Chartered Accountant Archives

Chartered Accountancy is one of the most preferred career options after 12th or Graduation for Commerce Students. The CA Course is divided into three levels i.e. CA Foundation CA Intermediate CA Final Students who wish to register for the course must know all the details regarding CA Course. This Chartered Accountancy guide will provide you with all details regarding the course, including Syllabus, Fee Structure, Procedure to become CA, Course Duration, and CA Salary in India. The Chartered Accountancy exam is conducted by The Institute of Chartered Accountants of India (ICAI). The exams are held twice a year, in May and November. The ICAI issues all the guidelines related to CA courses, like Syllabus, Exam Pattern, Registration, Eligibility guidelines, and Fee for the Exam. TABLE OF CONTENT CA Course Details What is Chartered Accountancy? How to Become CA in India? CA Course fees for Foundation, Intermediate, and Final CA Course Duration Eligibility Criteria For CA Course at Each Level Chartered Accountancy Course Registration Documents Required for CA Course Registration How to Register for CA Course? Chartered Accountancy Subjects Best Books for Chartered Accountancy Course Passing Criteria for CA Course CA Salary in India Scope After CA Course in India Trainings in Chartered Accountancy Course Skills Required to become CA Career Options For CA Frequently Asked Questions CA Course Details - An Overview Particulars Details Full-Form Chartered Accountancy Conducting Body ICAI Duration 5 Years Levels 3 Levels+ Articleship Degree Bachelor's CA Course Eligibility 50% in Class 12th CA salary in India 7-8 Lakhs Fees 3-4 Lakhs Job Role Accountant, Banker, Financial Manager, Consultor, Auditor Key Takeaway of the CA Course The Chartered Accountancy Course is divided into three levels i.e. CA Foundation, CA Intermediate and CA Final.To become a CA in India, you must pass all these three levels of CA, including three years of Articleship Training. Thus, it takes a minimum of 5 years for you to become CA after the 12th. Chartered Accountancy Course Details: Eligibility: 50% in Class 12th Fees: 3-4 Lakhs CA Salary: 7-8 Lakhs Job Role: Accountant, Banker, Auditor Etc Duration: 5 Years (Minimum) What is Chartered Accountancy? Chartered Accountancy (CA) is a profession that deals with accountancy, finance, taxation, law, and Auditing. A CA gives financial advice, audits accounts, and provides information related to the financial sector. Therefore, a CA is responsible for preparing auditing, and managing financial books every month. The job roles of a CA are Accountant, Banker, Financial Manager, Consultor, Auditor, etc. How to Become CA in India? To become CA in India, students need to go through the following steps: Register for CA Foundation Course Pass the CA Foundation Exam. Register for CA Intermediate Course. Pass any one single group of CA Intermediate. Enroll for Articleship training. Pass both groups of CA Intermediate Complete 3 Years of Article training. Register for CA Final Course. Pass Both Groups of CA Final. Apply for ICAI Journal Membership. CA Course fees for Foundation, Intermediate, and Final The total fee for CA Course for 5 years is Rs. 87,300 after class 12th and the total fee after graduation is Rs.76,200. CA Course fees Indian Student Foreigner Student CA Foundation ₹11,300 $1105 CA Intermediate- Single Group ₹28,000 $925 CA Intermediate- Both Group ₹34,200 $1500 CA Intermediate- Direct Entry ₹34,400 $1500 Articleship Fee ₹2,000 CA Final ₹39,800 $1650 Total ₹87,300 $4255 The total fee only includes the fee for the Registration and Examination form. Hence, the fee for Coaching is approx 2-3 lakhs for 5 years. CA Course duration Before joining the course, every candidate wants to know how much time duration the course will take to complete. The total duration of the CA Course is five years, and to become CA, students must pass all three levels with three years of articleship training. However, the total CA course duration after graduation is 4.5 years. The step-by-step procedure and CA Course duration after the 12th will be: Step 1: Timeline in Passing 12th to Clearing CA Foundation Level 4 Months (Mandatory Study Period in between registration and examination date is 4 Months) Step 2: Timeline in Passing Foundation level to pass Intermediate Level 8 Months (Mandatory Study Period between registration and examination date is 8 Months) Step 3: Timeline in passing CA Intermediate to passing finals 3.5 Years (Articleship is for three years and Study time period for Finals is assumed to be 5 Months) Eligibility Criteria For CA Course at each level Before registering for the CA Course, one must know the eligibility criteria for the course; if the candidates fulfill the eligibility criteria, then they can register for the CA Course. CA Foundation: For registering for the CA Foundation course, the student must have passed the Class 12th exam with a minimum of 50% in the commerce stream and with a minimum of 55% if the candidate is from the science stream. CA Intermediate: Students can register for the CA Intermediate course in two ways: Through the CA Foundation route: The candidate needs to clear the CA Foundation exam with a minimum of 50%. Through the Direct entry route: Students can enroll for CA Intermediate exam without taking the foundation exam through the direct entry scheme. The eligibility criteria for Direct entry scheme students are: Students who are Graduates/ Post Graduates in Commerce and secured a minimum of 55% can register directly for Intermediate without passing CA Foundation or CPT. Non-commerce Graduates/ Post Graduates can also register for Intermediate by securing 60% marks in Graduation/ Post Graduation. Apart from the above, the students who cleared the Intermediate level of the Institute of Cost Accountants of India or The Institute of Company Secretaries of India. 3. CA Final: For CA Final exam, students need to clear both groups of CA Intermediate and 2.5 years of articleship training. Chartered Accountancy Course Registration If the Students fulfill the eligibility criteria, then they can register for CA Course. Students need to fill out the registration form on ICAI official Website. The forms are oper around the whole year, but the deadlines are set.For the CA Foundation and Final Session, the last date to fill out the registration form for the May attempt is 1 Jan, and for the Nov session, it is 1 Jul. For the CA Intermediate May session, the last date is 1 Sept, and for Nov, the attempt is 1 Mar. Documents Required For CA Course Registration There are some documents that are required during the registration for CA Course, Check the list for documents required by CA Foundation: Class 10th Marksheet Class 12th Marksheet Passport Size photo Nationality Proof (Required for Foreign Students) CA Foundation Marksheet ( For CA Intermediate Registration) CA Intermediate Marksheet ( For CA Final Registration) Articleship Certificate ( For CA Final Registration) How to Register for CA Course? After you have arranged all the documents, it's time to know how to register for the CA Course. However, the CA Foundation is the first level, so apply for CA Foundation follow the steps below: Visit the ICAI official Website. Now, create a new account by entering your basic details, such as your name, contact number and Email. Now, verify the OTP sent in your mail and complete the verification process. Now you have your login credentials, so log in now using them, Afterward, click on "Apply for the foundation. Now the registration form will appear on your screen. Now, enter the required details and then click on next. Now, upload all the necessary documents. Click and Save Next. Lastly, Pay the registration fee. Hence, you are registered for the course. Therefore, for the CA Intermediate and CA Final, the same procedure is been followed. However, by the time you will register for the CA Intermediate and final all your details will be auto-filled, only you need to log in with the same Registration and ID and upload the different documents. Further, the fee for the CA Course registration: Course Registration Fee (Indian Students) Registration Fee (Overseas Students) CA Foundation Rs.9800 $780 CA Intermediate Rs.15000 (Both Groups)Rs.11000 (Single Group) $1000 (Both Groups)$600 (Single Group) CA Final Rs 22000 $1100 Chartered Accountancy Subjects As seen above the CA Course is divided into three levels i.e. CA Foundation, Intermediate, and CA Final. Download the Complete CA Syllabus for all three Subjects: CA Foundation Syllabus The CA Foundation syllabus is divided into 4 subjects, which include accounts, maths, law, and economics. Paper 1: Principles and Practice of Accounting Paper 2: Business Law and Business Correspondence and Reporting Part A: Business Law Part B: Business Correspondence and Reporting Paper 3: Business Mathematics, Logical Reasoning, and Statistics Part A: Business Mathematics Part B: Logical Reasoning Part C: Statistics Paper 4: Business Economics and Business Commerical Knowledge Part A: Business Economics Part B: Business Commerical Knowledge CA Intermediate Syllabus The CA Intermediate Syllabus is divided into two groups and Each group consists 4 subjects: Group 1 Subjects: Paper 1: Accounting Paper 2: Corporate and Other Laws Part A: Company Law Part B: Other Law Paper 3: Cost and Management Accounting Paper 4: Taxation Part A: Income Tax Law Part B: Indirect Taxes Group 2 Subjects: Paper 5: Advanced Accounting Paper 6: Auditing and Assurance Paper 7: Enterprise Information System & Strategic Management Part A: Enterprise Information System Part B: Strategic Management Paper 8: Financial Management and Economics for Finance Part A: Financial Management Part B: Economics for Finance CA Final Subjects & Syllabus The CA Final Syllabus consists of eight subjects which are divided into two groups and each group is comprised of 4 subjects: Group 1: Paper 1: Financial Reporting Paper 2: Strategic Financial Management Paper 3: Advanced Auditing and Professional Ethics Paper 4: Corporate and Economic Law Group 2: Paper 5: Strategic Management and Performance Evaluation Paper 6: Elective Papers Paper 6A: Risk Management Paper 6B: Financial Services and Capital Markets Paper 6C: International Taxation Paper 6D: Economics Law Paper 6E: Global Financial Reporting Standards Paper 6F: Multidisciplinary Case Study Paper 7: Direct Tax Law and International Taxation Paper 8: Indirect Tax Law Also check about, CMA Foundation, and CMA Intermediate Course Best Books for Chartered Accountancy Course There are a lot of Reference books on the Chartered Accountancy Course. However, it is suggested to the students use ICAI Study Material. But in case, if you want to use reference books then you can go for these books: CA Foundation Books Fundamentals of Accounting - D.G. Sharma General Economics - S.K. Agarwal Mercantile Laws for CA Foundation - PC Tulsian Quantitative Aptitude Mathematics with short Tricks - CA Rajesh Jogani Quantitative Aptitude - Dr T. Padma and KCP Rao Padhuka Basics of Accounting for CA Foundation - G. Sekar & b Saravana Prasth CA Intermediate Books First Lesson in Accounting Standards - MP Vijay Kumar A handbook on Corporate and Other Laws - Munish Padhukas Students Handbook on CMA - CA B. Sarvana Padhuka’s Students Handbook on Advanced Accounting - CA G. Sekar and CA B. Saravana Prasath Information Technology (IT) - Dinesh Madan CA Final Books Accounting Standards - D.S Rawat Accounting Standard & INDAs - CA Praveen Sharma SFM Module with Solution - Rahul Malkan Handbook - CA Munish Bhandari Passing Criteria for CA Foundation, Intermediate, and CA Final The passing criteria for all three exams are almost similar. To pass the CA Foundation Course the students must secure a minimum of 40% in Each subject and 50% aggregate. However, to pass the CA Intermediate and CA Final Exam, the candidate must secure 40% in Each subject, and 50% aggregate in Each group. CA Salary In India The average CA Salary for fresher in India is about 7-8 Lakhs and it rises up to 70 Lakhs according to experience and Skills. Moreover, the salary of a Chartered Accountant depends upon their experience, job roles, Knowledge, and their ranks. Further, to get a higher package, students must score a high rank in CA Final Exam. Furthermore, The students with the ranks in CA Final exam get priority and placement with a higher package. Check the Image below to know the CA Salary in India: You have seen the CA Course details after class 12th, now let's look at some of the job positions of CA. Also, Check CMA Salary in India Scope after CA Course in India in 2022 When it comes to the scope of Chartered accountancy, then this course has ample opportunities as the demand for the CA is increasing rapidly. Therefore, the primary reason for high demand is that there are fewer numbers of CA than required. Also, nowadays after the implementation of the new roles and taxation policy, the demand increases more. Further, the demand graph of the CA is always going to move in an upward direction. The CA in India can work in various sections such as: CA Firm Financial Institution Business Consultancy Firm Independent Practice Training in Chartered Accountancy Course Training is a compulsory part of the CA Course. It is the third stage of the course and without training, the student is not eligible for the CA Final Exam. There is a total of 4 pieces of training in the chartered accountancy course, which includes three years of articleship training. These trainings are: ICITSS Training AICITSS Training Articleship Training Industrial Training ICITSS Training ICITSS (Integrated Course on Information Technology and Soft skills) is the first training to develop the knowledge of Information technology and soft skills in students. This training is for one month, which includes 15 Days of IT Training and 15 Days Orientation Program. Articleship Training The Articleship training is a 3-year training program in which the students get practical knowledge and experience for the work of CA. The students are only eligible for the articleship training after passing any one group of the CA Intermediate. Also, to apply for the articleship training students must undergo the ICITSS Training. After completing three years of articleship training students can register for the CA Final course. AICITSS Training The ICAI offers a required training program called AICITSS, or Advanced Integrated Course on Information Technology and Soft Skills. You will learn two skills in this training: advanced IT and management and communication abilities. For each talent, 15 days are needed to finish. The primary goal of this program is to equip candidates with a variety of abilities, including communication, presentation, leadership, and business environment comprehension. As a result, this training aids CA students in landing their dream jobs. Industrial Training In order to provide candidates with industrial understanding and functioning, industrial training is optional for CA aspirants. Therefore, individuals who are interested in developing their careers in the industry might choose ICAI's industrial training programme. This training course is optional and subject to the candidates' preferences. Skills Required to Become CA Candidates for chartered accountant jobs should possess the following abilities: Good Communication Analytical Skills. Confidentiality Ethics Honesty and Accountability Ability to constantly learn new things Career Options for CA A candidate who has passed the CA Examination is eligible for the following job opportunities. However, there are different sectors related to finance and taxation. So, there are various career options for them. Chartered Accountant Financial Manager Financial Advisor Financial Analyst Auditor Internal Auditor Public Accountant Cost Accountant Government Accountant Taxation Expert Accounting Firm Manager Frequently Asked Question - CA Course Details Q1. What is the duration of the CA Course? Ans: The total duration of the CA Course after class 12th is 5 years. Q2. What are the subjects in CA? Ans: In CA the students will have different subjects at each level, namely, Accounts, Maths, Law, Tax, Audit, and Costing. Q3. Is CA a three Years course? Ans: No, the minimum course duration is 4.5 years. Q4. How difficult is CA? Ans: CA is considered to be the most difficult exam of all. At each level of the course the difficulty level increases. But one can easily pass the exam through hard work. Q5. What is the Qualification of the CA Course? Ans: You must receive a passing grade on your class 12th exam in order to be eligible for the CA Course. Graduates with a background in business must receive at least a 55% grade, while those with a background in science must receive at least a 60% grade.