What are the alternative careers for a certified public accountant?

Updated on : January 21, 2022 by Tegan Hunter



What are the alternative careers for a certified public accountant?

I would recommend Professional Certification Risk Management to join the top risk consulting firms. Here are some facts about risk management: * Market size - Risk Advisory Market size of leading risk consulting firms such as PwC, E&Y, KPMG, Deloitte, Protiviti, Grant Thornton, Crowe Horwath, etc. It is estimated at more than ~ USD 10B, which is possibly 40-45% of the global market
* Top 250 companies spend ~ USD 30-50 MN each on risk-related activities
* Very important training time and mon. ..

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I completed CA in November 2018. I passed with AIR 11 in Finals and AIR 5 in Intermediate.

But the road to get here was not as straight as it seems.

This is my story:

"I'd rather stop studying than do CA," I used to yell at my friends who were studying for their CA exams.

After the 12th, I didn't fill out the CPT form like everyone else. I knew I wasn't going to do what everyone else is doing, especially what my brother is doing. I wanted to be unique. I wanted to stand out. I said no'.

They spent months at the university. I do not have anything better to do. I spent too much time with friends. I saw almost all

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I completed CA in November 2018. I passed with AIR 11 in Finals and AIR 5 in Intermediate.

But the road to get here was not as straight as it seems.

This is my story:

"I'd rather stop studying than do CA," I used to yell at my friends who were studying for their CA exams.

After the 12th, I didn't fill out the CPT form like everyone else. I knew I wasn't going to do what everyone else is doing, especially what my brother is doing. I wanted to be unique. I wanted to stand out. I said no'.

They spent months at the university. I do not have anything better to do. I spent too much time with friends. I watched almost all of the IMDB Top 250. He participated in college clubs. I was bored with my wits.

My best friend and I decided to complete the entrance exam forms for each course: CA, CFA and Actuaries. Once finished with Level 1 of each, we would decide what to pursue.

We did so.

CPT

I took CPT in December 2014. I barely studied, I still quickly passed the course. Pass with more than 80%.

My brother was preparing for the CA final. I randomly picked up his book Vinod Gupta Direct Tax and started reading. Then I solved some examples.

And it worked out for me. I could see concepts coming to me intuitively. It was easy. But everyone says it is difficult. I got hooked.

IPCC

I started preparing for the IPCC in February 2015. I went to coaching classes but couldn't stand the environment there. The classes seemed boring and slow. So, I dropped the license plates.

Everything was new to me: taxes, FM, costs, auditing. I knew that if I was going to do it myself, I had to work hard and I did.

My goal was never to get a rank. It was simply:

I must know everything on the date of the exam. Everything as an expert. Whether relevant to the exam or not.

I spend every waking hour studying. The only time I didn't study was when I was bathing or sleeping.

I used to schedule my lunches and dinners: 7 minutes each.

Read. Check. Read. Check.

In August I contracted dengue. I was away for a month. I didn't touch my books. Slowly, I got up again. 10 days before the exam, he gave up again. Then, just for fun, he went ahead and took the test. Since I had nothing to lose.

I ended up getting AIR 5.

Articles and endings

I joined a Big 4 - PwC group for my article. He was part of the statutory audit team.

I have worked with the most knowledgeable and keen manager in the office during my 3 years. Audited some of the largest listed companies. I traveled extensively to different cities for months. He took out all night at work.

There were days, we would work until 5 in the morning, we would come home, brush, bathe and come back at 8 in the morning.

On my last day at the office, just before my exam finished, I left the office at 4:30 am.

I started the final preparation in the last year and a half of my article. It didn't take a single license plate. During the exam sheets, he did nothing but study.

Every day was a battle. Every day I thought I would fail. It was hard. Harder than I thought it would be. But I fought. One day at a time. Lesson by lesson, subject to topic. Compliance with daily goals and review.

Read. Check. Read. Check.

I ended up with AIR 11. Not the best, but it was decent.

Some peaks to study for the exam

  • Sometimes my mom had to get me out of the chair so I could stop studying and come get something to eat.
  • There was a time when my father put all my books in a cupboard and locked it so I could distract myself for a while and get some steam.
  • My mom called my best friend to come check on me and get me out of the way because she was worried about my health.
  • In the Finals, I solved each of the test works available on the ICAI portal. Each. Single. Paper.

Where I am now?

I am a management consultant in one of the 3 big MBB firms: Bain & Company. I can work with some of the smartest and most motivated people. My job allows me to travel a lot. I spent the winter of 2019 in Southeast Asia, traveling alone on weekends, eating their food, learning about their culture, experiencing life.

My life runs its course. Teaching me tons along the way. But in terms of quality, it hasn't changed drastically since I'm very early in my career. However, CA exposed me to opportunities that I would not have otherwise been given.

And these opportunities expose me to experiences and lessons that I wouldn't have been exposed to otherwise.

More than professionally, these experiences help you grow personally. No matter how long you can imagine. It's funny how father you go, the more distance you feel you have to travel.

Apologies for the long answer, but I still feel like there is a lot I could write about. This only scratches the surface. :)

The main intention of the Public Accountants Act of 1949 was to develop a line of professional accountants who evaluate and guarantee the fairness of the financial statements of state and private companies. When the Act was formed, it was primarily with the idea of ​​institutionalizing the practicable accounting profession.

But today, the number of job seekers is increasing. I am also at work. For me, the reason for choosing a job was obviously income certainty. The fundamental difference between the profession of a CA and others such as medicine, engineer, law, etc. is: the profession of

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The main intention of the Public Accountants Act of 1949 was to develop a line of professional accountants who evaluate and guarantee the fairness of the financial statements of state and private companies. When the Act was formed, it was primarily with the idea of ​​institutionalizing the practicable accounting profession.

But today, the number of job seekers is increasing. I am also at work. For me, the reason for choosing a job was obviously income certainty. The fundamental difference between the profession of a CA and others such as medicine, engineer, law, etc. is that the CA profession is "created" by law. If tomorrow the Government of India passes some shitty rules that members of some other institute can also fulfill the obligations of CAs, then the profession will be worthless. (Currently the same is happening with the CMA with the introduction of new Business Rules). The need for a doctor is due to fundamental human nature and not to a law. The same is not the case with ACs.

In addition, money is also an important factor. In practice, if you need to earn high fees, you must go to larger clients who can afford them. And these kinds of clients don't generally go to new or new CAs. The clients that a new CA gets are generally desi companies who, instead of paying good fees, sometimes don't even pay the agreed-upon fees. They get their accounts audited / taxes paid simply because they "are required to." And not because they should.

On the other hand, a job in the corporate world is sometimes even more challenging than practice. For example, I really enjoy my job because it presents me with new challenges every day. And after I leave my office at 6, it gives me plenty of time to devote to my own personal development and additional activities that practice might not have provided. At least not in the early years.

Some argue that in practice, the man is his own boss. But I have seen it completely backwards in my experience. In practice, you have one, but several bosses. You must answer to your client, partner, income tax and other officials, etc. So even a practicing AC is not independent in the real sense. In fact, it is more accountable to many agencies.

However, this was my personal opinion. Further discussion is appreciated.

A very good question.You can directly join the industry with a good salary, if you opt for a job. But you need structured and unstructured learning, before your gains can be significant, in practice. If you want to practice, at one end of the spectrum, you need at least three years, called formative years, to gain broad exposure across various industries, different regions, and various types of auditing and consulting assignments. At the other end of the spectrum, you need to polish. his skills of l ...

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This has several aspects:

  1. How difficult is it to become a CA or CPA? Answer: it is difficult. You must master many disciplines, including accounting, finance, tax law, general business law and regulation, financial planning, investing, IT, business strategy, and management. A lot of study, a lot of discipline. Then you have to prove that you have this knowledge by passing a difficult multi-part exam, full of leading questions.
  2. Once you've passed the exam, you still don't know much more than theory and book learning. As the saying goes, "In theory, real life and theory are
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This has several aspects:

  1. How difficult is it to become a CA or CPA? Answer: it is difficult. You must master many disciplines, including accounting, finance, tax law, general business law and regulation, financial planning, investing, IT, business strategy, and management. A lot of study, a lot of discipline. Then you have to prove that you have this knowledge by passing a difficult multi-part exam, full of leading questions.
  2. Once you've passed the exam, you still don't know much more than theory and book learning. As the saying goes, "in theory, real life and theory are the same, in real life, they are different." When you enter the profession of CA / CPA, it will take several years of learning to begin to master the real-life challenges of being a CA or CPA.
  3. Just when you think you understand things, you will find that the accounting and tax fields are constantly changing and that you have to spend a lot of time keeping up.
  4. Contrary to all stereotypes, accounting and taxes are NOT boring. It's actually quite intellectually stimulating and very challenging. If you are not smart, you will not survive, no matter how good you are at preparing for a test. Every day is full of new challenges and different problems. If you want the same old stuff, look for a bookkeeping job. By the way, in a few years they will all be automated.
  5. The biggest impact you will find is that being a CPA / CA requires good marketing skills. You must promote yourself and your company. You have to be able to sell your suggestions and ideas to people who have little idea of ​​what you are talking about. You have to be sincere and convincing, and be able to translate difficult and obtuse concepts and rules into simple explanations without making it sound like you are badmouthing people.
  6. Another impact that you will find yourself in is that you will train to be a technical expert, but after a couple of years, the skills that are most important are the ability to manage people and execute operational plans. If you are an auditor, you can have 3 to 500 people working with you. If you are a tax accountant, you may have between 1 and 50 people working with you. Can you be a leader? Shy and withdrawn will not hack it.
  7. The most successful accountants are decent technicians, but excellent entrepreneurs. They can relate well with people, earn the trust of customers to the point where they are recommended, can partner well with business leaders and business owners, and they know how to attract and keep business.

In short, I would say that the field of Certified Public Accounting is very challenging. On the other hand, it is very rewarding, and those who excel are rewarded in many ways, most notably financial.

Hello there

My father is a practicing CA who left his as CFO of a multinational company five years ago. He was earning quite well and therefore the decision to leave was very difficult.

How can a CA start their own practice?

  1. You will need the capital to buy a business premises or rent a venue, pay utility bills, travel and transportation bills for networking purposes, printing and stationery expenses, etc. As a novelty, you can ask your relatives for a loan or approach the bank for the same. My father had accumulated enough capital in his 23 years of experience in the industry to be able to buy a good enough commercial space.
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Hello there

My father is a practicing CA who left his as CFO of a multinational company five years ago. He was earning quite well and therefore the decision to leave was very difficult.

How can a CA start their own practice?

  1. You will need the capital to buy a business premises or rent a venue, pay utility bills, travel and transportation bills for networking purposes, printing and stationery expenses, etc. As a novelty, you can ask your relatives for a loan or approach the bank for the same. My father had accumulated enough capital in his 23 years of experience in the industry that he could buy a good enough commercial space and hire some employees as well.
  2. Networking is very important. You don't get clients to sit idle in the office. You will first have to reach out to people and tell them what services your company offers. Some of your friends may need some of your services, but they don't even know you offer them. Many of my father's clients are his friends from our housing society.
  3. In the early years, your income may be lower, you may feel a shortage of cash, but that's normal. It takes time for any business to grow. Try your best and you will surely succeed.

A life as a company or as a practicing CA, both are equally lucrative.

As a practicing CA, you may earn less in the initial years of practice, but the scope of the gain is unlimited.

In the company, you may get a fixed salary, but growth is somewhat limited. The gains in both cases are reduced to be almost the same in the future.

Everything depends on what do you want. Some people are entrepreneurial minded and therefore would like to practice. Some people want to develop a good business career without having to worry about the uncertainty of not receiving or receiving less salary and therefore can join a company.

However, if you want to start practicing, the suggestion would be to work at the company for a few years to develop some contacts, learn how to interact with clients, and implement the learned method in your own firm. In addition, working in a multinational for a few years helps save money that could cover the cash crisis in the first years as a CA in office.

But, there are people like Aditya Mundada who started practicing immediately after qualifying and are doing quite well on their own. That is why my point above was just a suggestion.

In the end, it all comes down to your abilities, finding the opportunity and seizing it.

Good luck !

Feel free to contact me for any further questions.

Salary is nothing more than a rental charge given by an entity to a person who agreed to work for it.

Now if you are a CA, that is fine. He has a premium credential that other guys who accompany him may not have in the field of selection.

I give you an example:

My brother is a Certified Public Accountant and passed the exam at all levels on the first try.

You applied for jobs at 3 different companies immediately upon approval.

Now it is time for the interview, there were 4 other candidates applying for the same position for which it was declared vacant.

3 were immediately rejected on the grounds that

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Salary is nothing more than a rental charge given by an entity to a person who agreed to work for it.

Now if you are a CA, that is fine. He has a premium credential that other guys who accompany him may not have in the field of selection.

I give you an example:

My brother is a Certified Public Accountant and passed the exam at all levels on the first try.

You applied for jobs at 3 different companies immediately upon approval.

Now it is time for the interview, there were 4 other candidates applying for the same position for which it was declared vacant.

3 were immediately rejected because they did not trust their answers and answers and were not suitable for the position.

2 including my brother were selected and even after passing, their offered salaries were different, think why. For their behavior, attitude to life and other questions on issues raised by the interviewer.

The questions that arise in the interview are not like: What does the section say in this and this law or what is the entry in the journal of this or that transaction? You passed the exam, you probably know that, right?

The questions are based on your psychological and neuropsychological pattern of thinking and imagination that shows what you really are, what you can contribute to the organization as a whole.

Your salary is a rent that is paid to you for your services, you serve as an asset for the organization, it depends solely on the asset that is used in the rental, what value in terms of dignity, common sense, self-respect, presence of mind . ; Does your life, depreciable or not? Does it run with patience or not? Does it heat up if it has the ability to cool down again or not?

It is up to you, whether you want to be an 'asset', the monetary value of which can be calculated and used by any entity for its use or of such value that it is invaluable in itself and not available for rent, and tacitly absorbed in nature. . on.

There are countless opportunities for a Certified Public Accountant. Here is an illustrative list of points:

  1. Own Practice / Consulting- After qualification, one can participate in a job or start their own practice. Various fields open up when you lead from the front and are the boss.
  2. Stock Market: Strategic Financial Management is a curriculum subject and is taught at all levels of the course. Investing in the stock market, observing bullish and bearish sentiments, reading company financial statements and other details thereof is easy for a CA.
  3. Teaching- One c
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There are countless opportunities for a Certified Public Accountant. Here is an illustrative list of points:

  1. Own Practice / Consulting- After qualification, one can participate in a job or start their own practice. Various fields open up when you lead from the front and are the boss.
  2. Stock Market: Strategic Financial Management is a curriculum subject and is taught at all levels of the course. Investing in the stock market, observing bullish and bearish sentiments, reading company financial statements and other details thereof is easy for a CA.
  3. Teaching: CA students can also be taught after grading. Due to the intrinsic complexity of the course, a large number of students take classes for the curriculum. One can earn a lot of money and also keep up-to-date through teaching.
  4. Startups: I feel that more than a course or a degree, Public Accounting is a way of life. It teaches you a variety of things from day one, when you are inducted into the course. A number of ideas surprise you as you study them in detail and improve your business wit. Many CAs have stopped working and joined the startup league.
  5. Family Business Development and Management - I know several friends from CA who have taken their family businesses to a higher trajectory thanks to their erudite knowledge.
  6. Industrial work / CA company work - Work can also be done in an industry or company and there are many avenues available such as:
  • Career in Accounting and Finance
  • Tax advice (both direct and indirect)
  • Legal audit according to applicable statutes
  • Internal audit
  • Tax audit
  • Forensic audit
  • Management of the treasury function
  • Others such as Bookkeeping, Financial Controller, Preparation of company finances, etc.

With the ever-changing business environment in which we hear something new emerging every day, be it goods and services tax, application of Indian accounting standards, convergence with international financial reporting standards, etc. You may stop emphasizing the role of a chartered accountant.

Having said that, I would like to shed some light on how these opportunities would fluctuate from one AC to the other.

Hoping that you are aware of the design of this professional course, the factors are presented below, not necessarily in the sequence of their importance,

1) Your training experience is important (or the article, as it is called) and people judge you based on it. Those are the formative years and they have an impact. Period.

2) Your personality and personal grooming in general. Because Chartered Accountancy is a correspondence course (not in a derogatory way at all) and there is no direct interaction with the faculties or competitors per se, you will find many technically brilliant CAs but somewhere they lack that edge or dynamism (such as missing of good English or confidence, etc.) in his personality. On the other hand, CAs who come from a good education or college background can hold their position in an interview.

The employer, of course, expects the candidate to speak well and be presentable.

3) The number of attempts made to clear the course. At least for your first job.

Well, this is the bleakest reality. Despite the universally known fact that Indian Public Accounting is by far one of the most difficult courses available and its pass rate is skillfully maneuvered to meet the market forces of supply and demand, the number of attempts, if it is more than one, it is a scar, you will have to carry it on your back, at least for some time.

4) Technical brilliance and domain knowledge. Needless to emphasize, they will decide which door of opportunity would open for you for a minute and let you in, which would open for a second and close, and which would not open at all.

All the best. Comment if you need to know more about this.

Note: The author is a Chartered Accountant and opinions are personal. Readers may think differently. Suggestions are welcome.

First of all, before you start your preparation, prepare your mind for CA, because it needs total dedication, it is not hard work, but it is a must. One must be regular in his studies. Daily review and practice make it easy for you to clear CA exams. I quote some steps to become a CA here: -

  1. First of all, you will need to register for your entrance exam, which is CPT with our Indian Institute for CA (ICAI). There are two attempts for this in one year in June and one in December, please select your attempt and fill out the form accordingly. For June attempts, forms are available starting in January. You can a
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First of all, before you start your preparation, prepare your mind for CA, because it needs total dedication, it is not hard work, but it is a must. One must be regular in his studies. Daily review and practice make it easy for you to clear CA exams. I quote some steps to become a CA here: -

  1. First of all, you will need to register for your entrance exam, which is CPT with our Indian Institute for CA (ICAI). There are two attempts for this in one year in June and one in December, please select your attempt and fill out the form accordingly. For June attempts, forms are available starting in January. You can also fill out the form online, saving you cost and time. You will get a link on the ICAI website to complete online.
  2. Then after passing the CPT registration for its intermediate level, which is IPCC. It has two groups with 7 subjects. You can give as a group gift individually or in combination according to your size. According to me, giving both groups combined is better because you get compensated benefits in it. Then after registering, you will receive your study materials at home. You get nine months to pass the IPCC on your attempt, you can also skip attempts if you want to prepare more.
  3. Then after deleting ipcc, your article submission begins, which is for 3 years. In it, you will train under a CA of your choice. During these 3 years, you can start your preparation for your final level, but you can only take the exam after 2.5 years of article.
  4. Then after passing your final level and completing certain paperwork, you get the CA title and a unique membership number with which you can practice or you can also look for work.


  1. Pass the CPT (Common Aptitude Test), after 12th and if you are a graduate, you do not need to do this.
  2. Register with the IPCC (Integrated Professional Competency Course)
  3. Study how you can try the exams after 9 months of CPT.
  4. You also have to do ITT (information technology training) which is for 100 hours.
  5. You also have to do an orientation course that lasts about 1 week. Delete IPCC which has 2 groups. You can give one at a time or both at the same time.
  6. Now you have to register as an article (as apprentices they are called article). This training is 3 years.
  7. In the last 6 months of these 3 years of training you have to
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  1. Pass the CPT (Common Aptitude Test), after 12th and if you are a graduate, you do not need to do this.
  2. Register with the IPCC (Integrated Professional Competency Course)
  3. Study how you can try the exams after 9 months of CPT.
  4. You also have to do ITT (information technology training) which is for 100 hours.
  5. You also have to do an orientation course that lasts about 1 week. Delete IPCC which has 2 groups. You can give one at a time or both at the same time.
  6. Now you have to register as an article (as apprentices they are called article). This training is 3 years.
  7. In the last 6 months of these 3 years of training you have to register for the finals.
  8. Final pass (2 groups).
  9. Complete your training.
  10. Force a short course in basic management and communication skills.
  11. Register with ICAI.

The most important thing is to work hard and have confidence in yourself ... Many will say a lot, but keep going ...

CA (public accountant) is one of the most responsible and worthy jobs.

Institute- ICAI (The Charatered Accounting Institute of India).

ICAI will provide you with the study material. Don't look for too many books, you can follow up with an additional book, otherwise the study material will be of great help.

Study hard only from 11th place, as this will help you a lot…. You can erase cpt with your knowledge of 11 and 12 (accounts and echo) for law and mathematics you have to work a little more.

Very relevant question in today's time. There is a student on the net, who was in his article but abandoned it to dedicate himself to artificial intelligence and machine learning. There are many technical things. If you had science in your 11th and 12th class, it will be a lot easier for you.

But if not, it will be a bit difficult.

The other day I was talking to an experienced CFA and I asked the subjects to study a CFA and a lot of them were really technical. CFA is introducing new subjects in its curriculum like AI, ML, Data science. Some CAs pursue CFAs to pursue a career in the applied finance field (in the stock market).

I know it's not

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Very relevant question in today's time. There is a student on the net, who was in his article but abandoned it to dedicate himself to artificial intelligence and machine learning. There are many technical things. If you had science in your 11th and 12th class, it will be a lot easier for you.

But if not, it will be a bit difficult.

The other day I was talking to an experienced CFA and I asked the subjects to study a CFA and a lot of them were really technical. CFA is introducing new subjects in its curriculum like AI, ML, Data science. Some CAs pursue CFAs to pursue a career in the applied finance field (in the stock market).

I know it is not relevant here, but I am trying to lay the groundwork here, that CAs pursuing CFA study technical aspects (coding, python, etc.) and they do it quite well. So yes, a CA can become a data scientist if that is what you are asking.

Now, answering "should a CA really become a data scientist?" Well, I think that's one's personal interest. And I'm pretty sure that since you're leaning towards this, you might enjoy studying it. So go ahead, but don't make decisions hastily. Join him if you are really interested.

All the best :)

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