Chartered Accountancy gained prominence, as a profession, somewhere in the 19th century. Today, it is recognised as a lucrative occupation, and regarded as a great career choice, with ample opportunities to forge ahead on the career front. Chartered Accountants are governed by the Institute of Chartered Accountant of India (ICAI), a statutory body that came into being through an Act passed by the Indian Parliament, in 1949. It is a well-defined job, with opportunities galore in the Govt, private sector, in fields pertaining to finance and business, within the country and abroad. It is a respectable and in-demand profession, which also pays well.
Anyone with Plus two can pursue chartered accountancy as their career. However, there is a catch. It is not among the easiest professions to get into. Don’t assume that studying commerce is all that you need to do. That is not true. You will need to cross a few hurdles on your way to becoming a chartered account. If you are an aspirant, be prepared to encounter fierce competition on your journey towards becoming a CA, for only a few are selected for the coveted programme.
Do not allow the fear of competition deter you because the perks of being a chartered accountant far supersede the initial struggle. Yes, you have to begin early if you want to pursue your dream of becoming a Chartered Accountant. The preparation starts right after class XII, a bit challenging at first, but rewarding in the end. Let’s give you the top five reasons why becoming a Chartered Accountant is an excellent choice.
The chartered accountancy
course is not one closed subject. It readies you to deal with various facets
related to commerce, which come useful as you shift job profiles. You start as
an accountant, at the lowest rung of the ladder and gradually move your way up
to maybe running a business.
Chartered accountants are in high demand, and opportunities are galore, in both the Govt. and the private sector. Large business houses hire their service as business advisors.
Chartered accountancy promises you job satisfaction. It is fulfilling as an occupation, allowing you to grow professionally. Chartered accountancy can be your ticket into the ‘big.’ world of business. In today’s world, Chartered Accountants play a significant role in helping companies forge ahead and succeed. They act as Business Advisors; they may not always be in the forefront, but still an intrinsic part of strategy and planning, a critical position, in a business setting.
As business advisors, the responsibility of propelling a business to greater heights, boosting the company’s profit margins and expanding its market share and dividends rests on their shoulders. Their job as business advisors is to help business houses formulate financial strategies that improve overall growth. Over the years, the experience and skill they achieve can help them in establishing their own Chartered Accountancy firm(s).
The ICAI is recognised globally, and that means that the ICAI alumni can find overseas employment, provided of course that they fulfil the Visa and other criteria. Countries that recognise the ICAI qualification are Australia, Bahrain, Canada, Djibouti, Dubai, Ireland and the United Kingdom. ICAI qualified Chartered Accountants can work in any of these countries. The statistics available are encouraging; over 14% of ICAI alumni are working overseas. And with some nations relaxing visa rules, for migrant workers, the doors of opportunities open for a better future abroad.
The take-home package of a fresh Chartered Accountant can be upwards of five lakhs, depending on the organisation, its size and location. There are instances of companies offering bigger packages (read seven-figure), to young entrants. The earning potential of someone who chooses to freelance or start their own business is unlimited. This is one profession where the salary increases, exponentially, with experience.
The ICAI is a premier institution recognised the world over. Unlike other courses, in other fields, where candidates shortlist institutions based on their ranking, it is different from the ICAI. Prospective candidates know it is ranked among the best on the international arena. Further, getting into the ICAI is no mean feat; it is an accomplishment in itself. You gain a competitive advantage that puts you ahead and helps you plan and charts your career.
However, these are the 5 Reasons Why to Become a Chartered Accountant. If you want to become a CA, then be up for the challenge.