A Chartered Accountant is a qualified professional who handles a wide range of responsibilities within the accountancy spectrum. CAs are always in demand due to their technical competence, veracity, and professional standards. Every company requires individuals who possess an incredible knowledge of financial laws and regulations and can handle monetary issues without worrying about the legal ramifications that might jeopardize the business. A CA course is a professional degree that is offered by certified Chartered Accountancy bodies throughout the world and aims to equip students with complete knowledge of Financial Management and Auditing, Fiscal Laws, Regulations, Strategic Financial Management, and Ethics, amongst others. Wondering how to become a chartered accountant? What’s the CA course all about? Find the answer through our blog!
|Full Form of the Degree||Chartered Accountancy|
|Average Fees||INR 2 LPA|
|Minimum Percentage Required||50%|
|Average Salary||INR 7 LPA|
|Employment Sectors||Financial Manager, Accountant, Taxation Consultant, Banker, and many more|
This Blog Includes:
- Why You Should Study Chartered Accountancy?
- Who Should Pursue CA Course?
- What are the Eligibility Criteria?
- What Skills Do You Need to Become a Sucessful CA?
- CA Course Duration
- CA Course Details
- CA Course Fees
- CA Course in India
- Important Dates
- CA in the USA
- Institutes Offering CA Courses Across the Globe
- CA Course Duration After 10th
- CA Course Duration After BCom
- CA Course Duration After MBA
- CA ITT And Orientation Course Duration
- Duration of Articleship in CA Course
- Career Prospects
- CA vs MBA Program
Why You Should Study Chartered Accountancy?
Here are the reasons why studying chartered accountancy would prove beneficial for you:
- The demand for CAs is increasing exponentially in India. Nowadays, many organizations such as corporates, banks, and financial businesses require CAs. Therefore, the career scope would be huge.
- When candidates complete their education and receive a CA certificate, they will be able to start their auditing firm and provide services to numerous clients.
- The candidates will be able to leverage the benefits of high-paying jobs.
- Once the candidates gather proper skills as well as knowledge, they will be able to increase their pay scale.
- Since the exam for CA is extremely hard, only a handful of people will be able to crack it. This is why CAs receive the utmost respect and are regarded as one of the most highly educated candidates in the professional world.
- Candidates will also be able to work in the private sector, government sectors, and startups as well.
Who Should Pursue CA Course?
This is one of the most important things you need to know about the CA course. Remember that pursuing CA will take a lot of passion, determination, study, and hard work so that you can complete your course materials and crack the exam successfully without facing any roadblocks.
The following students or candidates should consider choosing the CA course:
- Candidates who have a keen interest in taxation, auditing, and accounting should choose CA.
- Candidates who have dreams to work in corporate finance by becoming a CA.
- Candidates who want to stay independent and are more interested in taxation practice as well as financial domains.
- Candidates who want to receive a degree from a foreign university.
What are the Eligibility Criteria?
This is another important thing you need to keep in mind if you have plans to pursue a CA course. The eligibility criteria for the CA course are:
- The candidates need to complete their class 12th as well as 10th exam successfully from a reputed educational institute.
- Additionally, the students also need to secure a minimum of 50% marks in their 12th standards.
- The candidates don’t need to face any age restrictions while applying for CA courses.
What Skills Do You Need to Become a Sucessful CA?
Here are the important skills you need to develop if you want to become a sucessful CA:
- Conceptual Understanding
- IT Proficiency
- Hard work and Discipline
- Time Management Skills
- Organisational Skills
- Analytical Skills
CA Course Duration
It generally takes 5 years to complete a CA course and is structured to help you gain footing in the finance industry. The course consists of numerous levels along with an Article ship program that has to be completed before becoming a certified CA. However, it is to be kept in mind that each country has its own set of requirements in terms of certificates and degrees to allow you to work as a CA.
CA Course Details
It’s important to keep the following points in mind:
- Filing corporate tax returns, auditing financial statements, and financial advising are some of the responsibilities of a Chartered Accountant.
- An essential benefit of pursuing a CA Course is that there is no age limit or maximum number of attempts for this course.
- Any individual of any age can attempt the course any number of times to clear it. You can enrol in the course after the 12th standard or after graduation.
- Students planning to pursue CA after graduation will be exempted from appearing for the initial entrance exam for the CA Course. However, you have to score a particular percentage to get into the course.
- Once you have cleared the specified levels, you are required to join Articleship for a definite period of time to gain experience and progress further.
- In the USA, CA is referred to as a Certified Public Accountant or CPA, or the course offered is related to finance and accounting and there are numerous organisations and governing bodies for CAs.
CA Course Fees
Here’s a table that would help you know the fees of the CA course:
|CA Course Fees||Indian Student||Foreigner Student|
|CA Foundation (CPT)||₹10,900||$1065|
|CA Intermediate- Single group||₹28,200||$925|
|CA Intermediate- Both groups||₹33,400||$1500|
|CA Intermediate- Direct||₹33,600||$1500|
CA Course in India
In India, candidates interested in becoming a CA have to take take a series of exams conducted by the Institute of Chartered Accountants of India (ICAI). The three levels of the CA Exam in India are the CA Foundation, CA IPCC (Integrated Professional Competence) Examination, and the CA Final. In order to get the CA certification, candidates need to clear all the levels. One can do this course after class 12th as well as after graduation. The ones who decide on becoming a CA after graduation are exempted from the CA foundation or the CPT Exam. Apart from that, the entire procedure remains the same for everyone.
Here are the importanr dates you should remember while planning to pursue CA course:
|Registration form||Till 23rd February 2033|
|Exam Dates||Group-I: 3rd, 6th, 8th, and 10th May, 2023
Group-II: 12th, 14th, 16th, and 18th May 2023
CA in the USA
In the USA, the CA course is known as CPA that is, Certified Public Accountant. It is the certification that is granted to individuals who are trained in the management of public accountancy. Compared to India, in the USA there is no such thing as called CA or CPA program, instead, there is a CPA examination that one must qualify for to become a CPA. Individuals who possess the right education and experience can qualify for this exam. This is a four-part exam that is to be cleared the duration of 18 months.
Institutes Offering CA Courses Across the Globe
There are numerous institutes that provide CA courses or allied programs. These institutes are mainly the affiliated CA governing bodies of different countries around the world. Some of these institutes include:
- American Institute of Certified Public Accountants
- Canadian Institute of Chartered Accountants
- Institute of Chartered Accountants of Scotland
- Institute of Chartered Accountants of Ireland
- Institute of Chartered Accountants of Zimbabwe
- Institute of Chartered Accountants of Australia
- Institute of Chartered Accountants in England and Wales
- Institute of Chartered Accountants of Srilanka
CA Course Duration After 10th
Earlier, students were eligible for CPT Courses after the 10th class but from July 2017, any new registration is seized under CPT. So, now if you wish to pursue CA Course Duration After the 10th, you need to pass your class 12th to take the CA Foundation test. So, if you do not have to take multiple attempts, you can crack the entire course in 6.5 years.
CA Course Duration After BCom
After BCom or any other graduation, the course of CA takes a minimum of 3 years to crack. However, if you go for any extra attempts, that will take you six months extra for each case. Graduates are allowed to apply for CA intermediate without having to pass the foundation level. However, they have to complete 9 months of article ship training to appear in the CA Intermediate examination and before that, they must undergo ITT and OT programs.
CA Course Duration After MBA
The CA Course duration follows the same path as that for a bachelor’s degree. You can directly apply for the CA Intermediate course and skip the foundation course. However, you have to complete 9 months of article ship training to appear in the CA Intermediate examination and before that, you must undergo ITT and OT programs.
CA ITT And Orientation Course Duration
The complete ICITS Course is for four weeks. This includes Informational Technology Training(ITT) and Orientation Courses. If you have registered for CA Intermediate or have taken a direct entry to the CA course, you can join the ICITS course.
Duration of Articleship in CA Course
Articleship is also known as practical training is for three years. It is compulsory for the candidates to serve under a practising CA for at least two years. For the third year, candidates can either choose to continue the training or opt for industrial training.
There are numerous career options you can discover after completing a CA Course. Some of the major areas offering numerous opportunities in this field include:
- Management Consultancy Services
- Pursue Civil/Government services
- A career in the Insurance Sector
- Investment Banking
Top Companies That Hire Chartered Accountants
The top companies that hire CAs are:
- SS Kothari
- RSM International
- Lodha & Co.
- Desai Haribhakti
- Grant Thorton International
CA vs MBA Program
Students aspiring for a career in Finance and Accounting might get confused in choosing between a CA Course and an MBA. Although both the courses deal with similar subjects, there are various striking features that set them apart. Here is a table listing the major difference between the two:
|No. of Years||4-5 Years||2 Years|
|Subjects||Business Environment & Concepts,
Attestation and Regulation, etc.
Accounting, Marketing, etc.
64,000 INR-71,000 INR approx.
|Differs as per university/institute|
|Passing Percentage||Around 32%||50%|
|Job Titles||Management Accounting,
Sales heads, Operations, etc.
There is a wide range of subjects that are covered under the CA course across different levels. Some of them have been given a rundown below:
1. Auditing and Assurance
2. Business Economics
3. Cost Accounting and Financial Management
4. Direct and Indirect Tax
5. Financial Management
6. Auditing and Professional Ethics
7. Performance Evaluation
8. Information Technology
9. Corporate Laws
10. Strategic Management
11. Business Correspondence and Reporting
12. Logical Reasoning
Though having a command over mathematical concepts can make your CA preparation easier, it is not a mandatory subject to pursue CA.
Mounted in the list of the toughest exams in the world, clearing CA is not an easy feat. However, by following some of the tips below, you can surely pass the exam with flying colours:
1. Go through the syllabus and previous year’s question papers in order to identify your strong and weak sections.
2. Formulate a timetable accordingly.
3. Though all subjects are equally important, spend more time practising sample questions of those sections in which you are weak.
4. Study from limited and good resources so that your revision becomes easier.
5. Make notes on each chapter. This will boost your revision in the end.
6. Bifurcate the subjects into small sections and revise on a regular basis.
7. Eat healthy and nutritious food and exercise regularly to focus better.
Hopefully, this blog provided you with clarity about the CA Course. Regarded as one of the toughest courses around the world, cracking the various exams of CA can be a challenging process. Let Leverage Edu mentors help you master your preparation for these exams so that you can pass them with high scores and get closer to the rewarding career of CA. Call us immediately at 1800 57 2000 for a free 30-minute counselling session.