CA Course in India

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Considered as the dream career of many, Chartered Accountant (CA) is one of the reputable certifications in India and is pursued by a majority of commerce students. Conducted by the Institute of Chartered Accountants of India (ICAI) in the country, it is also considered as one of the toughest exams in the world and is often organised by the national CA institutions of the specific country. Although, it is a challenging one to clear yet the expected outgrowth of the program turns out to be phenomenal. As the requirement of Chartered Accountants is always there in every organisation, earning this certification is quite a difficult quest. If you are aspiring to build a career in Accountancy and are aspiring to avail a plethora of career prospects in the same, then Chartered Accountancy course can be a suitable option to opt for. To help you understand the process of how to become a Chartered Accountant, this blog aims to explain the essential aspects of the CA course in India. 

CA course in India: An Overview 

Chartered Accountancy (CA) involves in-depth management of auditing, financial accounts, business, budgeting, taxation, strategy etc. There are varied reasons because of which a multitude of young minds are allured by this profession. But as we all know, this one is a hard nut to crack. For those who successfully qualify all the examinations of the CA course in India are all set to acquire the esteemed position of Chartered Accountant. Thus, CAs are those professionals who are rigorously trained in various aspects of the functioning of an economy to managing the finances or advising people on financial management. This program is of three levels i.e. CA Foundation, CA IPCC, CA Final.   

As mentioned above the CA course in India is divided into three levels and here is a table elucidating the individual eligibility criteria of each of these stages:

Levels  Entry Requirements for CA Course in India
CA Foundation  Candidates must possess the minimal schooling of 10+2.

Timely registration for the examination in the months of
May and November.

CA IPCC  Formal schooling of 10+2 and candidates have to
qualify the CA Foundation exam. 

Those with a bachelor’s or master’s degree in commerce or
its related fields are exempted from the foundation exam and
can directly enter at this level.

The candidate must have around 55-60% marks in graduation or
post-graduation. 
(Know more about CA IPPC Eligibility)

CA Final  After qualifying both the groups of the CA IPCC level exam,
students have to do the following:

1. Complete an articleship of 3 years before registering for
the Final level exam;
2. Finish their training of four weeks in the Advanced Integrated
Course on Information and Technology
and Soft Skills (AICITSS)

Now let us have a look at the different levels of the CA Course in India in a detailed manner:

Important Dates

CA Course in India: Dates
Credits: ICAI.org

CA Foundation Exam will be held on 24th, 26th, 28th & 30th June 2021!

CA Foundation 

CA Foundation is an entry-level examination for the CA aspirants consisting of 4 papers and having a flexible eligibility criteria as students from any stream can appear. There are objective type questions with negative marking for incorrect answers. The test comprises 2 sessions and the individual duration of each session is 2 hours. Hence, the total duration of the exam is 4 hours. The essential topics covered under this level of the CA course in India are: 

  • Business Mathematics
  • Logical Reasoning
  • Business Economics 
  • Business Correspondence and Reporting

The ICAI requires the following conditions to be completed before one appears for the CA foundation: 

  • The candidate must have completed their 10+2 examination i.e. senior secondary level or its equivalent from a recognized board or university. 
  • Applicants must complete a rigorous training period of 4 months and register by 31st June (for the November exam) or 31st December (for the May exam). This is done so as to establish that only focused candidates appear for it. 

Take A Detailed Look at CA Foundation Syllabus here.

CA IPCC  

After qualifying the necessary examination with flying colours, candidates become eligible to enter the second level i.e CA Integrated Professional Competence Course (CA IPCC). The aim of this stage of the CA course in India is to establish strong basics of the students thus helping them secure an articleship which is mandatory at this level. More emphasis is laid on the theoretical aspects of Chartered Accountancy which is further complemented by the practical learning in articleship. This level comprises 2 groups offering 7 subjects in total. Here are some core topics in the two groups:

  • GST Laws 
  • Environment and Ethics 
  • Company Accounts
  • Payment Bonus Act of 1965
  • Accounting for Special Transactions 

CA Final

Once the candidates clear the 2 groups of CA IPCC examination and are through with 3 arduous years of intense articleship in firms, they can finally start preparing for the concluding milestone of their journey of CA course in India. This level is also bifurcated in two sections and has a total of 8 subjects. Following are some of the major topics of CA Final:

  • Value Added Statement 
  • Valuation of Liabilities
  • Foreign Exchange Exposures and Risk Management 
  • Merger and Acquisition 
  • Risk-based Auditing 

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 Course Fee

CA Course Fees Fees
CA Foundation (CPT) ₹10,900
CA Intermediate- Single group ₹28,200
CA Intermediate- Both groups ₹33,400
CA Intermediate- Direct ₹33,600
Articleship Fee ₹2,000
CA Final ₹39,800

How to Crack the CA Exam?

YouTube: Deepika Rathi CA Talks

Books for CA Exams

Here are some important books to refer to for CA Exams 2021:

CA Foundation 

  1. Shuchita Prakashan Scanner CA Foundation on Principles And Practice Of Accounting (New Syllabus) Paper
  2. Shuchita Prakashan Scanner CA Foundation on Business Laws And Business Correspondence And Reporting (New Syllabus) Paper – 2 For May 2020 Exam
  3. Shuchita Prakashan Scanner CA Foundation on Business Mathematics, Logical Reasoning And Statistics (New Syllabus) Paper – 3 For May 2020 Exam
  4. Shuchita Prakashan Scanner CA Foundation on Business Economics And Business And Commercial Knowledge (New Syllabus) Paper – 4 For May 2020 Exam
  5. Business Economics And Business And Commercial Knowledge Study Material For CA Foundation
  6. Introduction to Financial Accounting

CA IPCC

  1. Law For CA – PCC /IPCC
  2. CA Intermediate Study Guide 2021
  3. Handbook On Income Tax For CA Inter / IPCC
  4. Goods & Services Tax (GST) Law & Practice With MCQs
  5. Corporate Governance, Ethics And Social Responsibility
  6. Auditing And Assurance: Theory And Practice
  7. Advanced Cost Accounting
  8. Business Ethics And Communication (CA-PCC / IPCC / ATC)
  9. CA-IPCC Auditing And Assurance (For CA-IPCC Group-II)

CA Final

  1.  CA Final Study Guide 2021
  2. Indirect Taxes Containing GST, Customs, FTP & Comprehensive Issues
  3. Strategic Management
  4. Mergers And Acquisitions: Strategy, Valuation, And Integration
  5. International Accounting
  6. Financial Management eBook
  7. Derivatives And Risk Management
  8. Tulsian’s Financial Reporting

Career Scope After CA Course in India

After completing the famed CA course in India and attaining this certification, your gateway to a plethora of job opportunities in several sectors opens up. To convert your career aspirations into success, you need to begin with an impressive CA fresher resume. Here are some of the major sectors in which Chartered Accountants can work after completing this program: 

  • Income Tax Department 
  • Auditing Firms 
  • Insurance and Banking Sector
  • Tax Advisory Firms 
  • Law Firms 
  • Finance Companies 
  • Stock Broking Firms
  • Investment Banking Firms  
  • Asset Management Firms 
  • Corporate Firms 
  • CA Firms 

Here are some popular job profiles with salary structures:

Job Profiles Salary per annum (In INR)
Accounts Clerk Rs. 4,00,000
Business Services Accountant Rs. 5,50,000
Chief Finance Officer Rs. 8,00,000
Cost Accountants Rs. 7,50,000
Auditors Rs. 485816

FAQs

What does CA stand for?

CA stands for Chartered Accountancy and it involves in-depth management of auditing, financial accounts, business, budgeting, taxation, strategy etc.

What is the eligibility criteria for CA Courses in India?

The eligibility criteria differs depending upon the level of entry and the exam.

When will the CA exams be conducted?

The dates for CA foundation exam is 24th,26th, 28th and 30th June and the other exams will be conducted after the 5th of July 2021.

What is the career scope after CA?

After completing CA, professionals are eligible for working sectors like:
Income Tax Department
Auditing Firms
Insurance and Banking Sector
Tax Advisory Firms
Law Firms
Finance Companies
Stock Broking Firms
Investment Banking Firms
Asset Management Firms

Thus, we hope that this blog has provided you with all the key features of the CA course in India. If you are planning to pursue Accounting courses and don’t know where to begin, reach out to our Leverage Edu experts and we’ll guide you in selecting a suitable program and university that aligns with your interests and aspirations thus helping you take an informed step towards a fulfilling career.

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