Chartered Accountant
by Jason Gluckman
A chartered accountant is a person who not only gives advice to the management on varied subjects including finance, the company's performance, research and analysis, and on new business opportunities, he or she also maintains records of financial transactions and carries out company audits.
The term "chartered accountant" originated from the British royal charter of the nineteenth century. It is one of the brands that grew widely in the British Commonwealth. Legally, only qualified chartered accountants are authorized to audit and certify a company's books of accounts. In order to become a successful CA, one must have good a numerical ability and an analytical mind that can interpret facts and figures correctly, as well as a logical and methodical approach. A chartered accountant is also required to have a basic understanding of the market to predict trends.
Most chartered accountants generally work in fields such as financial accounting, auditing, cost accounting, tax management, and consultancy. Auditing, which is one of the most important tasks performed by a CA, is the methodical examination and review of the accounts and other documents of a business. Chartered accountants also perform cost-accounting functions like working out the cost of a particular operation or job. A CA has to take many things into account, such as relevant overheads. It is quite a complex task and is usually undertaken for monitoring expenditure, minimizing expenses, and forecasting future needs.
Some chartered accountants also specialize in tax management. They help in legally ensuring a minimum incidence of tax. Chartered accounts often indulge in providing consultancy services in the fields related to finance and accounts. They also provide advice on subjects like corporate law advice, project planning, finance, investigations relating to share valuation for takeovers, amalgamation, business advice, and secretarial work.
Businesses have undergone a vast change from yesteryear. In this day and age, one needs someone to rely on for logical business advice and CAs are the only ones to show a clear path through the labyrinth of the modern business world.
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