CAREER

Chartered Accountancy as a Profession

A Chartered Accountant is like a doctor of Finance and Taxation. This
rewarding profession offers private practice and job opportunities both, in the
areas of accounting, auditing, corporate finance and other business laws,
taxation and corporate governance and even in academics.
Educational rigour along with extensive practical training that a Chartered
Account possesses is what the business and industry needs especially now
with the globalisation of Indian economy. Chartered Accountancy is a globally
acclaimed profession and is capable of offering a bright career to any young
talent.

Various Career options available with a Chartered Accountant are:

1. Independent Professional Practice:

A Chartered Accountant may start professional practice as a proprietor or join
any existing firm as a partner or staff member.
A practicing Chartered Account could offer various services, like:
Undertaking various types of Audit work such as Statutory Audit, Tax
Audit, VAT Audit, Compliance Audit, Bank Audit etc.
Providing all kinds of Management Consultancy services like financial
management, strategic management, planning and financial policy
determination
Corporate Consultancy by helping the business to secure loans,
preparing financial projections, etc.
Corporate Law Advice regarding company formation and structure,
liquidation and financial aspects
Project planning and advice on financial resource
Preparation of financial reports
Investigation of share valuation for takeovers, issue of capital shares,
amalgamation with other firms.
 Advisory services like business expansion, profit analysis, profit
improvement, joint venture programmes, etc.
Tax consultancy and representations with various tax authorities
Various certifications required by statues
Secretarial Practice and Procedures services
Information Systems management

2. Working in Industry:
In any industry CAs are generally found in the higher positions of the
Accounting, Taxation and Finance department. The regular role of CAs in
various areas are:

a. Financial accounting :
Financial accounting deals with keeping financial records. The job
involves interpreting accounts, supervising, controlling and organising
expenditure and income, etc. It includes compiling daily, monthly and
yearly management accounts.
b. Auditing:
CAs carry out internal audit to keep track of management procedures and
internal controls and ensure that records are accurate and controls are
appropriate. They review compliance with corporate policies and procedures.
c. Cost accounting:
Cost accounting deals with the complex business of working out what
particular operations, jobs, and products really needed to produce. It also
includes budgeting and budgetary control, forecasting and monitoring
expenditure to see that costs are not over-shooting.
d. Tax management:
CAs specialise as tax managers and assist in optimising the firm's financial
structure. They look at the tax implications of new plans, changes in company
structures, in fact any major decision. They advise on the tax effect of
performance goals.
e. Management accounting: Management Accounting is a task senior
chartered accountants perform. They collect, organise, collate and analyse
information from all parts of the organization. Make regular critical analysis of
past and present financial performance Make projections for the future.
f. Financial Management: CAs work in treasury department where all the
financial functions are performed by them. It involves estimation of funds
requirement, means of procurement and their effective utilisation. The role of
CA is very crucial here as the long term growth of the business is mainly
dependent on the proper financial management of the business organisation.