CA Course

CA (Chartered Accountancy) Course Overview

Chartered Accountancy (CA) is a part-time professional course that can be pursued after class 12th or after graduation. If you are pursuing a CA course after completing class 12th then you have to undergo the CPT and IPCC exams including 3 years of internship under an experienced Chartered Accountant (CA), whereas, candidates who have completed their graduation can join the CA course via the direct entry route where they do not need to give CPT exam and they can directly go for IPCC exams and 3 years of internship. The CPT route will allow you to become a certified Chartered  Accountant (CA) in 4.5 - 5 years whereas the direct entry route will allow you to finish the CA course and become a professional certified Chartered Accountant (CA) in three years.

A professional accounting, taxes, auditing, and financial assessment practice for an individual or company is known as chartered accounting. An accounting expert who has been certified by a statutory authority as being qualified to manage accounting and taxes issues for a business is granted the title of a Chartered Accountant or a CA. 

The Common Proficiency Test is a preliminary exam for enrollment in the Chartered Accountancy Program. A student who has completed the 10th grade may enroll in the CPT Course by submitting the required paperwork and payment. In order to enroll in the Chartered Accountancy Course, a student who has earned higher education credentials than the 10th grade, such as a B.Com, LLB, ICWA, M.Com, CS, or MBA, must first appear and pass the CPT Examination.

Some of the top Chartered Accountancy (CA) colleges to pursue the CA course are ETEN CA Guwahati, PIRON Scholl of Business and Finance Mumbai, Navkar Institute Ahmedabad, CMS For CA Hyderabad, Vista Academy Dehradun, etc. The course fees for the CA foundation course is INR 9,800 including an optional fee for students’ and members’ journal membership. The course fee for the CA Intermediate course is INR 18,000 for both groups and INR 13,000 for groups I and II. The course fee for the CA Final course is INR 22,000.

What Does a CA Do?

A chartered accountant can offer services in one of four areas: financial accounting and reporting, management accounting, applied finance, and taxation. 

Some of the responsibilities are -

• They can be in charge of the entire accounting department of the company, or each CA can focus on a specific department.
• Chartered accountants serve as trusted advisors, providing strategic financial direction to businesses.
• They generate financial statements periodically and annually, which are extremely useful in making decisions about the company's performance.
• They are in charge of implementing changes and resolving the company's financial problems because they are familiar with specific rules, regulations, and laws.
• They work in business and industry as management accountants, business analysts, sales managers, and corporate leaders. 
• Chartered accountants in the public sector play an essential role in overseeing government spending by strategically monitoring and allocating resources.
• Some chartered accountants also work as consultants and freelancers, which allows them to grow with different projects while keeping up with changing market trends and new forces.

CA Course Highlights

CA 2022 Dates

Below we have mentioned the tentative important dates related to CA.

What are the different course levels of Chartered Accountancy?

The Institute of Chartered Accountants of India (ICAI) administers CA 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 CA 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.'

CA Course after Class XII through CPT Route

The CPT, or Common Proficiency Test, previously was the first level of Chartered Accountancy examinations in India. However, as per the ICAI's revised scheme, it has been replaced by CA Foundation.

A person interested in enrolling in the CA course after class 12th must take the CPT Exam. The CPT exam is administered twice a year, in June and December, and the deadline for submitting the CPT Exam Form is April/ October, tentatively.

However, before submitting the CPT Exam form, an individual must first register for CPT. If an applicant has taken the class XII exams but the results have not been released, they can choose the provisional registration option for CPT and will be required to provide the mark-sheets upon passing the class 12th exams.

One can even register after class 10th and take the exam after class 12th. Law, Economics, Accounts, and Quantitative Analysis are the four subjects covered in the exam. Candidates who have passed both the CPT and the class 12th exams can register for the IPCC (Integrated Professional Competence Course - the second level course of CA). Registration must be completed nine months before the first day of the examination month.

ICAI CA Direct Entry Scheme After Graduation

After graduating, a person can enrol in the CA course and receive a CPT exemption. Students who enter the CA course after successfully completing their graduation with the specified percentage of marks are exempt from taking the CPT exams and they can take the IPCC exams immediately and begin their articleship.

Students enrolled in the direct entry scheme must first complete at least nine months of articleship training before being eligible to sit for Intermediate level exams.

To be eligible for Direct Entry into the CA program, the aspirant must first meet at least one of the following eligibility criteria - 

• Passed the CS Executive exam
• Passed the CMA Intermediate exam
• Commerce graduate/ post-graduate (minimum 55% marks)
• Graduate in other subjects (minimum 60%)

Comparison between CPT Route and Direct Entry Scheme in CA Course

Here we have outlined the comparison between the CPT route and the Direct Entry scheme in the CA 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 CA 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 and added work. 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 CA Foundation course.
• Even in the worst-case scenario, a graduate aspiring to ace the CA will have a degree already to build his career in another field even if he fails to pass the CA exam or loses interest over time.

Duration of the Chartered Accountancy Course

The least duration of the Chartered Accountancy course for someone entering after class 12th (CPT method) is 4.5 years. The minimum period of the Chartered Accountancy course for someone joining after graduating (via the Direct Entry Scheme) is three years.

Skills Required to Become a CA

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
• Sap financial accounting and controlling
• Understanding of financial reporting
• Knowledge of tax consulting
• Evaluation and management auditing

Advancing Studies and Courses

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.

Some of the advanced studies and courses they can refer to include - 

• Chartered Financial Analyst (CFA course)
• Certified Financial Planner (CFP)
• Cost and Work Accountants (CWA)
• MBA in Finance
• Actuarial Science
• Financial Risk Manager (FRM)
• Company Secretary (CS)
• LL.B

CA Course Eligibility Criteria

An aspirant must complete a training program and pass exams at various levels administered by the Institute of Chartered Accountants of India (ICAI) to become a Chartered Accountant.

CA Eligibility Criteria for CA Foundation Route

Here are the eligibility criteria for CA Foundation course - 

• To be eligible for the Foundation exam, the candidate must have passed Class 12 and finished four months of study following CA registration.
• The candidate must first register with the Board of Studies and then complete four months of study.

CA 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).

Chartered Accountancy Admission Process

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

CA Selection Process and Structure

Here are some important particulars to know about how to become a Chartered Accountant -

• Students must register with a recognized authority that governs CA programs, such as ICAI.
• They must pass three modules of the course: the CA Foundation Exam, the Intermediate Course, and the CA Final, which consists of a variety of CA subjects.
• After passing the first level, which consists of the CA Foundation Exam and the first group of Intermediate Course, students are qualified to begin their articleship with a CA firm or a practising CA.
• After they complete their three years of practical training, they must clear their CA final exams.
• Aside from that, they must complete computer-related training and an Orientation Course (OC) to improve their information technology and soft skills.
• When everything is finished, students will receive their professional CA degree.

CA Exam List 2022

The Chartered Accountancy course, which typically lasts 3-5 years depending on how long it takes to pass the exams, is a doorway to one of the most highly regarded professions in the world. Exams can be attempted after completing class 12th in any stream. 

Some of the world's top institutes that govern the Chartered/ Certified Public Accountancy program are listed below -

• 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)

CA Course Syllabus

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

Here we have mentioned the subjects and syllabus for all CA courses.

Chartered Accountancy Books

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 CA.

Books for CA Subjects

Here are the best recommended books for CA subjects.

CA Foundation

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

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.

Here 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

Average CA Salary in India

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

Top Organizations Hiring Chartered Accountants

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.