Chartered Accountant Career Guide and Counseling

Question: Chartered Accountant? Is it possible to become a Chartered Accountant in Australia and do your practical training there if you have a South African Accounting and Honours degree?! How must you go about it?! Thank you in advance! I already have the degree, I'm currently busy with my honours in accounting! =)

Answer: Unfortunately petedavo has it wrong, which is why you should not trust sites such as this. CPA Australia does exist, but it is a totally separate body from the Institute (of Chartered Accountants) and does not require a period of Articled Clerkship to become a member. In fact I'm not so sure that articles as such exist in Australia. You would need to join a firm and do your "professional year" (which might be longer than a year) including passing the instiutute's exams in order to become a CA. If you have your degree, the best approach would be to contact any of the big firms in South Africa, Deloittes etc, and ask them about doing your articles in Australia. Look up the Institute's wbsite and get some info from there and also look at CPA Australia's site as you may determine that you would prefer to join that body - but passing exams is common to them both I might add.

Question: Is mathematics the greatest skill of a Chartered Accountant? Is mathematics the greatest skill of a Chartered Accountant? I am planning to be a CA. I want to know if math is a very important skill to have to be a CA. And if a lot of math is a major subject in universities for people planning to be Chartered Accountants?

Answer: Trust me man, any of the math you need to know to be an accountant you learned in middle school. You do not need to be a physics major or calculus genius. Accounting is more about where the numbers go, not doing insane math. Adding, Subtracting, Multiplying, Dividing, and Percentages is what you will be using. It is not hard, but very interesting. Just remember ASSETS = LIABILITIES + OWNERS EQUITY... What you have is equal to what you owe, plus what you own..

Question: How can I get chartered accountant certificated? I have degree in accouting and have 11 yrs experinced in accounting field so far in my country (non EEA). I would like to get a job in this filed in the UK, but they also needed chartered accountant certificated. I live in London, where can I take the course.

Answer: Try the ACCA website for information. Some colleges do the ACCA exams but specialist professional tutors get very good results try BPP, Financial Training or Emile Woolf. Good luck.

Question: What is the fee of an chartered accountant? If anyone becomes a chartered accountant then he/she would be receiving money per month so, what would be his income per month?

Answer: Fees vary enormously from large city firms to small rural firms. It also depends on how many hours you put in as you charge by the hour. The most successful accountants are those who gain a good reputation & attract plenty of wealthy clients. Income as for any self employed person varies from month to month according to how busy you are. You can't put a figure on it.

Question: what's the difference between an accountant and a chartered accountant? I have an accountant at the moment, he's a chartered accountant. I'm thinking of changing. My accountant is lovely but I just cant take much in that he tells me, it goes in one ear and out the other, nothings simple and straight talking. I have been talking with another guy that really knows his stuff, and talks in my language, I've learnt so much and had some brilliant advice from him, even found out that our business will need to be audited (if thats the right term) and our company will have to pay for it, Ive never heard of an audit before now. Only he's not a chartered accountant, does that make any difference in the world of the tax man? Veritas - you are spot on.... I am very unexperienced with managing a company. We have only been set up 7 months. It is a Limited company, myself and partner have an equal sharehold. Thats why I feel I need to be able to understand my accountant, because I hate feeling vulnerable. The audit thing was because we have almost 5 million turnover within 7 months, so it looks like its a probability we'd have an audit, not sure if thats true, like I said, Ive never heard of audit before. Not sure what it will cost neither. But as for simple things like the tax implications on taking out dividends etc, when I ask my accountant, I cant take in what he says, like you, he uses terms that I cant understand ie oxym something? Thats not even in my queens english dictionary :-) So to refrase my question. Being so new to managing a business, should I go with the accountant that I understand more clearly ? or mine that I dont? but trust him to get me through because he is more qualified.

Answer: I think that you need to be careful, you seem to be very inexperienced. If you are a sole trader, ie, not a Limited Company, then you do not need an annual statutory audit carrying out on your business. Public Limited Companies, do require an Annual Statutory Audit and the majority of non-PLC Limited Companies will require an Annual Audit, but there are exceptions. Lets be clear though, an Audit is not technically the same thing as a firm of Accountants keeping your financial books for you, including perhaps, preparation of annual accounts, 'Tax Return', and 'VAT' returns'. It is not brilliant advice to be told that a business needs an Audit, if that is true in your case. That is very basic. I suspect that the term Audit has been used very loosely, and what is really meant is, assistance with accounting records. Again, any properly qualified accountant, would have known about the Audit requirement without having to find out, as you put it. Remember, Accountants will only do what you engage them to do. Your headline question is an oxymoron and betrays a lack of knowledge on your part. This lack of knowledge could be exploited. A Chartered Accountant, IS an Accountant. Those who are in 'Public Practice' will have been approved by their Professional Body, in this case, the ICAEW to carry out Statutory Audits and other Accounting Services. Moreover, members of the Association of Chartered Certified Accountants, whose professional body is the ACCA, may also, if aproved by their professional body, act in the same way as the ICAEW. There are two other approved accountancy bodies, but you don't need to concern yourself with them. As far as the Customs & Revenue (tax man) are concerned, they don't particularly care who actualy completes your tax return, because you remain responsible for the accuracy of the figures. It is possible, however, that if a firm of Accountants with a recognised qualification carries out the work, you may be subject to less hassle and enquiry. Because they may feel more confident with their work. As I said before, you sound very inexperienced and easily impressed. How do you know, therefore, that your (other man) knows what he is talking about? You tell us very little about your business, what its legal status is, or what accounting work you want carrying out. Nor do you say what, if any, are the qualifications of your 'other man'. We know he isn't a Chartered Accountant, but we don't know if he is a member of any recognised Accountancy body, and if he is, whether he has been authorised to carry out the work you require. Again, with your current accountant, who is properly qualified, you don't say what it is that you don't understand, do YOU need to understand it, what work is he doing for you? I have just noted that you have used the word -WE- when referring to your business, that means it could be a partnership. The partnership agreement might call for an annual audit. One thing is for sure, your Chartered Accountant will know what he is doing, and you would have recourse to his professional body if he doesn't. Your other man is an unknown, who may simply be exploiting your ignorence.

Question: Do you need to be a chartered accountant to sign financial accounts? Hi, i am not sure whether to become a chartered accountant. the real question is do you need to become a chartered accoutant to sign company accounts? or do you just need to know what you are doing to sign accounts in uk?

Answer: you need to be a chartered accountant to sign the accounts if you want to sign in uk you should be registered under ICAEW www.icaew.com

Question: What high School courses are needed to be a Chartered Accountant? I am a boy in grade 10 going into grade 11. I want to be a chartered accountant. What courses are needed to be taken in grade 11 and 12 for this job?

Answer: Take accounting as an elective if your school offers it (mine does) Take the highest math classes that your school offers (probably up to calculus)

Question: Is Australia good place for new immigrant who is chartered Accountant.Wht should I take care before coming? I am a chartered Accountant. I have got Aus permanent residence. I am planning to go Australia in May 09. Can you tell me when should i go, where should I go and can I get job easily. How easy it is to have your own house?

Answer: Welcome Coming over in May should work for you, make sure you have enough money to support yourself for a few months though. If you don't get a job before, people tend to put on more staff in June/July, especially Accountants, ready for tax time. Where should you go depends on a lot of things, you need to expand this more, such as weather preference, city or town, beach or not, public transport, etc. In the capital cities you should be able to get work no problem, same would go for your regional cities but as you get more remote or smaller towns that would decrease. Once you have a job, you should be able to get a home loan. You should be able to get something decent anywhere for $600,000, but in the city that would be in the suburbs and away from the beach.

Question: I got my accounting degree in US. How can I become a chartered accountant in Canada? I am a Canadian citizen. But will Canada recognize my degree from the US? What steps do I need to take to become a chartered accountant? Please help me. This is my dream.

Answer: These sites are for the Chartered Accountants of Canada and they set the regulations and standards regarding CA's. Although you may be able to use some of your US degree credits here you will still have to qualify and can't simply transfer from the US our laws and financial system etc are completely different. It also depends on which province you work in as provinces also vary in this area. there is information about educational requirements, professional work experience and job opportunities. http://www.cica.ca/index.cfm/ci_id/38700… also http://www.cica.ca/index.cfm/ci_id/617/l… and http://www.cica.ca/index.cfm/ci_id/171/l… plus http://www.casource.com/memberGlobal/ini…

Question: Could anyone explain me the process of becoming a chartered accountant? I am a Bsc graduate? Should I take the CPT exam or not? Will I be allowed to directly take the Inter exam? What would be the minimum time from today to become a Chartered Accountant?

Answer: Dear, you are a Science Graduate, why you want to change your career to Commerce line? CA is a very tough course, it needs serious study, attachment and regular coaching through Indian Institute of Chartered Accountants. However if you are still interested please visit the website of the same. Good luck.