The accounting professionals are getting more opportunities to explore the profession now-a-days. If we dig into the causes of the increasing demand for accounting professionals, the significant reason is the crucial & critical role they play in financial decision making, either directly or indirectly.
No business can survive without proper maintenance of records & books of accounts of all the transactions in the entity either material or immaterial. Hence, maintaining the above books is necessary for the business to flourish. Generally, the design & maintenance of such books is done by management. The supervision & guidance of the same is done by the accounting professionals.
The scope of the professionals is not only limited to the financial information, they also take active part in financial management, strategic management, building strong internal controls etc. The most important field of accounting professional is taxation i.e giving tax saving plans, advising about the most suitable investment scheme in compliance with the provisions of law and simultaneously saving money and so on.
An accounting professional just doesn’t confine to book keeping of his clients or employment, the professional can also go to the court of law and can represent his aggrieved client in front of the honorable court on matters regarding taxation of all kinds, matters relating to company law, labor law, industrial law and so on, on par with an advocate who has a law degree.
There are 3 types of professionals in accounting profession:-
1. Chartered accountant (CA)
2. Company secretary (CS)
3. Cost and works accountant (CWA)
So, CA, CS, CWA are multi-dimensional professions to have fun, thrill, money & status simultaneously.
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