Thanks for your question. Being a science student, I struggled with the IPCC curriculum. Become a CA: Step-by-step guide . Licensing and certification are not requirements to work as an accountant, but many employers prefer to hire accountants with credentials. With that in mind, I gave it my all. Frankly, it doesn’t work like a lottery (i.e. The Finance Story – is a niche digital media platform for finance professionals and finance students. After qualifying CA INTER, I’ll have a back up plan. Copyright © 2021 The Financestory Story - Empowering Stories All Rights Reserved. Somewhere inside of me, I knew that I would not want to work as an engineer but I still continued my studies and tried making the most of all the opportunities that came my way. I got to know about Actuary as a profession a few years after I had graduated as an Engineer. Do you intend pursuing CA or CPA after your engineering? To clarify, I got an offer from the IT firm when I had finished my 3rd year of engineering. (The Institute of Chartered Accountants of India) and a. But he was very happy when I went in for engineering and encouraged me greatly even though it was a totally different profession from his expectation! Now it was time for CA Final (CA Final has 2 groups – Group 1 and Group 2). One can start pursuing the course soon after grade 12. Engineer to Actuary…is it a smart choice? The AAT qualification is the minimum qualification level for any accountant, and to become a chartered accountant you need to complete an ACCA, ACA, or CIMA qualification.. What is great for career changers is that you can … But I think being from a different background does help sometimes as you bring something new to the table. 1 Register for CPT. In addition to having a knack for numbers and figures, an accountant must attain technical skills and the ability to synthesize and analyze data. We help our community of Chartered Accountants, CPAs, Company Secretaries, Cost Accountants and commerce grads find useful news, information and resources on technology, funding, money, career and investment. On taking exams from both IAI and IFoA, I believe what helped me most was the shot-gun approach. Yes. Thanks. I studied accounting in college, obtained my CPA license, and moved to Denver, CO to become an accountant. If I had fought my case, I would have got credit for my project but would have lost a good amount of time. Required fields are marked *. inputs on costing, as I knew what went into production and could picturise the same. My dad is a Chartered Accountant and has his own CA practice in Mumbai (India) and always wanted me to pursue CA (every CA parent wishes the same I guess). Just drop your views here. Now though I was pursuing my engineering, my dad casually mentioned to me that an Engineer and a Chartered Accountant would be a great combination. Part of our Bitesize world of work series. There is no reason apart from lack of awareness about the profession that students first do graduation and then pursue actuarial science. He was really excited to know when I would be registering for CA. Mine is an interesting story – I got to know about Actuary as a profession a few years after I had graduated as an Engineer. For some, I couldn’t let them down and then for the others I had a point to prove. The research work as a part of the project deserved a publication and it did get published, however, in someone else’s name. Hi Suyog, he mentioned in the articles he took private classes and also joined Shah Class in Mumbai. So my advice to all – Do not just aim to get a 40, aim higher. Hey, Right now I am in CA INTER and I am planning to prepare for JEE, if I qualify this attempt. I have strong inclination towards finance and wanting to pursue a certification that will help me in switching over in the field of Corporate Finance-VC/PE. While I was in the IT function, I continued to write and clear exams. Now it was time for CA Final (CA Final has 2 groups – Group 1 and Group 2). Hence, it is important to strike a balance between clearing exams and developing skills. … But I could see it needs a basic degree in either in LAW/ECONOMICS/STATISTICS/BBA/Mathematics etc.. The big problem for qualified accountants these days is many employers find that if they get a school or non-accounting university student they can be trained to go through the motions of basic accounting work. One can start pursuing the course soon after grade 12. Or, you can work toward qualifying as a Certified Public Accountant … By the time I opened my first spreadsheet and fired up my second monitor to start auditing, the idea of switching careers, attending a coding bootcamp, and becoming a software engineer … I’ll just put the name of the CT papers and you would be able to relate what motive each paper serves, other papers you could check on http://www.actuariesindia.org. But with shot-gun approach, you know if you miss, the next opportunity would be after six months and hence you put your heart and soul in it. But well I took all of it and tried making it work my way. Nov’15 Attempt. In fact: In today’s article, we have Sumit Ramani sharing with us – Why he decided to become an Actuary from engineering? In the process, one has already lost over 2 months. This is different to engineering… Again I chose mechanical engineering as it is the most basic form of engineering, hence that kept my option open as an engineer too. You'll learn finance law and will have to pass an ethics exam before gaining your certification. When I started with CA it was tough, very tough in fact. Accounting is Not Rocket Science. In Dec’14. Since I was pursuing CA from ICAI after my engineering, I could opt for the direct route. If you don’t have any bachelor’s degree, there are accounting certifications you can … Or Do you have any questions for me? because the CA journey can be a tough one and a long one. , I was very active in all college activities like college festivals, college committees, etc. However, CA3, the communications exams delayed my qualification by a year. Yes, you are right – a… However, in my knowledge, the other way round is not allowed. To help you understand better – If one wants to qualify as an Actuary from Institute of Actuaries of India (IAI), one has to clear 15 papers. So if you clear CT4 from IFoA, you pretty much have cleared from IAI as well, all you need to is pay the exemption fees. He also shares with us the exact strategy he used to clear his Actuary exams. A mountain I had decided to climb and reach the top because I knew the view from up there would be beautiful. I had IPCC Group 2 pending. A bit of research on the course was enough for me to take the decision and here started a new journey. i think different states … Well, there were times when I myself thought of giving up, especially while dealing with the CA curriculum with the exams on my head. My parents were very happy and encouraged me to pursue engineering instead of a normal Bachelors’s in Accounting or a Bachelors’s in Science. When I was just about to start studying during my preparation leave, all I thought looking at the size of my books was – ‘Come what may, I will do all in my means to make sure I do NOT have to go through these books again’. In fact, I opted for Science after class 10 because I could have my options open if I changed my mind in the future. Or are you someone who did CA after engineering? You can read – My journey from an Engineer to an Actuary. Math Courses (through high-level, statistical reasoni… The question is: can one still become an accountant without an accounting degree? Pick a Specialty. Your email address will not be published. Click here to join our channel and get updates with latest stories of finance professionals. Although many employers insist that accountants have a four-year college degree, some will promote experienced employees who have proven their skill working at non-degree jobs. Most students wait to get the results of their previous exams in the process you lose 2 months straightway. Click one of our member below to chat on. Having a reason to back your decision is very important as the time investment in pursuing CA is almost 3 years and that too if you complete it in the first attempt. In my mind, students typically make two mistakes – Firstly, taking longer to clear exams and secondly, not balancing exams with skills. Or you can work towards a degree apprenticeship as an accountancy or taxation professional. But there are certain steps that are hard to bypass. Quite the contrary, this area of major study is one of great applicability across a number of job fields. ), making him feel that maybe I would pursue CA after engineering and I left it at that! I have an interest in business and maths. Some people have a pa… Dive in, at least it is worth the experience so do give it a shot. I joined a class where Mr. Sharad Shah (from Shah tutorials) took up my case as a challenge and taught me everything in Accounts from scratch. Nov’13 Attempt. This meant I could skip CPT and had to give only two levels: IPCC and CA Final. One should analyze their skills before opting any stream. Bookkeepers typically perform routine tasks such as posting transactions in a general ledger and in accounts such as accounts payable and payroll. After a lot of research, I zeroed on ‘Data Science’ and did my B.Tech project (which was 6 months long). The practical knowledge which I got while doing my articles helped me so much in understanding exam concepts. For those who are seeking the fastest path to a CA / CPA qualification, the quickest route is to pursue the same after class 12. Taking this up worked wonders for me. It was something I was not ready for. You can choose to specialize in a particular field of accounting, including managerial accounting, financial accounting, or tax accounting. With that kind of schedule, one could do 2 CTs in one sitting. This. In fact, when I finished my engineering most of my engineering friends left the country for their Masters, some started working but the only thing that kept me going was the goal – To fulfill my dad’s dream. I chose to give individual groups as that seemed more doable in my case. You could also consider CPA it will give you global recognition and it can be done in 1 year or so. Below I have shared about my exam attempts. Not to scare you but CA from ICAI needs a min of 3.5 years of investment if you clear all the exams in the first attempt else it can also take you 4- 6 years or more. It's also possible to work your way up to chartered status by starting out in a more junior role, for example as an accounting … A bit of research on the course was enough for me to take the decision and here started a new journey”. Luckily I did not change my mind, gave my MH CET (engineering entrance in India), got a decent score and went ahead with Mechanical Engineering. Deciding on a career path is often the next step to becoming an accountant. My parents always supported our decisions and were happy that my brother was pursuing his passion Law, however, I always knew my dad wanted at least one of us to become a Chartered Accountant. In engineering college (Rajiv Gandhi Institute of Technology), I was very active in all college activities like college festivals, college committees, etc. Hi Swathi, Thanks for the msg. Hi There, Yours is an inspiring Story!!! Having said that I must add that there are quite a few people who do CTs towards the end. My family was the reason behind me taking it up as I mentioned above and they were the ones that got me going. In this section, we will discuss the perspective of these two careers so that you can get a glimpse of what to expect from each of them.Ask any businessman, who they depend upon most? The Finance Story – is a niche digital media platform for finance professionals and finance students. Yes, you will be able to complete in 3.5 years however its a lot of studying and lots of effort if you are ready you should go for it. Those hours need to be in business and accounting courses. kept me going was the goal – To fulfill my dad’s dream. Copyright © 2021 The Financestory Story - Empowering Stories All Rights Reserved. I still remember that day, it felt so amazing. In terms of studies, it varied a lot. “Mine is an interesting story. Yes – someone else got the credit for my work. On writing 30 exams, IAI and IFoA have a one-to-one exemption for almost all the exams. I always thought of starting my own business at some point in life and if I do, I think I would be in a better place to do business, understanding most aspects of Engineering and Finance. I did my B.Tech Project in the 4th year of engineering, which was part of the curriculum. The day I got a job with an IT company, I realized that I never wanted to be a regular software engineer. Implementing accounting automation can allow accountants to streamline their workflows and become more effective. To be able to good at accounting and engineering, you need to be a person who is detail-oriented, loves numbers and can be creative enough think beyond the general conception of theories. I found that crazy and laughed. Your email address will not be published. The practical knowledge which I got while doing my articles helped me so much in understanding exam concepts. You can read this comprehensive article to understand more about How to become a CA from ICAI. IAI has ACET as an entrance, I like the thinking behind it. However, in my knowledge, the other way round is not allowed. I decided to give only CA IPCC Group 1. – My father is also a practicing chartered accountant. I am an engineering graduate. Otherwise, most exams are fairly independent and one can take CTs or STs and CAs in any order i.e. And I really interested in the subjects of engineering. May’14 Attempt. The biggest battle was giving CA IPCC exams. The way I tackled it was making sure I worked on my strengths and got an exemption (60 plus) in my favorite subjects. Again I worked hard for this but lost out on aggregate. I completed my B.Tech in computer science engineering. An engineer is the hardest one and you will make the most money right after you graduate. or for that matter start something of my own, my CA qualification would be of great help as CA is one of the most exhaustive courses in the Accounts and Finance space. Given the skills, actuaries possess they can work in risk functions of a bank or in analytics functions of any organization. I cleared CA Final Group 2 in this attempt. But since. In CA Final, there was no set game plan. This is especially with regard to the closely related field of accounting. In May 2013 attempt I cleared CA IPCC Group 1. Here is my advice. Published on June 19, 2018 Updated on September 25, 2019 The Finance Story 3 Comments. Students from any stream, including engineering graduates and under graduates, can become Chartered Accountant. Learn more about the role including real reviews and ratings from current Accountants, common tasks and duties, how much Accountants earn in your state, the skills … Accountants … However, if you intend pursuing Chartered Accountancy or CPA even after becoming an Engineer, Actuary or MBA you can do so. Being a … Give it a try, you can unsubscribe anytime. the more you play, the more likely you are to win). I gave CFA level 1 because I started gaining interest in the Financial Markets (thanks to FM in CA) and cleared that as well. I had to start studying all over again for another 3-4 years (and that is if I cleared in one shot, else even more). Woohoo! Guide me with some advices sir. I was more into sports and athletics, was a national level athlete and ran for Maharashtra (India) in my 10th grade. In my mind Actuaries who are also Chartered Accountants (CA) bring in a lot of value especially in terms of their understanding of financial statements. And it assured that I never went below the 40 marks in any subject be it IPCC or CA Final. During exam preparations when I would be in my room studying. When I took up CA after engineering, many people thought I was digging my own grave and making my life a mess. This article is absolutely brilliant and a brilliant motivator. Virtually all accountants and CPAs specialize in one or more areas of practice. ), making him feel that maybe I would pursue CA after engineering and I left it at that! Earning a finance degree by no means imprisons the individual to only work in a job title containing the word finance. you can do CT5 first and CT1 last, all as you wish! In a finance degree, one will have likely completed many of the following types of collegiate-level courses. right in the beginning. Anyways understanding Accounts was a real nightmare but it all felt so worth it! Engineering can be chosen by science students whereas chartered accountancy is an interesting field too to opt for your future. It was something I was not ready for. I found the idea good as well, but studying CA after engineering was too much to digest. Studying was no exception. In my case, I qualified from IFoA and then also got a fellowship from IAI. To become an accountant, you'll need to have a solid understanding of business and math, so focus on taking math, accounting, and business classes if you're still in school. Happy exploring! Hello, I am also moving in the same direction. Well, it was an uphill task of coping with Accounts coming from a science background. 2. Personally, I feel that while the two professions CA and Actuary have limited overlap in the curriculum, the combination of CA and an Actuary could be very powerful because the skills are complementary. They use spreadsheets and databases to produce reports and financial s… I decided to give only CA IPCC Group 1. took up my case as a challenge and taught me everything in Accounts from scratch. Of course, you will be able to. He told me again that why a CA and an Engineer would be a great combination! To know more about Actuary read this – All You Need To Know about Actuary. The modus operandi for preparation was simple – Study daily, Practice a lot of questions and Revise everything that you studied. For example, CT4 from IAI and CT5 from IFoA. If you are a graduate or post graduate in any stream other than commerce, the … Click one of our member below to chat on. I was more into sports and athletics, was a national level athlete and ran for Maharashtra (India) in my 10th grade. I believe following links (especially the last one) from the website of the Institute of Actuaries of India should answer your questions. After all, everything is possible for those who believe. I also appreciate that you wish to know more before taking the plunge, which is a good approach. http://www.actuariesindia.org/subMenu.aspx?id=13&val=What_does_an_Actuary_do? All of the Institutes are regulated by the body. As can be seen, their applicability and relation to accounting is strong. This can be done by students who have passed 10th standard. IAI adopts the same study material as IFoA (UK), except for practical papers. We help our community of Chartered Accountants, CPAs, Company Secretaries, Cost Accountants and commerce grads find useful news, information and resources on technology, funding, money, career and investment. I also wish to highlight that there are few subjects with pre-requisites. Thus, it is safe to say that the first step towards becoming a CA can … However, once I cleared CA1 (after I had cleared CT series), I cleared all the remaining exams (i.e. This project involved solving one of the interesting problems around network intrusion. First of all, rest assured that you don’t need to study for 4 years to become an accountant. You can read this comprehensive article to understand more about. I thought about it and the entire concept of CA with engineering was a good idea but pursuing CA after my engineering would be too time-consuming. I had to start studying all over again for another 3-4 years (and that is if I cleared in one shot, else even more). Everyone. To make it simple, there are basically four parts in which our studies are divided into: One can give the above papers and series in any order. And I would like to tell why I am planning to do this. I somehow gave my dad a very positive vibe on this (which I realized later! There is no reason apart from lack of awareness about the profession that students first do graduation and then pursue actuarial … But they are completely different careers. Everyone has their own way of studying, if one would pace their studies over a long-time period there could be a chance of fatigue towards the end, given the portion.
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