Chartered accountancy remains one of the highest paid skills, and with this, the most sought-after ones too. For most of the commerce graduates, or the ones, willing to be indulged in the accounting methodologies and financial statements all their lives, this is the most preferred career choice. These professionals play a strategic role for an organization, managing its financial records and extending help in the times of financial crisis. They are desired across various sectors, and can go on to find the most suitable jobs in the consultancy and accounting firms operating across India.
How to get started?
Chartered accountancy is considered to be one of the highest paying skills, but at the same time, the academic course to be a certified CA seems equally tough. It asks for consistency, dedication and interest in accountancy. Those willing to work as chartered accountants, first need to appear for the Common Proficiency Test (CPT), which is the entry-level test for the course. The next step following this, is the Integrated Professional Competence Course (IPCC), which is the intermediate course. Those having cleared the entry-level test are eligible to appear in this examination. After clearing the first group of IPCC, the candidate is eligible for the articleship. After completing this level, the candidates can have to appear for the final exam, which is held twice in a year in the months of May and November.
Leading employers for chartered acountants
After having cleared all your chartered accountancy modules, you are all set to find suitable jobs in the financial consultancies or accounting firms. To get started as a chartered accountant, you first need to know about your way ahead, and especially about the employers you should aim to work with. Thus, to help you with this, here's is a list of the leading consultancy and accounting firms. These leading firms include Price water house Coopers, Ernst & Young, KPMG, Deloitte, Grant Thornton, BDO, Baker Tilly, and many other names to be incorporated in the list.
Besides, you can even look for suitable CA Jobs in banks, public limited companies, auditing firms, finance companies, mutual fund, portfolio management and investment companies. They can even seek opportunities in legal and patent firms.
What are they responsible for?
- Keeping a check on the financial statements, and budgets allocated for varied projects and tasks
- Conducting financial audits on specified intervals
- Providing financial advice to the clients
- Assisting clients in devising financial plans with adaptive measures
- Analysing financial systems and risks associated with them
- Checking accuracy of financial systems
- Asssiting clients on tax planning and tax issues
- Preparing accounts and store data to be delivered to the client, as and when required
- Providing financial assistance in case of mergers & acquisitions
- Dealing with issues such as insolvency, and fraud activities
Average pay packages
Those employed as chartered accountants are paid well across the globe. In India too, the chartered accountancy skills are long cherished and salaries for this job are relatively higher too. As per an international research firm, the chartered accountants in India can expect to earn Rs 597,098 annually. The highest paying skills defined for this job are compliance audit, financial analysis, financial accounting and controlling, and budget management. However, the salaries offered to them may increase as per the experience and skills possessed by the candidate.
Future career prospects for chartered accountants
While we discuss all the major aspects essential to be a successful career in chartered accountancy, the future career prospects need to be enlightened too. Those having completed the academic course can go ahead to find suitable jobs in Accounting, Auditing, Corporate Finance, Corporate Laws, and Taxation. They can move ahead as per their preferences, interests and strengths. All of these jobs are rewarding and cherished among those aspiring to be chartered accountants. Further, if we consider long term career goals, these career choices make them go a long way. After working as chartered accountants for years, they can even be promoted to higher managerial positions such Managing Directors, Director (Finance) and Chief Accountants.