A Survey Analysis of Current Situation of

Chartered Accountant Students in Bangladesh.

Dissertation Report

Submitted to the Faculty of Business Studies, Bangladesh University of Professionals in

Partial Fulfilment of the Requirements for the Degree of
Master of Business Administration (MBA)

Under the Supervision of

Dr. Jannatul Ferdaous
Chairman of (Finance & Banking)
Faculty of Business Studies (FBS)
Bangladesh University of Professionals (BUP)

Submitted by
Md. Rifat Hasan Alam Anjan
ID No:-EV-18018056
Bangladesh University of Professionals (BUP)
Mirpur Cantonment, Dhaka 1216
May-2018

Submitted on:
July 06, 2020
 A survey analysis of current situation of
Chartered Accountant students in Bangladesh
 Letter of Transmittal

July 06, 2020.

To
Dr. Jannatul Ferdaous
Assistant Professor (Finance & Banking)
Faculty of Business Studies (FBS)
Bangladesh University of Professionals (BUP)

Subject: Submission of Dissertation Paper on “A survey analysis of current situation of

Chartered Accountant students in Bangladesh.”

Dear Mam,
I am delighted to submit my dissertation paper on “A survey analysis of current situation of
Chartered Accountant students in Bangladesh” which you had authorized me to prepare as
theses paper under dissertation course requirement. I have enjoyed preparing the report though it
was challenging to finish within the given time. In preparing this report, I have tried my level
best to include all the relevant information.
So, I, therefore hope that, you will find it in order and if you have any queries or suggestions,
Please let me know.

Sincerely Yours

Md. Rifat Hasan Alam Anjan

ID: Ev-18018056
MBA (Professional) Batch: 18,
Faculty of Business Studies (FBS)
Bangladesh University of Professionals

i
 Declaration

I hereby declare that except where specific reference is made to the work of others, the contents
of this dissertation are original and have not been submitted in whole or in part for
consideration for any other degree or qualification in this, or any other University. This
dissertation is the result of my own work and includes nothing which is the outcome of work
done in collaboration, except where specifically indicated in the text.

Md. Rifat Hasan Alam Anjan

ID: Ev-18018056
MBA (Professional) Batch: 18,
Faculty of Business Studies (FBS)
Bangladesh University of Professionals

ii
 Acknowledgement

On the very first note, I will like to thank the Almighty for helping me complete this paper and
my dissertation program as a whole.

It has been an honor to work with a group of highly enthusiastic people, who have contributed
something of theirs to this paper. There are certainly some special ones who cannot go without
mention.

This research involved several generous persons to be completed. Here I first express my
gratitude to my supervisor Dr. Jannatul Ferdaous. She guided me to complete this research with
her valuable time, effort, and allowed continuous access to her whenever I faced problem. I also
thank her in advance

Furthermore, I would like to extend my appreciation to all who were very kind in extending
their whole hearted co-operation in doing my report. Besides them, my gratitude goes to the
respondents to the questionnaire, to my entire batch mates, well-wishers for their constructive
comments, advices, and willingness to provide any necessary help. I wish their true and
meaningful success.

Finally, I would like to render my heartiness thanks to my teachers, friends & others who extend
their support to prepare the report.

iii
 I recommend that this thesis has been prepared under my supervision by

Md. Rifat Hasan Alam Anjan

ID No:-EV-18018056
Bangladesh University of Professionals (BUP)
Mirpur Cantonment, Dhaka 1216 Batch -May-2018

“A survey analysis of current situation of

Chartered Accountant students in Bangladesh.”

Be accepted in partial fulfillment of the requirements for the degree of

Master of Business Administration (MBA) under the Faculty of Business Studies,
Bangladesh University of Professionals

…………………………………….
Supervisor
Dr. Jannatul Ferdaous
Chairman of (Finance & Banking)
Faculty of Business Studies (FBS)
Bangladesh University of Professionals (BUP)

iv
 Table of Contents

Description of the topic Page No.

Letter of Transmittal i
Declaration ii
Acknowledgement iii
Supervisor's certificate iv
Chapter-1- Introduction 1-3
1.1 Background of the study 2
1.2 Problem Statement 3
1.3 Objectives of the Study 3
1.4 Significance of the study 3
1.5 Limitations 3
Chapter-2 -Literature Review 4-6
2.1 Review of Related Literature 5
2.2 Previous study 6
Chapter-3 Methodology 7-09
3.1 Study Area & Target Population 8
3.2 Data & Data Sources 8
3.3 Data Collection 8
3.4 Target Sample 8
3.5 Procedures of data collection & analysis: 9
Chapter-4 Current Scenario of CA Profession 10-14
4.1 General Overview 11
4.2 Overview during Covid-19 14
Chapter-5 Analysis 15-29
5.1 Introduction 16
5.2 Survey Analysis 16
5.3 Cronbach’s Alpha 29
Chapter-6 Findings 30-33
6.1 Introduction 31
6.2 Findings from survey analysis 31
6.3 Why CA students leaves this profession after 6-12 months 34
Chapter-7 Recommendation 35-37
7.1 Introduction 36
7.2 Recommendation from the findings 36
Chapter-8 Conclusion 38-40
References 41-42
Appendix 43-46

v
 List of Figures

Number Description Page No

Figure 3.1 Demo figure of Google questionnaire 09
Figure 4.1 CA study Module 11
Figure 5.1 How long you have been registered as an Articleship Student? 16
Figure 5.2 Your Educational Background 17
Figure 5.3 Do you get any type of guidelines or proper information’s about CA form 18
your Educational Institution such as university or college
Figure 5.4 In which CA Level are you currently in 18
Figure 5.5 Currently the articleship for CA student is 3 years. Are you satisfied with 19
that?
Figure 5.6 Are you satisfied with the Study Materials & CA Coaching Classes which is 20
provided by ICAB
Figure 5.7 Do you think study manuals which are provided by ICAB is enough to pass 20
the CA exam
Figure 5.8 Are you satisfied with the exam leave which is prescribed By ICAB 21
Figure 5.9 Are you getting the minimum amount of Allowances on a monthly Basis? 21
Figure 5.10 Do you think the pay scale of monthly allowance is enough for a student 22
considering they have to work From 9 AM to 5 PM on a daily basis
Figure 5.11 Do you get any type of Educational aid (For theory Part) form your 23
respective CA firm
Figure 5.12 What Type of practical work you are involved, in your CA firm? 23
Figure 5.13 Are you satisfied with the practical knowledge which you are getting form 24
your respective CA form during the course of Articleship?
Figure 5.14 Mention At least two problems which an article students of ICAB face 25
during their Articleship Period
Figure 5.15 Do you get your Monthly allowances properly during this pandemic time 25
Figure 5.16 Do you still have to work 9 Am to 5 Pm 26
Figure 5.17 Do you get any type of safety equipment such as mask, gloves, hand 27
sanitizers from your CA firm to protect yourself from Corona
Figure 5.18 Do your firm take any type of safety measure to ensure your good health 27
Figure 5.19 Are you satisfied with the safety measure which is taken by your CA firm 28
Figure 5.20 Due to Corona situation do you get any type of extra financial aid such as 28
conveyance from your firm

List of Tables

Number Description Page No

Table-5.1 Target Sample 08
Table-5.2 Case Processing Summary 29
Table-5.3 Reliability Statistics 29

vi
 Chapter-1
Introduction

1|Page
 Chapter-1
Introduction
1.1 Background of the study
Chartered Accountancy profession is one of the prestigious career options for the students as it
opens the door to an immense range of exciting career opportunities, in every sector of business
and finance, both in Bangladesh and internationally. Chartered Accountants are always in
demand both at home and abroad. If students are looking for a business career that offers-
prestige, honor , bright future and excellent financial rewards, becoming a chartered accountant
is the just the place to start the career.
Professional accountants play a vital role in developing the economic growth of a nation through
ensuring accountability of the financial positions of the associations and covering financial and
strategic parts of business. Chartered Accountancy has developed as particular sector of
accounting which is become the most prestigious career in Bangladesh as well as likewise
everywhere throughout the world.
The Institute of Chartered Accountants of Bangladesh (ICAB) is the National Professional
Accounting Body in Bangladesh, which is established 1973 for the purpose of regulating the
profession of accountants and for matters connected therewith. Currently there are 180 Chartered
Accountancy firms in Bangladesh.
There are some steps to follow in order to study chartered accountancy under ICAB guidelines.
At first, the student has to join a CA firm and get registered with ICAB. Articleship starts from
the date of enrollment. The Articleship period is three years for a graduate but for students
joining a CA firm after A-Levels/H.S.C the Articleship period is four years. At the time of
registration, a student has to enter in a tri-party contract. Three parties are student, CA firm and
ICAB. Joining a CA firm incurs no cost for the student.
At present, Bangladesh requires about 15,000 professional accountants where Chartered
Accountants in Bangladesh is only has 2005 (according to ICAB). Besides that currently about
3000 students are continuing study CA in various CA firm. But the rate of enrolling student is
not increasing as it should be. There are various reasons for that and within this paper I will
discuss and analyze those with the help of questioner which is filled up by the students of CA.

2|Page
1.2 Problem Statement

CA degree is regarded as one of the most esteemed profession not only in Bangladesh but also in
the whole world and the chartered accountants have a huge demand in Bangladesh and other
economic giants like China, USA, Canada, Australia, India, UK. But while persuading CA
degree In Bangladesh a student have to face many problems. Most of these problems are
occurring from the lack of information about this sector. Even they are not guided enough from
universities or any other areas before entering in this sector as a result they are facing
tremendous amounts of problems. In this study I will discuss those problems which all CA
students are facing including myself and will provide recommendation based on that.

1.3 Objectives of the Study

The main objective of the study is to find out the current scenario of CA profession (both before
Covid-19 and during this pandemic time), challenges they are facing and why they are leaving
this profession after 6-12 months.

The secondary objective of this paper is to find out some remedies of those problems from the
analysis part.

1.4 Significance of the study

The result and findings of the study will be beneficial and can be used by students and future
researcher. Besides that it will also serve as a great helping hand for those students who are
currently thinking of persuading CA career and what to know before persuading (specially the
students of Finance and Accounting department of BUP).

1.5 Limitations-

 Due to current condition of Covid -19 and office compulsion I could not get enough data
regarding this paper which I intended primarily.
 The population in the study is rather small as I only conduct survey on 7 top CA firms
which is based on Dhaka.

3|Page
 Chapter-2
Literature Review

4|Page
 Chapter-2
Literature Review
2.1 Review of Related Literature

According to the finding of Uyar, & Kuzey, (2011), Zakaria, et.al, (2012), Jackling and Calero
(2006), Yuen & Law, (2012) and Edwards & Quinter, (2011), a person‟s interest in a particular
subject has a significant positive effect on choosing accounting as a profession. Students who
perceive accounting interesting and enjoyable are more likely to prefer accounting as their
major and later in professional studies.

A study by Jones and Wright, (2011), showed that students who studied accounting in
secondary school had a noteworthy positive outcome on the underlying choice to major in
accounting.

According to Hujra, et.al, (2010), most students assume accounting and finance courses are
difficult and challenging as it is highly theoretical and involve numbers. Hence, it has a
negative impact on students‟ choice of accounting. Subsequently, many students have pulled
back from the course in light of the fact that their quality does not coordinate with the abilities
which are required by these courses.

According to Ahinful, Paintsil, & Danquah, (2012), Uyar, & Kuzey, (2011), Britt, (2012), U.S.
Bureau of Labor Statistics (2012), and Gabriel, et.al, (2012), students choose accounting as a
career as it has a positive effect on employment opportunity. Moreover, it has been projected
that accountants will experience significantly speedier than normal employment growth through
2018 as mentioned by the U.S. Bureau of Labor Statistics.

As the accountants guarantee the reliability and integrity of accounting by being sincere and
with regard to legislation and the economic and financial policies, accountants are considered as
one of the key person in decision-making team. Moreover, nations turn out to be more
appealing to foreign investors as they can utilize comparative data in their investment decisions
due to increased controls with the global principles/international standards.

5|Page
As the accountants guarantee the reliability and integrity of accounting by being sincere and
with regard to legislation and the economic and financial policies, accountants are considered as
one of the key person in decision-making team. Moreover, nations turn out to be more
appealing to foreign investors as they can utilize comparative data in their investment decisions
due to increased controls with the global principles/international standards.

International standards have helped to reduce corruption and unprofessional conduct due to the
policies and practices of accounting being accepted or practiced worldwide. Due to standards
of accounting being accepted worldwide, it has helped businesses to spread beyond their
border. Regardless of whether you're a an architect, accountant or engineer, being "chartered"
means you are perceived as being at the highest point of your selected profession. It
demonstrates you have industry-particular abilities and experience, not simply scholarly and
theoretical knowledge, and is very important for occupation progression. Once you become a
chartered accountant you are open to endless job opportunities and rewarding salaries.
However, from day one you will be given a lot of responsibility, like- preparing accounts,
meeting clients, working in audit teams, etc. which you have already experienced during the
work you undertook in the training agreement with a CA firm while studying CA.

2.2 Previous study

As this study is based on survey analysis and it manly concentrate on the (both before Covid-19
and during this pandemic time), challenges they are facing and why they are leaving this
profession after 6-12 months, I couldn‟t found any other previous studies like this.

6|Page
 Chapter-3

Methodology

7|Page
 Chapter-3
Methodology

3.1 Study Area & Target Population

The target population of this study is the CA students of top 5 CA firm in Bangladesh and around
60 students participated in this study.

3.2 Data & Data Sources

All the data has gathered for report writing during the limited time frame while making the
dissertation report. Information collected to furnish this report is both primary and secondary
sources of data.

3.3 Data Collection

Primary data was collected through online survey of 5 CA firm students In Bangladesh. Some
secondary data was collected to make the report more concrete .Those data was collected from
various articles, newspaper and websites.

3.4 Target Sample

CA Firm Name Total Students Participated Date of survey

1. ACNABIN Chartered Accountant 7 June 28th, 2020
2. Rahman Rahman Huq 5 June 28th, 2020
3. Hussain Farhad & Co. 10 June 29th to 30th 2020
4. Hoda Vasi Chowdhury & Co. 8 July 1st, 2020
5. Syful Shamsul Alam & Co 10 July 3rd, 2020

Table-3.1 Target Sample

8|Page
3.5 Procedures of data collection & analysis:

The data was collected through online Google questionnaire and then put it on excel to determine
the percentage of those data and later it is shown with the help of pie graph to interpret those data
more accurately.

Figure-3.1 Demo figure of Google questionnaire

9|Page
 Chapter-4
Current Scenario of CA Profession

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 Chapter-4
Current Scenario of CA Profession

4.1 General Overview

Joining Process

In order to join CA profession a student must join a CA firm. In Bangladesh CA firms are
registered with ICAB. Basically CA firms are categorized as A, B & C. A category firms are
reputed and offers most benefits. So, it would be ideal to join in an A category firm. CA firms
will take admission test (by their own way) and based on admission test result, they will invite to
join as student. Once joined as student, next step is to will take registration under ICAB.

Registration Process

In order to register under ICAB a student has to enter in a tri-party contract also called articleship
contract. These parties are student his/herself, the CA firm and ICAB. A student has to pay
30000 taka for the registration. But before get to the registration part a student have to complete
his/her probation period (typically 3-6 months). After the completion of probation period the
firm will offer articleship to the student which is 3 years. By this 3 years means a student have to
serve that firm for the next 3 years and without any valid reason he/she can‟t leave the firm.

Study Module

The CA study modules cover a wide range of subjects, to develop a broad understanding across
accountancy, finance and business. It progress over three levels and are designed to complement
the practical experience, professional development and ethical learning a student can gain
throughout his/her training period. This means that they will be able to apply their knowledge in
the workplace right from the start.

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 Figure-4.1 CA study Module

Exam & General leave:

As per Articleship agreement, each student will get 180 days of leave during the 3 year
articleship but not all firms provide these general and exam leaves. Sometimes they (CA firm)
pose restrictions on that as it is not properly maintain by the ICAB.

Exemptions:

ICAB provides Exemptions on its subject. Exemptions are provided for the members of other
professional bodies such as CIMA, ACCA, ICMAB and to the students of certain universities
with which ICAB has Memorandum of Understanding (MoU). Sadly as a reputed public
university BUP still hasn‟t MoU with ICAB.

Costs:

There is no cost when a student joins in a CA firm. However, at the time of registration with
ICAB, a student has to pay 30,000 as registration fee. In order to participate in the exam a
student has to pay exam fees based on the paper or subject. Besides that it is mandatory for every
student to participate in the coaching classes for 2 months. Coaching class fee for Knowledge
level is BDT 13,500; for Application level BDT 15,000; For Advanced level classes (except case
study) BDT 18,000 and for Advanced level case study classes BDT 25,000.

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Student Allowances:

In CA, not only students‟ pays but students also get paid. A CA firm pays the students
allowances per month depending on their firm policy. Large firm pays their articled students
BDT 5,000 to 15,000 per month subject to academic background and result. However this
amount can‟t be less the amount determined by ICAB. At present ICAB have fixed allowance as
BDT 4,000 per month for first year student taka 4,500 per month for second year student, taka
5,000 per month for third year student and Taka 5,500 per month for fourth year students.

Furthermore, if a student completes Certificate level within articled period, annual increment will
be BDT 1,000. If a student completes Professional level within articled period, annual increment
will be BDT 1,500. Please note that annual increment could vary according to firm policy but
will not be less than ICAB prescribed amount.

Achieving Degree:

When a student successfully completes articleship, he/she achieves CA(CC) title. CA(CC) means
CA course complete. It is earned even if no subject is passed in theoretical part. A student has to
complete both practical part and theoretical part in order to pass CA course and achieve ACA
degree. ACA means Associate Chartered Accountants and is a person who have successfully
passed CA course. When a person becomes an ACA, he/she may apply for membership in ICAB.
At the time of application for Associate membership, applicant has to pay total of BDT 30,200
(15,200 as admission fee and 15,000 as Annual membership fee). After 5 years from becoming
an Associate member, applicants are eligible to become a Fellow Member (FCA) of the institute.
At the time of application for Fellow members another BDT 15,200 have to be paid.

Working Hours:

Working hours for a CA student is typically 9 am to 5 am for 5 days a week but most of the time
a student has to overstay till the work is complete.

Working Areas:

CA students mainly do External Audits, Internal Accounting Services and Audits, Tax & Vat
Services, Consultancy and Cash Incentives etc.

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4.2 Overview during Covid-19

We all know Covid-19 pandemic is not only causing harm for our health but also harming our
economic life and situation. CA students also facing many crises till date. Such as-

 Currently most of the CA student leads bachelor life and they mostly came from village
to study here. So, in order to continue their study and work they had to remain in Dhaka
but because of this pandemic they are not getting their monthly allowances as a result
they are facing financial crises.

 Many of the firms putting pressure to the students to work 9 am to 5 pm despite not
providing any safety equipment such as hand sanitizer, mask, gloves, PPE etc.

 Many of the firms even not interested to grant general leave to its students and asking
them work anyhow. If a student couldn‟t work or come to the firm due to safety concern,
some firms are cutting down their monthly allowances.

 Due to Covid -19 pandemic all educational activities of ICAB such as classes and exams
are on hold and till now any official update wasn‟t given regarding that.

Aside from that, there are some firms trying to provide and look after its students as much as
they can. They are giving all type of safety equipment free of cost to its students and maintaining
work flow by introducing as a roster system. Some of the firm even introduce online work mode
for its students because of that students can work from their home.

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Chapter-5
Analysis

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 Chapter-5
Analysis
5.1 Introduction

This part includes the analysis of the survey, “Current Situation of CA Students” which is
collected from the CA students of top 5 CA firm in Bangladesh via Google questioner form.

5.2 Survey Analysis

Question No 1. How long you have been registered as an Articleship Student?

Out of 40 respondents, I found 17.1% are within 3-6 months, 24.4% for both 6-12 months &
more than 1 year and finally 34.1% for more than 2 year have been registered as an articled
student.

(Made from Google survey Form)

Figure: 5.1

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Question No 2. Your Educational Background

Out of 40 respondents I find that 12.5% completed S.S.C. and H.S.C, 60% completed graduation
degree and 27.5 % completed their post-graduation degree. From that I can deduct the graduate
students are more eager to join CA at that stage rather than post graduate. SSC&HSC completed
students is rather few in this sector as ICAB recently allow HSC completed student to registered
under them and join CA profession.

(Made from Google survey Form)

Figure: 5.2

Question No-3 Do you get any type of guidelines or proper information’s about CA form your
Educational Institution such as university or college.

From this question I found that more than 70% CA student didn‟t get any kind of guidelines or
information about CA profession when they are studied in universities and colleges. It‟s really a
surprising result as CA is one of the top professions in Bangladesh for business students.

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 (Made from Google survey Form)

Figure: 5.3

Question No 4. Reason behind Choosing this Sector

Out of 40 respondents I found that most of the CA students choose this career because it‟s one of
the most prestigious professions for the business student. Besides that I found out that some
people came into this profession because of their family and friends asked them to do that. Again
some people came into this profession as they want a better future.

Question No 5. In which CA Level are you currently in?

Although the respondents were a good mix of articled students, a staggering 65.9% are still in
Level-1. 26.8% are in Level-2 and only 7.3% are in level 3. Therefore, it is prove that it is still
quite challenging to pass accountant exams.

(Made from Google survey Form)

Figure: 5.4

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Question No.6 Currently the articleship for CA student is 3 years. Are you satisfied with that?

Form the 40 respondent I found that 60% of student were not satisfied about the length of
articleship period. Moreover almost all suggested that the articleship period should 2 to 2, 5
years at max.

(Made from Google survey Form)

Figure: 5.5

Question No-7 Are you satisfied with the Study Materials & CA Coaching Classes which is
provided by ICAB?

Out of 40 respondents I found that almost 60% (58.5 precisely) CA students are dissatisfied
about study materials & coaching classes, where almost 25 % was being neutral and 17.1% are
satisfied with the study material and CA coaching Classes.

This large percentage of dissatisfaction mainly arises from the lack of study material and absence
of proper study guidelines.

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 (Made from Google survey Form)

Figure: 5.6

Question No-8 Do you think study manuals which are provided by ICAB is enough to pass the CA
exam?

Out of 40 respondents more than 60% students‟ belief that study manual (Text book for CA
Exam) which is provided by ICAB is not enough to pass the exam.

(Made from Google survey Form)

Figure: 5.7

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Question No-9 Are you satisfied with the exam leave which is prescribed By ICAB?

Form this question I found out that more than 70% of CA students was not satisfied with the
current exam leave which is prescribed by ICAB. Currently a total 60 days of exam leave is
given by ICAB for entire articleship period. Most of the students think it should be more than 70
days.

(Made from Google survey Form)

Figure: 5.8

Question No-10 Are you getting the minimum amount of Allowances on a monthly Basis?

Out of 40 respondents I found that more than 80% CA student get the minimum amount of
allowances on a monthly basis. Currently the minimum monthly allowances are only 4 thousand
and five hundred taka.

(Made from Google survey Form)

Figure: 5.9

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Question No-11 Do you think the pay scale of monthly allowance is enough for a student
considering they have to work From 9 AM to 5 PM on a daily basis?

Out of 40 respondents almost 80% CA students‟ belief that the monthly allowances for a CA
student need to be change as soon as possible where almost 15% of CA student remain neutral.
Moreover most of the students state that the least amount of allowance should be at least 10
thousand taka.

(Made from Google survey Form)

Figure: 5.10

Question No-12 Do you get any type of Educational aid (For theory Part) form your respective CA
firm?

Form this question I found that more than 60% of CA students are not getting any educational
aid for theory part from their respective CA firm.

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 (Made from Google survey Form)

Figure: 5.11

Question No-13 What Type of practical work you are involved, in your CA firm?

Out of 40% respondents a total 34% students involve in external audit, 12% students involve
with Internal audit ,12% student involve with tax & vat service ,26.8% student work in
Accounting service and finally 14% students are involved with Cash incentive. This work
involvement has a great deal of importance as most of the practical knowledge a student can
acquire, is from Accounting service and tax & vat service, where most of the students currently
involved with external audit which will not provide a great value for their job career in the
future.

(Made from Google survey Form)

Figure: 5.12

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Question No-14 Are you satisfied with the practical knowledge which you are getting form
your respective CA form during the course of Articleship?

From this question I found out that more than 75% CA student thinks that the practical
knowledge they are getting from their firm is satisfactory.

(Made from Google survey Form)

Figure: 5.13

Question No-15. Mention At least two problems which an article students of ICAB face
during their Articleship Period?

From this question I found out that the top most problems which an article students of ICAB face
during their Articleship Period is-

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 Poor Allowance structure Poor Study materials and modules

Excessive work load Excessive Working hour

Insufficient Leave Insufficient working guidelines

Shortage of study time Proper practical training

Attending Class after office hour Too much travelling

Frustration Low structure of conveyance

(Made from Google survey Form)

Figure: 5.14

Question No-16 Do you get your Monthly allowances properly during this pandemic time?

Out of 40 respondents I found that more than 50% of CA students are getting their monthly
allowances despite facing this Corona situation where 46.3% are not getting their monthly
allowances properly.

(Made from Google survey Form)

Figure: 5.15

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Question No-17 Do you still have to work 9 Am to 5 Pm?

Even in the pandemic time I found that more than 70% CA student have to work from 9 am to 5
pm on daily basis.

(Made from Google survey Form)

Figure: 5.16

Question No-18 Do you get any type of safety equipment such as mask, gloves, hand
sanitizers from your CA firm to protect yourself from Corona?

From the results of the response by the respondents, it was seen that more than 50% of CA
students are getting necessary safety equipment like one time mask, hand sanitizers, gloves form
their respective CA firm where 46 % student had to buy these product on their own.

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 (Made from Google survey Form)

Figure: 5.17

Question No-19 Do your firm take any type of safety measure to ensure your good health?

Again it can be seen that more than 90% of CA student state that, their firm is trying to ensure
their good heath by taking safety measure against Covid-19.

(Made from Google survey Form)

Figure: 5.18

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Question No-20 Are you satisfied with the safety measure which is taken by your CA firm?

A significant 61% of CA student are not satisfied with the safety measure which was taken by
their respective CA firm.

(Made from Google survey Form)

Figure: 5.19
Question No-21 Due to Corona situation do you get any type of extra financial aid such as
conveyance from your firm?

From this question I found that more than 65% of CA student do not get any type of extra
financial aid such as conveyance fee or transport fare where more than 30% CA student are
getting that kind of aid from their respective firms.

(Made from Google survey Form)

Figure: 5.20

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Question No- 22 State two major Problems you are facing in this pandemic time?

There were many problems that came up from this question. Below some of the basic problems
that I could found from this question and that is-

Steady Allowances Safety Issues

Excessive transport fees No extra financial aid or support

Physical presence on client's premises Excessive Job pressure and Long hour
which is risky

Table-5.1

5.3 Cronbach’s Alpha

Case Processing Summary

N %
Cases Valid 40 100.0
Excluded(a) 0 .0
Total 40 100.0
Table-5.2 Case Processing Summary (Source: Author Calculation)

Reliability Statistics

Cronbach‟s Alpha N of Items

.415 22
Table-5.3 Case Processing Summary (Source: Author Calculation)

The result of cronbach‟s alpha is .415 which mainly shows that this survey was not reliable in
nature as cronbach‟s alpha needs to be .7 for it to be considered as a reliable. Again a low
cronbach‟s alpha can be generate from several reasons such as-

 Less number of questions

 poor interrelatedness between test questions or lower number of respondents

Finally if an additional research is carried out since the shortcomings then it will give more
accurate results.

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Chapter-6
Findings

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 Chapter-6
Findings

6.1 Introduction

In this chapter I will discuss about the findings which I found from the online survey analysis
and based on that I will provide my recommendation on the next chapter.

6.2 Findings from survey analysis

The main objective of this paper is to find out the situation of CA students in Bangladesh. For

that reason I design those questionnaires to pull out the real situation as much as possible. Form
the questionnaire I found out various important information‟s along with some real problems
which all CA students are currently facing. These findings are-

1. Most of the students join CA profession after they completed their graduation such as
BBA or Hons. Student who completed their post graduate don‟t have that much
eagerness to join CA after their post-graduation as CA is a professional degree and it
will take at least 3-4 years or more to complete, which really is a lengthy process.

2. Now a day‟s the numbers of business students are increasing day by day but it‟s kind
of surprising no educational institute such as universities or colleges didn‟t provide
any guidelines or motivate to choose this career to its students.

3. Most of the CA student chooses these career because of they thinks it‟s good for their
future and some of their family members or friends asked them to do so.

4. This survey also reveals that the number of level 1 student is huge compare to the
number of level 3 students which indicates passing from one level to another is quite
challenging.

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5. Most of the CA students think that the length of CA articleship should be not more
than 2.5 years as probation period is 3 to 6 months depends on the firm, so 3 years of
articleship plus probation is quite lengthy.
6. Currently one of the major problems for CA student is to get proper guidelines for the
study. Besides that they are facing many other study related problems such as
 The study material they are getting is very poor and not enough to pass the
exam.
 Inconvenient Class timing.
 Most of the lecturer of ICAB is not professional teacher rather they are ACA
degree holder and they are also partners and senior managers of various CA
firm, As a result many of them are not eager to conduct a meaningful class
session.

7. The exams leave of ICAB is 60 days for one level which is very low. Most of the CA
students think it should be more than 70 days.

8. The allowance structure for the CA student is too low. As per as the regulation of
ICAB the minimum allowance is 4 thousand taka which is really a shocking matter.
Most of the CA students state that the allowances of a CA student should be around
10 thousand as they have to work from 9 am to 5 pm on a daily basis.

9. Most of the CA students‟ shows concern that they are not getting any kinds of
educational aid from their respective firms which is also the reason for the failure of
completing CA degree.

10. From the survey I found that most of the student is involved with external audit
where it is more important to involve with accounting services and Tax & vat works.

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11. Most of the student is satisfied form the practical knowledge they are getting from
their respective firm.

12. From the survey I learn that the top problems for a CA student is –
 Poor Allowance structure.
 Poor Study materials and modules.
 Excessive work load.
 Excessive Working hour.
 Shortage of study time.
 Proper practical training.
 Attending Class after office hour.
 Too much travelling.
 Frustration.
 Low structure of conveyance.

13. This survey also reveals that during this Covid-19 pandemic time some of the
students are receiving their monthly allowance properly where a significant portion of
students do not getting their monthly allowances , hence they are suffering a huge
financial crisis.

14. Even after facing this financial crisis most of the CA students have to work 9 am to 5
pm on a daily basis, where most of them are having concern with the safety issues.

15. Due to the reason of Covid-19 the transport fare increased significantly as a result
many of the CA student are hoping to get any type of financial aid but still now a
significant portion of students are not getting anything from their firm.

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 16. With the help of survey analysis I identified some of the major problems that all CA
students are facing even in this pandemic time and those are-
 Steady Allowances
 Safety Issues
 Excessive transport fees
 No extra financial aid or support
 Excessive Job pressure and Long hour

6.3 Why CA students leaves this profession after 6-12 months

This paper main objective was to find out the current situation of CA students of Bangladesh
before and after Covid- 19. But there is another objective of this paper and that is to find out why
CA students are leaving this profession after 6-12 months.

The main reason for leaving is the lack of determination and patience. As CA academic sector is
not fully developed many students lost track of their education as well as the motivation to study.
Because of that they couldn‟t pass or complete any level which creates frustration. Besides that
the poor allowance structure also plays big role. As the allowances structure is very poor many
student cannot sustain or continue their education under ICAB. The excessive working load also
creates pressure for the CA students.

Finally the absence of proper guidelines and motivations also the reasons for the CA students to
leave this profession after 6-12 months.

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 Chapter-7
Recommendation

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 Chapter-7
Findings

7.1 Introduction

In earlier chapter (chapter 6) I describe all about my findings from survey analysis. There I also
identified some major problems which need to be solved as soon as possible for the betterment of
All CA student. In this chapter I will provide some of the recommendation from my point of
view

7.2 Recommendation from the findings

Proper Guideline- From the survey analysis I found that most of the CA students are not getting
any kinds of proper guidelines or motivation to join CA profession or didn‟t had any sufficient
info about why they should or shouldn‟t join this profession. University faculties or
administration should focus on that and must provide these type of helping guideline to its
student.

Allowances- Currently the minimum allowances for a CA student is only 4 thousand taka, which
is very poor compare to today‟s situations. Besides that most of the CA students comes from
rural areas and living in a boarding hall or in a hostel. As a result of that they need a considerable
amount of money just to lead a normal life. So, ICAB must consider that and increase the
minimum allowances at least seven thousand to eight thousand taka.

Study & Exam- It was seen that the percentage of passing each level is so low compare to other
professional degree. So, ICAB should focus on that and try to implement some changes such as-

 ICAB should improve their study modules.

 Improve the quality of their study manuals and other related books.
 Must make the class timing more convenient.
 ICAB must include professional teacher into the mix.

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  CA firms should increase their focus not only for practical knowledge but also for
the theoretical part. They should motivate and create a study environment for their
students.
 ICAB should increase the exam leave at least 70 days for each level.

Working Hour & work load- CA firm should decrease the length of working hour and the work
load so that students also can concentrate in their education. Most importantly at the time of the
CA exam.

Monthly Allowances- CA firm should provide a steady monthly allowances during this
pandemic times as without that many students cannot sustain their daily life let along their
academic life.

Safety – CA firm should provide all types of safety equipment‟s such as one time mask, gloves
etc. to its student( free of cost), as well as maintain a healthy working environment for its
students.

Conveyance- Currently because of Corona the transport cost is increasing day by day. All CA
firm should perceive that and provide a handsome figure of conveyance fee to its students to help
them.

Finally I can say this with certainty as I am also belong in this sector, if all the above
recommendation is implement properly then almost 90% of problems of CA students will be
decrease and not only it will be beneficial for those students but also ensure the betterment of our
beloved country.

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Chapter-8
Conclusion

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 Chapter-8

Conclusion

CA profession is one of the most prestigious careers in our country. Currently not only the
business students but also science background students prefer to enter this profession. Now-a-
days, professional people are highly needed in every sector of our economy. Because of the
development of corporate world, the day-to-day activities of business organizations are
extremely difficult. Also, the fresh university graduates are not be able to fulfill the gap of the
huge demand of professional business executives with accounting background/base. So, the
today‟s business enterprises are giving priority to recruit practically-efficient people/employees.
From this point of view, CA (Chartered Accountant) is a professional & lucrative degree. It gives
three (3) years practical working experience to the trainees. Also, if anyone not pass even a
part/level of CA can get a CC (Course Complete) certificate, with this one also gets good job.
Moreover, one who becomes FCA can practice by opening a firm and can enter in the
Accounting & Audit sector, like other profession eg. Engineer & Doctor.

Again, CA is a very challenging degree & one who wants to express one‟s caliber/talent, CA is
the best option. CA is a very respectful degree with high profile job and handsome salary.
Though, it is an excellent degree most of the meritorious students are not joining CA profession,
because of time and patience.

After the glorious „Independence War‟ in 1971, the necessity of skilled Accountants was very
eminent/high. And, keeping this in mind, in that period eighteen (18) FCAs created a
fixed/permanent committee to build „Chartered Accountant Order on 6th January 1973‟ which
later contributed to build the ICAB (The Institute of Chartered Accountants of Bangladesh). The
ICAB is the only body which monitors & controls the CA/Audit firms of the country. The ICAB
has been giving degrees, diplomas, & certificates with full authority in the Accounting
Profession in Bangladesh. And, ICAB is giving training practically and after a specific period
takes exam of the candidates. And one who gets FCA degree can do the „Audit Work‟ of a
company legally. An FCA/CA (CC) becomes very skilled in the Tax & VAT Matters, Banking
activities like L/C or loan/credit sanction papers, Company Matters such as new company
registration or annual return, Accounts & Financial Statement preparation, Auditing etc. Another

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important point is the FCAs are getting popularity in the different countries of Africa, Middle
East, & South-East Asia. An ACA can work as a top level executive in bank, insurance, NGO,
private company, govt. organization, MNC & TNC. And the industry/sector may be real estate,
chemical, cement, automobile, engineering, pharmaceutical, telecommunication, etc.

Presently, there is a big demand of FCA in the fast growing emerging economy of Bangladesh.
Only few FCAs are available for the huge work load of corporate world & govt. organization.
Recently more students are trying to join in this sector and it will be more flourish if the ICAB
takes necessary steps for its students.

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References:
1. https://www.quora.com/What-is-some-information-about-studying-CA-in Bangladesh, July
04.2020, 9.15 pm.

2. http://www.icab.org.bd/icabweb/webGeneralContent/view/13737, July 04.2020, 9.45 pm.

3. https://www.newsbytesapp.com/timeline/Career/54745/253369/why-you-should-choose-ca-as-
a-career,July 05.2020, 10.20 am.

4. https://redwanadb.com/2014/08/19/studing-ca-in-bd/, July 05.2020, 2.20 pm

5. SĂLIȘTEANU, S.-F., & OROS, O. E. (2015). A PRESENTATION OF THE ROLE PLAYED

BY ACCOUNTING IN ECONOMIC DEVELOPMENT. Challenges of the Knowledge Society.
Economics, 705-706

6. Jaaffar, M. Y., Abdul Aziz, D., Ibrahim, M. A., JaafarSidik, M. H., Tajuddin, M., Abdullah
Sani, A., and Muhammad, A. (2017). ACCOUNTING STUDENTS‟ PERCEPTION AND
THEIR INTENTION TO BECOME PROFESSIONALLY QUALIFIED ACCOUNTAN. SHS
Web of Conferences, 36, 00008. https://doi.org/10.1051/shsconf/20173600008

7. Felton, S., Buhr, N., &Northey, M. (1994). Factors influencing the business students‟s choice
of a career in chartered accountancy. Issues in Accounting Education, 9(1).

8. Law P., and Yuen D. (2012). “A multilevel study of students‟ motivations of studying
accounting: Implications for employers, Education + Training”, Vol. 54 Iss: 1, pp.50 – 64

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9. Sugahara, S., Hiramatsu, K., & Boland, G. (2009). The factors influencing accounting school
student‟s career intention to become a Certified Public Accountant in Japan. Asian Review of
Accounting, 17(1), 5-22. https://doi.org/10.1108/13217340910956487.

10. Sugahara, S., & Boland, G. (2006), Perceptions of the certified public accountants by
accounting and non-accounting tertiary students in Japan. Asian Review of Accounting, 14 (1/2),
149-67. https://doi.org/10.1108/13217340610729518

11. Zakaria M, Wan Fauzi W.A.,& Hasan S.J.(2012). “Accounting as a Choice of Academic
Program”, Journal of Business Administration Research Vol. 1, No. 1, 43-56.

12. Uyar, and Kuzey. (2011). “Factors Affecting Students' Career Choice In Accounting: The
Case Of A Turkish University”, American Journal of Business Education; Oct2011, Vol. 4 Issue
10, p29.

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Appendix:

Survey Questionnaires on Current Situation of CA Students.

Name (Optional) Firm you are Currently In

(Optional)

Question No 1. How long you have been registered as an Articleship Student?

 3-6 Months
 6-12 Months
 More than 1 year
 More than 2 year

Question No 2. Your Educational Background-

 SSC/HSC Complete
 Graduate
 Post Graduate

Question No-3 Do you get any type of guidelines or proper information’s about CA form
your educational Institution such as university or college.

 Yes
 No

Question No 4. Reason behind Choosing this Sector-

Question No 5. In which CA Level are you currently in?

 Level-1
 Level-2
 Level-3

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Question No.6 Currently the articleship for CA student is 3 years. Are you satisfied with
that?

 Satisfied
 Dissatisfied

If not please state your preferred Articleship time period?

Question No-7 Are you satisfied with the Study Materials & CA Coaching Classes which is
provided by ICAB?

 Satisfied
 Neutral
 Dissatisfied

Question No-8 Do you think study manuals which are provided by ICAB is enough to pass
the CA exam?

 Yes
 No

Question No-9 Are you satisfied with the exam leave which is prescribed By ICAB?

 Yes, Satisfied
 No, Dissatisfied

If not please state your preferred exam leave-

Question No-10 Are you getting the minimum amount of Allowances on a monthly Basis?

 Yes
 No

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Question No-11 Do you think the pay scale of monthly allowance is enough for a student
considering they have to work From 9 AM to 5 PM on a daily basis?

 It is enough
 Neutral
 Need significant change and update.

State your preferred pay scale

Question No-12 Do you get any type of Educational aid (For theory Part) form your
respective CA firm?

 Yes
 No

Question No-13 What Type of practical work you are involved, in your CA firm?

 External Audit
 Internal Audit
 Tax & Vat Service
 Accounting Service
 Cash Incentive

Question No-14 Are you satisfied with the practical knowledge which you are getting form
your respective CA form during the course of Articleship?

 Yes
 No

Question No-15. Mention At least two problems which an article students of ICAB face
during their articleship Period?

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Question No-16 Do you get your Monthly allowances properly during this pandemic time?

 Yes
 No

Question No-17 Do you still have to work 9 Am to 5 Pm?

 Yes
 No

Question No-18 Do you get any type of safety equipment such as mask, gloves, hand
sanitizers from your CA firm to protect yourself from Corona?

 Yes
 No

Question No-19 Do your firm take any type of safety measure to ensure your good health?

 Yes
 No

Question No-20 Are you satisfied with the safety measure which is taken by your CA firm?

 Yes
 No

Question No-21 Due to Corona situation do you get any type of extra financial aid such as
conveyance from your firm?

 Yes
 No

Question No- 22 State two major Problems you are facing in this pandemic time?

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