TOP SEVEN JOB PROFILES FOR A CHARTERED ACCOUNTANT!!

In India, Chartered Accountancy has become one of the most rewarding careers after liberalisation, privatisation, and globalisation has taken place. There is no doubt that many people would like to pursue a profession as a Chartered Accountant (CA) because we all know it has many advantages. According to the statistics, every year nearly 1 lakh students give the ICAI CA Exam.

After completing your CA, you have the option of starting your own private practice or working as an employee in a company. However, through independent practice or consulting services, many CAs ultimately become their own boss. It’s up to you what you choose.

Future After becoming CA: 

As we all know, Chartered Accountant is a very prestigious title. After gaining some experience, CAs can open their own practice or choose to join a reputable Chartered Accountant's firm. For becoming a successful CA and qualifying for your ICAI CA Exam you can take the help of those CA Foundation Books which cover the previous year question papers. Every company or organisation that is registered under the Company Act appoints a CA who oversees Financial Reporting, Tax Consultancy, Accounting Services, Auditing & Assurance, and Accountant & Finance Outsourcing. For a CA, there are many work options at present and in the future as well. 

If you are a CA, the following seven opportunities are there for you to seize:

·  GST Service Provider:

The need for knowledgeable Chartered Accountants in the new tax system has increased since the Goods and Services Tax (GST) was implemented in India on July 1st of 2017. A GST Consultant is someone who provides services to payers. Before starting his profession, he needs to be registered on the GSTN portal and obtain a certification.

 · Taxation in Other Countries:

Nowadays, there is an increase in the number of cross-border transactions, which has led to a rise in the demand for professionals with knowledge of International Taxation. Some of the essential areas where CAs would get clients and organisations include calculating the foreign tax credit of firms, legal and compliance work for building liaison offices for international organisations, as well as taking care of foreign remittances.

 · Internal Reviews:

As regulatory standards for businesses have become increasingly strict, qualified CAs are required to review records, reports, and operational procedures. As a result, internal audit businesses are expanding at a never-seen-before rate. 

 · Wealth Management

A professional service known as wealth management includes retirement planning, accounting and tax services, and financial and investment counselling for a predetermined fee. Chartered accountants have the option of working with private or public organisations or limiting their services to one particular client.

·  Startup Ecosystem:

The improvement in the startup ecosystem is evident to everybody, thanks to the current administration's emphasis on the "Make in India" program. These modern businesses would also require qualified personnel to manage their cash responsibly. As an aspirational CA firm, you need to be tech-savvy and efficiency-focused to pursue these startups for new business opportunities. Being a CA, one can get business loans for buying modern accounting software. It would be a worthy investment because this may significantly increase productivity and accuracy. 

· Plan Your Taxes: 

Over the past few years, the number of income taxpayers in India has doubled, and as the economy continues to become more formalised, this number is expected to increase much more. However, the complexity of taxes is unknown to the majority of individuals. More and more CAs are helping the average person and small enterprises by conducting a thorough analysis of their operations, choosing the most effective tax structure, and performing administrative tasks in accordance with tax regulations. Here, a business loan for CAs is helpful since it enables you to start your company and acquire the additional resources that you need to effectively handle the increased demand during tax season. 

Conclusion: 

Today the business and financial landscape is significantly more complicated than it was a few years ago. Therefore, CAs are in great demand nowadays for their dynamic management approaches and decision-making abilities. So to become a CA you should, without wasting any time, start preparing for the first stage of CA exams i.e., CA Foundation exams.

If you are wondering which CA Entrance Exam Books will be a good choice for your preparation, then you can refer the Scanners For CA Foundation as these books are based on the latest syllabus and contain previous year questions with solutions.

Thanks for reading and I hope you find this blog helpful. All the Best for your future endeavours!