Heard a lot of C.A. but still not enough? Aspire at the rescue! C.A. is becoming a well-pursued course by finance enthusiasts, so let's dive down and learn more about this much-reputed course.
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ALL ABOUT C.A.
Chartered Accountancy is a professional practice of accounting, auditing, taxation and financial assessment for an individual or organisation.
Chartered Accountant is a designation given to an accounting professional who has received certification from a statutory body that he/she is qualified to take care of the matters related accounting and taxation of a business. It includes filing tax returns, auditing financial statements and business practices, maintaining records of investments, preparing and reviewing financial reports and documents, etc.
To become a Chartered Accountant, the candidate has to go through a process of training and clear exams at various levels, conducted by the Institute of Chartered Accountants of India (ICAI).
Eligibility Criteria for CA Foundation Route:
The candidate must have passed Class 12 and completed four months of study period after CA registration to be able to appear for Foundation examination.
The candidate needs to register with Board of Studies and complete four months of study period.
Eligibility Criteria for CA Direct Entry Route:
For direct entry to CA Intermediate course, the candidate must fulfil the following eligibility criteria:
In this entry route, graduates/postgraduates from Commerce stream with at least 55 per cent aggregate or equivalent score can apply. However, they must have studied Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing, Business Administration or Management Accounting or similar to the title of these papers with different nomenclatures.
Graduates/postgraduates from non-commerce must have secured a minimum of 60 per cent aggregate or its equivalent grade in the examination conducted by any recognized University (including Open University).
Direct Route entry is also open to candidates who have passed Intermediate level examination conducted by The Institute of Cost Accountants of India or by The Institute of Company Secretaries of India. Such candidates are exempted from qualifying Foundation and can register directly to Intermediate course.
Candidates in their final year of graduation can also register for the Intermediate course on a provisional basis. Registration of such candidates would be regularized only on submission of final year mark-sheet or passing certificate within six months from the date of appearance in the final year graduation examination and on successful completion of ICITSS (Orientation Course and Information Technology). During the provisional registration period, a candidate can undergo and complete ICITSS (Orientation Course and Information Technology).
CHARTERED ACCOUNTANCY SKILL SET
The job of a Chartered Accountant is one of the toughest ones in the world of business. The responsibility of company’s financial health is largely depended on its CA’s competency, for he/she not only advises the client on financial matters but also detects and prevents fraud and financial irregularities. To be able to handle this ultra-sensitive aspect of business, the CA must possess the following skills:
Ethics and Professionalism
Eye for Detail
Objective and Rational
Critical Thinking Ability
ABOUT ICAI CA EXAM
In India, the ICAI conducts CA exams and certify a candidate as a qualified Chartered Accountant on successful completion of the three-level course. Examinations that are conducted during the Chartered Accountancy course are:
CA Foundation Examination (earlier known as Common Proficiency Test or CPT)
CA Intermediate (Integrated Professional Competence or IPC) Examination
CA Final Examination
Common Proficiency Test or Foundation exam is the entry level test for CA course, followed by Intermediate and Final examination.
CA Foundation, Intermediate (IPC)E & Final examinations are conducted twice a year, in May and November.
CHARTERED ACCOUNTANCY: COURSE AND SYLLABUS
The CA course is divided into three levels: CA Foundation, CA Intermediate and CA Final Level. Below are the papers covered at each level and marking schemes (officially known as skill assessment) of education and training at all levels of CA courses:
Syllabus of C.A. Foundation
Syllabus of C.A. Intermediate
Syllabus of C.A. Final
OTHER POINTS TO REMEMBER
The well-reputed CA coaching institute charge approximately 2 lakhs to 2.5 lakh for the total CA course. You can also take classes for particular levels or subjects according to your choice.
The reattempt to examination adds more cost to the fee structure.