Entry Level Qualification 

12

Career Fields 

Banking & Finance

For Specially Abled 

Career Entrance Exam 

IBPS CLERK, IBPS PO, SBI CLERK, SBI PO

About Career 

As a Chartered Accountant, you will be the custodian of all financial information of an organization - including financial statements, tax records, internal budgeting, or cash flow management. You will inspect, audit and certify whether the financial records, accounts, financial statements, and related information are true and are presented as per the financial standards required in India.

Some companies in India, which are publicly listed (meaning, their shares are listed in stock exchanges like Bombay Stock Exchange), are required by Indian laws to publish their financial reports to the public after the reports are audited by a Chartered Accountant. Some other companies, which are Private Limited Companies (meaning their shares are not listed in stock exchanges), are required to submit their audited financial statements to tax authorities. These statements must be audited by a Chartered Accountant before submission. Besides the public and private limited companies, all other organizations except the proprietorship companies, are required to get their accounts audited by a Chartered Accountant and submit the audited reports to the tax authorities. Under Indian laws, only Chartered Accountants can audit and certify financial accounts and reports to be true. As a CA, you will be playing a very important role in financial governance and tax compliance in the country.

The core responsibilities of a CA are:

1. Perform business analysis and play an active role in the financial decision-making of the company.

2. Perform a budget analysis for the company.

3. Maintain and keep track of the daily financial transactions and processes.

4. Conduct timely audits (of both government and corporate organizations) by collaborating with internal and external auditors to keep financial complexities at bay

5. Develop reports and recommendations after completing the audit process.

6. Provide actionable advice on mergers and acquisitions.

7. Train and supervise junior colleagues.

8. Offer strategic financial advice to company associates/partners and clients.

Key roles and responsibilities:

With the primary aim being maximizing the employer’s/client’s profits, a CA has to perform the following duties:

1. Review the company's financial records and systems and analyze the risk factor.

2. Prepare monthly/quarterly/yearly financial statements of the company.

3. Help minimize the tax liability of the clients by offering advice on tax planning and other tax-related issues.

4. Maintain the company’s accounting records and prepare accounts and management information reports.

5. Detect, identify, and prevent fraud and embezzlement.

6. Conduct timely tests to check the integrity and stability of the company’s financial infrastructure.

Career Entry Pathway 

Class 10 all subjects as per scheme of studies – 2/3 years Diploma course – Join 1st/2nd year of a graduation course - Join CA Foundation Course – Pass CA Foundation Examination – Join CA Intermediate Course – ICITSS – Appear for CA Intermediate Exam and pass in 1 Group of papers – Join articled training - clear all groups of CA Intermediate Exam– Join CA Final Course – AICITSS – Complete articled training – Pass CA Final Examination

After completing Class 10 with any subjects, you can complete a Diploma course from any institute recognized by Central or State Government in any discipline and then get admitted to any college in the 1st/2nd year of a graduation course. The Diploma course should at least be of 2 years. Only your admission to a college is necessary in this case (you may or may not complete full graduation course) to register for CA (Chartered Accountant) Foundation course under Indian Institute of Chartered Accountants of India (ICAI) or Institute of Company Secretaries of India (ICSI). Then you need to join CA Foundation Course which is for 4 months and pass CA Foundation Examination thereafter. Then join CA Intermediate course which is for 8 months and undergo 4 weeks of Integrated Course on Information Technology and Soft skills (ICITSS). You can then appear for the CA Intermediate Examination and pass in 1 Group of papers after completing ICITSS. You will then join articled training and clear all groups of CA Intermediate Exam. Then you will have to join CA Final Course while you are on your articled training and simultaneously undergo 4 weeks of Advanced Integrated Course on Information Technology and Soft skills (AICITSS). You will be able to appear for the Final Examination only after you complete AICITSS. Your articled training should be successfully completed or you should be serving the last 6 months of your articled training if you want to appear for the Final Examination. After passing the Final Examination, you can enroll to be a member of ICAI and to be designated as a Chartered Accountant.

Class 10 all subjects as per scheme of studies - Class 11-12 with any subject as per scheme of studies - Join CA Foundation Course and pass CA Foundation Examination - Join CA Intermediate Course - ICITSS - Appear for CA Intermediate Exam and pass in 1 Group of papers - Join articled training - Clear all groups of CA Intermediate Exam - Join CA Final course – AICITSS - Complete articled training - Pass CA Final Exam

After completing Class 10 all subjects as per scheme of studies then Class 11-12 with any subject as per scheme of studies, you need to join CA Foundation Course which is for 4 months and pass CA Foundation Examination thereafter. Then join CA Intermediate course which is for 8 months and undergo 4 weeks of Integrated Course on Information Technology and Soft skills (ICITSS). You can then appear for the CA Intermediate Examination and pass in 1 Group of papers after completing ICITSS. You will then join articled training and clear all groups of CA Intermediate Exam. Then you will have to join CA Final Course while you are on your articled training and simultaneously undergo 4 weeks of Advanced Integrated Course on Information Technology and Soft skills (AICITSS). You will be able to appear for the Final Examination only after you complete AICITSS. Your articled training should be successfully completed or you should be serving the last 6 months of your articled training if you want to appear for the Final Examination. After passing the Final Examination, you can enroll to be a member of ICAI and to be designated as a Chartered Accountant.

Class 10 all subjects as per scheme of studies - Class 11-12 with any subject as per scheme of studies - Graduation in Commerce with min. 55% marks - Join CA Intermediate Course - ICITSS - Register for articled training - Appear for CA Intermediate Exam after 9 months of practical training - Pass in both groups of CA Intermediate Exam - Join CA Final course - AICITSS - Complete articled training - Pass CA Final Exam

After completing Class 10 all subjects as per scheme of studies then Class 11-12 with any subject as per scheme of studies, then Graduation (Bachelor degree) in Commerce with a minimum aggregate of 55% marks, you can join CA Intermediate course and complete 4 weeks of Integrated Course on Information Technology and Soft skills (ICITSS). Then you need to register for articled training. Then you have to appear for CA Intermediate Examination after completing 9 months of practical training. You need to pass in both groups of CA Intermediate Examination and then join the CA Final course. Then you have to undergo and complete 4 weeks of Advanced Integrated Course on Information Technology and Soft skills (AICITSS). Then you need to complete the articled training and pass the CA Final Examination. After passing the Final Examination, you can enroll to be a member of ICAI and to be designated as a Chartered Accountant.

Class 10 all subjects as per scheme of studies - Class 11-12 with any subject as per scheme of studies - Graduation in Commerce – Post Graduation in Commerce with min. 55% marks - Join CA Intermediate Course - ICITSS - Register for articled training - Appear for CA Intermediate Exam after 9 months of practical training - Pass in both groups of CA Intermediate Exam - Join CA Final course - AICITSS - Complete articled training - Pass CA Final Exam

After completing Class 10 all subjects as per scheme of studies then Class 11-12 with any subject as per scheme of studies , then Graduation (Bachelor degree) in Commerce followed by a Post Graduation course in Commerce with a minimum aggregate of 55% marks, you can join CA Intermediate course and complete 4 weeks of Integrated Course on Information Technology and Soft skills (ICITSS). Then you need to register for articled training. Then you have to appear for CA Intermediate Examination after completing 9 months of practical training. You need to pass in both groups of CA Intermediate Examination and then join the CA Final course. Then you have to undergo and complete 4 weeks of Advanced Integrated Course on Information Technology and Soft skills (AICITSS). Then you need to complete the articled training and pass the CA Final Examination. After passing the Final Examination, you can enroll to be a member of ICAI and to be designated as a Chartered Accountant.

Class 10 all subjects as per scheme of studies - Class 11-12 with any subject as per scheme of studies – Graduation in any subject other than Commerce with minimum 60% marks in aggregate - Join CA Intermediate Course - ICITSS - Register for articled training - Appear for CA Intermediate Exam after 9 months of practical training - Pass in both groups of CA Intermediate Exam - Join CA Final course - AICITSS - Complete articled training - Pass CA Final Exam

After completing Class 10 all subjects as per scheme of studies then Class 11-12 with any subject as per scheme of studies then Graduation (Bachelor degree) in any subject other than Commerce with a minimum aggregate of 60% marks, you can join CA Intermediate course and complete 4 weeks of Integrated Course on Information Technology and Soft skills (ICITSS). Then you need to register for articled training. Then you have to appear for CA Intermediate Examination after completing 9 months of practical training. You need to pass in both groups of CA Intermediate Examination and then join the CA Final course. Then you have to undergo and complete 4 weeks of Advanced Integrated Course on Information Technology and Soft skills (AICITSS). Then you need to complete the articled training and pass the CA Final Examination. After passing the Final Examination, you can enroll to be a member of ICAI and to be designated as a Chartered Accountant.

Required Qualification & Competencies 

UGC has recently recognised the CA/CS/ICWA Qualifications as equivalent to Postgraduate Degree.

The best thing about building a career in Chartered Accountancy is that this course is open to all - anyone can take up this course after completing their higher secondary level studies, be it in Humanities, or Science, or Commerce. There are no set pre-conditions for pursuing Chartered Accountancy - if you clear the CA foundation level exam, you’re good to go for the next level of studies. So, you can either complete your Bachelor’s degree in Commerce or Accounting, or you can skip this step altogether and directly opt for the Chartered Accountancy course.

You can join the CA course after appearing for the 12th Board Examination. You have to enrol for the CA Foundation course with the ICAI (The Institute of Chartered Accountant of India which is the professional public accounting body in India set up as a statutory organisation under the Chartered Accountants Act, 1949. All CAs must be at least an Associate Member of ICAI to practice as a CA in India).

After passing the 12th Board examination, you can appear for the CA Foundation Examination consisting of 4 papers – Principles of Accounting, Business Law, Business Mathematics and Business Economics. After passing the CA Foundation course, you can join the CA Intermediate course.
However, after graduation or post-graduation in Commerce or any subject, you can directly join for the CA Intermediate Course. After passing the Intermediate Course of ICWA/ICSI also, you can directly join for the CA Intermediate Course. For Commerce graduates and post graduates the eligibility is obtaining a minimum of 55% marks in the university final examination. For other graduates and post graduates, minimum 60% marks is required in the graduation/post-graduation final examination.

A few important points about the CA course:

1. You have to do an Integrated Course on Information Technology & Soft Skills of 4-weeks duration under ICAI.

2. 3 years of article training (practical training) is compulsory. You can do it after passing the CA-Intermediate course or during the Intermediate course, after passing a few designated papers.

3. You have to do a 4 weeks' of Advanced Integrated Course on Information Technology & Soft Skills under ICAI.

4. You can take up the CA Final Course after passing the CA Intermediate Course.

5. You can appear for the CA final examination after completion of the 3-years practical training or during the last 6 months of the training.

Competencies Required

Interests

1. Enterprising: You should have interests for Enterprising Occupations. Enterprising occupations involve taking initiatives, initiating actions, and planning to achieve goals, often business goals. These involve gathering resources and leading people to get things done. These require decision making, risk taking and action orientation.

2. Conventional: You should have interests for Conventional Occupations. Conventional occupations involve repetitive and routine tasks as well as fixed processes or procedures for getting things done. These occupations involve working more with data, systems, and procedures and less with ideas or creativity.

Abilities

1. Abstract Reasoning: The ability to understand ideas which are not expressed in words or numbers; the ability to understand concepts which are not clearly expressed verbally or otherwise.

2. Articulation: The ability to speak clearly so others can understand you.

3. Deductive Reasoning: The ability to apply general rules and common logic to specific problems to produce answers that are logical and make sense. For example, understanding the reasons behind an event or a situation using general rules and common logic.

4. Numerical Reasoning: The ability to add, subtract, multiply, divide, and perform other basic numerical calculations correctly.

5. Originality: The ability to come up with unusual or innovative ideas about a given topic or situation, or to develop creative ways to solve a problem.

6. Problem Sensitivity: The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.

7. Selective Attention: The ability to concentrate on a task over a long period of time without being distracted.

8. Speed of Closure: The ability to quickly make sense of, combine, and organize information into meaningful patterns.

9.  Verbal Reasoning: The ability to think and reason with words; the ability to reason out ideas expressed in words.

Knowledge

1. Accounting: Knowledge of various principles and methods for maintaining records of commercial and financial transactions and records, preparing various reports and statements, ensuring compliance with commercial and business laws and rules of a country, etc.

Skills

1. Active Learning: Focused and continuous learning from various sources of information, observation and otherwise for application in getting work done.

2. Active Listening: Giving full attention to what other people are saying, understanding the points being made by others, asking questions, etc.

3. Coordination: Skills in working together with other people to get things done.

4. Judgment and Decision Making: Skills in considering pros and cons of various decision alternatives; considering costs and benefits; taking appropriate and suitable decisions.

5. Managing Financial Resources: Skills in determining how money should be spent to get the work done, and accounting for these expenditures.

6. Negotiation: Skills in bringing others together and trying to reconcile differences.

7. Persuasion: Skills in persuading others to change their minds or behaviour.

8. Problem Solving: Skills in analysis and understanding of problems, evaluating various options to solve the problems and using the best option to solve the problems.

9. Reading Comprehension: Skills in understanding written sentences and paragraphs in work related documents.

Career - Job Opportunities & Profiles 

For Chartered Accountants, job opportunities can come from any organization of any size or sector. However, the primary employers of CAs usually come from three areas - industry and commerce, public sector (local and central governments, not-for-profits, educational institutions, etc.), and private companies (small accountancy firms, SMPs, etc.). The demand for CAs is ever increasing since companies/organizations are increasingly relying on CAs to handle and manage the complex business, finance, and taxation matters.

1. In Chartered Accounting firms (typically the CA firms are run by senior individual CA or a few CAs forming into a partnership firm) - you will begine as an Associate after your CA Final examination.

2. In large scale consulting firms: In large scale consulting firms like KPMG and Deloitte, you will get a role as an Associate Consultant at the beginning of your career.

3. In various other companies across all industries: All companies recruit CAs in their finance and accounting departments. Typically, at the beginning, as an Assistant Manager.

4. There are several options to join Government agencies, defence services and public sector companies.

Work Environment

Essentially, Chartered Accountants work 40-50 hours a week. They work in an office environment. Most of their time is spent on working on their computers at their desk. Also, meetings (either with company partners, or employers, or clients) are an important part of a CA’s daily routine. There may be times when CAs are required to travel to other branch offices or client offices while working on various business projects.

Specilisation Tracks In This Career

Financial Accountant

Financial accountants maintain and handle a company's financial records and statements. Their job responsibilities include tax reporting, inventory processing, program administration, offering advice on financial and tax matters, to name a few. This job profile demands an in-depth understanding of both finance and accounting.

Tax Accountant

Every business/institution has to face certain tax matters, whether on a day-to-day basis or on a quarterly/yearly basis. Tax accountants are trained professionals who are experts in dealing with tax matters - from researching and understanding to interpreting the tax laws. They also prepare corporate income tax statements and formulate tax strategies for a wide range of tax and financial issues.

Management Accountant

Management accountants work alongside tax and financial accountants within private companies or public sector organizations. They take active participation in a company’s budget and business analysis. Also, they identify trends and opportunities, analyze and mitigate risks, and source funding for company operations. They act as supervisors to junior level accountants who perform the basic accounting tasks of the company.

Budget Analyst

Budget analysts are professionals who draft and manage a company’s financial plans. Furthermore, they also estimate future financial requirements of the company and perform functions like performance evaluation, policy analysis, cost analysis, prepare reports, and so on. They help companies allocate their financial resources in a way that ensures minimal risk and maximum profit.

Auditor

Auditors are professionals who specialize in audit work. Their primary duty is to check accounting ledgers and financial statements of corporations/government agencies and also whether or not the due taxes are paid on time. An auditor examines business practices, financial records, and other documentation to ensure that all the internal procedures and systems adhere to compliance norms.

Insolvency Professional

Insolvency professionals/practitioners are trained professionals who primarily deal in matters relating to insolvency and bankruptcy. They are licensed and authorised by the Insolvency and Bankruptcy Board of India (IBBI) and Insolvency Professional Agencies (IPAs). Their job duties are detailed within the Insolvency and Bankruptcy Code 2016 (IBC) and they perform a wide variety of functions not only relating to insolvency and bankruptcy but also in finance, law, and business administration.

Career Growth

Freshers can apply for entry-level and junior-level job roles such as Tax Accountant, Bookkeeper, Controller/Comptroller, Auditor, Budget Analyst, Credit Analyst, Finance Analyst, to name a few. For senior-level roles like Chief Accounting Officer, Chief Financial Officer, Director of Financial Operations, Accounting Vice President, Accounting Director/Manager, Management Accountant, Corporate Accountant, Senior Auditor, Senior Financial Analyst, and so on, you need industry experience and extensive knowledge about the finance, taxation, and legal aspects of business.

Salary Offered  

Chartered Accountancy is one of the highest paying jobs in the country with the average starting salary for entry-level jobs being around Rs. 25,000 - 60,000 per month.

The salary range increases as you climb up from entry-level to junior and mid-level experience job roles nearing around Rs. 55,000 - 200,000 per month.

The salary range for professionals with over 15+ years of experience is way higher around Rs. 1,00,000 - 15,00,000 or even more per month.

Monthly Earnings In Indian Rupee

1. Entry level: 0 - 2 years of work experience
2. Junior Level: From 1 to 12 years of work experience
3. Mid-Level: From 5 to 20+ years of work experience
4. Senior Level: From 10 to 25+ years of work experience (there could be exceptions in some high-end technical, financial, engineering, creative, management, sports, and other careers; also in the near future, people will reach these levels much faster in many careers and in some careers, these levels will have no meaning as those careers will be completely tech skill driven such as even now, there is almost no level in a Cyber Security Expert’s job)

Famous Personalities 

Not Available

Work Activities 

Essentially, CAs cover four areas in finance and accounting - financial accounting and reporting, taxation, applied finance, and management accounting. Their work activities include:

1. Addressing grievances and resolving conflicts: Handling complaints and grievance to resolve; resolving conflicts among co-workers or others at workplace or outside in relation to your work.

2. Analysing and interpreting data and information: Analysis of data and information to find facts, trends, reasons behind situations, etc.; interpretation of data to aid in decision making.

3. Assessing and determining compliance with standards, laws, rules and guidelines: Using relevant information, auditing information, processes and systems to determine whether organisations or people are complying with standards, laws, rules and guidelines.

4. Calculating and computing: Calculating or computing using various mathematical formula and functions using computers or otherwise; doing financial or commercial calculations or computations.

5. Communicating with co-workers and others: Communicating with people in writing, verbally or otherwise inside your workplace and various other people who have professional relationships with your place of work including vendors, government officials, etc. or with people at large.

6. Decision making and problem solving: Analysis of data and information; evaluation of alternative decisions and results of decisions; taking the right decisions and solving problems.

7. Estimating quantity, cost, time and resources: Estimating sizes, volumes, distance, and quantity; estimating and determining time, costs, and resources; estimating materials required to perform a task.

8. Getting Information and learning: Observing, hearing, reading, using computers, or otherwise obtaining information and learning from it.

9. Inspecting situations, events, and people: Inspecting situations, events and people to understand the reasons and causes for the situation or events to happen; inspecting people to understand reasons behind their behaviour and actions.

10. Organising, planning and prioritising tasks: Planning and organising tasks in order to achieve work goals; prioritising tasks to achieve goals and making the best use of the time available.

11. Providing advices and consultation to others: Giving advices or consultation to others about various issues, conceptual matters, know-hows, scientific matters, products or services.

12. Updating and using relevant knowledge: Keeping updated with the latest knowledge relevant to your fields of work and use of the relevant knowledge in getting things done.

13. Using computers for work: Using computers for day-to-day office work; using computer software for various applications in day-to-day professional work; entering data and process information; for writing.

14. Working in a team: Working in a team of people; developing team; maintaining professional relationships among team members.