Career in Chartered Accountancy: A Repository of Opportunities!

If you ever had that stereotypical image of a Chartered Accountant with nerdy looks and rimmed thick frame then think again. Gone are the days when a career in chartered accountancy was just related to a geek rummaging through piles of company's balance sheets. With changing times, the field of chartered accountancy has undergone perennial change. The new century chartered accountant not only interprets a financial statement but also possesses concrete knowledge of finance and related fields. He is smart, tactful and full of dynamism.

Nowadays, chartered accountants are not only responsible for management of risks in a company but are also liable for any future implications and expenses. Since finance is considered to be backbone of a company, a CA is hired to effectively bring into practice his knowledge of funding, costing, financing, structuring and accounting. He is even expected to keep himself updated about the taxation regime and accounting methods.

How to become a CA?

Students willing to make a career in chartered accountancy need to ensure dedication with sincerity. Since chartered accountancy is a rigorous and demanding course, students need to be intensive and thorough in their preparation. Students can start taking CA coaching after 10th class exams, however, they shall be eligible for Common Proficiency Test (CPT) only after 12th grade. They can even pursue Integrated Certificate Professional Course (ICPC) whist taking coaching.

Skills required

First of all, students need to have interest in finance and a love for numbers. Students also need to be attentive individuals with eye for detail. A focused mind coupled with dedication. Good interpretation skills too are a must for a budding chartered accountant.

What does a CA do?

A chartered accountant primarily ensures that an organization's financial transactions comply with the law. He even handles tax related matters of a company. Every single company registered under companies act needs to get its accounts inspected by a practiced chartered accountant. A chartered accountant acts as a Stephanie, something a company can't do without. A Chartered accountant's role in a company is of preparing data while as a practioner, his role is of checking and evaluating the authenticity of the data prepared by a third party.

An Evolving Profession

With passage of time, a CA's role has gone onto become meatier and better. The profession is moving beyond traditional roles. From being just generalists to sound specialists, chartered accountancy domain has seen it all.

Today, career in Chartered Accountancy means serving as a specialist in:

• Service Tax
• International Taxation
• Transfer Pricing
• Information Systems Audit
• Fraud Detection
• Risk Management
• Property related matters
• Investment banking
• Transaction advisory
• US GAAP, ERP, IFRS and WTO representations

CA's also participate in activities like:

• Markets Research
• Budget Planning
• Working Capital Management
• Inventory Control
• Policy Planning
• Securities Consultancy
• Registrar Issues of Securities

Areas to deal with:

A chartered accountant mainly deals with spheres like:

• Accounting
• Auditing
• Cost Accountancy
• Taxation
• Investigation
• Consultancy

Remuneration

Chartered accountancy is amongst those few very well paying professions. Here, one can hope to begin with Rs 30, 000 to Rs 50, 000 on a monthly scale. Depending on the rank of the company, he/she can escalate further. Various renowned companies have been employing CA students aggressively. From PWC to Ernst and Young to KPMG and Deloitte, all have attracted aspirant's time and again.

 Find some of the best colleges for Banking and Finance Here!

Compiled by Priyanka Wali (shiksha.com)