What Is Chartered Accountancy?

Chartered accountancy is an internationally recognized occupation, similar to a Certified Public Accountant position in the United States. Read on to learn more about becoming a professional public accountant. Schools offering Accounting degrees can also be found in these popular choices.

Learn About Chartered Accountancy

Chartered accountancy is one of six main areas of accounting that are recognized internationally. If you worked as a chartered accountant, you would typically be sponsored by a company in the business or finance sector or by a government agency. Your duties would be to prepare and analyze financial documents for audits or inspection. You may also be responsible for keeping accurate public records, analyzing budgets and providing investment planning. Another role may be to work as a financial advisor.

Important Facts About This Occupation

On-the-Job Training A state may allow some years of work as a public accountant in lieu of a degree
Professional Certification Additional certifications available through the Institute of Management Accountants and the Institute of Internal Auditors, among others
Continuing Education Required to retain CPA license
Similar Occupations Financial analyst, financial manager, budget analyst, personal financial advisor

Become a Public Accountant

As a public accountant or Certified Public Accountant (CPA), you may be responsible for taxes, auditing, accounting or advising for companies or individual clients. Public accountants work in a variety of industries that range from government agencies to non-profit organizations. Some public accountants are tax specialists, while others may focus on healthcare benefits or financial statements.

Educational Requirements

If you want to become a public accountant, you'll need at least a bachelor's degree in accounting, finance or a related major. Employers may prefer job candidates who possess a master's degree in accounting. An internship may increase your opportunities for employment.

You may need to obtain a state license, which varies by state. You may also want to seek a Certified Public Accountant (CPA) credential, which requires an examination and set amount of work experience. If you are a CPA, you'll be required to renew your license every three years, depending on your state.

Skills

As an accountant, you'll need strong math and analytical skills and be good with details. Good computer skills are necessary, especially to work with spreadsheets, financial software and other programs used to track data and prepare reports.

Employment Outlook

According to the U.S. Bureau of Labor Statistics (BLS), there were approximately 1,259,930 accountants and auditors employed in 2018, and the number of jobs in this field was expected to grow 10% between 2016 to 2026, which is faster than other occupations. (www.bls.gov). The median annual salary for accountants was $70,500 in May 2018, according to the BLS.

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