Career options for Chartered Accountants are unlimited as CA is highly knowledgeable in various fields. CA is deemed to be an expert in Taxation, Finance, Company Law, Costing, Accounting aspects, Audit etc. Chartered Accountants are the only person who can audit the Financial Statements of a Company or Partnership Firm or Sole Proprietorship Concerns etc.
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Chartered Accountants holds a very responsible position in our society – Honorable Prime Minister of India “Mr. Narendra Modi”.
The demand of Chartered Accountants has been rapidly increasing after some major decisions taken by Govt. including GST. But still, people are confused about the career options after CA. Hence, here we are sharing with you the multiple career options for chartered accountants which are the best options.
Career Options for Chartered Accountants
Start your Own Practice
Definitely, starting your own practice is the best career option for CA if you want to work hard and reach the apex. The practice has the benefit that you can invest your passion and talent for your own sake instead of utilizing it for anyone else.
The three things needed to start your own practice is Money to Invest, Entrepreneurial Skills and good network or ability to maintain such. Remember, this is not your family business, it is a startup and you have to work very hard to set up your business.
Initially, it might be possible that you have to face some difficulty in getting your clients but if you can, then don’t quit.
Join a CA Firm
People who want to get an experience as a Chartered Accountant and surely want to start their own practice soon prefer to join a CA Firm. Here candidates are able to learn all such work which they have missed during their articleship training. They learn how to deal with clients or how to file a case or deal with Income Tax officers. The candidates explore as much experience as they can in such years and later they start their own practice. The only loss is, CA Firms do not offer a high salary.
Join the Audit Firms
Audit Firms offers high packages to the Chartered Accountants like KPMG, Deloitte etc. This kind of industry chooses the maximum number of CA passouts in every attempt. Candidates explore a marvelous experience in such firms related to Auditing and Attestation work. But most of the candidates got frustrated due to the overload work pressure. While others who want to grow to take it as an opportunity. Joining the Audit Firms like The BIG 4 is the best career option for chartered accountants.
A general accountant could not handle the overall accounts of Bank and present them as per banking regulations and norms. Hence Banks need expert accountants who can join them on their financial strategies, funding, planning, maintaining accounts based on Banking regulations and norms. Here candidates get an experience related to the financial plannings, banking norms and it creates an opportunity to join the top leading banks.
Even after becoming a Chartered Accountant, people choose to go for some Govt. Exams like IAS/IPS/SSC/IFS etc. The efforts you have done in Chartered Accountancy makes you capable in clearing such exams also. Well, IAS/IPS are not like ordinary exams, you have to give your 100% in clearing such exams. Joining such courses along with the job could not be possible. This is one of the least opted career options for chartered accountants.
Join Company as an Internal Auditor
You can join some company as an Internal Auditor and make yourself responsible for its Financial planning, strategies, forecasting, Accounts, and Internal Auditing. Even after completing CA studies, you can pursue CIA (Certified Internal Auditor), this course has been offered by the Institute of Internal Auditors of India. The course will help you in getting a good job as an Internal Auditor and identify the things in a more practical way. Becoming Internal Auditor is one of the most unheard career options for CA.
Start as Teaching
Chartered Accountants has a wide scope of teaching. Thousands of students enroll every year for the Chartered Accountancy course. The teachers of Chartered Accountancy are earnings in lakhs per month. If you are interested and capable to do such job, then you can think about it.
Definitely, the scope of International Taxation has become widespread. The Institute of Chartered Accountants of India has also included it as a separate subject in the CA Final Course. With the passage of time, tax laws are becoming complicated and mergers, demergers, globalization, acquisitions, transfer pricing has increased the demand for Chartered Accountants who are expert in International Taxation.
After the implementation of GST in India, there is a huge demand for Chartered Accountants practicing in Indirect Taxation. Ordinary people are facing difficulty in understanding the complicated indirect tax structure. They need an expert who can guide them in a correct way to understand the complicated tax structure of GST. This is a Good career option for chartered accountants in India.
Everybody knows that CA’s are expert in Finance and Legal matters. They can handle the management of the company in a way better than an MBA. Ratan Tata has said, “I need MBA to run my business but CA to guide him on how to run the business”. Chartered Accountants are well versed with the tax system, corporate culture, finance, share markets etc. Hence, if you want to join the company as a manager you can do so. In addition, you can also pursue MBA.
These are some of the career opportunities for Chartered accountants in India available for the candidates after becoming a Chartered Accountant. Hope this article will help you in finding the right career path as per your choice.