Career Advice to Aspiring Chartered Accountants

This post will teach you how to make the most of your experience as a CA or CPA accounting intern.

In fact, Tejan has interned with one of the best accounting firms, BMR Advisors and Grant Thornton. He shares his knowledge and experiences with us in order to assist you.

Tejan is from Bhilwara, Rajasthan, India.

He is currently an assistant manager and core team member of the first hedge fund in India at Edelweiss Financial Services, Mumbai (India).

Note: The CA of ICAI consists of 3 levels. CPT, IPCC, and CA Final. One has to do a mandatory 3-year internship after clearing the IPCC exams. One can also choose a 1-year industrial training programme.

1. Industrial Training

• I did not go for industrial training. However, it is a good platform to explore new areas, and one must consider it.
• Industrial training really helps those who are from small and mid-sized firms.
• The term “responsibility” refers to the act of determining whether or not a person is responsible for his or her own actions.
• It can give you an insight into career options like investment banking, private equity, portfolio management, equity research, etc., which are not normally offered during an internship.

2. Identify your career objectives.

• If you are able to identify your career objective early on, then the internship can be done accordingly.
• For instance, for those who want to practice, it can be best to do articles in a small or mid-size firm. These firms give you all kinds of assignments to work on.
• If you wish to work for some other organisation or do an MBA post-Chartered Accountancy, then working for a big organisation would help you immensely. It will give you exposure to the corporate culture and improve your communication skills.

3. Do not burden yourself by attending coaching classes years in advance.

• Many students burden themselves with CA final classes as soon as they complete their IPCC. However, this only acts as an extra burden. During your articles, your focus should be on learning as much as you can. This is applicable to students from any professional body.
• Joining a coaching class 2.5 years before your exams will not help you, for sure. Instead, while interning, you should go through your modules and books and learn practically.
• You can take classes for a few subjects a year before your study leave. That is good enough. Plan your coaching class by doing a backward calculation. For instance, you need 4 months of self-study. So plan in such a way that your classes end by December, assuming you attempt it in May. Further, the last four months should be a do-or-die situation. I am a vehement believer in “striking the iron when it’s hot.” This is the best time to study, so remove all distractions from the previous four months.
• It would be advisable to self-study theory subjects and gain as much practical exposure as you can.

4. Take additional courses (only if necessary)

• Lately, a lot of newly qualified chartered accountants tend to pursue additional courses like an MBA, CFA, FRM, etc. This decision is taken without knowing the objective of the course.
• Mostly, it is done to add another degree to the profile, which doesn’t help in the long run. For instance, CFA should be done if you want to enter capital markets, M&A, or any form of deal structuring. It will rarely help if you want to build a career in, say, audit or taxation.
• The limited point is: No course should be done for the sake of it. Remember, time is precious and should be put to judicious use.
• On the other hand, during articles, it is advisable to do small courses and certifications to enhance your knowledge.

5. Seize Any Opportunity That Comes Your Way.

• Make use of the opportunities provided by ICAI. The Students National Convention gives students the opportunity to present papers on various topics. Quizzes, elocutions,  and various other tests are conducted by ICAI.
• Similarly, different professional bodies worldwide provide such opportunities. Check with your respective professional body.

6. Interview Tips

• While attending an interview as an article assistant or a Chartered Accountant fresher, remember that you are not expected to know everything as you have no prior experience.
• What is expected of you is how confidently and clearly you communicate what you know and don’t know.
• Most of the organizations are looking for talented candidates who can be trained and utilized. They are not looking for someone who knows all the theoretical concepts but doesn’t know how to present themselves during an interview.
• Dress professionally as if you are mirroring how a qualified chartered accountant would dress. Proper dressing leaves a great impression.
• Highlight your extracurricular activities adequately in the resume.

7. Act As If You Are A Qualified Professional

• Take responsibility for the tasks assigned to you as though you were a qualified professional.
• A few days of long hours should not bother you. It will set the stage for you to work in the future under difficult conditions, which will not come as a surprise. Remember, our profession demands a lot of dedication and hard work. Having said that, please develop a hobby that you can pursue in your spare time. This will rejuvenate you mentally and help you become more efficient at work.
• The best way to be responsible is to treat yourself as an employee and not as an intern. This will help you reach your full potential and shoulder responsibility like a true professional.
• Have fun. Attend office parties and socialize with office colleagues. The impression created here might help you convert this internship opportunity into full-time employment.

8. Make mistakes.

• The most important piece of advice from me to any CA or CPA student is: “Make mistakes.”
• The objective of your article is to gain an understanding of the different areas that a chartered accountant can be exposed to without becoming an expert. This will help you understand what your area of interest is and what you can do long-term.
• Be curious and learn every aspect of the work.

9. Network (as much as you can).

• Try to network with your colleagues at the workplace. And by networking, I mean serious networking, which is not just restricted to going out and having a nice dinner. The network you develop should help you professionally in your career.
• Even if you are an introvert, you can still network by being polite, helping out, asking questions, and sharing a smile with all those you meet.

10. Help Others

• When you first start as an intern, you will have to do everything you hate. Do it anyway.
• If someone needs help, help them, and if you need help, ask for help.

In Conclusion

I will end this with a quote by Epictetus: “I would say that we don’t control what happens to us; all we control are our thoughts and reactions to what happens to us.”

Remember that: You’re defined in this life not by your good luck or your bad luck, but by your reaction to those strokes of fortune. Don’t let anyone tell you differently.