Chartered accountant is the title used by the members of certain professional accountancy associations. Though chartered accountant comes under the profession accountancy, the duties and responsibilities of a chartered accountant is different from the accountancy. Chartered accountants work in all fields of business and finance. So the help of a professional chartered accountant coach is that sufficient for a student to understand clearly the difference between the CA and an accountant, also the responsibilities of a CA and an accountant.
It is the duty of the coach to make the students know about the different sectors a chartered accountant can work with. For example some are engaged in public practice work, while others work in the private sector and some are employed by the government bodies.
RULES AND REGULATIONS:
The rules and regulations for being a charted accountant is different from country to country. For example:
In the UK, there are no license requirements for an individual to describe himself/herself or to practice as an accountant but a chartered accountant must be a member of the organizations. The different types of organizations are ” The institute of chartered accountants in England and Wales, The institute of chartered accountants of Scotland and The institute of chartered accountants in Ireland”.
These information will help the students to know more about the post and also helps them in deciding their location to be worked. Therefore a chartered accountant coach should be well versed about the detailed rules and regulations meant for a Chartered accountant.
RULES IN INDIA
In India it is the Institute of Chartered Accountants of India is responsible for regulating the profession of chartered accountancy. This was found under the Act of 1949, and ICAI is responsible for examination and licensing of its members.
A person is awarded the position of chartered accountant after passing the relevant examinations and completion of three and a half years of article ship training. This article ship training is done to make sure that the trainees have a mix of theoretical and practical training before they become members. There are certain sections in which a chartered accountant holding a certificate of practice can carry out.
Giving the awareness about these information will help to create a motivation in the trainees and to understand more about their responsibilities.
- For every field there is an eligibility section which is taken into consideration. A trainee should know about all these eligibilities so as to construct a strong and sound basement for the profession as a Chartered accountant. Here comes the exact help and need for a professional coach in this field, for showing the trainees the correct path for their journey.
- The foundation course for the eligibility of being a chartered accountant is 10+2 or graduation in commerce with 50% marks. In the case of non-commerce graduates with Mathematics need to secure 60% marks and non-commerce graduates with subjects other than mathematics with 55% of the total marks.
- Age should be not less than 18 years.
Details of the examination eligibility
- 10+2 can enroll for the foundation courses
- The completion of graduation with at least 50% marks
Foundation course :
- Paper 1- fundamentals of accounting
- Paper 2- mercantile law
- Paper 3- mathematics and statistics
- Paper 4- economics
The duty of a chartered accountant also includes, making the trainees awareness about the seriousness of the dates of examinations, method and procedures of registrations, centers of examination, institutions for the courses etc.
The coach should make sure that he had told about the minimum and the maximum marks that a candidate should acquire for passing the examinations. This would help the trainees to sharpen his effort for attaining his aim “chartered accountant”
Last but the least to become a chartered accountant one has to pass the intermediate and final examinations conducted by the institute of chartered accountants of India.
While preparing the trainees for the position of chartered accountant the coach should also keep in mind to describe them about the job prospects of the field, like
Chartered accountants are sought by corporates, consulting firms, audit firms, commercial banks and regulatory bodies such as the Reserve Bank and the Securities and Exchange Board of India.
COACHING INSTITUTE OF CHARTERED ACCOUNTANT:
K.T. Classes Maharashtra
Institute Sadguru Andhra Pradesh
Acharya Academy Tamil Nadu
R.K. Institute of commerce Andhra Pradesh
IQ institute Chandigarh
Profexcel Foundation Private Limited Kerala
RS Class Maharashtra
Professional Academy of commerce Delhi
CMS professional academy Andhra Pradesh
Arihant institute Gujarat
Chaturvedi tutorials West Bengal