About Chartered Accountant
The CA (Chartered Accountant) is one of the respectful and challenging career fields. CA is a good option for higher education in India. Chartered accountancy was established in 1854 in Britain. It is the core activity of the business. In India, the CA course is conducted by the ICAI (Indian Chartered Accountants Institute). A chartered accountant is the member of ICAI. The membership can be continued through the prescribed fees or yearly payment.
“A chartered accountant deals with the financial management and
carries out the financial audits”.
A chartered accountant works as a private advisor or in the accounts department in an organization. Chartered Accountant plays an important role in case of disputes, bankruptcy, etc. After the completion of this course you can go for the works as auditing, cost accounting, tax management, management accounting, consultancy and financial works in an industry. The CA as the member of ICAI can use the prefix “CA” after his or her name.
Courses & Duration
It takes the 5 years to complete the CA course. By the year 2006, the ICAI has launched the three level of this course.
The FOUNDATION is the entry-level foundation course involves the quantitative aptitude test, general economics, mercantile laws and accounting. The INTERMEDIATE has two groups. It covers the working knowledge of the core subjects. It is specially designed to improve the knowledge of accounting standards. The CA final course covers the advanced knowledge of financial reporting, management accounting, strategic financial management, professional ethics, information systems control and advanced auditing. The students who had cleared their plus two examination can go for the foundation level test conducted by the ICAI. After passing the group 1st, the students have to undergo the on-job training period of 3 years called “Article ship” with an audit or accounts firm. After completion of the article ship, the student can appear the final course. The ITT and Orientation is the 15 days mandatory training course introduced in 2003. Chartered Accountancy subjects, mostly deal with studies such as budget planning, market research, planning of policies, management of working capital of an organization, etc.
Logical & Methodical Approach
Good understanding of the socio-economic environment in which organizations operate
Necessary skills in applying theoretical knowledge to practical situations
Good Verbal & written expression
Ability to deal with different types of people
Eligibility & Admission
The students who had cleared their plus two examination can get the admission in CA course. After the completion of 12th standard, students can take the admission in the CA programme through the FOUNDATION. Interested students can register for the test after passing their 10th examination, though they are supposed to appear for the test after 12th. Students, those pass their graduation with commerce stream, they are required to pass their 12th exam with minimum 50% aggregate marks.
Non-commerce graduate can also apply for the INTERMEDIATE, if they clear their 10+2 examination with at least 55% marks excluding mathematics & 60% marks including mathematics. If he/she becomes passing in INTERMEDIATE, he/she would be enrolled as the member of ICAI.
The career as a Chartered Accountant is an interesting career option for the commerce background students. It plays an important role in the day to day economic life. It is one of the best job oriented courses in India and abroad. After the completion of the course, the candidates need to get the membership and certification by the ICAI. The membership is the subject of annual renew by submitting the 400 Rs as the annual fees. The CA professional cannot work in any other field ones they get the certification by the ICAI. They will have to take the permission from ICAI before doing so.
Since last 4-5 year, the demand of young CA has been increasing. Only India looks for the 7500 to 10000 fresh CAs every year. All industries and organization require the CA for its accounting department. The job prospect of this field is very much brighter. As a CA, you can work in government or public service undertakings as well as the private sector companies. You can also have an option to either be employed with a firm as an employee or you can choose to open your own private practice.
A chartered accountant can also work in various areas of banking, tax management, auditing, financial accounting, cost accounting & consultancy. You can work as a finance advisors, managers or directors of finance & also as financial controllers of the particular companies. They can deal with the matters such as taxation, investigation, audit & consulting with the company.
The top recruiters of the chartered accountant are as the following:
Portfolio Management Companies
Stock Broking Firms
Responsibilities of Chartered Accountant
Budgeting and Budgetary Control
Dealing with Wages & Salaries
Carrying out Internal Audits
Paying Accounts & Sending out Invoices
“Chartered Accountant job is one of the highest paying Jobs in India.” The average Salary of the CA profile is around Rs. 3-6 lakh per annum for fresher depend often the employment firms. It is one of the high paying jobs. A chartered accountant commands the respect in the society and organization. The starting salaries are not much handsome but after the completion of course and having five year experience, the candidate can get the Rs. 30,000 to Rs. 50,000 per month.
About Chartered Accountant