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Chartered Accountancy (CA)

Course overview

This course gives you an insight on methods dealing with the big corporate houses. Chartered Accountancy is a dynamic, challenging and rewarding profession. Chartered Accountants are industrious and intelligent beings.  All the countries have their own Accountancy Association which regulates the quality and quantity of these professionals. In India it is the Institute of Chartered Accountants of India, ICAI which does the job of regulating the profession of Charted Accountancy. It was set up under the Chartered Accountancy Act of 1949. 

Why a CA?

A Chartered accountant specializes in accounting, auditing and taxation. He also serves as a management and corporate caretaker. The services of a CA is required in money matters even in a small business. A chartered accountant is a person who is accepted as a member of the Institute of Chartered Accountants of India (ICAI) after having passed the Final examination of the Chartered accountancy course conducted by the institute. 

What can a CA do for your career?

Chartered Accountancy is a profession which comes in the top options for finance in India because of the growing demand and practical exposure it provides. The areas which are dealt with in this profession are taxation, corporate finance, project evaluation, business & corporate low, auditing, accounting practice. The functions performed by a CA are:

  • Analyzing risk and design of efficient financial systems
  • Tax advice and Planning
  • Stakeholder value creation
  • Creating and finalizing the annual reports and balance sheets.

Leading colleges for CA

All aspiring CAs have to obtain membership as student with ICAI. The ICAI has several branches all over the country

  • Bangalore branch of S.I.R.C of I.C.A.I, Bangalore
  • Baroda branch of W.I.R.C of I.C.A.I, Gujarat
  • Bhopal branch of C.I.R.C of I.C.A.I, Madhya Pradesh

Most students who enroll for the course attend private training institutes for additional coaching for clearing the exams which are considered not very easy to clear.

Course Content

The three levels of examinations are foundation course, intermediate course and final course.

Subjects covered in foundation course are

Section I

  • Fundamentals of Accounting
  •  Mercantile Law

Section II

  • Maths and Stats 
  • Economics.

Subjects covered in intermediate course are

  •  Advanced Accounts
  • Management Accounting
  • Auditing 
  • Company Law

After 3 years of articleship one is eligible for taking the final exams having 8 papers.

Group I

Financial Reporting

Strategic Financial Management

Advanced Auditing and Professional Ethics

Corporate and Allied Laws

Section A: Company Law

Section B: Allied Laws

Group II

Advanced Management Accounting

Information Systems Control and Audit

Direct Tax Laws

Indirect Tax Laws

Central ExciseSection B: Service Tax & VAT

Section C: Customs

Course Fee

The fee structure for the full CA course is as under.

Registration of CPT: Rs. 1500    

Tuition fee (to the institute): Rs. 7500

  • Registration as a audit clerk: Rs. 500
  • Students association fee:    Rs. 500
  • Registration fee with BOS:    Rs. 500
  • Tuition fee for PCC:               Rs. 4000
  • Registration fee for 100 hrs of IT Training: Rs. 2000.
  •  After qualifying the second stage, the final course fee is Rs. 8500 which is to be paid for the last year of the CA studies. The total fee for the whole course comes to Rs. 17,500.

Application process

A student who aspires to be a CA must clear the Competency Professional Test (CPT) which is an objective type test of 200 multiple choice questions. CPT covers four basic subjects viz. Fundamentals of Accounting, Mercantile Laws, Economics and Quantitative Aptitude. A person can register for CPT after completing 10th
 and take the exam after completing 12th.

Candidates who have completed B Com with not less than 50% marks and candidates who have completed graduation in the non-commerce stream without mathematics securing not less than 55% of marks or candidates who have completed graduation with mathematics and securing not less than 60% marks are exempted from taking the CPT test. They can register for the Professional Competency course otherwise called as PCC, which is the second stage of CA. Candidates who have completed final CWA can apply directly for PCC, also called as IPCC.

Is it suitable for me?

This course is right for you, if you have a logical and methodical approach to work, are attentive and alert, are good in general accounting and number crunching, are patient and confident to handle responsibility. To be a successful chartered accountant you must possess great business acumen, independence in decision making, integrity of work and the ability to work under pressure to meet deadlines.

Fintotal Insight

CAs are in huge demand in the economy. A CA with 2-3 years of experience earns well. Some CAs prefer to set up independent professional practice instead of taking up a suitable position in business or industry or capital market. You may also like to consider joining a practicing firm of Chartered Accountants or engaging in your own industrial/business venture.

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