Didn’t clear CA final exams? What next? Check Other Career Options if You Failed CA Many Times
Chartered Accountancy (CA) is one of the most difficult and in-demand professional programmes in India.
The three-level CA programme, which consists of Foundation, Intermediate, and Final courses, is offered by the Institute of Chartered Accountants of India (ICAI).
The career path for becoming a CA is quite challenging, and it is not easy to clear CA.
It can be disheartening to fail CA exams after numerous attempts, and one may believe that choosing commerce was a waste of time, but today we have some other options for you to consider if you quit or did not pass CA final exams.
Go for other professional courses in finance and accounting
CA is considered one of the most difficult programs; clearing various CA stages qualifying in the Final exam is very tough. The CA program’s average passing percentage is very less.
Those who didn’t clear CA can go for other professional accounting/finance-related courses, including Cost & Management Accountancy (CMA), Chartered Financial Analysis (CFA), ACCA (Association of Chartered Certified Accountants) program, CPA Certified Public Accountant (CPA) and Company Secretaryship (CS).
1. CPA Certified Public Accountant (CPA)
Following CA, CPA is one of the job options available. It denotes the highest level of proficiency in the accounting discipline. In addition to the CA, you will need to be familiar with US GAAP, IFRS (International Financial Reporting Standards), GAAS, US federal taxation, and corporate legislation if you want to become a CPA.
2. Certified Management Accountant (CMA)
Another excellent job option for CA graduates is the CMA credential. CMA is built on the foundations of cost accounting and auditing. If you pursue CMA, your credibility will grow and you will have more options abroad. CMA accepts applications for the positions of Finance Manager and Financial Analyst. You can also work as a cost accountant, financial controller, chief financial officer, and so on.
3. Financial Analyst, Chartered (CFA)
CFA (Chartered Financial Analyst) is one of the professional options available to CA dropouts. Earning a CFA can lead to opportunities in equity research, research analysis, investment banking, portfolio management, auditing, and other fields.
It is a recognised education that will provide you with job opportunities all over the world and allow you to earn a good living. CA, on the other hand, would have only allowed you to travel to India.
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One can also opt for MBA or pursue law
Those who were unsuccessful in passing the CA programme may choose to Check Other Career Options if You Failed CA Many Times pursue a Master of Business Administration (MBA) in Finance or another area of interest.
If they prefer to work in the corporate sector, they can also pursue law and enroll in an LLB (Bachelor of Laws) programme before selecting a specialisation course in Corporate Law.
Prepare for UPSC CSE or other government job exams
If a person is interested in joining the Indian Civil Services, which includes the IAS, IPS, and IFS, they can also prepare for the UPSC Civil Services Examination, a national-level competitive exam.
Other competitive government job exams, such as State PSC exams, SSC CGL, banking exams, teaching (TET), etc., are also open to them.
Alternatively, one may choose to work in the private sector.
Can opt for higher studies as per their interests
Candidates who weren’t able to pass the CA exam can choose to pursue higher education in accordance with their passions or career interests. Prior to selecting the ideal course in a reputable college, they should decide which profession they want to enter.