Difference between CAand CS: Which one is better
Most students get caught in a dilemma while choosing between CA (CharteredAccountancy) or CS (Company Secretary) Both are popular choices among students and promise a successful career, but there is a significant difference between the two, which we will discuss in this article.
While both are equally good professional options for commerce and non-commerce students, the deciding factor for which one is a better course depends on the individual’s interests.
Understanding what these courses are, their opportunities, and an overall brief comparison between them will help you decide which is better.
To help you make an informed decision we will first describe these terms in detail.
Table of Contents
CAvs CS: which one is better What is CharteredAccountancy? What is Company Secretary? Overview
Comparing CAvs CS Opportunities Expertise Difficulty Salary Pros and Cons of CA Pros Cons Pros and Cons of CS Pros Cons Conclusion FrequentlyAsked Questions (FAQs)
What is CharteredAccountancy?
ICAI i.e.,The Institute of CharteredAccountants of India is the only authority to grant the CAdegree and conduct the exam. Upon completion of class 10th, students can register for the CAcourse in ICAI After passing class 12th they can appear in the CAcommon proficiency test.
Achartered accountant’s role involves accounting, taxation, auditing, financial management, and knowledge of corporate laws.As every organization needs financial management, the scope of CAis wide Chartered accountants can work in various businesses, industries, consultancy, and chartered accountant firms, financial institutions and can also do independent practice
What is a Company Secretary?
ICSI (The Institute of Company Secretaries of India) is the authority that offers the CS course in India. It is for aspirants who wish to practice as a company secretary in India and abroad.Acompany secretary is an expert in corporate laws, security laws, capital market, and corporate governance
Company secretaries are in-house legal experts responsible for all regulatory compliances of a company Aspirants need to have passed class 12th/graduated to be eligible for this course. One needs remarkable decision-making and critical thinking skills to pursue a career in CS.
Overview
Criterion CA CS
Course Name CharteredAccountancy Company Secretary
Conducting Body ICAI (The Institute of CharteredAccountants of India)
Course Structure Levels of CAcourse
1. Foundation Course
2. Intermediate Course
3 Final Course
Candidates can enroll in the CAfoundation course after 10th class.To apply for the CAintermediate course candidates can either follow the Direct Entry route or simply clear the CA foundation course After successfully passing the intermediate examination, a student enters the final level of the course i.e., the CAfinal course.
ICSI (The Institute of Company Secretaries of India)
Levels of CS course
1. Foundation Program
2. Executive Program
3 Professional Program
12th pass (or equivalent) students ofArts, Science, or Commerce stream can pursue the foundation program. Graduates of all streams excluding FineArts can pursue the executive program. One can pursue the professional program only after completing the executive program of CS course
Duration 5 years 2-3 years
Duration of Practical Training
3 years 1 75 years
Comparing CAvs CS
CAand CS are the two most popular courses in the commerce stream. Both courses give students a wealth of prospects and promise a bright future, but each also has its own complexities.To help you choose the right course we will look at their main focus, opportunities, expertise, difficulty, and salary
Main Focus
● The CAcourse focuses on auditing, accounting, financial evaluation, and taxation. It teaches about the concepts and application of accounting, understanding of mathematical and statistical tools, and their application in business and finance.
Entrance Test CACPT or CACommon ProficiencyTest (Mandatory)
or Company Secretary Executive EntranceTest (Mandatory for undergraduate candidates.
graduates can
the
Job Profiles 1. InternalAudit 2 TaxAudit 3. StatutoryAudit 4. Finance Controller 5 ForensicAuditing 1. LegalAdvisor 2 Corporate Planner 3.Associate Company Secretary 4 ChiefAdvisor
Those
CSEET
Commerce
directly apply for
Executive Program)
Who is it for?
who are good at conceptual understanding and analytical reasoning. Those who have good organizational, legal, and financial skills.
● The CS course emphasizes company law, corporate governance, and communication. It teaches critical aspects of business communication, legal aptitude, and knowledge about the management and administration of companies
● To put it simply, the CAcourse is accounting oriented and the CS course is law oriented.
Opportunities
● Students pursuing a career in CAenjoy opportunities both in the public and private sectors as every organization needs a CAwho can manage accounts and taxes Some of these are statutory or internal auditors, tax or finance managers, certified public accountants, etc.
● Those pursuing a career in CS find opportunities in corporate planning and strategic management.They might also work as secretarial auditors or compliance officers
● Both chartered accountants and company secretaries have the option of working independently for firms or starting their own firms/being self-employed.
Expertise
● CA requires a quantitative approach, hence one must have strong analytical skills and be good with numbers.
● CS requires more of a qualitative approach i e , one must have strong communication skills, multi-tasking skills, and attention to detail.
● Some hard skills one must have to pursue CAare ITproficiency, general business interest, and awareness On the other hand, the hard skills required for CS are expertise in company law and management.
Difficulty
● Both CAand CS are professional courses and require hard work.The difference in the difficulty of the two courses lies in their curriculum and passing marks
● CAdeals with numerical and case studies chapters on the other hand CS has more theoretical subjects. Most students tend to find CA subjects more challenging because they have a practical approach while CS has a theoretical approach.
● Many students consider the CAexam difficult owing to its vast syllabus and complex pattern. If you aim to score above the CApass percentage you have to make proper use of your time and devote at least 2 hours sincerely to studying daily.
Salary
● Afresher CAis offered anywhere between 6-7 lakhs per annum which can increase up to 40-70 lakhs based on experience, work profile, skills, firms, and international postings.The pay also increases for those who pass the exam in the first attempt and rank holders.
● Afresher CS usually earns 3-5 lakhs. With the increase in experience, they can earn up to 17 lakhs If he or she is a rank holder, the salary might increase.
● The average income earned by chartered accountants is more than that of company secretaries The average salary of a CS in India is 6 lakhs per annum whereas the average income of a CAin India is 8 lakhs per annum.
Pros and Cons of CA
Despite being one of the most sought-after and prestigious career choices in India, like any other profession chartered accountancy also has its pros and cons. Students must first consider these before arriving at a decision.
Pros
● The profession of chartered accountancy has a lot of versatility and career flexibility
● Demand for chartered accountants is significant both in India and abroad.
● Achartered accountant can be a lawyer in favor of the client
● Achartered accountant has an impressive six-figure salary.
● As every organization requires a chartered accountant they have a high demand.
● The field of chartered accountancy is secure, and stable with steady growth
Cons
● The CAcourse is rigorous and cracking the exam is tough which leaves little time to develop other skills.
● Chartered accountants have to stay up-to-date with the ins and outs of the finance industry, this requires constant learning even after securing a job
● There is a high level of competition in the CAfield which puts one under a lot of pressure
● Developing a client base is hard.
● Working hours as a CAare long and monotonous.
● Chartered accountants have to meet deadlines at the end of every financial year which is very stressful.
Pros and Cons of CS
CS also has its fair share of advantages and disadvantages It is important to make a sound decision and figure out if this course is right for you or not.
Pros
● The CS course is cost-effective.
● This course offers good remuneration and growth opportunities.
● Acompany secretary has no stress about meeting deadlines.
● The CS profession has flexible working hours.
● The CS profession comes with a lot of travel opportunities
● One gets to learn a lot about the industry by interacting with higher authorities and intelligent people.
Cons
● The income of a CS is not up to the mark.
● The work weeks in this profession are long.
● There is a lot of documentation and paperwork.
● Career growth is slow when compared to CA
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Conclusion
To sum things up, students must choose the course which adds value to their career plans and interests them.You should keep your goals in my mind and not follow anyone’s decision blindly but decide for yourself Doing proper research on both courses will give you some insight into what each one offers and whether it fits your personality or not.
