Chart your path to a stable and lucrative career | Nagpur News
The qualifying process is grueling, but once you get in, accounting provides professional and financial security
Chartered accountancy is one of the most popular career options in the country. Getting into this profession is difficult, but if one can make it, it offers a great career, high salary and respect from society. People respect Chartered Accountants (CAs) not because of their salary or benefits, but mostly because it’s not easy to become one.
The high salaries and recognition associated with the profession are magnetic to many. If you are comfortable with numbers and have strong analytical skills, you might be interested in becoming a CA. Getting accurate and valid information about this field is the first step in building a career here.
As a CA, you can perform various operations, depending on your abilities and experience. Accounting is one of your tasks, ranging from simple bookkeeping to complex financial analysis. You can also do auditing, which is one of the most valuable services you offer, given your expertise in the matter.
The path you take to become a CA will depend on the decisions you make during your training. The first step after passing your upper secondary exams is to critically analyze yourself.
Assess your math and economics skills, as well as your passion for the hard work required to become a CA certified by the Institute of Chartered Accountants of India (ICAI). This is important, since mathematics is a key component of public accounting.
After passing Std XII, CA aspirants must qualify for a three-stage exam – CA Foundation, Intermediate, and Final exam – after which they can apply for ICAI certification.
There is no ambiguity in career prospects. This line of work offers a reliable position with steady progress and a competitive salary. You have to keep reading and learning to keep abreast of the latest developments in finance. In addition, there are deadlines that must be met at the end of each fiscal year.
Communication, business savvy, perseverance, self-motivation, and an analytical attitude are some of the traits that could help you stand out in an interview and land your ideal job.
Zoya Jiwani, a CA working with Jiwanis Consultancy, said the profession has no booking policy, so everyone has a fair chance. “Therefore, for a general candidate, CA is a better option than UPSC,” she said.
Jiwani added, “It is one of the toughest courses in India with an extensive curriculum, but if they are willing to work hard and smart, even academically average students can pass it on the first try.”
Reporting by Pankaj Kamane
You can work as
Accountant, Auditor, Business Advisor, Management Consultant, Secretary, Strategist, Financial Reporter, Frontline Manager, Director, Executor and Trustee
You can work in
Business and industry, CA firms, consulting firms, capital market services, financial institutions and independent practice
| Vipul Vora
Opportunities galore after passing the exams
When talking about the most reputable professions in commerce, public accounting is the first that comes to mind for seven decades. A very dynamic course, but at the same time financially viable.
Chartered Accountancy is a course offered by the ICAI which can be taken after passing the Std X exams. The entrance exam known as the CA Foundation can only be attempted after passing the Std XII exams.
The second exam, known as the CA Intermediate, can be given one year after CA Foundation. After students pass the Intermediate CA Exam, they complete three years of hands-on training with a practicing CA or CA firm. In the last six months of this training, the student becomes eligible for the last exam, known as CA Final.
Once you are qualified as a CA, there are two main avenues: start your own practice and consulting, or start with a job. Both avenues have plenty of opportunities for professional development.
Options include auditing, tax consulting (income tax and GST), project finance, project reporting, internal audit, forensic accounting, transfer pricing, accounting standards compliance, and more. An Indian CA is recognized worldwide and can also practice in different continents after passing the local exams.
The author is managing director of the VPA Academy
The professionals speak
For a long time, the profession was synonymous with auditing and taxation, but not anymore. In addition to imparting knowledge on topics such as financial management, CAs now contribute to areas as diverse as information technology, policy framework, international business and wealth management. Whether it’s helping a small business in your neighborhood or formulating a strategy on international trade, the choice is yours, aspirants. Sky is the limit.
Parag Paranjpe | Think Finserv
Accountancy is a noble profession. After becoming a CA, you get a lot of respect. The value of the CA prefix can only be understood by those traversing this journey. It is one of the most prestigious and rewarding career opportunities
Rohan Daliya | Ernest and Young
With the advancement of the Indian economy, the scope of the profession is expanding. Starting your own practice is a difficult task, given the long gestation period. There are various lucrative job opportunities in large and medium CA firms, banks, big corporations, multinationals and government departments. The ICAI has entered into a Memorandum of Understanding with accounting bodies around the world, which creates global opportunities for CAs. Although difficult, it is one of the most coveted and sought after professions in the world