Finance is one of the most important functional fields in any commercial organization and Chartered accountants play a major role. Among the different options in the field of commerce, CA was among the most respected and well-paid professions. A CA is a person who, following the final examination of the institution, becomes a member of India’s Institute of Chartered Accountants. The main responsibility for a company’s financial health is chartered accountants.
One really should be good with numerals and have an analytic mind to interpret facts and figures to excellence in this profession. The approach should be logical and methodical. As their work involves debating financial issues, they should be able to express themselves clearly, in many ways and sometimes with people without a background in financing. This requires a thorough understanding of the subject with good written and verbal know-how. Their work is usually tedious, particularly at the end of the financial year, so they must be able to sit long and handle such time, mentally and physically.
If you are a CA, you have to be aware that you have been a student (trainer) for three and a half years. The best part of CA is the paperwork in which a student can learn many things that he/she only has read in books during his/her school days. If you make the paperwork properly and from a decent CA firm, you will teach all the skills you want to become a good CA and to have a godly job.
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The skills needed for a good job as a CA are as follows:
- Comprehensive technical knowledge of different laws
- Practical involvement under different laws of different interpretations
- Capability to explain the Do’s and Don’ts to the customer. The effects of failure to comply
- Information confidentiality
- Independence free of interest
- Audit planning
- Ability to report in the best way possible the financial statement
Chartered Accountancy is the profession in which the customer must provide the auditor with all his information and financial statements. It contains different confidential data that must not be divulged until and if required by law, and it is also referred to in the guidelines issued by the ICAI to its members.
An AC has to handle a wide range of information about confidentiality, such as mergers, demergers, amalgamation, dissolution, conversion, etc. You can also imagine how much loss a company will suffer if such information is disclosed before time. This can affect not only the financial performance of the company but also its market reputation.
Therefore he/she has to make sure that information is not used for any person’s benefit or otherwise at every time the company handles the financial statements of the company. The first and foremost quality of a chartered accountant is confidential in terms of details. Not until permission of the customer himself is given should any of the information collected during his work be disclosed.
Honesty and precision are the meanings of integrity. A CA must be honest and straightforward in carrying out its duties. If anything comes into his notification that is false or misleading he is responsible for the management.
CA has to fulfill its duties in accordance with their values, ethics and principles. If a Chartered Accountant is aware that some activities that might result in large tax obligations later on are being conducted by the organization, he should bring the accountant into the management notice immediately and keep the assessor from further evaluation proceedings.
These abilities and skills of CA students can be improved only if he will prepare for his CA exams at his best. And one of the best ways to do it is CA exam series for CA examination.