Career options for C.A dropouts

For the last few years,  the average pass rate of C.A exam has been 10%. 

Many commerce students, and even  science and arts students appear for this entrance and inspire be a C.A due to which the competition for  students appearing for C.A examination is highest comparing to any other competitive exams.

 We all know atleast one  students who  is/has attempted this exam for  more than 3 times consecutively but still can’t get through. In fact, the higher your number of attempts, the lower are your chances of getting placed in a large company.

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If you’ve been thinking of dropping the hope of becoming a CA, you don’t need to get disheartened. We’ve listed down some suggestions. They will help you choosing right career path for your future . You can do part time job or pursue some short time courses which will give you a chance to get a job and beside them, you can prepare for CA. If you think it’s became harder to pass the exam, then we have suggested some better courses to start your career as well.

ACCOUNTING TECHNICIAN COURSE

 On your way to becoming an Accountant, you may consider being an accounting assistant after taking some core classes in an accredited accounting program. It takes a certain kind of numbers person to enter the field of accounting, but it fills an essential need that every company has.

Eligibility-

Once a student clears IPCC, he is eligible to receive ACCOUNTING TECHNICIAN Certificate from the ICAI. 

A student who has passed CPT along with 10+2 examination thereto can register for Accounting Technician Course (ATC) either exclusively or with the option of  Intermediate (IPC) Course.

Examination, Course and Qualification-

·         A candidate who registers exclusively for Accounting Technician Course, has to undergo a study course of eight months, 35 hours Orientation Programme and 100 hours  ITT before appearing in Accounting Technician Examination (ATE).

·         It is to be noted that Group I of Intermediate (IPC) Course is equivalent to ATC.

 Certificate-

After passing Accounting Technician Examination (ATE), he/she will also be required to gain 1 year of work experience, as per the guidelines of the Council and on production of a certificate to this effect; he/she will be issued Accounting Technician Certificate.

TAX RETURN PREPARER:

 The Income Tax (IT) Department, invites the applicants for Tax Return Preparer for training the Graduates to become TRPs.

The Tax Return Preparer shall prepare and furnish the return of income to the Assessing Officer or agency as may be directed by the Resource Centre.

 Eligibility Criteria-

 Qualification-

Candidates should posses a bachelor’s degree from a recognized university in any following-

LLB, B.A in Economics, Statistics, mathematics, (B.A, B.sc) Commerce (Bcom, Management administration (BBA/BBM)

Age –

Candidate must be between 21-35 years.

Career Benefits

Tax knowledge will enable you to minimize your income tax liability and potentially save thousands of dollars over your lifetime. You will also save on tax preparation fees!

GST ACCOUNT ASSISTANT:

To cope up with the ongoing changes and bring greater awareness about the new tax proposals and policy, the Indirect Taxes Committee of the ICAI has decided to introduce the Virtual Certificate Course on GST.

A candidate can work independently on return filing, taxation, statutory compliances. The Indian service and job arena have vast opportunities for the generation rising youths, as the GST will be accommodating most of the working-class population and job seekers into a well-designed approval.

Eligibility-

Only the members of the ICAI are eligible to pursue this course

Members of ICAI means:"chartered accountant" who is a member of Institute of Chartered Accountants of India constituted under this Act 1949)

Fees for the Course-

• Rs. 8475 (plus 18% GST) for Delhi, Kolkata, Chennai, Mumbai, Bangalore, Hyderabad, Pune, Ahmedabad, Jaipur
• Rs. 6780 (plus 18% GST) for other cities

Certificate-

A certificate will be awarded to the members on successful completion of course and after passing the Assessment Test. Assessment Test of the Course would be organised half yearly for which fee of Rs. 1,000/-(plus GST) per participant be charged separately. 12 classes are compulsory out of 15 classes scheduled for the course for eligibility in the Assessment Test.

 As GST is a new law and lots of people are not much aware about this so it is the possibility that the people who know about GST will become in demand for companies so they will help for better tax administration for corporate sector.

CIMA

-Charted institute of Management Accounting (CIMA) is a professional degree which concentrates more towards management accounting.

-CIMA is the world’s largest and leading professional body of management accountants.

-Most accounting qualifications train people for private practice, working on external audit and tax issues.

 -CIMA prepares people for a career in business. It teaches skills for strategic advice, managing risk and making key decisions.

 Course duration -

In order to earn the CIMA certificate, you have to successfully clear 9 objective type papers and 3 case studies based examinations covering the three pillars of knowledge that have been specified in the CIMA Qualifications Framework

 A minimum of 3 to 4 years is a time that is required to complete the CIMA certificate.

If you are a graduate it will take you anywhere between 18 months to 2yr to complete the 3 levels .

It have four levels comprising of 16 papers

Certificate in Business accounting which has 4 subjects-

Operational level which has 3 subjects and a case study exam.

Management level - which has 3 subjects and a case study exam.

Strategic level - which has 3 subjects and a case study exam.

Qualification-

Graduates from a B.com, BBA or BBM, BSC finance get the entry level exempted and start from operational level.

Post graduate - like Pgdm finance , M. com, MBA get 11 paper exemption and can start from masters gateway route.

Job opportunities-

CIMA qualified professionals work in the field of Corporate Finance , Financial Reporting, Financial Analysis, Business Analysis, Project Finance, Treasury Management, Risk Management etc.

Apart from the above mentioned career their few other national and international certification courses in finance like CFA, FRM, ICWA, CS etc to learn more about it you read our blog on courses in finance.  

 All successful people aren’t CA and in fact all CAs are also not successful either. There are wide range of career options in finance available to succeed in your life.