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    With the rapid growth in economy, careers in finance and accounts have gained tremendouspopularity and the most prestigious career option in this filed is that ofChartered Accountant.Chartered Accountancy is a dynamic, challenging and rewarding profession. All the countrieshave their own Accountancy Association which regulates the quality and quantity of theprofessionals in this field. Chartered Accountancy Course is a professional course in Accountingintroduced in our country in 1949, with the enactment of the Chartered AccountantsAct. The

    Institute of Chartered Accountants of India (ICAI) was formed the same year. This Institute isboth an examining and a licensing body. It is the responsibility of the institute to conduct theChartered accountancy (CA) Course. The course involves a blend of theoretical education andpractical training which run concurrently for a period of three years and equips a student withknowledge, ability, skills and other qualities required of a professional accountant. TheChartered Accounting qualification equips Chartered Accountants with the perfect blend oflearned principles and practical application giving them a noticeable advantage over theircounterparts, and allowing them to add value to a business from their first day on the job.

    1. WORK OF CHARTERED ACCOUNTANT

    Chartered accountancy is the core of all business, be it big or small. A chartered accountants

    work involves auditing, taxation, accounting and financial planning. It can be a very challenging

    and rewarding job.

    Chartered Accountants display exceptional thinking and a superior grasp of business that truly

    marks them as unique in the marketplace. They work at some of the highest levels in business

    as chief financial officers, CEOs, senior managers and partners ofsome of the worlds largest

    organisations.

    A Chartered Accountants work area has become so wide and involves so many activities thatsometimes a CA is perceived as almost an enigma. A CA can start career with auditing

    activities, which is the basic work area of a CA.Professional Chartered Accountants have theoption to be appointed as auditors of companies. Chartered Accounts also can take privateaudit as their profession.

    From here a more fulfilling career in finance can be pursed after getting enough exposure ofintricacies of finance. As an investment consultant and as a fund manager a CA can play therole of a top decision maker. CAs also work in project management and consultancy services

    They can also indulge in their private practice of audit and consultancy.

    The consultancy work is becoming more and more profitable now a days.It involves Financial Accounting, which includes operating accounts, supervising, controlling andorganizing income and expenditure and coping with taxes. It involves verifying books andaccounts and issuing certificate about the company's financial state. The other areas of

    consultancy are cost accounting that includes working out cost of a particular operation as wellas minimizing costs and future forecasting.Tax Management is another type of consultancy taken up by Chartered Accountants. It requiresminimization of incidence of direct and indirect taxes using legal means. Besides this, Chartered

    Accounts often indulge in providing consultancy services in the fields related to finance andaccounts. They can efficiently provide services in areas like corporate law advice, projectplanning and finance, amalgamation and business advice.They can also serve as a management and corporate caretaker.

    http://career.webindia123.com/career/options/accounting_finance/chartered_accountancy/intro.htmhttp://career.webindia123.com/career/options/accounting_finance/chartered_accountancy/intro.htmhttp://career.webindia123.com/career/options/accounting_finance/chartered_accountancy/intro.htmhttp://career.webindia123.com/career/options/accounting_finance/chartered_accountancy/intro.htmhttp://career.webindia123.com/career/options/accounting_finance/chartered_accountancy/intro.htmhttp://career.webindia123.com/career/options/accounting_finance/chartered_accountancy/intro.htmhttp://career.webindia123.com/career/options/accounting_finance/chartered_accountancy/intro.htmhttp://career.webindia123.com/career/options/accounting_finance/chartered_accountancy/intro.htm
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    Entry to the Chartered Accountancy Profession is primarily through the CPT Scheme for 10+2

    Students who have to qualify the Common Proficiency Test. Direct Entry Scheme has been

    introduced from August 2012 for Graduates and Post Graduates with required percentage of

    marks and Intermediate Pass of the Institute of Cost Accountants of India and the Institute of

    Company Secretaries of India.

    CPT Course students who have qualified CPT has to Register for the Intermediate (IPC) Course

    and Qualify either Group I or Both Groups of Intermediate (IPC) Examination.

    While students are required to successfully complete the (a) 100 Hours ITT Course and (b)Orientation Course before joining Practical Training of three years, these courses can be

    pursued even before qualifying the Intermediate (IPC) Examination.

    Students can join Practical Training of 3 years after qualifying IPCC Group-I or Both Groups.

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    Such students are required to undergo (a) GMCS-I Course during their first year of their

    Practical Training, (b) GMCS-II Course in the last 18 months of their Practical Training and (c)

    Advanced ITT Course.

    Direct Entry Scheme to Chartered Accountancy Course for Commerce Graduates/ Post

    Graduates with 55% of marks, Other Graduates/ Post Graduates with 60% Marks and

    Intermediate Examination Pass students of The Institute of Cost Accountants of India or Institute

    of Company Secretaries of India is available from August 1, 2012.

    Study Course concurrently from the date of registration for the Intermediate/ IPCC course. All

    students undergoing Practical Training are required to undergo (a) GMCS-I Course during the

    first year of Practical Training, (b) GMCS-II Course between 18th month and 36th month of

    Practical Training and (c) Advanced ITT Course during the last year of Practical Training.

    Students can appear in the Final Examination in the last six months of their Practical Training

    and qualify CA Final Examination, to become a Chartered Accountant. Provisional registration

    for students pursuing final year graduation is allowed.

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    Intermediate level qualified candidates from the Institute of Cost Accountants of India or the

    Institute of Company Secretaries of India can Register for the Intermediate (IPC) Course Group

    I or Both Groups through the Direct Entry route with the option to register for the Accounting

    Technician Course (ATC), if they so like. Students have to undergo eight months of Study

    Course from date of registration for the Intermediate (IPC) Course and have to pass either

    Group I or Both Groups of the Intermediate (IPC) Examination and then successfully complete

    (a) 100 Hours ITT Course; and (b) Orientation Course before joining Practical Training of three

    years. All students undergoing Practical Training of 3 years are required to undergo (a) GMCS-I

    Course during the first year of Practical Training, (b) GMCS-II Course between 18th and 36th

    month of Practical Training and (c) Advanced ITT Course during the last year of Practical

    Training. Students can appear in the Final Examination while serving last six months of Article

    Training on or before the last day of the month preceeding the month in which the examination

    is to be held. Students are required to complete three years of Practical Training and qualify CA

    Final Examination, to become a Chartered Accountant.

    5. EMPLOYMENT AND ADVERTISEMENT

    Job Prospects, Employment Outlook and Career Development

    The employment outlook for chartered accountants is very good. According to the United

    States Bureau of Labor Statistics, there will be a great increase in the number of

    accountant and auditor jobs from 2008 to 2018. In addition, professionally certified

    accountants, such as chartered accountants and Certified Public Accountants, are

    expected to have the best employment prospects of all.

    Companies will be contending with new regulations and a greater need for corporate

    financial transparency as a result of past corporate, economic, and accounting scandals.

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    Chartered accountants looking to advance should look for increasingly senior-level

    positions in larger companies and corporations, perhaps eventually as a Chief Financial

    Officer.

    6. ESTIMATED EARNING

    At first: 6,00,000 p.a.After Five years: 18,00,000 p.a.

    After future Date: Subjective

    7. OUTLOOK FOR THIS OCCUPATION

    Accountants are employed to examine and prepare financial records. They are the ones

    who make sure that the tax returns are calculated accurately and the tax payments are

    done in time to avoid legal consequences. A chartered accountant is someone who has

    earned the prestigious accountant degree and is member of a professional accounting

    organization. In United States, chartered accountants are known as Certified Public

    Accountants (CPA). Chartered accountants or CPAs are employed in a variety of

    institutions like public firms, large corporations, accounting firms, or at times they will be

    self-employed.

    It is the duty of a chartered accountant to make sure that all the papers prepared by an

    institution regarding its financial matters comply with the prevailing rules and regulations.

    It is also their duty to calculate the tax returns of a company and they have to make sure

    it is properly paid on time. They maintain organized financial records. They analyze the

    financial implications of various steps taken by the institution and will provide the best

    recommendations which will help in reducing the taxes. They are called in for making

    recommendations for reducing costs and for increasing profits in various projects

    undertaken by a firm.

    The job of making financial documents and assessing them is a very interactive work.

    They are responsible for what they find and should be able to support their claims about

    various things related to finance of the institution. This needs them to perform face to

    face meetings with the management, clients, and various partners. Most of these

    accountants will be specialized in some sort of business as most of the organizations

    specialize in a particular financial business field. If there are multiple major fields of

    business that are functioning within a company, then there will be a separate accountant

    for each wing.

    The specialization in accounting includes various services like assurance, risk

    management, healthcare etc. Some of those persons who are having an accounting

    degree are needed in universities for teaching. Usually there are four main types of

    accountants working in various financial fields. One is the public accountant. They

    include the broad range of accountants that we see commonly.

    They work in companies as general accountants for auditing, tax calculation, accounting,

    and for consulting tasks. Then the second type of accountants is the management

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    accountants who will be working privately for a management for assessing their profits.

    Then we have the government accountants and the internal auditing accountants. The

    world economy is indicating a prosperous future outlook in accounting related fields. The

    demand for accounting expertise will increase, and more accountants and auditors will

    be required to perform the job of books, organize taxes, and give management advice.

    Amendments in law related to taxes, financial reporting standards, businessinvestments, mergers, and other financial events are indication supporting the idea of

    creating great numbers of job opportunities and openings. Trends in international

    business and trade, international mergers and acquisitions will attract youths to choose

    this career.

    8. RELATED OCCUPATION

    Certified Internal Auditor

    International Accountant

    Certified Public Accountant

    Chartered Certified Accountant

    Certified General Accountant

    Certified Management Accountant

    Certified Accounting Technician

    Certified International Investment Analyst

    Certified Treasury Professional

    Chartered Certified Accountant

    Chartered Global Management Accountant

    9. ADVANTAGES

    The degree of a chartered accountant is one of the most prestigious degrees in the

    world. It is not easy to become a chartered accountant considering the difficult courses

    and examinations that he is supposed to undergo. In fact a chartered accountant is

    considered to be a cut above the other accountants as he has completed a rigorous two

    years post graduate program along with the work experience at the same time while

    pursuing his studies. The chartered accountant is the most in demand finance

    professional in the world today. Some of the benefits that a chartered accountant enjoys

    are:

    a) A chartered accountant is one of the most sought after professional in the finance

    industry. There is a great dearth of young accounting professionals in the financialdomain. It would provide you with leverage as the qualification of a chartered accountant

    is the highest and the toughest qualifications to have. Being a chartered accountant can

    provide you with a whole lot of opportunities.

    b) A chartered accountant would always have more opportunities to work overseas as

    the degree is recognized by a large of number of nations.One can get a head start

    against the other accountants as he can work in any of the member countries like-

    Canada, US, UK, Hong Kong, New Zealand and many more.

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    c) According to a recent survey the global competition for the accountants is increasing

    with every passing day. The degree of a chartered accountant would also always hold

    one in good stead.

    d) The financial expertise as well as the business knowledge can make the CA a

    business leader in his country.

    e) The in depth experience as well as the rigorous training that a CA undergoes canhelp him in entering the higher echelons of management. Some of the CEOs of the

    world's biggest companies are all chartered accountants.

    There are many other benefits that can be accrued to a chartered accountant. Being a

    globally recognized qualification, a chartered professional is the perfectly suited

    qualification on a global scale. The training that he undergoes prepares him to face any

    situation howsoever complex and difficult it might be as far as the finances of an

    organization are concerned.

    Some of the key areas that a CA works on are checking the veracity of the company's

    financial reports, bookkeeping, advising on tax and many other responsibilities.

    10. DISADVANTAGES

    a. It can be a stressful job as the responsibilities are enormous and there is no

    scope for any errors.

    b. Regular update of knowledge is a must otherwise it may lead to stagnation in

    career.c. The work itself can be tedious and boring if you are closing books or focusing

    primarily on financial reporting or some other routine that is the same each

    month. Doing financial analysis and project based work may be more rewarding

    for some people as there are some opportunities for more creativity.

    d. The hours will definitely be long if you are working in public accounting as a tax

    accountant or auditor and they can be long in private industry if you are

    crunching on a deadline or it is budget season.