Things People Get Wrong About Chartered Accountancy

Chartered Accountancy is one of the well-respected professions in Pakistan. It is not surprising that a field that is so widely recognized is talked about a lot. Sometimes while discussing CA in Pakistan, people get many things wrong. 

For your ease, we have put together everything that people get wrong regarding CA. If any of these misconceptions are what is stopping you from pursuing the field of accounting, know that you still have a choice.

CA Is Only For Smart People

Many people think that to be a chartered accountant, you have to be very smart. This is not true. The most successful chartered accountants are hard-working people. This is because the certification is very demanding. Only when you are willing to put in a good amount of time to study for it would you be successful. Moreover, this perception is what discourages many aspirants. If you are thinking of doing CA, you should keep in mind that the degree is not easy. However, if you are willing to put in the right amount of effort, then you can easily pass all exams. 

You Need To Be Good At Math

Another thing that people get wrong about CA is that to be a CA student, you have to be good at math. Many skills are tested out when you are studying for your examinations. The best CA institutes in Pakistan work on building analytical ability, understanding of finance, and knowledge of different business activities. Math is an important subject that will be tested out; however, it is not the only thing that you will need. 

As a result of this misconception, a lot of people who do not have a very strong background in math think they will not be able to complete the degree. Everyone thinks that commerce students would have an edge over them. This is just a myth and students belonging to all different academic backgrounds have an equal chance of performing well on the exams. 

There Is No Difference Between CA And ACCA

People assume that CA and ACCA in Pakistan are somewhat the same since they both have a certain number of exams you have to pass, and they both offer you proficiency in accounting. While both of them are internationally recognized, there are some major differences between the two. 

To begin with, ACCA has 14 exams whereas a CA student has to clear 21 exams. They also have varying percentages of students who pass these exams. Even though both the certifications open many roads for you career-wise, it is important to be able to differentiate between the two. 

Limited Role In Decision Making

A lot of times it is thought that Chartered Accountants have a very limited role when it comes to the corporate sector. It is a general belief that they stick solely to overlooking the accounting side. This is not true because their degree teaches them all-important business knowledge and they know how to deal with financial problems. Since they can look at numbers and can easily make derivations from them, accountants are almost always included in the company decision-making process. 

If you want to become a chartered accountant, the best advice we can give you is to not believe everything you hear about the certification. Even though it is tough and requires a lot of effort, the best way to learn about it is by studying it yourself.