In the non-technical sector, Chartered Accountants are among the highest paid professionals in India. It is regarded as one of the most promising career prospects for some of those seeking employment in the field of commerce. Learning and examinations in the fields of finance, taxation, and accounting are required for the CA qualification.
The journey to becoming a Chartered Accountant (CA) is complicated, as applicants must pass a series of exams at various levels, but it is very rewarding. Even though the Chartered Accountancy course lasts almost five years, applicants who take more than one attempt to pass the exams can take much longer.
In India, Chartered Accountancy professionals are needed in a variety of business organizations, both private and government. An organization’s account information, tax dues, and assets are handled by a professional CA.
Course Details
| Course Name | Chartered Accountancy |
| Short Name | CA |
| Number of Exam Levels | 3 levels ( CPT, IPCC, FC) |
| Course Duration | 3 to 5 years (depends on your level and no. of attempts) |
| Average Salary | INR 7 Lakhs to INR 30 Lakhs |
Eligibility Criteria for CA Course
Candidates who wish to choose CA as a career can enrol themselves in a Chartered Accountancy course either by the Foundation Course or Direct Entry option.
- After Class 12, students can enrol themselves in the Foundation course with a 50% aggregate from a recognised board.
- Those who have completed their university degree can enrol through Direct Entry.
- There’s no age limit for the CA course.
CA Selection Process
CA exams are governed by the Institute of Chartered Accountants of India (ICAI), which certifies applicants as qualified Chartered Accountants. There are three levels of exams for CA qualification, are as follows:
- Common Proficiency Test (CPT) – Entry Level
- Integrated Professional Competence Course (IPCC) – Intermediate Level
- Final course (FC) – Final Level
Foundation Course
- After passing the Class XII exam, you must register with the Board of Studies (BoS).
- Complete the four-month study phase and prepare for the Foundation exam.
- Register for the Intermediate Course with the Board of Studies after qualifying foundation exam.
- Complete an 8-month study programme. Appear and pass in one or both of the Intermediate Course groups.
- Before beginning the Practical Training, complete the four-week Integrated Course on Information Technology and Soft Skills (ICITSS).
- After completing one or both of the Intermediate Course Groups, you can apply for 3 years of practical training.
- After passing each group of the Intermediate Course, register for the Final Course.
- Before the Final Exam, you must complete a 4-week Advanced Integrated Course on Information Technology and Soft Skills (AICITSS).
- Attend the final examination and qualify both groups.
Direct Entry
- Graduates with a bachelor’s degree can enrol themselves in a Direct entry route for the Chartered Accountancy programme.
- The only difference between Direct Entry and Foundation Course is that applicants are excluded from applying for the Foundation Course and can enrol in the Intermediate Course directly.
- Graduates/Post Graduates from any stream who have at least a 55 per cent aggregate may apply for direct entry path.
- Candidates who have passed the Intermediate level examinations conducted by The Institute of Cost Accountants of India or The Institute of Company Secretaries of India are also qualified for direct entry.
Fees
Foundation Course
| Registration Fee | INR 1,000 |
| Exam Fees | INR 9,800 |
Intermediate Course
| Registration Fees | INR 18,000 |
| Orientation Fees | INR 7,000 |
| Exam Fees | INR 3,000 |
| Information Technology Training (ITT) Fees | INR 6,500 |
Final Course
| Registration Fees | INR 22,000 |
| Exam Fees | INR 3,000 |
| GMCS Fees | INR 7,000 |
Syllabus for CA Course
Foundation Level
- Practice and principles of Accounting
- Business Laws
- Business Correspondence and Reporting
- Business Mathematics, Logical Reasoning and Statistics
- Business Economics
- Business Commercial Knowledge
Intermediate Level
- Formulation of Accounting Standards
- Preparation and Presentation of Financial Settlements
- Applications of Accounting Standards
- Company Accounts
- Accounting for Special Transactions
- Special Types of Accounting
- Dissolution of Partnership Firms
- The amalgamation of Partnership Firms
Final Level
- Financial Reporting
- Strategic Financial Management
- Advanced Auditing and Financial Ethics
- Corporate and Economic Laws
- Strategic Cost Management and Performance Evaluation
- Risk Management
- Financial Services and Capital Markets
- International Taxation
- Economic Laws
- Global Financial Reporting Standards
- Multidisciplinary Case Studies
- Direct Tax Laws and International Taxation
- Indirect Tax Laws
- Articleship (Practical Training)
Exam Dates for CA Course
| CPT | June and December |
| Intermediate | May and November |
| Final | May and November |
Career, Scope and Salary
Chartered Accountants are professionals who assist individuals and businesses with their accounting, internal audit, tax, economic, and management needs. Chartered Accountants are specialized in the maintenance and analysis of a company’s financial health. Chartered Accountants hold prominent positions in both the public and private sectors.
Some of the Responsibilities of a CA are-
- Supervise the accounting team’s tasks.
- Set up accounting procedures and structures.
- Resolve your financial statements.
- Prepare financial reports on a monthly basis.
- Monitor the general register’s master details.
- Examine and approve online banking transactions.
- Ensure that you are in accordance with the state revenue service.
- Assist with accounting and filing on a regular basis.
- Oversee the entire financial activities.
- Make a budget report for expenses.
A CA also serves as a business representative, assisting with financial reporting, obtaining loans, preparing financial reports, and assessing the profitability of a company.
A Chartered Accountant’s salary in India is determined by his or her qualifications, abilities, and experience. Chartered Accountants in India earn between INR 7 lakhs and 25 lakhs annually on average. International packages are far higher, beginning from INR 70 lakhs per annum.
| JOB ROLE | AVERAGE SALARY PER ANNUM |
|---|---|
| Financial analyst | INR 8-9 lakhs |
| Account manager | INR 7-7.5 lakhs |
| Budget manager | INR 9-11 lakhs |
| Financial reporter | INR 8-8.5 lakhs |
| Financial advisor | INR 8.5-9 lakhs |
| Auditor | INR 7-8 lakhs |
| Tax consultant | INR 7-7.5 lakhs |
| Tax compiler | INR 7 lakhs |
CA Course – FAQs
CA is not a course to be pursued in colleges. To earn the CA qualification, one must go through exams that are held at different levels. However, there are few Institutes that prepares candidates for CA exam so that they can do better and take fewer attempts.
You have to join several Articleships/Internships during your CA course, which will provide you with a decent stipend. This will provide a real-time experience as a CA. So you don’t lack experience in any way. Business Firms, Banks (both government and private), private companies are few examples where a qualified CA can apply for a job.
