Lifestyle of A Chartered Accountant | Daily Routine of A Chartered Accountant

CA Study Tips 19:57

Lifestyle of A Chartered Accountant | Daily Routine of A Chartered Accountant

lifestyle-of-chartered-accountant-daily
lifestyle-of-chartered-accountant-daily

Chartered Accountants are some of the highly paid professionals all over the world. Their work is hectic and strenuous and full of risks. But they must take time out to relax and rejuvenate and spend time for themselves and their families. 

Chartered accountants (CAs) help organisations in keeping their books and maintaining their finances. CAs, either employed with an organisation or working independently, suggest measures to achieve the organisation's financial objectives and goals. As a management consultant, they have to manage the cash flow in a strategic direction and implement changes from time to time. They have to report the performance of the firm financially and act as trusted advisors in rendering financial consultation.

Key Responsiblities of a Chartered Accountant:


CAs are the primary financial consultants of an organisation and their key responsibilities include:
  • Designing and controlling an efficient budgetary system of the organisation
  • They determine the best ways for the effective utilisation of business capital
  • They manage and install the cost accounting system of the organisation
  • They advise from time-to-time on the financial status of the organisation and propagate methods for effective delegation of funds and budget
  • They advise the board of directors on matters about international taxation, joint ventures, and foreign collaborations and on agreements of double taxation
  • They prepare feasibility studies on expansion schemes and new projects by the organisation
  • The CA acts as a registrar in matters about the transfer of shares and other securities

 

How can CAs maintain Work-Life Balance?

A typical workday of a CA is hectic and busy. It becomes a must for them to have a work-life balance to ensure they have a fulfilling personal and professional life. Here are some tips to maintain a work-life balance:
  • 1. Spend time with family. Avoid virtual meetings over the phone or skype when your family is around. 
  • 2. Maintain an online diary to schedule appointments, meetings and other commitments. They help as excellent reminders of meetings that have been scheduled even months back. 
  • 3. Maintain good internal communication with the other staff members in the office. Share work with significant others before the brain explodes. Helping each other at work makes everybody’s work in office easy.
  • 4. At times it is mandatory and extremely beneficial to get one’s hands literally on the work. Some of the serious office works demand personal touch to it to maintain its integrity. 
  • 5.  Checking pay rates, cash flows, preparing finance reports are better done by self rather than relying on others.
  • Have adequate rest and sleep for at least 6-7 hours a day. Break the entire day into different chunks and allocate time for work, to spend time with family, for recreation and rest. And all this can be done in an 8-9 hours’ workday.

How Typical Day of Chartered Accountant Looks Like?

The job profile is known to multitask with utmost concentration and sincerity. They have to be performing the following duties regularly and we can say that they have very little time for their work and devote a majority of their time for the work as they have control over the entire financial functioning of the organisation. In a typical workday, the CA can be doing the following activities, and this is also their routine work schedule.
  • Check emails regularly and revert to all of them with a valid response quickly.
  • Arrange for meetings with the clients or visit them on their site to discuss the new financial aspects of the project.
  • They will have to discuss the MOM of the meeting with the senior analyst and auditors to ensure the risk validity of the new venture.
  • Review the major accounting issues periodically and solve them at the earliest.
  • Maintain a thorough record of the work performed to tract the activities easily in future.
  • Attend multiple client meetings in a day if working with more than one client.
  • Undertake training session within the firm to help equip colleagues to contribute positively to the organisation.
CAs take up different roles in an organisation, including financial accountants, auditors, tax accountants, budget analyst, etc. Their roles and responsibilities differ according to the role they adapt to. Sometimes they may have to adapt to more than one role and multi-task for the efficient functioning of the firm economy.


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