Should You Pursue Chartered Accountancy When Your Aim is to Do Business?

Should You Pursue Chartered Accountancy When Your Aim is to Do Business?

Chartered Accountancy course is all about becoming CA and having expertise on subjects like Taxation, Business Laws and Auditing. Developing expertise in these subjects is different from developing business and entrepreneurial skills.

Pursuing CA
First, it is important to understand to whom the CA-course is designed. Chartered Accountancy course – the subjects of study, the Articleship, and other training provided in this course – is designed for those who want to become Chartered Accountants.

Becoming CA in itself is a big goal. This requires spending about 5 years of your time, energy and efforts into it. Only after becoming CA, you’ll be at the liberty to choose what to do next with your life.

CA is primarily the course for those who either seek employment after becoming CA, or who want to go for independent practice.

Formal Education
If your long-term goal is to start, build and do business, the CA-course will not directly contribute to your goal. You can figure this out yourself simply by looking at the subjects this course offers you to study, the Articleship and other training provided in it. These are not specifically helpful for those who have entrepreneurial dreams and who are interested in doing business.

If you have entrepreneurial aspirations (like starting a business, building it and maintaining it successfully) and if you want to have a formal education in this regard, before deciding on which formal education course to pursue, have a look at the subjects it offers you to study. Does it teach you anything about doing your kind of business? Will those subjects help you in starting and doing your business? If not, then they may not be contributing to your long-term goal.

Alternate Education
For entrepreneurial aspirants – those who want to start a business, build it successfully and look after it – there is informal and direct path which contributes to your goal.

Having formal education and a degree in your name is your choice. They are not compulsory for your goal of doing business. The alternate choice you have in this regard is self-education. This means, (1) learning by doing, (2) starting right away in your entrepreneurial pursuit, rather than spending 3-5 years in having formal education and earning a degree, (3) reading important books on entrepreneurship, business and other specific areas of your interest, (4) developing important skills in entrepreneurship and business as you move ahead in this direction.

Important tips on decision-making:
1. The people in your life will advice you on many things. Choose to listen only the advice which will directly contribute to your entrepreneurial and business ambitions.

2. People, most often, don’t try to understand your dreams and goals in life when advising you about work and career. Following the advice of the people in your life is one thing, and following your dream is a separate thing. They are not always the same.

3. Be clear about your entrepreneurial and business pursuits. What is it that you are after really?

4. Make sufficiently sure that the path you choose in your entrepreneurial and business pursuits does in fact contribute to your goals. Doing this will decrease your chances of regretting about your choices later in life.

5. No matter what the people in your life advice you to do, once you make your decision, own it, take responsibility for making it, and accept to deal with the resulting consequences.

6. Many young people in the college-students age group desire to enjoy college life, fall in love and have romantic relationships. These are often the personal cravings for short-term gratification. If you are really serious about your entrepreneurial/business ambitions, engaging in these things most often holds you back from achieving your ambitions.

Chartered Accountancy course is all about becoming CA and having expertise on subjects like Taxation, Business Laws and Auditing. Developing expertise in these subjects is different from developing business and entrepreneurial skills.

Please share your views in the comment section below. If you think this article could be of help to the people in your CA-circle, please share this article with them.

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M. Ammar
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2 Comments

  • CA dropout
    February 4, 2017, 8:53 am

    The most helpful article i ever had in my life,i have appeared for ca cpt because my friends were doing it and later realised that its not the way i dreamed and completed cpt with 145 marks and dropped out ca after that stage. my dream is to become an entrepreneur and i my practicaly practicing and developing my plans even if people are distracting me. Thanks for your valuable article.

    REPLY
    • M. Ammar@CA dropout
      February 15, 2017, 7:50 am

      Hi there. Happy to see your courage and your decisiveness, also happy to know your dream of becoming an entrepreneur (this is one of my dreams as well 😉 ).

      However, your choice of dropping out of CA and pursuing entrepreneurship may not go well with the people in your life and it may not be without any challenges either. Anytime you find yourself in need of help, we’ll be happy to assist you on it.

      Ammar.

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