In 2021, UGC and ICAI have declared that chartered accountants are equivalent to postgraduates. Non-graduate CAs are eligible to work as registered valuers. A previously chartered accountant with an experience of three years as a chartered accountant along with graduation is eligible to work as a registered valuer. Though it is an old amendment, it helps for understanding the subject knowledge in the CA syllabus. Students studying ACCA are provided with a course to BSc (Hons) in applied accounting from Oxford Brookes University for ACCA students. This course is exclusively for professionals with ACCA certificates. Graduation and professional degree are the basic qualifications for Indian and global jobs. Chartered accountants are eligible to apply for master’s degrees in foreign universities. Non-graduate-CA can work as registered valuers, they can do a master’s degree in a foreign university and pursue a PhD in an Indian university. The blog provides information worth sharing for chartered accountancy students. The job and higher education go hand in hand for a professional student.
What is the job of a “registered valuer”?
CA work as registered valuers as per the criteria of MCA. They value the asset, liabilities and net worth of the company. Valuation has three main divisions namely land and building, securities and financial assets, and plant and machinery. Chartered accountants, merchant bankers, Engineers, Architects and persons with qualifications as prescribed by the central government are eligible to be registered valuers as per the companies act, 2013. The different methods of valuation are net asset value method, yield method, market price method, discounted method, comparable transaction multiples method, comparable company’s multiples methodology, price of recent investment method, liquidation value, and a total of the parts valuation, and weighted average method. The SEBI, RBI, and tax authorities also introduce new methods for calculations.
What are the areas in which a qualified CA can do a PhD in Indian universities?
PhD has different processes in India and abroad. A guide or mentor has to support the subject of the student for the PhD. The Research area is a vast topic. The main areas are management accounting, financial accounting and auditing. In India, there are 318 state government universities and 54 central government universities. The other institutes providing higher education are the National Institutes of Technology, Indian institutes of science education and research, ICAI, ICMAI, ICSI, Indian institutes of management, Indian institutes of engineering science and technology, and national law schools, and all Indian institutes of medical sciences.
What are the areas in which a qualified CA can do a master’s degree in foreign universities?
After completing CA, the student has pathways in MS in finance, MS in investment banking, MIS, MSF, CPA, CFA, LLM courses, Law courses and MBA. GRE is essential for MS programs. GMAT is a must for MBA programs.
Comparison of CA and graduation:
• The questions that carry four marks on B.com are designed with 16 marks in CA. So, Chartered accountancy requires more application knowledge.
• CA intermediate and B.com are equivalent. So, CA intermediate covers all the subjects on B.com.
• B.com prepare an individual for the business environment. CA prepare an individual for investigation and audit.
Opportunities after completing CA:
Chartered accountants can work as independent practitioners, capital marketing services, consultancy services, financial analysts, banks, public limited companies, stockbroking firms, legal firms, patent firms, investment houses and portfolio management companies. The roles that emerged in recent days from the global market are statutory auditor, tax auditor, internal auditor, share valuer, forensic auditor, financial reporter, management consultant, cost accountant, liquidator, and corporate financing professional. “The liquidator” executes the liquidation process. “The internal auditor” handles the risk management system. Forensic auditors evaluate the evidence-based auditing system. Statutory auditors audit the financial books and statutory books of the company. These roles are highly demanded in recent times. The changing regulations and challenges with business are creating value for these professions.
Growth of a chartered accountant in India:
Chartered accountancy is a vast subject, and they help the core business operations. The following points elucidate the value of chartered accountants in India.
• Chartered accountants help with capital planning, tax planning, and budget planning.
• Capital planning takes the input of the long-term plans of the Company.
• Tax planning takes the input of the financial position of the Company.
• Chartered accountants help the accounting department to be in liaison with the social accounting standards.
• ISO (International Standards Organization) has a set of rules for social accounting.
• CSR activities are not separate activities, it is part of social business.
• The chartered accountants understand the statutory and voluntary aspects of CSR activities.
• After the introduction of GST, the tax advice helped to strengthen the indirect tax practice and business operations.
• Chartered accountants use the latest technology like analytics and big data to understand the risk associated with the financial processes.
• Cost and competition is the big challenge for businesses to survive. Chartered accountants help with planning the operations, reducing the cost and handling the competition with humility.
If students do B.com and CA simultaneously, the syllabus is easy to understand. Chartered accountancy provides the higher-order thinking that is required to pass B.com. Article ship training is for eight hours per day and forty hours per week. The students need to adjust the college timing as per the training. There are morning colleges that offer the timing before 11 AM. B.com examination is easy to clear along with CA. Article ship training is the thing that requires time planning. Article ship training is supposed to be the full-time option and not the part-time option. Chartered accountants without graduation are valued to offer master’s degrees, PhD degrees and professional courses. The students need to understand the opportunities available and plan the right professional course.