Chartered Accountancy

As a chartered accountant, you will be in charge of the financial documentation of a company or an organization and will be providing professional opinion regarding the fiscal decisions of the firm.

What do Chartered Accountants do?

Chartered accountants provide financial management services by working in private practice, private firms or in the public sector. They audit accounts, prepare financial reports and documents, provide trustworthy information about financial records and taxation, and maintain records of investments with the aim of maximising the profitability for the client or employer.

What does a typical day at work involve?

  • Checked Inspect the financial and accounting systems of a firm
  • Checked Ensure financial statements are accurate and in compliance with financial regulations
  • Checked Research and resolve the accounting and tax issues affecting the firm
  • Checked Maintain financial records
  • Checked Conduct financial audit
  • Checked Provide professional advices on financial matters
  • Checked Develop and maintain good relation with the clients

What job roles can a Chartered Accountant take up?

Accounting auditors do a detailed examination of ledgers, documents, vouchers and accounts of a company or organisation to verify the authenticity of financial statements. This serves to detect weaknesses in accounting systems, track unusual trends in financial data and check for fraud risks in the organisation.
CAs can offer tax compliance services to the company including tax preparation and representing assessees before the Income Tax authorities and giving general advice on tax administration and process improvement. The tax department also makes use of CA’s expertise in compliance audits.
CAs may act as forensic accountants who investigate the financial position of enterprises regarding issues such as sale or purchase, share capital, financing of business, mergers & restructuring, profit or loss and the efficiency in managements and administration.
In this role, a CA uses their expertise in the finance management techniques needed to run a successful enterprise through the formulation of policies, control of the daily accounting activities and through performance evaluations
They develop effective investment plans and implementation strategies and provide advice on investment portfolio management aimed at strengthening financial security of an individual or firm.
CAs provide accounting assurance services including the review of transactions such as loans and contracts, financial documents and financial resources in order to reduce risks and make decision making easier for the organisation.
As a cost accountant, CAs perform audits of the cost of production and processes at different levels of operation and advice the management on suitable action to be taken regarding costs and efficiency.

How to become a Chartered Accountant?

Step 1
Take any stream in 10+ 2

Studying any stream at the 10+2 level and securing a minimum score would be a prerequisite for admission into accountancy courses. But taking commerce stream will help you build a proper base in the subject.


Note:Commerce+ Maths

For candidates who wish to pursue any finance related field, taking maths as a subject will be an added advantage.

Step 2
Take Foundation Course

After plus two, you can directly enrol for CA foundation course. Completing a four month study period after passing the 10+2 examination is the minimum requirement for appearing in the CA foundation exam.


Note:UG /PG

Graduates are exempted from taking the CA foundation. As most of the syllabus of CA Intermediate courses are covered in BCom, doing a BCom and appearing directly for CA Intermediate will always be beneficial


Note:ACCA (Association of Chartered Certified Accountants)

ACCA offers a globally accepted Chartered Accountant Certification. You can register for ACCA after 10+2 and pursue it along with a degree, preferably BCom. You can acquire an ACCA membership on completion of a professional examination and an ethics module conducted by ACCA. You will also need 3 years of supervised accountancy experience. It should be noted that ACCAs have certain restrictions for practicing in India.

Step 3
Take CA Intermediate

CA Intermediate consists of 2 groups of subjects. You have to clear both groups (by taking exams for either group or both the groups at a time). The minimum requirement for taking the CA Intermediate course is completion of 8 months of study and a pass in CA foundation. Commerce graduates/post-graduates with 55% marks or other graduates/post-graduates with 60% marks are also eligible.


After passing either of the groups or both groups of subjects in CA Intermediate, you can start your articleship. Articleship will involve a 3 year practical training with a practicing chartered accountant.


Step 4
Take CA Final

Passing both groups of CA Intermediate and completing the articleship are the minimum requirements to register for CA Final. You have to undergo a compulsory Four Weeks Advanced Integrated Course on Information Technology and Soft skills (ICITSS) during the last two years of practical training but before appearing in the Final Examination.


You can be designated as a Chartered Accountant after acquiring an ICAI Membership on passing the CA Final exam.


Chartered Accountancy Colleges

Name State District Type Website Course

Skills Required

Analytical skills

Chartered accountants must have the skills to analyse and interpret simple and complex data to solve problems and make decisions.

Communication skills

Good communication skills are required for a chartered accountant as they must be able to listen to their client’s needs and communicate financial information with them effectively.

Math skills

Chartered accountants require basic skills in maths and statistics to analyze and interpret facts and figures.

Time Management skills

Chartered accountants need to work within deadlines, thus they should possess excellent time management skills to be competent and successful.

Industries

  • Checked Consultancy
  • Checked Private Practice
  • Checked Financial Institutions
  • Checked Chartered Accountants are employed in higher positions of accounting and finance departments of large organisations or institutes.

Top Companies

  • Checked Deloitte
  • Checked Ernst & Young
  • Checked KPMG
  • Checked PricewaterhouseCoopers (PwC)