08 Jan 2020
#CareerBytes: All your questions about Chartered Accountancy (CA) answered
The career path for becoming a Chartered Accountant is challenging and aspirants might have a number of doubts regarding the course, eligibility, career prospects, and preparation.
Here are some important things aspirants should know about CA.
Eligibility, duration, and other CA program details
The minimum eligibility to pursue CA is 10+2 examination. After Class-12, aspirants can register for Foundation (four-month study period), pursue B. Com, and enroll for Intermediate (eight-month study period).
Next, they need to pursue Articleship (3 years) and clear CA Final. The course duration after 10+2 is about 4.5 years. Since CA program is quite difficult, its success rate -around 5%- is also low.
Online or Offline?
Online preparation v/s offline coaching for CA preparation
Some aspirants have a hard time deciding between offline and online coaching to prepare for CA.
While coaching institutes offer guidance/mentorship of experienced tutors and good material, online platforms also provide good quality study material and other resources. However, online preparation is a cost-effective option compared to coaching institutions.
Aspirants can alternatively go for self-study to prepare and clear CA exams.
Apps for CA preparation; websites for notes, study material
For online preparation, CA aspirants can take help of mobile applications like Unacademy, CA Study, EduRev's CA CPT Preparation, FinApp, ICAI's mobile app, Suphalaam's CA preparation apps, and Youth4work's CA - CPT IPCC Final Exam Prep app among others.
Career prospects and salary of Chartered Accountants
Chartered Accountants (CAs) have a wide range of job options. They can practice privately or work with companies.
CAs are involved in cost auditing, accounting, statutory auditing, tax-auditing, banking, etc. They are responsible for an organization's core accounting work among other things.
Similarly, their salary also depends on the type of job. The average salary offered to fresher CAs is around Rs. 6.5LPA.
Some famous Chartered Accountants in the country
Chartered Accountancy is considered one of the most difficult programs not only in India but also the world. But CA is also among the most prestigious and respected professions.
Some of the most famous Chartered Accountants in India include Kumar Mangalam Birla, former ICAI President TN Manoharan, Naina Lal Kidwai, Rakesh Jhunjhunwala, Radhe Shyam Agarwal, Union Minister Piyush Goyal, and Suresh Prabhu among others.