Chartered Accountants - The Fundamental Differences

Chartered Accountants - The Fundamental Differences

Science tells us that the language of the mind is not words, but pictures and this is often the source of many of our stereotypes. For example, mention the word "scientist" and we immediately picture an Albert Einstein figure. The word "accountant" conjures up images of a colorless character rattling a calculator hunched over a desk full of paperwork. However, that would be doing the modern professional accountant a great disservice. To gain this qualification, a person must not only be successful at study, but have excellent analytical and computer skills, and possess a degree of integrity and professionalism that engenders confidence in their ability to manage complex business and financial affairs.So just how does one become a chartered accountant? To achieve this, the candidate needs to complete a business degree in a university. This qualification allows graduates to practice as Accountants but is not enough to earn them the title of chartered accountant.They must already have under their belt, 3 years full-time (or a part-time equivalent) experience working in a relevant accounting role in an organization accredited by the Institute. They would need an Australian chartered accountant or a member of a globally recognized accounting institution as their mentor during the entire period of the postgraduate study.This level of rigor and demonstrated commitment on the part of the candidate has gained the GradDipCA international recognition as an accounting qualification of the highest standard.What does this level of excellence mean to a business client of a chartered accounting firm? One advantage is that as the business expands, requiring additional accounting expertise and services, there will be no need to source help elsewhere, as a chartered accountant operates across most areas of the corporate accounting spectrum.What additional services would be expected to be available? Personal accounting areas such as estate planning, asset protection, business finance, insurance, retirement planning and self managed superannuation funds would be offered. For clients looking at business acquisition, chartered accountants are experts in due diligence and advising on the initial set-up structure, helping people to activate their start-up enterprises with the best possible foundations for success.When you need tax services, clients can access chartered accountants in their local area. Chartered accountants cater other aspects in business management such as management reporting, corporate finance, business planning, secretarial, and strategic consultancy.By establishing a sound working relationship with a firm of chartered accountants, business owners are taking a positive approach to the ongoing success of their business. This is one profession where the rhetoric is more than matched by the discipline of hard-won qualifications, and top-class professional reputations.

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