Following a career path that offers very lucrative and interesting employment options, like becoming a CA after college, would be a long-term ambition.
While students who desire careers in economics, finance, law, and accounting have chosen the CA Foundation Test, chartered accountants improve a person’s understanding of auditing and taxation, cost accounting, budgeting, consulting, and financial management in terms of an organization. Therefore, studying CA is the best option if you have the desire to maintain a key position within a very rewarding sector of accounting. It is one of the most challenging tests in the entire world.
What is Chartered Accountancy? – Beast of Accounting
The focus of chartered accounting is the study of accounting and taxation practices to get qualified as a professional who can handle accounting and taxation for a company or enterprise.
In contrast to other professions, those in chartered accounting do not require undergraduate education before pursuing master’s and doctoral degrees.
The foundation level, intermediate level, and final level are the three levels. Only after passing all three levels may a candidate be recognized as a professional CA. But, what could be the CA qualification. Let’s find out here.
Also Read – CA with College vs CA without College
How to become a CA? – CA Qualifications
Candidates must complete several steps to become a CA, such as meeting eligibility requirements, applying, earning the necessary degree, etc. In the section below, look at the steps.
- Students must fill out the application and sign up for the CPT exam, commonly known as the Foundation Course. This test is available for students to take in class.
- Students must complete the IPCC Programme, also known as the Intermediate Program, after finishing the foundation course. Students must complete their class 12 exams to qualify.
- After completing the IPCC course, candidates must complete an articleship with a CA. Under a CA, this is a three-year internship. It is an opportunity for them to experiment with how they handle accounting with an experienced CA.
- Passing the CA final and tests is the last requirement to become a certified CA. The course is open to applicants while they are still in their internship period.
What are the roles of a CAs in India?
A CA has many different responsibilities and roles. Verify them in the areas below
- One of a CA’s guiding principles is auditing. This activity includes looking at the account ledgers and corporate financial statements. It is the main task performed by many accounting firms.
- The CAs must carry out the crucial task of tax accounting. Any organization’s management of taxes is crucial. They create tax planning and personal and business income tax statements.
- CAs also participate in this line of business. They deal with important financial issues, interact with clients and suppliers, and conduct business.
- Additionally, CAs do budget analyses for developing and implementing financial plans for a particular company organization.
- The CAs must also carry out the important task of cost management. Management accountants assist with capital financial planning and business account review in various businesses.
Conclusion
Even though the Chartered Accountancy degree is a professional one in and of itself, it cannot be broken down into undergraduate or graduate levels or degrees. Instead, it is a degree that can be obtained by passing the three levels of tests that come before the degree is finished. Plan and start your studies!!