All you need to know about CA Eligibility, Duration, Job Opportunities, and Advantages
Admin 29 Dec, 2023 CA Eligibility, Duration, Job Opportunities
A Chartered Accountant is the most qualified professional who has a wide knowledge of Taxation laws, Finance, and Accountancy. For most of the aspirants, CA is the holy grail of all the Financial certifications. There are several reasons behind choosing this course including long tenure and high earning potential, wide opportunities to work in the public and private sector, better quality of life, etc.
if you are planning to become a Chartered Accountant, then read our blog, which will help you know more about the CA course, exam, and job opportunities after becoming a CA. We will explain to you every detail about the eligibility criteria, job opportunities, and duration of the course in detail.
- What is CA?
- What are the main advantages of becoming a Chartered Accountant?
- Why should one pursue a career in CA?
These are some of the most common questions that come up when we talk about CA. This blog would be an attempt to answer all your queries on the same.
Who is a Chartered Accountant (CA)?
A Chartered Accountant is a professional who manages and leads Accounting, Auditing, Tax, Financial, and allied services to individuals as well as organizations. The Institute of Chartered Accountants of India (ICAI) is the apex body that governs and regulates the profession of Chartered Accountancy in India. A Chartered Accountant plays a significant role in the economy by advising individual clients and organizations on financial matters and ensuring compliance with statutory regulations.
The Chartered Accountants or the CA both are bound with lots of benefits and job opportunities. In India, CAs are recognized due to their extensive knowledge, hard work, and honesty. The main job of a Chartered Accountant is to maintain financial records for their clients and prepare the tax claims. The Chartered Accountancy programs are not as easy as it looks. Candidates can gain access to a lot of benefits when pursuing Chartered Accountancy professional courses in India.
CA Eligibility
The eligibility for pursuing CA along with qualifications is as follows:
You must have completed class 12th with Commerce stream or equivalent (Class 10 plus 2) from a recognized board of education.
Or
Bachelors degree/Master's degree holders or equivalent academic degree holders recognized by Central Government or State Government or UGC in any discipline except fine arts.
CA Course Duration
The CA course duration is divided into three levels and takes a total of 3 to 5 years to complete. It depends on the student how fast they clear the exams and move to the next level.
ICAI conducts this program across India in three parts
2) Intermediate Course (old syllabus)/ Integrated Professional Competence Course (new syllabus)
3) Final Course
Foundation Course
For students who are appearing/passed class 12th or equivalent examination with a minimum of 60% marks in aggregate of English plus four other subjects including Mathematics or Statistics as one subject for science students or Business Mathematics or Business Studies for commerce students.
CA is one of the most coveted jobs and exams in India. The Institute of Chartered Accountants of India (ICAI) conducts the CA exam twice a year. The CA course is not similar to other professional courses. A student who wants to become a CA has to pass three levels to become a Chartered Accountant.
Why is CA considered one of the highly paid jobs?
The average salary that a CA gets after completing their 3 years of articleship ranges from Rs 5 lakhs per annum to Rs 20 lakhs per annum. If a person becomes a Senior Chartered Accountant, then he or she can earn up to Rs 50 lakhs per annum. It totally depends upon the knowledge and experience of the person.
Advantages of becoming a CA:
The following are some of the benefits of becoming a Chartered Accountant:
1. Financial Stability
As compared to other professions, Chartered Accountants have better financial stability. They earn an average salary ranging from Rs 5-12 lakh per annum depending on their qualifications, experience, and the company they work for. The more they gain experience, the higher their salaries.
2. Flexible work options
You can take on freelance projects or choose to work from home or abroad. You can also choose to scale down your workload when you get older or when you have children etc.
3. You can work anywhere in the world
The best part of CA is that you can work anywhere in the world if you have this degree. Yes, its true, once you become a CA or CPA, no one can stop you. You just need to clear some exams to work there like IELTS and TOEFL.
Other advantages of becoming a CA
- The career scope of a CA is very high and he/she can get a good salary package in any industry.
- There are many industries that require Chartered Accountants for their work and therefore, he/she will have lots of opportunities to grab employment in any sector or industry that he/she likes to work in.
- A CA is respected very much in society and people expect him to be very knowledgeable and capable of giving excellent results for his/her job.
- A CA can set up his/her own practice if he does not want to work under anyone else and therefore, the scope to earn more money is always possible for him/her.
- CA courses help one to become financially literate by teaching all about financial transactions and how they should be handled by a financial expert like a CA.
- The status of a CA is very high in society and he becomes an important person who is required by all individuals as well as business entities to guide them with their financial matters.
Where can I find a good CA coaching center?
NorthStar Academy is a platform to provide CA coaching in the best possible manner. Our classes are dedicated to providing quality teaching to all the students and helping them to pass CA exams with flying colors. At NorthStar Academy, we excel at CA coaching with the best instructor Mr. M Irfat. We are preferred by our students because of the teaching our mentor provides, as well as the ease with which he makes all subjects easy.
Therefore, he is called the God of costing by his students. We have experience of more than 20 years in this field. We are well equipped with modern technology that helps to teach students in a better way. Our study material is designed by highly qualified and experienced teachers and each subject is divided into chapters which makes it easier for students to understand each chapter in detail. Contact NorthStar Academy for further details on CA training and related details.
What are my chances of getting a job if I study to become a Chartered Accountant?
As a Chartered Accountant, you can work in the following areas:
1. Audit
2. Direct Tax
3. Indirect Tax
4. Corporate Finance
5. Valuation
6. Forensic Accounting
7. Management Accounting
8. Business Advisory
The role of a Chartered Accountant is not just limited to being an Accountant but also extends to other areas of business like law and taxation. You can work with accounting firms like Deloitte, PwC, KPMG, and E&Y as an Auditor (first 3 years after passing all exams) or as a Consultant (if you want to be part of their consulting practice).
You can also work in industrial firms in the Finance department, especially in the Corporate Finance area (one of the most fun jobs). You can also work with government agencies - The income tax department, the Excise department, etc., or as a Forensic Accountant for forensic accounting or Valuation assignments (which are mostly lumpy). If you feel like being your own boss, you can open up your practice and serve clients at your own convenience and choice.
FAQs
1. What are the job opportunities for CA?
There are endless job opportunities for Chartered Accountants in private as well as public firms. You can either join a Chartered Accountant firm or start your own practice or can serve an industry.
2. What is the minimum time for CA?
The minimum time that you will have to invest in the CA course is 5 years. If you want to become a Chartered Accountant then you must pass the three levels of CA exams. The first level exam is Foundation which can be given after class 12th or after graduation.3. How can I be a successful CA?
The most successful CAs are those who can handle the pressure of working with a team and know how to manage it efficiently. They should be able to think on their feet and enjoy solving problems. They should also be prepared to work long hours around tax season, year after year. If you're not willing to work hard, this career isn't for you.Conclusion
Chartered Accountancy is the financial backbone of any business. Chartered accountants can work in public practice or in the private sector. The Chartered Accountant is a financial expert who helps individuals, businesses, and other organizations to manage their finances.
NorthStar Academy is the Best CA coaching institute for those who are trying to make their careers in Auditing and Accounting as chartered accountants. If you wish to become a Chartered Accountant then it is the best institute for you because of our faculty members and our course structure which will let you grasp all the concepts easily. If you still have any doubts then feel free to reach us out here or contact our expert counselors at +918147470707.