How to Become a Chartered Accountant?
These days, the Chartered Accountant course has become one of the popular courses in India. Students and Parents are considering CA as a better career choice. But most of them may not have a complete picture of this course. In this article, we tried to present an answer to the question, how to become a chartered accountant?. We will first start with a fundamental aspect of, “who is called a CA?”.
Who is a Chartered Accountant(CA)?
Chartered Accountant means an accountant who is certified by a charter. Charter means a Statue. CA’s are regulated by “The Chartered Accountants Acts, 1949”.
What comprises of Chartered Accountant Course?
CA Course is relating to the art section. The functions would be Accounting, Auditing, and Taxation. However, the list is not exhaustive.
Why CA Course?
- Economical Course
- Ample Opportunities(Over the Global)
How can we say that the opportunities are plenty?
Any Business requires capital or finance. Those funds should be managed effectively. Hence, Finance Department plays a vital role in the growth of any business.
The business could be in any form of entity. We shall take an example of a company form of entity. A companies are looking for CA’s to take up wide range of work positions.
CA is necessary for the following functions:
- Financial planning,
- Compliance with applicable laws,
- Also for accounting and audit practices.
For further information regarding the legal status/Company, refer to the article here.
Real time example:
The number of companies registered in the last fiscal year is almost a Lakh. So, the total number of companies in India stood at 13,94,819 at the end of March 2018 (Source: The Hindu Website). As we advance, the increase in number will raise. Chartered accountants are required for various position such as:
- Accountant/Accounts Manager,
- Audit manager,
- Finance Manager
- Costing Department
- Internal Audit
- Chief Finance Officer(CFO) etc.,
- Statutory or Internal Auditor(For Practicing CA’s)
These above statistics pertain to only the company form of entities. If we consider Partnership Firms, LLP’s, Sole Proprietor, etc.., the sky is the limit to opportunities.
“Great things are accomplished by talented people who believe they will accomplish them” – Warren Bennis.
(Source: Quote Courtesy by Brainy Quote)
Detailed steps to become a Chartered Accountant are provided below:
- Students can register with the Board of Studies, ICAI, after completion of the 10+2 examination.
- Appear for CA Foundation Exam and Qualify
- Enroll for CA-Inter. Students enrolled for this second level must undergo 8 Months of Study course before attempting the exam.
We will be updating the summarized version of “How to become a chartered accountant” Article soon. Watch this space for more updates.