Career Opportunities in Chartered Accountancy
A Chartered Accountant uses the designation CA. with the growing importance of trade and industry along with the rapid growth of capital and money markets in an economically developing countries has increased the importance of Chartered Accountants. The profession of Chartered Accountancy is the most respectable profession amongst the various others in the commerce field, particularly finance. A career in finance promises a challenging and extremely rewarding professional life.
Chartered Accountancy career can be pursued after 10+2 or graduation.The Institute of Chartered Accountants of India offers CA foundation course to students passing 10+2 in any subject. The duration of the course is one year. Those who want to do the Chartered Accountant course after graduating, they have to take entrance test in 4 subjects (Elements of Accounting, English, Mathematics and General commercial knowledge and Economics.
The Chartered accountant will has to ensure the financial transactions of an organisation are maintained according to the law, they also keep track of cost of management of the company and manage tax matters. Only Legally qualified Chartered Accountants are authorized to audit and certify a company’s books of accounts.
The Chartered accountants has got wide range of work area in both that are suited to the services of Chartered Accounts.
Financial Accounting:
The specialized fianacial charterd accountant has to maintain the financial records of an organisation. It involves operating accounts, interpreting, supervising, controlling and organising income and expenditure, doing internal audits, dealing with wages and salaries, paying accounts and sending out invoices, and coping with taxes etc.
Auditing:
Auditing is one of the important tasks performed by Chartered Accounts.Chartered Accounts examine and verify the books of accounts and other necessary documents of their employers or clients. On satisfaction, they issue a certificate about the company’s financial state.
Cost Accounting:
Cost accounting branch of Charterd accountancy is a complex task usually undertaken for monitoring expenditure, preventing it from over-shooting, minimizing costs, forecasting future needs and providing reports for management accounting etc. It also helps in drawing comparisions, analysing costs and explaining financial information.
Tax Management:
Chartered Accountants specialized in the branch of tax management has the job to legally ensure minimum incidence of tax. They have to cope with taxation laws and policies on national as well as international scale depending on the kind of company they work for. Tax management relates to taxes like income tax but to indirect taxes like sales tax, excise tax, agricultural income tax etc.
A qualified Chartered Accountant has the option of joining the Government Service, Public Sector undertakings or taking up a lucrative assignment in the private sector.