CA Course

Chartered Accountancy is a highly esteemed professional qualification in the accounting domain, signifying an individual's expertise in accounting, finance, auditing, and taxation. Chartered Accountants are recognized for their in-depth knowledge and adherence to ethical standards, making them indispensable advisors to businesses and individuals in navigating the complexities of financial matters. A Chartered Accountant provides financial guidance, ensuring compliance with regulatory requirements, and conducting audits to maintain financial integrity of a firm.

To practice as a CA in India, one must complete three levels of training under the Institute of Chartered Accountants of India (ICAI). The ICAI is the regulating body for chartered accountancy. Aspirants can take CA admission through the Foundation Course after Class 12 or the Direct Entry Route after completing Graduation.

The CA syllabus covers accounting, auditing, taxation, financial management, etc. CA jobs include auditors, financial analysts, tax consultants, or work in corporate finance. CA salary varies based on experience and location, ranging from INR 6-10 lakhs per annum for freshers and significantly higher for experienced professionals. CA exams are organized by the Institute of Chartered Accountants of India (ICAI) for individuals aspiring to become Chartered Accountants in India.

• CA Foundation exams scheduled to begin on December 24th, 2023 will instead take place on December 31, 2023, January 2, 4, and 6, 2024. Ten days prior to the exam date, the admit cards will be made available via the official website of the icai.org.
• Group I exams for the CA Intermediate course will be held on November 2, 4, 6, and 8, 2023, and Group II exams on November 10, 13, 15, and 17 of the same year.
• Group I and Group II examinations for the CA final course will be held on November 1, 3, 5, and 7, 2023, and November 9, 11, 14, and 16 of the same year.
• As per the official circular dated November 2, 2023, the start dates for Mock Test Papers Series I and II, which were initially set for November 6 and December 4 have been postponed to November 28 and December 15 respectively. These practice exams are intended for CA Foundation course participants who will be taking the December 2023 exam.

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

Chartered Accountancy (CA) is a professional course in India that trains individuals to become expert financial advisors and auditors. Administered by the Institute of Chartered Accountants of India (ICAI), the CA course comprises three levels: Foundation, Intermediate, and Final. Students undergo practical training and must pass rigorous examinations at each stage. CAs play crucial roles in financial management, auditing, taxation, and business advisory services. Completing the CA course opens diverse career paths in public practice, corporate finance, consultancy, and more, making it a highly respected and sought-after qualification in the field of accounting and finance.

Chartered Accountants (CAs) in India enjoy a lucrative career path with a promising salary trajectory. The average annual salary for a CA in India ranges from Rs. 6,00,000 - Rs. 7,00,000 to Rs. 40,00,000 or more.

The salary of a CA depends on factors such as experience, industry, company, and location. Freshers with less than one year of experience can expect an average annual salary of Rs. 2,00,000 - Rs. 4,00,000, while those with 5-10 years of experience can earn Rs. 12,00,000 - Rs. 25,00,000 annually. CAs with 10-15 years of experience can command salaries of Rs. 25,00,000 - Rs. 40,00,000 or more.

The CA course's initial step is registration. Candidates must first be eligible before submitting the registration form. Check the eligibility criteria for each level of the Chartered Accountancy course:

CA Foundation

To be eligible to sit the CA Foundation exam, the student must have earned at least a 50% grade in the Commerce stream of their class 12 or at least a 55% grade in the Science stream. However, candidates will only be able to give the CA Foundation exam only after registering with the Board of Studies and mandatorily studying for four months. Also, candidates are eligible to register for CA Foundation course after passing class 10th from a recognized school board in India or equivalent exam as recognized by the Central Government of India.

CA Intermediate

The CA Foundation route and the direct entry route are the two ways that students can sign up for CA Intermediate level. The eligibility criteria for CA Intermediate course for both the routes is as follows:

• Candidates must pass the CA Foundation exam with a minimum of 40% in each subject and a minimum overall score of 50% to qualify for the CA Intermediate level.
• Commerce graduates must receive 55% overall marks in their graduation or post graduation OR Non-Commerce graduates must receive an overall score of 60% or above to directly apply for the CA Intermediate course level.
• Apart from the above, candidates who have cleared the ICWAI/ ICSI Intermediate level are also eligible to directly apply for the CA Intermediate level.

CA Final

To enroll in the CA Final course, candidates must have passed both groups of the CA Intermediate exam with 40% in each subject and overall 50% at the Intermediate level of the course. Candidates must also have completed at least 2-2.5 years of articleship training during their CA Intermediate course.

Skills Required To Become CA

To become a Chartered Accountant (CA), you need to develop a diverse set of skills that will help you excel in the field of accounting and finance. A few essential competencies needed to become a CA are as follows:

Strong Analytical Skills: CAs need to analyze complex financial data, identify trends, and draw meaningful conclusions. Strong analytical skills are crucial for decision-making and problem-solving.

Numerical Aptitude: Being comfortable with numbers and mathematical concepts is essential. CAs often deal with financial statements, budgets, and tax calculations, so numerical proficiency is a must.

Attention to Detail: Accuracy is paramount in accounting. CAs must pay meticulous attention to detail to ensure financial records are error-free and comply with regulations.

Ethical Integrity: CAs are held to high ethical standards. You must exhibit honesty, integrity, and a commitment to ethical conduct in financial reporting and decision-making.

Communication Skills: Effective communication is vital, both in written and verbal forms. CAs need to explain financial information to clients or colleagues, and they may be involved in presenting findings or recommendations.

Problem-Solving Ability: CAs encounter complex financial issues and regulatory challenges. The ability to identify problems and devise solutions is essential for success in this profession.

Time Management: Overseeing several projects and deadlines is a typical part of the job. Effective time management is crucial to meet reporting and filing deadlines.

Teamwork and Collaboration: CAs often work as part of a team, whether in a public accounting firm, a corporation, or consulting. Collaborative skills are important for effective teamwork.

Adaptability: The accounting and finance industry is subject to regulatory changes and evolving technology. CAs need to stay updated and adapt to new accounting standards and tools.

Technical Proficiency: Proficiency in accounting software and financial tools is important. CAs should be comfortable using software for tasks like data analysis, financial modeling, and auditing.

Leadership Skills: As you advance in your career, leadership abilities become important, especially if you're in a management or advisory role within a firm or organization.

Research Skills: CAs may need to research tax laws, financial regulations, or industry-specific practices. The ability to conduct thorough research is beneficial.

Risk Assessment: Evaluating financial risks and proposing risk mitigation strategies is part of the job. CAs need to assess and manage risks effectively.

Client Relationship Management: If you work in public accounting or advisory roles, building and maintaining strong client relationships is key to success.

Continuous Learning: The field of accounting is ever-evolving. CAs must commit to ongoing professional development to stay up-to-date with industry trends and regulations.

Developing and honing these skills, in addition to completing the educational and examination requirements of the CA course, will prepare you for a successful career as a Chartered Accountant.

Every candidate wants to know how long the course will take to complete it before enrolling. Students must successfully complete all three levels of the CA Course, which takes five years in total, including three years of articleship training, in order to become CAs. However, the entire Chartered Accountancy course takes three years to complete after graduation. Most CA aspirants are aware that the course entails three levels and the duration for each of them is mentioned in the table below:

The Chartered Accountancy (CA) course offered by the Institute of Chartered Accountants of India (ICAI) consists of three levels: the Foundation, Intermediate, and Final. Here's an overview of the syllabus and subjects at each level:

CA Foundation Course:

Principles and Practice of Accounting: Covers basic accounting principles, concepts, and practices used in financial accounting.

Business Laws and Business Correspondence and Reporting: Includes Business Laws which involves the study of various acts and laws governing businesses in India, and Business Correspondence and Reporting, focusing on developing communication skills and report writing.

Business Mathematics, Logical Reasoning, and Statistics: Covers mathematical concepts used in business, logical reasoning, and statistical methods applied in business scenarios.

Business Economics and Business and Commercial Knowledge: Focuses on understanding economic principles, business environment, and commercial knowledge related to accounting and finance.

CA Intermediate Course:

Group I:

Accounting: Advanced accounting principles, including partnership accounts, amalgamation, and valuation.

Corporate and Other Laws: Study of corporate laws, company laws, and other applicable laws governing businesses in India.

Cost and Management Accounting: Principles of costing, cost accounting systems, and management accounting techniques.

Taxation: This subject includes both direct and indirect taxation laws applicable in India.

Group II:

5. Advanced Accounting: More advanced topics in accounting including consolidated financial statements and various accounting standards.

Auditing and Assurance: Covers principles and techniques of auditing, including types of audit and assurance engagements.

Enterprise Information Systems & Strategic Management: Focuses on information systems, IT, and strategic management in business.

Financial Management & Economics for Finance: Covers financial management techniques and principles, as well as economics as applied to finance.

CA Final Course:

Group I:

Financial Reporting: Comprehensive coverage of accounting standards and financial reporting practices.

Strategic Financial Management: Advanced financial management, including financial policy, risk management, and security analysis.

Advanced Auditing and Professional Ethics: Detailed study of advanced auditing techniques and ethical considerations.

Corporate and Economic Laws: Study of corporate laws, economic laws, and other applicable laws relevant to business.

Group II:

5. Strategic Cost Management and Performance Evaluation: Advanced cost management techniques and performance evaluation methods.

Elective Paper: Candidates can choose one elective paper from various specializations like Risk Management, International Taxation, Financial Services & Capital Markets, etc.

Direct Tax Laws and International Taxation: In-depth study of direct tax laws in India and international taxation.

Indirect Tax Laws: Study of indirect taxes applicable in India, including GST (Goods and Services Tax).

Selecting a Chartered Accountancy (CA) course can prove to be a fruitful choice for various reasons. The following are some main advantages of taking a CA course:

Diverse Career Opportunities: A CA qualification opens doors to a wide range of career opportunities in finance, accounting, auditing, taxation, and consulting. You can work in various sectors, including public accounting firms, corporate finance, government agencies, and more.

Prestigious Designation: Obtaining the title of chartered accountant is an esteemed accomplishment. It signifies a high level of expertise and knowledge in the field of accounting and finance, earning respect from employers and peers.

Global Recognition: The CA designation is recognized and respected internationally, allowing you to work and potentially gain employment opportunities in different countries. This global recognition can be especially valuable if you aspire to work in a multinational corporation or pursue an international career.

High Demand for CAs: Skilled accountants are in high demand worldwide. Companies and organizations require CAs to manage their finances, ensure compliance with financial regulations, and provide financial guidance. This demand for CAs often translates into job security and competitive salaries.

Entrepreneurial Opportunities: Many CAs choose to start their own accounting or consulting firms, offering services to businesses and individuals. Having a CA qualification can be advantageous when seeking clients and building a successful practice.

Constant Learning: The CA course is rigorous and requires continuous learning and professional development. This ensures that CAs stay up-to-date with the latest financial and accounting regulations and practices, enhancing their skills and expertise.

Financial Literacy: Through the CA course, you gain an in-depth understanding of financial matters, including tax planning, investment strategies, and risk management. This knowledge can be applied to your personal finances, helping you make informed decisions about investments, taxes, and retirement planning.

Ethical Standards: Chartered Accountants are held to high ethical standards, emphasizing integrity and transparency in financial reporting. This ethical foundation can help you build a reputation for trustworthiness and integrity in your career.

Opportunities for Specialization: Within the CA profession, you can choose to specialize in areas such as forensic accounting, management accounting, or international taxation. This allows you to tailor your career to your specific interests and strengths.

Lifelong Learning and Networking: Being part of the CA community means you have access to a network of professionals and ongoing opportunities for learning and development. Throughout your career, this network may prove to be beneficial.

In a nutshell, enrolling in a CA programme can be a wise career decision because it provides a wealth of professional possibilities, international recognition, and the chance to positively influence financial concerns across a range of industries. Although this path demands commitment and diligence, there can be significant benefits in terms of professional and personal development.

The steps listed below must be completed by students in order to become CA in India:

• Enroll in the CA Foundation Course.
• Take and pass the Foundation Exam.
• Enroll in the CA Intermediate course.
• Pass any one of the CA Intermediate groups.
• Join the Articleship training programme.
• Passing both Chartered Accountancy Intermediate groups
• Complete three years of articleship training 
• Enroll in the CA Final Course
• Pass the Final level in both groups
• Become a certified Chartered Accountant of the ICAI group

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

If a student meets the eligibility qualifications, they may register for the CA Course. Students must fill out the registration form on the ICAI website. Although the forms are accessible all year round, there are deadlines listed. The CA Foundation and Final Session enrollment cutoff dates are January 1 for the May attempt and July 1 for the November session. The deadline for the CA Intermediate May session is September 1, and the deadline for the November session is March 1.

Documents Required for Registration to the CA Course

• Passport size photo
• Class 10th mark sheet and certificate
• Class 12th mark sheet and certificate
• Nationality Proof (preferably Aadhar Card)
• CA Foundation scorecard or Graduation/ Post Graduation mark sheet (For enrollment to CA Intermediate course)
• CA Intermediate Marksheet (For registration to CA Final course level)
• Articleship Certificate (For registration to CA Final course level)

The passing criteria for the CA Foundation, Intermediate, and Final exams are as follows:

CA Foundation Exam Passing Criteria

• Minimum Marks: To pass the CA Foundation exam, candidates must obtain a minimum of 40% marks in each individual subject and an aggregate of 50% marks in all subjects combined.
• Exemption in a Subject: If a candidate scores a minimum of 60% marks in any subject, they will be exempt from that subject for subsequent attempts. However, they must still achieve the aggregate passing criteria mentioned above.

CA Intermediate Exam Passing Criteria

• Minimum Marks: To pass the CA Intermediate exam, candidates must secure a minimum of 40% marks in each individual subject.
• Aggregate Marks: Additionally, candidates must obtain an aggregate of 50% marks in all subjects combined.
• Exemption in a Subject: Similar to the Foundation level, if a candidate scores a minimum of 60% marks in any subject, they will be exempt from that subject in subsequent attempts. However, they must still achieve the aggregate passing criteria mentioned above.

CA Final Exam Passing Criteria

• Minimum Marks: To pass the CA Final exam, candidates must secure a minimum of 40% marks in each individual subject.
• Aggregate Marks: Additionally, candidates must obtain an aggregate of 50% marks in all subjects combined.
• Exemption in a Subject: As with the Intermediate level, if a candidate scores a minimum of 60% marks in any subject, they will be exempt from that subject in subsequent attempts. However, they must still achieve the aggregate passing criteria mentioned above.

It is important to note that the passing criteria mentioned above are based on the regulations set by the Institute of Chartered Accountants of the respective country or region. These criteria may vary slightly depending on the specific guidelines and policies of the accounting institute governing the CA course.

Here's a comparison of the CA course with some similar professional courses, including CS (Company Secretary), CMA (Cost and Management Accountant), CFA (Chartered Financial Analyst), and ACCA (Association of Chartered Certified Accountants):

Please note that the specific details and requirements for each course may vary by country and region. It's essential to research the specific qualifications and career opportunities in your area to make an informed decision.

We have made the job easy for you and have compiled a list of some of the best books for the CA preparation at all the three levels of the course listed below:

Books for CA Foundation

The following are a few of the top and most suggested books for the CA foundation:

• Mercantile Law: Vivek Kuchhal and MC Kuchhal 
• Fundamentals of Accounting by DG Sharma
• Tulsian’s Business Law By Tulsian
• Taxmann’s CA Foundation Principles and Practice of Accounting
• CA CPT Fundamentals of Accounting by PC Tulsian and Bharat Tulsian
• Taxmann’s Quicker for Business Mathematics, Statistics, and Logical Reasoning

Books for CA Intermediate

The top books for CA Intermediate include the following:

• Tulsian’s Accountancy for CA Intermediate (Group II) by  Bharat and PC Tulsian
• CA Surbhi Bansal’s Auditing and Assurance for CA Intermediate
• Padhuka's Students' Guide for Strategic Management and Enterprise Information Systems by B Saravana and Prasath Sekar
• MP Vijay Kumar’s First lessons in Accounting Standards 
• Munish Bhandari’s Handbook on Corporate and Other Laws - CA Inter
• PC Tulsian’s Cost Accounting for CA Intermediate

Books for CA Final

The top recommended books for CA Final include the following:

• Quick Revision Charts on Professional Ethics and Advanced Auditing
• Padhuka’s Student Reference On Indirect Taxes - CA Final New and Old Syllabus by G Serkar and B Sarvana Prasath
• GST Compact Book on Indirect Tax by CA Raj Kumar
• Conceptual Learning - A Handbook on Indirect Tax Law by Yashwant Mangal for CS and CA Final level 
• Padhuka’s Advanced Auditing Student Handbook: CA Final New Syllabus by Sekar and B Sarvana Prasath

After completing CA in India, you can pursue careers in diverse fields such as auditing, taxation, financial consulting, and corporate finance. You may work in public accounting firms, multinational corporations, government agencies, or as an independent practitioner.

In India, you can also become a Certified Public Accountant (CPA) or Company Secretary (CS) for additional career opportunities. Internationally, CA is highly respected, allowing you to work in global organizations, especially in the Middle East, the UK, Canada, and Australia. Abroad, you can explore roles in financial management, international taxation, or investment analysis, among others.

CA Salary 

Here is a table showing approximate salary ranges for Chartered Accountants (CAs) in India across various job profiles:

CA Jobs

In India, Chartered Accountants (CAs) have a wide array of job opportunities across various sectors. Some of the common job roles for CAs in India include:

Audit and Assurance: CAs can work in audit firms or as internal auditors within organizations, examining financial statements, assessing financial controls, and ensuring compliance with regulations.

Taxation: CAs often specialize in taxation, working with companies or as independent consultants, providing tax planning, filing returns, and ensuring adherence to tax laws.

Financial Management: CAs play significant roles in financial management within companies, overseeing budgets, financial planning, and strategic decision-making.

Consulting: CAs provide consultancy services, advising businesses on financial strategies, risk management, mergers and acquisitions, and regulatory compliance.

Corporate Finance: They work in corporate finance departments, managing investments, analyzing financial data, and strategizing for growth and expansion.

Risk Management: CAs can work in risk management roles, evaluating financial risks and developing strategies to mitigate them.

Government Jobs: CAs can opt for roles in government organizations, including positions in regulatory bodies, taxation departments, and public accounting.

Academia and Training: Some CAs choose to become educators, teaching accountancy, finance, or related subjects in universities or as part of professional training programs.

Entrepreneurship: Many CAs become entrepreneurs, starting their accounting, consulting, or financial advisory firms, providing services to various clients.

Nonprofit and NGO Sector: CAs work in non-profit organizations, handling financial matters, ensuring compliance, and financial transparency.

CA Recruiters

Here are examples of companies and organizations that frequently recruit Chartered Accountants (CAs) in India and abroad:

India:

Big Four Accounting Firms: Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), KPMG.

Financial Institutions: State Bank of India, ICICI Bank, HDFC Bank, Axis Bank.

Consulting Firms: McKinsey & Company, Boston Consulting Group (BCG), Bain & Company.

Corporate Sector: Tata Group, Reliance Industries, Aditya Birla Group, Larsen & Toubro.

IT Companies: Infosys, TCS (Tata Consultancy Services), Wipro.

Government Bodies: Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Income Tax Department.

Abroad:

Big Four Accounting Firms: Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), KPMG (Global offices).

Multinational Corporations (MNCs): Apple, Microsoft, Google, Amazon.

Investment Banks: Goldman Sachs, J.P. Morgan, Morgan Stanley.

Consulting Firms: McKinsey & Company, BCG, Accenture.

International Organizations: United Nations (UN), World Bank, International Monetary Fund (IMF).

Financial Institutions: HSBC, Barclays, Deutsche Bank, Citibank.

These companies and organizations typically seek CAs for various roles in auditing, financial management, taxation, advisory services, and other specialized financial functions both in India and across the globe.

Here are some popular courses to pursue after CA, along with their benefits and target roles:

CFA (Chartered Financial Analyst):

Benefits: Globally recognized credential, opens doors to investment banking, portfolio management, and financial analysis roles.

Target Roles: Investment Banker, Portfolio Manager, Financial Analyst

FRM (Financial Risk Manager):

Benefits: Enhances expertise in risk management, particularly in financial institutions.

Target Roles: Risk Manager, Credit Risk Analyst, Market Risk Analyst

ACCA (Association of Chartered Certified Accountants):

Benefits: Internationally recognized qualification, suitable for those seeking overseas opportunities.

Target Roles: Financial Accountant, Management Accountant, Auditor

DISA (Diploma in Information System Audit):

Benefits: Specializes in information security and IT audit, catering to the growing demand for cybersecurity professionals.

Target Roles: Information Systems Auditor, IT Security Consultant, IT Risk Analyst

CPA (Certified Public Accountant):

Benefits: U.S.-based accounting qualification, ideal for those seeking opportunities in the United States or multinational companies.

Target Roles: CPA, Tax Accountant, Auditor

LLB (Bachelor of Laws):

Benefits: Combines accounting expertise with legal knowledge, suitable for those interested in corporate law or tax law.

Target Roles: Corporate Lawyer, Tax Lawyer, Legal Advisor

MBA (Master of Business Administration):

Benefits: Provides a comprehensive understanding of business management, enhances career prospects in leadership roles.

Target Roles: CEO, CFO, COO, General Manager

CISA (Certified Information Systems Auditor):

Benefits: Focuses on auditing IT systems and controls, catering to the growing demand for IT auditors.

Target Roles: IT Auditor, Information Security Auditor, IT Risk Manager

These courses offer diverse career paths and opportunities for CAs to expand their expertise and advance in their professional endeavors. The choice of course depends on individual career aspirations and interests.