Chartered Accountancy is primarily about accounting, auditing and taxation. A chartered accountant is trained in various aspects of finance and accounting.
What do they do?
A Chartered Accountant helps companies and individuals in tax planning and compliance. Styled as complete business solutions provider, these professionals have to ensure compliance with regulatory requirements, capital structure and planning, organisational development, conducting and preparing feasibility study and project reports, mobilising financial resources, installing internal accounting and budgetary controls, to giving advice on issues such as joint ventures, foreign collaborations, amalgamation, merger, diversification, product pricing, BPO, restructuring etc.
- Very analytical mind
- Quantitative aptitude
- Be driven to continually updating oneself (e.g., as taxes are repealed and new regimes introduced)
- Strategic management skill
- Ability to minutely study and analyse facts and figures
How do I get there?
Following are the steps to becoming a CA:
After passing class X, one can enrol for the Common Proficiency Test (CPT)
Prepare for CPT while studying in Class 11 and 12. Take the CPT after Class 12 in June (or December)
Register for the Integrated Professional Competence Course (IPCC) and 100-hour Information Technology Training (ITT). There must be a gap of ten months between CPT and IPCC, given after you have completed your ITT and a five-day orientation programme
On cracking IPCC, you do the CA Final course and are mandated to undergo a three-year articleship under a practicing CA. Attempt the final examination during the last six months of your articleship. Another short training called General Management and Communication Skills (GMCS) course is required before you apply for a CA membership
More details at the institute website www.icai.org
Typical day in the life of a Chartered Accountant
Pros & Cons about this career
• A profession of trust and it’s challenging to live up to it • You are an essential part of a company • No big investment required. The total investment in the entire programme is Rs. 42,450
• Updating yourself is challenging and requires effort • Though a CA has legal responsibility, in general, the pay is relatively lower than an MBA’s