Chartered Accountancy Course is a professional course in Accounting introduced in India in 1949, with the enactment of the Chartered Accountants Act. The Institute of Chartered Accountants of India (ICAI) was formed the same year. This Institute is both an examining and a licensing body. It is the responsibility of the institute to conduct the Chartered accountancy (CA) Course.
Related: CA Sample Papers
Chartered Accountancy Course:
A Chartered accountant is one who is specialized in accounting, auditing and taxation. The course involves a blend of theoretical education and practical training which run concurrently for a period of three years and equips a student with knowledge, ability, skills and other qualities required of a professional accountant.
How to become a CA (Procedure) :
Step 1 – Registration:
- Register yourself with ICAI for CPT after passing class 10th exam.
- While appearing for intermediate exam (10 + 2) or after passing intermediate apply for CPT exam.
- Join Intermediate (IPC) Course /ATC and register for 100 hours ITT after passing CPT and 10+2 exam.
Step 2 – Common Proficiency Test:
Professional Competency Course (PCC):
The CA Programme is mainly divided into Professional Competency Course and Final course. After completing the CPT or graduation with required marks one can go for Professional Competency Course (PCC). The registration for PCC is open throughout the year. A student may register at any time during the year. The exam will be held twice a year in May and November, it is necessary that a student must register at least ten months before the examinations.
Subjects for Professional Competency Course (PCC)
The Professional Competency Examination has two groups that consists of three papers each (i.e total 6 papers) and each paper consist 100 marks each.
Paper 1 – Accounting
Paper 2 – Auditing
Paper 3 – Business and Corporate Laws
Paper 4 – Cost Accounting and Financial Management
Paper 5 – Income Tax & Central Sales Tax
Paper 6 – Information Technology
The student should get 40% mark minimum with an aggregate of 50% in a group. Along with PCE one has to under go 100 hours training in Information Technology, i.e the computer training programme as specified by the council. The candidate can register as an articled clerk with a firm of chartered accountants for undergoing practical training and simultaneously as a student with the Board of Studies for theoretical education. The candidate is a trainee for a period of three years. During this period he gets thorough knowledge of the various fields in which a Chartered Accountant can render services. During this period the articled clerk will also need to continue studies for the CA exam.
The candidate could register as a final student and write the final exam once they passed the PCE and the Information Technology training. The final examination also has similar type of papers of two groups, four papers each.
Subjects for Final Course:
Paper 1 – Advanced Accounting
Paper 2 – Management Accounting & Financial Analysis
Paper 3 – Advanced Auditing
Paper 4 – Corporate Laws & Secretarial Practice
Paper 5 – Cost Management
Paper 6 – Management Information and Control Systems
Paper 7 – Direct Taxes
Paper 8 – Indirect Taxes
The person should get minimum of 40% mark with an aggregate of 50% in a group and once the final examination and article ship completed, the Charted accountant should under go a communication and management course that would help him for better communication. On successful completion of the Final examination one becomes the member of the Institute. Member of the Institute may either practice as a Chartered Accountant on his own or go for employment.
Their main areas of work include Accountancy, Auditing, Cost accountancy, Taxation, Investigation and Consultancy. The main Posistion one can get after completing one’s CA are:
- Chartered Accountant
- Finance Managers
- Financial Controllers
- Financial Advisors
- Finance Director
Salary of a CA:
- Trainee: Rs. 2,500 – Rs.4,000
- Fresher : Rs. 5,000 – Rs. 8,000
- Accounts Managers : Rs. 7,500 – Rs.9,500
- Financial Controllers : Rs. 10,000 – Rs. 15,000
- Financial Director : Rs. 12,000 – Rs. 25,000
- Experienced CA : Rs. 50,000 or Above
Major Chartered Accountancy Companies :
- HDFC Standard Life-Chartered Accountancy Co.
- ICICI Prudential
- Tata AIF Life
- Om Kotak Mahindra
- Birla Sun-Life
- Max New York Life
- SBI Life Chartered Accountancy
- ING Vysya Life
- ICICI Lombard
- IFFCO Tokyo
- Royal Sundaram