Chartered Accountancy Institutes

The profession of chartered accountancy is one the most secured, lucrative and never ending professions. The positive improvement in the worldwide globalization has brought a revolution in almost every industry and therefore, each and every industry is competing to expanding their quality and services. Many local and international companies dealing with various brands and products are starting up rapidly but there is one thing common in all of them i.e. necessity of a chartered accountant.

Better performance is always backed by better management and techniques. A chartered accountant basically maintains the basic measures of the company’s performance i.e. capital. Chartered accountancy is basically related to three major tasks including accounting, auditing and taxation. Chartered accountants are styled as complete business solution providers and are available to ensure regulatory requirements, capital structure and planning, mobilizing financial resources and installing internal accounting and budgetary controls.

Any sector, whether joint venture, foreign collaboration, merger, BPO, or any other thing, will definitely require a chartered accountant to maintain their annual capital structure and balance sheet.

There is no need to go abroad to find a better institute for accountancy course when you have it in your own country. India has quite a few good accounting institutions offering various professional courses related to accountancy. The Jagannath International Management School and International College of Financial Planning offer a PG Diploma course in Financial Management, while many accounting certificate courses can be availed from ICA- Certified Industrial Accountant. The VAG Info-tech Pvt. Ltd. offers a course in Accounts and Taxation. Apart from these institutes, St. Xavier’s College, Goenka College, and the Bangalore Management Academy are also a good choice.

Although, all these institutes are known for their quality services and education, the best among them and the worldwide recognized institute for professional accountancy course is the Institute of Chartered Accountants of India (ICAI). The accounting institutes in India are involved into a sharp competition of providing best course structure and to attract a great number of students. Candidates need to be self-motivated while selecting a chartered accountancy course and should be careful about all the aspects while choosing the right school.

Roadmap to Becoming a Chartered Accountant

CPT is an entry level exam for admission to the Chartered Accountancy course. A student can register for the test after passing 10th class by filling up the CPT registration form and submitting the requisite fees. CA being every commerce student’s aspiration is a tough course to enter. The CPT exam tests the student for aptitude and ability to do the course.

Registration begins after class 10th but student can sit for the exam after class 12th.The registration is valid for 3 years after which it has to be re validated. A student who has got his CPT registration 60 days prior to the first day of the month in which CPT examination is to be held I.e. on or before 1st April and 1st October, can appear in the CPT examination to be held in June and December respectively.

CPT syllabus consists of a single paper which has four sections. The paper carries total marks of 200. Section A is Fundamentals of Accounting which carries 60 marks, Section B is Mercantile Law which carries 40 marks, Section C is General Economics which carries 50 marks and Section D is Quantitative Aptitude which carries 50 marks.

The best methods for CPT preparation are self study, coaching and online tutorials. Self study is for students who are confident they can manage on their own and have a strong knowledge base. Coaching is for aspirants who like studying in groups and need systematic and guided preparation. The coaching will prepare you for the pattern of exam, the kind of questions asked, how to answer questions and time management. The faculty is experienced and well researched to guide you through. There is also the advantage of studying with other students who build a fairly competitive environment.

Online tutorials or courses come to help when you want to gain additional knowledge. Most online courses are step by step guides with easy to understand examples, animations and digital notes to help a student reinforce learning. The practice tests available online keep the student agile. These courses help you to evaluate your progress and give you the convenience to study at your own pace.

Whatever is the mode of study used, one thing to remember is you should also learn to manage your time to complete the two sessions within 2 hours each. Since there is negative marking, you should take care not to guess the answers. The required questions from each section should be answered. Last but not the least, confidence in yourself gives you an extra edge to compete.

Why a Chartered Accounting Firm Should Be an Integral Part of Your London Business

Chartered accountants have a long, trusted history of business in the U.K.

The current head accounting body of the England, the Institute of Chartered Accountants in England & Wales (ICAEW), has had a royal charter since its first inception in 1880. Accounting firms designated under this accreditation have to undergo some of the most rigorous analytical testing, screening, and work related experience anywhere in the world.

Before the forefront of the industrial revolution came into being, and before the outgrowth of multinational corporations, accountants were often seen as not much more than bookkeepers; those who recorded the financial transactions and balances of others.

In today’s world, the job of accounting in London, even for a small business, can often be a dramatically under appreciated task. The most technically proficient accountants of today not only have to deal with the increasing complexity of manufacturing and logistic accounting, but also transactions dealing with depreciation of assets, inventory valuation, and a Company’s insurance and legislation dues. This makes a chartered accounting firm one of the most important aspects of any business in the modern world.

What a Chartered Accounting firm can do for you

Accountants in London often cannot perform the multitude of tasks required by a successful modern business all by themselves. Many different highly specialized fields each require their own full time employee, such as legal and risk management, logistics and manufacturing, taxation and regulation, depreciation and cross-currency, payroll and benefits, and of course revenue and expenditures.

When you have this type of complexity within your business, the only viable solution is turning to a dedicated team of accountants.

Chartered accounting teams, just like many other areas of your business, will often be highly specialized. There will be a tax expert, a P&L expert, a payroll expert, and so on. Hiring them is often comparable to hiring a PR firm or marketing firm. The difference being that chartered accountants are some of the most heavily regulated and trained professionals in the industry.

The ICAEW and Association of Chartered Certified Accountants (ACCA), both based in London, routinely perform professional audits on their members and firms throughout the year. Additionally, if your firm is fully or partially public (receives taxpayer dollars) then accountants in London are often required to hold professional indemnity insurance, as well as being routinely audited.

Contributing directly to your bottom line

Going beyond just recording and presenting data, today’s professional chartered accounting firms are expected to be as integral a part of a business as any other. That means they are expected to continually suggest new ways of lowering costs, such as on shipping, import and export taxes, licensing and so on.

Professional accountants should be the first point of attack in such scenarios, such as discovering that a certain municipality just lowered their taxes on a key component of a new product, or that there are several new laws that could affect production prices or liability issues with manufacturing. It is the accounting firm’s job to navigate through all these different scenarios, and choose the most economically viable option for the company.

If you are thinking about upgrading to a fully chartered accounting firm in London, think of it like upgrading from a college intern marketing your products, to an award winning, fully functioning marketing team. The differences that occur will not only result in peace of mind for you and your finances, but also provide a steady foundation for the future of your business.