A career in accounts
Introduction:
Chartered Accountancy has always been considered to be one of the most prestigious professions in India. The Institute of Chartered Accountants of India (ICAI), which is the licensing and examining body, offers this course. It was instituted with the enactment of the Chartered Accountants Act, 1949.
The three-year CA course comprises theoretical and practical training. After completion of the course the chartered accountants need to enroll as members in the ICAI. Enrolment is subject to acceptance by the institute.
A qualified chartered accountant specializes in auditing, accounting and taxation. Chartered accountants’ services are required even for small businesses. As per the Companies Act, 1956 only those chartered accountants in practice can be appointed as auditors of companies.
The chartered accountancy programme is of two-year duration, which is not inclusive of the training period. It comprises of three sections – professional education I and II and a final exam. While students can register for professional education I and II at any time of the year, exam are conducted only in the month of May and November. However, it is mandatory that a student should register at least ten months prior to the exam.
Articled and Audit Clerks:
Students can register as articled or audit clerks after completing the professional education II exam. Those opting for auditor clerkship must have compulsory computer education. Audit clerks train under a practicing chartered accountant for a minimum period of one year.
Eligibility:
To register for the professional exam I candidates must have passed 10+2 exams. Those awaiting results can also register. There is no minimum and maximum age limit to join this course.
Exemption from professional exam I: Graduates with commerce as main subject should have secured 50% marks. Non-commerce graduates with subjects other than Mathematics should have scored an aggregate of 55% marks. Non-commerce graduates with Mathematics must have an aggregate of 60% marks. These students can directly register for professional exam II.
Other exempted students are those who have completed the final exam conducted by the Institute of Company Secretaries of India (ICSI) or the Institute of Cost and Works Accountants of India (ICWAI).
Jobs and careers:
Chartered Accountants may find employment in business establishments, industries, capital markets, share market, banks, etc. They can be employed in the capacity of a finance manager, finance controller, finance advisor or finance director depending upon their capability and experience.
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