CA articleship is an important part of the intermediate level of chartered accountant course. An aspiring CA gets to associate with business, creating audit reports, balance sheets, and assisting the organization to reach its financial goals. Articleship provides the much-needed hand on insight on a chartered accountant’s job role, and a student should balance both their studies and on-the-job training to gain the maximum knowledge.
There are primarily two groups of students who balance articleship along with studies and CA-inter preparation. These include –
- Direct entry students – Students who enrolled in the CA course after graduation. They can sit for the exam after completing their articleship and gathering the necessary skills required for an accountant.
- Enrolled students – Learners who have cleared both or either of the two groups of intermediate can register for the articleship.
How to balance articleship and study?
There are certain tips one can follow to cover both their chartered accountant articleship and studies. Let’s take a look at some of them.
- Employ better planning – Managing the time crunch faced by a would-be CA is one of the most sought-after qualities of an accountant. The student will have to schedule their practice and studies co-ordinating with each other.
Tip – It is better to break down the syllabus into subject topics and further break those into chapters and allocate separate time to each.
- Goal oriented scheduling – It is recommended to frame one’s schedule depending on their daily objective and goals. Goal-oriented scheduling will allow an individual to achieve closer targets and compile that to fulfill their CA articleship.
Tip – Dividing the day between practice and study can be helpful to segregate and schedule each day according to one’s individual goals. Moreover, it will help a student identify important milestones of their articleship and make up for any slack that might occur due to any reason.
- Willingness to learn – An individual pursuing chartered accountant articleship should be an enthusiast and willing to learn from both their practice and studies. Unlike other streams, accountancy relies on practical approach where an auditor is expected to gauge and solve the scenario by themselves. Balancing study and articleship will become significantly easier and efficient if a student absorbs hands-on knowledge during participating with an audit farm.
Tip – Staying familiar with the progression and introduction of any new regulation can draw a perfect balance between study and articleship. A CA will be able to utilize the details during his or her practice and is likely to understand the procedure better through implementation.
During articleship, an aspiring chartered accountant will gather enough capital to open their own CA firm after receiving a Certificate of Practice. They can also avail a loan for a chartered accountant to mitigate any financial shortcoming and open an establishment or fulfill any chartered accountant fees details. Several financial institutions including NBFCs offer such credits to eligible applicants. Its borrower-friendly features and benefits make CA loans an attractive financial product.
Financial institutions like Bajaj Finserv offer loans for chartered accountants up to Rs. 35 Lakh as a credit to help a borrower tackle their financial difficulty. These credits are unsecured, meaning an individual will not have to pledge any collateral against the sum.
Following the above-mentioned tips will definitely help balance CA articleship and studies. It will aid an individual complete their course and gain first-hand knowledge in the most proficient way to meet the expectation of a CA student from articleship.