CA Course

Chartered Accountancy is a professional practice of auditing, accounting, financial evaluation, and taxation for an individual or an organization. The title of a Chartered Accountant or a CA is given to an accounting expert who has been approved by a statutory body as qualified to handle issues relating to the accounting and taxation of a business enterprise. A candidate may pursue a Chartered Accountancy course either via the Foundation Course Route or the Direct Entry Route under the Scheme of Education and Training. 

After Class 12, the foundation course serves as the entry point into the programme, whereas the Direct Entry option is for individuals who have completed their graduation. The duration of a chartered accountancy course via the CPT route is 4.5 - 5 years whereas the direct entry route will allow you to finish the course and become a certified chartered accountant in 3 years.

The course fees for the CA foundation course is INR 9,800, whereas, the course fee for the CA Intermediate course is INR 18,000 for both groups and INR 13,000 for groups I and II and the course fee for the CA Final course is INR 22,000.

The highlights section will provide you with an overview of important aspects related to the chartered accountancy course like duration, course fee, top recruiters, etc.

The Chartered Accountancy course is not an easy ride. It involves extensive studying, a difficult articleship that lasts for around 3 - 4.5/ 5 years, and exams that are difficult to pass. Only if you are reasonably confident in your capacity to invest the time and effort necessary for the course should you pursue this qualification. Career-wise, taking this course makes sense if:

You are considering a profession in accounting, taxation, or auditing

CAs handle a company's accounting, taxation, legal concerns, and auditing needs. There is no need to search further if this appeals to you. As a chartered accountant, you can choose your area of specialization from among direct and indirect taxes, accounting, taxation, financial consulting, tax audits, and more.

You're thinking about working in corporate finance

Managing a company's finances, fundraising, project financing, treasury, etc. are all included in corporate finance. This is a demanding and interesting career, and in India, chartered accountants virtually invariably get these positions. As a CA, you can contribute significantly to corporate finance by delegating the creation of financial statements and other accounting-related responsibilities.

Although you are unsure of which area of finance you want to work in, you are interested in doing so

You enjoy finance and accounting, but you're not sure which area of finance you want to focus on. If you have the perseverance to finish the course, CA is a very safe choice. Passing the exam is a difficult task because of the low passing percentage. Although there are plenty of opportunities in this scenario, the Chartered Accountancy curriculum offers a strong return on investment. Compared to other finance programmes in India, the compensation scale is very good and the investment is minimal.

You want to open your own firm

It should go without saying that you need this course if you want to start your own CA practice. According to the applicable laws and regulations of India, a chartered accountant is legally permitted to conduct audits. For instance, businesses that qualify for statutory audits must only have their financial records and tax returns audited by licensed chartered accountants. Due to this, Chartered Accountancy is a well-liked programme in India.

The course is very demanding and stressful in every way. Students should therefore evaluate their aptitude and interests before enrolling in this course. Since students must do demanding articleships while they are studying, time management is absolutely crucial. Therefore, only individuals who have a genuine interest in accounting and taxes should enroll in this course.

One of the most difficult and in-demand professional courses in the nation is chartered accountancy. For many people, it is the ideal profession, and it also pays well. In addition to a variety of alternatives, a career in chartered accountancy has other benefits. Here are five compelling reasons to pursue CA as a career:

Chartered Accountancy provides a lot of versatility

The profession of chartered accounting gives a lot of career flexibility. There are numerous professional paths and options available to CAs. Regardless of their size or industry, almost all businesses require financial expertise. As a result, chartered accountants can operate in a variety of industries. The training provided by the chartered accountancy programme aids applicants in adjusting to and functioning in any industry.

The field of CA is secure and dependable

One of the professions with the highest demand in the nation is chartered accounting. CAs are required by almost every organization to manage accounting, finance, and audit. Chartered Accountancy is regarded as a steady and secure career because there is a constant demand for qualified chartered accountants.

A global career can be attained through the CA course

For those who want to work abroad, chartered accountancy is a fantastic career choice. Demand for chartered accountants is significant not only in India but also in a number of other nations. Candidates can get internationally recognised certifications and professional qualifications in pertinent industries in addition to the CA course, which can provide further capabilities for securing better prospects overseas.

The pay for Chartered Accountants is quite impressive

Salary, bonuses, and other benefits are crucial factors to think about while choosing a job path. In comparison to other occupations, CA wages are quite excellent. Chartered Accountants rank among the highest paid occupations in the nation. For newly qualified chartered accountants, the average income package is around INR 6-7 LPA, and after obtaining some experience, one can earn even more money.

There are other aspects of chartered accounting besides numbers

Many people believe that chartered accounting is monotonous and primarily involves numbers. This is a fallacy, though, as CA involves more than mere computation. Chartered Accountants perform a variety of fascinating roles in the development of firms across all industries.

Candidates must confirm that they meet the qualifying requirements prior to registration. The eligibility criteria for the entry-level of the chartered accountancy programme i.e CA Foundation course are mentioned below:

Eligibility Criteria for CA Foundation Route

Here are the eligibility criteria for CA Foundation course - 

• Students may enroll in the chartered accountancy foundation Course if they have completed the class 10th exam administered by an organization that is legally recognised in India or if they have taken an exam deemed equivalent by the Central Government.
• After passing the 10+2 examination from a body established by law in India or an examination recognised as comparable by the Central Government, students are eligible to sit for the CA Foundation Examination.
• Candidates will be eligible for the chartered accountancy foundation exam after completing four months of study from the date of enrollment.
• Each year, students who register on or before January 1 or July 1 are eligible to take the May/November exams.
• The ICAI does not impose any age restrictions on applicants who desire to enroll in the CA Foundation programme.
  

Eligibility Criteria for CA Direct Entry Route

For direct admission to the CA Intermediate course, the aspirant must meet the following eligibility requirements -

• Commerce Graduates/ postgraduates with at least a 55% aggregate or equivalent score can apply for this entry route. 
• They must, however, have studied Accounting, Auditing, Mercantile Laws, Corporate Laws, Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing, Economics, Management (including Financial Management), Business Administration, or Management Accounting.
• Graduates/ postgraduates from non-commerce fields must have obtained a minimum of 60% aggregate or its equivalent grade in any recognized university examination (including Open University).

Some Exemptions

• Aspirants who have qualified for the Intermediate level examinations conducted by the Institute of Company Secretaries of India are eligible for direct entry. 
• Contenders who have qualified for the Intermediate exam organized by the Institute of Cost Accountants of India are also suitable for direct entry.
• Such candidates are exempt from qualifying for the Foundation course and can enrol directly in the Intermediate course.
• Contenders in their last year of study may also apply for the Intermediate course on a provisional basis. 
• Such candidates' registration would be regularized only upon submitting final year mark sheets or passing certificates within six months of appearing in the final year graduation examination and completing ICITSS (Orientation Course and Information Technology).
• ICITSS can be taken and completed by a candidate during the provisional registration period (Orientation Course and Information Technology).

It is important for aspirants to know the detailed admission process of the chartered accountancy course. Different routes of selection methods are adopted for each level of the CA course. 

Chartered Accountancy Selection Process and Structure

Candidates can work through their journey of becoming a Chartered Accountant mainly via two routes i.e Foundation route or direct entry route. The following are some crucial details on how to become a chartered accountant:

Through Foundation Route

The steps to become a certified chartered accountant via the foundation route are as follows:

• After completing the Class 10th Exam administered by an examining body established by law in India, or an Exam recognised by the Central Government As Equivalent Thereto, enroll in the Foundation Course.
• For the exam to be held in the months of May/June or November/December, respectively, register for the Foundation Course by the first day of January or the first day of July, whichever comes first.
• Enter the Foundation Examination after passing the Senior Secondary Examination (10+2 examination) administered by an examination body established by law in India or by an examination deemed equal thereto and after fulfilling (ii) above.
• After completing the Foundation Exam and Class 12th, enroll in the Intermediate Course.
• At the earliest opportunity, enroll in the four-week Integrated Course on Information Technology and Soft Skills (ICITSS), which consists of classes on information technology and orientation. These courses must be successfully completed before beginning their articleship, though.
• Participate in the intermediate examination after completing the 8-month study course as of the first day of the examination's scheduled month.
• After clearing one or both groups of the intermediate course and completing the ICITSS satisfactorily, enroll in articled training.
• Clear the remaining Group of the Intermediate Examination, if any.
• Sign up for the final course
• During the final two years of practical training, but prior to taking the final examination, successfully complete the four-week Advanced Integrated Course on Information Technology and Soft Skills (AICITSS), which consists of courses on Advanced Information Technology and Management Communication Skills.
• After successfully completing AICITSS, appear in the final examination upon completion of practical training or while serving the final six months of articled training on or before the last day of the month preceding the month in which the test is to be held.
• Complete the three years of articled instruction.
• Pass the CA final exam
• Become a "Chartered Accountant" by enrolling as an ICAI member.

Through Direct-Entry Route

I) For Commerce Graduates and Postgraduates with a minimum aggregate percentage of 55% or for Other Graduates and Postgraduates with a minimum aggregate percentage of 60%:

• Enroll in an intermediate course at the institute
• Prior to beginning their articleship, participants must complete a four-week Integrated Course on Information Technology and Soft Skills (ICITSS) that consists of Orientation and Information Technology Courses.
• Register for the three-year practical training programme.
• After completing nine months of practical training, show up for the intermediate examination on the first day of the exam's scheduled month.
• Appear for both the groups of the intermediate examination and pass them.
• Enroll in the final chartered accountancy course.
• Complete the four-week Advanced Integrated Course on Information Technology and Soft Skills (AICITSS), which includes classes on advanced IT and management communication skills, successfully within the final two years of practical training but before showing up for the final exam.
• After successfully completing AICITSS, appear in the final examination upon completion of practical training or while serving the final six months of articled training on or before the last day of the month preceding the month in which the test is to be held.
• Complete the three years of articled instruction.
• Pass the CA final exam.
• Become a "Chartered Accountant" by enrolling as an ICAI member.

II) Candidates who have successfully completed the Intermediate level examination of the Institute of Company Secretaries of India or the Institute of Cost Accountants of India:

• Enroll in an intermediate course at the Institute.
• Complete a four-week Integrated Course on Information Technology and Soft Skills (ICITSS), which must be finished before beginning their articleship. This course consists of information technology courses and an orientation course.
• Show up for the intermediate exam after completing the required 8 months of study as of the first day of the exam's scheduled month.
• After clearing one or both groups of the intermediate course and after completing the ICITSS satisfactorily, enrol in articled training.
• Pass the remaining groups of the intermediate examination, if any.
• Enroll in the CA Final course
• During the final two years of practical training, but prior to taking the final examination, successfully complete the four-week Advanced Integrated Course on Information Technology and Soft Skills (AICITSS), which consists of courses on Advanced Information Technology and Management Communication Skills.
• After successfully completing AICITSS, appear in the final examination upon completion of practical training or while serving the final six months of articled training on or before the last day of the month preceding the month in which the test is to be held.
• Complete the three years of article training.
• Attempt and pass the CA Final Exam.
• Become a "Chartered Accountant" by enrolling as an ICAI member.

The dates for the CA Foundation, Intermediate, Intermediate (IPC), and Final (Old and New) courses are listed in the table below for the chartered accountancy November exam 2024.

The Institute of Chartered Accountants of India (ICAI) administers the chartered accountancy exams and certifies candidates as qualified Chartered Accountants upon completing the three-level course. 

The following examinations are held during the course of the Chartered Accountancy qualification -

• The CA Foundation Exam (earlier known as Common Proficiency Test or CPT)
• CA Intermediate (IPC or Integrated Professional Competence) Exam
• CA Final

The Common Proficiency Test, also known as the Foundation exam, is the first level of testing for the chartered accountancy course, followed by the Intermediate and Final exams. The CA Foundation, Intermediate (IPC) Examination and Final exams are held twice a year, in May and November.

Aside from these exams, a student must complete three years of practical training, also known as an 'Articleship.'

Here we have outlined the comparison between the CPT route and the Direct Entry scheme in the chartered accountancy course.

• The Direct Entry option may be proper for aspirants who are commerce graduates because they are already familiar with the fundamentals of the subject and can easily transition into the Intermediate course.
• On the other hand, applicants who are not commerce graduates and choose to skip the CA Foundation course may struggle to adjust to new concepts and methodologies.
• Candidates who take the Direct Entry route will not have to pay the examination fee or the CA Foundation course fee, which could save them money, an advantage only available to the Direct Entry Scheme beneficiaries in the chartered accountancy course.
• Candidates who decide to seek direct admission into the CA Intermediate course must first complete a 4-week course known as ICITSS [combination of Information Technology (IT) and Orientation Course (OC)] and a mandatory 9-month articleship, which can be pretty demanding. It would be easier to begin by applying for admission to the CA Foundation course.
• Aspirants who have a graduate or postgraduate degree in commerce or non-commerce may still have some weaknesses that need to be addressed. The CA Foundation course provides a solid foundation for studying fundamentals, and with that in place, the following steps become much more manageable.
• If the aspirant chooses the direct entry route, the mandatory articleship may not be in the best location or at the location of your choice. Instead, if they enrol in the Foundation course, the chances of landing a better articleship may increase.
• Direct entry is the best option for students who have passed CS Executive/ CMA Intermediate because they will already be acquainted with the concepts covered in the chartered accountancy foundation course.
• Even in the worst-case scenario, a graduate aspiring to ace the chartered accountancy course will have a degree already to build his career in another field even if he fails to pass the chartered accountancy exam or loses interest over time.

Aspirants must take a quick look at the important skills that one must have to become a CA:

• Deliverance and perseverance
• Inclination for numbers
• Understanding of concepts
• Analytical abilities 
• Budget management
• In-depth knowledge of financial accounting and controlling
• Understanding of financial reporting
• Knowledge of tax consulting
• Evaluation and management auditing

When an aspirant combines the knowledge gained through CA subjects with other advanced courses, they can have an advantage over different roles in an organization and add more value to the organization.

A few of the top trending advanced courses or studies that students can opt for after completing a CA course in 2024 are as follows:

• Investment Banking
• Chartered Financial Analyst (CFA)
• Bachelors of Law (LLB)
• Financial Risk Management (FRM)
• MBA in Finance
• Cost and Work Accountants (CWA)
• Certified Public Accountant (CPA)
• Company Secretary (CS)

One of the most sought-after professions in the financial industry, chartered accountants offer their services in monitoring and maintaining a company's financial health. Chartered Accountants hold key positions in both the public and private sectors because they serve as business consultants who aid in the creation of financial reports, the acquisition of loans, the creation of financial predictions, the demonstration of the means by which the loans will be repaid, and the assessment of the viability of businesses. The CA also represents its client before government bodies and assists him in adhering to tax regulations.

A few of the major scope including the duties and responsibilities of chartered accountants in public and private sectors are mentioned below:

• They might take on the role of an accountant who manages the data in the business's records book.
• They might perform the duties of a general manager in the finance division.
• They have the ability to audit the government.
• They had the option of working as finance managers in government banks.
• They had the authority to perform the duties of assistant administrative officers.
• In government banks, they will be in charge of loans and advances.
• CAs have the option of establishing their own independent practice or selecting their clients based solely on merit.
• They may also seek a Chartered Accountant position with an established company.
• They might provide their services to the stock market as well.
• Since the government favours startups and provides loans, there is a demand for CA specialists with the aim of analysis in the banks as well.
• The CA might be crucial to the company's ability to make timely decisions and generate revenues.

The CA course fee for the foundation, Intermediate, and final course levels is mentioned below:

CA Foundation Course Fee

CA Intermediate Course Fee

Note: In addition to the above fees, direct entry students must also pay INR 200 (about $20) for the prospectus.

CA Final Course Fee

To become a successful Chartered Accountant, the candidates must be aware of the subjects and syllabus for the CA course to prepare confidently for the exams.

Here we have mentioned the subjects and syllabus for all three levels of the chartered accountancy course.

The following are the key chartered accountancy subjects and topics covered in each of its exam modules:

CA Foundation Subjects

The table below contains the subjects covered in the foundation course:

CA Intermediate or IPCC Subjects

Below are the subjects of CA Intermediate or IPCC:

CA Final Subjects

The CA subjects in the final level of the exam are divided into two groups: Group 1 and Group 2. Both the groups contain four papers.

There are several best books on Chartered Accountancy that candidates can find both online and offline. Referring to the prescribed books is of utmost importance while studying for the CA course.

Books for CA Subjects

Here are the best recommended books for the chartered accountancy subjects at each different levels of the CA course.

CA Foundation

• Business Economics and Business Commercial Knowledge Study Material For CA Foundation
• Introduction to Financial Accounting
• Shuchita Prakashan Scanner foundation on Principles and Practice of Accounting (New Syllabus) Paper – 1
• Shuchita Prakashan Scanner foundation on Business Laws and Business Correspondence and Reporting (New Syllabus) Paper – 2
• Shuchita Prakashan Scanner foundation on Business Mathematics, Logical Reasoning and Statistics (New Syllabus) Paper – 3 
• Shuchita Prakashan Scanner foundation on Business Economics and Business Commercial Knowledge (New Syllabus) Paper – 4

CA IPCC

• Law for CA – PCC/ IPCC
• Goods & Services Tax (GST) Law & Practice with MCQs
• Corporate Governance, Ethics and Social Responsibility
• Auditing and Assurance: Theory and Practice
• Advanced Cost Accounting
• Chartered Accountancy Intermediate Study Guide 2021
• Handbook on Income Tax for CA Inter/ IPCC
• Business Ethics And Communication (CA - PCC/ IPCC/ ATC)
• CA - IPCC Auditing And Assurance (For CA-IPCC Group-II)

CA Final 

• CA Final Study Guide
• Indirect Taxes Containing GST, Customs, FTP & Comprehensive Issues
• Strategic Management
• Financial Management eBook
• Derivatives And Risk Management
• Tulsian’s Financial Reporting
• Mergers And Acquisitions: Strategy, Valuation, And Integration
• International Accounting

Chartered Accountants act as business advisors in high-level strategic decisions such as increasing market share for clients or employers and improving profit margins. Aside from that, many CAs start their businesses and become highly successful entrepreneurs.

Below is a list of top industries for Chartered Accountants:

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

The following table provides the average annual salary of a CA based on various job profiles.

Many CAs practice independently, while a majority of them also join reputable business organizations after completing the course. Mentioned below are some of the top organizations hiring chartered accountants.