Chartered Accountancy
[one_half][ads1][/one_half]Each career in itself has a huge scope for advancement & promotion in life. One such is being a Chartered Accountant / Chartered Accountancy . Today with the increasing economy, capital market & huge business plans, the need for a professional practicing CA is huge. A Chartered Accountant is the key person for any company.The company’s financial policy & investment plans are completely formulated taking into account the CA’s opinion. In general, a CA’s role is more crucial for any kind of business plans to sustain & build a company grow. On the other hand, becoming a CA is a dream of millions but very few make it since the rigorous study & practical training can only be successfully completed with nerves of steel. Let’s now look at the different levels, exams which one needs to pass before he becomes a CA.
The path to become a Chartered Accountancy
- Enroll for the CA Foundation course after 10+2.
- After Successful completion of Foundation course, join the Intermediate course (at this stage even graduates can join directly for intermediate course).
- Register as an articled clerk with a practicing CA for undergoing practical training and as a student with Board of Studies – I.C.A.I for theoretical education.
- Take up Intermediate exams after 12 months of training.
- Take up Final exams after successfully completing Intermediate.
- Pass Final Exams & become a member of ICAI.
- You become a Professional Practicing CA.
Personality requirements
- Strong fundamentals of Accounting, statistics, laws, taxes, etc..
- Quick grasping & adapting skills.
- Ability to work independently & as a team.
- Good & effective skills of Communication.
- Developing one’s intellect to face the global business growth.
CA – Foundation Course
It’s the basic & the first step for getting on to a career as Chartered Accountant.
Eligibility : 10+2.
Duration : 10 months.
Fees : Rs. 2,000 /- (approx) .
Subjects Studied
- Fundamentals of Accounting.
- Mathematics & Statistics.
- Economics.
- Mercantile Law.
- Business Communication & Organization Management.
CA – Intermediate Course
Eligibility :
- Completion of Foundation Course & pass in Foundation Exam.
- Commerce graduates with more than 50%.
- Non-commerce graduates with mathematics as one of the subjects & 60% of total marks.
- Non-commerce graduates other than mathematics with minimum 55%.
Duration : 12 months
Fees : Rs.3,000 /- (approx)
Chartered Accountancy Subjects Studied
Group 1
- Paper1 : Advanced Accounting.
- Paper2 : Auditing.
- Paper3 : Corporate & other Laws.
Group 2
- Paper4 : Cost Accounting.
- Paper5 : Income Tax & Central Sales Tax.
- Paper6 : Organization Management & Fundamentals of Electronic Data Processing.
CA – Final Course
Eligibility : Successful Completion of Intermediate course.
Duration : 6-10 months
Subjects studied
Group 1
- Paper1 : Advanced Accounting.
- Paper2 : Management Accounting & Financial Analysis.
- Paper3 : Advanced and Management Auditing.
- Paper4 : Corporate Laws & Secretarial Practice
Group 2
- Paper5 : Advanced Cost Accounting & Cost Systems.
- Paper6 : Systems Analysis, Data Processing & Quantitative Techniques.
- Paper7 : Direct Taxes.
- Paper8 : Indirect Taxes.
Compulsory Computer Training
A student must undergo 250 hours of compulsory Computer training as per the scheme prescribed by the Board of Studies.
Fees : Rs. 6000 /- (approx)
Articleship
Its mandatory for a student who has enrolled for CA – Exams to undergo practical training for 3 years as an Articled clerk, under a chartered accountant or CA firms. During the training, stipend is paid to the student.
Admission Process
The applications are invited 1 year in advance for these courses. The examinations are held twice a year – May & November. Last date to apply
- For May Examination – 30th June of the Previous Year.
- For November Examination – 31st December of the Previous Year.
Note : The last date to enroll for May 2006 Exams is 30th June 2005.
Institute of Chartered Accountants of India – Regional Centers
- ICAI – Central India Regional center.
16/77, Civil Lines, Post Box No. 314, Kanpur – 208001.
- ICAI – North India Regional Center
Indraprastha Marg, New Delhi – 110052.
- ICAI – Eastern India Regional Center
7, Russel Street, Kolkata – 700071.
- ICAI – Southern India Regional Center
122, Uttamar Gandhi Salai, Nungambakkam, P.B. 3314, Chennai – 600034.
- ICAI – Western India Regional Center
27, Cuffe Parade, P.B. No. 6081, Colaba, Mumbai – 400005.
Campus Interviews
Most of the regional centers of ICAI have placement cell which gives the young professionals the opportunity to explore Regional, National & Global Avenues.
Membership of ICAI
After the successful completion of CA final exams & practical training, one can become a member of I.C.A.I. This makes him / her a deemed member of I.C.A.I. After 5 years of continuous practice and experience as prescribed by the I.C.A.I, one can get fellow membership..
Chartered Accountancy Job prospects
After the successful completion of Final CA course, practical training & enrolling as the member of Chartered Accountants of India, one can very easily find a good lucrative job. The open options are.
- Independent professional practice.
- Join existing chartered accountant firms.
- Financial advisor for MNC’s & different businesses.
- Good openings in Govt. sector.
- Set up own industry.
- Collaborate with Global Financial Services
- and many more…
Special thanks
The author thanks Mr. Syed Jalaluddin ( a CA aspirant ), Bangalore for giving vital inputs for this article.
Originally Written by Mr. Ameen-E-Mudassar for the Milli Gazette, Dated On 1 May 2005
