Chartered Accountancy (CA)
The Institute of Chartered Accountants of India (ICAI), a statutory organization, governs and upholds the chartered accountant profession in India, encompassing accounting, auditing, taxation, and financial assessment for individuals/organizations. This profession involves tasks such as filing tax returns, auditing financial statements, registering businesses, maintaining investment records, and preparing financial reports. Additionally, a formally trained CA is qualified to offer consulting services to clients.
The Logician Perspective
Why Chartered Accountancy?
The competence of the company's CA is vital for financial stability as they offer advice and safeguard against fraud and financial irregularities. The CA field provides excellent career prospects with steady advancement, a lucrative title, and increasing salary packages based on experience and expertise.
Course Structure
The CA course comprises three levels: CA Foundation, CA Intermediate, and CA Final. Certification also mandates a 2-year articleship.
The Foundation course, the initial stage of the CA-India program, consists of four papers and can be completed in four months by a dedicated student.
GROUP 1:
Paper 1 : Accounting
Paper 2 : Business Laws
Paper 3 : Quantitative Aptitude
Paper 4 : Business Economics
Exam Pattern & Pass Percentages:
Exams are held in May and November annually, requiring a minimum of 40% in individual subjects and 50% in aggregate.
Qualification Required to Join CA Foundation Classes:
Any student who has passed Plus Two (10+2) can join for this course in parallel to their other academic pursuits.
What Next?
Once qualified, one can promptly move on to CA Intermediate.
The Intermediate course, the second tier of the CA-India program, consists of six papers in 2 groups and can be completed in a year by a dedicated student.
GROUP1
Paper 1 : Advanced Accounting
Paper 2 : Corporate & Other Laws
Paper 3 : Taxation(Section A : Income Tax Law Section B: Goods & Services Tax)
GROUP 2:
Paper 4: Cost and Management Accounting
Paper 5 : Auditing & Ethics
Paper 6 : Financial management & Strategic management (Section A: financial management)
Paper 6 : Financial management & Strategic management (Section B: strategic management)
Paper 6 : Financial management & Strategic management (Section B: strategic management)
Exam Pattern & Pass Percentages:
Exams are held in May and November annually, requiring a minimum of 40% in individual subjects and 50% in aggregate.
Qualification Required to Join CA Intermediate Classes:
CA Foundation graduates, or degree graduates with a minimum of 55% in commerce or 60% in non-commerce backgrounds, are eligible to enroll in the intermediate level.
What Next?
A CA Intermediate graduate is highly sought after for various management. However, it is required to pursue a 4-week ICITSS training, a 2-year articleship, and the CA Final course for expanded opportunities and the prestigious CA title.
The Final course, the third tier of the CA-India program, consists of six papers in 2 groups and can be completed in a year by a dedicated student.
GROUP 1:
Paper 1: Financial Reporting
Paper 2: Advanced Financial Management
Paper 3: Advanced Auditing, Assurance and Professional Ethics
GROUP 2:
Paper 4: Direct Tax Laws & International Taxation
Paper 5: Indirect Tax Laws
Paper 6: Integrated Business Solutions (Multidisciplinary Case Study with Strategic Management)
Self-Paced Online Modules- SET A: Corporate and Economic Laws
Self- Paced Online Modules- SET B: Strategic Cost and Performance Management
Exam Pattern & Pass Percentages:
Exams are held in May and November annually, requiring a minimum of 40% in individual subjects and 50% in aggregate.
Qualification Required to Join CA Final Classes:
Students who have finished CA (Intermediate) along with a four-week ICITSS before practical training can enroll at this level. Additionally, completing 2 years of articleship and 6 month study period is a prerequisite for registering for the CA Final exams.
FAQ
What are the career opportunities for Chartered Accountants in India?
Chartered accountancy course offers the students a dream career in the specialized areas of Accounting, Auditing, Corporate Finance, Corporate Laws, and Taxation.
What is the salary of a CA?
CAs are in a great demand in almost all the industries in India and overseas. The average minimum salary of a newly qualified CA varies from Rs. 6 lakhs to 7 lakhs per annum. The salary can be as high as 45 lakhs p.a. if the CA is employed overseas. The CTC can be different for different geo locations and can also differ from company-to-company based on normal industry practices.
Can CA be done by non-commerce students?
Admission to the CA course requires a minimum educational qualification of Class XII from a recognized board. Students from any stream, not necessarily commerce, can apply. Non commerce candidates who have successfully completed Class XII exams simply need to enroll in the Foundation Course.
Which group is to be written first?
The decision depends entirely on the student. It is advisable to choose the group in which you feel more confident and have completed your preparations.
Who can register for CA Foundation?
A student who has passed 10th can register, but can only attend the exam after completing 12th.
Course Explained
Chartered Accountancy
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