The Chartered Accountant (CA)
Chartered Accountant is an honorable designation that authorizes and makes the designation holder more credible in the field of accounting. A statutory body certifies candidates as a Chartered Accountant after testing the candidate on the grounds of accountancy, taxation, analytical skills, business practices, corporate laws, and others.
To become a Chartered Accountant (CA) a candidate needs to have skills that includes good quantitative, analytical, problem-solving, commercial awareness, communication, teamwork skills along with ethics, professionalism, and eye for detail.
The Chartered Accountant designation is granted by the Institute of Chartered Accountants of India (ICAI), which is considered as one of the reputed institutes globally. ICAI regulates the Chartered Accountant profession and practices in India.
A candidate can choose to pursue a Chartered Accountant (CA) course after completion of the 12th through the Foundation course option. If a person opts to pursue a Chartered Accountant course after graduation, they can directly register for the Intermediate course through Direct Entry option.
Eligibility for Direct Entry system
Graduates and Post Graduates can apply through the Direct Entry system, if their score is at least 55% aggregate or equivalent. This criterion is for students who have studied Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing, Business Administration or Management Accounting, or subjects that are similar. Graduates or Post Graduates from a non-commerce background need at least 60% score in aggregate or equivalent.
How to plan for the Chartered Accountant (CA) course
1. Register with the Board of Studies (BoS) for the Foundation Course
2. Register for Intermediate course
The Intermediate Course is 8 months of study course and the student can appear for the exam in May or November. The institute provides the option to appear for only one group of subjects or both the group of subjects in the given month. A direct entry student can appear for the Intermediate exam only after completing nine months of practical training.
3. Register for the Final Exam
On clearing both the groups of the Intermediate exam and completing 2.5 years of practical training, the student can appear for the final exams. Once the student has completed 3 years of practical training and cleared both the groups of the final exams, they are granted the Chartered Accountant designation by the institute.
Curriculum for Chartered Accountant (CA) course
Subjects for Foundation course:
Paper 1 : Principles and Practice of Accounting
Paper 2 : Business Laws & Business Correspondence and Reporting
Paper 3 : Business Mathematics and Logical Reasoning & Statistics
Paper 4 : Business Economics & Business and Commercial Knowledge
Subjects for Intermediate Course:
Paper 1 : Accounting
Paper 2 : Corporate and other Laws
Paper 3 : Cost and Management Accounting
Paper 4 : Taxation (Section A: Income Tax Law and Section B: Indirect Taxes)
Paper 5: Advanced Accounting
Paper 6: Auditing and Assurance
Paper 7: Enterprise Information Systems & Strategic Management
Paper 8: Financial Management and Economics for Finance
Subjects for Final Course :
Paper 1 : Financial Reporting
Paper 2 : Strategic Financial Management
Paper 3 : Advanced Auditing and Professional Ethics
Paper 4: Corporate and Economic Laws
Paper 5: Strategic Cost Management and Performance Evaluation
Paper 6: Elective Paper (any one of Risk Management, Financial Services and Capital Markets, International Taxation, Economic Laws, Global Financial Reporting Standards, Multi-disciplinary Case Study)
Paper 7: Direct Tax Laws & International Taxation<
Paper 8: Indirect Tax Laws (Part 1: Goods and Services Tax and Part 2: Customs and FTP)