Marg Career Library - Chartered Accountant

Overview:

A Chartered Accountant works in all fields of business & finance, including auditing, taxation and financial management. The role of a Chartered accountant can cover many activities, depending on the type and size of organization they work for. Some Chartered accountants are engaged in public practice work. It offers lucrative career prospects in the fields of finance, fund management and investment consultancy.

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Career Path:

Commerce Graduates can look at a career in Chartered accountancy. This course requires a lot of academic rigour. The usual pass percentage for IPCC and IPC exams are approximately 32%-34 % of persons who appear for the respective exam levels. For more information candidates can visit www.icai.org

Stream of Study in 12th Grade/School:	Commerce(Recommended) Science There is no restriction with regard to the subjects studied in 10+2
Degree/Graduation Courses:	B.Com/B.Com(H) BBA BMS BBI
Higher education/Post Graduation Courses:	Pursue CA Course. The CA course is a self-study program with stringent requirements on training/articleship. All students have to go through the below steps to complete the program; Step 1 - Clear Integrated Professional Competence Course (IPCC) Level. (In case you have not completed Undergraduate degree. Step 2: Clear Integrated Professional Competence (IPC) Examination and Pursue 3 years articleship Step 3: Clear the CA final exam. The minimum time period to complete all the levels range from 3 to 4.5 years depending on the level at which you decide to join the program.

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Top Colleges:

Institute of Chartered Accountants of India (ICAI), Delhi

Job Opportunities:

Public/ Private Practice
Government Organizations
Corporate Firms
Banking and Insurance Sector
Auditing firms
Finance companies, mutual funds, portfolio management, stock broking firms, investment houses
Chartered Accountants firm
Consultancy firms

Job Responsibilities:

Scrutinize financial statements to ensure that they are accurate and comply with laws and regulations
Calculate taxes owed, prepare tax returns, and ensure that taxes are paid properly
Review account books and accounting systems for efficiency and use of accepted accounting procedures and analyse the risk.
Assess financial operations and make best-practices and recommendations to management
Suggest ways to reduce costs, enhance revenues, and improve profits
Advise clients on tax planning and tax issues on business acquisitions and mergers
Review completed tax forms and provide recommendations to junior members of team when needed
Develop and maintain strong relationships with clients through ongoing communication and exceptional service

Work Life:

Chartered accountants involved in Tax and audit work, spend a considerable amount of time performing audit procedures, preparing financial and audit reports.
They have to keep themselves updated about tax guidelines on a regular basis.
Chartered accountants working with a management consultancy or practicing independently also spend a lot of time meeting with clients and attending events.
Chartered accountants in private practice also help clients with business plans, loan applications and funding.
Their professional life is very much in sync with government policies for they are highly affected by them. Their to-do list can be obtained just by going through tax calendar decided by the government
The last date to complete tax filing and audit becomes the most stressful time for them.

Key Skills:

Detail Oriented
Analytical
Collaborative
Time Managemen
Scrupulous Planning
Numerical ability
Logical and methodical approach
Good verbal and written expression
Business acumen
Patient

Designation:

Entry level

Accountant, Financial analyst, Tax analyst, Article assistant, Assistant Manager -Accounts, Assistant manager- Treasury

Mid level

Internal auditor, Treasury Manager, Statutory Auditor, Head- Accounts & Finance, Head- Audit & Tax, Management Consultant

High level

Finance Controller, VP Accounting/ Finance, Chief Financial Officer, GM / Director-Finance and Accounts, Private Practice as a Chartered Accountant, Partner at Public Accountancy Firms

Merits & Demerits:

Merits

1. Very clear career path
2. Earning potential is high

Demerits

1. It can be a stressful job as the responsibilities are enormous and there is no scope for errors
2. Regular update of knowledge is a must otherwise it may lead to stagnation in career.
3. Work can get monotonous after a certain point.

Overview
Career Path
Top Colleges
Job Opportunities
Job Responsibilities
Work Life
Key Skills
Designation
Merits & Demerits

Chartered Accountant

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