With the increasing scope in the field of Finance and accounts the scope of CA has been increasing.  ICAI – The Institute of Chartered Accountants of India is the licensing body who are authorized to conduct this course. The Chartered accountant is a person who is involved in the job of auditing, accounting, taxation etc. A person will be accepted as CA only if he/she has passed the final examination conducted by the ICAI. Even in a small organization CAs  are important.

This is a 3 year course which includes the training period also. The course includes 3 sections mainly-

• Competency Professional Test (CPT),
• Professional Competency Examination (PCE)
• Final exam

In order to join this course the candidate should have completed the 12th class. They can apply in for the CPT. The study period is 10 months. For going in to the second stage which is PCE, the candidates should have passed the first stage- CPT.  The final exam along with the practical training can be attended if the candidate has successfully passed the second stage of the exam. A registration in the name of Articled Clerk should also be done for writing the exam. There are various opportunities in terms of jobs for CA in areas such as –

• Auditing
• Taxation and accounting
• Finance and accounts executive
• Investment banking and fund management
• Financial and business process outsourcing

Company Secretary (CS)

The job of a Company Secretary is a prestigious one. A CS serves as a connection between the company and the board of Directors. The main function in this job involves checking whether the company policies are being strictly adhered to and revised also. As like the CA course, this also involves three stages in this course.

• Foundation Course – The candidate needs to be minimum a 12th class pass in order to opt for this course. The duration of this course is about 8 months.
• Intermediate Course – The candidate should have passed the foundation course of ICSI to join the second level. The candidate can also be a graduate /post graduate in any discipline. The course duration is 9 months.
• Final Course – The candidate will be eligible to enter in to the final level if he/she passes the 12th class. After the successful completion of this course, they have to undergo a practical training which enables them to become an associate member of ICSI.

The job prospects for this course are immense. The candidates can join MNCs as Company Secretaries They can apply to reputed government and law departments too.

Key Difference between CA and CS

CA deals with the accounting, taxation, auditing etc. The person who has joined CA should have thorough knowledge in these aspects relating to the Companies act, costing and financial management where as CS should have details about the Corporate laws and also working knowledge about the other laws. The CA’s only conduct statutory audits etc in India. The Institute of Chartered Accountants of India governs the CA where as CS exam is carried by the Institute of Company Secretaries in India.

Which course is better?

The scope in terms of CA or CS in terms of job may be different .CA may be more involved in taxation, financial management, project consultancy, auditing etc. Whereas CS is related to mainly corporate affairs dealing with statutory record maintenance, dealing with the legal matters of a company etc. Both courses are unique and significant in their own respects. The decision whether to take CA or CS depends mainly on the individual interests. A person should always think whether he/she would be able to deliver his best in a particular course. Hence the basic motive while selecting a course should always rely on a point whether the best potential can be delivered.