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CA or CS? What is the best option for you?

CA or CS? What is the best option for you?

Last updated on December 3rd, 2019 at 05:15 am

CA and CS are two of the most desired career choices for commerce students. However, oftentimes, there is confusion between the two. If you are a commerce student, uncertain between these two fancy professional terms, then you are at the right place. Read further to know which one would be the best option for you.
As a CA, accounting would play a major role in your work. You need to have a very strong foundation in accounting to excel in this field. This is what most of your work depends on. However, with proper dedication and practice, you can acquire great accounting skills and master them.
A Company Secretary is an in-house legal adviser. For this, you need to be an expert in corporate laws, along with a vast knowledge regarding the governing of a company. This job requires great communication and people skills, which can be acquired through practice.

What does a Chartered Accountant do?

Chartered Accountants are commerce and accounting experts whose field of work includes topics such as finance, audit, taxation and investments. They possess excellent accounting skills that help the company manage its risks and losses in order to maximize profits. Along with this, auditing is an important function of a CA. It deals with the reviewing of financial statements and checking their accuracy.Taxation is another major responsibility of a CA. Preparing returns for tax purposes, assess taxes and having a general knowledge on taxes is a must for a CA.

What does a Company Secretary do?

Company Secretaries are the legal advisors of a company that mainly act as a consultant on matters of administration, finance, accounting and management. Along with these, a CS oversees policies and maintains statutory books. Having a vast knowledge of the corporate laws and administration, a CS provides advice on business and corporate laws. They look after matters related to property and insurance as well, in addition to providing assistance in planning.

Scope for Chartered Accountancy

A CA has the freedom to choose to work independently or be a part of a firm, both giving excellent opportunities.

Here are some of the career opportunities for Chartered Accountants –

1. Financial Market Services

  • Finance Companies
  • Mutual Funds
  • Portfolio Management Companies
  • Investment Houses

2. Legal Sector

  • Legal Firms
  • Patent Firms
  • Attorneys
  • Copyright Registers

3. Banking Sector

  • Commercial
  • Agricultural

4. Auditing Firms

  • Legal Firms
  • Patent Firms

Scope for Company Secretary

A Company Secretary is of high demand in today’s corporate world. There are immense opportunities and scope for Company Secretaries in the private sector, public sector, banks, stock exchange, law firms, and other financial institutions.

1. Financial Market Services

  • Taxation Services
  • Securities Compliance and Certification Services
  • International Trade & WTO Services
  • Finance & Accounting Services

2. Management Services

  • General/ Strategic Management
  • Corporate Communication and Public Relations
  • Human Resources Management
  • Information Technology

3. Corporate Governance Services

  • Corporate Governance Services
  • Corporate Secretarial Services
  • Compliance Audit and Certification Services

4. Corporate Laws Services

  • Corporate Laws Advisory Services
  • Representation Services
  • Arbitration & Conciliation Services

What are the average salaries for CA and CS?

The average salary of an established Chartered Accountant in India is 7 Lakhs and the average salary for a Company Secretary is 6 Lakhs. However, this is just a rough estimate, because the actual salary for CA and CS depends upon individual skills and abilities.

How long does it take to complete either of the courses?

The exact time required to complete either CA or CS depends hugely on when you decide to start the course and your education level when you do so. Though CA and CS both have 3 levels of examination, the time required to clear both of them is very different. On an average, it would take about 5 years to complete CA, whereas CS can be completed in about 2-3 years.
Since we have now established, CA and CS are two completely different career paths with a different set of roles and responsibilities. The right way to compare the two would be based on your skills, abilities and interests. No-one has a better understanding of those than you yourself. So choose wisely!

One Comment

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