Chartered Accountant

Accounting

Chartered Accountant Information

With the rapid advancement and growth in economy, careers in finance and accounts have gained wonderful and enormous popularity and the most reckoned career option in this file is that of CA (Chartered Accountant). Basically, Chartered accountancy is a very challenging, dynamic and honoring profession. Every country has its own possessed Accountancy Association that regulates the quality and quantity of professionals in this arena. In India, ICAI (Institute of Chartered Accountants) has been formed in the year 1949, with the enactment of Chartered Accountants Act, whose responsibility is to conduct Chartered Accountancy Course.

Who is a Chartered Accountant (CA)?

A Chartered Accountant is the one who specializes in accounting, taxation and auditing. The accountant turns into chartered only after acquiring its membership. He/ She serves as a management and corporate caretaker. In recent era, chartered accountancy has become famous as a profession. The services of Chartered Accountant are required and significant in small businesses as well as money matters. In addition, as per the Company Act, CA is the professional practice that is permitted to be appointed as auditors of companies in India. A person who is accepted as a member of ICAI after having passed the final examination of Chartered Accountancy course carried by the institute is considered as Chartered Accountant (CA).

Courses Available in Chartered Accountancy

The courses proffered in chartered accountancy are like a blend of theoretical education and practical training. The theoretical segment involves the passing of PE-1, PE-2 and final part. Collectively, students are expected to go 2 years six months of practical training and a 15 days course on Communication skills and General management. To appear in the examination, it is significant for the candidates to register their name with Institute of Chartered Accountants of India. Exams were held twice in a year and the minimal amount of period for each level of study is 10 months duration time.

CA as a Career

After attaining the membership of Chartered Accountancy, one can either go for public practice or join any organization at the public or private sector. Thus, accordingly the career options for Chartered Accountant are categorized:

General Practice – According to the Institute of Chartered Accountants (ICAI) of India, standard taxation services and audit will soon be substituted by growing and leading opportunities on relationship based services. Besides this, the Chartered Accountants are needed to measure the risks of companies designing control system to counter those risks.
Change Management – It involves creating changes at the structural, ownership and operational levels.
New Assurance and Performance Measurement Services.
Management Consultancy.
Tax Compliance.
Corporate Finance.
Tax advice and Planning.
Stakeholder Value Creation.
Financial Reporting.
Strategic Management.
Insolvency and Corporate Recovery.
Financial Regulation.
Finance – The expertness of Chartered accountants are highly demanded in financial administration, capital markets and at international levels.

Eligibility Criteria for CA Courses

For PE-1 - A candidate appearing for the 10+2 exam can provisionally register for this exam. The minimum study time period is of 10 months and he/ she is conjectured to get governed after passing the 10+2 exam.
For PE-2 - Candidate needs to pass either the PE-1 or Foundation course to get an eligibility certificate for both the groups from the Board of studies.
For Final - The candidate is required to pass the PE-2 or Intermediate exam. He/ She should also compete the practical training of two and half years, along with acquiring eligibility certificate from the board of Studies.
Eligibility - A candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the CA programme.
Work arena and Job Prospectus – Along with the speedy growth of capital and money markets in economically developing nations like India, the growing importance of trade and industry has increased the importance of Chartered Accountants enormously and tremendously.

Course Details and Examination

Anyone who has a 10 + 2 can enroll for the Professional Education Course I.

Remuneration

Chartered Accountancy is a well paid and reputed professional area.

Chartered Accountant

Accounting