Every student has a dream to have a job which provides them with a good salary, respect and a stand in the society. After completing the 12th standard one must decide a career option so that he/ she can complete their dreams. In this competitive era, choosing Chartered Accountancy as a career option is really a great thing. For the students who have just completed their 12th or are in 12th standard and looking for Chartered Accountancy as a career option, I have brought all the required information necessary for this career. I have tried my best to make you aware of the entire Course, Career Options, Jobs, Salary, and Eligibility etc. in a very simple manner.
Chartered Accountancy Course – Eligibility
Before opting CA course, the first doubt comes in the mind of the students is- “What is the eligibility for pursuing CA course?” So, the answer for the question is, Chartered Accountancy Course can be pursued by students of all the streams commerce, arts or science. The Institute of Chartered Accountants of India (ICAI) welcomes the students from all the streams to pursue this course.
Documents Required for Enrollment in CA Course
• Attested copy of Admit Card/ Mark-sheet of class 12th provided by the respective board.
• Attested copy of Mark-sheet of class 10th indicating name and date of birth provided by the respective board.
• Attested copy of special category certificate i.e. SC, ST or differently abled.
• One latest photograph attached with the registration form.
Chartered Accountancy: Course Details
The entire CA course is divided into four stages:
• CPT (Common Proficiency Test) or CA Foundation.
• IPCC (Integrated Professional Competency Course) or CA Intermediate.
• 3 years of Practical Training or Articleship.
• CA Finals.
After completing all these stages an individual is ready to work as a Chartered Accountant.
The entire course goes as follows where a normal student is converted into a professional Chartered Accountant.
CPT (Common Proficiency Test) or CA Foundation – This is the initial stage where the journey of a student towards being a CA begins. Just after the completion for 12th standard, a student can apply for the CPT/ CA Foundation exam. Once you get registered with ICAI (Institute of Chartered Accountants of India) for the CA Foundation exam you will receive the study material within 30 days of registration. A student has four months’ time to get prepared for the exam.
The Institute of Chartered Accountants of India conducts the CA Foundation exam twice in a year. Once in the month of June and the other in December. CPT exam consists of 4 subjects- Accountancy, Math (Math & Statistics), Economics and Law.
(It is mandatory to score a minimum of 30 per cent marks in each subject and 50 per cent in aggregate at this level.)
IPCC (Integrated Professional Competency Course) or CA Intermediate – This is the second stage or second step for a student towards being a Chartered Accountant. One a student clears CPT, he/ she then applies for the second stage which is so-called IPCC (Integrated Professional Competency Course) or CA Intermediate. IPCC consists of 2 groups, Group 1 and Group 2 and a student has to appear for a total of 7 papers.
Group 1 – It consists of 4 papers: Accounting, Business Laws – Ethics and Communication, Cost Accounting and Financial Management and Taxation.
Group 2 – It consists of 3 papers: Advanced Accounting, Auditing and Assurance and Information Technology and Strategic Management
(At this level the passing criteria differs a little bit. At this level, an individual has to score a minimum of 40 per cent in each subject and 50 per cent in aggregate at this stage.)
3 years of Practical Training or Articleship – This is the most amazing stage for a student. At this level, an individual actually knows about the work of a Chartered Accountant. As per the norms of “The Institute of Chartered Accountants of India,” a student has to go through a “3 years of Practical Training or Articleship” where he/ she gets prepared for being a certified Chartered Accountant. At this level, a student gets trained and aware of all the responsibilities and work of a professional Chartered Accountant. Here, “The Institute of Chartered Accountants of India” gives the student a chance where he/ she can earn the whole money spent while pursuing the course. While the practical training an intern can get a healthy stiffened starting from 2,000/- to 25,000/- INR per month.
Now a question arises that from where a student does completes the training?
After completing the practical training a student is almost ready to work as a “Professional Chartered Accountant”
CA Finals – This is the final stage for a student towards being a Chartered Accountant. After completion of this level, an individual is ready to work as a Professional Chartered Accountant. At this stage, an individual has to go through 8 papers. Again, CA Finals consist of 2 groups, Group 1 and Group 2.
Group 1 – It consists of 4 papers: Financial Reporting, Strategic Financial Management, Advanced Auditing and Professional Ethics and Corporate and Allied Laws.
Group 2 – It consists of 4 papers: Advanced Management Accounting, Information systems Control and Audit, Direct Tax Laws and Indirect Tax Laws.
(At this level the passing criteria is same as IPCC. At this level, an individual has to score a minimum of 40 per cent in each subject and 50 per cent in aggregate at this stage.)
Work/ Job of a Chartered Accountant
A Chartered Accountant is the sole of any Enterprise. Chartered Accountant is the person without whom the owner of any Enterprise cannot think of taking any financial decision. A Chartered Accountant is one who looks after all the financial transactions and financial needs of an Enterprise.
A Chartered Accountant looks after the accounts, tax, laws and auditing etc. of any enterprise.
A Chartered Accountant is given special rights by the government. Based on the same the annual auditing of any enterprise will only be taken into consideration if the auditing is done/authorized by a certified practising Chartered Accountant.
Chartered Accountant: Salary / Income
A Chartered Accountant is a professional person and most of the time a CA works independently. In terms of job, a Chartered Accountant is offered a minimum of 30,000/- to 50,000/- INR per month on initial level.
While working independently a Chartered Accountant can make a very handsome income of 1 lakh to 5 lakh INR on monthly basis.
(If someone is planning for CA as a career option trust me it is very fabulous career option if you are ready to work hard.)
I hope, I would have helped you regarding your questions related to the CA course with my blog Chartered Accountant – CA – Course| Career| Job| Salary| Work| Eligibility. If you find it helpful then do share with your friends and family. Also, do share your valuable comments and also suggest me your ideas related to which you want to see a blog in future.