One of the happiest moments to make dreams come true is to clearing the Chartered Accountancy exam. There are tough decisions you need to make in this position. After completing the chartered accountancy exam, most students don’t know what kind of job to choose. As for the chartered accountancy sector, globalization generally includes many fields other than related auditing and taxation.
To pursue this field requires different skill sets to avail such opportunities and one needs to enhance their skills. Each subjects under the CA final exam offers you a wide variety of career options. This article is meant for all successful candidates who qualify as a Chartered Accountant. Students who wish to enroll in this course can benefit fully by joining the College of Commerce.
This is one of the challenges faced by a newly qualified Chartered accountant. In today’s competitive world, it is very difficult to practice as sole proprietor. It covers huge costs to set up an office. Alternatively, you can start a joint venture with 3 or 4 chartered accountants. There you can expand the scope of services. The next option is to start LLP firm in accordance with the LLP act 2008, read with rules 2009. Here a chartered accountant can enter into practice with,
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- Chartered accountant in practice
- Cost accountant in practice
- Company secretary in practice
- Advocate as defined by Bar Council of India
- Actuary professional
- Architect professional
- Engineer in chartered
In this practice a client gets all the services in one place. You can join an existing company of mid-size as a partner. This is another option.
After 5 to 6 years working as an audit manager in a big firm, CA can become a partner. This practice is now becoming common practice among companies in cities. A Chartered Accountant who is very interested in practice should explore areas such as Taxation, Management consultancy services, Auditing. Also, every partner in the firm must be an expert in one area. A practical certification is mandatory.
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Becoming a partner of big audit/consultancy firms
Global auditing/tax/consulting firms are the interest of the current generation. At the same time, to become a partner in global firms, from working in that organization to reaching different positions from manager to associate director, and eventually becoming a partner.
Due to pressure in the field, the current generation is leaving it and moving elsewhere.
It is ideal for those who prefer government related jobs. They should aim for civil service courses, and then they qualify positions as the President of the Income Tax Appellate Tribunal and the Chairman of the Securities Exchange Board of India. This can be achieved only after working for many years in a governmental organization.
Be an entrepreneur
The dream for every individual is to become a successful entrepreneur. If an entrepreneur wants to take his career to the great heights, he must focus on the full dedication. To be a good entrepreneur you need to have innovative ideas and skills, creativity, analytical skills, broad mind business tactics.
To start a career in an industry, you must first have work experience in the industry. An entrepreneur must be unique, and think about expansion diversification. And the growth of the business should be the primary focus. A successful entrepreneur must also be a well-established industrialist.
Career in industry
The current generation can choose from their initial stage of a career-manufacturing, information technology, automobile, steel, and a variety of other industries. It is good to be the field they want. The main challenges are to satisfy both the needs of the employer and the objectives of management. You also need to know ‘Corporate challenges what the employer expects.’ But satisfying the management requirements, investors needs, they can achieve high positions like a chief financial officer. But only those who are consistent in performance can achieve such high standards.
A career in the Insurance field
This is a great option for those interested in the sector of risk management, insurance policy and other matters related to insurance. Knowledge of finance is very important and necessary here.
In today’s modern world, there’re good opportunities for both industry and practice. They have their own pros and cons. Those who are interested in a career in practice or are interested in government jobs may also work as part-time faculties for the following institutes:
- Orientation course organized by ICAI.
- Information technology training course organized by ICAI.