Chartered Accountancy is dominating many career choices these days and why not, after all this is one of the renowned professions prevailing in the nation. The career is fancy for the generation but its accomplishment is not easy. The accomplishment needs 4.5 years of dedicated training in the course and a qualifying certificate from the Institute of Chartered Accountants (ICAI).
The CA training syllabus is affiliated to the Institute of Chartered Accountants of India (ICAI) and is valid all over the nation. The institute provides CA program comprising of Foundation, Intermediate and Final courses all over the nation.
Before checking out the wavelength of the profession one must drill into the roles and responsibilities of a Chartered Accountant.
The initial step towards the career is Foundation Course which includes a 4 months preparation and then the examination. The minimum eligibility to pursue the foundation course is 10+2 from any recognized board.
Another crucial step is the Intermediate course which includes 8 months preparation period and then examination. One can pursue with intermediate course hand in hand with his/her BCom studies.
The finale is the Articleship which is a three-year training concluded with a final exam one has to clear to qualify as a CA.
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The overall duration of the course is 4.5 years after the 12th examination. However, one can directly enter into intermediate level after completing the graduation.
Roles and Responsibilities of a CA:
Accountancy is the main-stream of Chartered Accountants. This is one of the prominent functions which involves tasks from simple bookkeeping to complex financial scrutiny, writing up of accounts, making financial statements etc.
CA are the auditors who critically examine the financial condition of the business to conclude its risk and scopes. Auditing entails reviewing of business unit’s financial data and checking the validity of the documents.
Taxation is another task for a CA. CA furnish returns, manage all tax assessments and liabilities on behalf of the business unit. They even provide general advice to clients dealing with taxation issues.
CA is the one who seals the cost of production or other processes involved in a project. In a business, he guides with cost management, cost control, price setting, etc. to the management.
CA critically examines the company’s financial documents to determine its financial status. They conduct the course to study the business and conclude whether the business is in loss or profit. They also help with suggestions related to market risk management. They guide the companies in attaining proper efficiency in the management, to increase profits and to find out the probabilities of declining profits, etc.