Career as Chartered Accountant
A banner in front of the Institute of Chartered Accountants
of India reads -
"Drive slowly, don’t kill our students..... leave them
to us....."
If this joke could make you smile, then you are ready to
take a plunge in Chartered Accountancy. The hard work and the dedication needed
to clear these exams make chartered accountancy such a dynamic profession and
often, a dreaded one too.
Chartered Accountants are professional people who work in
the field of business and finance and their job encompasses areas like audits,
taxation, company law, financial accounting and general management of
companies. They can either work as self-employed professionals, or work as
employees in public or private sector. As an employee, a C.A.'s basic job is to
maintain accounts, complying the regulatory requirements and provide inputs on
financial managements.
As a professional, they do financial audits, give financial
advice to the company or individual, advice the clients on tax planning,
mergers and acquisitions and male management reports giving recommendations
after mandatory audits.
How?????
Courses & Eligibility
Chartered Accountancy: The course can be pursued from
Institute of Chartered Accountants of India, which regulates the CA profession,
which is the only institute which offers course of chartered accountancy and
gives CA certification.
Under the existing chartered accountancy scheme of
education, training and examination, the requirements for becoming a chartered
accountant are as follows: (as per ICAI)
- Enroll with the Institute for Common Proficiency Test (CPT) after passing class 10th examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto.
- Appear in CPT after appearing in the senior secondary examination (10+2 examination) conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto and after completion of specified period (60 days) from the date of registration for CPT with the Board of Studies as on the first day of the month in which examination is to be held, viz., students registered on or before 1st April/1st October will be eligible to appear in June/December examination, as the case may be. However, candidate should pass both CPT and 10+2 before registering for Integrated Professional Competence Course (IPCC).
- Enroll for Group I or Group II or for both Group I and Group II of Integrated Professional Competence Course (IPCC) to become “Chartered Accountant”.
- Successfully complete 9 months of study course from the date of IPCC registration.
- Successfully complete Orientation Course of one week spanning 35 hours and covering topics, such as personality development, communication skills, office procedure, business environment, general commercial knowledge, etc., before commencement of articled training.
- Successfully complete 100 hours Information Technology Training (ITT) before commencement of articled training.
- Appear and pass Group I as well as Group II of Integrated Professional Competence Examination (IPCE). Group I is composed of four papers and Group II is composed of three papers.
- Register as Articled Assistant for a period of 3 years, on passing either Group I or both the Groups of IPCE.
- Register for CA Final Course and prepare for CA Final Examination.
- Undergo General Management and Communication Skills (GMCS) (15 days) course while undergoing Final Course and serving the last 12 months of articled training.
- Complete 3 years period of articled training.
- Appear in the Final Examination on completion of the practical training or while serving last 6 months of articled training on or before the last day of the month preceding the month in which the examination is to be held.
- Pass final examination and complete GMCS, if not completed earlier.
- Enroll as a member of ICAI and designate as “Chartered Accountant”.
NOTE-
* Common Proficiency Test (CPT) is an entry level test for
Chartered Accountancy Course. It is an objective type test of 200 marks of 4
subjects namely, Fundamentals of Accounting, Mercantile Laws, General Economics
and Quantitative Aptitude with an objective to test the basic knowledge in
these subjects. CPT is divided into two sessions of two hours each. In the
first session there are two sections: Section A – Fundamentals of Accounting
carrying 60 marks and Section B – Mercantile laws carrying 40 marks. In the
second session there are two sections: Section C – General Economics carrying
50 marks and Section D – Quantitative Aptitude also carrying 50 marks. These
two sessions are of two hours each
* Students who have graduated in Commerce with 50% marks,
non- commerce graduates with subjects other than Mathematics and an aggregate
of 55% and non-commerce students with Maths and an aggregate of 60% do not have
to appear for the CPT test and can directly register themselves for Integrated
Professional Competence Course (IPCC).
During the course in
various groups one has to study Fundamentals of Accounting, Mathematics and
Statistics, Economics, Mercantile Law, Accounting, Law, and Auditing, Cost
accounting, Income-Tax & Central Sales Tax, and Organisation &
Management and Fundamentals of Electronic Data Processing.
For the final
examination one has to study: Advanced Accounting, Management Accounting,
Auditing and Company Law, Direct Tax Laws, Corporate Management, Secretarial
Practice, Managerial Economics and National Accounting, Operational Research
and Statistical Analysis, System Analysis and Data Processing, Costs Systems
and Cost Control, Management Information and Control Systems, Tax Planning and
Tax Management, Management and Operational Audit.
Course Fees
Unlike other professional courses, the fee for becoming a CA
is very less, which is often inclusive of the cost of study material. The fee
for CPT is approximately Rs.6700/- while that of IPCC is Rs.9000/-.
Where to Study
Institute of Chartered Accountants of India
Other colleges from which you can pursue a B.Com,BBA,BBM degree
1.Shri Ram College of Commerce (SRCC) Delhi Click me
2.Loyola College (Chennai) Click me
3.St Xavier’s College (Kolkata) Click me
4.Presidency College (Chennai) Click me
5.St. Joseph’s College (Bangalore) Click me
Pay and Remuneration
The Chartered Accountants generally get paid depending upon
ones' work experience and the firm where one is placed. Candidates holding CA
inter- qualification have a starting pay of around Rs.7500/- per month, while a
full fledged CA after having worked for around 5 - 8 years in a good firm,
draws a salary anywhere between Rs.10 lakhs to 15 lakhs per year. Whereas those
working as independent professionals also earn a very healthy sum, depending
upon number of clients services etc.
Career Prospects
With the changing times, campus interviews are organized by
the institutes for freshly qualified chartered accountants at various centres
like Mumbai, Delhi, Kolkata, Bangalore, and Chennai. Fresh professionals are
interviewed and the deserving ones are immediately absorbed by organizations.
Other than these interviews, a Chartered Accountant can explore a few other
possibilities.
• He can choose to set up his own independent practice and
develop his own clients on merit.
• He can apply for as job at an existing firm of Chartered
Accountants.
• He can offer his services in the field of capital market.
• A qualified Chartered Accountant can join the Government
Service, Public Sector or even in the Private Sector.
• Institute of CA of India is also well recognised abroad
like in England, Wales and Australia so one can even practice in these
countries as well.
For more info contact - www.icai.org
BEST OF LUCK!!!!!!!!!!!!
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