Considered as one of the toughest courses in the world, a Chartered Accountancy (CA) program equips an individual with the necessary know-hows of accounting concepts, theories and standards. On the successful completion of a CA course, an individual is authorised to be entitled with the designation of a Chartered Accountant (CA). In India, it is regulated by 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, eligibility, duration and fee-related specifications.
Examinations to Become CA after Graduation
There are three levels which you need to qualify in order to attain the CA designation. Let’s take a look at these three exam levels and what they entail:
- Common Proficiency Test (CPT): The CPT 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.
- Integrated Professional Competence (IPCC): Advanced Accounting concepts are specifically dealt with during the two-group IPCC exams. The vast syllabus of IPPCC 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: Accountant Courses
Eligibility Criteria for Pursuing CA after Graduation
Following are the eligibility requirements you need to fulfil in order to apply for a CA course:
- 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.
Different Paths to Attain a CA Qualification
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:
CA after 12th Standard: The Traditional CPT Route
Standard 12th appearing/pass out students who are looking to undertake the CA course have to sit for the Common Proficiency Test (CPT). After successfully clearing it, the candidate needs to appear for both groups of the 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.
CA after Graduation: Direct Entry Scheme
Students need to undergo some major steps before they can attain the qualification of CA after graduation. 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
For those who choose to go for CA after graduation, the duration of the course is a minimum of 3 years. There is no upper limit.
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.
CA after Graduation: Career Prospects You can Explore
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, etc. Some of the common career options for CAs have been outlined below.
- Internal Auditor
- Cost Accountant
- Tax Specialist
- Investment Banker
- Asset Manager
- Finance manager
- Tax Auditor
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, the 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.