Careers in Management

– What does a CA Do?

Vipin MK Srinath
 Intro

• As a chartered accountant you'll give advice, audit accounts and provide trustworthy
information about financial records.
• This might involve financial reporting, taxation, auditing, forensic accounting, corporate
finance, business recovery and insolvency, or accounting systems and processes.
Particulars CA Accountant

Qualification Professional (member of ICAI) B.Com / BBA

Work done Highly specialized Low to moderate level specialization needed

Domain of Expertise Varied (not necessarily accounting) Limited to financial accounting

Salary Starts at Rs. 40,000 per month Starts at Rs. 15,000 per month

Organizations Self employed or Big 4 Small or Medium Sized firm or not CA Firm

CA vs Accountant
 Subjects Studied in CA
Level Subjects Studied

Level 1 1. Principles and Practices of Accounting.

2. Business Laws and Business Correspondence and Reporting.
3. Business Mathematics and Logical Reasoning & Statistics.
4. Business Economics & Business and Commercial Knowledge.

Level 2 Paper 1: Accounting

Paper 2: Business Laws, Ethics and Communication
Paper 3: Cost Accounting and Financial Management
Paper 4: Taxation
Paper 5: Advanced Accounting
Paper 6: Auditing and Assurance
Paper 7: Information Technology and Strategic Management

Level 3 Paper 1 Financial Reporting

Paper 2 Strategic Financial Management
Paper 3 Advanced Auditing and Professional Ethics
Paper 4 Corporate and Economic Laws
Paper 5 Strategic Cost Management and Performance Evaluation
Paper 6A Risk Management
Paper 6B Financial Services and Capital Markets
Paper 6C International Taxation
Paper 6D Economic Laws
Paper 6E Global Financial Reporting Standards
Paper 6F Multidisciplinary Case Study
Paper 7 Direct Tax Laws and International Taxation
Paper 8 Indirect Tax Laws
Requirements on Your Side

1 2 3 4
Be willing to put at Attend classes Ensure you have Know that if you
least 6-8 hours of without missing a parent / sibling have put the correct
study in a day day support effort, you cannot
lose out on the
rewards.
 Role of a CA

• The most common roles taken by a CA are

• Audits (field work)
• Taxation (direct and indirect)
• However, you need not limit yourself to this.
• Any other finance related role in commerce is also possible as a CA.
 Role of a CA

• Auditing means to evaluate financial reports, stock reports or any report where money is
involved.
• Audits are procedures that can take days to complete and will involve travel.
• For example you can evaluate the stock of coffee at company in Chikmaglur
• Or you can audit the financial reports of a government company.
 Role of a CA

• Direct taxes are income taxes (most of the time)

• These involve filing returns on behalf of clients.
• The process is time consuming especially for large businesses
• This is a desk job and involves regular interaction with the Income Tax Dept of India
 Role of a CA

• Indirect taxes are GST and other state taxes if any.

• Indirect taxes also include customs (foreign trade)
• GST filing needs domain expertise.
• Claiming of refunds are also a critical role by a CA.
• This is a desk job and involves regular interaction with the Central Board of Indirect Taxes
and Customs
 Role of a CA

• Many CAs consider self employment

• However, this does not mean you will have clients come to you.
• You need to do some marketing on your end.
• Why should a potential client choose you over another CA?
 Role of a CA

• Some CAs may work in a “non CA firm”

• For example you could be a CA for a firm that is into venture capital.
• You can advise on investment, financial management and other aspects related to wealth.
• A CA can also work in an airline company managing the finances of the airline company.
 But why do most choose Audits and Taxes?

• The 3 year interning

• Most of the CA interns work in a firm where they key specialization is audits and or taxes.
• Hence are accustomed to the process.
• You can however break the stigma and explore many other lucrative opportunities
 The Challenge

• CA is not a difficult course.

• It is difficult if you are not cut out to complete the course.
• There is certainly a greater degree of effort needed.
• But the returns do not disappoint.