5 Major Challenges of a CA Professional

Chartered Accountant is a job profile which is lucrative owing to the money as well as professional growth avenues it opens. With the ease of doing business increasing steadily in the recent past, the number of start-ups and SMBs is gradually increasing which in turn has increased the demand for CA professionals around the globe. Though the CAs are high in demand and every year millions of students are graduating and enrolling in CA courses in Kerala, there are various challenges that should be understood well by all the aspirants to have a better understanding of their careers and lives as the CA Professionals. The following post will be highlighting the major challenges encountered by the CA Professionals and the best CA courses in Kerala that will help you prepare for these challenges ahead.

CA Professionals – Challenges that lie ahead:

1.Constantly updated top-notch knowledge base:

Though there are thousands of CAs that are absorbed every year, before you get persuaded to enroll in the classes for CA coaching in Kochi, it is important to understand that it is of extreme importance to stay informed of all the changes, introductions and amendments of Tax Reforms and other such regulations introduced by the Government from time to time. You just can’t rely on your sources and internet for instantaneous learning. Proper learning and knowledge acquiring are good, but regular updates and consistent improvement is what keeps your career going up always.

2.Training Matters:

One of the most determining challenges faced by the CAs is the difference between the level of training and real-world work scenario. It is of utmost importance that the CA courses in Kerala that you took assisted you in finding the most relevant and best source for the training as per your interests and mettle. If you idle away the time, then you can forget about opening your own practice one day because you will be ending up with zero professional knowledge of accounting and financial consulting in the real world.

3.Growth and Sector Specialization:

CA professionals have to make an extra effort and keep their working arena diverse and high-cadre to ensure that career grows and they don’t get lured into the shiny web of sector specialization. The sector-specialization can harm your growth and limit your professional career prospects. The reputed and the best institutes for CA Coaching in Kochi offer counselors and guides to help you steer your career in the rightmost direction and can also help you in finding new clients with proper training and mindset development.

4.Sensitive Exposure:

The CAs are always in the risk zone because they have access to some of the most sensitive and highly-confidential data and transactions of a company. In fact, if you are working for a big corporation or MNCs at a respected designation, then you will be having all the dirt on them in your hands and at your mercy. In such situations, it is of extreme consequence to guard the information and don’t let the beans spill as this might lead to huge fiascos and professional setbacks.

5.Degrees, Courses, and Certifications:(h2)

Earlier, CA used to be the ‘IT’ thing of the financial and accounting world. But, the times and requirements have changed now and people are requiring talent armed with a thorough knowledge of modern day technology; understanding of vast areas of accounting and of course, a backing of some gold standard certification. There are various names and brands that make your CV look good such as CMA, Company Secretary, and ACCA etc that not only open the avenues of jobs abroad but also help you in keeping your skills diversified and your pay cheques FAT!!

However, it goes without saying that these degrees and certifications will demand serious inputs in terms of time, money and efforts. So, be prepared!!

Some other challenges that are waiting for you after the course completion are:

  • Personal Issues:
    The CAs have to work overtime; they might have to neglect their health and rely on the caffeine and drinks for kick-starting their nerves; they generally tend to opt for high-paying immoral clients for making quick money and might also lose their independence all the while trying to do shady finance management and consulting.
  • Constant Pressure to excel and stay ahead in the game
  • Exploring the career abroad or keep sailing in your mainland
  • Finding out the best CA courses in Kerala that can help you ace your exams and careers side by side.

How to deal with these challenges??

Having read the pain-points, let us understand how to deal with them. Choosing a right CA Coaching in Kochi will obviously help. Proper professional manner of preparation and training; expert guidance from the counselors and teachers; an environment that aids in learning; an institute with connections in various top-tier CA absorption channels so as to guarantee placements and higher study guidance – all these calls for a career that shines and a professional that excels.

The Logic School of Management is the best institute that provides all kinds of coaching and CA Final Coaching Classes in Ernakulam. To know more, please visit www.logiccpacma.com.

Skills That Every Accounting firm is Looking for in A Chartered Accountant

It’s no secret that CA certifications have some of the toughest qualifying examinations in the world. But we also know that it’s all well worth the effort. Qualifying as an ACCA-certified chartered accountant puts you in a select group of highly respected and sought-after professionals with unlimited career opportunities across industry verticals.

While this still holds true, with increasing digitization, transforming financial environments, and evolving workplace mechanics, how enterprises and accounting firms perceive the role of chartered accountants in their teams and the skills they require from their ACCAs are changing. This means that the knowledge and skills you gain during your exam preparation and from your CA coaching centre, while advantageous, might no longer be enough.

We explore a few skills that will not only help you function well in the modern workplace, but also help you build a successful and fulfilling career as a chartered accountant.

  • Communication Skills

There is often a misconception among people that accountants need only be bothered about numbers. But the ability to communicate effectively with clients and offer sound financial information and advice with absolute clarity is a very important skill for all CA professionals. In fact, effective communication skills are an unparalleled advantage not just across industries but in all areas of your professional and personal life.

  • Professional Skills

The term “professional skills” combines a whole array of business and social skills that will help you succeed in your profession and contribute positively to the culture and development of the enterprise. These include everything from your ability to collaborate across teams to building long term relationships both within and outside the company. No matter where you stand in its structure, how you engage with your work and stakeholders will affect your organization as a whole.

  • Analytical Skills

Analytical skills are what set great CAs apart from the rest. In the age of big data, the ability to analyse and interpret this large volume of information to derive valuable growth-oriented insights is very important for any financial professional. Analytical skills will also help professionals develop innovative and strategic solutions for pressing issues. Of course, it is important to note that these skills can only be built upon a foundation of sound financial knowledge and training in accountancy.

  • Continuous Learning

The training that starts at your CA coaching centre should continue throughout your career. In today’s fast transforming financial ecosystem, it is critically important for a financial professional to continuously evolve and stay updated with the latest in what’s going on in the global landscape. This ability to develop yourself and your knowledge base will not only save you from becoming obsolete, but it will also help you maintain a level of fascination and interest in your job over the long term.

Every CA aspirant should make attempts to develop these skills and habits to ensure that they present themselves as a lucrative employee for international enterprises. It will not only give you a competitive advantage among your peers, but will also help you serve your clients best. The right CA coaching centre will be able to guide you towards understanding these skills and develop them, even as you are training and studying for your exams.

 

How to Choose the Best Institute for CA IPCC Coaching

You have cleared CPT / FOUNDAITON, the first hurdle in the race towards becoming a Chartered Accountant and the next step is passing the CA IPCC / INTERMEDIATE exam. It is better to enroll at a CA coaching institute rather than go the self-study route. The best CA coaching institutes in Kerala provide the right environment for study with professional tutors, updated study material and a proper schedule for study, recapitulation and revision. You will also be in the company of other students preparing to face the exam and this will help you greatly in overcoming your fears.

Follow our step-by-step guide to determine the best CA coaching center to choose for CA INTERMEDIATE coaching.

Online search

Today, everyone relies on the internet to search for what they need. A search for the best CA coaching institutes in Kerala will yield you a list of veritable coaching classes that are available near you. Narrow down your list to 5 institutes before you make final decision.

Success rate

The next step would be to check the results of the previous batches. Large and reputed institutes always maintain a year-wise record of the results of their students. You can also verify the pass percentage and track record of successful candidates. You can also talk to former students of the institute to get the real picture of what the institute has to offer.

Faculty

The teaching faculty is the backbone of any coaching institute. The instructors should not just have the appropriate educational qualifications but should also possess experience in training and coaching students for CA.

Study material

Every CA coaching institutes in Kerala has their own set of study materials that they provide to their students. It is important that you peruse through these books to judge the quality of the material. Confirm for yourself if the study material is updated on a regular basis. You should also check if it has question bank with suggested answers.

Teaching aids and facilities

Find out for yourself about all the facilities and teaching aids that the institute provides. Check out the libraries and browse through their books, journals and magazines. You can also ask if they provide free Wi-Fi within the campus. Even though these aids and facilities are not a prerequisite for a good CA coaching institute, they do help in preparing you for the CA IPCC / INTERMEDIATE examination.

Course fees

It is also essential that you compare the cost of the courses offered by various institutes. High fees do not guarantee you an excellent course and be wary of institutes which offer hefty discounts on their fees. Always do a double check before you narrow down your list.  Remember that your decision is crucial and you will not be able to discontinue your course once you enroll at a CA Coaching Institute for your CA IPCC / INTERMEDIATE preparation.

Distance from your home

It is advisable to enroll at an institute which is not too far away from home to avoid long commutes to and from your home to the CA coaching institute. You should not spend more than 1 hour as travel time or you lose out on precious study time.

Beware of CA coaching institutes which run franchisee branches at various locations in the State. You should always insist on seeing the results of the institute you wish to join as some data might be misleading. The best CA institutes in Kerala also provide training on personality development to build up your confidence levels and also teach how to manage stress levels. They will also put you through mock tests and interviews to prepare you for what lies ahead.

It is crucial that you do the groundwork to find out all the details before you decide on the CA institute for IPCC coaching.