Chartered Accountant has been one of the reputed courses in India and also one of the famous career choices. Every Commerce student dreams to become a successful Chartered Accountant but this profession is not that easy. If you want to become a Chartered Accountant so, let me tell you that it requires full dedication, hard work, passion and If you think you are determined and dedicated, then let us move into this career guide. If you manage to become a Chartered Accountant then this profession offers a great career path, Salary, and a reputed life among other people. The main reason people respect Chartered Accountants is not the salary and their position but it is because this profession is not easy to get into.
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How To Become Chartered Accountant
Here we will share a detailed information guide that will help you on How to become a successful Chartered Accountant in India so, you can become a great successful Chartered Accountant. This time Chartered Accountant Course is most famous among the Commerce Students and with the help of this article, you will understand all the procedures of How To Become a Chartered Accountant.
The syllabus of the CA Course is divided into Four parts:-
- CA Foundation
- CA Intermediate
- Articleship Training (3 years)
- CA Final
CA Foundation Course
CA Foundation is the entry-level test for the students who want to pursue the Chartered Accountant Course offered by the Institute of Chartered Accountants of India (ICAI). CA Foundation is the first step to become a Chartered Accountant in India. CA Foundation Exams are held twice a year in May and November. The students can register for CA Foundation Course after appearing in the 12 examinations. Students can apply for the CA foundation course through the ICAI official website:-https://www.icai.org/.
Whenever you are enrolled you need to go through a study period of four months to appear in the test. CA Foundation syllabus has four subjects related to basic accounting and auditing principles of 100 march each. where 2 papers are of the subjective type and the next two papers are objective type. You have to study hard and prepare well to score high in CA Foundation Examination.
The CA Foundation Course has 4 subjects of which two are subjective and two are objective. Negative marking will continue in the objective paper.
CA Foundation Course Subjects
Paper-1: Principles and Practice of Accounting
Paper-2: Business Laws and Business Correspondence and Reporting
- Section A: Business Laws
- Section B: Business Correspondence and Reporting
Paper-3: Business Mathematics and Logical Reasoning & Statistics
- Part I: Business Mathematics and Logical Reasoning
- Part II: Statistics
Paper-4: Business Economics and Business and Commercial Knowledge
- Part I: Business Economics
- Part II: Business and Commercial Knowledge
|Sr no.||Details Of Fees||Indian National (INR)||Foreign National Students ($)|
|1||Cost of Prospectus||200/-||$20|
|3||Student’s Journal (Optional)||200/-||$20|
|4||Member’s Journal (Optional)||400/-||$40|
ICAI has given a 75% relaxation in the registration fees for the CA candidates from some specific states. Learn more about details of the CA Foundation Fee Structure.
Eligibility Criteria for CA Foundation 2021 Registration
Candidates have to full fill all the criteria of the CA Foundation Course in order to appear for CA Foundation Examination 2021. The Criteria of CA Foundation Course 2021 are written below.
- The candidate must have passed the 12th class examination from a recognized board then they will be eligible for the CA Foundation 2021 examination.
- Candidates must be registered with the Board of Studies (BOS) for the CA Foundation Course before the last day of registration, or be converted into a Foundation Course with the Board of Studies of ICAI.
What are Documents required for CA Foundation Course 2021
- Attested copy of the Admit Card/ Marksheet of the 12th examination issued by the respective board.
- One latest coloured photograph should be affixed on the online registration form.
- Attested copy of the proof of Nationality, if the student is a foreigner.
- Attested copy of the proof of special category certificate i.e. ST/SC/OBC, Differently abled.
- Attested copy of 10th Admit card or Marksheet.
CA Intermediate Course
In your journey to becoming a Chartered Accountant CA Intermediate will be your next level after clearing the CA Foundation Exam. Those students who are graduates and postgraduates and want to pursue CA Course can apply for the same through the Direct Entry Scheme. CA Intermediate Course is quite difficult which makes this level a little harder and challenging. The CA Intermediate Syllabus is Vast and difficult and because of this many students are not able to pass CA Intermediate Course on the first attempt. But if you study in the right manner with the right guidance and with full of dedication and discipline you will certainly pass the CA Intermediate Exam on the first attempt even you can achieve a rank.
After the announcement of the CA Foundation result, you have 9 months to prepare yourself for the CA Intermediate Examination. This level is not easy as you think you need proper guidance and for that, you need a Best CA Intermediate Coaching which gives you a guarantee to complete your syllabus within 5-6 months So, you have enough time for revision and self-study. The modules and study materials provided by ICAI are also very important so never neglect. It gives you a thought of questions asked, presentation demanded, and how to reply in the test.
Always keep in your mind that practice makes a man perfect, never forget to revise your syllabus do three times revision, which is a must to clear CA Intermediate Exam. Complete your syllabus on time so you can have enough time for self-study. Solve old attempts question papers, practice papers, and mock test papers.
CA Intermediate Subjects are divide into two parts Group 1 and Group 11.
Papers of CA Intermediate Course
Paper 1: Accounting
Paper 2: Corporate & Other Laws
- Part I: Company Law
- Part II: Other Laws
Paper 3: Cost and Management Accounting
Paper 4: Taxation
- Section A: Income-tax Law
- Section B: Indirect Taxes
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 & Economics for Finance
- Section A: Financial Management
- Section B: Economics for Finance
To pass this exam or a student is declared to have passed this examination only when he/she attains a minimum of 40% in each paper and 50% of the total marks of all papers. A student can attempt for both groups or in a single group at one time. One will be declared to pass this exam only after passing both groups. If a student scores 60% or more on any paper, that paper will be exempted for the next three attempts. He would not be required to give that paper in the following three attempts.
CA Intermediate Registration Fees
|CA Intermediate Fees Details||Single Group (INR)||Single Group ($)||Both Groups (INR)||Both Groups ($)|
|CA Intermediate Course Registration Fee||15000/-||–||11000/-||–|
|Student’s Activity Fees||2000/-||–||2000*||–|
|Registration Fee as article assistant||1000/-|
Eligibility Criteria for CA Intermediate 2021 Registration
Candidates can Register for CA Intermediate Course by filling and online Submission form through ICAI’s official website. Candidates can apply for the course through CA Foundation Route or Direct Entry Route.
Ca Foundation Route
Students must have cleared their 10+2 examinations and from the recognized board and ICAI CA Foundation Examination in order to appear in CA Intermediate Examination 2021.
For Direct Entry Route:
- There is also a direct entry route through which a candidate can enroll for intermediate without going through either CPT or CA Foundation directly.
- Those students who are graduates and postgraduates in commerce and have secured a 55% mark can register themselves for CA Intermediate Course without appearing in CPT or CA Foundation Examination.
- Same as Commerce graduates, Non-commerce graduates and post-graduates can also register for CA Intermediate Course By Securing 60% marks in their graduation and post-graduation.
- Students who have cleared the intermediate level of The Institute of Cost Accountants of India” or “The Institute of Company Secretaries of India can also register for the CA Intermediate Examination directly after undergone through 8 months of study period similar to students who are appearing through the CA Foundation route.
What are Documents required for CA Intermediate Course 2021
For CA Foundation Route
- Submit an attested copy of the Marksheet of class 12th or its equivalent Central Govt. recognized examination pass Mark statement.
- Affix a coloured and latest photograph on the hard copy of the registration form.
- Attested copy of the proof of Nationality, if the student is a foreigner.
- Attested copy of the proof of special category certificate i.e. SC/ST/OBC or Differently abled.
For Direct Entry Scheme Route
- Submit an attested copy of the Graduation / Post Graduation Marksheet OR
Marksheet or Mark statement of Intermediate level Examination of ICSI (Institute of Company Secretaries of India) or ICWAI (Institute of Cost Accountants of India)
- One coloured and latest photograph should be attested to the print out of the online registration form.
- Attested copy of the proof of the Nationality, if the student is Foreigner.
- Attested copy of the proof of the special category i.e. SC/ST/OBC or Differently abled.
ICITSS (Information Technology and Orientation Program)
A student must compulsorily complete 4 weeks of ICITSS before practical training begins and after completing a single or both groups of intermediates. It consists of two trainings one is information technology and the other is a 15-week orientation program.
|Fees Details of ICITSS||INR|
|The Information Technology program Fees (Including Study Materials)||6500/-|
|The orientation program Fees (Including Study Materials)||7000/-|
After Completing CA Intermediate Student can go for the Articleship. Articleship Training is the most important part of a journey to become a Chartered Accountant. We all know that if you are pursuing a professional course then have to be excellent in both theory and practical, and Articleship Training is the period where students have to undergo practical training Under a practising Chartered Accountant for 3 years. In this period, they work on their practical skills and learn about real case studies and scenarios. In this 3 years of the training period, 2 years are mandatory to spend under a practising Chartered Accountant and for 1 year they have an option either to remain in the practical training under a Chartered Accountant or go for Industrial Training under a Chartered Accountant in Employment. Students can register themselves for the Articleship training after passing in any of the groups of CA Intermediate.
What are the procedures to register for the Articleship Training
To start Articleship training purchase Form 102 and 103 from the ICAI by paying a fee of Rs-50/-. Candidates can also download Form 102 and 103 free of cost from the institute’s official website for registration of the article and one has to pay Rs-50/- Extra while submitting the form. Students need to fill in all details asked in the form carefully.
CA Final Course
The last and final stage to become a Chartered Accountant. CA Final is the toughest part in the journey of an aspiring Chartered Accountant. Candidates can apply for CA Final after clearing the CA Intermediate which is the second Level. After passing the CA Intermediate exam one is eligible to register himself/herself CA Final Course. The Final level has 8 Subjects which are divided into 2 groups.
Below are the subject of CA Final Course written in groups wise:-
In Group 1
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
In Group 2
Paper 5: Strategic Cost Management and Performance Evaluation ( CA Final Costing )
Paper 6: Elective Paper (One to be chosen from the list of Elective Papers)
List of Elective Papers
- 6A Risk Management
- 6B Financial Services & 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 I: Direct Tax Laws
- Part II: International Taxation
Paper 8: Indirect Tax Laws
- Part I: Goods and Services Tax
- Part II: Customs & FTP
When we can apply for the CA Final Examination
Candidates are only allowed for the CA Final Examination when they have completed the following steps:-
1. When a student gets register with the ICAI for the CA Final course and
2. When He/She completed his/her practical training or serving the last six months of practical training
3. When they have completed the CA Intermediate Exams.
4. When students completed the Advance Integrated course on Information Technology and Soft Skills (Adv. IT & MCS).
Student needs to obtain 40% marks in each subject and 50% marks in aggregate of all papers to clear the CA Final Examination. However, if a student scores 60% in any subject, that subject will be exempted for further three exams. But if the student is not able to pass the final examination within three attempts, then he/she will have to try again for that previous exempted paper. Students can try single or both groups at once. And after passing both groups and completing practical training you will be a Chartered Accountant after that you can apply for a membership number with ICAI.
CA Final Course Registration Fees
Candidates can enroll himself for CA Final course after Clearing the both Groups of CA Intermediate Course. Candidate need to make a payment of Rs 22000/- (Indian Student) or 1100US$ (Foreign Student) for CA Final Registration to get him/herself enroll for the CA Final Course.
|CA Final Course Fees Details||National Student (INR)||Foreign National Students ($)|
|CA Final Registration Fees||22000/-||$1100|
Those students who are from the newly formed Union Territories pf Jammu, Kashmir and Ladakh and North East States nned to pay INR-5500/- if
FAQ’s of Chartered Accountant Course
Q. Is CA Course tough for an average student?
An average percentage of 55 or 60 per cent is required for entry into CPT (CA foundation), not a high score. In class 12, an average student can easily get 75-80 per cent and is eligible to CA Course. Your 12th marks are just for your eligibility for the CA course.
Q. What is the age limit for CA Course?
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/aaply for CA Foundation exams soon after passing Class 10.
Q. What are CA subjects?
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)
CA Final Subjects
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)
Q. Is CA a stressful job?
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.
Q. Can I complete CA in 2 years?
No, CA cannot be completed in 2 years. In the above flow chart, I have shown all routes of joining CA and minimum time taken up by CA students in passing each exam(i.e in 1st attempt).
So in short, 3 yrs of articleship is compulsory in both routes, so, there is no way to complete the CA in just 2 years.
Q. Who is the richest CA in India?
Kumar Mangalam Birla
Kumar Mangalam Birla stands out as one of India’s most respected Chartered Accountants, as well as the richest CA the country has today. With a market cap of over $40 billion, he operates a corporate empire. The Aditya Birla Group is listed as the third-largest company house in India.
Q. Is CA difficult than IIT?
Both CA & IIT fields are different fields so they cannot be directly compared to check which is easy or difficult.
If we talk about the success rate, CA exam has a pass percentage of about 15-18% overall. Whereas, in IIT JEE more than 10 lakh of students take part, out of which, about 80% clear the Mains and about 12-15% qualified students in Mains clear the Advanced exam.
IIT JEE is an entrance exam for undergraduate courses, whereas, CA is a professional course with different levels.
Q. Is CA good for the future?
Yes, No doubt that CA has a good future. Below are a few of them:
Formal banking is increasing with its no. of branches of banks. More branches mean more branch audits and more work for CAs.
GST and INCOME TAX returns have grown up many times, which again increased the work and scope for CA work.
ICAI has now entered into MOUs(Memorandum of Understanding) with other international accounting bodies. Indian CAs now have international acceptance and they are not confined to India only.
Indian Govt is giving incentives for registering private limited companies, this will lead to an increase in registration of new companies, and audit for chartered accountants will increase.
Many companies are declared as insolvent by the Government. CAs are playing the role of Insolvency professionals, so demand for CAs again is bound to increase.
Many big companies are hiring CAs for consulting purposes to make big decisions for the companies.
Q. What if we fail in CA Course?
CA exams are one of the most difficult exams. There are many students who pass the exams in 1 go, but there are many more students who get passed by attempting few attempts. Failing in CA exams shall not result in demotivation because, once you are a CA, your attempts do not matter, so forget about the no. of attempts.
“The secret of life is to fall seven times and to get up eight times.” — Paulo Coelho
Keep in mind following things:
KEEP YOURSELF MOTIVATED. These small failures shall not demotivate you. You shall focus on your goal, as sometimes, it takes time to succeed.
DO NOT OVER-STRESS YOURSELF. Overstressing the brain sometimes loses its working capacity, resulting in slow processing.
MAKE A TIME TABLE. Everyone creates a time-table but very few follow this in the long run. So it’s very important to make a time table which you actually can follow. In this time table, make sure that you take out proper relaxing time. Time for yoga/meditation shall be there. Proper sleep time should be taken care of.
SHORT BREAKS. You shall take care of short breaks in between your studies, as this will help in more concentration.
KEEP DISTANCE FROM SOCIAL MEDIA. Social media is really a very distracting factor in the life of students. They tend to indulge in many of the things on which they should not fall into during their studies. So it is always advisable to keep a long distance from social media.
“The one who falls and gets up is stronger than the one who never tried. Do not fear failure but rather fear not trying.” ― Roy T. Bennett
How many hours of study is required for CA?
There is no fixed answer to this question. It always depends on the concentration power of the students. Sometimes a particular concept is easier for a group of students to understand than others. Although, it is advisable to study at least 4-5 hours daily with full concentration. As the exams are approaching, you shall start increasing time from 4-5 hours to 7-8 hours, so that you could revise & practise the subjects properly.
Successful people do the same things but differently. First go through Mock test papers, RTPs, MTPs & previous years question papers. This will give you an idea which type of questions & which topics are important as per exams. Always mark/book mark the concepts which you were not able to comprehend or the parts which are important for exams during your first time of study of the course. This process makes your first revision easy. This saves time & gives you time to practice the subject more. You should consider dedicated 6-8 hours with full concentration on the studies and you shall start studying at least 3 months before your exams. And never ever under-estimate ICAI study material & practice manual. Along with the study schedule, take care of the following points as well:
Relaxing mind & body is also important at this time so give time to yoga or meditation & give at least 6 hours to your sleep.
Keep yourself away from Social media.
Give time only to your family and study. Partying with friends should be postponed for after exams.