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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.
Eligibility Criteria for CA
Before you can appear for CA, there are a few requirements you must first fulfil.
Eligibility Criteria for CA Direct Entry Route:
For direct entry to CA Intermediate course, the candidate must fulfil the following eligibility criteria:
The process to become a Chartered Accountant.
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 |
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:
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.
Given below is the process of CA Foundation route entry for pursuing a Chartered Accountancy course from ICAI:
Given below are the two processes of Direct Entry route at Intermediate level to pursue Chartered Accountancy course from ICAI:
Eligible Graduates and Postgraduates
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 |
|
Paper 3 | Business Mathematics and Logical Reasoning & Statistics |
|
Paper 4 | Business Economics & Business and Commercial Knowledge |
|
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% | - |
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 |
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% |
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 |
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% |
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 |
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 |
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:
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:
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).
Worry not, because the Brainwonders test and guidance will not only help you know it, but also follow it!