Chartered Accountancy, a globally respected qualification is one of the most sought after profession among students with a commerce background and having a natural inclination towards finance, accountancy or numbers. Chartered Accountants are professionally-qualified advisors who are responsible for auditing the financial statements of a business organization and the practices of business.Employers across leading multinationals and fast-growing enterprises, government and local bodies recognize Chartered Accountants for their knowledge, skills and expertise in commercial thinking. A career as a Chartered Accountant equips you with the perfect blend of learned principles and practical application. A course in Chartered Accountancy offers a student a variety of exciting careers in the specialized areas of Accounting, Auditing, Corporate Finance, Corporate Laws, Taxation and Forensic accounting. Chartered Accountants can work across industries including public, private or government while there has also been an increasing number of CAs who prefer to set up their own practice. Often required to perform a variety of tasks, as a Chartered Accountant you can truly make a difference and work in some of the most influential organizations and leapfrog your career both in terms of progression and earning power.Some of the job duties and responsibilities borne by CAs are:
- Prepare financial documents of an organization through careful monitoring and tracking of the business practices
- They are responsible for financial forecasting and determine how financial transactions will affect the business entity
- They need to handle matters related to taxes and financial reports
- They are responsible for tracking financial earnings and losses of a firm and review them
- CAs prepare financial audits and budgets of the firm
- They also conduct regular meetings with the top management and offer financial advice and investment strategies.
Salaries and Job Outlook*
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In a world of growing economy there is a huge demand for qualified Chartered Accountants across sectors and industries. To substantiate this, ICAI (The Institute of Chartered Accountants of India) has set up campus placements for newly qualified CAs across 15 centers in Feb - March 2014 where more than 700 jobs were offered, while many other qualified accountants have found jobs through direct recruitment. The strong hiring is a definite indication for the bright job prospects of certified Chartered accountants.As per ICAI the highest Chartered Accountant salary for an international posting went up to INR 20.25 lacs p.a and the minimum salary offered was INR 3.0 lacs p.a
Education and Training
CA involves a combination of academic and professional training and students may opt to get trained either in industries such as banks, financial services, manufacturing etc. or in traditional accountancy practices. Such training environments expose one to real - life situations and help develop broad business skills.
Valued Traits & Abilities
Chartered accountants can take up a broad spectrum of roles in a range of businesses, small, medium and large from Chief Executives, Financial Controllers, Finance managers, Advisors to Finance directors. Any company registered under Companies Act is required to hire a CA to audit their accounts. Hence opportunities are numerous and diverse depending upon ones' personal strengths and potential. In addition to the employment opportunities in public, private and government sectors a CAs can also set up their own consultancy or private practice which could be more lucrative and satisfying.
They prepare corporate and personal income tax statements and formulate tax strategies for clients and organizations. This also involves tax assessments, filing returns and providing advice on indirect taxes.
They typically work in companies and are involved in cost analysis, new contracts etc with the aim to control the organization's expenses.
Prepare financial statements and participate on financial decisions involving mergers and acquisitions, benefits planning and long-term financial projections.
Check accounting ledgers and financial statements within corporate and government. Audit work today is computerized and depends on sophisticated random sampling methods.
Other Job Titles
Chartered Accountants also act as directors, arbitrators for settling disputes, handling work related to insolvency, bankruptcy etc. They may find work opportunities in Market research, Budget Planning, Inventory control and Policy planning under Government bodies.
- Barclays Shared Service private limited
- Bharti Airtel
- Bosch Limited
- Credit Suisse Services India Pvt. Ltd
- Hero MotoCorp Ltd
- Axis Risk Consulting