The new rule of ICAI encourages the students to update their knowledge at a young age. If they intend to put in the effort to prepare for the CA foundation, then they raise their standard to the syllabus of the CA professional course. Time is the factor that creates magic in the students. The academic institutes provide coaching to the CA foundation. It is the responsibility of the students to consult the academicians regarding their plans. If the preparation is proper, the students complete their 12th standard in March and appear for CA foundation in May. This preparation makes career planning at an early age.
As the saying “Early birds catch prey”, students need to be active to the goal that they want to achieve at a very young age. Theory subjects become easy if the conceptual understanding is better. Keep your focus on law and business studies. But, for mathematics, logical reasoning, Accountancy, and statistics, there is a need for logical understanding. For this logical part, real-time exposure and knowledge make the ground. RR Academy provides an online foundation course to the students to bridge the gap in their understanding. At a young age, if they value the concepts and logic behind the chartered accountancy course, they get the natural intact to the evolving finance industry. There is no limit for the upper age limit in CA. The opportunities in the private and public sector companies have an upper age limit. So, completing CA at a young age provides rapid career growth. At the same time, knowledge and performance would bring tons of opportunities though you complete CA lately. Let me see the advantages of CA in two different age groups.
How do you become a CA at 21?
If you want to clear the CA foundation with the first attempt, then do not use options in the syllabus. Completeness in the syllabus is the primary point that helps to clear the CA foundation exam. In the 12th standard, if you have a 90 percent in mathematics and accounts, then it is easy for you to complete CA. When writing CA foundation, the maturity level is less but starting at a young age improves confidence. CA exam is not only the practical game, but it is the emotional game. So, confidence and maturity help the students to do the preparation continuously. As there is a distraction to the students at a young age like the mobile, sports, social media, and films, it is quite difficult to start early for the students. But, a balanced life prepares the student for a top-level profession. Students need to get trained in time management in their later chartered accountancy profession.
Will it be too late to complete a CA at the age of 25?
Government jobs insist on age criteria, but private jobs and public sector jobs give first importance to experience and knowledge. So, if you have the experience, knowledge, and performance, then you are the hero of the game. The degree of understanding each student possesses will create a mark on the future of the student. If you are late, then you have a wonderful experience with the preparation for CA exams. Rather than bookish knowledge, the knowledge which comes out of the experience makes difference on the job. Bookish-knowledge enhances the subject knowledge. Practical knowledge enhances the specialization related to the particular field. In the case of CA, the following scenarios raise the importance of practical-knowledge.
- The inventory management in the company is as per the accounting format. Inventory value is part of the cost of goods sold; profit earned and appears as a current asset in the balance sheet. How to value the inventory is it as per the market cost or unit price? Imagine your job is with a pharmaceutical company, and in that position, practical knowledge is essential to decide about the inventory value. This inventory value also serves as collateral for the loan. So, it is a core part of the business to give accurate cost to the inventory.
- The tax matters change as per the amendments every year. Tax planning is the core part that demands practical knowledge.
- The GST provision and practical knowledge matter a lot when preparing the Bank reconciliation statement.
- Knowledge about legal compliances differs in each type of industry. For handling such scenarios, practical knowledge is required.
- The working capital management is to analyze the cash flow statement concerning funding and business survival. Practical knowledge is essential to manage the working capital in large scale and small scale industries.
Auditing minimizes the mistakes to create the internal framework for risk management. The contemporary business environment is demanding an international standard. A chartered accountancy certificate is a certificate from a professional body. The word ‘chartered’ says that you hold the top position in your profession. So, strategic management is the core area of the business where leadership and decision making help the company. Chartered Accountancy course is open to the science students, and the eligibility is pass marks in 12th standard. A chartered accountancy course is equivalent to the degree of post-graduation. So, Chartered accountants can go for a Ph.D. after completing a Chartered accountancy course. Learning has no boundaries and age limits. The deciding factor of a student’s future is knowledge and interest. Starting at a young age creates interest sub-consciously within the student. Starting at an elder age gives meaning to the experience and investment of the learner.