CA and CS are often confused with each other by people who don’t know the difference between them
- Commerce students often go back & forth between Business and Communications as their two most popular career options.
- However, you should keep in mind that both of them offer a lot of great potentials and would be terrific choices for your future.
A CA is an accountant who has passed exams set by the Association of Chartered Certified Accountants. They are given the designation because they have demonstrated that they have a certain level of professional knowledge.
- Chartered accountants are the only authorized person who can sign the Financial Statements of the Company.
- They are experts in financial reporting & company management, so you will be able to keep your records in order.
- Audited financial statements are only considered valid once there is a signature of an Authorized Qualified Person overseeing the accounting.
- Chartered accountants are professionals that help minimize risks and losses, while also providing accounts for firms and companies.
- Their skills also come in handy when it comes to accounting.
- These machines work across various domains of business such as audit, taxation, investment, finance, etc. to increase the profitability of your company.
A Company Secretary (CS) is a person required to be a Certified or Regulated Company Secretary and work in the UK.
- Some companies hire company secretaries so they can work on legal, accounting, and other matters. This helps them be much more efficient in their day-to-day operations.
- They deal with business advice, company legislation, what to do in a conflict of interest issue, how to make financial reports, developing strategy for your entire company, and generally ending up wiping away sweat from executives.
- CS is the only person who can sign a secretarial report.
- It is not possible for any other person to handle a company's legal affairs better than a Company Secretary will.
What do you think you should go with?
- If you're interested in corporate laws and compliances, then CS may be the best option for you.
- It's a theory-based course that focuses on the big picture and not practical application.
If you have an aptitude for accounts and taxation, then CA is the right choice. It's a practical course with less emphasis on theory.
- You can achieve the best results if you do both courses, but it might be difficult to do that while also balancing work or school.
- To fulfill these criteria, an exam candidate needs to devote a significant amount of time studying for a full-time role in the industry.
- The environment in which these exams are held is challenging and candidates need to have that mindset when preparing for it. Pick what you think is best suited for your situation to have any chance at clearing the exams.
Salary Pattern: What's the real difference?
- Almost all of these qualifications and experience are financially beneficial, and the actual wage package for each is determined by a variety of circumstances, including the individual's and company's work history.
- A CA's compensation in India can range from 7 to 30 lakhs, whereas an accountant's income in the United Kingdom can range from 44,000 USD [about 33,44,000 INR].
- Company secretaries, on the other hand, earn an average income of between 5 and 10 lakhs in India, with salaries as high as $51,000 [about INR 38,76,000] in other parts of the world.
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