As an accounting student and a potential future professional accountant, you have definitely heard terms like ‘Chartered Accountant’ or ‘Technical Accountant’ very often. But there are still many students who actually cannot differentiate between the two and also don’t know actually what does the term means separately.
What do you mean by Technical Accountant?
A technical accountant actually is a financial expert who has the responsibility to look out the various details related to accounting of a company. Also, the person provides assistance to the senior accounting person, financial manager or an auditor of the company.
How actually it is different from a Chartered Accountant
A Chartered Accountant no doubt is highly qualified and has passed many specialized competitive exams set by a very renowned professional body. To pass these examinations many students join CA Programme in Kolkata. The responsibilities of the Chartered Accountant includes preparing financial reports, analyze and also look into the trends in the financial market, provides unique strategies, gives better business ideas as well as assists the audit experts in their work. In the sense, the work of the Chartered Accountant is much more elaborate than the technical accountant. A CA also plays a very senior role in any organization which the person is associated with and is more focused on day to day basis work.
Here are some key points that will able to differentiate between a Technical Accountant and a CA:-
- Training – If we talk about a Technical Accountant then the person only needs to know the basic aspects of accounting to do the regular day to day work. While for a Chartered Accountant, the person must be qualified with a specified degree in accounting and also should pass the chain of exams. Even there are many students who join CA IPCC coaching in Kolkata to score good marks in these exams.
- Job Structure– Generally a technical accountant joins any company from junior level. With the course of time, the person gains experience and way up their level in that organization. While the case of a Chartered accountant, it is completely different as the person plays a very senior role in the company. Also, sometimes the person is also responsible for supervising the junior accountants.
- Duties and Responsibilities – There are no fixed job responsibilities for a technical accountant. The person may be responsible for keeping the financial records, preparing reports related to finance or paying some invoices. But the duties and responsibilities of a CA are way big and enormous. The person is responsible for setting up the entire financial budget of the company, undertakes the entire financial audits, analyzing the financial risk if any of the company, tax planning and much more.
A technical accountant can also become a Chartered Accountant. It actually depends on your qualifications and the experience you have gained while working as a technical accountant. To become a CA it is important that you must complete some more modules in your academics which you might do not required for technical accounting.