Considered as one of the toughest courses in the world, a Chartered Accountancy (CA) program equips an individual with the necessary know-how of accountancy concepts, theories and standards. On the successful completion of the course, an individual is authorised to be entitled with the designation of a Chartered Accountant (CA). For CA course in India, the regulating authority is the ICAI or the Institute of Chartered Accountants of India. In this blog, we will discuss the process to pursue CA after graduation detailing its various levels whether through CPT or direct scheme, eligibility, duration and fee-related specifications.
Important Details to Become CA after Graduation
- How to Pursue a Chartered Accountancy Course?
- Duration of the Chartered Accountancy Course
- CA After Graduation: Eligibility Criteria
- Fees for CA After Graduation
- CA Examination
- CA After Graduation: Career Prospects
- CA After Graduation: FAQs
How to Pursue a Chartered Accountancy Course?
There are two popular ways through which students can aim to obtain a CA qualification. You can pursue this qualification either after completing 12th or attaining a bachelor’s degree. Here’s a detailed description of these two paths you can choose from:
|Minimum Duration||4.5 Years||3 Years|
|IPCC Eligiblity||9 months after IPCC||9 months after Articleship|
|Articleship Eligibility||After group I of IPCC||After Registration|
CPT Route: Completing Class XIIth
Standard 12th appearing/pass out students who are looking to undertake the CA course have to sit for the Common Proficiency Test (CPT) which has been renamed as CA Foundation. After successfully clearing it, the candidate needs to appear for both groups of the CA IPCC exam and then ultimately for the CA final exam. Along with this, they will have to complete 9 months of practical training called articleship as well. Take a look at the following table for the dates and deadlines for CA Foundation 2020.
|Last Date to Register||31st Dec 2019|
|Availability of Form for CA Foundation||5th Feb 2020|
|Last Date to Fill the Application||26th Feb 2020|
|Last Date to Fill the Application (With Late Fees)||4th March 2020|
|Admit Card Available||Yet to be decided|
|Result Announcement||Mid-July 2020|
Don’t Forget to Go Through the CA Final Syllabus!
Direct Entry Scheme: After Graduation
A student can signup for a course to pursue CA after graduation as well and can appear for the CPT, i.e. erstwhile CA Foundation exam. This is one of the major reasons why graduate students look for the answers to How to Become a Chartered Accountant. Candidates with a specific percentage in graduation can directly apply for articleship and IPCC Exams. Further, the Direct Entry scheme for CA exempts students from the CPT exam and you can directly appear for the CA Intermediate level exam. The steps constituting the Direct Entry Scheme are mentioned below:
- Enrol for IPCC both groups
- 100 hours of Information Technology Training
- Orientation Course
- Complete 9 months of mandatory Practical Training (Articleship)
- Appearing for both groups of the IPCC exam
- CA Final exam
- Awarding of the CA designation
Also Read: BAF Course
Duration of the Chartered Accountancy Course
The duration for the two routes of the CA certification varies, i.e.
- For a student wanting to pursue the CA course after class XIIth, they are required to take the CPT route which spans across a minimum of 4.5 years.
- For a candidate aiming to become CA after graduation, the Direct Entry route will encompass a minimum of 3 years.
Further, when it comes to the maximum duration, there is no specified time period as the number of attempts as well as age limit has been removed by the ICAI.
CA After Graduation: Eligibility Criteria
Following are the eligibility requirements you need to fulfil in order to apply for CA after graduation or completing XIIth grade:
- Students must have secured at least 55% marks in their graduation/post-graduation if from a Commerce-related field. They need to have studied at least three commerce-related subjects such as Accounting, Auditing, Economics, Corporate Laws, Taxation, Costing amongst others.
- On the other hand, if your graduation/post-graduation is from a non-commerce background, the minimum marks can climb up to 60%.
- You need to clear the Company Secretary (CS) intermediate exams conducted by the Institute of Company Secretaries of India or the (CWA) intermediate exams conducted by the Institute of Cost Accountants of India.
Fees for CA After Graduation
The fees for pursuing CA after graduation hovers around 19000-27000 INR. This includes registration fees, article registration fees, orientation course fee and information technology fee. Visit the official ICAI website for more details.
There are three levels for the CA exam which you need to qualify in order to attain this sought-after designation. Let’s take a look at these three exam levels and what they entail:
- Common Proficiency Test (CPT): The CPT or CA Foundation is a preliminary accounting exam. It carries 200 marks and tests an individual on the Fundamentals of Accounting, Mercantile Laws, General Economics and Quantitative Aptitude and other important topics that are a part of the CA Foundation Syllabus.
- Integrated Professional Competence (IPCC): Advanced Accounting concepts are specifically dealt with during the two-group IPCC exams. The vast syllabus of IPCC encompasses Business Ethics and Communication, Costing, Taxation, Advanced Accounting, Auditing, Insurance, Information Technology, Strategic Management etc. Students in their final year graduation are also allowed to appear for this exam.
- CA Final: The final stage of the CA course is the most difficult one to crack. It tests highly complex and advanced topics like Financial Reporting, Professional Ethics, Strategic Finance, Advanced Management, Accountancy, etc. Passing this level paves the way for you to head closer to acquiring the CA qualification.
Also Read: Career in Commerce
CA After Graduation: Career Prospects
There are a variety of options available for a career in commerce stream. As the CA course structure and curriculum is highly rigorous and incorporates practical training and information technology training, it is highly regarded by companies and recruiters. Further, CAs can also choose to combine their knowledge with other qualifications like MBA, CFA, FRM Exam, etc. Some of the common career options for CA after graduation have been outlined below.
- Internal Auditor
- Cost Accountant
- Tax Specialist
- Investment Banker
- Asset Manager
- Finance Manager
- Tax Auditor
CA After Graduation: FAQs
Q1: How many years is a CA course after graduation?
On average, the overall duration to complete CA after graduation is close to 3 years. However, the duration is extended by 6 months with every failed attempt.
Q2: How can I become a CA after graduation?
Candidates with a graduate degree need not appear for the CA-CPT, they can directly sit for the IPCC exam. After registering for the same, students have to wait for 9 months to give their first attempt of the examination after doing articleship. The exam is conducted in the months of May and November every year.
Q3: Is it good to do CA after graduation?
Pursing CA after graduation will provide the opportunity to become a CA in just 3 to 4 years provided the student passes all the exams in a single go. ICWA-CWA after graduation can be done in 3 years.
Q4: Can a graduate apply for CA?
Yes, graduate students can definitely become CA. Although, they do not require to appear for the CA foundation exam. These candidates are eligible to give the CA intermediate exam after 9 months of professional training.
We hope that this blog provided you with insightful analysis of the CA course and the process of pursuing the CA after graduation. If you are uncertain about where you should pursue a CA course from or looking forward to studying other accountant courses, then AI-enabled algorithm at Leverage Edu can help you select an ideal program that can guide you in tackling the challenging path of a CA.