Career and Job Opportunities in Government Sector for CAs
PrintListen to this Article
Career and Job Opportunities in Government Sector for CAs
With the ever change phase of the corporate body in this dynamic corporate world, the need for professionals seems to be increasing every second. Over the years it has been witnessed that every organization whether big or small, whether domestic or international needs one professionals who has an overall knowledge about the functioning of the firm along with knowledge in accounting and audit. Thus, the world is now demanding a corporate professional who can cater the every growing needs of an organization. The name of such a professional being a Chartered Accountant. There is a separate institute named as The Institute of Chartered Accountants of India (ICAI).
A Chartered Accountant is a person who has specialized knowledge and skills in the field of accountancy, management and audit; something around which a corporate body revolves around and in such regards the need has been witnessed. An individual can become a Chartered Accountant by pursuing the course of Chartered Accountant which can be pursued after completion of 12th grade. The process starts with the foundation programme which tests the basic knowledge of a candidate in respect of English, statistics, economics and accountancy. After the foundation level the candidate is required to work under a practicing Chartered Accountant and pursue the course of CA inter which enhances the knowledge of the candidate in the field of accountancy, taxation and law along with costing. After completion of such a level comes the level of final which provides the candidate with expert knowledge in fields like accountancy, law, costing, audit and other subjects. Once a candidate has successfully completed the final level, he can start as a practicing Chartered Accountant.
The role of chartered accountant is very crucial, hence, the demand for such is also very high and especially in the government sectors as they take the best professional for better functioning. A Chartered Accountant can perform others works too which includes work of inspection of account, representing the organization in cases, appealing to various tribunal and courts on behalf of the organization. Since India is a developing country, the need for Chartered Accountants needs to be fulfilled with time and not only that, but the pay for such service is also very high which satisfies our personal goals. There are also other countries such as Australia who have recognized the need for Chartered Accountants who are considered to be a separate breed of professionals and can in every aspect cater the needs of the organization.
Chartered Accountants can also become head of the finance department or even officials who can carry on independent audit for various companies. There are many opportunities that are available to the professionals who pursue Chartered Accountancy as it gives them an overall knowledge which no other professional course can offer. Added to it, commencing such high professionalism can be done after higher secondary makes it easier for the candidates in making up their mind while selecting their career and its prospects. Chartered accountants can redeem much services to the organization and have greater opportunities than in any other case.
Category : Income Tax | Comments : 0 | Hits : 2289
Income Tax Alert - Here Are 5 High-Value Transactions That May Come Under Scrutiny. Large Cash Deposits: Any cash deposit exceeding Rs 10 lakh in a financial year across savings accounts draws the attention of the income tax department. Even if deposits are spread across multiple accounts, the cumulative amount beyond the threshold triggers scrutiny. Fixed Deposits: Surpassing the Rs 10-lakh limit in fixed deposits within a financial year prompts inquiries regarding the source of f...
Delhi Court Sentences Woman to 6 months Jail for not filing the return of income (ITR) discussed. Accordingly, the accused is held guilty of not filing the return of income for the assessment year 2014-15 under Section 276CC of The Act. Accordingly, the accused is convicted for an offence punishable under Section 276CC of the Act," the court said in the judgement. "The convict is awarded a sentence of simple imprisonment for six months with a fine of Rs 5,000 and in default to unde...
Corporates, Non-corporates or government department all are procuring major part of services or goods from the MSMEs. There are provision under the Micro, Small, and Medium Enterprises Development (MSMED) Act, to ensure that businesses make payments to MSMEs within a specified time frame, and failure to which can impact the deduction claims for such payments. To facilitate timely payments to micro, small, and medium enterprises (MSMEs) and address the challenges faced by these businesses in rec...
In the Income tax act, the words “Turnover”, “Gross receipts” and Sales are used at many places. In the common business parlance, the terms sales and turnover are used interchangeably. However, as per Income Tax law, guidelines are available on the question of what constitutes turnover. Understanding the concepts of these words is necessary for the purpose of the tax audit. An audit is mandatory for corporate assessees, irrespective of the amount of turnover. In ...
Very Important Income Tax Update regarding Micro and Small Enterprises Section 43B-any amount remains unpaid on year end to creditors, being micro/small entity, beyond 45 days or less, as agreed or 15 days if no agmt, shall be added to taxable Income resulting in huge additional tax liability. Keeping such creditors unpaid is risky. If payment for purchases made from *Micro and Small units* remains outstanding on 31st March, there may be huge tax liability. Therefore...
Comments