THE MOST RELIABLE PROFESSIONAL ACCOUNTING BODY FOR YOUR BUSINESS

[AJAY KAPOOR]

In New Zealand, potential accountants should complete academic programs, such as a 3-year bachelor’s degree and even an accredited master’s degree that covers business and accounting topics. The candidates are required to complete the practical experience program and CA program. These programs will train them in modern accounting principles and methods.

In Canada, to become a chartered professional accountant, you have to finish an undergraduate degree with coursework in accounting and business areas. Then, you can enroll in a professional Educ program for CAs.

WHY IS A CHARTERED ACCOUNTANT ESSENTIAL IN A BUSINESS?

The CAs perform more than traditional bookkeeping but might be unaware of how essential and extensive the role of a CA is in the business world. The CAs are found at the senior management level of larger companies. Here are the top reasons why CAs offer valuable input:

• Strategic insight. A good CA understands wise financial decisions have to be backed by an in-depth analysis and well-researched data. Critical and analytical thinking allows CAs to offer essential advice for strategic future planning.
• Financial expertise. The extensive expertise and qualifications empowered the CAs as very knowledgeable of all aspects of financial situations and understand several sophisticated financial models and accounting. This makes CAs valuable contributors to a business; they are an essential part of financial management.
• Forecasting accuracy. Any company prepares well for the future, it is challenging to do this efficiently. A chartered accountant has the skills in taking multiple factors into account when forecasting and planning for the business. The CAs can identify changes that can immediately improve the financial position of the company, improve cash flow, and save costs.
• Scarce skill. A CA is listed on the scarce skills. The ability to support the decision-making of the corporate through data-driven and analytical insights is rare and can give advice based on the facts allowing businesses to easily adapt and be profitable.

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