National Accounting Day in India
International Accounting Day is celebrated every year on 10th November. It is the day dedicated to accountants, so, they have a professional holiday on this day. However, different countries have chosen their own day to celebrate accounting day.
If we talk about India then we find, India celebrates its Accounting day on July 1st every year, actually its Chartered Accountants Day (CA DAY) celebrated each year in India on 1st July as the Chartered Accountants Act, and 1949 was come into force on 1st July, 1949. This Act provides a detail rules and regulation to be followed by Chartered Accountants in India who were known as Registered Accountant before enactment of this Act. The main role played in celebration of Chartered Accountants day is of The Institute of Chartered Accountants of India (ICAI) which is the regulatory body of accounting profession in India established on 1st July, 1953 as a body corporate under the Chartered Accountants Act, 1949. ICAI is the Second Largest professional accounting body in the world and involved in framing detailed rules and regulations for accounting and auditing in India as well as it participate in formulation of various financial and economic policies with government agencies like RBI, SEBI etc in India.
CA Day celebrated on ICAI Head Office as well as on all regional and branch offices in India. Cultural programs, various kind of social contribution like blood donation, games, and discussions on future plans of ICAI etc. are the part of celebration.
Profession of CA is being considered as one of the most reputed professions and CA course is one of the toughest courses in India.
A chartered Accountant in India is being considered as an expert of business and especially of finance field. So, they are the key personnel for any organization. A CA has a place of an expert because of their vast knowledge and experience supported by hefty course of study containing different business related subjects and detailed practical exposure of variety of industries which have duration of 3 years.
Data of members registered with ICAI as on 01/04/2011
FELLOWS : In Full Time Practice 54997
In Part-time Practice 3164
Not in Practice 10813
ASSOCIATES : In Full Time Practice 21456
In Part-time Practice 5001
Not in Practice 75179
TOTAL MEMBERSHIP 170610
(Source of data: www.caclubindia.com)
Here, ASSOCIATES Members are those Chartered Accountants who are qualified and registered with ICAI and they can apply for Fellow membership status after continuously working in an organization or practicing in India and by fulfilling certain rules and guidelines up to 5 Years.
In brief, Chartered Accountants are the professionals who are like back bone for industries and economy not only in India but for any country and CA Day is dedicated to them for their invaluable contribution.