Wednesday, April 10, 2019

What Are the Qualities of a Good Chartered Accountant?



Leading or working in a CA firm is a common career choice for a majority of chartered accountants in India, according to ICAI. They also say that around 50% of associate and fellow CAs are currently practising full-time or part-time.

The primary goal of every such practising CA is to bring in more clients and to expand their business. Now, CAs cannot advertise and solicit customers as the ICAI bars it. Hence, this can become an obstacle in this case.

One of the only ways a CA firm can reach to more clients is via word-of-mouth marketing from the existing ones. This is only possible when they are satisfied with the service.

You need to portray all the essential qualities of an accountant if you seek to run your own firm in the future and provide a satisfactory service to your clientele.

If you do have such aspirations, here are some of the qualities that you need to have:


Communication Skills


There are various technical jargon associated in the field of accounting, auditing, and taxation. Clients who don’t have much comprehension of these fields may not know such terms.

Hence, effective communication from your end is of utmost importance. You have to adapt to their comprehension as per the mode of communication.

Not only clients, but you also need to be adept at communication to interact with your seniors, juniors, and partners.


Organisational Skills


One of the essential qualities of an accountant is to organise not only physical items but also the intangible ones. From stacks of papers to multiple spreadsheets, you have to organise all of these as part and parcel of your daily functions.





Having superb organisational skills will help you get access to urgent requirements rapidly and manage your work more efficiently.


Professionalism


Any breach of contract and divergence from the code of conduct laid down by the ICAI can lead to a temporary or permanent removal of the CoP. The organisation lists all such members found guilty under their schedules.

Hence, maintaining robust professionalism and ethics is another one of the qualities of an accountant. You must not accept information as it is presented and always question them.


Team leading skills


CAs working in a firm lead a team of accountants who will collectively function on the project. Any discrepancy or conflict within them can hamper the project productivity.

You have to ensure that such situations don’t arise by leading your team in a coordinated way. Such skills are one of the top qualities that an ideal chartered accountant must have.


Accountability


Taking responsibility is a critical role of a CA that you need to have. You must take account for your mistakes and learn from them. Also, you need to make sure that the same doesn’t arise anymore. Lastly, put every contingency in place to avoid any errors from occurring.

These qualities will surely help you expand your practice and bring in more clients. Taking help of a CA loan in such cases can provide you with the funds to relocate to bigger premises, purchase respective equipment, etc.

NBFCs like Bajaj Finserv provide Business Loans for Chartered Accountants that can help you with the same. They can disburse loans within 24 hours of approval and against minimal documentation.

Make sure to start developing these essential qualities of an accountant during your CA articleship. Selecting the right firm will help you with the same. Gather as much experience over time to open up your own and prosper.



No comments:

Post a Comment

Join 1000's of People Following 50 Plus Finance
Real Time Web Analytics