WHAT IS CHARTERED ACCOUNTANT ?

Who is a CA?

Chartered Accountant or CA deals with financial matters in a business which includes taxation, auditing, general and financial management. They are employed by the government sector as well as by private companies. With the seemless growth in start ups, along with the international relations that are monitored by the government, Chartered Accountants are hired to take care of the revenue and expensesBeing accustomed to the financial laws and regulations of the countries, they act as an adviser and help businesses to remain profitable. Every country has its associations that act as governing bodies for these professionals.

The certification of chartered accountancy is awarded to an accounting professional who has earned his/her registration from an authorized body that is related to oversee matters concerning accounting and taxation of a business.

What does a CA do?

There are four specializations that a chartered accountant chooses from namely – financial accounting and reporting, management accounting, applied finance, and taxation. They can be in charge of the whole accounting department of the business or each CA can focus on a narrower single department. The list of funtions that are performed by a CA are listed below for your reference.

• Chartered Accountants act as a trusted adviser who manages the business by giving it a financial direction strategically. 
• They generate financial statements monthly and annually which is highly useful in making decisions regarding the performance of the company
• As they are familiar with certain rules, regulations, and laws, they are responsible for implementing changes and solving the financial problems of the company
• They work as management accountants, business analyzers, sales managers, and corporate leaders in business and industry. Chartered accountants in the public sector have a huge role to play as they look after public spending by strategically monitoring and allocating resources.
• Some chartered accounts also work as consultants and freelancers as it helps them to grow with the different projects, following the changing market trends and the new forces.

Roles and Responsibilities of a CA

The following section highlights the major responsibilities of a CA and describes what a CA does after qualifying the necessary exams.

• Company’s Financial Adviser: A chartered accountant acts as a financial adviser in the company. He/she provides authentic and factual advice and information to the client. They render advice to the clients related to business development, tax planning, financial risks, business acquisitions, and mergers. They advise on the matter of selecting executive personnel in the field of marketing, production, data processing, general administration, accounts, etc. 
• Conduct Financial Audits: They are responsible to check and prepare financial statements and ledgers which is considered one of the primary practices of a chartered accountant. Auditing exposes a chartered accountant to work in different sectors and increases their skills along with experience. They submit reports and recommendations after the audits which are essential for decision making.
• Acts as a Financial Accountant: The chartered accountants participate in financial decisions regarding mergers and acquisitions as well as pay visits to the customers or suppliers to talk and business or set up a new account. The role of financial accountants requires a remarkable knowledge of finance and account. 
• Safeguards the Reputation of the Company: They are in charge of preventing and checking any fraud or financial irregularities in the company. The financial statement which is prepared by a chartered accountant monthly or annually is responsible for building up a reputation in the market. It displays the financial fluctuations, incomes, and expenses of the company. 
• Perform Budget Analysis: They prepare and maintain financial budgets and statements of the organization. There are plenty of negotiations involved in the work of budget analysis so candidates need quantitative as well as soft skills. They check organizational spending and plan the budget strategically intending to make a profit at the end of the day. 
• Management Consulting: A chartered account also looks over consulting services which include preparing management information systems, designing the budget, analyzing ways of effective allocation of resources, and installing the cost accounting system. They offer measures to the organization for the proper use of working capital as a way to increase productivity. They assist in drafting a prospectus that contains features of preparation of the public budget, brochure etc. 

Skills Required to Become a CA

The range of skills that are essential to become a  CA are tabulated below,

Top CA Recruiters

Some of the top recruiters for CA are tabulated below,

Salary of a CA

The average salary of a CA according to the job profile, experience, gender, and countries are given in the following section.

Average Annual Salary