In the fast-growing Indian economy, the finance and financial services associated with the accounts are becoming the center of attraction. For the last few years, the arrival of multinational companies in the country has added to the joy of the job sector. Apart from these, local companies have also been established as a major hub of employment. After economic liberalization it has seen rapid changes. Nearly three years ago the stagnant economic downturn had affected many sectors, but now all the major sectors have come out of the dark shadow of recession. People are getting jobs easily in all major companies. In this, the role of chartered accountant, that is CA, is prominent. The job of a chartered accountant or CA at any institute is highly respectable and challenging. They are responsible for all accounts and finance related work related to that institution or company. Apart from this, their work is also related to providing Money Management, Audit Account Analysis, Taxation and Financial Advice.
The broad scope of CA’s
There was a time when the work area of CA was considered limited to the account, but gradually the conditions are changing and their work area is also increasing and they are providing their services to the management and corporate care taker. Their work mainly deals with accounting, taxation and auditing. Most companies are registered under the Companies Act and they need CA for auditing. Now the smallest institute also holds its CA professionals here.
According to the Company Act only CA can be appointed as an auditor in Indian companies. Looking at the advantage of this, many international companies are stepping up in the field of chartered accountancy. CA is responsible for controlling the economy of the country, auditing the system related to it and certifying it. Banks also make their annual audit with CA. If a loan is given to an institution or a person, then the balance is seen in the seat CA itself. Balance Sheet is also seen in the purchase of shares. The account of the payment of various taxes is also CA’s responsibility.
Outline of fees
The fees outlined in the three examinations of CAs are different. In the CPT, where students have to pay Rs 6700 as prospectus, registration, journal etc., the IPCC has been fixed at Rs 10600 and the final course fees of Rs 12,250. Apart from this, the articleship training fee of Rs 2000, 100 hours of Information Technology Test (ITT) has been fixed at Rs 4000, 35 hours of Orientation Program fees of Rs 3000 and Rs 4000 for GMCs. By combining all the courses and programs, it sits close to 42,450 rupees.
Open sky of possibilities
CA’s work is extremely challenging and respectable. Finance Professionals, Accountants Manager, Financial Business Analyst, Auditing / Internal Auditing, Chairman, Managing Director, CEO, Finance Director, Financial Controller, Chief, among Special Companies, Finance, Accounts and Tax Department in the companies of the country and abroad as its Professionals. Accountants can work on key positions such as Chief Internal Auditor. At the same time, they get employment opportunities in private practice and consultancy.
Most CAs also offer business advice and project planning for corporate houses. Indian professionals are also getting opportunities abroad. Jobs are being created in all government and private banks, public limited companies, auditing companies, financial companies, mutual funds, port folio management company, investment house, stock broking companies, legal firms and houses etc.
Three level courses are available
The Institute of Chartered Accountants of India (ICAI) is the only institution, which offers the CA course and then provides the license. The CA course is completed in three levels, which is low-
1. Common Proficiency Course (CPT)
CPT is the entry level course of CA. It consists of four subjects such as accounting, mercantile law, general economy and quantitative attitudes. It is 200 digits and it is set for two hours. This test is an objective type and given the wrong answer, there is a negative marking provision.
2. Integrated Professional Computing Course (IPCC)
This is a nine-month theoretical based course. It has included topics such as Accounting, Business and Company Law, Ethics and Communication, Cast Accounting and Financial Management, Taxation, Advance Accounting, IT and Strategic Management etc. This examination is completed in two groups and seven papers. After this, admission in the final course of CA.
3. Final Course (FC)
This is the last stage of the CA course. This information is given to students about Financial Reporting, Auditing, Professional Ethics, Taxation, Corporate Law, System Control, Strategic Finance and Advance Management Accountancy. In addition to completing the final course, students have to complete the General Management and Communication Skills (GMCS) course. This examination takes place in two groups and eight papers. Applying for membership in ICAI after passing all the examinations.
it happens.
Sucess story
Home business showed the way to becoming CA
CA Akshath Agarwal, Practician, Lucknow If hard work is the basis of your life, then the path to becoming a CA becomes much easier. There is no shortcut to success in it.
I decided to become CA only after the tenth, because my father had his own business and there used to be one or two CAs. His work impressed me a lot. When I had the opportunity to choose the stream in XII, then I chose the commerce. After doing XII in 2005, I had got registration in BCom and CA foundation course together.
After CA final, for three years in a private company, the articleship After doing GMCs from Hyderabad, I also applied for membership in ICAI. From the beginning I made the idea of practicing private practice. Today I am also happy with my practice. I would like to say to the students coming to this area that they have to keep their mind open in it. Mathematics should have good calculations and the basic of accounting should also be clear. Whatever opportunities the students receive during course and articleships, it is necessary to thoroughly redeem them.
Hardwork is very important in either form of practice or service. It may have been successful for a while but there is no such thing as being disappointed.
Expert View
Noble Profession’s Chartered Accountancy CA Umesh Kumar Garg (Vice Chairman) Central India Region, ICAI
The demands of CA Professionals have always been. Almost all companies need them after a level. There are huge possibilities for students.
How are the Indian markets proved to be helpful for CA?
CA Professional has always been fitting in the Indian landscape. The CA has a very big role in the 2020-30 vision that has been prepared to move the country’s economy towards a developed country’s class. There is a demand of Indian CA not only in India but also abroad. There are 4000 Indian CAs working in Dubai alone.
What are the challenges facing professionals in the course of work?
Well, there is no big problem in this work anywhere. Those small problems are in service line because most CAs do not get a good package initially. Practice line also does not have good income in the beginning, but if you maintain patience then the road ahead becomes easier. Many times, when professionals get a good company, the dream of working abroad is also completed.
Which option is better than practice or job?
It depends on the mind set of professionals. Many times they prefer to work freely rather than bind them in a bond, then practice is excellent for them. But joining with a company, service to the goal of completing the target is a good fit for those who work on the cellar. Searches are immediately available in the service line, but they have to be very patient in practice. Many times people start practicing due to family tradition.
What qualities should be within the professionals to reach the height?
This is a very hardworking field. There is no immediate provision in this Once you succeed in retaining the trust of the client, your contacts will start growing automatically, because sometimes the client in Financial Matters tells CA everything. It is the duty of CA to maintain his trust. It takes time to get started in the beginning. Therefore, try to make your full contribution while holding patience.
According to the demand, how much is the supply of CA?
Nearly 4000-5000 Ca in the country are coming out every six months. If seen, their supply is low due to demand. Gradually, the demand for practice and service line is increasing here. Forcibly CA can not be made in this profession. Those who are qualified will be able to move forward.
Fact file
Major institute
The Institute of Chartered Accountants of India (ICAI) website- www.icai.org
(Head Office is located in New Delhi, it has four Regional Offices in Mumbai, Kolkata, Chennai and Kanpur, while 87 branches in the country and nine chapters in foreign countries are present)
worth
To take admission in its Entry Level Course CPT, the student must have 12th degree degree. It provides information about commerce and maths. After CPT, the IPCC and thereafter admission in FC course. After completing the final course, students are eligible to enroll in ICAI.
Skills
CA Profession is especially for those people who have the hard work capacity with strong will. It is important to be updated with common sense, administrative skills, accounting and ethics, mathematical skills, decision-making ability, current affairs.
Positive / Negative
Growth opportunities
Attractive sale and reputation
The possibility of private practice
Hard work
Responsible and challenging work
Scholarship
There is no special provision of scholarships while doing CA, so students have to bear their full expenses themselves.
Salary of CA in india
Professionals in CA domestic companies get Rs 15,000-20,000 per month at junior level and 30,000-35,000 rupees per month for senior level. On the experience of two to three years, this amount goes around 55,000-60,000 rupees per month. Foreign companies are keeping them on the package of millions. As the experience grows, their cellries are increasing.
Also Read :