Chartered accountants perform diverse duties in their professional careers. To learn about industry practices, one has to go through the CA course in India. The CA course covers all topics related to the industry like accounting, risk management, finance, and more. However, one should know more than just theoretical knowledge. CA students should have a practical experience and knowledge about industry practices.
For gaining exposure, a CA student can work under a partitioning CA. A student can also join a CA firm as an intern and gain industry exposure. During the internship, CA students will learn essential skills that can help them in the future. Also, the CA course itself requires students to go on a three-year articleship period. Read on to know the skills developed by joining a CA internship.
Chartered accountants must regularly deal with business owners, investors, managers and other key stakeholders. They often have to present financial reports or risk management solutions to business owners and managers. If chartered accountant does not have conversational skills, they cannot convey their findings. As a result, the client might refrain from giving future work to the particular chartered accountant. By joining a CA internship, a student can learn business communication. Business communication might differ slightly from normal conversation between people. CA students should know about the jargon and terminologies used in the industry.
Due diligence skills
Due diligence skills can also be referred to as investigative skills. Often, chartered accountants are involved in tax audits or compliance checks. Clients might ask chartered accountants to cross-check the accounting policies. In such a case, a CA ensures that the accounting practices follow the standard laid by the federal authority. Due diligence is needed in the industry to know more about a target company, deal, or investment. Chartered accountants should have investigative skills to detect fraud, incorrect financial statements, compliance errors, and more. A CA internship can help a student develop due diligence skills in no time.
An internship for CA focuses more on networking. Chartered accountants have a wide network of clients. The top chartered accountants have a widespread network across the globe. The more the size of the network, the more revenue is generated by a chartered accountant. With a widespread network, CA students can generate industry insights. With an extensive network, a CA can know the industry trends and opportunities.
A chartered accountant may have to deal with multiple clients simultaneously. Instead of getting panicked, a CA should come up with commendable solutions. Instead of crumbling under high pressure, a CA should manage the situation with a calm head.
Working chartered accountants can encounter issues that reduce productivity. From a system error to a forecasting error, several things can reduce productivity. Skilled chartered accountants pay attention to detail and find solutions to existing problems. With an internship for CA, one can learn problem-solving skills. Choose a reputed firm for a CA internship and learn essential skills!