Chartered Accountancy is a lucrative career option for Students of Class XII. Particularly so, for Students from Commerce stream. Liberalization, Privatization and Globalization have opened up vast vistas in Career growth of CAs. Job opportunities are emerging with rapid pace. Under Companies Act, CAs are the only professional Class authorized to be Auditors for the Companies in India.
Now we will travel through the details of
How you can Become Chartered Accountant in India.
Institute of Chartered Accountants of India (ICAI)
CA Qualification in India is conferred by Institute of Chartered Accountants of India (ICAI).
CA Qualification commands both professional and social esteem.
ICAI was established in July 1949, under the Chartered Accountancy Act enacted by Parliament.
ICAI’s Functions for Prospective CAs are:
- Impart theoretical education.
- Arrange and monitor practical training.
- Hold qualifying examinations.
- Grant membership to successful candidates.
- Grant Certificate of Practice (COP) to Members intending to practise Accountancy Profession.
The Board of Studies (BOS) under ICAI is responsible for formulation and implementation of policies and programs relating to education of students.
3 Stages to pursue Course in Chartered Accountancy are:-
In addition, Practical Training via Articleship Route forms an integral part of the CA Curriculum.
ENTRY ROUTES TO CA COURSE
There are Two Routes to pursue CA Course in India.
- Foundation Route.
- Direct Entry Route.
1. FOUNDATION ROUTE
Candidates who have appeared for class XII Examination.
- 30th June for November Examination.
- 31st December for May Examination.
STEPS IN PROCESS OF FOUNDATION COURSE
- Register with BOS after appearing in Class XII Examination till June 30th/December 31st.
- Eligible to appear in Nov/May Exam after passing Class XII Examination.
- Qualify Foundation.
STEPS IN PROCESS OF INTERMEDIATE COURSE
- Register For Intermediate Course.
- Appear in Intermediate Exam after Study Period of 8 months and pass in either or Both Groups of Intermediate.
- Complete Four Weeks ICITSS Course before the commencement of Practical Training.
- Register for 3 years of Practical Training (PT).
STEPS IN PROCESS OF FINAL COURSE
- Register for CA Final Course after passing Both Groups of Intermediate.
- Successfully complete 4 weeks Advanced ICITSS Course in last 2 years of Practical Training.
- Appear in Final Exam during last six months of PT and after successful Completion of Advanced ICITSS Course.
- Complete Practical Training.
- Qualify Final Exam.
- Become a Member of ICAI.
2. DIRECT ENTRY ROUTE
Following categories of students are allowed Direct Entry to Intermediate Course:-
- Commerce Graduates/ Post-Graduates with minimum 55 % marks.
- Other Graduates/Post-Graduates with minimum 60 % marks.
STEPS IN PROCESS OF DIRECT ENTRY ROUTE
- Register for Intermediate Course and undergo Four weeks ICITSS.
- Join 3 years Practical Training and appear in Intermediate Exam after 9 months of Practical Training.
REGISTRATION PROCEDURE FOR
CA FOUNDATION – Register Now
CA INTERMEDIATE – Register Now
CA FINAL – Register Now
INTEGRATED COURSE ON INFORMATION TECHNOLOGY AND SOFT SKILLS (ICITSS)
ICITSS Course consists of:
- Information Technology (IT)
- Orientation Course (OC)
Duration 15 days
This is essential before registering in Articleship Training.
Objectives of ICITSS:-
- To familiarize the students with diversified field of Accountancy Profession.
- To make students tech-savvy.
- To develop Communication and Presentation Skills of Students.
- To foster ethical values amongst Students.
IT Course Rs 6500
OC course Rs 7000
REQUIREMENTS FOR PASSING EXAMINATIONS
A Student who fails in one more Papers in the Group, but secures a minimum of 60 percent (%) marks in any Paper shall be eligible for Exemption in that Paper(s) in the next three following Examinations.
ADVANCED INTEGRATED COURSE
INFORMATION TECHNOLOGY AND SOFT SKILLS (AICITSS)
AICITSS Courses consists of:
- Advanced Information Technology (Advanced IT)
- Management and Communication Skills (MCS)
Duration 15 Days
This Course has to be completed during last two years of Practical Training and it is mandatory before appearing in Final Examination.
Fees Rs. 7500
PRACTICAL TRAINING/ARTICLED TRAINING
Articleship Training provides the Students an
opportunity to acquire
on-the-job experience of a professional nature. Its objective are:-
- To inculcate a disciplined attitude to hard work.
- To develop necessary skills in applying theoretical knowledge to practical problems.
- To provide exposure to overall socio-economic environment in which organisations operate.
- To develop ethical values.
Duration 3 Years
WHEN TO COMMENCE ARTICLESHIP
- For Foundation Route Students :-
After completing Course on ICITSS and passing either or both Groups of Intermediate Examination.
- For Direct Entrants :-
After registration in Intermediate Course and Completion of ICITSS.
- For Students of ICSI and ICWA
After completing ICITSS and passing either Group or Both Groups of Intermediate Examination.
ICAI imparts extensive Training on aspirants of career in Chartered Accountancy. A good mix of theory and practical knowledge tests the sufficiency of:
- Technical Competence.
- Professional Skills and Values.
- Attitude acquired during Practical Training.
Assessment Pattern reflects gradual progression from