Do you wish to become a Chartered Accountant? Do you want to know about the scope of this field? Are you searching for information on eligibility and job profile of a Chartered Accountant? If your answer is yes, then you must read on! Here we will provide you with all the essential information you may require to understand about Chartered Accountancy as a career option.
Job Profile of Chartered Accountant (CA): What they Do?
The basic role of a chartered accountant is to offer economic advice to his or her clients which may be individuals or organizations. This advice is very strategic and significant as it aims to maximize the profit of the client, counter risk and minimize losses. A chartered Accountant advice is also required by the client on matters of their future endeavors and liquidation of a company. They perform a variety of roles required to handle the finance of their client. A Chartered Accountant may specialize in a particular field of
interest which can vary from management consultancy, audit, taxation, recovery, forensic accountancy, corporate finance to assurance.
So, here is the job profile of a Chartered Accountant which typically includes the enlisted responsibilities and duties:
- They are actively involved in liaising with the clients, internal as well as external auditors.
- They have to perform the tasks connected to auditing finance related information.
- They are also responsible for managing financial irregularities.
- They play a pivotal role in controlling the expenses and income.
- They are also responsible for administering payrolls.
- They have to calculate the accounts and tax returns.
- They are responsible for handling insolvency cases.
- They also offer tax planning services to their clients in accordance with the present legislation.
- They will have to prepare the business plans and budget of the client as per their needs, requirement, financial strength, etc.
- They have to compile financial statements and commentaries for their client as well.
- They dedicate time in analyzing and evaluating accounts and business plans.
- They have to prepare and present all finance related reports.
- They also have to prepare and present monthly and annual financial statements.
- They are actively involved in doing risk analysis and financial forecasting for the client, too.
- They are also involved in negotiations with the vendors/ suppliers.
Careers Scope of CAs (Chartered Accountants)
The job opportunities in this career field are immense. If you wish to become a Chartered Accountant, you will find job prospects are high in the public sector, government bodies, charitable organizations, corporate and commercial organizations, industrial organizations, organizations offering professional services as well as with provide firms. A Chartered Accountant may even choose to work independently. To understand the job of a Chartered Accountant, it is important for you to understand the work and tasks they are supposed to perform and handle.
Education Qualification and requirements to become a CA (Chartered Accountant)
If you wish to make a career as a Chartered Accountant, you need specialized education and training in the field. Chartered Accountant course is two years long excluding training. To complete the course of Chartered accountancy, the steps of development includes the Competency Professional Test (CPT) followed by Professional Competency Examination (PCE) and eventually the Final Exam. There are many chartered accountancy colleges in India and the process of admission and course is as above.. Prior experience in the field gained by doing internships or by having worked with some company may add to your advantage. There are so many educational institutes that offer degree courses, diploma courses and workshops in the field. The job of a Chartered Accountant is quite high paying. However, the pay package you receive may depend on a number of factors, such as your education, skill set, training, relevant work experience, the company offering you the job, the sector in which you will be working, region, whether your job is free-lance or full time, etc. Apart from the necessary education, training and experience, a Chartered Accountant must also have certain key skills. These skills include:
- They must be excellent at numeracy.
- They should have brilliant problem solving skills.
- They should follow a methodological approach.
- They must have great logical and analytical skills.
- They should have an eye for detail.
- They must have high proficiency in IT.
- They should have good communication and interpersonal skills.
- They should have the ability to work in a team.
- They must have the ability to perform deadline oriented tasks with efficiency.
- They should carry great organizational and managerial skills.
- They must have interest and acumen in the field of finance and business.
Now you know all things about Chartered Accountant careers, so best of Luck for your future.