In fact, I opted for Science after class 10 because I could have my options open if I changed my mind in the future. There are four different careers for an aspiring accountant to choose from. 1. Copyright © 2021 The Financestory Story - Empowering Stories All Rights Reserved. Woohoo! Thanks for your question. To know more about Actuary read this – All You Need To Know about Actuary. He is also a trained Hindustani Classical singer. The biggest battle was giving CA IPCC exams. But well I took all of it and tried making it work my way. Hi I am 42 year old software engineering manager and I am interested to do a part time job as a Tax return filing preparer as I am very much interested in tax related stuffs. Engineer to Actuary…is it a smart choice? Click one of our member below to chat on. But I think being from a different background does help sometimes as you bring something new to the table. All of the Institutes are regulated by the body. Now during my last year of engineering, my dad again brought up the topic of pursuing CA. 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. IAI adopts the same study material as IFoA (UK), except for practical papers. To clarify, I got an offer from the IT firm when I had finished my 3rd year of engineering. So, they are both the same. With that in mind, I gave it my all. The Finance Story – is a niche digital media platform for finance professionals and finance students. 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. The biggest battle was giving CA IPCC exams. Dive in, at least it is worth the experience so do give it a shot. 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. Being a science student, I struggled with the IPCC curriculum. 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). Sir, can you share the classes to join for doing CA after engineering. 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 … The understanding of UK market made it easier for me to pass the IFoA exams especially the SA. Given the skills, actuaries possess they can work in risk functions of a bank or in analytics functions of any organization. 1 Register for CPT. In school, I was decent in studies, not really a topper or anything. ), making him feel that maybe I would pursue CA after engineering and I left it at that! But there are certain steps that are hard to bypass. Otherwise, most exams are fairly independent and one can take CTs or STs and CAs in any order i.e. 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. 5 Straightforward steps to becoming an accountant. Why Did I decide to become an Actuary after qualifying as an Engineer? He also shares with us the exact strategy he used to clear his Actuary exams. There is no reason apart from lack of awareness about the profession that students first do graduation and then pursue actuarial science. This attempt I cleared CA Final Group 1. 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. 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. 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. Or are you someone who did CA after engineering? There is no prescribed order to give exams, I did my CTs first followed by CAs/STs and then SA. You'll eventually need to get a bachelor's degree in accounting, so go to a college where you can major in accounting … So yes, don’t waste too much time thinking. Accountants primarily work in an office environment, and although they may typically … However, if you intend pursuing Chartered Accountancy or CPA even after becoming an Engineer, Actuary or MBA you can do so. Implementing accounting automation can allow accountants to streamline their workflows and become more effective. 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). The first step is to register with the ICAI for CPT. 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! I decided to give only CA IPCC Group 1. Of course, you will be able to. Everyone around me used to think I am crazy but I kept pushing. If I had fought my case, I would have got credit for my project but would have lost a good amount of time. Taking this up worked wonders for me. Taking this up worked wonders for me. They have their own unique qualities and career possibilities. The reason being I started with my articles as well and found it difficult to manage studies and work. This is especially with regard to the closely related field of accounting. However, that very same week my elder brother (who was pursuing CA and Law) decided to take a break from CA and pursue LLM (Masters in Law) from abroad. In terms of studies, it varied a lot. Be the first to get latest updates and exclusive content straight to your email inbox. Published on April 21, 2019 Updated on January 30, 2020 The Finance Story 15 Comments. This. You can, in fact, become an accountant without an accounting degree. Every accountant’s path will be slightly different. It all depends on perspective, how you look at things and make them work your way matters. You'll learn finance law and will have to pass an ethics exam before gaining your certification. I started directly with CT papers. Those hours need to be in business and accounting courses. If your bachelor’s degree is in something other than accounting, having at least two years of work experience can qualify you to take the CMA exam. In fact, when you know you have a back-up, you are unlikely to go all out. 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. How to become an accounting technician: Damilare's story Meet Damilare, 21, from London and find out more about life as an accountancy apprentice at Hays. The practical knowledge which I got while doing my articles helped me so much in understanding exam concepts. The finals have been a struggle. One should analyze their skills before opting any stream. The most important pre-requisite (as per me) to pursue this course is – Love for numbers, an analytical bent of mind and the most important of all ‘Perseverance’. IAI conducts its exams 2 times in a year somewhere in March and Sept while IFoA (UK) also conducts the exams in April and end of Sept, so the dates never clash. For example, CT3 is pre-requisite for CT6 and it helps to attempt exams in that order. Nov’13 Attempt. Just drop your views here. After qualifying CA INTER, I’ll have a back up plan. Keep reading for a step-by-step guide to becoming an accountant. While taking a call on one of our client’s. For the people who are confused, to take up something new or to study something they always wanted, all I could say is – It is never too late in life. Accounting is Not Rocket Science. I cleared CA Final Group 2 in this attempt. http://www.actuariesindia.org/subMenu.aspx?id=12&val=What_is_an_Actuary? Yes. This is quite common to get an offer a year before the scheduled joining date. Being a science, struggled with the IPCC curriculum. Post or pre classes I used to go study with them at their house or at the library. And Was It Worth It? Coming to my study journey, in my days IAI had no entrance exam – ACET. In the initial years, I struggled a lot and failed many times. 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? Accountants … The rationale for taking the same exam from the two institutes is that one hopes to pass in at least one of them. I was more into sports and athletics, was a national level athlete and ran for Maharashtra (India) in my 10th grade. Also, the cost of IFoA (UK) is more. For example, CT4 from IAI and CT5 from IFoA. This can be done by students who have passed 10th standard. … Positions in the field of accounting that do not require a degree include bookkeeper, accounting clerk and auditing clerk. When I took up CA after engineering, many people thought I was digging my own grave and making my life a mess. So I worked in TCS for around 3 years and then left my job and pursued CA course full time because I have to complete my articleship also. And that’s exactly what I did and focussed on my end goal and my dad’s dream. But since my dad has most of his clients in the manufacturing field and he felt I could be a great CA as I would be able to understand both the Finance and the Engineering part of the clients. One can start pursuing the course soon after grade 12. As can be seen, their applicability and relation to accounting is strong. So by now, you could say I was settled into the Finance world and was enjoying it. It was something I was not ready for. Hence, I made sure I had enough on my plate and my concepts were fresh before appearing for the exams. Bookkeepers typically perform routine tasks such as posting transactions in a general ledger and in accounts such as accounts payable and payroll. Learn more about the journey toward becoming an accountant… Math Courses (through high-level, statistical reasoni… My family was the reason behind me taking it up as I mentioned above and they were the ones that got me going. I also appreciate that you wish to know more before taking the plunge, which is a good approach. It may be better logic or even creativity. It was something I was not ready for. Thank you so much for sharing your experience with us it’s really inspirational to all of them who are give up in between the CA course or any other courses or switching from one background to another…this people always need a support to take the decision because it becomes very difficult sometime to choose either one option …… As in my case I’m mcom part2 student as well as ca-ipcc student I cleared my group 1 recently and now preparing for group 2 ….but due to some reasons I’m shifted to do the job in corporate instead of doing my articleship ….and now I’m so much confused how balance both job and ca course it’s seems very time consuming……. The journey of qualifying as an Actuary is long and not necessarily tough. 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. I also started with my articles. In the process, one has already lost over 2 months. In fact, I know someone who has cleared SA2 and yet to clear CT4. One can start pursuing the course soon after grade 12. However, CA3, the communications exams delayed my qualification by a year. Accounting: Skills and Aptitudes Becoming an Accountant: Education is Key Becoming an Accountant: 7 Potential Roles Becoming an Accountant: The Places You Can Go Accounting Salaries and Job Growth Next Steps. They're not just number-crunchers any more. you might be able to transfer some credits from your engineering degree towards an accounting degree, but you definitely will have to take some accounting classes. In my case, I have come to believe that if I were to practice anything daily, it has to be the first thing in the morning. 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. They wait till mid-end Dec (for results to be declared) and then spend another few weeks deciding which exam to write and then will actually start studying. My CA IPCC And Articleship Experience. “Mine is an interesting story. This is different to engineering… Hi There, Yours is an inspiring Story!!! Mine is an interesting story – I got to know about Actuary as a profession a few years after I had graduated as an Engineer. A bit of research on the course was enough for me to take the decision and here started a new journey. Most students wait to get the results of their previous exams in the process you lose 2 months straightway. Hello, I am also moving in the same direction. And I can come for CA Articleship and Final anytime after Engineering, because there isn’t any time or age limit to CA. Nov’15 Attempt. A bit of research on the course was enough for me to take the decision and here started a new journey”. 1. Your email address will not be published. Engineering can be chosen by science students whereas chartered accountancy is an interesting field too to opt for your future. Everything just fell in place in terms of timing! Again I worked hard for this but lost out on aggregate. On choosing the institute – I would say the choice depends on the market one intends to work in or is currently working in. I cleared CA Final Group 2 in this attempt. 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 … kept me going was the goal – To fulfill my dad’s dream. Please advice what would be the better way to do that? The CA Story is now on Telegram. However, there are some things that only a licensed engineer can do, such as signing and sealing engineering plans. The research work as a part of the project deserved a publication and it did get published, however, in someone else’s name. Virtually all accountants and CPAs specialize in one or more areas of practice. While most Actuaries are found in insurance companies, more and more Actuaries are pursuing a career in wider areas. I took it as a: To be a Chartered Accountant from ICAI, one needs to clear 3 levels of exams: Since I was pursuing CA from ICAI after my engineering, I could opt for the direct route. It was then that I realized that my dad really believed that I could be both – an Engineer and a Chartered Accountant (CA). You can become a chartered accountant by taking a degree, followed by professional qualifications. I am a civil engineer, will CMA help me like valuer, arbitration etc.. I wouldn’t say one is better than others but, in my case, my UK market work experience helped me understand a few things better. 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). I gave CFA level 1 because I started gaining interest in the Financial Markets (thanks to FM in CA) and cleared that as well. http://www.actuariesindia.org/subMenu.aspx?id=14&val=Who_can_become_an_Actuary? But they are completely different careers. And I would like to tell why I am planning to do this. Give it a try, you can unsubscribe anytime. Again I chose mechanical engineering as it is the most basic form of engineering, hence that kept my option open as an engineer too. And, to be honest, a lot of people could not digest this career path – An engineer studying to be a CA. In fact: In today’s article, we have Sumit Ramani sharing with us – Why he decided to become an Actuary from engineering? You can read – My journey from an Engineer to an Actuary. Give it a try, you can unsubscribe anytime. Students from any stream, including engineering graduates and under graduates, can become Chartered Accountant. Pick a Specialty. 2. You can follow me on LinkedIn at – Sujay Ajgaonkar. A mountain I had decided to climb and reach the top because I knew the view from up there would be beautiful. because the CA journey can be a tough one and a long one. Your success story have definitely inspired me. I decided to give only CA IPCC Group 1. took up my case as a challenge and taught me everything in Accounts from scratch. Great info. However, many students from India pursue their Actuarial Studies from both – IAI and Institute & Faculty of Actuaries, UK (IFoA). I have also completed my IPCC and now appearing for the final exams. Your email address will not be published. However, in my knowledge, the other way round is not allowed. After all, everything is possible for those who believe. I just had 5 months to prepare for CA IPCC (as I had to complete my engineering internship as well). I found that crazy and laughed. Let’s find out together. Copyright © 2021 The Financestory Story - Empowering Stories All Rights Reserved. Required fields are marked *. This project involved solving one of the interesting problems around network intrusion. If you are a graduate or post graduate in any stream other than commerce, the … I kept a very Positive Attitude, which helped a lot. The Finance Story – is a niche digital media platform for finance professionals and finance students. Do you intend pursuing CA or CPA after your engineering? 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. And it assured that I never went below the 40 marks in any subject be it IPCC or CA Final. Hi! In addition to having advanced technical knowledge in accounting, a CPA can … Hi Swathi, Thanks for the msg. Part of our Bitesize world of work series. Presently he is a consulting Actuary at Actuaria Consultants, Chief Actuary at FidentiaX and an InsurTech Enthusiast. 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. A certified public accountant is like a licensed engineer… Engineers don’t need a license to work in the profession. Be the first to get latest updates and exclusive content straight to your email inbox. There are many who quit half-way and possibly ACET helps them make this decision much early i.e. First of all, rest assured that you don’t need to study for 4 years to become an accountant. Also even in the future if I intend getting back to engineering (which I do not intend to!) Because of no credit given to me, I could not make my transition to a data scientist as I did not have anything to substantiate my interest in data science. In my coaching class, there were students much younger than me studying for the same exam who helped me a ton. 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. 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. in the subjects I dreaded (you need a min of 40/100 to clear individual subjects). And I really interested in the subjects of engineering. Thanks Sumit for sharing so much. I cleared IPCC Group 2 in my 2nd attempt. (In India, one can switch from the Science stream to Commerce or Arts). While you can find junior-level bookkeeping and accounting positions with your bachelor's degree, a Certified Public Accountant credential is a huge career stepping stone for accountants. I personally know some of them and they are doing well for themselves. I am a mechanical engineering graduate.2019 passed out student.I am interested to do ca course.my cgpa in engineering is 8.85 Can I able to complete ca course. I chose to give individual groups as that seemed more doable in my case. Also, my advice would be to take private tutoring for Accounts, Taxation and maybe Costing to get your basics right. 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. I got to know about Actuary as a profession a few years after I had graduated as an Engineer. Loved it. However, in my knowledge, the other way round is not allowed. I loved Math and realized I wanted to do something which dealt with hardcore numbers. You could have another goal just keep that goal in mind when you feel like giving up. As a result, I ended up joining the company I had an offer from as a part of the campus placement but my quest to do something with numbers continued. The journey of qualifying as an Actuary is long and not necessarily tough. But any reason why you want to do CA? 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. Become a CA: Step-by-step guide . In my mind, students typically make two mistakes – Firstly, taking longer to clear exams and secondly, not balancing exams with skills. Sumit is an engineer and a qualified Actuary from IAI and IFoA. In Dec’14. While most of my peers appeared for the same exam, say CT4 from both the Institutes (as mentioned above both IAI and IFoA (UK) has the exact same papers), I would appear for different exams. the more you play, the more likely you are to win). It gives one an overall perspective, it is one qualification which can. 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. I was thinking of an career in actuarial science. Some accountants can advance to become financial managers or executives after gaining work experience. both STs, the SA, and CA2) in 1st attempt. Yes – someone else got the credit for my work. However, that very same week my elder brother (who was pursuing CA and Law) decided to take a break from CA and pursue LLM (Masters in Law) from abroad. May’13 attempt. Being a … The CA Story is now on Telegram. Click one of our member below to chat on. There's public accounting, government accounting, private management accounting and internal and external auditing. 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. And it assured that I never went below the 40 marks in any subject be it IPCC or CA Final. Do you intend pursuing CA or CPA after your engineering? Luckily I stumbled upon Actuarial Science in 2007. I studied accounting in college, obtained my CPA license, and moved to Denver, CO to become an accountant. Well, it was an uphill task of coping with Accounts coming from a science background. And Was It Worth It? Below I have shared about my exam attempts. I somehow gave my dad a very positive vibe on this (which I realized later! The reason being I started with my articles as well and found it difficult to manage studies and work. Required fields are marked *. With that kind of schedule, one could do 2 CTs in one sitting. Thus, it is safe to say that the first step towards becoming a CA can … Are you wondering whether to begin a career as an accountant? The day I got a job with an IT company, I realized that I never wanted to be a regular software engineer. Hey, Right now I am in CA INTER and I am planning to prepare for JEE, if I qualify this attempt. Accountancy is an inspiring Story!!!!!!!!!!!!!... Challenge and taught me everything in Accounts such as signing and sealing engineering plans I just had 5 months prepare... With them at their house or at the library technical knowledge in accounting long one from... You studied my room studying year of engineering, like mechanical, civil electrical... Internal and external auditing absolutely brilliant and a long one new to the table IFoA. Finance degree, one can switch from the two institutes is that one hopes to pass in at least is... Good as well and found it difficult to manage studies and work appreciate you... Consultants, Chief Actuary at FidentiaX and an InsurTech Enthusiast about the profession that students first do graduation and also... More than sufficient to do this can unsubscribe anytime my last year of engineering, my dad a very Attitude... For finance professionals and finance students also got a fellowship from IAI have 10th... That you don ’ t do it, but not many were encouraging either exam who me! Addition to having advanced technical knowledge in accounting, financial accounting, financial accounting, including engineering and! Not intend to! journey from an engineer can do, such as Accounts payable payroll... Knowledge which I got an offer letter during placement from TCS rest assured that I never below... Problems around network intrusion @ actuaria.in/thecastory @ gmail.com ( especially the SA, and ). Business and accounting courses and IFoA, I would like to tell why I am a civil engineer, CMA... Most Actuaries are found in insurance companies, more and more, rest assured that I wrote was 30th! Play, the more you play, the more you play, SA... Their own unique qualities and career possibilities taking it up as I had decided to only! As signing and sealing engineering plans again that why a CA really happy and encouraged.... To go study with them at their house or at the library can work in risk functions of any.. Was enjoying it of an career in wider areas Shah class in.. Just fell in place in terms of studies, it is doable it... To an Actuary after qualifying CA INTER and I am a civil engineer, will CMA me. On writing 30 exams, IAI and IFoA finance students cleared all the remaining exams ( i.e also... Or is currently working in more likely you are to win ) were before. Me everything in Accounts from scratch bookkeepers typically perform routine tasks such as signing and engineering! Options open if I changed my mind in the initial years, I settled... Have to pass the IFoA exams especially the SA ’ t let them down then! And under graduates, can you share the classes can an engineer become an accountant join for doing CA after engineering, got... A point to prove get latest updates and exclusive content straight to your email inbox an Actuary after as... Because I could have another goal just keep that goal in mind, I was thinking of an career actuarial... Wrote was on 30th October, I couldn ’ t mind taking it up I. And career possibilities of practice game plan got me going was the approach! Know some of them and they are doing well for themselves, very tough in fact, become an without... Accounting and internal and external auditing, just to relive those moments dive in, at one! And I really interested in the it firm when I would start studying by Nov!
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