Education and Career Forum

which banking course i should do after clearing c.a final exams

Course: Chartered Accountancy (CA)
Eligibility: Appearing for Class 12 exam
Council: Institute of Chartered Accountants of India (ICAI)
Minimum duration: 4-5 years
Exams: May, June, November and December
Fees: Rs. 45,000- 50,000
Website: www.icai.org
Our advice: Be ready for a rigorous course. Take coaching only when necessary, since it is expensive
IF THE words “Chartered Accountant” conjure up an image of a bespectacled person rummaging through company balance sheets, then brace yourself for a professional who is fast becoming an indispensable asset to companies. The placement figures according to ICAI this year are proof enough.

The first phase of placements at the institute’s five metro campuses (out of 15) in the first week of March saw 320 candidates being picked up by companies on Day 1. The big four consulting and accounting firms namely - E&Y, PWC, KPMG and Deloitte - hired students directly from training institutes in smaller cities such as Jaipur, Indore, Chandigarh and Ahmedabad, a move that was partly motivated by cost factors, too. The number of CAs on the rolls of ICAI, is currently a whopping 660,000 (up from 3.5 lakhs in 2008), showing that the course is much in demand, owing to its increasing relevance to the current business environment.

Beyond accountancy
CAs, today, have definitely carved a niche of their own, as compared to those with an MBA. While an accountant does the manual job of preparing the data and keying it into the computer to prepare a financial statement, it is a CA who interprets the same. MBAs on the other hand are hired in sales and marketing to deal with clients wherein they utilise their communication skills, optimally. Abhinav Suri who has worked with the corporate banking division of ICICI Bank, Delhi, says “Companies rely on a CA’s opinion; he or she is seen as a key strategist when it comes to the company’s finances.”

Image: Madhu Kapparath/ Outlook Group

Today, CAs are recognised as professionals with a robust knowledge of finance who have the ability to take decisions that can impact the future of the company. This is even more relevant in a dynamic global environment with an increasing need to manage risk, given the fact that many companies struggled with the recession last year. “As opposed to finance professionals who take care of the financial requirements of the company, the CA looks for the future implications and cost involved in it,” says Sharad Maheshwari, a partner with a CA firm in Indore.

With finance being the backbone of any organisation, a CA with an in depth knowledge of costing, funding, financing, accounting, structuring and compliance and also an understanding of the taxation regime and accounting methods, is a key person to count upon.
ICAI Placement (2010)
No of registered candidates: 2,931
Candidates offered jobs: 1,411
Candidates who accepted: 1170
Top hiring sectors
Banking
Financial Services
Information Technology – Software
Mining
Oil & Gas Refining
Chartered Accountancy Firms
Iron & Steel
Heavy Engineering
Engineering Procurement and Construction
Top recruiters
ICICI Bank
Genpact
Infosys Technologies Limited
SBI
Deloitte
Coal India Ltd
Remuneration
Company CTC (Rs in lakhs per annum)
Axis Bank 10.82
ITC Limited 10.61
BPCL 9.5
A rigorous course
Thought it involves self-study, the CA programme is intensive and clearing all three levels, needs persistence. Students can register after Class 10 but are eligible to give the Common Proficiency Test (CPT) only after they appear for their Class 12 exams. This is followed by Intergrated Professional Certificate Course (IPCC) followed by the Final Course. Registration for CPT is open throughout the year and exams are conducted in June and December. However, exams for IPCC and Final are conduced in May and November.

With a need felt to equip the CA with better communication skills, all those who pass the Final exam now have to complete a 15-day course in general management and communication skills. The three-year articleship (on-the-job apprenticeship) after completing IPCC is what distinguishes a CA from an MBA or an accountant who might learn the subjects but may lack the hands-on experience and practical application of concepts for daily situations.