CA Full Form

Chartered Accountant or CA, in commerce, is a title given to the members of the professional accounting institution or association. The Chartered Accountants of India are regulated by the Institute of Chartered Accountants of India or ICAI. CA's are hired by all types of organizations such as public sector companies, private firms, or government bodies. Currently, in India, there are more than 2,70,000 CAs operating.

Eligibility Criteria

All the candidates, with intentions of applying for CA, generally enrol with ICAI for the CPC course. Only the registered candidates qualify for the CA examination. These are the eligibility requirements for giving the first level examination of CA.

• The applicant must have completed 10+2 education in any stream (including Science, Maths, and Commerce).
• A minimum of 60% aggregate in the 10+2 level must be obtained by the applicant to be eligible for this course.
• The candidates must obtain a minimum of 60% marks in graduation for direct entry to the intermediate level.
• But, the minimum mark required is 55% if the candidate is a Commerce graduate.

Work of a CA

The work of the CA is in the field of business and finance. On financial matters, he provides professional advice to the company. These are some of the important functions performed by a CA in a company:

• Internal Audit: It is a dynamic profession helping institutions and organizations to achieve their objectives. The main concern is of improving and evaluating the effectiveness of risk management, control and governance processes in an organization.
• Statutory Audit under Companies Act: Its main purpose is to determine whether an organization is providing a fair and accurate representation of its financial position by examining information such as bookkeeping records, bank balances, and financial transactions.
• Tax Audit: This is the evaluation of the organization's tax return by the IRS to verify that your income and deductions are accurate. It is when the IRS decides to examine your tax return a little more closely and verify that your income and deductions are accurate, that the Tax Audit becomes important.
• Tax Planning: Tax planning is done to plan one’s finances in the most optimized manner by the analysis of one’s financial position from a tax efficiency point of view. This enables the taxpayer to make the best use of various tax exemptions, deductions and benefits to reduce tax exemptions over a financial year.
• Cost Planning: The failure of projects to proceed due to over budget is a major problem we are seeing within the construction industry. Understandably, both the architect and the contractor as well as the client are frustrated by this.