The Scope Of CA As A Prestigious As Well As Promising Career Option
Careers in accountancy and finance have gained tremendous popularity with the quick growth in the economy. One such dynamic, rewarding and challenging career is Chartered Accountancy, popularly called CA. In the present economic scenario, there is great demand for Chartered Accountants. These professionals occupy respectable and high esteem posts in any organization.
If you are looking to register yourself for the CPT (proficiency test), then it is must that you have passed the 10th examination from a recognized education board by the law of India. But you can write the exam only after you have cleared your 10+2 examination. There are no restrictions regarding your age or the marks secured in 10+2. Aggregate marks required by graduate holders are:
- Non-Commerce graduates: 55% (without Mathematics)
- Non Commerce graduates: 60% (with Mathematics)
- Commerce graduates: 50%
These students can register for IPCC (Integrated Professional Competence Course) after they have passed their CPT. Simultaneously, the candidates can also apply for practical training. After passing their IPCC, they can opt for the final course of CA.
Skills and competencies required:
A CA must have certain competencies and skill set which should mirror the professional knowledge, ethics, attitude and skills of the individual. There are two groups of competencies which the CA must have:
The Specific competencies – Finance, taxation, assurance, performance measurement & reporting, risk management and governance.
The Pervasive quality and traits – Professional skills like problem solving and interaction, professionalism and ethical behavior, personal attributes like taking initiative and adding value, accountability and adaptability to change.
Nature of work:
The work of a CA varies with their particular titles, though some of them have similar nature of work. They oversee the preparation of financial budgets and reports, implement strategies of cash management and supervise the direct investment activities. They develop various strategies and put into practice the long term objectives of their organization.
Career Prospects and Growth:
With the growing significance of trade and industry along with the fast growth of the money and capital market in an economically developing nation like India, the significance of CA professionals has augmented. They can be appointed as auditors of the company or as corporate and management caretaker. Besides this, they can also continue their private practice of consultancy and audit. Various career options for CA professionals are:
- Financial controllers
- Finance Managers
- Financial Advisors
- Budget Analyst
- Financial Analyst
An understanding of the derivatives, international finance and complex financial instruments is imperative.
A well paid profession, CA earns numerous perks besides a fixed salary, such as house allowance, medical benefits and so on. They can be employed at private firms, government service or may own their consultancy. A CA who is engaged in private practice and consultancy can mint handsome returns depending on the kind and number of clients they have. Other factors which might influence the remuneration of a CA, is his dedication, commitment to the job, involvement and hard work.
Last words but not the least:
Charted Accountants are like moral police who make certain that all the financial transactions of the organization are in accordance with the law, keeping a record of the cost management and supervising all tax matters.