Chartered Accountancy courses have always been considered one of the toughest courses to complete. The vast and exhaustive syllabus and the stories about countless students, who couldn’t qualify have deterred many from attempting it. Rumours spread as if wildfire and people accept it without any afterthought, leading to erroneous decisions.
While Chartered Accountant or CA course is one of the intricate courses, it’s not an impossible one to qualify. The stories you hear about failures mostly come from those who didn’t give an honest attempt. Otherwise, approached with an insincere and impassioned attitude.
Moreover, the info available about the course in the public domain is limited. Pieces of data students collect from different online portals lead to ambiguous conclusions. After receiving queries about the varying aspects of CA courses, we decided to put up an article describing the CA course. Alternatively, you can consult a leading CA coaching centre in Kerala to have first-person detail on the course.
Roles of a Chartered Accountant
Chartered Accountants are an essential part of multinational companies, business firms, reputed entities and individuals with high income. The CA is entrusted with the task of monitoring, maintaining and managing the finances of the firm. He or she will be the person responsible for calculating taxes and undertaking tax-related formalities.
Don’t misconstrue a chartered accountant with a normal accountant. Both have different roles and responsibilities, thereby creating different stature for both. The all-encompassing knowledge acquired by the CA during the course and professional training makes him/ her an authority in the field.
Money is Oxygen for organizations and business firms. Handling the finance, playing a key role in financial strategies and managing funds, the chartered accountant keeps the entity functioning without any impediments. You might have understood the broad part of the role of a chartered accountant.
The sectors you can choose as a qualified CA are:
- Establishment of one’s own CA firm
- Business organizations
- Business consultancy services
- Capital markets
- Financial establishments
Why Choose Chartered Accountancy?
CA is undoubtedly one of the best career options. It will open a plethora of opportunities for you. The candidate with CA qualification can opt to work on his or her wish. Being high in demand, you can expect an exemplary starting pay package too. Besides, reputation and status in the organization.
A well-qualified CA can change the future of a business entity through insightful decisions and visionary steps. Envisaging the changing business trends and financial factors, a chartered accountant will advise the high echelons regarding the implementation of enhanced methodologies for financial stability and progress.
The world witnesses a reduction in employment due to automation of processes and intrusion of Artificial Intelligence in every field. However, it is contradictory in the case of skilled CAs. The number of organizations looking out for qualified chartered accountants is increasing every year, with the establishment of new companies and entities. These are some of the reasons for choosing CA as a career option.
In addition to the above, you can think of starting your firm and practising. You may have to wait for some time to get a reputation and reach out to big clients. However, once you establish yourself as a credible CA and construct your own identity, you will be flooded with assignments. You need to have the will to work hard with consistency and continue performing without any drop in an optimistic attitude.
What are the Advantages and Disadvantages of Chartered Accountancy?
There’s no perfect thing in this world. Everything you see around, every profession, every field has its advantages and disadvantages. CA is no different. Let’s have a look at the advantages and disadvantages of the chartered account profession.
- Highly-paid job
- High in demand
- Countless opportunities in the country and abroad
- Option to work at the location of your choice
- Exceptional career growth prospects
- Direct contact with the top-level management
- Can decide to work with the government or private organizations or freelancing
- Workload can be high, especially during fiscal ending
- May turn stressful at times
- Lack of adequate knowledge can make the job complicated
- Indecisiveness can affect your performance
- May have to work for long hours
- It may turn monotonous over a period
Basic Structure of Chartered Accountancy Course
Anyone who has 10+2 qualification with a minimum aggregate of 55% can join CA Foundation course, which was previously known as the Common Proficiency Test (CPT). However, those with a minimum of 55% in Commerce Graduation or 60% in graduation in any other stream don’t have to appear for CA Foundation course. They can enrol for CA Intermediate directly.
The basic structure of the CA course is appended below:
- CA Foundation course (previously, CPT)
- Integrated Course on Information Technology and Soft skills (ICITSS)
- CA Intermediate (previously, IPCC or Integrated Professional Competence Course)
- Articleship (3-year training) – During the last six months of the 3-year articleship, candidates can appear for the final course exams.
- Advanced Integrated Course on online Information Technology and Soft Skills (AICITSS)
- FC (Final course) – You are a qualified Chartered Accountant after clearing Final Course.
You can obtain professional advice from CA coaching centres in Kerala or the region wherever you are located. It will give you a better idea of the course.
With perseverance and dedication, you can clear the CA course with flying colours.