CA - Chartered Accountant
First of all, we should know who is chartered accountant or CA? Chartered Accountant is the person who is responsible to give advice, audit accounts and provide trustworthy information about financial records. This might involve financial reporting, taxation, auditing, forensic accounting, corporate finance, and business recovery.
Chartered Accountancy program is designed by the Institute of Chartered Accountants of India (ICAI). ICAI conducts CA exam to certify a candidate as a qualified Chartered Accountant after the successful completion of this course.
Students of any stream like Commerce, Arts or Science can apply for this program. But they must have to complete their 12th with at least 60% marks.
There are two possible routes of pursuing Chartered Accountancy program. First route is to apply after 12th. And another is to apply after graduation. Duration of the course will be different on different routes.
Duration of CA Program
- CA Foundation course : 4 months
- Result Declaration : takes 2 months
- CA Intermediate course: 8 months
- Result Declaration : takes 2 months
- Articleship Training : 3 Year
Candidate can complete the ICITSS program while waiting for the result of Intermediate exam. And he/she can appear for final exam during the last 6 months of article ship training. So total duration of Chartered Accountancy program after 12th is 4.5 year.
- ICITSS Program : 1 month
- Articleship Training : 3 year
Graduates can directly apply for the CA Intermediate without appearing in the Foundation exam. They have to complete nine months of articleship training to appear in the Intermediate Examination. And before starting such practical training, one must complete ICITSS Program. And he/she can appear for final exam during the last months of Articleship training. So total duration of Chartered Accountancy program after graduation will be nearly 3 years.
Detail of Each Exam and Training Program
CA Foundation Exam
CA Foundation is the entry level test to pursue the Chartered Accountancy course. Students after 12th can register for such course. After registration, they have to complete a four months study program to appear in the CA Foundation Exam. After giving exams, they will get their result within 2 months.
CA Intermediate Exam
CA Intermediate is the second test after CA Foundation. After qualifying Foundation exam, one has to register for the Intermediate. Then a candidate has to complete a study period of eight months to appear in the CA Intermediate Exam. After giving exams they will get result in 2 months.
ICITSS (Integrated Course on Information Technology and Soft Skills)
Students have to complete this program before the beginning of Articleship Training. Duration of this course is one month. You can complete such training while waiting for the Intermediate exam’s result.
Duration of this training program is 3 Years. This is Practical Training. And this is a mandatory part of Chartered Accountancy course. Students can register for Articleship training once they passed either single or both groups of CA Intermediate.
AICITSS (Advanced Integrated Course of Information Technology and Soft Skills)
AICITSS consists of Advance Information Technology and Communication Skills Program. Duration of this program is approximately one month. Students have to complete such program while pursuing their last two years of Articleship Training.
CA Final Exam
CA Final Exam is the last level exam in the Chartered Accountancy course. Students can apply for the Final exams after clearing both groups of Intermediate program. One can appear in the Final Exam while completing their last six months of Articleship training.
Candidate will become a Chartered Accountant once he cleared both the groups of CA Final and have completed his three years of Articleship Training.
- Students must pass their 12th from recognized board or equivalent.
- They can be of any stream like Arts, Commerce or Science.
- Students who pass their 12th with commerce stream , must score at least 55% marks in 12th. And the students of other stream must score at least 60% marks in 12th.
- There is no age criteria to apply for this course.
- The students who complete their graduation can get direct entry into the Intermediate course. There is no need for them to clear CA Foundation Exam.
Total Fees to be paid to ICAI for whole course will be around INR 60,000. If you join coaching classes, then it will cost up to 2 lakhs.
They can get job in auditing firms, banks, finance companies, stock broking firms, legal firms, etc. Not only this, they can start their own CA Firm.
The average starting salary of a Chartered Accountant varies from Rs. 4 to 6 lakhs per annum. After some year of experience they can earn up to 25 lakhs per annum.