In India “CA Course” (Chartered Accountant) is one of the Challenging & Respectful Field in Accounting.
Chartered accountancy was established in 1854 in Britain. In India, CA Course is coordinated by The ICAI (Indian Chartered Accountants Institute).
CA Course Details
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- CPT (Common Proficiency Test)
- IPCC (Integrated Professional Competence Course)
- FC (Final Course)
CA Course Eligibility
- The student is eligible for CA Course CPT Registration after 10th, but they can attempt the CPT exams after Class 12.
- Any Stream Student- Arts/Commerce Science can apply for CA Course.
- Commerce Student requires a minimum 50% marks in class 12 exam in order to be eligible for CPT.
- If Any Student Cleared the CPT, Candidate becomes a member of ICAI.
CPT (Common Proficiency Test)
CPT is the first level of CA Course.
Syllabus Subjects are-
- Fundamentals of Accounting
- Mercantile Laws
- General Economics
- Quantitative Aptitude
After Clearing the CPT Exam, Student Have to enroll for the ATC.
Candidates who had formerly registered for Intermediate/ Intermediate (Professional Competence) program/ Professional Education (Course-II) can enroll for ATC.
IPCC (Integrated Professional Competence Course)
If you apply for IPCC program, so the candidate must have to score at least 100 out of 200 marks in CPT
Registration for IPCC must be done nine months prior to the first day of the month in which the exams will be conducted.
The Total No of Subjects are 7.
You need to get at least 40% marks in each subject.
While pursuing IPCC, Candidate shall complete 35 hours of the orientation program and 100 hours of ITT program (Information Technology Training -ITT MS Office programs, ICAI CA software, Project, Etc.)
IPCC syllabus includes the following subject-
- Business Laws, Ethics and Communication
- Cost Accounting and Financial Management
- Advanced Accounting
- Auditing and Assurance
- Information Technology and Strategic Management
FC (Final Course)
In the CA Final Course, Practical Knowledge is very important to clear the exams. Due to which, the CA final course includes 3 years of compulsory Practical Training in the firm.
CA Final Course Subjects are-
- Financial Reporting
- Strategic Financial Management
- Advanced Auditing and Professional Ethics
- Corporate and Economic laws
- Strategic Cost Management & Performance Evaluation
- Elective Paper contains certain topics out of which students need to select only 1 topic-Risk Management/International Taxations/ Economic Laws/ Financial Services & Capital Market/ Global Financial Reporting standards/ Multidisciplinary case studies
- Direct Tax Laws and International Taxation
- Indirect Tax Laws
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CA Course Exams:
Exams are conducted group-wise, so ICAI is providing the chance to students to give exams group wise/ both groups together so that students shall get ample time to study an revise the syllabus.
Every year, ICAI conducts exams twice, in the month of May and November.
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Frequently Asked Questions
1. Can I complete CA in 3 years?
Ans. There is 2 types of entry to CA-
I- Through CA Foundation Exams which you can give right after Class 12th exams;
II- DIRECT ENTRY- If you have appeared in Final year of graduation/Post-graduation OR you have cleared Intermediate level of CS/ICWA.
If all exams are cleared in 1 attempt, then in both cases, I am explaining the minimum amount of time required:
I- After Class 12th Exams-
Soon after 12th result you are eligible to give CA Foundation exams. You have 4-5 months time to prepare for exams.
After exams in November, you can register for CA Inter exams, which you can give in May.
After completing CA Inter any 1 group/ both groups, you need to register for ARTICLESHIP(for 3 years). During this time, you can keep preparing for exams and after 2.5 years of articleship, you are now eligible to give CA Final exams, but before giving exams you need to undergo GMCS & advance ITT. A student who has passed Intermediate / Professional Education (Examination – II) / Professional Competence Course and is serving his last 12 months of articles is eligible to complete the course of GMCS
After that give your exams and if u clear both groups, you can be admitted as an associate member only after completion of the course on General Management and Communication Skills(GMCS). Then you will be declared as qualified Chartered Accountant.
This will take 4 years.
II- In Direct entry, you can directly enter the CA Inter exams. There is no need for Foundation exams, saving your 6 months.
Hence, it will take 3.5 years to complete CA in this mode.
2. How can I become a CA?
Ans. There are 2 ways to get into CA.
FOUNDATION COURSE ROUTE:
Step 1: Enroll to CA Foundation course after Class 12th.
DIRECT ENTRY ROUTE
3. What are CA subjects?
Ans. Below are the subjects in each level of CA course as per new scheme:
1. Principles and Practices of Accounting
2. Business Law & Business Correspondence and Reporting
3. Business Mathematics and Logical Reasoning & Statistics
4. Business Economics & Business and Commercial Knowledge
100 Marks each(Total 400 marks)
2. Corporate laws & other laws
3. Cost & Management Accounting
5. Advanced Accounting
6. Auditing and Assurance
7. Enterprise Information System & Strategic Management
8. Financial Management and Economics for Finance
100 Marks each(Total 800 marks)
1. Financial Reporting
2. Strategic Financial Management
3. Advanced Auditing and Professional Ethics
4. Corporate Laws and Economic Laws
5. Strategic Cost Management and Performance Evaluation
7. Direct Tax Laws and International Taxation
8. Indirect Tax Laws
100 Marks each(Total 800 marks)
4. Is CA a stressful job?
Ans. No, pursuing CA is not a stressful job, rather it is a course which requires a full devotion of its student, unlike other courses like Bsc, B.Com, B.A, MBA etc where if you have entered you will surely be a graduate. But in CA, you have to pass 3 levels and if in case you are not able to pass any level, you are not going to be a Chartered Accountant. This is the reason that students are stressful while pursuing CA.
Your constant dedication & hard work is the key to success. If you are fully dedicated to your goal, you will definitely become a CA.
5. What is the age limit for CA?
Ans. There is no upper age limit for CA exams. You are eligible to appear for CA Foundation exams after clearing Class 12 exams. Although now you can register/apply for CA Foundation exams soon after passing Class 10.
6. How many years is the CA course?
It takes at least 4 years to complete the CA course, in which we have to complete CA Foundation, CA Inter, and CA Final. After CA Inter we have to do 3 years of articles. Then after CA Final a word CA adds before our name. No. of years varies if you are giving exams GroupWise or giving exams for altogether 8 subjects. Although, here we have discussed the last years which may take if you pass the exams on 1st attempt. The best thing is there is no limit of attempts in these exams, so you can try N no. of times. But for CA there is a saying- ”You know when you are going to start the course but there is no definite time of passing all exams & earning a CA degree in your hand.”
7. What is the qualification of CA?
A- After Class 10th, students can register for CA Foundation. They are, however, only qualified to take the CA Foundation exam after passing Class 12th.
B- Students in Class 12 from the Arts, Science, and Commerce streams are also required to enroll in the CA Foundation course.
C- Candidates will enter ICAI after passing the CA Foundation test.
D- Students can skip Foundation exams, this is called DIRECT ENTRY ROUTE:
The candidates who are eligible to register themselves with the Direct Entry Route are given below –
1.Commerce Graduates / Post Graduates scored a minimum of 55% marks or other graduates or Postgraduates who scored a minimum of 60% marks.
2. Candidates who have passed the Intermediate level of Institute of Companies Secretaries of India or Institute of Cost Accountants of India.
E- Candidates who previously registered for IPCC are eligible to apply for ATC.
F- To apply for IPCC (Integrated Professional Competence Course), candidates must score at least 100 out of 200 on the CPT.
G- To pass IPCC, candidates must receive at least 40 points in each subject and an overall score of 50 percent or higher.
H- Finally, the candidates who clear the CA Final exam and featured in the All-India merit list will be awarded the designation of Chartered Accountant.
8. Can we do CA after the 12th?
Yes, CA Foundation is the entry-level exam for students interested in pursuing a Chartered Accountancy degree. Students who have completed their 12th grade will enroll in the CA program. They must prepare for four months after registering in order to take the CA Foundation Exam. After completing the exams, you will receive your CA Foundation result within two months of the completion of the exams.