I remember when I was in class 10, and some professors from a CA coaching academy had come to my school to explain about the CA course to us. All along my childhood and teens I had observed my grandfather while he went about his duties in his profession as an extremely successful and busy practicing Chartered Accountant. Naturally I had developed a positive mindset towards this profession possibly in the back of my mind, and this particular visit by these professors only fuelled my interest.
The CA profession is one of the most respected in India. It is also one of the hardest qualifications to obtain. One certainly needs a lot of passion, perseverance, determination and dedication to complete this course. In return, this qualification offers a huge set of benefits to Chartered Accountants.
I'm sure each of us has different reasons to become CAs. To those of you who need some encouragement in the direction, I have tried to quickly summarise the reasons one should opt for the CA course.
1. Eternal demand for CAs
With the ever-growing businesses both in India and all over the world, the requirement for financial professionals is growing. Finance being the lifeblood of business, Chartered accountants play a very crucial role in managing the finance and accounting aspects of businesses and hence are in constant demand by the country. Chartered accountants are known to be extremely knowledgeable and indispensable and hence their services will always be in high demand in the economy.
2. Attractive remuneration
The pay package of CAs is quite attractive.
The starting salary itself is quite good, and thereafter it is on the increasing side and synonymous with the experience levels. Added to that, there is so much scope for CAs in practice and with the right kind of opportunities they can earn quite high.
It is a good reward for all the hard work put in by the professionals whilst they were students.
3. Flexibility and mobility in career
After qualifying as a CA, there are so many career options that can be pursued. A CA can work as a salaried employee in the corporate sector which includes MNCs / Government sector / PSU / Banks etc. That means they can get placed in any organisation since all organisations need to manage finance. These encompass various portfolio options and provides them a very wide range of career opportunities with an equally good remuneration too. A CA can engage in own practice, and specialise in a particular area such as direct taxes, audit, indirect taxes, consultancy etc. Alternatively he or she can also join a consultancy firm and practice.
4. International opportunities
The Institute of Chartered Accountants of India is well recognised abroad such as in England, Wales and Australia, etc. The ICAI has entered into memorandums with several countries so as to enable its members to practice in these countries. Since CAs are in demand not just in India but aboard as well, persons desiring to settle abroad can very well do so just as in the case of any other profession. This does not in any way undermine the prestige of working in India (after all it is just to work for the country that raised us)
5. The ICAI benefit
The ICAI which is the governing body for Chartered Accountants, is one of the best professional organisations. It has one of the best rankings on the professional arena. This by itself gives CAs an edge over other professional qualifications.
Now here are a few interesting reasons to become a CA!
Prestige of the signature
No matter how easy or difficult it was to clear CA for each person, their signature holds value to them. And let's accept the fact - the signature of a CA has immense credibility to the world outside as well
No reservation, only hard work
Here is one course where no one is given any reservation. A person becomes a CA exclusively through pure hard work and dedication.
Technology can't replace CAs
No superior technology or artificial intelligence can ever replace a CA. AI might be helpful to reduce mundane tasks performed by CAs, but it can never become a substitute for high order accounting and finance roles done by them.
Apart from the above, the CA course provides a solid foundation for career growth, is not very expensive (although coaching and books will involve additional cost), and requires only a reasonable duration to complete given the value attached to the qualification. Hence the CA profession by itself is a glorious one. Added to that, CAs are provided practical training during their study period which makes them gain hands on experience by the time they clear the exams. Finally, the very nature of the profession demands constant updation of knowledge by the professionals which paves the way for continuous learning. The Institute also provides soft skills training as part of the curriculum which provides CAs with additional mandatory skills required to survive and flourish in the professional world.
Thus, despite the fact that the CA course is challenging and extremely hard to clear, it is indeed one of the most rewarding and respected professions in our country.
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