Merits of Becoming CA
In the context of recession, CA is such a profession which is not dependent from the ups and downs of the economy. The main task of a CA is that it will always be in high demand, despite the conditions of an economy. It also must be noted that, Students do not even need to find a job as after qualifying as a CA; They can ultimately start working independently i.e.. Their own firm. With your competence you can steadily gain clients confidence and establish yourself soon enough.
Why work as a CA?
- There is never any dearth of work for CAs as any and every organisation requires them.
- You can start your professional career as a CA as soon as you clear the exams, so there is no waiting period in between:
- The mendatory articleship period gives the essential industry exposure to prepare you for a job or independent practice, right after your degree.
- The remuneration is generally high as well. The initial salaries are Rs. 20, 000 and can go upto 80, 000 in a short period. Obviously, This will depend on the nature of organisation you choose to work in. With due time and experience, it is possible to get paid more.
Work Done by CA
The work of a CA is always facinating to commerce students, as they deal in accounts and finance. Their work is stated below-
- Accounting: Accounting deals with preparing the accounts of a company, private or government owned. This comprises all kinds of financial statements, from the Balance Sheet to the Profit and Loss Account.
- Auditing: Auditing means reviewing the financial accounts and going through the financial statements of companies and checking if they're in order and error free. This checks that there is negligible scope of financial irregularities by companies.
- Cost Consulting: CAs can also diversify and take up cost consultancy. Effective use of their skills they can help big enterprises make viable budgets for specific operations so as to cut down the costs.
- Taxation: If auditing and accounting are tough and make you sleep, a Chartered Accountancy course can still be of use as you can take up regarding tax issues as your main work. This comprises filing tax returns, doling tax advice and minimisation of different taxes through legal means.
- Legal Matters: CAs also have a big role to play in legal matters of financial contracts, estate planning as well as during insolvency and liquidation of companies.
- Management Consulting: Management consulting comprises of analyzing the financial information of different departments within an organisation to understand past performance and figure out the present.
- Planning and Management: Apart from the regular management jobs, planning and management for CAs perform mostly financial management.
- Company Secretary: The nature of work is same as a CA but the title is different. The main task of a CS would consist following all legislations within the organisation intensively. It keeps an eye on that and reports to the boards members of various legal obligations of a company.