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Chartered Accountancy - Courses, Subjects, Eligibility, Exams, Scope & Careers

21 January,2023  |  By Brainwonders

The title of Chartered Accountant recognises individuals who are professional experts in the field of auditing, accounting, financial evaluation, and taxation. These professionals can provide invaluable assistance in helping businesses and organisations stay compliant with their taxes and other financial regulations. To become a Chartered Accountant, one needs to complete an education and training program which can be done through either the Foundation Course Route or the Direct Entry Route. 

The journey to achieve this prestigious qualification involves completing three levels of training set out by the Institute of Chartered Accountants of India (ICAI). For those already in Class 12th, there is the Foundation Course, while graduates can take the Direct Entry Route.

Through Chartered Accountancy, you'll have a lot of opportunities to make a difference. From filing tax returns, to auditing financial statements and business practices, to registering businesses with the government - the world of finance is yours for the taking. 

Chartered Accountancy (CA) Eligibility Criteria

Eligibility Criteria for CA 

Before you can appear for CA, there are a few requirements you must first fulfil. 

  • Students applying for CA should have completed 10+2 examinations.
  • Students should keep in mind that they need to complete four months of studying before they're eligible to take the CA foundation exam.
  • Students should also get themselves registered with the ICAI board of studies and complete a four month study period.

Eligibility Criteria for CA Direct Entry Route:

For direct entry to CA Intermediate course, the candidate must fulfil the following eligibility criteria:

  • Students who have completed their graduation or post-graduation must score at least 55% aggregate marks. Additionally, their subjects must include subjects like Accounting, Auditing, Mercantile Laws, Economics, Management, etc.
  • Students not from commerce fields need to score at least a minimum of 60 percent aggregate marks to qualify for the exam.
  • Students who have passed the Intermediate Level examination conducted by the Institute Cost Accountants of India are allowed for Direct Route entry. These candidates can avoid qualifying foundation and register directly for the Intermediate course.

The process to become a Chartered Accountant.

  1. CA Foundation: Students who have appeared for the Class 12 exams and those who are appearing for the 12th examination can appear for this exam. Graduates and Postgraduates are not allowed to give the examination.
  2. CA Intermediate: After completing the CA course, the student must prepare for the Intermediate Stage of CA. Students who have completed their graduation and post-graduation can gain direct entry into CA through Intermediary courses.
  3. Articleship training: Students can move into the next round by completing articleship training after they have cleared their CA intermediate course. This is done for students to get exposure from different companies.
  4. CA Final: This is the last stage of the course. Students need to clear the GMCS and ITT exams. Candidates can register in the ICAI as Chartered Accountants after clearing the CA final course. 

Chartered Accountancy Skill Set:

The job of a Chartered Accountant is one of the toughest ones in the world of business and finance. To be able to handle this the CA must possess the following skills:

Skill Set for Chartered Accountancy Aspirants
Business Awareness Analytical Skills
Communication Skills Teamwork
Ethics and Professionalism Eye for Detail
Objective and Rational Critical Thinking Ability

 

What is the ICAI CA Exam?

For India's aspiring chartered accountants, the Institute of Chartered Accountants of India (ICAI) offers an invaluable opportunity to become certified professionals. Through a rigorous three-level course, the ICAI ensures that qualified candidates are prepared to take on the world and succeed.

 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 the CA course, followed by the Intermediate and Final examinations. CA Foundation, Intermediate (IPC)E & Final examinations are conducted twice a year, in May and November.

Chartered Accountancy Course Process to Earn CA Certification

Steps under CA Foundation Route entry

Given below is the process of CA Foundation route entry for pursuing a Chartered Accountancy course from ICAI:

  1. Register with the Board of Studies (BoS) after appearing in or clearing the Class 12 examination.
  2. Complete four months study period (bi-annual registration: till June 30/ December 31).
  3. Appear for the Foundation examination in May/November.
  4. Qualify CA Foundation course.
  5. Register with the BoS for the Intermediate course.
  6. Complete eight months of study course.
  7. Appear and pass in either or both groups of the Intermediate course.
  8. Complete a four-week integrated course on Information Technology and Soft Skills (ICITSS) any time after registering for the Intermediate course but before the commencement of the PractiTrainingning.
  9. Register for three-year practiTrainingning on passing either or both the Groups of the CA Intermediate course.
  10. Register for the CA Final Course after qualifying for both the Groups of Intermediate Course.
  11. Completed Four Weeks of Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) during the last two years of PractiTrainingning before appearing for Final Examination.
  12. Appeared in Final Examination during the last six months of practiTrainingning.
  13. Complete practiTrainingning.
  14. Qualify both groups of the CA Final course.
  15. Become an ICAI member.

Steps under Direct Entry Scheme CA Intermediate

Given below are the two processes of Direct Entry route at Intermediate level to pursue Chartered Accountancy course from ICAI:

Eligible Graduates and Postgraduates

  • Qualify for CA Intermediate level. 
  • Register with the BOS for the Intermediate course.
  • Register for the three-year Practical Training. Complete the four-week ICITSS before the commencement of the Practical Training.
  • Appear in the CA Intermediate examination after nine months of Practical Training.
  • Register for the CA Final Course after qualifying both groups of the Intermediate course.
  • Completed four-week AICITSS during the last two years of practical Training before appearing for CA Final examination.
  • Appeared in CA Final examination during the last six months of Practical Training.
  • Complete Practical Training.
  • Qualify both groups of CA Final.
  • Become a member of the ICAI.

Steps under Direct Entry Scheme for students who have passed Intermediate level examinations of the ICAI

  • Register with the BoS for the Intermediate course.
  • Complete eight months of study course.
  • Appear and pass in either or both groups of CA Intermediate.
  • Complete the four-week ICITSS any time after registering for the CA Intermediate course but before the commencement of the Practical Training.
  • Register for three-year Practical Training on passing either or both the groups of the Intermediate course.
  • Register for the CA Final course after qualifying both the groups of CA Intermediate level.
  • Complete four-week AICITSS during the last two years of Practical Training but before appearing for CA Final examination.
  • Appeared in CA Final examination during the last six months of Practical Training.
  • Complete Practical Training.
  • Qualify both groups of CA Final level.
  • Become a member of the ICAI to be eligible to start practice as a certified Chartered Accountant.

Syllabus of CA Foundation Course

Given below is the table indicating subjects and topics included in the four papers of CA Foundation course:

CA Foundation Paper CA Foundation Course Syllabus
Paper 1 Principles and Practice of Accounting

 

Paper 2  Business Laws & Business Correspondence and Reporting
  • Section A: Business Laws
  • Section B: Business Correspondence and Reporting
Paper 3 Business Mathematics and Logical Reasoning & Statistics
  • Part 1: Business Mathematics and Logical Reasoning
  • Part 2: Statistics
Paper 4 Business Economics & Business and Commercial Knowledge
  • Part 1: Business Economics
  • Part 2: Business and Commercial Knowledge

 

CA Foundation Course – Marking Scheme

In CA Foundation, candidates are assessed on their comprehension and application skills. Given below is the marking scheme of ICAI CA Foundation Exam:

CA Foundation Papers Level I: Comprehension & Knowledge Level II: Application
1 Principles and Practice of Accounting 5%-20% 80%-95%
2A Business Laws 50%-65% 35%-50%
2B Business Correspondence and Reporting 100% -
3 Business Mathematics and Logical Reasoning & Statistics - 100%
4I Business Economics 40%-50% 50%-60%
4II Business and Commercial Knowledge 100% -

 

Syllabus of CA Intermediate Course

CA Intermediate Groups CA Intermediate Course Syllabus  
Group I Paper 1: Accounting -
Paper 2: Corporate and other Laws Part 1: Company Law
Part 2: Other Laws
Paper 3: Cost and Management Accounting -
Paper 4: Taxation Section A: Income Tax Law
Section B: Indirect Taxes
Group II Paper 5: Advanced Accounting -
Paper 6: Auditing and Assurance -
Paper 7: Enterprise Information Systems & Strategic Management Section A: Enterprise Information Systems
Section B: Strategic Management
Paper 8: Financial Management and Economics for Finance Section A: Financial Management
Section B: Economics for Finance

 

CA Intermediate Course – Marking Scheme

In CA Intermediate courses too, candidates are evaluated based on their comprehension and application skills. Given below is the marking scheme of ICAI CA Intermediate Exam:

CA Intermediate Papers

Level I

Comprehension & Knowledge

Level II

Analysis & Application

1 Accounting 5%-15% 85%-95%
2A Part I: Company Law 40%-55% 45%-60%
2B Part II: Other Laws 35%-55% 45%-65%
3 Cost and Management Accounting 20%-30% 70%-80%
4A Income-tax law 5%-20% 80%-95%
4B Indirect Taxes 20%-45% 55%-80%
5 Advanced Accounting 5%-15% 85%-95%
6 Auditing and Assurance 30%-55% 45%-70%
7A Enterprise Information Systems 40%-65% 35%-60%
7B Strategic Management 50%-70% 30%-50%
8A Financial Management 20%-30% 70%-80%
8B Economics for Finance 60%-80% 20%-40%

 

Syllabus for CA Final Course

CA Final Groups                              CA Final  Course Syllabus
Group I Paper 1: Financial Reporting -
Paper 2: Strategic Financial Management -
Paper 3: Advanced Auditing and Professional Ethics -
Paper 4: Corporate and Economic Laws Part I: Corporate Laws
Part II: Economic Laws
Group II Paper 5: Strategic Cost Management and Performance Evaluation -
Paper 6: Elective Paper List of Elective Papers:
6A Risk Management
6B Financial Services and Capital Markets
6C International Taxation
6D Economic Laws
6E Global Financial Reporting Standards
6F Multi-disciplinary Case Study
Paper 7: Direct Tax Laws & International Taxation Part 1: Direct Tax Laws
Part 2: International Taxation
Paper 8: Indirect Tax Laws Part 1: Goods and Services Tax
Part 2: Customs and FTP

 

CA Final Course – Marking Scheme

In CA Final course, candidates are assessed on their comprehension, application and evaluation skills. Given below is the marking scheme of ICAI CA Final Exam:

CA Final Papers

Level I

Comprehension & Knowledge

Level II

Analysis & Application

Level III

Evaluation & Synthesis

1 Financial Reporting 5%-15% 55%-85% 15%-25%
2 Strategic Financial Management 10%-20% 20%-40% 50%-60%
3 Advanced Auditing and Professional Ethics 15%-25% 40%-70% 20%-30%
4

Corporate & Economic Laws

Part I: Corporate Law

15%-25% 40%-55% 30%-35%
Part II: Economic Laws 30%-50% 50%-70%
5 Strategic Cost Management and Performance Evaluation 10%-15% 45%-55% 35%-40%
6

Direct Tax Laws & International Taxation

Part I: Direct Tax Laws

5%-10% 55%-75% 20%-35%
Part II: International Taxation 40%-50% 50%-60%
7

Direct Tax Laws & International Taxation

Part I: Direct Tax Laws

10%-30% 40%-70% 20%-35%
Part II: International Taxation 40%-50% 50%-60%
8

Indirect Tax Laws

Part I: Goods and Services Tax

10%-30% 40%-70% 20%-30%
Part II: Customs & FTP 20%-40% 40%-70% 10%-20%

 

Chartered Accountancy (CA) Top Recruiters

International Firms Recruiting CA
1. E&Y 2. Grant Thorton 3. Olam International
4. KPMG 5. BDO 6. Alghanim Industries
7. Deloitte 8. RSM International 9. ETA Ascon Group
10. PwC 11. Tolaram Group 12. Landmark Group
13. Kuwait Resources House 14. Oman Cables Industry 15. Qatar Insurance Co
16. Rak Investment Authority 17. Topaz Energy & Marine 18. Morgan Stanley
19. JP Morgan Chase 20. Citi Bank 21. Credit Suisse
22. BNY Mellon 23. Crisil 24. Edelweiss

 

List of Indian firms hiring Chartered Accountants:

Indian Firms Recruiting CA
1.Khimji Kunverji & Co 2. Lodha & Co 3. Suresh Surana & Asso LLP
4. SS Kothari Mehta & Co 5. Diwan Chopra & Asso 6. S. Aiyar & Co
7. TR Chadha & Co 8. Luthra & Luthra 9. RM Rajapurkar & Co
10. JS Sundaram & Co 11. ICICI Bank 12. Axis Bank
13. Federal Bank 14. Kotak Mahindra 15. Standard Chartered
16. State Bank of India 17. HDFC Bank 18. IDFC Bank
19. RBL Bank 20. Janalakshmi 21. Bajaj Finserv & Group

 

Career you can pursue after CA graduation

  1. Banks 
  2. Auditing Firms
  3. Taxation firms
  4. Public limited companies
  5. Management consultancy firms
  6. Legal firms
  7. CFO firms
  8. Investment houses
  9. Mutual funds

Top Corporate firms that hire CA’s are as follows:

  1. E&Y
  2. BDO
  3. KPMG
  4. PwC
  5. Deloitte
  6. JP Morgan Chase
  7. Credit Suisse
  8. Edelweiss
  9. Grant Thorton
  10. Kuwait Resources House
  11. State Bank of India
  12. Khumji Khiverji & Co
  13. Luthra & Luthra
  14. ICICI bank
  15. Kotak Mahindra
  16. Axis Bank and many more

FAQs Related to Chartered Accountancy (CA) Course

Q1: How many years does it take to complete CA training?

Ans: It takes about five years to complete CA training. 

Q2: How many times can I give CA exams?

Ans: You can take the CA exams as often as possible.

Q3: What are the registration fees for CA courses?

Ans: The fees to be paid for the registration of CA courses are given below:

  • CA Foundation: INR 9,800
  • CA Intermediate: INR 18,000
  • CA Final: INR 22,000 

Q4: What are the different course levels of Chartered Accountancy? 

Ans: The CA course has three levels. Given below are the CA levels in order of hierarchy:

  • Level 1: CA Foundation course
  • Level 2: CA Intermediate/ IPC course
  • Level 3: CA Final course

Q5: Is it compulsory to take maths exams in 10+2 to appear for the CA foundation exams?

Ans: No, it is not a compulsion to take maths in 10+2 to appear for the CA foundation exams.

Q6: Is there any age limit for pursuing Chartered Accountancy?

Ans: There is no maximum age limit for the CA course.

Q7: Does ICAI provide Chartered Accountancy campus placement?

Ans: Yes, the ICAI provides Chartered Accountancy campus placements.

Q8: What are the eligibility criteria to get enrolled for CA intermediate?

Ans: To get accepted into CA intermediate, you need a minimum score of 55% or above on your relevant graduation or post-graduation degree course. However, non-commerce students can still be eligible for enrollment, provided they earn at least 60% in exams administered by the Institute of Cost Accountants of India (ICSI). 

Are you aware which subjects and courses will bring you closer to your dream career?

Worry not, because the Brainwonders test and guidance will not only help you know it, but also follow it!


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