CA Foundation, Chartered Accountant

Main Qualities in Students for Qualifying Chartered Accountancy (CA)

Students these days have plenty of tasks and questions in their minds when they are about to complete their 10th or 12th Standard. After the Pandemic this vacuum has increased considerably. Many students have faced a lot of difficulties in their sessions of 10th and 12th both online as well as offline.

Taking different subjects and selecting the right course of path is as difficult as selecting the first step towards schooling.

In Fact it is considered as a decision for lifetime wherein your choice will actually decide the whole career. After passing out 12th standard, every Commerce student wants to pursue his career wherein he would excel like anything and should also have at least following characteristics.

  • Learning of concepts with practical implementation in the corporate world
  • Linking your books with the actual processes undertaken on the office desks
  • Practical work promotes experiential learning.
  • Gain Clarity on the path to be taken going forward
  • How to prepare yourself for Post Covid Academic World and Employment?

There are various best professional types of options which are available for the commerce students after passing the 12th standard.

The Chartered Accountancy Course is a distance learning professional course offered by The Institute of Chartered Accountants of India, although very popular among the commerce students. It is a professional course which is not only a reputed one rather is very lucrative in terms of salary.

Infact Chartered Accountancy is one of the most sought after and the toughest examination in the country as far as the professional accountancy examinations are concerned.

Students who are interested to pursue this course has to undergo different stages of examinations along with some practical training sessions. The Institute of Chartered Accountants of India provides a three level CA program comprising the following 3 stages.

The different stages of examination includes the following-

  • Foundation Programme
  • CA Intermediate Programme
  • CA Final Programme

As all of us understand that now a days, there’s a great emphasis on adherence to norms of efficient Corporate Governance and Risk Assessment, hence the demand of professional of Chartered Accountants have also risen especially after enactment of Company Act 2013.

Qualifying Chartered Accountancy

Chartered Accountancy being a very lucrative profession opens up various career opportunities for the qualified candidates. Also it is to be noted that Chartered Accountancy is an in demand and a secure profession.

Irrespective of their size, almost all companies need to have Chartered Accountants. Apart from these all there are other major reasons for doing Chartered Accountancy Examination and becoming Chartered Accountants, which are as follows-

1. Chartered Accountancy gives avenues for various career options 

After qualifying chartered accountancy, the candidates have numerous options with themselves like getting into the job or doing their own professional business or practice or on partnership basis-

a. Auditing Jobs

b. Taxation Jobs

c. Finance Jobs

2. Chartered Accountants are well paid professionals

There is no doubt that Chartered Accountants gets handsome salary/ income from whatever option they chose. They are considered as highly paid in the companies and when it comes to practice/ own business there is no limit once they decide the type of business they chose to proceed with. 

The take home salary once they decide can vary between Rs. 5 lacs to Rs. 10 lacs but with experience the rise and growth can be exponentially high.

3. Varied Career Paths

When into job, the Chartered Accountants can select as many options for them as they think for. These days Chartered Accountants play a very major role in helping companies grow and succeed. They also act as business advisors and they may not always be in forefront but still an intrinsic part of the strategy making and planning. They also occupy various critical positions in business setting. 

While acting as business advisors they also help the business owners to reach to a higher level of profits and excellent margins. Over the years the experience and skill set acquired by them have actually helped them in establishing their own Chartered Accountancy Firm.

4. International Benefits and Operations

The demand for CAs in the foreign market is getting higher and higher day by day and infact at a peak right now. If anyone has anytime dreamt of settling abroad then this is the right choice for him.

The demand for CAs in the foreign market is as much as the demand is in India. Pursuing CA would be a great option for you if you are thinking of starting your international career.

5. Vast Learning and a Secure Profession

Chartered Accountancy has evolved like a secure learning platform for all the candidates who aspire to learn something new and exciting every time they start their career.

Even there is a big misconception that Chartered Accountancy is only about numbers, rather it carries vide knowledge and coverage when it comes to different subjects and approaches.

The program also helps the aspirants to develop a good understanding of business, great expertise in finance-related subjects, and technical skills as well. This type of training helps CAs adapt to and work in almost any sector nowadays. For those who have an entrepreneurial streak, the CA program also offers a good foundation for starting their own business.

Skills required for Chartered Accountancy Students

Being one of the toughest course in India, students pursuing the same should carry set of certain attributes and skills for being successful in domain, which can include following but not limited to these-

  • Discipline, diligence and hard work
  • Conceptual understanding of the subjects
  • A head for numbers considering accuracy and speed in general mathematics
  • Analytical skills are a must for CA students
  • Communication skills while dealing with different industries and clients
  • Ability to accept failures and having positive attitude

Being toughest course, there are chances of failures and success both at the same time for which the students should carry positive spirit and attitude.

Discipline Qualities in students for qualifying Chartered Accountancy Examination

1. Ensure complete understanding of the CA Study Material provided by ICAI

Go through those study materials along with some reference books as recommended by experts. 

Conceptual understanding and correlations among various topics are the best strategies you can adopt while preparing for theoretical topics because everything is correlated.  Don’t focus on memorizing, but understanding and analysing the topic.

2. Practice of making notes

While studying the chapters make short and handy notes of the topics. This will not only help in noting down the important points but also help in remembering the topics for the future.

Keep a small notebook handy while studying a new chapter. Focus on writing for theoretical subjects. It will not only improve the writing speed but also help remember the topics easily. Practice as much as you can before the exams, do the writing instead of just learning formulas.

3. Start with a proper Time Table

Prepare a timetable or study routine so that all the CA Syllabus is covered within a given time period. It is necessary to dedicate most of the time to CA Executive exam preparation. The aim should be to complete one chapter at a time. After doing that, refer to the practice manual, scanner, and gauge if the coverage is maximum.

Time tables can be made on a weekly or monthly basis with breakups in between.

4. Setting targets

Set targets for a day that is achievable. Do not set such targets which are impossible to achieve. It will only lead to exam burden and not help in any way.

Aspirants must try to finish the entire syllabus at least three months before the main exam. One and a half months should be dedicated for revision. During the revision phase-only go through the previous chapters which are completed, and focus on improving the weaknesses

5. Analysing the actual performance very week

Analyze every week’s target and check if there are any backlogs. Monitor the effort put in and revise the schedule accordingly.

6. Never Do following-

  • Never go with selective topics, go through each and every concepts and chapter thoroughly.
  • Never refer old study material. Before every attempt, you can find all the supplements, practice paper, ICSI Study Material, amendment of all sorts in every subject 
  • Try to finish your revision beforehand, do not leave anything undone or partly done. Time management is the key.

Ca Salary in India: Chartered Accountant Average Earnings 2022

Although the salary and remuneration depends upon the skill and experience of the candidate also but at the same time this profession brings atleast minimum security on account of financial front. If we arbitrarily try to bring an estimate on the basis of experience of the candidate, then some picture may come out like below-

Years of experienceSalary can range upto
0-5 yearsRs. 7 lacs
5-10 yearsRs. 12 lacs
10-15 yearsRs. 20 lacs
15-20 yearsRs. 30-40 lacs

The demand for CAs in the foreign market is getting higher and higher day by day and infact at a peak right now. If anyone has anytime dreamt of settling abroad then this is the right choice for him. The demand for CAs in the foreign market is as much as the demand is in India. 

As per the profile offered to them , their salary varies from role to role. For instance-

Role ProfileEstimated salary per annum
Financial officer in the companyRs. 35 lakh
Account executiveRs. 5-10 lakh
Accountant- in accounts depttRs. 15-25 lakh
Finance controller jobRs. 10-19 lakh
Managerial Role- Finance managerRs. 10-15 lakhs
Financial analyst profileRs 6- 8 lakh
Assistant account managerRs. 5-7 lakh
Senior account executiveRs. 4-5 lakh
Senior AccountantRs 3.5- 5 lakh
Business analyst roleRs 4- 5 lakh
Account assistantRs 2-5 lakh

Location based salary structure

The remuneration of the Chartered Accountants also vary from the location in which the job profile is posted, for example in Gurgaon the salary will be higher as compared to Punjab region.

Similarly if we talk about Chennai or Mumbai region it will be even more than Gurgaon and far higher than Punjab region. Normally maximum Chartered Accountants opt for working in and around Delhi region. Other regions include Pune, Ahmedabad, Jaipur as top locations among others across India.

Now lets study some highest paid employers for Chartered Accountants Nationally as well as Internationally

EmployerCA Salary per annum (Avg)
Reliance IndustriesRs. 25-45 Lakhs (Highest)
Hindustan Unilever LtdRs. 10-36 Lakhs
DeloitteRs. 14-35 Lakhs
KPMGRs. 14-32 Lakhs
Aditya Birla Sun LifeRs. 13-28 Lakhs
ICICI BankRs. 11-27 Lakhs
ITCRs. 10-25 Lakhs
TATA companyRs. 10-22 Lakhs
Bharti AirtelRs. 12-22 Lakhs
SBI BankRs. 6-17 Lakhs

Source: CA Salary In India

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