CAREER IN CHARTERED ACCOUNTANT, WHAT DOES HE/SHE DO
A Guide Towards Your Dream Chartered Accountant Career
A famous saying reads ‘no matter where you are from; your dreams are valid’. Yes, you are dreaming about a career in chartered accountancy. You should take the appropriate steps forward to reach your goal.
The career path to become a CA (Chartered Accountant) is challenging. But, one thing you should remember is that it is a promising career for sure. To become a CA, you should dedicate 5 years towards education.
Demand for CAs:
There is a massive demand for CAs in India not just in private sector, but also in public sector. These professionals are hired to deal with the account details of an organisation. They also help their clients in preventing bankruptcy and in resolving finance-related disputes. With your dream of Chartered Accountancy as your career, you should start your preparations right after your class X.
Who is a Chartered Accountant?
The ICAI regulates chartered Accountants. ICAI stands for Institute of Chartered Accountants of India. This institute was established through an Act. Like doctors, CAs can add CA in front of their names. Also, members of ICAI, who are in full-time practice, and even those, who have completed 5 years of practice can add FCA in front of their names.
Entry to the Profession:
As you dream of becoming a chartered accountant, you should know how to enter this profession. Let us find out here:
You can enter into the profession by taking up the CPT examination. This is the short-form for the Common Proficiency Test, which is the first level of Chartered Accountancy Examination in India. You can take up this test after your completion of class XII. But, if you wish to do your CA after your degree, you can get direct admission to the intermediate level in CA course.
Two groups in Intermediate:
The intermediate examination in the CA course offered by ICAI is divided into two groups of subjects. The first of the two groups are called as IPCC level, which is the second level of the CA course, expanded as Integrated Professional Competence Course.
The course is referred to as IPCC, and the examination conducted at the end of this course is called as IPCE or Integrated Professional Competence Examination.
In this second level, students get training as an articled assistant for three years in a chartered firm. In the third year of the course, before they take up the final examination, the students have the option to work in the industry.
Before article ship, the students will have to take up and complete a comprehensive 100-hour of information technology training and also an orientation course for soft skills development.
To ensure their overall development, the students will also have to undergo a training course in soft skills and communication.
This course is referred to as GMCS. This course last for 15 days. In the final year of the article ship, students will have to take up GMCS-II and advanced information technology training. Even, they can undertake the course after their exams.
There is another level to complete the CA course, and this is called as CA final.