The advancement of the world is a reason for the proliferation of new businesses and expanding old businesses. As and when these companies emerge, professionals are required to organise finance and manage the organisation and these two roles come respectively under Chartered Accounting, CA and Company Secretary, CS. Companies and businesses come in all sizes from startups to multinational conglomerates. Therefore these roles get challenging higher up the spectrum. CA and CS are completely different domains and deal with entirely different aspects, however, both of them are highly reputed roles in a business and present promising growth. With that being said, what exactly is a CS or a CA? What are the requirements between CA vs CS? The blog below answers these questions and more to help get more clarity on the two branches.
What Is CA?
CA or Charted Accountant is someone who is managing the auditing process of a company which broken down is the process of verification, examination, and investigation company to ensure it is abiding by regulations. Some of the key responsibilities of Chartered Accountants include preparing financial statements, analysing financial data, providing tax advice and planning, and performing audits to ensure that financial statements are accurate and compliant with accounting standards.
The process of becoming a Chartered Accountant involves completing a rigorous programme of study, usually at a university or college, and then completing a period of supervised practical experience. In many countries, including India, Canada, and the UK, Chartered Accountants are required to pass a series of professional exams before being granted their designation. Chartered Accountants may work in a variety of industries, including public accounting firms, financial institutions, government agencies, and private corporations. Between CA vs CS, the former warrants good financial health of an organization.
What Is CS?
A CS or Company Secretary is a professional who is responsible for ensuring that their organisation complies with legal and regulatory requirements, and may provide advice on governance and compliance issues. Company Secretaries are experts in corporate laws, corporate governance, and related fields. Company Secretaries may work in a variety of industries, including public and private corporations, government agencies, and non-profit organizations.
A Company Secretary’s responsibilities might differ with the company but the crux of it is to maintain compliance with legal and regulatory requirements. Between CA vs CS, the latter is usually in a top position as they have direct collaboration and communication with company heads and CEOs. Apart from this they also represent a middleman between the organisation and the local authorities.
Eligibility Criteria Between CA Vs CS
The eligibility criteria for both these branches vary drastically as these branches contribute to different aspects of the functioning of an organization.
Eligibility Criteria for CA:
- The candidate needs to have completed high school, however, having a Bachelor’s degree in commerce or related fields is favoured. (Minimum of 50% grades)
- The candidate needs to have passed the CA entrance exam conducted by the Institute of Chartered Accountants. There usually will be different levels of examination for higher ranks.
- A set of years of practical training is essential which is done under a licensed chartered accountant. This will help with not only admission but the overall experience gained.
- The final membership is given after completing all the exams and attaining the required years of training after which the candidate will acquire the license to practise CA.
Eligibility Criteria for CS:
- The candidates need to have a high school degree in science or commerce in order to apply for the CS foundation programme.
- If the applicant is trying to pursue CS after graduation then they are exempt from the first level i.e CS foundation.
- The candidates need to have passed all the levels of the CS examination, from the foundation level to the professional level.
- Some months of training are required under a training professional which is usually done after the professional programme completion.
Course Duration: CA Vs CS
Chartered Accounting generally takes around 4-5 years which entirely depends on the individual’s performance and examination passing ability. The CA course is divided into three levels, foundation, intermediate and final course. Each level is important and has to be cleared if a license has to be acquired. The final course is of 3 years which includes 2.5 years of professional training. The duration mentioned is if the student manages to clear all the exams in a single attempt.
Between CA vs CS, the system to acquire the final license is almost the same for the two. Even with CS, the candidate has three levels, foundation, executive and professional. After completing or during the professional level programme the candidate has to also undertake professional training for some months. In total it takes around 3-4 years to complete the CS course in a single attempt.
Career Paths And Job Profiles
A Chartered Accountant is a highly respected and in-demand role. Due to the complexity of the course and exams, the number of applicants clearing the course in a single attempt is very few. However, the ones who do clear the course can expect a well-rewarded and challenging career path. Since a CA’s main role is auditing and handling financial and accounting tasks they are valuable in various industries like Stock Broking Firms, Auditing & Assurance Sectors, Educational Sectors, Mergers & Acquisitions Sectors, Information Technology, Manufacturing Companies, etc. Top companies that hire CA’s are Deloitte, KPMG, Ernst & Young (EY), PriceWaterhouseCoopers (PWC), Grant Thornton International, etc.
Similarly, between CA vs CS, the latter has been growing for many years and will continue to do so due to the constant emergence of businesses and the need for management at a very top level. Some of the roles that a CS graduate can be a part of are, Operations Manager, Legal Advisor, Investment Banker, Stock Broker, Chief Financial officer, etc. All major companies have a need for company secretaries since legal and regulatory compliance is an essential entity.
Curriculum Between CA Vs CS
The curriculum and subjects for CA are divided into three levels.
Foundation course:
- Principles and Practice of Accounting
- Business Laws and Business Correspondence and Reporting
- Business Mathematics and Logical Reasoning & Statistics
- Business Economics and Business and Commercial Knowledge
Intermediate course:
- Group I: Accounting, Corporate Laws and Other Laws, Cost and Management Accounting, Taxation (Income Tax and GST)
- Group II: Advanced Accounting, Auditing and Assurance, Enterprise Information Systems & Strategic Management, Financial Management & Economics for Finance
Final course:
- Group I: Financial Reporting, Strategic Financial Management, Advanced Auditing and Professional Ethics, Corporate and Economic Laws
- Group II: Strategic Cost Management and Performance Evaluation, Elective Paper, Direct Tax Laws and International Taxation, Indirect Tax Laws
Between CA vs CS, the curriculum for CS is also divided as per its three levels.
Foundation programme:
- Business Environment and Law
- Business Management, Ethics and Entrepreneurship
- Business Economics
- Fundamentals of Accounting and Auditing
Executive programme:
- Module I: Company Law, Securities Laws and Capital Markets, Economic and Commercial Laws, Tax Laws and Practice
- Module II: Company Accounts and Auditing Practices, Industrial, Labour and General Laws, Corporate and Management Accounting, Securities Laws and Compliances
Professional programme:
- Module I: Governance, Risk Management, Compliances and Ethics, Advanced Tax Laws, Drafting, Pleadings and Appearances
- Module II: Secretarial Audit, Compliance Management and Due Diligence, Corporate Restructuring, Insolvency, Liquidation and Winding-up, Resolution of Corporate Disputes, Non-Compliances and Remedies.
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I have done Bachelor’s in Culinary Arts from India and completed my graduation in the year 2022 .I am 22 years old. After graduation, I have done 1 year paid internship from USA .Now, I would like to take occupational experience and learn culinary skills and also do masters in Culinary arts.How can I find the college n best course / country where I can persue studying further