Accountancy is a profession that concerns itself with day-to-day operation of a company. Accountants balance the books, tracks expenses and revenue, execute pay roll, and pay the bills. Issues related to mobilizing capital, fund raising, budgeting financial projects etc. are negotiated by the finance department of the company.
Profession in brief:
All business houses require the services of trained accounts personal. Hence, the demand for specialists in this field is very high. A person who wants to pursue this profession must not only have the good proficiency in mathematics but also the sound grasp of facts and figures and a good judgment and analysis.
Scope of employment:
Accounting jobs are available in all sectors of business such as advertising, banking, manufacturing, media, public service, finance consultancies etc.
The field of accountancy has over the years branch in to two broad streams-chartered accountancy and cost and work accountancy. After completing +2 or equivalent program in science, commerce or arts, the aspirant can specialize in either of these branches.
The pattern of training for the chartered accountancy course has been revised with effect from October 2001. Instead of foundation and intermediate examination,
We now have the professional education-I and professional education-II
Examination. The papers and syllabus also stand revised and updated in
Tune with the emerging trends. The new pattern is as follows:
1. Fundamentals of accounting
2. Mathematics and statistics
4. Business communication and organization and management
3. Business and corporate laws
1. Fundamentals of financial management and costing
2. Income tax and central sales tax
3. Information technology
2.Advanced financial management
4.Corporate laws and secretarial practice
2.Management information and control system
After the plus two stages, student can launch their program comprising two parts that can cover in nearly two years. Those who have the university degree with the prescribed minimum marks can however skip the PE-I hurdle and directly join the PE-II level training. Students have to undergo the postal tuition arrange by the institutes. They may, if interested, attend the oral classes organized by the Accredited institutions. One significant change that has been introduced that the student can start the 3year practical training as an articled clerk in a CA's office only after passing the PE examination and completing the prescribed computer training. During the last six months of practical training and thereafter, students can appear for the final examination. After passing the final examination, candidate has to undergo the short program on general management and communication skills. A brilliant and hard working student can complete the program in the total period of five years, become an associate member, obtain a certificate of practice and enjoy all the privileges and prerogatives of the chartered accountant. There is no objection in undergoing the regular academic program in a college during his preparation for the PE courses. ICAI's accounting professional education directorate also conducts post qualification courses in management accountancy, corporate management ad tax management it also conducts conferences and seminars to update skills of its members and enhance their professional acumen.
Future prospects of CA:
CA'S can either find employment in government service, private sector or in consultancy services. The complications of tax planning, new methods of computing costs and budgeting, innovations in management accounting, share valuation, amalgamation, take over bids etc. have made the role of accountant important, challenging, competitive and invaluable. The ca has lot of scope for employment both in India and abroad.
Name of Colleges/univesity/institutes
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