What is CA?
CA is an abbreviation of Chartered Accountancy. To pursue a CA degree there is only one statuary body known as ICAI (Institute of Chartered Accountants of India).it was established on 1 July 1949 under the charted accountants act, Enacted by Parliament in 1949.
About the CA course
Chartered Accountancy is a professional thing of accounting, taxation, auditing, and financial assessment for an individual or an organization. Chartered Accountant is a designation given to an accounting professional who has received certification from a reputed CA organization, that he or she is qualified to handle the matters related to accounting and taxation of a business, like an audit financial statements, file tax returns, and business practices to maintaining all the records of investments, preparing and reviewing financial reports and documents. A professional candidate who is trained in Chartered Accountancy can also be qualified to offer advisory services to clients which include companies and individuals.
To become a certified chartered accountant requires completing three levels of training designed by the Institute of Chartered Accountants of India (ICAI). The ICAI is an institute that regulates and maintains the profession of chartered accountancy in India. Under the scheme of Education and training, a candidate can pursue a Chartered accountant course in two ways either, the first way is the foundation course route or the second one is the direct entry route. The Foundation Course is the entry point into the CA course after class 12th, and another direct entry route is there for those who have completed graduation.
Eligibility Criteria for CA course
CA course can be pursued after class 12th by registering for the foundation course of ICAI. Also, there is a direct way for those who have completed a bachelor’s or master’s degree in commerce discipline with 55% marks and if we talk about other subjects discipline the candidate has to score with 60% marks or have passed the intermediate level of CA course of the institute of company secretaries of India. For direct entry admission, candidates have to register for the intermediate course of ICAI.
Duration of CA course
There is no defined course duration to complete the CA course, however, ideally, all courses (levels) of CA are completed within 5 years. The CA course is considered complete only after a candidate passes all the papers of the chartered accountant course. If you start the course after graduation (through direct entry), then you will be able to complete the full CA course in three years of time span.
process of becoming a CA in India
While exploring the CA course and analyzing the syllabus of CA, it is essential to understand what process one has to follow to become a chartered accountant in India. in India, there are three levels for CA course, the first level is CA foundation or CPT, the second one is IPCC and the third one is CA final. Articleship is another compulsory step that has to be completed after qualifying CA, IPCC. The ICAI has enabled the way for candidates to enter via two entries such as CA foundation and IPCC.
CA selection process and structure
- The students should register with the recognized authority governing CA programs like ICAI.
- They need to qualify for 3 modules of the course: CA Foundation Exam, intermediate course (2groups), and CA final which consists of numerous CA subjects.
- After you have cleared the first level of the CA foundation exam and the first group of intermediate courses, then you are eligible to start your articles under a CA firm or a practicing CA, it’s also called Article ship.
- Till the time you complete 3 years of practical training, your CA final is due which you have to clear to become a certified Chartered accountant.
- After this, you have to complete computer-related training and an orientation course(OC) to improve your knowledge regarding information technology and for soft skill development.
- Once all courses and articles ship, everything is complete, then students will be awarded their professional CA degree.
People aslo read:
Level 1 – CA foundation/CPT
- fundamentals of accounting
- quantitative aptitude
- mercantile law
- general economics
- general English
Level 2 – CA intermediate/IPCC
- cost accounting and financial management
- advanced accounting
- auditing and assurance
- business laws, ethics, and communication
- information technology and strategic management
- corporate and other laws
Level 3 – CA final
- advanced auditing and professional Ethics
- financial reporting
- strategic financial management
- strategic cost management and performance Evaluation
- corporate and Economic Laws
- Direct tax laws and International Taxation
- Indirect tax Laws
Passing marks for CA
The Candidates should score a minimum of 40% marks on each paper and a minimum of 50% marks in aggregate of all the papers to pass the CA foundation exam.
Fees Structure of CA course
Here is the fee structure of the CA course for three different levels which are given below in the tabular form
Skills required to become a CA
These are some skills for the CA course, take a quick look at what are the skills that you should have to become a CA.
- Deliverance and determination
- A knack for numbers
- Conceptual understanding
- Analytical skills
- Ability to handle manifold tasks under pressure
Salary of CA
The average salary of chartered accountants in India ranges from Rs 6-7 LPA to Rs 30 LPA. The salary package offered by International auditing firms can go up to Rs 75 LPA.
Top recruitment companies for CA
- Khimji kunverji & Co
- SS Kothari Metha & Co
- TR Chadha & Co
- JS Sundaram & Co
- Federal Bank
- State bank of India
- RBL bank
- Lodha & Co
- Diwan Chopra & Asso
- ICICI Bank
- Kotak Mahindra
- HDFC Bank
- Axis Bank
- IDFC Bank
- Kuwait Resources House
- Rak Investment Authority
- JP Morgan Chase
- BNY Mellon
- Grant Thornton
- RSM international
- Tolaram Group
- Citi Bank
- Qatar Insurance Co
Visit the website of the Institute of chartered accountants of India (ICAI) from Here
Register for CA Foundation Course from Here
I wish you all the best for your Chartered Accountant journey.
Frequently asked questions about CA course
What is the full form of CA?
The full form of CA is a Chartered accountant.
Is CA tough?
Yes, CA is one of the toughest course, when you start is feel easy but when it’s on the ending point then it becomes very difficult.
How many levels are there in the CA course?
There are three levels in the CA course which are, Foundation, Intermediate, and final.
What is the duration of the CA course?
The duration to clear the CA course is not fixed, but normally its takes 5 years to complete all the levels if you start from the foundation level.