CHARTERED ACCOUNTANT

CHARTERED ACCOUNTANT

WHAT’S IT ABOUT ?

Chartered accountancy is primarily about accounting, auditing and taxation. A chartered accountant helps companies and individuals in tax planning and compliance. These professionals’ role play includes capital structure and planning, organizational development, conducting feasibility study and preparing project reports, managing financial resources, installing internal accounting and budgetary controls and  also assisting in important matters like mergers, JVs, FDI, amalgamation, diversification etc

CLOCK WORK

9 am: Record transactions (e.g., process payments to vendors and employees, claims, investments, receipts)

12 pm: Check if all compliances are taken care of. See if the company has paid service tax, excise, etc

1 pm: Lunch (if time permits!!)

2 pm: Preparing budgets and reports as desired by top management

4 pm: Finalize financial statements

7 pm: Leave for home

THE PAYOFF

Salaries offered at the Institute of Chartered Accountants of India’s (ICAI’s) March-April 2009 camplus placements ranged from Rs. 3 lakh a year to over Rs. 9 lakh. The highest pay for an international post was Rs. 23 lakh a year.

SKILLS

  • Highly analytical mind
  • Quantitative aptitude
  • Reading habit to continually update yourself
  • Strategic management ability
  • Ability to get into details without losing the larger perspective
  • Integrity

HOW DO I GET THERE ?

  • ICAI is the only body that awards the CA qualification. After class X, enroll for the common proficiency Test (CPT). Take the CPT after Class XII exams. Clear CPT and Class XII. Register for the Professional competence course, articled training and IT training. Sit for the Professional Competence Exam (IPCC). Undertake the mandatory 3.5-year article ship. After practical training, pass the CA-final exam and finish the GMCS course

INSTITUTES & URLS

  • Institute of Chartered Accountants of India icai.org
  • Under an MoU, Indira Gandhi National Open University offers a special BCom programme in accountancy and finance. Those enrolling for the BCom degree are exempted from certain subjects covered in the CA programme. IGNOU also offers an MCom in finance and taxation to CA Final enrollees

PROS AND CONS

  • Becoming a CA is not a big monetary investment (the tuition and registration fees for all courses is Rs. 19,500)
  • You are in a position of trust and an essential part of the business
  • Updating yourself requires effort
  • In general, the pay is lower than an MBA’s
  • Clearing the finals in one shot is not easy
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