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A very inspiring quote that must be read and followed each day goes something like this...

Life’s Challenges Are Not Supposed To Paralyze You, They’re Supposed To Help You and Discover Who You Are”.

Chartered Accountancy is one of the few Professional Courses With Best Career Scope but lives of budding CA Students are full of many challenges that demand rigorous mental and physical devotion.

But there are few challenges that can be done away with as they neither seem moral nor they contribute towards the professional and personal development of the aspirants.

In this blog, we throw light on some of the desirable and some of the undesirable challenges that make CA students to buy argumentative essay.

The Entrance Hurdle

The national professional accounting body conducts CA Foundation which is the first stepping stone for CA aspirants. The entrance exam follows both subjective and objective patterns.

The exam comprises of two subjective and two objective tests. The syllabus is tasking, to say the least. A common challenge faced during completion of the course is its excruciatingly long duration and in-depth study material.

While one may find it difficult to clear the exam at the first attempt, students must remember that a strong base in concepts from senior secondary level accountancy class will serve extremely well in clearing the exam.

Course Content

A common grievance across the CA student community has been the surplus course content that subsumes most of the aspirants' time and effort. With little emphasis on multi-skills capability like presentation skills and interpersonal communication, the course is monotonous and students/aspirants can be easily distracted or lose focus.

Financial Modeling is now important for Chartered Accountants. It is an important skill set to stay ahead of the rat race. Adding it to the training curriculum will serve in more than a couple of ways.

The primary among these would be of opening more job opportunities in fields like Research, Investment Banking, Corporate Finance etc. Naysayers might say that it will increase weights on the already burdened CA students.

But one must remember that evolution is the key to improvement and survival.

CA Intermediate

The second stage of the CA Course is for many the first encounter with truth. And the truth is that the journey of being a CA will not be a cake walk. Reaching the peak has never been easy for any mountaineer and the challenges faced by CA aspirants in this stage are similar if not the same.

A few highlights of this stage include:

  • 8 Papers.
  • In-depth knowledge of core subjects as well as Accountancy.
  • 12-15 Hrs Regular Study.

Good practice for aspirants would be to start practicing mock tests once all major modules have been completed.

Articleship Training

Once a CA Student gets through the intermediate stage, the next and the most enduring stage is Articleship Training. These are, as they say, shallow waters and getting on the shore will demand standing up to rigorous workload and face all challenges with resolve and focus.

The training period under a certified Chartered Accountant lasts for a period of three years and the more a particular aspirant sweats it out during this period the lesser is the struggle after becoming CA.

The prerequisite for success in this stage is a well-trained schedule that also gives aspirants enough time for learning.

The Chartered Accountant under whom aspirants train plays a pivotal role in this regard as it is an opportunity to learn and know Everything about becoming a Chartered Accountant.

The Dearth of Industrial Training

The CA curriculum gives little emphasis on industrial training. Hence most CA students upon successful completion of the course are left with little options and most opt for a career in tax or audit sector.

CA Final

Prestige never comes easy in life. Being a CA offers lifelong prestige and a repute among immediate peers and society. Along with practical experience gained during training, the CA final exam challenges students/aspirants on more than one front.

These include Finance, Corporate and Economic Laws, Strategic Cost Management, Direct Tax Laws & Internal Taxation and many other areas. More than 80% of the aspirants fail to clear the exam in first attempt each year.

Few common challenges that student must be prepared to face during this final face-off include:

  • 6 months time before CA Final is not enough for preparation.
  • Articleship deviates students from regular studies.

Hence CA students must refrain from getting carried away and never pile on things for the final six months. Covering the entire CA Final Syllabus in 6 months is a hard nut to crack. Regular studies even during the articleship period serves well for clearing the final goal.

Some Common Grievances

In addition to the above, there are some challenges faced by CA student’s community during the course of their studies and articleship training that deserve immediate attention with a prompt solution. The primary among these include:

1. Complex Transfer Procedure

The restrictions on Transfer of Articles forbids students from opting for some other principal if they are dissatisfied with their current articleship. This leaves the students vulnerable to both mental and physical exploitation.

The terms and conditions of articleship are framed in accordance with the preference of the principals. This bestows unprecedented dominance to the principals.

2. Meager Stipend

Articleship is very demanding. The ICAI prescribes a minimum stipend of Rs. 1000/1250/1500 which seems very unfair from the very outset. In some cases, students even have to do deal with unfair deductions. This couples into a situation where students to manage daily expenses and even have to bear conveyance expenses in some cases.

3. Quality and Timing of Training

Fair treatment at the workplace has been at the center of social media scrutiny for some time now and the same goes for CA students too. Article Assistants are intimidated by Principals and forced to do work equivalent to that of Office Boys & Personal Assistants.

A good amount of time is wasted in these mundane jobs. Especially considering the course workload that CA students have to bear parallel to audits. Time is gold for CA aspirants.

On an average, CA student put in 35 hours per week during articleship training. This amount of time wasted just because you are bound to a Principal or Firms is unacceptable.

4. Discrimination

Last but not least, discrimination is one thing that deserves no room in professional course s and workplaces. But some Articled assistants enjoy a privileged treatment for being relatives/close friends or in some cases the same caste of the Principal.

This not only dents the confidence of other CA students but also paints a sorry picture about the way the world works.

In conclusion, we can say that CA students face Everest like challenges during their coaching and articleship period.

While most of the challenges are important for their overall growth and mastery as future Chartered Accountants, there are some forced challenges which must be done away with.

Team