CA Subjects

CA Subjects

Chartered Accountancy is not just a course but a social responsibility for which individuals are trusted by the public, corporate firms, government authorities and other pillars of the economy. With a reputation of being one of the highest degrees of integrity and professionalism in the country, Chartered Accountants (CA) are considered to be the most prestigious experts in the field of business and finance. Are you willing to take the opportunity to pursue this valuable course? Are you looking for CA subjects that you should master to crack all the levels of this one of the toughest exams in the world? Then here’s a comprehensive guide on Chartered Accountancy and various subjects that are a part of the CA examination curriculum.

What is Chartered Accountancy?

Chartered Accountancy is a professional course for individuals to qualify to take on a number of specific activities within the spectrum of accountancy. These activities can be auditing financial statements, financial advising or filing of corporate tax returns, the knowledge of which is imparted through scores of CA subjects.

How to Become a CA?

CA Course

Generally running for a period of 3-4 years, depending on how long you take to clear the exams, the Chartered Accountancy course is a gateway to one of the most reputed professions across the world. Upon completing class 12th with the Commerce stream, one can appear for the exams. Enlisted are some of the top institutes governing the Chartered/Certified Public Accountancy program all across the world:

  • Institute of Chartered Accountants of India (ICAI)
  • American Institute of Certified Public Accountants (AICPA)
  • Canadian Institute of Chartered Accountants (CICA)
  • Institute of Chartered Accountants in England and Wales (ICAEW)
  • Institute of Chartered Accountants of Scotland (ICAS)
  • Chartered Accountants of Ireland 
  • Institute of Chartered Accountants of Australia (ICAA)

Find out the way to become a CA after graduation through our blog!

CA Course in India

Who is a Chartered Accountant?

A designation of Chartered Accountant is worldwide referred to as a professional accountant or Certified Public Accountant (CPA). This qualification opens the door to a vast range of exciting career opportunities in the sphere of business and finance. These professionals can wear a number of hats but the specialization and the CA subjects they choose determines under which umbrella they will work. There are typically 4 areas in which professional accountants serve:

  1. Taxation
  2. Applied Finance
  3. Financial Accounting and Reporting
  4. Management Accounting

CA Subjects- Why Pursue a Professional Career in CA?

Chartered Accountants are recognized for their professional standards, technical competence and veracity. There is a constant demand for these professionals all around the world, because of tremendous growth in the business and finance sector.

The Chartered Difference
You do not need prior work experience to pursue a course in CA. However, you get an opportunity to undergo articleship and training while pursuing the course. And the latter part is important to get a license to professionally work as a CA.

Recognized Qualification
A professional qualification in Chartered Accountancy has true global mobility with its education and crucially the training recognized internationally.

Exam Success|
CA has an increasing career opportunity due to its global recognition as one of the highest-respected positions. After successfully clearing all the stages in the CA examination along with subsequent training, there are ample well-paying job for individuals in any of the top business and finance companies. 

The flexibility of Study Programme
If you’re planning to enroll for a CA course, you must know that CA is a full-fledged professional degree offered by a recognized institute governing CA program in a specific country. However, there is no compulsion to attend classes regularly which opens up the feasibility for students to study various CA subjects at their own pace.

A Brief about CA Examination and CA Subjects

Here are the important details which you should know about how to become a Chartered Accountant:

  1. The students should register with the recognized authority governing CA programs like ICAI.
  2. They need to qualify 3 modules of the course: CA Foundation Exam, Intermediate Course (2 groups) and CA Final which consists of numerous CA subjects.
  3. After you have cleared the first level i.e, CA Foundation Exam and the first group of Intermediate Course, you are eligible to begin your articleship under CA firm or a practicing CA.
  4. Till the time you complete 3 years of practical training, your CA Final is due which you must clear.
  5. Other than this, you have to complete a computer-related training and an Orientation Course (OC) to improve your information technology and for soft skill development.
  6. Once everything is complete, students will attain their professional CA degree.

Note: If you are wondering about how to pursue CA after Graduation then the undergraduate degree holders can skip the CA Foundation exam and enroll directly with the ICAI for the Intermediate Course. 

CA Subjects

In order to become a successful Chartered Accountant, one needs to combine innovative education with mentored work experience. This helps to develop the ability to analyze and interpret business problems and find out dynamic solutions. Perhaps, this is the reason why a CA has the edge over its counterparts. Below listed are the important CA subjects and topics covered in each of its examination module:

CA Subjects in CA Foundation Course or CPT (Common Proficiency Test)

Paper Number Subject Name
Paper 1 Principles and Practices of Accounting
Paper 2  Business Law & Business Correspondence and Reporting
Part I: Business Law
Part II: Business Correspondence and Reporting
Paper 3 Business Mathematics and Logical Reasoning & Statistics
Part I: Business Mathematics and Logical Reasoning
Part II: Statistics
Paper 4 Business Economics & Business and Commercial Knowledge
Part I: Business Economics
Part II: Business and Commercial Knowledge

CA Subjects in Intermediate Course or IPCC (Integrated Professional Competence Course)

Paper Number Subject Name
Paper 1 Accounting
Paper 2 Corporate Laws & Other Laws
Part I: Corporate Laws
Part II: Other Law
Paper 3 Cost and Management Accounting
Paper 4 Taxation 
Part I: Income Tax Law
Part II: Indirect Tax Laws
Paper 5 Advanced Accounting
Paper 6 Auditing and Assurance
Paper 7 Enterprise Information System & Strategic Management
Part I: Enterprise Information System
Part II: Strategic Management
Paper 8  Financial Management & Economics for Finance
Part I: Financial Management
Part II: Economics for Finance

CA Subjects in Final Course [New Scheme]

The CA subjects in the final level of the exam are grouped into 2 categories namely Group 1 and Group 2. Both of which contains 4 papers each.

Paper Number  Subject Name
Paper 1 Financial Reporting
Paper 2 Strategic Financial Management
Paper 3 Advanced Auditing and Professional Ethics
Paper 4 Advanced Auditing and Professional Ethics
Paper 5 Strategic Cost Management and Performance Evaluation
Paper 6 Elective [Refer to the table given below]
Paper 7 Direct Tax Laws
Part I: Direct Tax Laws
Part II: International Taxation
Paper 8  Advanced Indirect Tax Laws
Paper 6A: Risk Management Paper 6C: International Taxation Paper 6E: Global Financial Reporting Standards
Paper 6B: Financial Services and Capital Markets Paper 6D: Economic Laws Paper 6F: Multidisciplinary Case Study

Advancing Studies and Courses

Undoubtedly, you gain almost everything you wished in your life after becoming a CA. But the knowledge acquired through CA subjects when combined with some other courses can give an edge over the other roles in an organization:

Also Read: How to Become a Company Secretary?

Job Opportunities in Chartered Accountancy

Chartered Accountants take on the role of business advisors in high-level strategic decisions, driving business, increasing market share for clients or employers and improving profit margins. Other than this, many CAs are seen using their skills and expertise to form their own businesses and becoming highly successful entrepreneurs.

Here is a list of top recruiters of Chartered Accountants.

  • Audit and Taxation
  • Tax Advisory Firms
  • Cost Accountant
  • Project Finance or Financial Advisory
  • Banking and Financial Services (Government and Private)
  • Investment Banking Firms
  • Insurance Sector
  • Corporate Houses (includes planning and budget team
  • Law Firms
  • Chartered Accountant Firms
  • Outsourcing
  • Academics

The rewards that goes with professional accountants are significant. Below is a list of major job profiles for a CA to work on:

  • Auditors
  • Tax Specialist (Direct and Indirect Taxes)
  • Cost Accountant
  • Investment Banker
  • Manager or Assistant Manager in Accounts, Finance, Credit, etc
  • Asset Manager
  • Consultant

Also Read: Short Term Courses in Finance – 2020 List

CA Subjects: Frequently Asked Questions

Is pursuing BCom necessary for CA?

No. Pursuing BCom is not a mandatory requirement. One can start with the course on completion of class 12th.

Who is eligible to appear for CA Final exam?

All those who have completed 2.5 years of articleship and have cleared the previous levels are eligible. Further, if the applicant has never appeared for the old scheme and is planning to do it for the new scheme then it is mandatory to complete AICITSS.

What is AICITSS?

Advanced Integrated Course on Information Technology and Soft Skills or AICITSS consists of management skills and IT course which has been introduced in the new scheme and is in existence since 2017.

Are the statement of marks issued?

Yes. It is sent to the qualifying as well as non-qualifying candidates. Those who applied but didn’t appear for any of the CA subjects will not receive it.

If you’re considering becoming a Chartered Accountant, you should be familiar with all the CA subjects covered in various stages of CA examination. Take this opportunity to reach out to our experts at Leverage Edu to find out more about the entry routes, in order to build an exciting career path towards the industry of your choice, anywhere in the world.

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