Chartered accountant course offers a career that involves auditing financial statements, accountancy, tax returns, investment records, and financial assessments for individuals and businesses. Chartered Accountancy Certification is a professional designation earned by passing three exams: CA Foundation, CA Intermediate, and CA Final.
A chartered accountant is a title given to someone who has been certified as a chartered accountant by a statutory organization that has determined that they have the necessary knowledge and skills. The Institute of Chartered Accountants of India (ICAI) offers certification to become a chartered accountant in India.
Admission Open For
- LPU University 2022 Application Open. Apply Now >
- Manav Rachna University 2022 Application Open. Apply Now >
- MIT Pune 2022 Application Open. Apply Now >
What is ICAI?
The Institute of Chartered Accountancy of India (ICAI) is one of India’s major official accounting bodies. It was established by the Indian government and falls under the Ministry of Corporate Affairs’ jurisdiction. On July 1, 1949, the ICAI was established. The Indian Parliament formed it as a statutory organization under the Chartered Accountancy Act of 1949.
The ICAI, a worldwide recognized organization, offers a Chartered Accountancy course. Students must meet specific eligibility requirements in order to be admitted to this programme. There are also several entrance examinations that every applicant must pass in order to be admitted to this programme. The CPT, or Common Proficiency Test, is the program’s entry level admission exam, which is held twice a year in June and December.
Why should you pursue a chartered accountant course?
There are a variety of motivations for pursuing a CA degree and becoming a chartered accountant. Take a look at the bullet points below for further information. You should think about becoming a chartered accountant since it is a distinctive profession that offers the following benefits.
- Chartered accountants are in high demand by a variety of businesses, including banks, financial institutions, and corporations. As a result, Chartered Accountant candidates have a wide range of job opportunities.
- CA certificate holders can also create their own auditing firm and provide auditing solutions to their customers.
- The beginning salaries for the candidates range from INR 5,00,000 to INR 25,00,000 per annum.
- Depending on the candidates’ skills, it might increase up to INR 75,00,000 per year once they’ve gained experience.
- The CA is usually regarded as a respected profession with highly qualified individuals.
- Because the Chartered Accountant tests are so difficult to pass, only a few people can become CAs. However, there is a big need. As a result, it is a profession with fewer people but higher demand.
- Students with a CA certificate can work in the public sector, the private sector, and in their own businesses.
How to become a Chartered Accountant in India?
Following the completion of several phases, a candidate is certified as a Chartered Accountant. Candidates in this field investigate ways to manage a company’s financial liability.
Students must complete various processes to become a CA, including meeting qualifying conditions, enrolling for and earning the required degree, and so on. Check out the steps in the following section.
- Step 1: Students must fill out the application form and register for the CPT exam, commonly known as the Foundation Course. This exam can be taken while students are still in school.
- Step 2: Candidates must complete the IPCC Program, also known as the Intermediate Program, after finishing the foundation course. To be qualified, students must complete their class 12 exams.
- Step 3: Students must complete a CA articleship after completing the IPCC course. This is a three-year internship under the supervision of a chartered accountant. This is an opportunity for them to experiment with accountancy under the supervision of an experienced Chartered Accountant.
- Step 4: The final stage toward earning a certified Chartered Accountant is to complete the CA final course and pass the tests. Students are required to register for the course while they are in the middle of their internship.
Students can enrol in the CA course by taking one of the CA tests, which are offered at several levels. The foundation exam, intermediate exam, and final exam are among them. The ICAI usually administers these three tests in May and November.
Students can also examine the CA course’s straight route. Business graduates must have a minimum aggregate score of 55 percent and have studied disciplines such as Accounting, Corporate Laws, Mercantile Laws, Auditing, Economics, and other fields of commerce to be eligible for this admission.
Direct admittance is also available for non-commerce graduates, however they must have a requirement of 60% cumulative scores from a reputable education institution.
CA Foundation Course
The Course curriculum, provided by the ICAI, is the entry – level position curriculum for this particular curriculum. It was previously known as the Common Proficiency Test and is undoubtedly the most well-known course in the field of Chartered Accountancy. For this course, see the qualifying requirements, curriculum, books, and crucial exam dates listed below.
CA Foundation Course Eligibility
The prerequisites for the CA foundation course are as follows:
- Students who have passed their 10 and 12 grade examinations from a reputable educational institution.
- Additionally, they must achieve a minimum of 50% aggregate in their 12th grades.
- The CA course curriculum is open to students of all ages.
CA Foundation Course: Syllabus
In the table below, you can see which subjects are covered in the CA Foundation curriculum.
|Paper 1 (Principles And Practice Of Accounting)||Paper 2 (Business Laws And Business Correspondence & Reporting)|
|Accounting Process||The Sale of Goods Act, 1930|
|Inventories||The Indian Contract Act, 1872|
|Theoretical Framework||The Limited Liability Partnership Act, 2008|
|Bank Reconciliation Statement||The Indian partnership act, 1932|
|Concept of Accounting of Depreciation||The Companies Act, 2013|
|Final Accounts of Sole Proprietors||Sentence Type|
|Accounting for Special Transaction||Vocabulary Root Words|
|Introduction to Company Accounts||Prefixes|
|Financial Statements of Not-for-Profit Organization||Synonyms and Antonyms|
|Basic Accounting ratios (Solvency, Profitability, liquidity and turnover)||Phrasal verbs, Suffixes, Collocations and Idioms|
|Comprehension Passages, Note Making|
|Introduction to Basic Writing, Article Writing, Precis Writing, Report Writing|
|Writing Formal Mails, Writing Formal Letters, Meetings, Resume Writing|
|Paper 3 (Business Mathematics, Logical Reasoning And Statistics)||Paper 4 (Business Economics and Business & Commercial Knowledge)|
|Equations and Matrices||Introduction to Business|
|Ratio and Proportions, Indices and Logarithms||Introduction to Business Economics|
|Linear Inequalities with Objective Functions and Optimization with respect to Objective Function||Theory of Production and Cost|
|Permutations and Combinations||Theory of Demand and Supply|
|Sets, Relations and Functions||Business Cycles|
|Time Value of Money||Price Determination in Different Markets|
|Sequence and Series||Business Environment|
|Basic Application of Differential and Integral Calculus||Government Policies for Business Growth|
|Statistical Description of Data||Business Organizations|
|Probability||Organizations Facilitating Business|
|Theoretical Distributions, Correlation and Regressions||Common Business Technologies|
|Measures of Central Tendency and Dispersion|
|Index Number and Time Series|
CA Foundation Course: Marking Scheme
The CA foundation curriculum examination follows a specified marking scheme.
|For Right Answer||+1|
|For Wrong Answer||-0.25|
The CA Intermediate curriculum, often known as CA Inter, is the second level of the Chartered Accountancy programme. The course is divided into two groups, each with four subjects. To be qualified for this programme, candidates must complete the CA Foundation course. Below you’ll find information on the course’s eligibility, syllabus, books, marking method, and crucial dates.
CA Intermediate Eligibility
According to the CA intermediate course qualifying requirements –
- Student must submit the CA foundation programme as well as pass the CA foundation test.
- They must also have completed their bachelor’s or master’s degree with an overall score of 50 percent to 60 percent.
CA Intermediate Syllabus
In the table below, you’ll find the subjects covered in the CA Intermediate core curriculum.
|Group 1||Group 2|
|Corporate and Other laws||Financial Management Economics for Finance|
|Taxation||Auditing and Assurance|
|Cost and Management Accounting||Enterprise Information Systems and Strategic Management|
CA Intermediate Marking Scheme
Candidates must finish each paper in 3 hours according to the CA Intermediate scoring structure. There will be a total of eight papers, each worth 100 points. The test will consist of objective questions with no negative marking. Both English and Hindi are used in the exam.
|No of Papers||8|
|Languages||Hindi and English|
|Time for each paper||3 Hours|
The CA Final, also known as Chartered Accountancy Final, is the program’s final level. Students must pass both Group I and Group II of the CA Intermediate curriculum to be considered for this programme. They must also complete a 2.5-year practical training programme. For this curriculum, see the qualifying requirements, syllabus, books, marking scheme, and crucial dates listed below.
CA Final Eligibility
The CA Final program’s qualifying criteria say that –
- Students must pass the intermediate course exam in both groups.
- In addition, candidates must complete a four-week Advanced Integrated Course in Information Technology and Soft Skills. This includes advanced information technology modules as well as managerial communication skills, which should be completed within the last two years of practical training and prior to the final test.
What is Articleship in CA?
After completing the CA-IPCC course, students must complete an articleship in Chartered Accountancy, which is a separate course in this programme. The sole barrier that the students will face during this articleship curriculum is deciding on the ideal location for their articleship.
CPT students must pass both groups in the IPCC course in order to be eligible for the CA articleship programme. Before beginning the CA articleship, participants must also finish 100 hours of ITT and the orientation programme. Direct admission to this programme requires a minimum of 55 percent to 60 percent overall in either a bachelor’s or master’s degree programme.
Top 20 CA Firms
Students who have completed the CA course frequently seek employment with the most prestigious chartered accounting firms. In the table below, you’ll find the top 20 accounting firms in India.
|KPMG||C. Vasudeva & Co|
|Ernst & Young (EY)||BDO International|
|RSM International||Grant Thornton International|
|Sahni Natrajan & Bahl (SNB)||Lodha & Co.|
|SS Kothari||Luthra & Luthra|
|Suresh Surana & Associates LLP||Desai Haribhakti|
|Sr Dinodia & Co. LLP||TR Chadha & Co.|
|Deewan PN Chopra & Co.||SP Chopra & Co. – P Chopra & Co.|
|Khanna & Annadhanam||S Aiyar & Co.|
A person can benefit from the Chartered Accountant Course in a variety of ways. Applicants are frequently promoted to higher positions in well-known firms. In the table below, you’ll find the finest employment for applicants with this Chartered Accountant Course.
|Job Profile||Job Description||Average Salary|
|Accounting Managers||Accounting managers are in charge of overseeing and managing everyday accounting activities. They keep track of accounting data and financial statements and analyse them. They also established sound accounting principles, procedures, and policies.||INR 686,609 per annum|
|Taxation Experts||Tax specialists or tax consultants look for ways to reduce their clients’ tax liabilities. They’re also in charge of calculating taxes on various investment portfolios.||INR 674,232 per annum|
|Accountants||Accountants verify the correctness of financial statements and ensure that they comply with all applicable regulations and legislation. They also take care of tax-related tasks.||INR 249,492 per annum|
|Auditing Experts||Auditing professionals assist auditors in obtaining adequate and suitable audit evidence. Internal auditors and external auditors are two sorts of auditing specialists with two different expertise.||INR 364,298 per annum|
FAQ’s for Chartered Accountant Course
The income of someone who has completed the Chartered Accountant Course varies depending on the work profile.
Chartered accountant – 7.25 lakhs per annum
Financial officer – 35 lakhs per annum
Assistant account manager – 5 lakhs
Financial analyst – 6 lakhs
The following are some of the greatest courses to take as part of a Chartered Accountancy programme:
CPA (Certified Public Accountants)
CIA (Certified Internal Auditor)
CFP (Certified Financial Planner)
ACCA (Association of Certified Chartered Accountants), etc.
Students can enrol in the CA programme after completing their 12th grade, and there is no upper age limit.
It is not necessary to have studied mathematics in 11th or 12th grade to pursue this course. Courses in arithmetic, economics, and accounting, on the other hand, are required to pass the CA exam.