Brief on CA:
CA is generally the abbreviation of Chartered Accountant. When we hear of the word Accountant Profit/Loss like terms comes to our mind, CA is the certification a person can avail in the field of Accountancy. The candidate aspiring to pursue their career in accounting, CA is one of the best options for them. The candidate with a degree in CA are globally recognized and are in a great demand across the globe. The type of work carried out by the Public Accountant is to review and auditing of the client’s financial statements, preparation of income tax returns etc. Many companies depend highly on CA’s for any decisions related to investments or any financial expansions. Through this article let us understand the details of the CA Course in a broader view.
CA Course Details
The Chartered Accountant Course is carried out in four levels and is monitored by The Institute of Chartered Accountants of India (ICAI), New Delhi. The levels are as follows:
- Common Proficiency Test (CPT)
This is the initial test carried out by ICAI for the further enrollment into the course of CA. The candidate who has passed 10th exams can register for CPT with ICAI. The exams are conducted in April/June/October/December. CPT consists of objective type questions on four sections namely: Accounting, Mercantile Laws, General Economics and Quantitative Aptitude. The test if for 200 marks and is carried out in two sessions for two hours each. The exam has negative markings for wrong answers. The forms to register can be availed @ http://www.icai.org. The fees towards the examination is Rs. 1000/- for Indian centers. The candidate can appear in the examination only once they have appeared for the higher secondary examination and have proof towards it. Minimum of 50% marks is required to further be eligible for the CA course.
2. Integrated Professional Competence Course (IPCC)/IPCE
This is the second stage of further getting into the course of CA. The Candidate has to register for IPCC course and the eligibility is as follows:
- The candidate must have passed the CPT test with minimum percentage requirements and should have passed the higher secondary examination.
- Students who are graduates/ Post-graduates in Commerce with 55% passing percentage, graduates with different streams than commerce should have a passing percentage of 60% to be able to register.
- Along with the filled form, the candidate must attach the copy of the certificate for higher secondary, CPT passing scorecard, Demand Draft towards the course.
IPCC has a total of seven papers divided into Group I and Group II. Group I has four papers and Group II has three papers. It is necessary to clear Group I paper for the article-ship.
3. Three years Articleship/ Training under a Practicing C.A
- Candidate must have cleared Group I examination stage to apply for Articleship. It can also be applied after completing both the group exams.
- Candidate must also complete ITT(Information Technology Training) and Orientation before applying for the Articleship program.
- A candidate must register for 3 years of Articleship with a practicing CA.
4. C.A Final Course
The last stage of becoming Chartered Accountant is to clear the C.A final course. Generally, candidate registers for the final course during the last six months of the three years of articleship. Candidate can also apply for CA final course after completing both the group exams in IPCC.
After the successful completion of the three years of training under a certified chartered accountant, the candidate can Enroll as a member of ICAI and designate as a Chartered Accountant.
CA: Career Prospects
Career opportunities for Chartered Accounts are huge and are in high demand. The Certified CA can have the following job profile :
- Consultancy firms
- Work in Financial Institutions
- Large organization and companies
- Business houses and Industries
- Can run independent practice firms
- Can work for Capital Market services
Salary: On an average, a certified Chartered Accountant can earn 3 Lakh to 15 Lakh per annum. The income also depends on the size of the company and the position of the candidate in the company depending upon the experience. some of the top banks which require Certified CA’s are HSBC, HDFC Bank, American Express etc.
Useful Tips for a Chartered Accountant
- Should have a Business Acumen.
- Should have a good Numerical Ability.
- Should have a logical and methodical approach.
- Good Verbal and written ability.
- Should be able to take the stress.
- Analytically inclined and should have ethical values.
- A Disciplined attitude and should be able to handle a different kind of people.