Chartered Accountant (CA) Course Details

The Institute of Chartered Accountants of India (ICAI) has recently revised the curriculum to make aspirants more competitive worldwide. The revised scheme of Education and Training for the CA Foundation Course came into effect from 1st July 2017.

Chartered Accountancy (CA) Levels

1. CA Foundation.
2. CA Intermediate.
3. CA Final.

Chartered Accountant (CA) Exam

The CA exam will be held in May and November every year. The course is not new but revised. Besides, the Foundation exam will be both descriptive and objective. Under the new scheme, a student must achieve 40% in all the subjects and 50% marks in aggregate.

Chartered Accountant (CA) Eligibility

There are two options to pursue a Chartered Accountancy (CA) course.

Foundation Entry

If a person opts to pursue a Chartered Accountancy course after 12th standard they can directly register for the Foundation or CPT course through Foundation Entry option.

Direct Entry

If a person opts to pursue a Chartered Accountancy course after graduation or the students who cleared the Intermediate level of the Institute of Cost and Management Accountants of India (ICMAI) or The Institute of Company Secretaries of India. (ICSI), they can directly register for the Intermediate course through Direct Entry option.

Steps to become a CA

Given below are the steps required to become a Chartered Accountant.

1. The first step is to clear the CA Foundation (previously called as Common Proficiency Test – CPT). You can register for this with ICAI after completing your 10th or Senior Secondary but you are only eligible to write the exams once you clear your 12th or HSC exams.

a. The CA Foundation is exempt if you are already a commerce graduate with a minimum of 55% marks

b. It is also exempt for non-commerce graduates with a minimum of 60% marks

2. The second step is to enrol for the CA Intermediate (previously called as Integrated Professional Competency Course – IPCC)

a. Students need to undergo an orientation program, 100 hours of Information technology training and 8 months of studying (called foundation course)

b. Students can then appear for Group 1 and /or Group 2 examinations of the CA Inter

c.  They also need to complete the General Management and Communication Skills course – Part 1.   

d. Once they clear Group 1 and 2 exams, they are eligible for a 3-year articleship with a firm

3. The third step is to enrol for the CA Final exams

a. The exam can be attempted when 6 months of articleship are remaining.

b. Students also need to complete Advance Information Technology Training and General Management and Communication Skills – Part II, if not completed earlier, before the final exam

4. The fourth step is to Acquire Chartered Accountant Membership.

a. After completing all the exams and three years of articleship training, successful candidates may acquire ICAI membership.

b. You can get the membership by registering with the ICAI, after that you will be eligible to use the title of “Chartered Accountant”.

Chartered Accountant qualification is highly regarded among all the professional certifications across industries.

Road map to become a CA

Chartered Accountant Syllabus

Chartered Accountant Papers

To become a CA, you need to clear 20 papers across CA Foundation, CA Inter and CA Final Levels. If you join CA Inter as a Direct Entry after getting commerce degree, then you need to clear 16 subjects across CA Inter and CA Final Levels to become a Chartered Accountant.

Chartered Accountant Course Duration

CA Exams are conducted in May and November every year. Usually, it takes around 4 to 5 years to become a Chartered Accountant. Once you complete all 3 levels and Articleship (3 years) you can become a member of ICAI.

‍CA Foundation Syllabus

CA (Chartered Accountancy) course is conducted by the ICAI (Institute of Chartered Accountants of India). This is the first stage for students who want to become a CA after finishing 12th. The course was revised in 2017 and the revised syllabus is as follows.

CA Foundation has  4 papers

Paper 1 – Principles and Practices of Accounting

Paper 2 – Business Law & Business Correspondence and Reporting

Section A – Business Law

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 & Business and Commercial Knowledge

Part I – Business Economics

Part II – Business and Commercial Knowledge

Paper 3 & Paper 4 are objective type papers.

Note:

1. Passing percentage – Aggregate of 50% for each level and Subject-wise – 40% at each paper.
2. Examination – In November and May after passing Class XII

CA Inter / CA Intermediate Syllabus

The CA Inter / CA Intermediate is the second level at becoming a CA. These exams are also conducted by the ICAI.

CA Inter has 8 papers which are split into two groups

CA Inter Group 1 papers

Paper 1: Accounting

Paper 2: Corporate Laws & Other Laws

Part I: Corporate Laws

Part II: Other Laws

Paper 3: Cost and Management Accounting

Paper 4: Taxation

Section A: Income Tax Law

Section B: Indirect Tax Laws

CA Inter Group 2 papers

Paper 5: Advanced Accounting

Paper 6: Auditing and Assurance

Paper 7: Enterprise Information System & Strategic Management

Section A: Enterprise Information System

Section B: Strategic Management

Paper 8: Financial Management & Economics for Finance

Section A: Financial Management

Section B: Economics for Finance

‍CA Final Syllabus

This is the third level in becoming a CA (Chartered Accountancy) and these exams are also conducted by the ICAI ( Institute of Chartered Accountants of India).

There are eight papers in CA Final from 2016. Changes in CA Final course from below.

CA Final has 8 papers which are split into two groups

CA Final Group 1 papers

Paper 1: Financial Reporting

Paper 2: Strategic Financial Management

Paper 3: Advanced Auditing and Professional Ethics

Paper 4: Corporate Laws and other Economic Laws

CA Final Group 2 papers

Paper 5: Strategic Cost Management and Performance Evaluation

Paper 6: Elective Paper (One of the Elective Papers to be chosen by the candidates)

CA Final Elective Papers

1. Risk Management
2. International Taxation
3. Economic Laws
4. Financial Services & Capital Markets
5. Global Financial Reporting Standards
6. Multi-disciplinary Case Study

Paper 7: Direct Tax Laws & International Taxation

Part I: Direct Tax Laws

Part II: International Taxation

Paper 8: Advanced Indirect Tax Laws

CA Final Examination criteria and details

1. Orientation program – 100 hours of information technology training and eight months of studying is called foundation course which is mandatory.
2. Then you can appear for Group 1 and 2 examinations of the CA Intermediate / Inter.
3. It’s mandatory to complete the IT training orientation course.
4. Once the Group 1 and 2 exam is cleared, then you are eligible for a three-year article ship with a firm.
5. After clearing CA Intermediate / Inter is the final CA exams
6. CA Final exams can be attempted when six months of article ship is remaining
7. Completion of Advance Information Technology Training and General Management and Communication Skills – Part II before the final exam is mandatory.
8. CA Final course is primarily done by self-study or with the help of CA training center in Chennai. The CA Foundation course and the CA Intermediate / Inter exams can be done while pursuing a graduate degree, but article ship is done as full-time jobs.

Chartered Accountant Salary

The average salary for a Chartered Accountant professional is about ₹ 8.48 Lakh per year. And the highest salary awarded recently was ₹ 24.64 Lakh per year.

Role of Chartered Accountant (CA)

• To act as an accountant to maintain the proper books which portray the right and fair view.
• To provide information reports to management.
• To act as a statutory auditor
• To provide financial advice
• To act as a service provider to assist in share registration and arbitration
• To act as an internal auditor
• To act as a tax consultant
• To act as a management consultant

Chartered Accountant Jobs

Chartered accountancy is a professional course which offers a lot of career options and opportunities with the best salary in hand. Below describe career options.

• GST Service Providers
• Chief Accountant
• Chief Financial Officer (CFO)
• Chief Manager- Internal Audits
• Head –Training
• Lecturer/Professor
• Chief Manager – Management Audits
• Chief Manager- System
• Advisor to the Government
• CA can choose to start up their independent practice.
• They can also apply for the job of a chartered accountant in an existing firm.
• They can also give their services to the capital market.
• A Chartered Accountant can apply for a government job or public sector or private sector.
• The CA plays an important role in the firm in taking quick financial decisions and profit decisions for the firm.

CA Foundation Registration Fees

Candidate has to register by payment of the fees as per the below chart.