CA, CMA, and ACS professionals work in the following places: Big Four firms, Big Five firms, Big Six firms, MNC companies, software companies, healthcare sector, MSME sector, listed companies, private companies and government sector. The roles and responsibilities are different in each domain. The blog intrigues the readers with information on the career path of the CA, CMA and ACS professionals and the monetary benefits of each role. The career graph blog walks the readers through the domain, role, responsibilities and salary package. The specialized knowledge of the professionals makes them domain experts. Interest and growth are the factors that attract students to professional courses. Pay attention to the transformation and grow exponentially in the auditing, finance and legal profession. RR Academy trains the students and places them in the top roles. RR Academy understands the importance of creating an educated society and strives to reach students in remote areas. Learning and growing is the all-time work of the professionals working in top management roles.
CA:
Chartered accountants are capable of handling financial reporting, income tax, corporate finance, auditing, investment banking, management accounting, financial management, management consulting, capital and money market, debt syndication, mergers and acquisitions, forensic accountant, statutory audit, treasury, investment management, business analyst, risk management, project management and accountant. The role and growth of the professionals differ according to the subject they choose to explore.
Chartered accountants work as accounts officers, assistant managers, financial controllers, internal audit analysts, statutory audit analysts, forensic accountants, Receivables analysts, treasury, chartered financial analysts, audit associates, and tax associates. Listed companies appoint auditors to check the financial statements and prepare financial reports. Private companies appoint auditors to conduct statutory audits within thirty days of the registration.
In the manufacturing sector, chartered accountants are financial controllers or financial analysts. The candidates take care of challenges in the supply chain management, and production processes, track profitability, and follow industry regulations.
In the healthcare sector, chartered accountants are the business analysts. The candidates track investments, costs, statements, and bookkeeping services and maintain budgets.
In the government sector, chartered accountants can work as a treasury. The treasury takes care of taxation, finance and market competition. Chartered accountants working as a treasury analyze the opportunities and risks of running a business or government department.
In the consultation sector, a chartered accountant checks and signs the documents. Before starting a company, the documents should be signed by a practising chartered accountant.
In banks and financial services, a chartered accountant is a risk analyst. The candidate deals with risk assessment, credit analysis and investment banking.
In the MSME sector, chartered accountants guide the promoter. The role of a chartered accountant in the MSME sector is auditor or functional head.
In the software industry, a chartered accountant can work under the following names: a data analyst, functional consultant or subject matter expert. The candidates handle the implementation process, and best practices according to the business requirement.
Salary of a Chartered Accountant:
Chartered accountants working in India earn two to 13 lakhs of salary per annum. Highly experienced chartered accountants earn a salary of 40 lakhs per annum.
CMA:
Cost accountants are good in budgeting, data analysis, financial analysis, financial modelling, corporate finance, research, valuation, financial reporting, investment management, taxation, strategic cost management, inventory management, competition analysis, business law, auditing, mathematics, operations management, problem-solving, compliances, risk management, credit risk management, market risk, project risk management, operational risk, risk mitigation, mergers and acquisitions, organizational skills, cash flow management, financial leadership, and global economics.
The cost and management accountants work in the following roles: Financial Analyst, Management Accountant, Senior Accountant, Cost Accountant, Financial Risk Manager, Corporate Controller, and Chief Financial Officer (CFO).
Cost accountants work in the manufacturing, retail and banking sectors. At the entry level, the job roles are junior accountant, and staff cost accountant. In mid-level management, cost accountants work as senior cost accountants and branch managers. Cost accountants take care of cost centers and track the profitability. In top-level management, cost accountants work as financial controllers, vice presidents, and chief financial officers.
In the entry-level position, cost accountants maintain accounts, reconcile statements, prepare reports, analyze financial information and work with technology-related processes. In the mid-level position, cost accountants collect data, analyze data, calculate operational costs, assist accounting personnel, and advise the management about revenue generation and cost control. In the senior-level role, a cost accountant generates high-level reports to make management decisions, oversee financial activities, train staff, hire staff, implement cost strategies, implement financial strategies, and increase profitability.
Salary of a cost and management accountant:
Cost accountant working in India earns a salary of 3.5 lakhs to 37 lakhs. An experienced cost accountant in India receives a salary of 50 LPA.
ACS:
Company secretaries have specialized knowledge of corporate laws, capital markets, securities laws, and corporate governance. Company secretaries work as compliance officers, ROC managers, vice presidents, managers and general counsel.
A company secretary has specialized knowledge in corporate governance and secretarial services, corporate laws advisory and representation services, financial market services, and management services. A company secretary working in a company handles the following functions: report to the board members, ensure compliance, guide decisions, assist in corporate governance, educate best practices of the board and take over specified legal functions. A company secretary doing independent practice takes care of secretarial audits.
Listed companies with a paid-up capital of ten crore or more must appoint a company secretary. A public company with a turnover of two hundred fifty crore rupees must conduct a secretarial audit.
Salary of company secretary:
Company secretaries working in India earn a salary of three lakhs to 15 lakhs. After gaining experience, the salary depends upon the performance of the candidate.
Final Words:
Initially, Indian chartered accountants working in foreign countries earn a salary of 1.5 to three lakhs per month. After gaining experience, the salary increases. In foreign countries, the equivalent qualification helps understand the domestic tax and corporate laws. The equivalent qualification increases the opportunities and growth of the professionals. A cost accountant working abroad receives a salary of $55,000 per year. After gaining experience, the salary increases. The salary of a company secretary abroad is as follows: INR 2 LPA in Canada, INR 11 LPA in Australia, INR 60 LPA in the United Kingdom, and INR 29 LPA in the United States. The interest and experience of the professionals show the path to success.