Chartered Accountancy

Every business or organization needs a team of Chartered Accountants who are responsible for analyzing financial information, preparing financial reports, maintaining record of assets, accountability, profit and loss, tax liability, or other financial activities to minimize losses and maximize profits while following all industry-specific regulations. Thus, Chartered Accountants play significant role by providing professional guidance, aiming to maximize financial gains on behalf of client or firm.

Chartered Accountants are involved in analyzing financial information along with records, and then preparing reports related to managing budget, controlling costs, employee compensation, new product development, and tax calculation. They also play a significant role as a lot of areas require accounting, and auditing services. Tax Specialist is another significant branch of accounting professionals and some also work as employee benefits experts. These professionals also prepare income statements and balance sheets that every publicly-held corporation needs to file. Also these professionals plan, prepare budget, analyze, verify and interpret financial transactions and ensure that the records of these transactions are kept, so that the information can be extracted at any time.

Route to Chartered Accountancy Profession

Significant Statistics

• CPT can be taken by anyone who has passed 12th, graduation or post graduation course. The exam is conducted in the months of June and December every year. IPC examination can be taken by those who are graduate or postgraduate. These exams are administered by The Institute of Chartered Accountants of India (ICAI) in India.
• For taking the final CA exam candidates are required to complete a three year internship as a practicing CA in India. 
• Direct registration route is available to Commerce Graduates/Post-Graduates (with minimum 55% marks) or Other Graduates/ Post-Graduates (with minimum 60% marks) and Intermediate level passed candidates of Institute of Company Secretaries of India and Institute of Cost Accountants of India.
   

Pros

• Excellent earnings and social rapport
• Involves limited social interaction, thus, free from obligations
• Demand for CA professionals is rising at a higher pace

Cons

• Patience and hard work required
• Work-life imbalance and long working hours
• It takes a lot of time in setting as a CA