CA vs CS Which One's the Best?| What is the difference between a CA and CS

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Chartered Accountant (CA) Vs Company Secretary (CS) in 2018

Chartered Accountant Certificate (CA) and Company Secretary (CS) are designations for international accounting professionals. CAs tend to specialize in non-US GAAP and perform high-level accounting and auditing functions in CA firms and firms while CSs specialize in corporate law and conduct compliance activities for large companies.

Let's talk about the differences between these accounting certifications and which ones suit you best, as well as your career.

What is the difference between a CA and CS?

What is a CA?

Chartered Accountant (CA) is an international accounting degree that you earn by following a program of study and passing an exam administered by a Chartered Accountant Institute in your country of certification. CAs are accounting experts in non-US GAAP and carry out detailed accounting functions within an organization or government entity. Most countries outside the United States have their own institute. The best known are England, Ireland, Wales and India.

What is a CS?

A Corporate Secretary (CS) holds a management position within a company. This is not a position of administrative support, which is commonly associated with the term "secretary." In fact, some CSs are lawyers or have MBAs. The country in which the SC is employed will determine the extent of liability. In some countries, the use of a CS within an organization is mandatory. In general terms, a CS ensures that the company and the directors act in compliance with the law.

They may also perform certain accounting functions, primarily in record keeping. The requirements to become a CS vary greatly and depend largely on the country in which you work. Examples of organizations that provide specific training for corporate secretaries include ICSA in the UK and the Institute of Corporate Secretaries of India (ICSI).

Differences between CA and CS Career Path

Chartered accountants provide accounting services for clients in the public or private sector. Their fields of study and expertise include: Audit, taxation, financial reporting and business / managerial accounting. They specialize in non-US GAAP and generally work overseas, but rarely in the United States.

The CS acts as a primary source of communication between the company and its shareholders, for example by taking and distributing minutes of shareholder meetings. In some countries, the CS will perform certain accounting functions such as the management and storage of company accounting records (eg, investments, ownership, payroll, insurance, taxation, etc.).

CA vs CS: Which career has more scope?

CS vs. CA Duration Differences

The time required to become a chartered accountant depends on the country in which you want to become a charterer and its specific requirements. It also depends on your current training and your professional experience. For example, ICAS has four ways you can choose to become a certification authority. On average, it takes about five years to complete the three-level examination and meet the work experience requirement as most candidates work an average of 300 hours for each level of examination.

It takes less time to become a CS than a CA. In India, the process takes an average of 2-3 years. Candidates must pass a three-level exam including the basic, intermediate and CS exams administered by the Society of Secretaries in India (ICSI).

CA or CS Cost of Certification

The cost of creating a CA depends on whether or not your employer pays for your training. If you continue track 3 through ICAS, it will cost you between £ 5,750 and £ 13,900. Track 4 (on the high end) costs about £ 3,318. Just take the CA exam for about $ 1,000.

If you become a CS through ICSI in India, the Foundation's program will cost $ 70; the executive program and the professional program cost $ 116 each. The cost to simply pass the CS exam is around $ 500.

CAs and CSs may be required by the jurisdiction in which they work to take continuing education courses.

CA and CS Potential Salaries

The median salary for a CA is $ 44,000 in the UK. CAs in India can expect to make $ 11,000. The average salary of a US salary is $ 51,000 and in India the salary is $ 8,000. Again, where you work, the type of training you have received and your years of experience will have an impact on your annual salary.

CS or CA: Why not have both?

You can. In Sri Lanka, for example, a chartered accountant may serve as CS. If you are a CA and you also want to become a CS, you can check with the country in which you are employed to see what additional requirements are.

If you are a CS and want to assume more accounting functions within your organization or change careers completely, you will obviously need more formal training to get the CA designation.

In most cases, it is not useful to obtain these two certifications. Both accreditations offer different opportunities, but in most cases, a certification authority can do all that a CS can do. So, if you're going to get a certification, you'll be better off becoming a chartered accountant.
Chartered Accountant (CA) vs company secretary (CS) - Which one is the best?

Although there may be overlap, the two professionals are very different. Chartered accountants focus on accounting functions. While the CS may be involved in some accounting reports, the main functions are in corporate compliance and liaison with shareholders.

It boils down to what you want to do with your career. If you want to work for a public company and specialize in international accounting standards and auditing, you should pursue the designation of Chartered Accountant. If you want to work in business compliance for a large company, you should look into the designation of corporate secretary.
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