Introduction:
The quick growth in
economy, careers in accounts have grow remarkable popularity and the most
prestigious career option in this field is that of “Chartered Accountant”. Chartered Accountancy is a vibrant, tricky
and worthwhile career. All the nations world wide have their own Accounting
Association which regulates the eminence and capacity of the professionals in
this field. Chartered
Accountancy Course is a
professional course in Accounting introduced in India in 1949, with the endorsement
of the Chartered Accountants Act. The Institute of Chartered Accountants of
India (ICAI) was formed the identical year. This Institute is both an examining
and a licensing body of Chartered Accountants in India. It is the accountability
of the organization to conduct the Chartered accountancy CA route. The course
engages a blend of theoretical & practical education & training which
run concurrently for a period of three years and equips a student with
knowledge, ability, skills and other qualities required of a professional
accountant.
Chartered accountant is one
who is specialised in accounting, auditing and taxation. He also serves as a management
and corporate caretaker. In recent times, accountancy has become popular
as a profession. The services of a CA is required in money matters even in a
small business . Moreover according to the Company Act only CA's in
professional practice are allowed to be appointed as auditors of companies
in India. A chartered accountant is a person who is accepted as a member of the
Institute of Chartered Accountants of India (ICAI) after having passed
the Final examination of the Chartered accountancy course conducted by the
institute.
Many multinational
companies have come forward in the Chartered Accountancy field. ICICI
Prudential, Om Kotak Mahindra, Birla Sun-Life, Tata AIF Life, Reliance, HDFC
Standard Life-Charterd Accountancy Co., Max New York Life, SBI Life Chartered
Accountancy, ING Vysya Life etc. are the top companies in the private sector.
In non-life Chartered Accountancy segment, major private players are ICICI
Lombard, Royal Sundaram, Cholamandalam, IFFCO Tokyo, Tata AIG etc. All
Chartered Accountancy companies come under the Chartered Accountancy Regulatory
and Development Authority (IRDA) which is established to regulate, promote and
ensure orderly growth of Life and General Chartered Accountancy industry in
India.
CA programme is a
professional course which has three sections namely, Common Proficiency Test
(CPT); Integrated Professional Competence Course (IPCC) and Final Course. The
registration for CPT and IPCC is open throughout the year. A student may
register at any time during the year. However, as the examinations will be held
twice a year in May and November, it is necessary that a student must register
at least ten months before the examinations. After passing the Integrated
Professional Competence Course (IPCC) candidates are eligible for registration
as articled clerks/ audit clerks for practical training. Computer Training
Programme, ie 100 hours Information Technology is compulsory for the candidates
who wish to register themselves as auditor clerk. Students can undergo this
programme while pursuing CPT or IPCC.
Articled clerk is a trainee attached to a
practicing chartered accountant under a Deed of Articles for the duration three
years. During this period the articled clerk will also need to continue studies
for the CA exam. An audit clerk is a person who has served as a salaried
employee for a minimum period of one year under a practicing chartered
accountant. During the training period, candidates would be required to work in
different areas learning the basics of auditing and taxation . This training
enables them to learn the technical details of the job as well as to get an
idea of the working environment of the profession.
The scope for this lucrative career is bright
in an economically developing nation like ours and as such the career can be
termed as challenging and rewarding for competent professionals in the field.
Chartered
accountants exposures:
Opportunities for Accountants with CA qualification:
Now a day’s chartered accountants boom on
challenge. Their knowledge are flexible, creative, shows imitativeness, have
excellent people skills and work centre stage to help businesses EXCELLENCE
performance. The ACA qualification, offered by the ICAEW, is an internationally
recognised premier financial business qualification and training as an
Associate Chartered Accountant (ACA). It opens the door to wide range of exhilarating
opportunities in all sectors of business as well as finance disciplines. Today
the vast majority of those entering Chartered Accountancy are graduates. The
remainder train after leaving school with good A' Levels or have previous
professional accountancy qualifications,.
Public Level Practice:
Chartered Accountants in public practice work
within an accounting firm provide such range of accounting & tax services
to clients. These include business advice, management consultancy, audit and
taxation. Around 30% of ICAEW members currently work in public practice. They
either progress through senior grades ultimately to partnership, or specialise
in a particular areas.
Business Level Practice:
Accountants are often employed within an
organisation using their financial comprehension and expertise to control the
management of the business and to help it develop. They can occupy roles such
as finance director or fund manager within organisations.
Corporate & Finance Level Practice:
Huge firms often have specialising
departments in corporate finance sectors. Chartered Accountant Work will
involves in securing finance for company combination, purchase, management
buy-ins and buy-outs and capital reconstructions. A job in corporate finance
requires expertise in negotiation with finance providers, lawyers, researchers,
management and other key professionals.
Information technology for Accounting:
Accountants with an aptitude and practice for
computing could find themselves specialising in accounting IT. Work is largely
project driven, he/she involved for example the automation of the accounting of
a company or implemented new systems of software for accountancy firms.
Legal & Forensic
accounting:
In Legal aspects Investigations into commercial frauds, personal injury cases and civil cases often require the testimony of expert witnesses in accountancy. Large firms often have specialised departments in litigation support composed of qualified accountants.
Other Important websites
for Chartered Accountancy:
other imp. links
ReplyDeletehttp://caresults.nic.in/
icaiexam.icai.org/