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).