Chartered accountancy is one of the most sought-after careers. This article discusses the various aspects surrounding chartered accountants.
The world is run by money, and all companies and government need to manage their finances properly to function effectively. This is where chartered accountants come in. If you are toying with the idea of becoming a chartered accountant, read on for a deeper understanding of the world of chartered accountancy.
Who is a Chartered Accountant (CA)?
Chartered Accountants manage the finances of an individual, a business, or a government body and steer them in a strategic direction. They track the financial performance of a company that helps in the decision-making process. Their financial advice is paramount in solving an organization’s problems and steering them towards the path of growth.
Before you find out how to become a CA, it is essential to understand its roles and scope.
Roles of a Chartered Accountant
As a CA, you can work for a single organization, or you can practice independently and offer your services to multiple clients. Whichever option you choose, you will be expected to fulfil either one or all of the following duties.
- Financial Accounting: Recording, summarizing, and reporting the business transactions of an organization through financial statements.
- Financial Auditing: Evaluating the transactions and statements of a business and presenting the exact amount of business transactions.
- Tax Management: The objective is to comply with Income Tax laws and avoid getting fined or paying interest. That might seem daunting at first, but everything will be covered in the CA course.
- Cost Accounting: It aims to capture an organization’s overall production cost by calculating both variable and fixed costs.
Why should you become a Chartered Accountant?
- Unlimited Earning Potential: The earning potential with this profession is unlimited. You will be paid a hefty salary by a company depending on its size, location, and the roles it wants you to fulfil. The salary package increases exponentially with experience.
- Opens International Doors: The Institute of Chartered Accountants of India (ICAI) is a statutory body that is recognized worldwide. Once you pass from this institute, you can easily get placed in an international organization at a generous package.
Which industries employ Chartered Accountants?
Once you successfully complete your chartered accountant course, you will have several companies to choose from, both national and international. To give you an idea, here is a small list of companies that will be your potential employers.
- Indian MNCs like Reliance Industry, Tata Consultancy Services, Wipro, Jindal Steel, ITC, etc.
- International MNCs like Ernst & Young, Deloitte, KPMG, etc.
- Government agencies.
How to become a Chartered Accountant?
If you find the notion of becoming a Chartered Accountant enticing and if you are ready to go through the rigours of this process, you will be glad to know that NMIMS is offering a two-year course on Applied Finance. With a comprehensive program structure and multiple MNCs as hiring partners, enrolling in this program will put you on the path of becoming either a research analyst or a corporate financial analyst.
The process of becoming a chartered accountant is quite taxing and has fierce competition, but the end result will be worth all the hard work. You can opt for a CA course online if you are a working professional. If you want to study full-time, enrol in the NMIMS course of Applied Finance, and build a successful and profitable career as a chartered accountant.