Career in Accounting
Nowadays, professional courses are in high demand. Everyone wants to get a better job by doing a professional course. But seeing today’s job market it is not enough to do BA, BSc, and BCom. To move forward in the career, you will also have to do some professional courses along with it. Accounting is such a career, which is needed by every small or big private and government companies. It is worth mentioning that demand for accounting professionals is increasing every passing day. Accounting has become a very demanding field in today’s era. With the expansion of private companies and the arrival of multinationals in the country during the liberalization period, demand for accounting experts like CA, ICWA, CS, Computer Accountancy is continuously increasing. Accounting is such an area in which your career graph increases rapidly. Most of the students of the commerce want to go to the field of accounting, but for the students of the other streams also, this field is open.
Chartered Accountancy i.e. CA
CA means Chartered Accountant. Chartered accountant holds specialization in auditing, taxation, and accounting. The CA Professional is becoming increasingly popular. Even small companies and businessmen also need CA to manage their economic issues. Indian chartered accountants are now in good demand abroad, especially in the countries of West Asia, Australia, and Singapore. The demand for chartered accountants in the industry is on the rise. However, CA’s work is quite challenging. If you complete the final course operated under the Institute of Chartered Accountants of India, you have the opportunity to do good job or practice in the areas of Accounting, Auditing, Corporate Finance, Project Evaluation, Company and Business Law, Taxation and Corporate Governance.
According to the Companies Act, only chartered accountants can be kept in auditing for a company in India. CA is accepted as the Associate of the Institute of Chartered Accountants of India (ICAI) after passing the final examination of Chartered Accountancy.
ICAI’s headquarters is in New Delhi. It has five regional offices in Kolkata, Kanpur, Chennai, Mumbai and New Delhi. Compulsory practical training is done with theoretical education in Chartered Accountancy’s Curriculum.
Eligibility for CA
For this, after getting the twelfth year after getting passed the CPT i.e. Common Professionals test can take admission. Students who do commerce graduate with auditing, commercial law, accountancy can also do this. Students of Arts and Science stream can also do CA course.
After clearing the CPT exam, three months of article ship training and 100 hours ITT training is required, and then it is necessary to get involved in professional competence, exams i.e. PCE. The eight-month audit training is equivalent to six months of article training. After the PCE, the final exam has to be given. After clearing it, you can practice or practice as a chartered person.
The CA course consists of three steps. First, the Common Proficiency Test (CPT) consists of four entry-level tests for Accounting, Mercantile Law, General Economics and Quantitative Aptitude. In the second phase, the Integrated Professional Competence Course (IPCC) has to be completed. This is the first such phase of CA curriculum in which only the working knowledge of the core of the accountancy profession and alloyed subjects are covered. The third phase is called the CA Final, under which advanced application knowledge of subjects like Financial Reporting, Strategic Financial Management, Advanced Management Accounting, and Advanced Auditing is covered.
After passing the IPCC group, an experienced CA has to do an article ship for a period of three years. During this, the stipend is also available.
If you want a course in Accounting
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Company Secretary Ship or CS
CS means company secretary ship. The company secretary is a professional course managed by The Institute of Company Secretaries of India (ICSI). According to the Companies Act, companies which have a paid up capital of Rs 50 Lakh or more are required to keep company secretary.
To become a company secretary, a candidate now has to pass foundation course, executive program and professional course, which was previously called Foundation Examination. The institute conducts an intermediate and final exam, and later the candidates have to do practical training. After this, he is considered eligible for company secretary membership.
Eligibility for CS
Candidates must have passed XII or equivalent examinations to do this program. Graduates who pass the final exam of ICWAI or ICAI can also join this program.
Cost and Management Accounting
Experts in the field of cost and management accounting do a very important job of making professional investment planning, profit planning, project management, and related managerial decisions. Courses related to cost and management accounting is operated by Institute of Cost and Works Accountants of India (ICWAI), a Government of India institution. It offers three types of courses – Foundation Course, Intermediate Course, and Final Course.
Eligibility for Cost Accounting
The minimum age for foundation course is 17. Students from the 12th pass or the twelfth examination from any subject are considered eligible for application. Generally, its exams are held twice a year in June and December. You have to enroll at least six months before the examination you want to participate in. Students can take admission in the Intermediate course, who have either passed the Foundation course or who have graduated from any recognized university (excluding music, dance, photography, and painting. After doing the course, jobs are easily available in the manufacturing, multinational company or service sector. By the way, after the course, you can join the Indian Coast Accounting Service of the Government of India or even practice it independently.
The work of cost and work accountancy comes under ICWA. This program is run by the Institute of Cost and Works Accountants of India (ICWAI). Cost and work accountants prepare a company’s business policy and give estimates for a project based on the old and existing financial performance.
To do this course the student must be at least 17 years old and he should be 12th from the recognized board of the Central or State Government.
Certificate in Accounting Technicians
The demand for accounting profiles is continuously increasing. In view of this, ICWAI has introduced ‘Certificate in Accounting Technicians’ course. The duration of the course is one year. There are two levels in this course – first, at the entrance level, “Foundation Course and second level specialization level” Competency course, in which all the technical skills related to accounting are taught.
This course can be done in Hindi in addition to English medium. For this, there is an examination twice a year. The application can be made for the December examination of the same year till June 26 and for the examination of June, the application can be made till December 18 of the pre-year. For more information regarding this examination, you can contact at the following address:
ICWAI Bhawan, 3- Institutional Area
Lodi Road, New Delhi-110003
Tel: 011-22418645, 22422156, 24622156
Nowadays the help of a computer is being used in every work. It is being used in the field of accounting as well. It can be understood from this fact that more than 10 Lakh accounting professionals are associated with this field in India today, which is increasing every year. For the skill required for this type of work, good knowledge of computer operation along with the basics of the accountancy is necessary.
Computer Accountancy is the new-age Accounting Course. Accounting in offices nowadays is not done by bookkeeping and laser, but rather through advanced computers and software. Computerized accounting is actually an IT-based course. You can become master of accountancy only after doing a course of 10 months. Practical and job oriented training is given mainly through computer accountancy, mainly due to business accounting, business communication, advance accounts, advance MS Excel, taxes, IFRS, financial management, income tax planning etc.
It is not necessary to have a background of commerce to do this course. After completing 12th or graduation, the job can be found easily as an accountant by doing an advanced course of CIA Plus. For this, there is no mandatory requirement of BCom or MCom, but if you want. You can get admission after XII in the course run by different institutes. Such courses are usually of a period of one and a half years. Under this course, all kinds of information related to commerce, banking, taxation, tax law, as well as information related to computer applications, financial accounting, advanced practical accounts, taxation, excise and service tax, payroll, investment, banking, and finance are given.
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