Every student has undoubtedly wondered about what to choose after the 12th exam. Selecting the best professional path after high school might be challenging. The majority of 11th graders who select the commerce stream go on to take the CA or CS exams. There is fierce competition in both CA and CS as these are among the toughest exams in the country.
‘Chartered Accountant’, also known as CA is a professional credential that attests to knowledge of finance, auditing and accounting. In contrast, the term ‘Company Secretary’ (CS) is a certification, which demonstrates proficiency in company law, corporate governance, and financial management, and is also professional.
If you are preparing for CA or CS, then know what is the difference between the two. Although CS and CA have many common things, they also differ in some fundamental ways. As you get ready for any of these professional courses, you need to understand the difference between CS and CA.
What Is CA?
The Institute of Chartered Accountants of India (ICAI) offers the credential CA or Chartered Accountant. According to the CA syllabus, it offers proficiency in accounting, auditing, taxation, and finance. CAs provide knowledgeable advisors in areas pertaining to finance and auditing. The ICAI exam must be passed after the 12th grade to become a CA. Following this, completion of the required training is also a must.
What Is CS?
The Institute of Company Secretaries of India (ICSI) offers the CS qualification. It’s related to corporate affairs, governance, and company law. In the company’s legal and administrative affairs, CS serves as an expert advisor. Candidates are required to pass the ICSI exam in order to become a CS. In addition, the required training, such as CA, needs to be finished.
CA Detail Process
Organisation- Institute of Chartered Accountants of India (ICAI)
Qualification- Specialisation in Accounting, Auditing, Taxation and Finance
Exam – CA Foundation Exam of ICAI
Syllabus- Accounting, Auditing, Taxation, Finance and Business Management
Roles- Expert advisor in accounting and finance-related matters
Opportunity- Job opportunities in accounting and finance-related fields
Salary- Usually higher salary than CS (up to Rs 60 lakh after experience)
Training- 3 Years Training
CS Detail Process
Organisation- Institute of Company Secretaries of India (ICSI)
Qualification- Specialisation in Company Law, Governance and Corporate Affairs
Exam – CS Foundation Exam of ICSI
Syllabus- Company Law, Governance, Corporate Affairs, Finance and Management
Roles- Expert advisor in legal and administrative matters of the company
Opportunity- Company Secretary, Legal Advisor, Governance Advisor
Salary- Usually the salary of a company secretary can be Rs 4 to 15 lakh per annum.
Training- 15 Months Training
CA Vs CS: Main Focus
Auditing, accounting, financial assessment, and taxation are the main topics of the CA course. It concerns accounting principles and practices, as well as the use of statistical and mathematical tools in business and finance. Corporate governance, communication, and company law are highlighted in the CS course. It imparts important skills in business communication, legal ability, and company management and administration understanding. In short, the CS course is focused on law and the CA course on accountancy.
CA Vs CS: Opportunities
Students pursuing a career in CA enjoy chances both in the public and commercial sectors since every organization requires a CA who can manage accounts and taxes. Among them are certified public accountants, tax or finance managers, statutory or internal auditors, etc. Opportunities for those interested in a career in computer science include strategic management and business planning. They might also be employed as compliance officers or secretarial auditors. Chartered accountants and company secretaries might choose to work for themselves or other companies on an independent basis.
Which One To Choose CA Or CS?
Currently, CA courses are in great demand, particularly when practising independently of a business. They are consulted on a wide range of topics, including taxation, accounting, auditing, finance, and cost. However, a CS can only be advised on business legal matters. The only individuals with the authority to sign the company’s financial statements are chartered accountants. Financial statements can only be referred to as audited financial statements and given to the company’s shareholders if the CA has signed them.
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