Can Qualifying as a Chartered Accountant Transform your Life, Beliefs & Finances?
What are the career benefits of becoming a Chartered Accountant?
In fact: In today’s article, Kamlesh Lalwani shares with us how qualifying as a Chartered Accountant transformed his life for the better. From living in a tiny house, Kamlesh went on to purchase a two-bedroom apartment and helped his family live a better life.
His main goal of sharing his journey is – To help others in similar situations by making them believe that everything is possible!
Presently Kamlesh is a Manager in Accounts & Taxation at Shapoorji Pallonji Group (Real Estate Division).
Becoming a Qualified Chartered Accountant Amidst all Difficulties
I am Kamlesh Lalwani from India (Ulhasnagar).
I grew up in a very poor family with my mother struggling to make ends meet.
My father was an alcoholic and he expired when I was 8 years due to excessive drinking. So the burden of raising and providing for us was on my mother.
We received very little support from our extended family.
My MOM fought with each and every challenge which came our way. She worked in peoples homes to feed and educate us, she was adamant that we (my brother & me) CONTINUE WITH OUR STUDIES and WE DID.
She knew the only way out for us from this situation was to get educated. Even I knew studying was one way to take me and my family out of this HAND TO MOUTH life we were living in.
Whatever I am today is because of my Mother. She knew the importance and POWER OF EDUCATION.
Growing up we could afford to go to an English medium school (so in India most schools are in English medium but there are few schools which cater to those with less finances and they are not in English).
So my brother and I studied in a Sindhi medium school in my hometown, Ulhasnagar. Sindhi is a regional language of the Sindhi community.
After my graduation, I was confused as to what should I do. That is when I decided to study further and become a Chartered Accountant.
So I decided to pursue CA only after my graduation. Usually, students start pursuing CA after class 12.
To be a Chartered Accountant from ICAI, one needs to clear 3 levels of exams:
- CPT: First level. You have to give this exam if you register for the CA course before graduating. Since I was a graduate I directly had to give only the next two levels.
- IPCC: Second level exam. This consists of 2 groups – Group 1 & 2. Each group has 3/4 subjects.
- CA Final: Last level of CA exam and has again 2 group – Group 1 & 2. Each group has 3/4 subjects
- 3 years of articleship training: This starts after you clear IPCC, either both groups or anyone of them.
IPCC Journey and Starting my Articleship
I cleared CA – IPCC in two attempts.
The first attempt when I failed, I almost dropped out of CA. It was painful to redo it.
More than painful, it was frustrating. However, I knew GIVING UP WON’T HELP so I started studying again like a Roaring Tiger.
I studied for 7- 8 hrs a day with all my dedication.
I also had to do my articleship for 3 years (since I was a graduate I could start with my articleship before clearing IPCC exams).
So I would work all day long at a CA Firm and then late evening I would also work as an Accountant at another place.
I had to this to support my family financially. It was very tough, but I knew this was only for a few years until I qualified as a Chartered Accountant.
CA Final Journey
After clearing CA Level 2 exams (IPCC) and almost completing my articles it was time for CA Final exams. This exam has two groups – Group 1 & Group 2.
I knew I couldn’t give both groups together as I was working and studying. So I decided to give one group at a time.
For all those who have lots on their hand, ONE GROUP at a time can really help. I knew I had to stop being obsessed about GIVING BOTH GROUPS if I could MANAGE ONLY one group at a time.
I worked very hard and maintained the RIGHT ATTITUDE throughout.
When I would watch TV/ waste time my brother would remind me that I had to study, all this kept me on track. So stay focused.
I cleared my CA Final as planned one group at a time.
I was now a qualified Chartered Accountant.
I always say – If I CAN become a Chartered Accountant (CA) anyone CAN.
How Qualifying as a Chartered Accountant Transformed my Life
Earlier my relatives looked down upon us however after becoming a CA, things began to change. I started getting respect from my relatives.
We suddenly rose from a lower category to a higher category in the minds of everyone around us.
I became THE HERO of my family and my Mom a SUPERMOM.
So my advice to everyone is Do not worry too much about society, people, relatives, etc, etc. Just give your best and have faith.
Finding a job opportunity after qualifying as a CA
Next came the second biggest challenge of getting a Job. I was rejected by so many companies because of my POOR ENGLISH.
I studied in a Sindhi medium school so my spoken English is not very good. And most companies prefer employees who speak fluently in English.
I had given 50 plus interviews continuously for 4 months and was frustrated. At times, I used to think that I wasted my time becoming a Chartered Accountant.
However, if you do not give MAGIC happens and it did for me.
After 4 long months, I was selected in a well-known Corporate – Shapoorji Pallonji Group (Real Estate Division) as Deputy Manager of Accounts & Taxation.
Career Benefits of Pursuing Chartered Accountancy
I still find myself in an unbelievable situation. In fact, recently I bought my own house.
All this has been POSSIBLE because I studied and did my Chartered Accountancy.
CA literally took me out of poverty and from a one-room kitchen to a two-bedroom apartment.
And I can proudly say my mom is a housewife now and she is no longer working in people’s homes.
In my opinion, the career benefits of becoming CA are:
- Open Doors to various career choices: As a CA I am not restricted to only Audit or Tax, I can branch out into different fields. The journey study syllabus covers quite a few subjects and topic including Law. A CA can work as a consultant, SAP specialist, and setup own practice, the chances in this particular field is infinite.
- Demanding Career Choice: A CA is always in demand. Everyone is looking for a good CA who can keep their financials healthy. They have better job prospects with lucrative pay packages.
- Commands Respect: Earlier my relatives would consider my family stupid. And after I qualified as a CA their perspective towards us changed. A CA surely commands respect.
- Gives you Financial Freedom: I am able to transform my life just because of my degree.
These are just a few but there are a lot more benefits.
Every person who struggles to become something tends to ask God “WHY ME?? I did too but only to understand the fact that STRUGGLE is a part and parcel of everyone’s life.
So as long as there is life there is going to struggle.
I have also written a novel ‘No Mercy – Presence of Above Hit Me’. It is a fictional love story.
No Mercy is not about showing No Mercy on someone, its all about kicking life back by showing no mercy when life kicks you. The only way to do it is to stand up with every fall with the INTENTION to succeed.
Now It’s Your Turn…
There are two kinds of people in this world- One who is least bothered about their life & the second one who want to live a better life. I CHOSE TO BE in the second category.
What CHOICE are you making today?
Share your choice in the comment below.
You can also connect to me on LinkedIn – Kamlesh Lalwani.