As an ambitious student eager to make it big, you will need to make an appropriate choice for higher studies. After graduation, you could search for the best higher studies stream, and there are abundant options. Which is better CA or CS or ICWA? This question could be in your mind, and let us search for answers.
There was always a long-standing debate on whether to go for a CA or ICWA. These days, students are also considering the CS course, which has added more dimensions for a career option. Which is better CA or CS or ICWA? You will only get proper answers after assessing each study stream. Let us discuss them one by one.
The Chartered Accountancy Course
The CA is one of the most in-demand certification courses in this country. You need to know its details before seeking answers to the question of which is better CA or CS or ICWA? If you manage a CA certification, you will be renowned as an accounting & taxation, and auditing expert. To join a CA course, you will have to go through three stages, and here are the details.
- In the first stage, you must pass a standard proficiency test or CPT. Have you passed your class XII board exam? You are eligible to qualify for this test. This exam is held twice a year, and to sit for the exam, a candidate will have to complete the CPT registration formalities at least two months in advance. Students who complete the CPT registration formalities will be eligible for a one-year correspondence course. This is a basic course where you will be taught the preliminary steps of accounting, mathematics, mercantile law & statistics, and economics.
- Students who pass the CPT are eligible to study the Professional Competence course. This is a theoretical 18-month course, and candidates who pass the CPT can study it.
- The Final Course is the ultimate barrier to your dream of becoming a CA. If you have completed the graduation and the Competence course, you are only eligible to study for this course. You will need to obtain a passing mark for the Final exam and work experience to receive an ICAI membership. If you complete the course successfully, you get a CA certification.
The CA course details candidates seeking answers to the question of which is better CA or CS or ICWA? The course duration is four and a half years after a candidate also needs to undergo training simultaneously. On completing the course, a student gets the certification.
The ICWA Course:
There has been a rise in demand for cost management professionals because of the amalgamation of world economics. Hence, students need clarification and search for answers to the question of which is better CA or CS or ICWA? This profession has been developed & controlled and regulated by the ICWAI. The term stands for The Institute Of Costs and Works Accountants of India.
A candidate who goes through the course gained extensive knowledge on the collection, collation & assimilation of the financial data of an organization. A cost accountant plays a critical role in managing the finances of any organization.
Understand the eligibility of The ICWA course.
A student who seeks answers to the question of which is better CA or CS or ICWA, should also know about the eligibility of the ICWA course. The course is divided into three basic levels, and here are the details.
- A candidate must undergo an entry-level correspondence study called the Foundation course. You can enrol in this course after passing the 10th standard board exam. The course duration is six months, and this introductory study is essential.
- After the introductory course, a candidate must pass the intermediate exam. The course duration is a year, and you can learn via correspondence or oral coaching. It sets you up to meet the challenges of the final course.
- The Final Course is the ultimate stage of the study; upon completing it, you will receive the ICWAI degree. Students should realize that this stage is rather lengthy. Of course, the correspondence or oral mode is 12 months, but a candidate will have to undergo 36 months of practical training.
Upon completing the course, a student now gets a Cost & Works Accountant certification from the ICWAI. The prospect of getting a lucrative job is high because every company requires the services of a cost accountant. This information should be valuable for a student seeking answers to the question of which is better CA or CS or ICWA.
The CS course and career opportunities
The details of the two courses have been discussed extensively, and before seeking an answer to the question of which is better CA or CS or ICWA, you should also know about the CS. A company secretary’s function is to mediate between the organization and the board of directors. To become a company secretary, a student must complete a professional course from The Institute of Company Secretaries in India. There are three stages of this course, and here are the details.
- You will have to first go through the process of the Foundation program and pass it. Have you passed the 10+2 board exams? Students who have completed this exam are eligible to sit for the CA Foundation course.
- Upon completing The Foundation course, you will now have to complete the Executive course and pass the exams.
- The ultimate stage of the process is the Professional program, which you will have to complete after passing the Executive course.
You need to understand the job prospects after completing the CS course, and only then do you know which is better CA or CS or ICWA. The job prospects are lucrative, and you can seek employment in government accounts & law departments. In the private sector, you can rise on the corporate ladder quickly and become a Chairman or a Managing director. You can also join the Board of Directors of any company.
The scope of work for the professionals:
You need to understand the scope of work before seeking an answer to the question of which is better CA or CS or ICWA. Do you have a knack for calculations and accounting? If so, you could choose to study either a CA or ICWA. Here are certain things you need to keep in mind while making a choice.
- A CA course gives you insights into accounting & taxation, and auditing, while the ICWA is all about collating, collecting, and assimilating the company’s financial information.
- A student will find it much more challenging to acquire a CA membership than ICWA.
- A CA is paid more handsomely than an ICWA professional.
- The only drawback is the CA certificate does not allow you to pursue higher management studies. On the contrary, you can pursue other courses after acquiring an ICWA certificate.
Therefore, you can see the differences between the career prospects of a CA and an ICWA. Students who do not have a knack for accounting and calculations can undergo a CS course. A CS primarily looks into the legal aspects and acts as a mediator between the company, its board of directors & shareholders, and even the government.
This is a complete guide for a student seeking answers to the question of which is better CA or CS or ICWA. Before selecting a career study stream, you will need to assess the strengths & weaknesses and then choose your option. You should pass the exam with good marks and have a great career ahead.