CA (Chartered Accountant) Career Course Eligibility Scope SalaryChartered accountants offer financial advice, audit accounts and provide trustworthy information about financial records. This might involve financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery and insolvency, or accounting systems and processes.
Generally, they play a strategic role by providing professional advice, aiming to maximise profitability on behalf of their client or employer.
They work in many different settings including public practice firms and industry and commerce, as well as in the not-for-profit and public sectors.
In public practice firms, chartered accountants provide professional services to fee-paying clients who might be private individuals or large commercial or public sector organisations.
In commerce, industry and the not-for-profit and public sectors, they may work in treasury management, procurement, financial management or in reporting roles.
Responsibilities of CA
The role of a chartered accountant covers many aspects of finance work, including:
- continuous management of financial systems and budgets;
- undertaking financial audits (an independent check of an organisation's financial position);
- providing financial advice.
In public practice, tasks carried out by a chartered accountant include:
- providing financial information and advice;
- reviewing the company's systems and analysing risk;
- performing tests to check financial information and systems;
- advising clients on tax planning (within current legislation to enable them to minimise their tax liability) and tax issues associated with activities such as business acquisitions and mergers;
- maintaining accounting records and preparing accounts and management information for small businesses (accountancy);
- advising clients on business transactions, such as mergers and acquisitions (corporate finance);
- counselling clients on areas of business improvement, or dealing with insolvency;
- detecting and preventing fraud (forensic accounting);
- managing junior colleagues.
In commerce and industry and the public and not-for-profit sectors, work involves:
- liaising with internal and external auditors and dealing with any financial irregularities as they arise;
- producing reports and recommendations following internal audits or public-sector audits;
- preparing financial statements, including monthly and annual accounts;
- arranging financial management reports, including financial planning and forecasting;
- advising on tax and treasury issues;
- negotiating terms with suppliers.
Skills Of CA (Chartered Accountant)You will need to show:
- general business interest and awareness;
- self-motivation and commitment, in order to combine study while working;
- communication and interpersonal skills;
- organisational and time management skills;
- a methodical approach;
- IT proficiency;
- strong analytical and problem-solving skills;
- leadership qualities and effective teamworking skills;
- motivation and initiative;
- integrity and trustworthiness.
Qualifications Required for CA (Chartered Accountant)
The Chartered Accountancy Course and Profession in India is regulated by The Institute of Chartered Accountants of India (ICAI), New Delhi.
1) Common Proficiency Test (CPT)
2) Integrated Professional Competence Course (IPCC)/IPCE
3) Three years Articleship / Training under a Practicing C.A
4) C. A. Final
It is very helpful to have relevant pre-entry work experience, such as vacation work, work placements or shadowing.
Salary of CA (Chartered Accountant)
Companies offers a high value to chartered accountants for the service they provide. There is no fixed salary. It depends on the type of organization and the type of service they rendered.