20 October 2010 Hi

Value of Chartered Accountant
The growing importance of trade and industry along with the rapid growth of capital and money markets in an economically developing nation like ours, has increased the importance of Chartered Accountants enormously. Moreover all the companies registered under the Companies Act, are required to get their accounts audited only by practicing Chartered Accountants. A qualified Chartered Accountant has the option of joining the Government Service, Public Sector undertakings or taking up a lucrative assignment in the private sector. The duty of Chartered accountant is to ensure that the financial transactions of an organisation are maintained according to the law, they also keep track of cost of management of the company and manage tax matters.

Chartered accountants work as Finance Managers, Financial Controllers, Financial Advisors or Directors (Finance) and watch over the finances in the day to day management of companies. Their main areas of work include Accountancy, Auditing, Cost accountancy, Taxation, Investigation and Consultancy.
The accounting department prepares, analyses financial reports and documents of an organisation. Auditing involves checking the accuracy of the financial statements, ensuring that the accounts presented are drawn up on correct accounting principles. Cost Accountancy involves maintaining cost auditing records, compiling cost information, installing cost control and performing cost audits. Taxation involves dealing with direct taxes, like income tax and wealth tax, assessment of taxes, filing returns and providing advice on indirect taxes. Investigation include expert examination of specific aspects of businesses for the information of interested parties on new issues of share capital, the purchase, sale or financing of a business and for reconstruction. The various areas of consulting include Management accounting and internal audit, corporate law advice, project planning and finance, business advise, systems design and information consultancy. Chartered Accountants also act as directors, arbitrators for settling disputes, handling work related to insolvency, bankruptcy etc. and also as executors under a will or trust in order to carry out the administration of an estate or settlements. They are also engaged in activities like markets research, budget planning, working capital management, inventory control, policy planning, securities consultancy, registrar of issues of securities etc.
Some of the opportunities available for Chartered Accountants are in capital markets, business houses and industry. They can also have their own consultancy or private practice which could be more lucrative and satisfying. With the country liberalizing its policies and approach, opportunities are expected to grow further.
They are also well placed in government sector as director finance, chief executive or the Head Of the Department of the accounts, information technology etc. They help the government for proper implementation of accounting system.
Other career option: After passing the CA examination one could go for management Accountancy course; courses like Diploma in Insurance and Diploma in Information System Auditing.
Prospects Abroad : Institute of CA of India is well recognized by Institute of England, Wales and Australia. The members of ICAI can do practice or they can go for employment in these countries. ICAI is not approved by several countries like United Nations of America. Since ICAI is a member of the international Federation of Accountants committee and also international federation of Accounting Standard board, one can do their services in these countries. But for practicing they should undergo a particular examination conducting by the respective countries. The examination conducted by UNA is called CPA, Certified Public Accountant Examination.

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Ajay Mishra

Ajay Mishra (Expert)
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20 October 2010 Company Secretary, Career as Company Secretary
A company secretary is a top level employee in a company whose responsibility is to ensure that the company adheres to all the legalities set by the government therefore advises the directors on various policies and operations of the company. To have a company secretary has been made compulsory by a Government Act for large companies. Since the boost in economy in the recent years many companies have grown tremendously and new companies have emerged. Therefore the need and scope for company secretaries has also increased tremendously over the years. To become a company secretary one needs to do a professional course under the The Institute of Company Secretaries of India (ICSI).
The work and importance of a company secretary in a company is immense. The functions performed by a company secretary are varied like planning strategies, handling finance, legal and administrative operations. The company secretary also handles the sales taxes and the excise, labour and corporate laws. Basically a company secretary is the chief administrator in a company. Whenever a new operation or project is undertaken by a company a company secretary is responsible for ensuring that it is in tune with Government laws and policies. A company secretary has to be updated with changes and amendments in the laws, financial practices and other such things for effectively performing the duties. A company secretary also plans the corporate meetings and records the various decisions taken by the management.
The minimum educational qualification to apply for a company secretary course is 10+2. The course has three stages which are Foundation, Intermediate and Final. Foundation course is open for those who have only done 10+2. Those with graduation or a pass in final exams of ICWAI or ICAI can directly apply for the intermediate stage. After doing the Intermediate course and clearing the exams one goes into the final stage. To become a company secretary a candidate needs to be a member of Institute of Company Secretaries. For that one needs to clear the final stage by passing the examinations, gain practical experience and do the required training. A company secretary needs to have very good Communciation skills, excellent command over English, analytical mind and ability to explain things to the directors and decision takers in the company. Job prospects for Company Secretary are quite good and the scope for growth is also there. Remunerations offered are really good for company secretaries with salaries starting from Rs. 20,000 per month.

Regards

Ajay Mishra

Ajay Mishra (Expert)
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20 October 2010 Dear Friend

CA and CS are similar in nature but their role and responsibility is different in company. It will depend on you what you want to be in future.

Regards

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