Established in 1849, Chartered accountancy(CA) in India is regulated by the Institute of Chartered Accountants of India (ICAI). Chartered Accountant course is very popular in India, US and UK. Students need to have formal education, preferably in commerce till at least class 12. They have to clear the qualifying exams by ICAI and thus be eligible to be trained for CA.
How to become a Chartered Accountant
Chartered Accountancy in India can be pursued after class 12 or graduation. The whole course can be summarised as follows:
The foundation course is for students who complete their class 12. It is a yearlong course, mostly taken up in a distance education format. Upon successful completion, students can apply for internship (article ship) with any experienced CAs.
After the final examination, you need to gain membership to the ICAI before they can start practicing as a CA.
Having a professional qualification ensures that one doesn't have to start working at any entry level jobs. Typical designations for CAs are:
These jobs lead to senior management roles such as
Typically, it takes about 10 years to reach the above roles. Chartered Accountants also have plenty of opportunities in:
Professionally qualified Chartered Accountants are required for research, preparing project reports and do budget planning along with cost analysis.
Opportunities for chartered accountants
Chartered accountants perform a variety of functions. A few of them are listed below.
A chartered accountant can also act as an arbitrator to settle disputes concerning insolvency and company fraud.
Salaries of CAs employed in public or private sector companies vary depending upon qualification and experience. Average salaries at junior level are 10000 to 15000 per month while person with 5 years experience can expect to get 50000 to 60000 per month.
Chartered Accountants who are engaged in consultancy and private practice also earn enviable incomes depending upon the numbers and kinds of clients they have.