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Day: May 28, 2021

Everything You Need To Know About Forensic Accounting!

Posted on by Imarticus Learning

Forensic Accounting refers to the application of financial skills to resolve disputes of fraud and misconduct of finances in business. It is an integration of accounting, investigation, and auditing with a sound knowledge of business and legal systems. The scope of Forensic Accounting includes:

  1. Designing an accounting process for the verification of data.
  2. Looking for an unusual development in accounts for any possible frauds.
  3. Continuous surveillance of transactions of a variety of businesses.
  4. Performing a routine schedule of audit processing.

Need for Forensic Accounting

These days almost no domain is left untouched by frauds, dishonesty, corruption, money laundering, etc. Forensic Accounting is a field that checks all these activities.

Criminal Investigation: Forensic Accountants prepare detailed reports of financial implications in case of fraud. It helps the police and the investigating authorities in examining the case in detail.
Financial Analysis course with placement in Iindia
Dispute Settlement: Forensic Accounting professionals help resolve disputes in business communities. They settle intellectual property infringements, liability claims, etc.

Professional Negligence: In the case of employee negligence leading to non-compliance with auditing and accounting standards, Forensic Accountants examine the loss through quantification.

Detection of Fraud: Forensic Accountants detect fraud by tracing the papers and other activities of the employees of the company. They tactfully devise strategies to find out the truth.

Forensic Accountants – Skills and Qualifications

Forensic Accountants are very important professionals for every organization. From public to private, every entity needs to ensure that they comply with the governance codes and establish transparency in their systems. Forensic Accountants help in this cause by maintaining fair accounting and detecting any misconduct.

Due to the nature of their tasks, Forensic Accountants can find employment in Banks, Multinational corporations, Police forces, Freelance, Insurance companies, and even government agencies, etc.

To be a Forensic Accountant, one needs to do a bachelor’s or master’s degree in Accountancy. A diploma in banking and finance can also provide the necessary qualification required to build a substantial career in this field.

Financial Analysis course with placement in IndiaCommerce graduates can also pursue a career in Forensic Accounting with a financial accounting course.

A Chartered Accountant with experience in accounting and auditing also makes for an eligible candidate for a Forensic Accountant.

To become successful in the Finance career, one should first work under an expert Forensic Accountant as it will provide them with insights about this career. The necessary skills required for the role of Forensic Accountant are:

  • Analytical aptitude
  • Attention to details
  • Communication skills
  • Persistence
  • A knack for finding loopholes
  • Compliance with ethical code of conduct, etc.

Forensic Accounting in India

As India is a country where monetary frauds and scams are common in business organizations, RBI has made Forensic Accounting audits mandatory for all banks. A Serious Fraud Investigation Office (SFIO) has been established which has boosted the growth of this sector and enhanced job opportunities. With the growing online frauds and cyber-security breaches, the demand for Forensic Accounting professionals is increasing.

The income in this field is also quite lucrative. The average salary of Forensic Accounting professionals is around INR 984,533 according to payscale.com.

One can find jobs in this sector through related titles like Fraud Analyst, Risk Analyst, Fraud Investigator, Anti-Money Laundry Analyst apart from the usual Forensic Accountant title. The salary incentives grow with the number of years of experience in this field.

Conclusion

Given the present scenario of financial irregularities in the country, Forensic Accounting has a very bright future. Also, the lack of qualified and experienced Forensic Accountants in India makes this a very valuable career for students to pursue.

Related Article:

https://imarticus.org/what-is-a-financial-analyst-course/

What is The Language Used To Make Artificial Intelligence Programs?

Posted on by Imarticus Learning

A.I. or Artificial Intelligence is considered to be the next big thing in the science community. Many people are worried about its lousy use; many have raised the fear of Skynet in the actual world through the artificial intelligence programs. Well, dangerous or not, when it comes to being in the league of new technology, big MNCs don’t like to fall back.

Having said that it is clear that people who have done big data and machine learning courses are the ones who are getting selected in big MNCs. While learning these courses, the main question that arises is: in which programming language are these Artificial Intelligence programs written? The answer is more than one. Let us list out the big guns of the artificial intelligence industries –

  • Python: Since its discovery, Python has gained significance as a popular programming language. Many artificial intelligence programs are written in this programming language. Python is liked among the personnel working in the artificial intelligence field due to its syntax simplicity and versatility. It is easier to learn than C, C++, Java, etc. It is more dynamic and supports neural networks, which makes it easier to develop NLP solutions in an ideal structure.
  • C++: C++ may be a little bit complex than Python, but it is one of the fastest programming languages out there. As artificial intelligence programs are vast numbers of lines of codes, the fast processing speed of C++ gives it an edge over the others. C++ allows the use of humongous algorithms while presenting statistical data. C++ is considered to one of the most suitable programming languages to learn for writing artificial intelligence programs.Investment Banking
  • Java: Java is popular among the programmers because of its ability to be a multi-paradigm programming language. The two main principles followed by Java are object-oriented programming and WORA principle. WORA or Written Once Read/Run Anywhere makes it possible to run Java programs over any system without recompiling it. It is best suited for Neural network and heavy-weight artificial intelligence programs.
  • LISP: LISP is not only a single programming language, but it is a family of programming language. It belongs to the category of the oldest programming languages in the market after FORTRAN. Although old LISP has evolved as the time passed to become one of the most influential programming languages used in artificial intelligence programs, it is favored0 in the account of the freedom it offers to the developers. LISP possesses an exceptional macro system which eases the work of implementation and investigation of specific intellectual intelligence programs.
  • PROLOG: PROLOG is the next oldest programming language in this list. It earned this position due to its underlying mechanisms which come in handy for various artificial intelligence programs. For example, PROLOG’s basic mechanisms include pattern matching, tree-based data structuring, automatic backtracking which are crucial for artificial intelligence programs.
  • Its mechanisms enable a flexible framework which is liked by the programmers. It is also known as a rule-based declarative programming language as its processing is done based on specific rules and elements which lay the very ground of artificial intelligence programs. PROLOG is one of the primary programming languages for artificial intelligence programs. It is used in some artificial intelligence enabled medical systems also.

So these were the first programming languages used in the industry to write artificial intelligence programs. These languages can be learned from various big data and machine learning courses. Organizations like Imarticus Learning are doing an excellent job in equipping people with the knowledge of these programming languages by their A-listed courses.

Top 7 Reasons to Convince You To Take on that Data Analytics Job

Posted on by Imarticus Learning

 

It’s more than just a buzzword, it’s a revolution– data analytics is here and here to stay. For four years in a row, data analytics was ranked the best job in the U.S. alone by Glassdoor in 2019. The data fever is catching on in other parts of the world too, as global economies become more interdependent and related.

More and more companies and industries are embracing data analytics, not least because it’s a science that delivers valuable insights applicable across all plans including business and marketing.

If you’re still hesitating about whether to go for a career in data analytics, allow these top 7 reasons to convince you:

#1: It’s in demand

Data analytics is one of the most in-demand jobs in the world today. This is because all industries need data-driven insights to make even changes, be it to pick a marketing option during A/B testing or rolling out new products. Data analytics is a high-skills, high-stakes job, which is why companies are ready to hire those willing to think creatively and derive data-based solutions to business problems.

#2: It’s easy to start

Educational institutions and course providers have sat up and taken notice of the demand for data analysts, leading them to introduce related training courses. Regardless of whether you’re a fresher or a professional in the tech field, data analytics training can help you start from scratch and build a portfolio of projects to showcase your skills These courses also provide tutorials in essential data analytics software such as Hadoop, Sisense and IBM Watson.

#3: There are plenty of job roles

Within the data analytics field, there are job roles that span academic divisions and aren’t restricted to engineering or software alone. Data scientists, systems analysts and data engineers will benefit from a background in the aforementioned academic fields. However, statisticians and digital marketing executives can look into roles such as quantitative analysts, data analytics consultants and digital marketing managers to put their skills to good use.

#4: The pay is good

The average salary in the data analytics field is US$122,000– a testament to how in-demand the profession is and how in dire need companies are of skilled employees. The figures vary depending on the role and job description but suffice to say that the pay is often much better than other technical jobs that people still seem to hover to by default. It’s also dependent on what industry you will work for, in what capacity and towards which goals.

#5: Growth opportunities abound

Technology is a dynamic field and with new changes come the chance to upskill, pick up new software and contribute to futuristic projects. Data analytics professionals can find themselves growing through roles and projects, oftentimes being tasked to lead a team or be the sole owner of a large-scale project.

#6: Industries are interwoven

With other tech fields, you might be restricted in your tasks or limited to a company. In data analytics, however, you get to pick and choose the fields you want, whether pure tech or even retail. Data analytics is in use across most industries so, once you find your niche, you’re ready to start dabbling in the industry of your choice.

#7: Influences decision-making

If you’ve ever wanted to be part of the larger organizational or business structure and contribute positively, chances are data analytics might be the niche for you. The insights that emerge from analyses of data can power strategies and create new business plans. This way, your contribution leads to progress on an organizational scale and your work can make or break a business.

Data analytics gives you the opportunity to become a more active stakeholder and contributor to any business regardless of the industry, so take the leap today.

Top R programming, SQL and Tableau Interview Questions & Answers!

Posted on by Imarticus Learning

Whether you are a fresher or an experienced data professional looking for better opportunities, attending an interview is inevitably the first step towards your dream career. Many of you might already have done a sneak peek into the world of data analytics through self-taught skills.

Data Science Course with Placement in IndiaHaving a good grip on the subject matter will give you an edge over other candidates. Data Science Courses and certifications add more weightage to your profile.

Interviewers might ask situation-based questions to test your knowledge and crisis management skills. So, make sure that you answer these questions wisely and showcase your knowledge wherever possible, without going overboard.

Listed below are some important R programming, SQL, and Tableau interview questions and answers. Check them out!

R Programming Interview Questions

A handy programming language used in data science, R finds application in various use cases from statistical analysis to predictive modeling, data visualization, and data manipulation. Many big names such as Facebook, Twitter, and Google use R to process the huge amount of data they collect.

  1. Which are the R packages used for data imputation?

Answer: Missing data could be a challenging problem to deal with. In such cases, you can impute the lost values with plausible values. imputeR, Amelia, Hmisc, missForest, MICE, and Mi are the data imputation packages used by R.

  1. Define clustering? Explain how hierarchical clustering is different from K-means clustering?

Cluster, just like the literal meaning of the word, is a group of similar objects. During the process, the abstract objects are classified into ‘classes’ based on their similarities. The center of a cluster is called a centroid, which could be either a real location or an imaginary one. K denotes the number of centroids needed in a data set.

While performing data mining, k selects random centroids and then optimizes the positions through iterative calculations. The optimization process stops when the desired number of repetitive calculations have been taken place or when the centroids stabilize after successful clustering.

The hierarchical clustering starts by considering every single observation in the data as a cluster. Then it works to discover two closely placed clusters and merges them. This process continues until all the clusters merge to form just a single cluster. Eventually, it gives a dendrogram that denotes the hierarchical connection between the clusters.

SQL Interview Questions

SQL online Training

If you have completed your SQL training, the following questions would give you a taste of the technical questions you may face during the interview.

  1. Point out the difference between MySQL and SQL?

Answer: Standard Query Language (SQL) is an English-based query language, while MySQL is used for database management.

  1. What is DBMS and How many types of DBMS are there?

Answer: DBMS or the Database Management System is a software set that interacts with the user and the database to analyze the available data. Thus, it allows the user to access the data presented in different forms – image, string, or numbers – modify them, retrieve them and even delete them.

There are two types of DBMS:

  • Relational: The data placed in some relations (tables).
  • Non-Relational: Random data that are not placed in any kind of relations or attributes.

 Tableau Interview Questions

Tableau is becoming popular among the leading business houses. If you have just completed your Tableau training, then the interview questions listed below could be good examples.

  1. Briefly explain Tableau.

Answer: Tableau is a business intelligence software that connects the user to the respective data. It also helps develop and visualize interactive dashboards and facilitates dashboard sharing.

  1. How is Tableau different from the traditional BI tools?

Answer: Traditional BI tools work on an old data architecture, which is supported by complex technologies. Additionally, they do not support in-memory, multi-core, and multi-thread computing. Tableau is fast and dynamic and is supported by advanced technology. It supports in-memory computing.

  1. What are Measures and Dimensions in Tableau?

Answer: ‘Measures’ denote the measurable values of data. These values are stores in specific tables and each dimension is associated with a specific key. This helps to associate one piece of data to multiple keys, allowing easy interpretation and organization of the data. For instance, the data related to sales can be linked to multiple keys such as customer, sales promotion, events, or a sold item.

Dimensions are the attributes that define the characteristics of data. For instance, a dimension table with a product key reference can be associated with different attributes such as product name, color, size, description, etc.

The questions given above are some examples to help you get a feel of the technical questions generally asked during the interviews. Keep them as a reference and prepare with more technically inclined questions.

Remember, your attitude and body language play an important role in making the right impression. So, prepare, and be confident. Most importantly, structure your answers in a way that they demonstrate your knowledge of the subject matter.

Related Article:

https://imarticus.org/20-latest-data-science-jobs-for-freshers/

A Quick FAQ to the CFA Charter

Posted on by Imarticus Learning

No doubt you have heard of the Fun Facts You Didn’t Know about the CFA Exam Chartered Financial Analyst Program (CFA), the most globally recognized and respected investment management credential in the world. In this blog we answer some questions regarding what it costs, if you’re eligible, and how much time you need to put aside to give it a good shot.
What is the CFA?

The CFA is a credential as well as a passport to the largest club of investment professionals in the world. Being a charter member means many regulatory agencies will offer waiver from licensing exams, graduate programs give you a waiver of the GMAT and many financial and investment-related certification organizations grant waivers from qualifying exams or continuing education requirements.
Because the CFA curriculum is incorporated into more than 300 business schools around the world, you are essentially learning what is taught in some of the best schools in the world. And the charter is often a prerequisite to many prestigious jobs in Investment Management.
How does one become a CFA Charter Holder?
Here’s the thing. It’s not just the passing of an exam. You cannot actually call yourself a CFA without being a CFA Charter Holder. The CFA requires you to do 4 things before you can become a CFA charter holder.

  • You need to agree to follow the CFA Institute Code of Ethics and Standards of Professional Conduct. This is why Ethics and Professional Standards comprise 15 percent of the Level 1 exam.
  • Pass the CFA Program exams for Levels I, II, and III. Watch this space for in depth posts on Level 1, Level 2 and Level 3 exams.
  • Have four years of qualified work experience in investment decision-making. This means having 48 months of experience in Investment Management that can be accrued either before, during or after the exam. The work experience is not a pre-requisite for the exam itself.
  • Become a regular member of CFA Institute and apply for membership in a CFA member society. Watch this space on a dedicated post to becoming a member of the CFA Institute.

What Jobs does it prepare you for?
Where do people land up after they do the CFA? Well here’s the break up. A majority of them go into Investment Management, which is what the course is geared towards. 23 percent become portfolio managers, 16 percent become Research Analysts, while the rest are distributed almost equally across Risk Management, C level positions, consultants, corporate financial analysts and financial advisory.
How many levels do I need to pass to get the CFA?
There are three levels and exams are held annually, biannual for Level 1.

  • Level I tests your knowledge of the ethical and professional standards and the exams consists of basic knowledge and comprehension questions focused on investment tools; some questions will require analysis.
  • Level II tests how you apply those standards to situations analysts face and emphasizes more complex analysis, along with a focus on valuing assets.
  • Level III tests how you apply the standards in a portfolio management and compliance context and require synthesis of all the concepts and analytical methods in a variety of applications for effective portfolio management and wealth planning.

All exams are in English and are held in June. Level 1 is also held in December. Check the CFA website for exact dates.
How much does it cost?
There is a one-time enrollment fee of $450 with a two-day refund policy.
If you want to register for the December Level 1 exam, you will pay a standard fee of $860 dollars if you register by 17th August and $1260 if you register by 14th September. If you plan to do it next year, then you can pay $650 if you register early.
In total, the three levels including one-time enrollment fee works out to $2400 if you register early every time, $3030 if you register normally.
Post passing all three levels, becoming a member of the CFA charter (required for you to actually use the CFA designation) will require you to pay $275 annually to the CFA institute and your local charter.