A chartered accountant is a highly knowledgeable and skilled profession
who shows his expertise in the field of finance including tax, audit,
cost accountancy, share management etc. These professionals either
consult public in their own units, work in private organisations or
appointed by government departments. Almost every organisation and
business units appoints chartered accountants to cater to all
financial needs.
Maintaining
Accounts
A
chartered accountant keeps and maintains various accounts of the
company, update it and prepare financial statements. The preservation
of accounts by CA can range from book keeping to intricate financial
analysis.
Audit
One
of the vital chartered
account services
is auditing. It involves checking and validating the authenticity of
the accounting figures, principles and methodologies of the company.
Taxation
The
CA of the company is responsible for assessing taxes, preparing tax
returns, consulting on tax control measures and auditing cases with
large revenue. A CA also renders advice on different investment
schemes to companies and individuals for saving on taxes.
Cost
Accountancy
All
CAs have the competency to determine the cost of production and
services and suggest cost control methods. CAs also suggest costing
information of a company and suitable selling prices of different
products and services.
Share
Valuation
During
mergers and take-overs, CAs underwrites the valuation of shares of
private and public companies.
Investigation
Finding
out the financial position of a company in relation to issuance of
new share capital, newly acquired business units, sale and
sponsorship of a business and reconstruction of a company is another
important chartered
account service.
Executorship
A
CA may act as an executor or trustee under a will in order to run the
functioning of an estate or house. In this kind of chartered account service,
the CA works in close association with lawyers and solicitors and
assist them in accounting matters.
Secretarial
Work
A
CA may also play the role of a company secretary in MNCs and other
large set-ups. There the CA along with his regular finance jobs also
works with core management team and manages the general operations of
the company.
Policy
Maker
A
CA often acts as a policy maker of a company. He is also responsible
for formulation and successful execution of the company along with
daily checks and performance assessment.
Directorship
The
practice of appointing a CA as one of the company directors is in
practice and well-known. The benefit of having a CA in the Board of
Directors are many including well-planned financial management and
guidance on principles of organisation and ways of effective
delegation of work.
Other
Services
Along
with these, there are other chartered account services like:
- Secretarial and registration work of the company
- Developing company MIS
- Designing company budget
- Developing methods of capital utilization
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