Chartered Accountancy

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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

  1. Enroll for the CA Foundation course after 10+2.
  2. After Successful completion of Foundation course, join the Intermediate course (at this stage even graduates can join directly for intermediate course).
  3. 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.
  4. Take up Intermediate exams after 12 months of training.
  5. Take up Final exams after successfully completing Intermediate.
  6. Pass Final Exams & become a member of ICAI.
  7. You become a Professional Practicing CA.

Personality requirements

  1. Strong fundamentals of Accounting, statistics, laws, taxes, etc..
  2. Quick grasping & adapting skills.
  3. Ability to work independently & as a team.
  4. Good & effective skills of Communication.
  5. 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

  1. Fundamentals of Accounting.
  2. Mathematics & Statistics.
  3. Economics.
  4. Mercantile Law.
  5. 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)


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.

  1. Independent professional practice.
  2. Join existing chartered accountant firms.
  3. Financial advisor for MNC’s & different businesses.
  4. Good openings in Govt. sector.
  5. Set up own industry.
  6. Collaborate with Global Financial Services
  7. 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