Chartered Accountant

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A Chartered Accountant is a professional who is a certified expert and responsible for managing monetary and related accounting, consultation on financial matters, especially law and taxes, and process other business finance needs like audits, insolvencies, returns, etc. They are also authorized by the authorities to a certain level of legal (notary) powers in some places, mainly attestations and some basic approvals on such matters.

How much does a Chartered Accountant make a year?

On an average, registered Chartered Accountants earn around 7-8 lakhs per year according to surveys by Institute for Chartered Accountants of India (ICAI). At the entry level, the salaries start at around 4-5 lakhs per year and with experience, these pay scales can go well over 25 lakhs per year or more. During the mandatory internships, pay scales like 2-3 lakhs per year are also commonly seen.

How to become a Chartered Accountant?

In India, becoming a CA is a long process lasting a minimum of 4.5 years and on an average, 6 years. After clearing your 12th, you have to appear and clear Common Proficiency Test (CPT) which is conducted twice every year. After clearing CPT, you have to clear IPCC examination which will be after 9 months. After clearing the IPCC, you have to go through a mandatory three-year articleship (internship and training) before facing the final examination. One can make several attempts to clear the final examination. After clearing the exam, you can register as a Chartered Accountant and start your career as one.

What is the career prospect for a Chartered Accountant?

The career prospects for a Chartered Accountant are ample due to the fact that every business in the world requires assistance from a CA. While most consult independent CAs, bigger companies and corporations employ Chartered Accountants on a salary basis. CAs are paid good as their experience increases and also, based on their performance. Apart from these, there are many consulting firms that specialize in these matters and employ CAs as employees and agents for bigger corporations. All this together and several other opportunities combined make Chartered Accountant very high in demand all over the world which keeps increasing by the day.

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