Chartered Accountants are professionally qualified members affiliated with the Institute of Chartered Accountants of India, which regulates the functions of a CA and draws the rules and regulations for the profession.
It is indeed a matter of pride that the ICAI stands second in the list of large accounting bodies of the world in terms of membership.
An introduction to the course:
The Chartered Accountancy course is one of the most prestigious courses of the country. The ICAI has been able to retain the efficacy of the profession by ensuring that only the highly skilled goes on to suffix the degree to their names. The Chartered Accountancy examinations are so designed such that the market is not overpopulated with Chartered Accountants. This makes the CA examinations really tough to crack.
The Chartered Accountancy Profession:
Over decades, the chartered accountancy has gained a new dimension owing to the changes in the economic conditions, with globalization being the heart of change. As the economy developed, the demand for the services of a chartered accountant has also increased phenomenally. This is obvious from the statistics that as against a meagre 1700 members in the year 1949, today there are as many as 2.35 lakhs members registered with the Institute.
Reasons to pursue Chartered Accountancy course:
Though the course is very competitive and difficult to complete, the hard work, persistence and determination invested by the aspirants pay off really well. Here are few of the reasons why one should pursue the CA course:
- Chartered Accountancy is not only a high ranking course in India but has also gained international acclamation and has adequate scope in every part of the World.
- CA opens up wider range of choices in career. A chartered Accountant can practice on his own or work in the Industry. Hence, the course suits both people who wish to have a job in the Industry as well as those who wish to be their own masters.
- The CA is a promising and career-oriented course. In other words, demand for Chartered Accountants has only grown over years.
- The CA profession is a rewarding and high paying profession.
- A CA can pursue career in the multiple domains such as auditing, taxation, accounting, costing, etc.
- A CA gains direct entry to the elite managerial level in the beginning of his/her stint in the corporate world.
- The cost of the course is very affordable whereas. The cost of registration to the Final level of the course is approximately INR 10,000/-
- A CA qualification opens door for higher education such as CPA, CISA, MBA, etc.
- The eligibility to register for CA is merely a pass in 12th This paves way for students of various spheres to qualify as CA.
- The CA profession is very exciting and interesting as it involves decision making, analysis and checking for fraudulent practices.
- With the economy becoming favourable for start-ups, the demand for chartered accountants has been on a rise as they are best suited for providing financial and managerial consultancy.
- CA rides more on smart work than hard work. If you believe you possess an eye for the numerical details, an excellent analytical skill and judgement, CA is for you.
Some famous Chartered Accountants:
- Kumar Mangalam Birla: The chairman of Aditya Birla group of companies is an accomplished chartered accountant who has successfully led the group from a very young age.
- Rakesh Jhunjhunwala: Described as “the Pied piper of Indian bourses” by The Economic Times, Rakesh Jhunjhunwala applied the skills acquired through chartered accountancy course and went on to become one of the most successful investor of all times by managing his own portfolio through his asset management firm “Rare enterprise”.
- V. Mohandas Pai:The current chairman of Manipal Global education and an ex-member to the Board of directors of Infosys, was conferred with “the best CFO in India” award following his strong strategies enabled by his qualification.
Also read about the Indian Chartered Accountancy Course in Wikipedia.