If you have your own business or work in a bank, you must have witnessed annual audits of all types of accounts and dealings being conducted by professionals. These professionals are chartered accountants or CAs. The road to becoming a chartered accountant is not as simple as most of you may think. It needs dedications and long hours of hard work in order to qualify or the title. Once a person becomes a chartered accountant, it is normally seen that he works in a chartered accountancy form for a few years in order to gain some knowledge and experience in the profession. After this, you can start your own CA firm.
What Actually Is A Chartered Accountant?
CA or chartered accountant happens to be an international accounting designation that is granted to various accounting professionals in several countries in the world apart from the United States of America. In the US, CPA or certified public accountant is the equivalent designation to a CA.
Understand About Chartered Accountant
If you become a certified chartered accountant, it means that you are qualified to file the tax return for any business organization or firm, conduct audits of various financial statements and business practices, and to provide proper financial advisories to your clients. In Britain during the year 1854 chartered accountants claimed to be the first ever accounting group that formed a professional body. In this modern era, you will come across several organizations that chartered accountants belong to in different parts of the globe. Some of these include the Canadian Institute of Chartered Accountants and the Institute of Chartered Accountants in England and Wales.
When it comes to the process of becoming a CA at https://thekalculators.com.au/, the rules and regulations may different from one country to another. As an example, in New Zealand, you need to complete a recognized academic program that includes a 3-year bachelor’s degree or even an accredited master’s degree that covers business topics and accounting as the primary subjects. Once this is done, you will have to go through a practical experience program successfully followed by a CA program. The basic aim of going through these programs is to help you get properly trained in modern accounting methods.
If you reside in Canada and wish to become a professional chartered accountant, you will have to complete an undergraduate degree with proper coursework in accounting and business areas. Once this is competed, you can go ahead and enroll yourself in a professional education program for chartered accountants.
Most of the time, you will notice that CAs mainly focus on one of the 4 primary areas. These include financial accounting and reporting, audit and assurance, taxation or management accountant and applied finance. Based on your area of focus, you may either handle a single aspect of a firm’s business or oversee all the accounting needs of a company or even work as a freelance CA who can easily deal with various accounting matters for a number of different clients at the same time.