Career in Chartered Accountancy

Tags : CA Job Vacancies, Chartered Accountant Courses, Institute of Chartered Accountants

Career as a Chartered Accountant

Chartered Accountancy is the core of all business, be it big or small. A Chartered Accountant’s work involves auditing, taxation, accounting and financial planning. It can be a very challenging and rewarding job.

Career prospects after doing Chartered Accountancy are exciting. Chartered Accountancy can be the first step to other rewarding careers in finance, investment consultancy and fund management.

The Chartered Accountancy course is conducted by the Institute of Chartered Accountants of India, which has its headquarters in New Delhi, 5 regional offices ( Calcutta, Kanpur, Chennai, Mumbai and New Delhi ) and 81 branches under these regional centres.

Step – by – Step Process in Chartered Accountant Career :

 The qualifications for becoming a CA have changed over the years. Initially – and that was decades ago – one could think of becoming a CA only after finishing graduation and a candidate had to undergo five years of articleship training.

In 1991 – 92, ICAI allowed candidates who had cleared their Plus Two examinations to appear for the Foundation Course of the CA programme. In October 2001, ICAI introduced PE – 1 and PE – 2 system of examinations in place of the Foundation and the Intermediate examinations. However, in 2006, ICAI revamped the system and launched CPT, IPCC and FC.

The unique feature of the chartered accountancy is its curriculum, which is theoretical education with complementary practical training. A student would undergo theoretical education and practical training concurrently from the very beginning. This balanced approach helps the students to appreciate the underlying practical applications of the theoretical education scheme.

Starting Chartered Accountant Career Early :

       In today’s cut throat competitive world, it is advisable that a student starts planning right after class 10. For chartered accountancy, a student can register with the Board of Studies and prepare for entry level test while pursuing 10+2. It is better to take mathematics at this level.

Students of commerce stream definitely have an advantage while pursuing this career. The latest scheme of CA is designed to encourage young talented students having aptitude for accounting education to make an early entry into the profession.

Chartered Accountant Career Eligibility :

It is generally believed that only students of commerce should pursue CA course. However, CA being a very practical course, the students from science and arts streams can equally benefit and make a successful career.

Students of science and arts stream have to make extra efforts in order to understand some complex accounting nuances and have to get basic knowledge of various management topics. But it can be easily concluded that students of science and arts streams can be successful CAs, if they are ready to toil.

Expenses for Learning Chartered Accountancy :

Unlike other professional courses, the fee for becoming a CA is very less, which is inclusive of the cost of study material. For registering with IPPC you have to shell out Rupee 9000 while the fee for CPT is Rupee 6700.

Funding / Scholarship :

There is not much scope for any scholarships while pursuing chartered accountancy.

Chartered Accountant Job Prospects :

On completion of the training, the candidates need to gain membership to the ICAI before they can start practicing as a CA. A member wishing to practice in India or abroad needs to obtain a certificate of practice from the ICAI, the yearly fee of which is Rupee 400.

Once the membership is taken, the practicing member cannot work in any other business or occupation without taking permission from the council; they are only permitted to work in areas as specified in the CA regulations. More information on enrolment or the examinations can be requested from the Institute’s offices or the Headquarters at Indraprastha, New Delhi or the Board of Studies, C1 – Sector 1, Noida – 201 301.

Chartered Accountant Remuneration :

For CA Inter : Generally candidates holding CA inter – qualification are paid somewhere between Rupee 7,500 and 15,000 depending on the type of firm. Payments can be higher for candidates possessing other qualifications such as M.Com or an MBA.

On the other hand starting salaries can be as little as Rupee 4,500 to 5,000 in some small towns of the country. For CA Final (FCA) : Starting salaries range between Rupee 12,000 to 30,000 depending on the type of firm and nature of the economy.
A full fledged CA can expect a salary between Rupee 30,000 to 75,000 after serving a stint of more than 5 years at a top firm.

International Focus on Chartered Accountancy :

The qualification of CA is globally recognized hence industry outlook for CAs is bright indeed. Much recognition for CA degree is due to the fact that the CA course has been able to keep pace with changes in industry scenario.

Several new modules and topics have not only been incorporated into the CA course but have been very effectively implemented to give increasing more power to the CA degree. In spite of the fact that several top-notch B-schools ( including IIMs ) have produced some of the most brilliant B – school grads, it is noteworthy that CAs has been able to retain their prominence in present world order.

Positives / Negatives Aspects of Chartered Accountant Career :

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Different Roles, Different Names for Chartered Accountant :

A Chartered Accountant’s work area has become so wide and involves so many activities that sometimes a CA is perceived as almost an enigma. A CA can start career with auditing activities, which is the basic work area of a CA.

From here a more fulfilling career in finance can be pursed after getting enough exposure of intricacies of finance. As an investment consultant and as a fund manager a CA can play the role of a top decision maker. CAs also work in project management and consultancy services.

Top Companies offering Chartered Accountant Career :

Following are the areas where CAs find an opportunity :

Tips for Getting Hired :

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Career Opportunities in Chartered Accountant