The CA course is no cakewalk. It requires rigorous studying, a very challenging articleship period of around 3.5-4 years as well as tough-to-pass exams. You should take this qualification up only if you are reasonably sure about your abilities to devote the time and efforts required for the course. Career wise, it makes sense to do this course if:
1) You are interested in pursuing a career in auditing/taxation/accounting.
CAs by definition, take care of a company’s accounts, taxation, legal issues and also conduct audits. If this is something that appeals to you, you have to look no further. As a CA, you can select an area of your expertise: be it accounting, taxation, financial consultancy, tax audits, direct and indirect taxation, etc. Hence, CA is often a preferred choice.
2) You are interested in pursuing a career in corporate finance.
Corporate finance entails managing a company’s finances, funding, project finance, treasury etc. This is a challenging and engaging job and in India, these jobs almost always go to CAs. As a CA you can play an important role in corporate finance by overlooking accounting tasks, preparation of financial statements, etc.
3) You are interested in pursuing a career in the financial domain, but don’t know which one yet.
You love accounting and finance but you are not very sure which field within finance you want to take up. CA is a very safe bet provided you have the grit to go through with the course. The passing percentage is quite low and clearing the exam is no mean feat. However, return on investment of the CA curriculum is quite good, since you’ve no dearth of opportunities in this case. The pay scale is extremely high and investment is comparatively lesser than other finance courses in India.
4) You want to start your own practice.
If you want to start your own CA practice, needless to say, this is the course you need. A CA has the statutory right to conduct audit under relevant rules and regulations of India, for e.g., the companies who are eligible for statutory audit need to get their accounts and tax filings audited only through a qualified chartered accountant. This makes CA a popular course in India.
The funnel system of CA exams is a reminder that the course is quite challenging and taxing through all fronts. Hence, students need to assess their liking and abilities before taking up this course. Time management is quite essential since students have to pursue rigorous articleship while studying. Hence, only those who’re really passionate about accountancy and taxation should take up this course.