Passed CA Exam, What Next?; Career Options After Passing CA

What happens after CA? Chartered Accountancy is a dream course that opens the door to a plethora of job opportunities.

• This course’s options are virtually limitless, and they can be tailored to your interests, standards, and earnings. A Chartered Accountant must either start their own practise or work for a corporation.
• Due to their specialist knowledge in multiple fields, a CA can be appointed to a variety of job profiles ranging from auditing and taxation to investment and finance.
• Soon after the CA Final results are announced, the next question on the minds of those who are preparing for the exam is, “What comes next?”

To answer the unique question: what should I do after becoming a Chartered Accountant?, we have listed some of the exciting job options one can pursue after becoming a Chartered Accountant.

Career Options after Chartered Accountant:

Chartered Accountancy, as previously stated, is a self-contained degree programme.

Consult with someone who has completed the Chartered Accountancy course. Can a degree open the door to a wide range of opportunities?

This list includes some of them. Consider the following examples:

1. Internal Auditor :

• As we all know, only certified public accountants (CPAs) are allowed to audit an organization’s financial statements.
• As a result, there is always a high demand for CAs in the Audit industry, and this is also the field where a CA receives the most significant pay raises.
• In this job profile, however, the work pressure is relatively high. After completing the CA Inter, one can work for a corporation as an Internal Auditor.

Various firms and institutions, on the other hand, have policies stating that only a certified Chartered Accountant and not a CA Inter passed applicant may work as an Internal Auditor.

2. Direct and Indirect Taxation:

• CAs are sometimes referred to as “Taxation Experts” in certain industries. Many Chartered Accountants begin their careers in either direct (Income Tax) or indirect (Sales Tax) taxation (GST and other laws).
• With the implementation of new tax legislation in our country, the role of a Chartered Accountant in this field is expanding.

3. Banking and Insurance Sector:

• You should not expect to be in charge of the bank’s essential accounts or to prepare financial statements in accordance with banking regulations and industry best practises as a general accountant.
• Banking accounts must be handled by someone who is familiar with banking regulations and their compliance with them, as well as other industry standards.
• They must be capable of participating in the bank’s financial affairs as well as working on financial strategies, control, funding, forecasting, and other related tasks.

4. Finance Management :

• A growing number of organisations are looking for Qualified Chartered Accountants to manage their financial affairs in order to benefit from CAs’ extensive knowledge of the financial sector.
• This job profile is highly regarded and necessitates a diverse set of technical skills.
• Keep abreast of industry trends, understand the most profitable investments, forecast the company’s business, and then advise the organisation on these forecasts and investments.

5. Work as a teacher:

Part-time teaching is possible if one is employed in the field of education.

• Teaching is a highly regarded profession with high ethical standards. It not only gives you money but also a good reputation, similar to CA. Sir Parveen Sharma, CA. Sir Vinod Gupta and CA. Sir, Bhagwan Lal. Some CAs teach by doing their jobs or putting in extra practise time.
• CAs, commerce graduation coaching programmes, select post-graduate colleges, and the Indian Chamber of Commerce and Industry all have teaching positions available.
• Additionally, this does not have to be a full-time position. You may choose to pursue academics in addition to your work or practise.

So, if we sum it up:

• Although the early stages may not be financially successful, in the long run, the industry’s earning potential is comparable to, if not superior to, that of any other.
• Only those who are aware of the challenges students face and who want to further their education are allowed in this area.

6. Business:

In most situations, going self-employed or working for a family business is preferable to other options. One of the most well-known proverbs when it comes to starting a business is, “There is no better choice than starting your business.”

This implies that starting your own business, whether it be in trade or manufacturing, is the only better option.

To help them grow and improve, many CAs work for their family businesses; however, starting your own business without any prior experience is very difficult.

Never forget about the well-known Indian businessmen like Dhirubhai Ambani. Despite not coming from a wealthy family and lacking a formal education, Dhirubhai was a prosperous businessman.

Always keep in mind that “if you set your mind to something, you can achieve it.”

7. Further Study: Courses after CA:

1. ACCA (Association of Chartered Accountants)

The ACCA (Association of Chartered Accountants) is a well-known organisation with its accountancy profession recognised in more than 180 nations worldwide.

It has offered the Chartered Certified Accountant (CCA) Qualification since 1904. According to its website, ACCA now has 208,000 members and 503,000 students.

• You will gain knowledge of UK GAAP and its regulations from this course, as well as the certification needed to work as a Certified Accountant (CA) in a number of nations.
• Although a CA degree is necessary to operate in India, ACCA, when combined with a degree, gives you tremendous growth opportunities if you want to pursue international accounting or work for a multinational corporation in the future.

The benefit of pursuing ACCA after completing CA is that it recognises the CA certification and exempts candidates from nine of the fourteen exams, allowing an Indian CA to increase their professional opportunities by passing only five papers.

2. CISA and DISA :

You may have heard that in India, CAs are not allowed to perform system audits unless they possess a CISA or DISA certificate. This is true.

The DISA is a locally recognised degree offered by the Institute of Chartered Accountants of India (ICAI), whereas ISACA offers the CISA, a globally recognised course.

After finishing CADISA, you should enrol in this course if you plan to perform an information technology audit in the future. CADISA can only be obtained by applying through a qualified Chartered Accountant.

3. CFA (Chartered Financial Analyst) :

After earning your CA degree, the CFA programme is a fantastic alternative to consider if finance is your area of interest.

After completing both the CA and CFA programmes, candidates will have many excellent career options, including Investment Banking, Hedge Funding, and Portfolio Management.

The auditing of the balance sheet and giving current perspectives on past events may be the extent of CA’s work. However, the CFA’s purview has been extended to include examining financial statements.

As a result, CFA is a well-known course that is still provided as a graduate-level course. Anyone who has completed high school is eligible to apply for the CFA programme.

4. Post Qualification Courses Offered by ICAI :

In addition to post-qualification courses such as:

• Diploma in Insurance and Risk Management
• International Trade Laws and the World Trade Organization
• Management Accountancy Course, Corporate Management Course
• Tax Management Course
• Diploma in International Taxation and other related programs are offered by the Indian Council of Applied Finance (ICAF).

One can pursue any accounting course of study they choose once they are a Chartered Accountant.

After completing the Chartered Accountancy course, one can select from a variety of courses.

Despite the fact that CA is a stand-alone qualification, these courses help you to increase your knowledge and increase the likelihood that you will be selected for a variety of positions based on your area of interest.

Conclusion: What After Chartered Accountancy?

In the competitive job market of today, there are five distinct categories of career opportunities that you can investigate:

a) Practice CA

b) Entrepreneurship

c) Join any CA Firm

d) Work As Teacher

e) Further Studies