“CA is Conquer Again”
“CA is Conquer Again and not Come Again.” These were the words of Mr.T.N.Manoharan when he inaugurated the Institute of Chartered Accountants of India in my hometown, Tuticorin. From that day those two letters C A has become my life.
What is CA? How can one become a CA? Is it too difficult? What are the Career Opportunities? These questions often springs up in the minds of students when they think of Chartered Accountancy. This has always been one of the best professions from time immemorial. Few years back it was so common to see people advising the top scorers to choose science groups. But now, there is a mighty change in the mind set of teachers, parents and students as more and more students join the commerce stream.
What is CA?
CA is Chartered Accountancy. If you are a person interested in finance, business or knowledge management Chartered Accountancy is the right profession. This course offers students a dream career in the fields of Accountancy, Auditing, Taxation, Corporate Finance, Corporate Law, etc. With the rapid growth in economy, careers in finance abd accounts have gained tremendous popularity and the most prestigious carreer option in this field is that of a Chartered Accountant. They are the highly demanded professionals in the country such that for a demand of 10,000 there is a supply of only around 5,000-6,000. Today irrespective of the size of business, professional advices are sought by the corporate houses. It is a CA who can render that service to the business houses. The profession is regulated for more than five decades by the Institute of Chartered Accountants of India, a premier accounting body not only in India but also globally. ICAI is the second largest accounting body in the world with a membership of 141,516 CA’s. Their main function is to maintain the status and Standard of professional qualification of the members.
How can one become a CA?
To enter into this profession one has to register with the Institute of Chartered Accountants of India. A student who has passed the class 10 exam or any other equivalent examination conducted by the Government of India can register with the ICAI for the Common Proficiency Test. The registration is open throughout the year, but the student has to register at least 10 months before the exam which will be conducted twice a year. Once you clear this exam you are a member of the mighty family of ACA (Aspiring Chartered Accountants). Then a student can register for the next level namely the Professional Competent Exam. This course id a blend of Theoretical Education and practical training as an article or audit assistant with a practicing Chartered Accountant for a period of 3 & ½ years. This equips the students with knowledge, ability, skills and other qualities required of a professional accountant. The practical training helps the students to learn the technical details of the job. The last lag of the course will be the final. Once the article training is completed the student is eligible for appearing the Final exam. After clearing it you move from the family of Aspiring Chartered Accountants to a new family of Achieved Chartered Accountant.
Is it too difficult?
The answer is no. In addition to the above the student should have some personal qualifications like Business interest, communication skills, Analytical skill, good team working skills and integrity. There is a considerable increase in the number of students taking up this course today. Survey says that there are 4,00,000 students who have enrolled themselves into this course which is indeed an epoch making event. There is a formula to succeed in acquiring this Professional degree and it is S^2H. It means Sincere and Systematic approach with Hard work will always result in success.
What are the Career Opportunities?
When it comes to career everyone wants the best. Chartered Accounting career is a highly sought after career course and with the present increase in the business volumes a CA’s importance has realized new heights. Once a CA, you have various options at your disposal to choose as a career. Some of them include: General Practice, New Assurance and Performancement measurement services, Change Management, Stake Holder value creation, Strategic Management, Capital Management and International Finance regulation, Financial reporting, Tax Compliance, Tax Advice and Planning Corporate Finance, Insolvency and Corporate Recovery, Management Consultancy etc. The scope for this lucrative career is bright in an economically developing nation like ours where the investment opportunities are booming. This profession can be challenging for a competent person. The salary which a CA receives today is highly impressive. For a fresh Chartered Accountant the salary ranges from 6-12 lakhs per annum. Such is the position of the Chartered Accountant in the society today. This profession is yet to obtain its global status within a short span of time.
So, lets always remember,
A Chartered Accountant is a person who stays awake when the whole world sleeps.
He burns his midnight oil to enlighten the entire corporate world.