have? They are asking, can you solve business problems? Can you think strategically or can you create value? So what does this mean for today's commerce student? What should they learn that colleges may not yet be teaching? And how can they prepare for careers that will still be relevant 10 years from now? So today's conversation answers exactly these questions. So Navaste everyone, I am Kapil Gupta, human potential coach, founder of Study Abroad Academy, and your host on the Kapil Gupta Career Pod Show. For more than two decades, I've had the privilege of working with thousands of students, parents, educators, universities, and industry leaders. And one lesson has become very clear to me. Students rarely fail because they lack intelligence. More often, they struggle because they lack clarity. Clarity about themselves, clarity about industries, and clarity about the future. And clarity about the skills that will truly matter. So that is precisely why this podcast exists. So every episode is designed to help you make informed career decisions, not based on assumptions, but based on conversations with people who are shaping the future of their professions. Because I firmly believe one meaningful conversation can transform an entire career. So today's guest is someone who sits at the very center of one of the biggest transformations taking place in the global economy. Mr. Arendam Ghosh is the South Asia head for the Institute of Management Accountants, USA, one of the world's largest and most respected professional associations dedicated to advancing the management accounting profession. With more than 24 years of leadership experience, spanning advertising, education management, ed tech, interactive, digital learning, and global professional finance certification, he has witnessed firsthand how finance careers have evolved, how employer expectations have changed, and how young professionals can prepare themselves for opportunities that are increasingly global. So today he's helping shape the next generation of finance professionals by bringing global competencies, international standards, and future-ready thinking to students and professionals across India. Mr. Ghosh, thank you for being here.

SPEAKER_01 3:36

Thank you, Mr. Kapedok. Absolutely. It's a real pleasure to be on your show. And I have been an avid listener to your some of the shows. And it's it's so good to see the kind of depth and also the kind of expanse with which you actually take the discussions forward. I feel myself honored to be a part of it. And thank you for inviting again. And Namaste, everybody, uh, we would definitely have a very, very interesting conversation over the hour. And uh I'm at the back of the call. Please let me know what are your queries so that I can probably help the next generation to decide, as you correctly said, uh make choices which are informed and which are correct for their career.

SPEAKER_00 4:21

Thank you. Thank you. It's truly an honor to welcome you to the Kapal Gupta Kirk Show. And thank you so much for joining us. Because if before students prepare for the future, they first need to understand why the future has changed. So, and I've seen that you have watched finance careers evolve for over two decades. So, what's the one moment or trend that made you realize that the traditional degree plus job path was no longer enough?

SPEAKER_01 5:22

Uh I think I cannot thank you enough for the first question, which is itself so exciting yet so intrusive with respect to the current generation that we are talking about. Uh so I'll try to give a few examples, real-life examples also that will be interesting for the audience and the student fraternity to relate to. And definitely I'll give a global perspective along with the Indian one. Uh, so obviously, we will have a global perspective, so global and local talking about. So, coming to your question, if I have to point out one defining shift, it would definitely be this that finance stopped being the organization's scorekeeper and became one of its most important decision makers. So, for decades, success in finance was largely measured by how accurately you could record the past, closing the books, ensuring compliance, and reporting financial performance. But today, that simply is the starting point. So modern finance leaders are expected to anticipate the future, influence business strategy, manage risk in real time, drive digital transformations, and increasingly leak the responsible adoption of artificial intelligence across enterprises. So the moment this becomes undeniable for me was when the conversations in the boardroom fundamentally changed in the employer's perspective. So finance professionals were no longer being asked about are these numbers correct? Now they are being asked, what do these numbers tell us about the next move we should make? So it is now about the profound shift. It means that finance has moved from measuring value to creating value. The transformation has only accelerated over the last few years. A finance leader today has to be as comfortable discussing technology, customer behavior, talent strategy, business models, as we are discussing balance sheets. So the data actually reinforces the reality. So let me talk about a few statistics that will be interesting for all of us. So if you talk about the world economic projects, that around 39% of the world's coal skills will change by 2030. So just around the corner, another four years or about three and a half years into the into the game. So while AI is expected to transfer millions of jobs, rather than simply replacing them, the professionals who will thrive won't necessarily be those with the highest IQ. Now, this is interesting for all of us to understand. They will not probably have the highest IQ, but the most prestigious degrees, they will all be those who can continuously learn, adapt, and apply knowledge to solve new business problems. I often tell young professionals that a degree is no longer the finishing line. It is basically the entry ticket. So your first job is not your destination, it is your first classroom. The careers that accelerate are built on continuous learning, globally recognized professional credentials, cross-functional exposures and expertise, digital fluency, and the ability to translate financial insights into business impacts. So, for example, take companies like Amazon, Microsoft, Unilever, their finance teams don't just produce financial reports, they influence pricing, strategies, optimize supply chain, evaluate investment, support product innovation, and increasingly partner with data scientists and EITs. So finance has become deeply embedded in every strategic. And that's why I believe the future belongs to what I call learning athletes. Professionals who treat learning as a continuous discipline rather than one-time achievement. So in today's world, knowledge has a very shorter shelf life than ever before, which differentiates exceptional professionals, is not what they already know, but how quickly they can learn what comes next. So the traditional pathway of degree, job, retirement isn't wrong, but it simply reflects a very different era which nobody is living today. In today's economy, careers are built not on a single qualification, but on a mindset of continuous reinvention. Because in modern finance, your greatest asset isn't the qualification hanging on your wall. Always remember this, my dear students. It's your ability to keep evolving faster than the world around you. And that's what will set you apart in this rat race of career.

SPEAKER_00 11:23

Perfect. Very well said. So and that's actually means there should be versatility, dynamism, the attitude to be an all-time learner, I would say. Because learning should never end now, right? Absolutely. So and that's really well answered because that really changes the way we think about careers. So see, like when an Indian commerce graduate walks into a global finance role today, so what's the gap employees are actually seeing? Is it technical? Is it thinking, or it's something else entirely? Okay.

SPEAKER_01 12:17

Again, uh, you you have a very clear knack of picking up from the last question, and I really appreciate that. So after this, I actually think we have been, I mean, we means I'm talking about we as an overall fraternity have been probably asking the wrong question for years. The question isn't whether graduates are technically capable. Yes, they are because they have been taught for it. However, the real question should be that whether they can convert that technical knowledge which they have learned during their studentship or during their learning years into actual business value. Having interacted with employers across India, Middle East, Southeast Asia, Europe, America, you name it, I hear a remarkable, consistent message. And that message, they are rarely say that we can't find people who understand debits and credits. What they say, so they actually find those kinds of people. But what they say is we need professionals who can analyze ambiguity, connect the dots, influence decisions, and help the business move forward. So, in other words, the challenge isn't a knowledge gap, it is an application gap. And that is very, very real in today's world. So most commerce graduates have spent years preparing for examinations where there's only one correct answer. But in business, it doesn't work that way. Business presents incomplete information, conflicting priorities, uncertain markets, and decisions that have to be made before all the answers are available. Imagine, for example, a CFO asking a young financial analyst a question, something like, let me put a question. Let's say uh if the CFO says that our margin has dropped by 3%, customer acquisition is rising, supply chain costs are volatile, and we are considering entering a new market. What do you recommend? And this is real, real life questions which happen from the top of the finance chain to the next generation. So there isn't a typical textbook answer to this question. The employer isn't testing accounting knowledge anymore. They are testing your structured thinking, your commercial judgment, your communication, and the ability to make recommendations under uncertainty. Because we are all living in this book world, that volatile, uncertain, you know, uncertain uh world that we are talking about. This that precisely is where the graph becomes extremely visible. So the finance professionals of today must be able to connect the financial data with customer behavior, operational performance, technology, risk, and strategy. They need to ask better questions before they provide better answers. So they also need to know the art of asking the right questions. The global workplace, if I talk about, is evolving rapidly. Even if we look at LinkedIn workplace learning research, consistently shows that employers increasingly value demonstrable skills alongside, and in many cases, above traditional academic qualifications. At the same time, again, giving a statistics from the World Economic Forum has highlighted that analytical skills, resilience, technology literacy, creative problem solving, and lifelong learning amongst the most critical capabilities for the future work. And there is another dimension that often gets overlooked. That is definitely communication. I have myself seen exceptionally talented professionals produce brilliant financial analysis, but struggle to explain it to a CEO or a sales leader or a CSO or a board member. So if your insights cannot influence a decision, its value is significantly diminished. So today's finance leaders are expected to simplify the complexities. They must translate financial data into business language that inspires action. The best professionals I personally have worked with possess what I call T-shaped capabilities. The vertical bar of the T represents deep technical expertise in finance. The horizontal bar of the T represents the broad business understandings, whether it is technology, strategy, operations, leadership, communication, or collaboration. And that's where the real business influence comes from. So India, if you look at every year produces one of the largest school of commerce graduates. And that's an incredible advantage of the volume, numbers. But I think our next leap in global competitiveness won't come from producing only mere more graduates. It's not the game of numbers anymore. It will come from producing graduates who can think globally, solve problems creatively, communicate confidently, and create measurable business impacts. And remember, ultimately, technological knowledge or technical knowledge may get you shortlisted, but it's your commercial judgment, curiosity, adaptability, and the ability to influence decisions that ultimately will build your global career. That's the difference between being a finance professional who represents and reports the business and the one who helps shape its future.

SPEAKER_00 18:39

Right, right. Because see when somebody has a degree, yes, we can call that person a literate person, right? But when the person has the right skills, the right personality traits, only then can we call him educated in the real sense. So that is why even the companies are not looking for just graduates, but actually problem solvers who can actually show that what they can do for them, right? And that's where communication as a learning skill becomes so very important. Right. And that is, I think many students become confused because for most of them, they are saying, okay, finance, it's accounting. Accounting still means bookkeeping, but the profession has grown far beyond that, right? So and you've spoken about finance and obviously the traits that one should have. So, and that is why many students ignore life skills in the rush for just getting more and more degrees. So, but uh to grow in their profession, of course, life skills are so very important, like analytical skills and the communication skills. And then attention to detail is very important in a finance career. So, you have spoken about finance careers demanding more than bookkeeping or theory just now. And so, can you break down in practical terms what management accounting actually means for someone who's only ever heard of accounting?

SPEAKER_01 20:19

Absolutely. I think this is one of my favorite questions that has come till now to me. Because anyway, you're presenting, which is globally the gold standard for management accounting. So I'll explain, I'll like to explain it in a very, very simple distinction. Uh, so financial accounting tells you where uh you have been. That's what financial accounting is all about. So it's a past data, it talks about where you have been. However, management accounting helps you to decide where you should go next. Mind it, the data set remains the same. Financial accounting will analyze the data and talk about how your performance has been previously. With the same set of data, a management accountant will talk about how and where the next level of growth will happen. So traditionally, accounting is primarily about recording, classifying, and reporting financial transaction security. It's essential because it creates trust, ensures compliance, and tells stakeholders what exactly has happened. Management accounting, on the other hand, is about using that information to make better business decisions for the future. It's less about preparing reports and more about shaping the future of the business. Let me give you a practical example. So for the students to understand. Imagine, let's say, a company proudly announces that its sales have grown by 20%. In this quarter. So at the first glance, everyone is supposed to celebrate, right? Because it has grown by 20% in three months in the quarter time. But here comes a management accountant, and he will ask a different set of questions. The questions could be something like okay, sales had grown by 20%, but did the profitability also grow? Question number one. Which products generated the highest margins? Were these sales driven because of giving excessive discounting? Did the logistic cost increase because of sales? Are we as an organization, as a company, acquiring profitable customers or simply acquiring more customers? And is this growth which has happened in this quarter as a 20% higher, is it sustainable throughout or just a one-time event? So think about those questions often matter far more than the sales number itself, because sales number is tip of the iceberg. But when somebody really gets into the deep of it, then you understand that it's not about mere numbers, it's about the also the bottom line, the profitability part of it. So again, I'll give you another example. So let's say we consider an airline. Two flights may leave at the exact same time with the exact same number of passengers. A financial accountant records the revenue and the cost accurately for the two flights. However, the management accountant analyzes which route is actually more profitable, how fuel prices affect those margins, whether ticket pricing should change, and whether aircraft capacity should be reallocated to maximize returns. So it is actually a more detailed way of questioning rather than just simply recording what has happened. So that's the difference. One records performance, the other improves performance basis the same set of data. And that is why management accountants are deeply involved in decisions around pricing strategy, budgeting, forecasting, capital investment, cost optimization, mergers and acquisitions, product profitability, business expansions, sustainability initiatives, and increasingly AI-enabled decision making. And this role is becoming even more important. So again, I'm throwing another data. So research from McKinsey shows that as automation and AI continue to handle more routine transaction processing and reporting in finance, now the finance professionals are spending more time on performance analysis, strategic planning, scenario modeling, and partnering with business leaders. So, in other words, technology is taking over repetitive work, allowing finance people to focus on higher value decision support. And I often say that data by itself has no value. Insights that is, you know, that is driven from the data actually create values. And decisions ultimately taken based on those data create an impact. So that precisely is what a management accountant is delivering. It transforms data into insights and insights into actions. If you suppose look at some of the world's most successful companies, whether it is again Amazon optimizing its supply chain, Apple making billiard dollar investment decisions, our very own Tata group evaluating new businesses, or leading banks managing risk. Management accounting sits at the heart of those decisions. Finance is no longer operating in the background, it is actually sitting at the strategy today. So ultimately, to give you a synopsis at the end, accounting answers questions like what happened? Management accounting answers far more valuable questions like what should we do next. In today's rapidly changing business environment, that ability to guide better decisions is what truly differentiates between a world caste professional and a non-finance professional.

SPEAKER_00 27:21

So that means, simply put, can I say that a management accountant is not preparing reports, he's actually analyzing reports prepared by financial accountants and cost accountants that lead to better decision making, right? Absolutely.

SPEAKER_01 27:41

Absolutely true, Kapin. So I think it is about the it, I mean, in a very layman terminology, I put it like this it is about the storytelling, what the numbers have to say so that the business can take a decision of where to go, which way to go, and how to go.

SPEAKER_00 28:01

Right. So then let's address this question that's on everyone's mind today. Artificial intelligence, automation. And yes, some students are really excited, and most of the are very anxious, key, you know, what will happen to the jobs. So now let's separate perception from reality, right? So automation is doing to entry-level finance, what it once did to entry-level manufacturing. So, should a 19-year-old commerce student be worried or excited about that? So, I'm sure you are the right person to answer that.

SPEAKER_01 28:44

Thank you, thank you, thank you, Mr. Gupta. So, I think my answer will be very clear. They should be excited, but they should be also preparing differently than the previous generations. So every major technological revolution that has happened has the same pattern. It eliminates certain tasks, but it creates entirely new opportunities. So we saw it during the erstwhile industrial revolution, we saw it with the internet coming in. We are again seeing it with artificial intelligence now. The important point is AI is not replacing finance professionals. It's a mismyth, it's a misnomer. What it is doing is that it is replacing routine work with finance. That's a fundamental distinction. Think about what many entry-level finance roles involved a decade ago. Manual reconciliations, data entry, preparing standard reports, copying information between systems, routine compliance activities. These are precisely the kind of tasks that automation today performs faster, more accurately, and at a scale. But here is the exciting part. As machines take over repetitive works, humans can finally focus on what creates the greatest value, which is analyzing complex problems, identifying opportunities, evaluating risk, influencing business decisions, and driving innovations. And that's why I believe today's generation has an opportunity that previous generations never had. So as per your question, let's say a 19-year-old entering finance today, finance field today, can spend less time becoming a processor of information and more time becoming a creator of insight. That's how I'll put it. So the data is supports this shift. So if we now talk, again talk about the World Economic Forum's future of job report, which got published in 2025, just about a year back, it identifies analytical thinking as the most important core theory for the future workforce. While artificial intelligence, big data, and technological literacy are among the fastest growing capability areas. So at the same time, employers are increasingly looking for professionals who can combine financial expertise with digital fluency, commercial judgment, and leadership. In many ways, the role of a finance person is becoming, or a finance professional is becoming, more intellectually rewarding. Imagine like asking an AI tool to analyze the financial performance of a business. Within seconds, it can generate multiple charts, identify anomalies, even suggest possible explanations. But the CEO won't ask AI whether the company should acquire a competitor or enter a new market or launch a new product or restructure its final strategy. The CEO will ask the finance leader those because those decisions require context, ethics, judgment, experience, and an understanding of people, not just algorithm, which AI is all aware of. So I often tell students that AI can generate answers, but humans must decide which questions are worth asking. So there is a pure science of asking the right questions today. That has to be learned first. That's where careers will be built in the coming days. So if I were to advise that 19-year-old student today, I would say certainly master accounting and finance, but don't stop there. Learn data analytics, understand AI and automation, build communication skills, develop commercial awareness, learn how business creates value. And most importantly, cultivate curiosity because the ability to learn continuously will become your greatest competitive advantage. The professionals who struggle won't necessarily be those replaced by AI. They will be those who refuse to evolve alongside. So just don't be a dinosaur. Rather be a crocodile, if I have to give an all-history shows that technology, because we all know dinosaurs and crocodiles coexisted at one point in time, but crocodile is very much a reality today. Dinosaurs we only see in movies. So just to wind up, history shows that technology rarely rewards those who resist change. It rewards those who learn to lead it from the front. For this generation, AI isn't a competition. Remember this. It is the most powerful career accessor they have ever had, provided they know how to use it well and also ethical. Because ethics is another very important part that is critical while you are using AI in your day-to-day systems.

SPEAKER_00 34:19

Because see, uh going into the past, uh, I still remember when in the 90s computers came, right? People were so worried, jobs will just go away, there will be so much unemployment. But gradually we saw new kind of professions emerging out of it. And those who evolved, who adapted were you know smoothly transitioning. Then came internet again, there was so much information, people again grew anxious of it, and now it's the uh AI. Once again, the same anxiety. Now, I just want to you to add to this that see, whenever new technology comes, though on one hand we say human beings are the most adaptive animals on earth, but still, whenever some new change comes, we are the ones who are the most anxious, also. So, how can we just tackle that? If you can just let me know shortly because that I'm sure that will be a good learning for the listeners.

SPEAKER_01 35:28

So, uh what exactly actually I think what your question tries to interpret is that amongst this VUCA world, what is that uh, you know, how exactly people should or the new generation should kind of uh assimilate everything and start building on the muscles which are relevant uh you know in in terms of uh how to shape it. So, again, a beautiful question. So it was basically about, as I said, uh this will be very simple yet very powerful for people to remember. One is you should be a lifelong learner. Okay, as I said in the beginning, please consider your career not to be a sprint of 100 meters, rather, it should be a marathon of 20 kilometers or even beyond. Okay, so if you see an athlete, how they actually grow their body, their muscles, their you know, daily schedules. So it's like you have to have the tenacity to go on and on. So as technology changes, as the you know, as the entire world shifts from a way of looking at things to the other, what you always have to come up, and this is, I would say the Gen Zs are far more adaptable, far more faster than what we used to be during our days. And that's because they have got so many of technology around since they are since they have been born into the systems, is another good thing. So, what they definitely need to do is that they need to treat the new ways of life to be a partner of their life rather than uh challenging that notion rather than telling that it is our competition, keep them as a companion. So that's one part of it. The second part, I think what's gonna always change and change for better is also do not, and today we are uh you know living in this social media hype age. Okay, and uh I'm sure that uh wherever we all have children who are into this generation, and I can draw inspiration or example from my own home with with with uh you know, uh I would say adolescent children or almost young adults, uh never ape another person because everybody's career journey is unique. Just because you are seeing in a social media that somebody got a promotion, somebody got a great job, somebody went into a great vacation, do not try to ape it the way it is shown. You do not know how or what challenges that person would have faced before. Number one. Number two, you do not know the veracity of it, how much of it is reality, how much of it is to put up in that page to get likes and you know more followers. So that's the one. So be realistic. Uh treat your own journey. So it's it's what's important is to enjoy that journey, that journey of learning, that journey of knowing new things, because destination everyone reaches. Somebody reaches uh five minutes early, somebody reaches five minutes late. It's okay to be slow, it's okay to be slow. There is no piercing hurry. This is something I think the new generation has to learn to a bit, which probably we had a little bit more of patience. We had a little bit more of uh because probably we never had those opportunities which this generation has. So there is always a trade-off. But I if I had to give that as a last part of your question, is that be a little bit more patient because things definitely will happen with each one of you. Only you have to know your rhythm and your pace. That's the way you look at it.

SPEAKER_00 39:17

Yeah, yeah. Now that's a nice analogy, also, and that it's okay to be slow because many a times I mentioned with uh my students that it's even okay to make mistakes, also, right? Absolutely. But it it's everybody has their own unique journey. And as we are talking about technology, and so we agree that technology changes industries, right? But ultimately, it's the people who build careers. So the next question becomes like what makes someone globally relevant? And as IMA operates across geographies and business cultures, so what does global finance fluency really look like? Is it a mindset? Is it a skill set? Or it's simply a certification?

SPEAKER_01 40:07

Again, I cannot thank you enough for those interesting and really mind-twisting questions that you are asking. So if I have to choose just one, I would say it begins definitely with the mindset. But to truly succeed in the global stage, it ultimately requires all three: a mindset, a future-ready skill set, and a globally respected certification. I would say think it of in this way that mindsets determines your willingness to learn. Skill sets determine your ability to perform, and certification validates your capability against an international benchmark. So they are all complementary and not competing elements. So let's first start with the mindset. So global finance fluency begins with intellectual curiosity and cumulative. It recognizes that the way that the business is done in Mumbai may be different from the way it is done in Dubai, Singapore, Frankfurt, London, New York, and being genuinely interested in understanding those differences rather than assuming your own perspective is the only correct one. So you have to be more broad-minded and more acceptable. Finance may speak the universal language of numbers, but business is deeply influenced by culture and geography. The same financial recommendation may need to be communicated very differently, depending on whether you are presenting to a Japanese board, to an American executive team, a Middle Eastern family business, or an Indian promoter-led organization. So the numbers remain the same. How you tell the story is the difference. The number may remain identical, but leadership styles, decision-making processes, stakeholders' expectations can vary significantly. And that's why global finance professionals don't just analyze financial statements. They understand people, they understand culture, and they definitely understand the context. Now, the second dimension you talked about is the skill set. So in today's finance leaders require a much broader capability than ever before. Technical finance expertise remains essential, that is bare bottom. But it must be complemented with data analytics, AI literacy, business strategy, communication, ethical judgment, risk management, and the ability to collaborate across functions and geographies. Increasingly, the finance professionals work in virtual teams spanning multiple countries, multiple geographies, multiple time zones. So it is not unusual for someone in India to collaborate, someone of his colleagues in Singapore in the morning, Europe in the afternoon, North America late in the day, maybe late evenings and stuff like that. So success in that environment depends as much on communication, adaptability, and influence as it does on the basic part, which is the technical knowledge. And finally, your last question, last part of the question the globally renowned certification. Now, a globally recognized professional certification provides something incredibly valuable. It creates a common professional language and a consistent benchmark of competence across. Countries. It signals to the employers around the world that your capabilities have been assessed against internationally recognized standards rather than only within one educational system. But I would also emphasize that a certification is a passport, not a destination. It opens doors, but it's your judgment, integrity, and performance that builds a long-lasting career. I often describe global finance fluency as the ability to work into unfamiliar boardrooms anywhere in the world, quickly understand the business context, ask insightful questions, interpret financial and operational data, communicate with confidence, and earn credibility through the quality of your thing. So in an increasingly interconnected economy that's becoming a competitive advantage, global mobility centers, the GCCs in India, multinational corporations, cross-border investment, and international business partnerships all require finance professionals who can operate comfortably across markets, regulations, technologies, and cultures. So when people ask me what global fluency in finance really means, my answer is simple is the ability to create trust, deliver insights, and make sound business decisions consistently, regardless of a job. So, because of in today's world, finance areas are no longer defined by where you are sitting and where you are working. They are basically defined by how effectively you can create value sitting anywhere in the world. And that's the main difference.

SPEAKER_00 45:57

Right. And see, you know, I'm already loving your answers. And when you answer the beautiful examples that you give, I'll say they are golden nuggets for all the listeners, the students and all my listeners. So thank you. Thank you for being so precise, so crisp. So even as I want to say it again and again, that I'm really loving your answers once again. And you know, one thing, because I work with students, right? So the one thing that I often hear from students is, sir, I've studied all the theory, syllabus is done, but I don't know how to apply it. In fact, you touched upon this topic in earlier questions also, right? So now so which brings us to something incredibly important, because business decision making and analytics are now core expectations and not just the add-ons, right? And you yourself mentioned it a little while ago. So, how does a student who's only studied theory start building the real decision-making capability? Because even today, many institutions in our country are only stressing on the theory part.

SPEAKER_01 47:11

Theoretical part, absolutely. And I'm um and I again, one of my most loved questions still now is this because this actually touches upon the reality, realistic problems that we have in the Indian uh education system, even till date, where we are talking about leading global organizations. We have so many examples, but still you are very correct, Mr. Gupta, that there are still institutions of great repute of Indian origin who still practicing the very age-old formalities. So, again, coming to the question, I think the biggest misconception among students is that decision making is something you learn after getting a job. In reality, decision making is a skill you begin developing long before your first day at work. Please remember this as a student I'm talking about. The transition from theory to practice starts with a simple habit. Stop asking what is the correct answer, and start asking what I would do if I were responsible for this business. Then it becomes an exploratory way of looking at a full, full pervasive scenario. That one shift is everything. Every annual report, every business news article, every quarterly earnings announcement becomes an opportunity for you as a student to think like a CFO rather than a student. For example, if you read a company's revenue has grown by 15%, but profits have declined, don't stop at the headline. Ask for yourself, why did the profitability fall despite higher sales? Was it because the rising raw material costs? It could be one scenario. Did the company rely heavily on discounts? Has the customer acquisition become very expensive? Other reality in life? What would I recommend if I were presenting a solution to the company's board next week? So start that role play in the mental capacity of a student, even when you are in your first year, second year. Don't wait for the campus placement to happen to get your first job. And that those are exactly the kind of questions today's finance leaders are asked at a daily basis. I personally often encourage students to become what I call decision athletes. I just mentioned it in one of my answers because just as athletes build their muscles through repeated trainings, professionals build judgments through repeated decision making. So you don't need access to confidential corporate data to do this. Let's, for example, take the annual reports of companies which is available in public domain, like Tata Motors, Inforces, Reliance Industrials, HBSC Bank, you name it, take any MIDI. Read the management discussion section, analyze the financial statements, compare year-on-year performance, identify the key business drivers, and then write down three recommendations you would like to make if you are the CF. How many of you are really doing this? If some percentages of you are doing it, you are exactly on the right track. The interesting part actually comes next. Then, once you have written those three recommendations, compare your thinking with what the company leadership actually did over the next following years. And that's real learning. Then you can fit against how good was your suggestion that you made to yourself. Beyond self-study, what is also important is students should actively seek experiences that expose them to ambiguity. We are always very afraid of ambiguity, but that's not the right way to approach internships, business simulations, space competitions, consulting projects, entrepreneurial ventures, student leadership roles are incredibly valuable because real business problems rarely arise neatly packaged like an examination question. In the workplace, you almost never have a perfect information. You will always often have to make recommendations with incomplete data, competing priorities, tight deadlines, and uncertain outcomes. And that's where judgment is developed. Technology, let's say, also offers tremendous opportunity today. Students can use External Power BI, Tableau, Python, AI, analytical tools, and financial modeling platforms to explore data and uncover insights. But here is an important distinction. Analytics doesn't replace judgment, it should strengthen it. A dashboard can tell you what is happening. An algorithm may even predict what might happen next. But only a thoughtful finance professional can determine why it matters, what trade-off exists, what risk should be considered, and what action the business should take. And that's why I believe the future belongs to professionals who combine analytical rigor with strategic thinking. One habit, if you have to recommend to every student, is this that every week analyze at least one real business decision. It could be a merger, it could be a product launch, it could be a price change, it could be an acquisition or a mere expansion into a new market. Ask yourself always these four questions. What decision was made? Why was it made? What alternatives were available? Would I have made the same decision if I was in that position? So if you are putting yourself these four questions, all those scenarios, you will actually become a better professional. You're actually kind of making yourself up to be a true professional. And do that consistently for a year. Everything needs time, as I said. You will yourself develop better commercial judgment than many people acquiring in the first few years of their career. Because ultimately, decision making isn't a talent people are born with. It is a discipline that they ultimately cultivate, and you can do it yourself. And in the age of AI, the professionals who stand out won't be those who simply understand the data. Rather, they'll be those who consistently turn data into sound business decisions that create measurable value. So be one of those diamonds, as I say.

SPEAKER_00 54:31

Right, right. And see, Arindam, we are talking about careers, right? Career decisions in India. On one hand, in fact, I would say the irony is that on one hand, government of India says if you are 18, you are eligible to vote, to choose the government, right? But the career decisions for themselves, they are rarely made by students alone. Parents play an equally important role in India. In fact, many a time it is not only a family decision, but sometimes it is a society decision, right? Parents are talking to uncles and aunts and everyone. And sometimes their concerns, of course, I agree that they come from love, but their information belongs to another era. The careers that we are talking about today, in fact, what the student is studying today is actually related to something, some career in the future. Right. And a parent is coming from the past. So there is a mismatch actually. And even this we can call it a generation gap, right? So a lot of Indian families still equate a safe finance job with a government exam or a plain BCOM plus CA part. So how would you gently challenge that thinking with parents listening today? Because parents have their own biases, their own mindsets. So I believe they will definitely listen to you.

SPEAKER_01 56:10

Thank you again for this question. So first, I would like to say that this to every parent who's listening to this podcast. First, your concern is completely understandable. Every parent wants their child to have financial security, stability, and a fulfilling career. And that's a universal aspiration, and that deserves a tremendous amount of respect. However, what I would gently challenge is not the intention but the definition of the word safe. For many years, a safe career meant something like joining the government jobs, becoming a chartered accountant, or securing a stable corporate career. Those are still excellent career paths. And many professionals have built remarkable careers there. But the world of work has changed dramatically over the last few years, more so since we have all experienced COVID. Today's career security does not come from working for one employer for 30 years. It comes from possessing skills that 30 employers want to hire. That's a very different way of thinking. In today's economy, finance has expanded far beyond traditional account. There are exciting opportunities in financial planning and analysis, which we say FPAs, business partnering, treasury, risk management, investment analysis, corporate strategy, sustainable reporting, forensic accounting, consulting, fintech, data analytics, and all AI enabled finance roles. Many of these roles simply didn't exist at the same scale some 20 years back or even for some 10 years back. So India itself offers a powerful example of this transformation. So if we look at over the past decade, India has become one of the world's leading destinations for the GCCs, the global capability centers. Today, thousands of multinational organizations run high-value finance analytics, technology and strategic options from India, not because of only lower costs alone, but because of the exceptional quality of Indian talent. These centers are no longer just processing transactions, they are driving global financial planning, digital transformation, business intelligence, and strategic decision making. So that means a young professional graduating today has access to opportunities that previous generation could scarcely imagine. So I often tell parents that the question has changed. Instead of asking which job is the safest, perhaps we should ask which career will prepare my child to succeed, adapt, and remain relevant over the next 40 years. Because the average graduate entering the workforce today is likely to experience multiple technological shifts. And we have ourselves seen so many in the current years, last few years, several career transitions and perhaps works across different industries, different geographies, and even different countries. So in that environment, adaptability becomes a greater source of security than predictability. And again, if we talk about the World Economic Forum, it continues to highlight that many of today's fastest growing jobs either didn't exist a decade ago or have evolved significantly because of technology and AI. Just about a decade ago, it was not even there. So that tells us one important thing that future careers will increasingly reward continuous learning rather than static knowledge. So my advice to parents is not to steer children away from traditional pathways like CA, chartered accountancy, or public services. But those remain highly respected professions even today. Rather, encourage to choose a path that aligns with students' strength, aspirations, and reality of a rapidly evolving global economy. Support them in building globally relevant fields, digital fluency, commercial judgment, communication, professional credentials, and create opportunities across industries and borders. Because ultimately the safest career is no longer the one that is least likely to change. It is the one that equips your child to thrive through these changes. And perhaps the greatest gift parents today can give their children is not certainty about one job, but the confidence and capability to succeed in any future the world creates for the student.

SPEAKER_00 1:01:31

Right, right. Now I fully agree on this. But you know, many a times what I have when I have interacted with parents, now their thought process comes from like they have had their own share of challenges in their lives, right? So they are just trying to have a risk-free path for the child. Now that is the intention of the parent. And I won't say it's wrong, but obviously there is no path as such a risk-free path. Then on the other hand, students are young, they have that risk-taking ability. So they want to explore the world. And I would say this naturally leads to another debate because students feel let's build the capability, learn different tools, right? Whereas parents are more into okay, first complete your degree, first collect your certifications, right? So there is a this is a real debate that's happening. That should students chase certifications early or build capability first and let credentials follow? So, where does something like the CMA fit into that sequence?

SPEAKER_01 1:02:46

Sure. So I actually think this debate creates quite a lot of false choices, unfortunately. It's a bit like asking, I'll tell you why. It's a bit like asking, should an athlete build fitness first or train with a coach? The reality is that both have to happen together. You cannot just say, okay, I will first become fit and then I will go for a coach. Or you cannot say that I will first find a coach and then start building on my fitness. It both has to happen together. So in the same way, capability and certification should reinforce each other and not compete with each other. The purpose of a world-cast professional certification is not to decorate just the resume. Rather, its purpose is to develop structured capability, validate competence against global standards, and prepare professionals to solve real business problems. And that's where certifications like the Certified Management Accountants, CMA US, become particularly relevant. The CMA US isn't designed just to teach someone how to record transactions. It is designed to prepare finance professionals for roles that influence business decisions, areas such as strategic planning, performance management, financial analysis, cost optimization, corporate finance, enterprise risk management, and decision support. Now, those are precisely the capabilities modern organizations are definitely demanding. But here is the most important point. A certification by itself does not create expertise. Expertise is created when knowledge meets application. So a study, a student who studies something like strategic performance management in the classroom and then applies those concepts during an internship, a business case competition, or a live corporate project actually develops something far more valuable than the knowledge itself. They develop the power of judgment. And judgment is what the employers ultimately II for. AI, automation, digital platforms, sustainability reporting, data analytics, and evolving business models are continuously reshaping finance. And again, the W or the World Economic Forum have consistently highlighted that a significant portion of today's core workplace skills will evolve over the coming years. That means professional learnings can no longer be viewed as a one time milestone achieved after graduation or along with graduation. It has to be become a lifelong discipline. I often say that your degree gets you started, your certification accelerates your journey, but your commitment to continuous learning actually determines how far you will go. And that's another aspect that's especially important in today's global economy. A globally recognized certification like CMA US provides employers with the confidence that because it represents a common benchmark of competency across the globe, across 150 countries. Whether you are being interviewed in Mumbai, Dubai, Singapore, London, or New York, it communicates that you have been assessed against international recognized professional standards. But I would also offer one word for caution to the students. Don't just become a collector of certificates. That's a very bad habit. And many of us probably think it that way. I have personally interviewed candidates with impressive list of qualifications who unfortunately struggled to explain how they would solve a real business problem. Conversely, on the other side, I have met with professionals with fewer credentials, however, who demonstrated exceptional commercial thinking because they knew how to apply what they have learned. So employers, and that's a reality, employers aren't impressed by framed certifications on the wall. It is good to get the first call. It is good to get selected for the interview, but it's in out there. They are always impressed by professionals who can walk into the meeting, analyze a business complex situation, communicate clearly, influence decisions, and create measurable business values. And so my advice is simple: learn, apply, reflect, certify, repeat. Repeat is important. You have to continue. You have to be a lifelong learner. Not because that the market demands more certificates, but because the market rewards professionals who continuously expand their ability to solve increasingly complex business problems. So ultimately, to end a certification like USCMA should never be viewed as a finishing line. It should be viewed as a powerful catalyst. That one that accelerates your journey from understanding finance to leading businesses. That's how I'll put it.

SPEAKER_00 1:08:53

Thanks. Because my listeners, you can say, I would say they're all career aspirants, they're students at different stages in life. And I just want to imagine, you know, somebody listening to us today has just graduated. They're ambitious, but they are confused at the same time. Because the comparison syndrome kicks in, right? That they are anxious about the future, they're they seem to feel that they're already behind. So then for such a student, if just trying to read their mindset, what should the next 24 months look like if they want to be future ready in global finance? Just completed graduation with a good degree, but still anxious about the future.

SPEAKER_01 1:09:50

So the first thing I would say to answer your query and your question on this is something which I just said a few of the questions before. With bold letters, please don't compare your beginning with somebody else's middle. One of the unintended consequences of social media is that graduates constantly see announcements about placements, certifications, promotions, or international jobs. And many begin to believe they have already fallen behind. In reality, careers are marathons and not sprint. Next 24 months are not about trying to learn everything, they are about building the right foundation deliberately and consistently. So the word I will emphasize on is consistent. If I were mentoring a graduate today, I would think of those two years as four distinct phases. The first six months is about building your foundation, master accounting and finance fundamentals, become highly proficient in Excel and spreadsheets because they are still the language of business. Develop data literacy by learning tools like Power BI or Tableau. Improve your written and verbal communication because the ability to explain financial insights clearly is just as valuable as producing them. At the same time, don't try to prepare for every possible career. That's one of the biggest mistakes graduates make today. Decide which direction genuinely excites you. Whether it is management accounting, whether it is FPN, whether it is corporate finance, whether it is business analytics, consulting, treasury, risk management, identify and then start building depth in that vertical. So once we have completed the first six months, the next six months is about building your capability. This is the time to pursue a globally recognized professional qualification. Walk on real business cases, participatory internships, test competitions, consulting projects, and then begin applying classroom concepts to real-world business way. Just don't study concepts, create evidence, build a financial model, prepare a budgeting exercise, analyze an annual report, design a Power BI dashboard, evaluate a company's pricing strategy. These become your portfolio of capabilities for the future. The third phase is about building experience. Start networking your professions. I would say your net worth is your net worth. Attend industry events, like mentors, apply for internship and entry-level roles, practice interviews, mock interviews, learn how business actually makes decisions rather than simply how textbooks really explain them. And all throughout these 24 months, cultivate a habit above everything else of becoming, again, as I mentioned, a lifelong learner. The finance profession is evolving faster than ever. AI automation, analytics, sustainability reporting, digital finance, emerging technologies will continue to reshape the skills employers expect on a day-to-day basis. The professionals who remain relevant won't necessarily be the smartest in the room. However, they will be the ones who can learn, unlearn, and relearn faster than anyone else or everyone else. I would encourage students to think beyond the technical knowledge, read about economics, understand global markets, follow earnings, you know, uh, you know, how the earnings are being involved, study some of the great businesses around, observe how CEOs are communicating with the investors, develop commercial curiosity because finance is ultimately about helping organizations make better decisions. And perhaps my most important advice is don't wait until you feel currently ready before taking opportunity. Confidence rarely comes first. Confidence is usually the result of preparation, repeated practice, and small wings accumulated over time. I have personally met with success, you know, countless successful financial leaders over the years, and the very few of them felt ready when they began their careers. And that's a reality. What, however, distinguished them wasn't perfection, it was consistency. The word I emphasized upon at the beginning. Always be ready to go around your zone of comfort. Should not stick to your comfort zone. So if I have to summarize the next 24 months in one sentence, I would be saying this that build competence before changing titles, one, build credibility before changing salaries, two, and build adaptability before changing certainty. Because in global finance areas are defined by how quickly you start, they are rather defined by how continuously you grow in that area.

SPEAKER_00 1:15:54

Right. Amazing, amazing Arendam. And the four phases you just mentioned. And you know, while listening to you, the thought that was coming to my mind is that all our listeners and viewers should actually listen to this podcast again and again and make lots of notes because that will definitely benefit them in their you know future and to build their future, in fact, I would say.

SPEAKER_01 1:16:24

It would be my my happiness and my privilege if they get to some of them get to benefit from this podcast, surely.

SPEAKER_00 1:16:30

No, definitely, definitely. You are sharing so to the point, you know, that knowledge that will, if they're able to implement it, and they should be implementing it because it's all about their own life, their own careers, and they will surely benefit. No doubt about that. I can definitely say that. And finally, see, in a classroom, I would say the most impactful teacher is who is not just teaching the front benches, but the last ones also, right? Because we don't always want to speak to the brightest student or to the topper, but those last ventures sometimes are the ones who are quietly doubting themselves every single day. Right. So if we are able to cater to them, yes, the job well done. So even many commerce students carry this quiet inferiority complex compared to their engineering or MBA peers. And I've seen that, you know, many a times I have seen even today in 2026, parents advising students in when they complete their class 10, take engineering. You'll have more opportunities if you take PCM and study for engineering. So that is uh, I would say it's more like a mindset block. So, what would you say directly to that student listening to us right now? Because he actually struggles to make their pair his parents understand no, I want to choose commerce, that is my way forward. And I don't want to waste my two years studying PCM and then switching to something else.

SPEAKER_01 1:18:18

Absolutely. And again, uh I as I said, I mean, I can't say enough, or now I'm a little confused which is my best question till now. But yeah, it's a very, very realistic situation. And I would first say something that I genuinely believe. Uh please stop underestimating yourself simply because your degree says commerce, if at all you are doing that. Your degree is not your starting point. It is not your is it is just about and definitely not your somewhere along the way, we have created an unfortunate narrative that engineering is more prestigious and NBA is more glamorous, and commerce is somehow a second choice. Now I think that's both unfair and completely disconnected from how businesses actually operate world over. Every successful company, whether it is Apple, Amazon, Tata, Reliance, Microsoft, you know, Infosys, you name it, depend on one fundamental question. How do we create sustainable value? And finance for all of your information sits at the heart of answering that question. Nobody can answer what and how to create a sustainable value better than a finance professional or to begin with, better than a finance student. Without strong financial decision making, even the most innovative technology or brilliant product cannot become a successful business. In fact, some of the world's most influential CEOs and business leaders have finance backgrounds because finance teaches you how organizations allocate capital, measure performance, evaluate risk, and make strategic decisions. Those are leadership capabilities, not just accounting capabilities. So never think that commerce is a lesser foundation. That is the first big mistake that you or many of you would be doing. It's simply a different foundation. Now, having said that, I also want to challenge commerce students. Don't expect the degree alone to define your future. Today's employers aren't hiring you for degrees, they are hiring you for capabilities. If you are a commerce graduate who understands financial analysis, data analytics, AI, business strategy, communication, and can confidently solve business problems, you are competing in a completely different lead. Today's workplace, you will often find engineers learning finance, financial professionals learning technology, mareteers learning analytics, leaders continuously reinventing themselves in their entire career path. The future does not belong to one discipline. Please come out of that mindset of just commerce as one discipline. It rather belongs to people who can integrate multiple disciplines. And that's why I encourage commerce commerce students not to compare themselves with anybody, with whether it is engineers or MBAs or anybody for that fact of matter. Instead, ask yourself a more powerful and relevant question. Question should be what value can I bring that others cannot? What is my competitive advantage? Your understanding of financial performance, business economics, governance, capital allocation, strategic decision making is incredibly valuable to all the employers around the world. Now, combine on these four competencies which you have already built during your commerce studies, maybe during your VCOM days or NCOM days, whatever maybe your level of study, combine them with the current data digital skills like AI literacy, commercial thinking, and global exposure, you will become exceptionally difficult to replace. I have met personally countless high-performing finance leaders over my career. Very few succeeded because of the title of their degree. They succeeded because they developed credibility, curiosity, resilience, and ability to create business impact repeatedly and continuously. So you have to be consistent. Again, I have a love for that word consistency. That has to be your core. One lesson that I've learned over the years is that the market has very little interest in knowing where you have started from. It rewards the value that you have created today. So if you're listening to this podcast as a commerce student and quietly wondering whether you are already behind, let me leave you with this thought. Your competition isn't the engineer sitting next to you in the interview panel. Your competition is the version of yourself that stops learning. So the day you commit to continuous growth, the day you commit to build world-class career skills and focus relentlessly on solving meaningful businesses, problems. Because the competence creates confidence, and confidence earned through capabilities, will always speak louder than any level attached to your degree. So just remember you should continue to be a lifelong learner, continue to ask yourself to become a better version of you every day. That will kind of make a real difference. Thank you.

SPEAKER_00 1:24:47

Arendam, thank you. In fact, full of gratitude for the brilliant answers, and you know, not just for sharing information, but for sharing your perspective. And I'll say, you know, there's a difference. Today's conversation reminds us that the future of finance isn't being written by technology alone, but it's being written by people who are willing to keep learning, keep adopting, and keep thinking beyond traditional boundaries. So to every commerce student listening today, I would say please remember this. Never underestimate your potential because of the stream you chose. Commerce is not a backup option. And finance is not merely about numbers, but it's about understanding businesses, creating value, solving complex problems and influencing decisions that shape organizations and economies. Your degree will introduce you to the profession, but your curiosity and as Arendam said, your willingness to learn, your ability to think globally, your commitment to continuous growth, that will determine how far you go. So don't prepare for the job market of yesterday. Prepare for the opportunities that tomorrow is already creating. So if today's conversation gave you a new perspective, please don't keep it to yourself. Share this episode with a common student, a parent, a teacher, or a young professional who's trying to build a meaningful career in finance. Because sometimes herd at the right time can change the direction of an entire life. And if you would like a personalized guidance in discovering your strengths, choosing the right career pathway or preparing yourself for global opportunities, of course, my team and I at Study Abroad Academy would be delighted to support you. But before we conclude, I would like to ask Arendam. I'm sure many of our listeners would like to learn more about the Institute of Management Accountant and the CMA pathway. So could you please tell them where they can connect with IMA and explore these opportunities further?

unknown 1:27:00

Sure.

SPEAKER_01 1:27:01

So first of all, uh Kapil, thank you for this opportunity. And it has been a wonderful over a little bit more than an hour that we have been discussing. But I love those questions honestly. It only helps me to think through will real life situations with the with with the with my members who are undergoing those kind of things. And just to give you an honest uh advice to the students, which I'm sure that some of them will find interesting and some of them will see helpful. Uh yeah, so so for CMA, what you talked about for IMA, uh it's it's a global opportunity career. Anybody can access IMA curriculum uh from the website, okay, IMA.org, www.ima.org. With respect to the certifications, uh and particularly CMA certifications, it is it is available so anybody can reach out to us, they can write to us. Uh we have our office, physical office is in Bangalore, uh, but it doesn't need anybody to visit Bangalore because we are all on online. So anybody can reach out to the website of IME. There is a toll-free number for India, and anybody can call uh between uh Monday to Friday working hours to get their doubts clarified if they are interested to pursue their careers in CMA, any of the global certifications, because we have multiple ones, uh, not always CNA, but yeah, CMA is the global standard for uh management accountancy. We'll be more than happy to guide them through. So we are just a call away, and uh, we can definitely uh they can access us through websites, and they can also access us through our toll-free number, which they can get on the website also.

SPEAKER_00 1:28:50

Okay, thank you. Thank you once again for joining us. And to all our listeners, I'll be definitely sharing the toll free number and the name of the website in the description also. So you can definitely look at that. And to all my listeners, I'm Kapal Gupta, human potential coach, signing off from the Kapal Gupta Career for Show. And remember, your career is not your destination, it's an expression of your potential. So don't just choose a career, choose the person you want to become. So until next time, keep learning, keep growing, and keep