which course is required to become a chartered accountant?
I want to major in accounts and serve a firm or a company,what do I have to do? #finance #accounting #economics #accountant #commerce
4 answers
Mohamed’s Answer
Chartered Accountant (CA) Course Details :
The Chartered Accountancy Course and Profession in India is regulated by The Institute of Chartered Accountants of India (ICAI), New Delhi.
Step by step procedure :
C. A. Course comprises of 4 Important Levels
1) Common Proficiency Test (CPT)
2) Integrated Professional Competence Course (IPCC)/IPCE
3) Three years Articleship/ Training under a Practicing C.A
4) C. A. Final
The requirements for becoming a chartered accountant are as follows:
Register for CPT:
Register with the Institute of Chartered Accountants of India (ICAI) for Common Proficiency Test (CPT) after passing class 10th examination.
Appear and Pass CPT:
Appear for CPT examination after appearing in 10+2 examination and after completion of period of at least 60 days from the date of registration for CPT with the Board of Studies as on the first day of the month in which examination is to be held, viz., students registered on or before 1st April/1st October will be eligible to appear in June/December examination, as the case may be.
Good Luck
Sandhya’s Answer
Hi Priyanka,
Chartered Accountant (CA) Course Details :
The Chartered Accountancy Course and Profession in India is regulated by The Institute of Chartered Accountants of India (ICAI), New Delhi.
C. A. Course comprises of 4 Important Levels
1) Common Proficiency Test (CPT)
2) Integrated Professional Competence Course (IPCC)/IPCE
3) Three years Articleship/ Training under a Practicing C.A
4) C. A. Final
CPT Subjects According To New Syllabus 2016 Form 2016 new syllabus cpt course will be called as Foundation course. It will have six subjects i.e two subjects are added to previous course. The two new subjects are Business communication and General English. Six subjects of foundation course.
• Paper 1 : Fundamentals OF Accounting
• Paper 2 : Quantitative aptitude
• Paper 3 A: Mercantile Law
• Paper 3 B: General Economics
• Paper 4 : General English
• Paper 4 B: Business Communication
IPCC or Integrated Professional Competence Course is the second level of Chartered Accountancy examinations. A person can take the IPCC Examination after passing CPT and nine months of study. IPCC has two groups of seven subjects. Group – I consists of four subjects and Group – II of three subjects.
A passing grade in IPCC is awarded if the candidate obtains 40% marks in each subject (a subject is attributed 100 marks) and an aggregate of 50% in the aggregate in each group. Benefit of set-off is also available if the candidate appears for both groups together and obtains 50% collectively in both groups, even if he fails to obtain an individual aggregate of 50% in the each group independently.
CA Final Examination is the last and final level of Chartered Accountancy Examinations. Any person who has passed both the groups of IPCC, during the last six months of articleship can take the Final Examination. This exam consists of two groups of four subjects each.
( Reference : https://en.wikipedia.org/wiki/Indian_Chartered_Accountancy_Course )
All the best .
Taheri’s Answer
1. Through Foundation Course route:
(i) Enrol for the Foundation Course after passing Class 10th Examination conducted by an examining body
constituted by law in India or an examination recognized by the Central Government as equivalent thereto.
(ii) Register for the Foundation Course on or before the 1st day of January or the 1st day of July for the
examination to be held in the months of May/June or November/December respectively.
(ii) Appear in Foundation Examination after appearing in the Senior Secondary Examination (10+2 examination)
conducted by an examining body constituted by law in India or an examination recognised by the Central
Government as equivalent thereto and on complying with (ii) above.
(iii) Join Intermediate Course after passing class 12th and FoundationExamination.
(iv) Undergo Four Weeks Integrated Course on Information Technology and Soft skills (ICITSS) consisting of
Courses on Information Technology and Orientation Course at the earliest but these are to be completed
compulsorily before commencement of theirarticleship.
(v) Appear in Intermediate Examination on completion of 8months of study course as on first day of the month in
which the examination is to be held.
(vi) Join articled training after passing either of the Group or Both Groups of Intermediate Course and after
successfully undergoing ICITSS.
(vii) Clear the balance Group (if any) of Intermediate Examination.
(viii) Register for Final Course.
(ix) Successfully undergo Four Weeks Advanced Integrated Course on Information Technology and Soft skills
(AICITSS) consisting of Courses on Advanced Information Technology and Management Communication Skills
during the last two years of practical trainingbut before appearing in the Final Examination.
(x) Appear in the Final Examination on completion of the practical training or whileserving last 6 months of
articled training on or before the last day of the month preceding the month in which the examination is to be
heldafter successful completion of AICITSS.
(xi) Complete articled training of 3 years.
(xii) Pass Final Examination.
(xiii) Enrol as a member of the ICAI and be designated as “Chartered Accountant”.
2. Through Direct Entry route:
I. Commerce Graduates/Post-Graduates (55%) or Other Graduates/Post-Graduates (60%):
(i) Enrol with the Institute for Intermediate Course.
(ii) Undergo Four Weeks Integrated Course on Information Technology and Soft skills (ICITSS) consisting of
Courses on Information Technology and Orientation Course before commencement of their articleship.
(iii) Register for Practical Training of three years.
(iv) Appear in Intermediate Examination on completion of 9 months of Practical Training on first day of the month
in which the examination is to be held.
(v)Appear and pass in both groups of Intermediate Examination.
(vi) Register for CA Final Course.
(vii) Successfully undergo Four Weeks Advanced Integrated Course on Information Technology and Soft skills
(AICITSS) consisting of Courses on Advanced Information Technology and Management Communication Skills
during the last two years of practical training but before appearing in the Final Examination.
(viii) Appear in the Final Examination on completion of the practical training or while serving last 6 months of
articled training on or before the last day of the month preceding the month in which the examination is to be held
after successful completion of AICITSS.
(ix) Complete articled training of 3 years.
(x) Pass Final Examination.
(xi) Enrol as a member of the ICAI and be designated as “Chartered Accountant”.
Provisional Registration: Candidates who are pursuing the Final year of Graduation Course shall be eligible for
provisional registration to the Intermediate Course. Such candidates would be required to submit satisfactory
proof of having passed the graduation examination with the specified percentage of marks within such period not
exceeding six months as from the date of appearance in the final year graduation examination. During the period
of provisional registration, the candidate can undergo and complete ICITSS. It is clarified that in their case, the
practical training will commence only on becoming a graduate with specified percentage of marks. Such
candidates shall be eligible for appearing in the Intermediate Examination on completion of nine months of
practical training. If such candidates fail to produce the proof within the aforesaid period, his provisional
registration shall be cancelled and the registration fee or the tuition fee, as the case may be, paid by him shall not
be refunded and no credit shall be given for the theoretical education undergone.
II. Candidates who have passed Intermediate level examination of Institute of Company Secretaries of India or
Institute of Cost Accountants of India
(i) Enrol with the Institute for Intermediate Course.
(ii) Undergo Four Weeks Integrated Course on Information Technology and Soft skills (ICITSS) consisting of
Courses on Information Technology and Orientation Course at the earliest but these are to be completed
compulsorily before commencement of their articleship.
(iii) Appear in Intermediate Examination on completion of 8 months of study course as on first day of the month in
which the examination is to be held.
(iv) Join articled training after passing either of the Group or Both Groups of Intermediate Course and after
successfully undergoing ICITSS.
(v) Clear the balance Group (if any) of Intermediate Examination.
(vi) Register for Final Course.
(vii) Successfully undergo Four Weeks Advanced Integrated Course on Information Technology and Soft skills
(AICITSS) consisting of Courses on Advanced Information Technology and Management Communication Skills
during the last two years of practical training but before appearing in the Final Examination.
(viii) Appear in the Final Examination on completion of the practical training or while serving last 6 months of
articled training on or before the last day of the month preceding the month in which the examination is to be held
after successful completion of AICITSS.
(ix) Complete articled training of 3 years.
(x) Pass Final Examination.
(xi) Enrol as a member of the ICAI and be designated as “Chartered Accountant”.
Abhishek’s Answer
The CA course is designed to combine theoretical study with practical training. The Chartered Accountancy course is considered to be one of the toughest professional courses both in India and Worldwide [37] with only 3–8% of the students passing in every attempt in Inter and Final Level, though earlier it was mostly in 1-2% range. At Present, pass rate in Foundation is Approx 15%, Inter 5-8 %, Final 3-8 %, that means students who take admission in CA Course, only 0.0225% to 0.096% actually pass CA. For instance,in the November 2013 CA Final exam, the pass percentage was merely 3.11% (Both Groups)[38] As of April 2014,the Institute has 11,75,000 students, studying various levels of the Chartered Accountancy Course.[39] The Chartered Accountancy examinations are divided into three levels.
[40] CPT covers four basic subjects viz. Fundamentals of Accounting, Mercantile Laws, Economics and Quantitative Aptitude. Fundamentals of Accounting carries 60 marks, Mercantile Laws carries 40 marks and Economics & Quantitative Aptitude carries 50 marks each. A person can register for CPT after completing Grade 10 and take the exam after completing High School (Grade 12). Every incorrect answer on the CPT exam carries a 0.25 negative mark. A candidate is considered to have cleared CPT if he/she obtains in a sitting 30% in each of the 4 sections and a 50% aggregate in the entire examination.[41] This amendment was enforced by ICAI on 16 August 2012.The amendment was made public vide ICAI's website notification. CPT exams are held in June and December in paper pencil mode. Mock test/Model test papers are available on the institute website.
IPCC or Integrated Professional Competence Course is the second level of Chartered Accountancy examinations. A person can take the IPCC Examination after passing CPT and nine months of study. IPCC has two groups of seven subjects. Group – I consists of four subjects and Group – II of three subjects.
Group I:
Paper 1 : Accounting
Paper 2 : Business Laws, Ethics and Communication
Paper 3 : Cost Accounting and Financial Management
Paper 4 : Taxation
Group II:
Paper 5 : Advanced Accounting
Paper 6 : Auditing and Assurance
Paper 7 : Information Technology and Strategic Management
A passing grade in IPCC[42] is awarded if the candidate obtains 40% marks in each subject (each subject is attributed 100 marks) and an aggregate of 50% in the aggregate in each group(or 50% of total marks in case of both groups). Benefit of set-off is also available if the candidate appears for both groups together and obtains 50% collectively in both groups, even if he fails to obtain an individual aggregate of 50% in the each group independently.
CA Final Examination is the last and final level of Chartered Accountancy Examinations. It is considered as one of the toughest exams in the world.[37] Any person who has passed both the groups of IPCC, during the last six months of articleship can take the Final Examination. This exam consists of two groups of four subjects each.
Group I:
Paper 1 : Financial Reporting,
Paper 2 : Strategic Financial Management,
Paper 3 : Advanced Auditing and Professional Ethics,
Paper 4 : Corporate and Allied Laws,
Group II:
Paper 5 : Advanced Management Accounting,
Paper 6 : Information Systems Control and Audit,
Paper 7 : Direct Tax Laws
Paper 8 : Indirect Tax Laws.
The passing grade for this exam is the same as the second level, i.e. IPCC, as mentioned above.
ICAI conducts CPT exams in June and December, IPCC and Final examinations in May and November each year. Examinations are conducted in major cities in India and other countries such as Abu Dhabi (U.A.E.), Dubai (U.A.E.) and Kathmandu (Nepal). ICAI updates the content and format of examinations periodically keeping in view the technical progress and changes in practice of the profession. The ICAI last revised its training course for membership in 2008.[43]
Several institutions conduct online and offline coaching classes for the CA examinations.