A chartered accountant (CA) is an accountant who has undergone specific training. This is a sign of professionalism.
The accreditation is used worldwide, but in America the equivalent is called certified public accountant (CPA).
Charted accountants have undertaken specific training, which means they can perform the role of an accountant with confidence and expertise, and they can perform some task that people without the accreditation are not allowed to do.
What is an accountant?
An accountant is someone who does your accounting. This means that they keep records of the financial transactions in your business—in other words, what your business owns, owes, sells, and buys.
They can also:
- run payroll for your employees
- pay incoming invoices
- Invoice your clients
An accountant is not a protected title, meaning there are no formal qualifications required to become one—although accountants usually have a background in economics.
You can call yourself an accountant if you do the bookkeeping in your business.
In the US in 2023, an accountant earned around $79 880 per year.
What does a chartered accountant do?
A chartered accountant does a lot of the same work as an accountant, but they have undergone formal training, completed exams, and have a relevant educational background.
Additionally, there are some accounting jobs only a chartered accountant can do, such as filing tax returns and auditing financial statements.
Chartered accountants are employed by businesses, individuals, and governments all over the world.
How do you become a chartered accountant?
A chartered accountant is a protected title, and you have to complete training to become one. The requirements vary from country to country, usually you need a BA in math, accounting, law, or finance.
You’ll also need to complete a program, and most likely you’ll need to gain some practical experience. They are also usually a member of an accountant organisation.