Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103

Deprecated: Function eregi() is deprecated in /home/maafound/public_html/system/library/classes/dbclass.php on line 103
Career - Maafoundation.org
Maa Foundation
Tell A Friend Daily Digest Gujarati Portal
Tell A Friend Daily Digest Daily Digest
Home page Home About Us Page About Our Portal Projects Page About Us Affiliate With Us Projects Contact Us Our Events Careers Careers Contact Us FCRA Contact Us Yearly Planner Contact Us Corporate Brochure FCRA Contact Us
 
Chartered Accountancy
Back
 
Eligibility and Course Duration Industry Size Industry Growth Individual Growth Best Colleges
10+2 for PE I, Graduation from any field for PE II. 4 years for students joining PE I, 3 years for students joining PE II. Articleship period 3 years 25000cr. 10-15%. Individual practice. With Corporate upto CFO/CEO. The institute of Chartered Accountant of India, New Delhi
 

Chartered Accountancy Course is a professional course in Accounting introduced in our country 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. 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.

A Chartered accountant is one who is specialised in accounting, auditing and taxation. He also serves as a management and corporate caretaker. In recent times, accountancy has become popular as a profession. The services of a CA is required in money matters even in a small business . Moreover according to the Company Act only CA's in professional practice are allowed to be appointed as auditors of companies in India. A chartered accountant is a person who is accepted as a member of the Institute of Chartered Accountants of India (ICAI) after having passed the Final examination of the Chartered accountancy course conducted by the institute.

CA programme is of two years apart from the training period. It has three sections, Professional Education (course-I), Professional Education (course-II) and Final examination. A candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the CA programme. Commerce graduates with 50% marks, non-commerce graduates with subjects other than Mathematics with an aggregate of 55% marks and non-commerce graduates with Maths with an aggregate of 60% marks has exemption from doing the professional course I and are permitted to register for Professional Education Course II. The registration for Professional Education Course-I & Course II is open throughout the year. A student may register at any time during the year. However, as the examinations 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.

After passing the Professional Education exam II candidates are eligible for registration as articled clerks/audit clerks for practical training.Computer Training Programme is compulsory for the candidates who wish to register themselves as auditor clerk. Students can undergo this programme while pursuing Professional course I or course II. Articled clerk is a trainee attached to a practicing chartered accountant under a Deed of Articles for the duration three years. During this period the articled clerk will also need to continue studies for the CA exam. An audit clerk is a person who has served as a salaried employee for a minimum period of one year under a practicing chartered accountant. During the training period, candidates would be required to work in different areas learning the basics of auditing and taxation . This training enables them to learn the technical details of the job as well as to get an idea of the working environment of the profession.

The scope for this lucrative career is bright in an economically developing nation like ours and as such the career can be termed as challenging and rewarding for competent professionals in the field.

 
Eligibility & Course Areas

A Candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the Professional Education course I (PE I)of the CA programme. There are no restrictions with regard to the age of the candidate or marks secured in Senior Secondary Examination.

Commerce graduates with 50% marks, non-commerce graduates with subjects other than Mathematics with an aggregate of 55% marks and non-commerce graduates with Maths with an aggregate of 60% marks are exempted from the Professional Education course I, and are permitted to register for Professional Education course II (PE II).

Candidates who have passed the Final Examination conducted by the Institute of Cost & Works Accountants of India (ICWAI) or the Institute of Company Secretaries of India (ICSI) can register for professional education course II.

After passing Professional Course II, the candidates can register as Articled clerks for practical training and for admission to the Final course of the Chartered Accountant. Every graduate above18 years of age is eligible to register as an articled clerk/Audit Clerks for Chartered Accountancy. Computer Training Programme is compulsory for the candidates who wish to register themselves as auditor clerk. Students can undergo this programme while pursuing Professional course I or course II.

Candidates aspiring for this career should have a pleasing personality, practical approach and a natural instinct to deal with figures to do well in this profession.

Job Prospects & Career Options

The growing importance of trade and industry along with the rapid growth of capital and money markets in an economically developing nation like ours, has increased the importance of Chartered Accountants enormously. Moreover all the companies registered under the Companies Act, are required to get their accounts audited only by practicing Chartered Accountants. A qualified Chartered Accountant has the option of joining the Government Service, Public Sector undertakings or taking up a lucrative assignment in the private sector. The duty of Chartered accountant is to ensure that the financial transactions of an organisation are maintained according to the law, they also keep track of cost of management of the company and manage tax matters.

Chartered accountants work as Finance Managers, Financial Controllers, Financial Advisors or Directors (Finance) and watch over the finances in the day to day management of companies. Their main areas of work include Accountancy, Auditing, Cost accountancy, Taxation, Investigation and Consultancy.

The accounting department prepares, analyses financial reports and documents of an organisation. Auditing involves checking the accuracy of the financial statements, ensuring that the accounts presented are drawn up on correct accounting principles. Cost Accountancy involves maintaining cost auditing records, compiling cost information, installing cost control and performing cost audits. Taxation involves dealing with direct taxes, like income tax and wealth tax, assessment of taxes, filing returns and providing advice on indirect taxes. Investigation include expert examination of specific aspects of businesses for the information of interested parties on new issues of share capital, the purchase, sale or financing of a business and for reconstruction. The various areas of consulting include Management accounting and internal audit, corporate law advice, project planning and finance, business advise, systems design and information consultancy. Chartered Accountants also act as directors, arbitrators for settling disputes, handling work related to insolvency, bankruptcy etc. and also as executors under a will or trust in order to carry out the administration of an estate or settlements. They are also engaged in activities like markets research, budget planning, working capital management, inventory control, policy planning, securities consultancy, registrar of issues of securities etc.

Some of the opportunities available for Chartered Accountants are in capital markets, business houses and industry. They can also have their own consultancy or private practice which could be more lucrative and satisfying. With the country liberalizing its policies and approach, opportunities are expected to grow further.

Course Details

CA programme is of four years course for students joining from the PE I section, including the articleship training period. For students joining PE II section directly it is a three years course. It has three sections, Professional Education (PE-I), Professional Education (PE-II) and Final examination.

Professional Education Course -I and Subjects

Anyone who has a 10+2 can enroll for the Professional Education Course I. Duration of the course is 10months. Graduates who doesn't have the request percentage of marks have to do the Professional Course I. The registration for Professional Education Course I 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. Students have to ensure their registration at least 10 months before the examination. The application for registration should reach the office of the institute on or before 30th of June and for November Examination on or before 31st December of the preceding year. A candidate is declared successful in Professional course I, if he/she secures an aggregate of 50% of the total marks in all the papers subject to a minimum of 40% marks in each paper.

Subjects for Professional course I

  • Paper 1- Fundamentals of Accounting
  • Paper 2 - Mathematics & Statistics
  • Paper 3 - Economics
  • Paper 4 - Business Communication and Organization and Management

Registration for Professional Education course-I

Eligible candidates have to forward their application for registration along with a crossed demand draft for the requisite amount (registration and tuition fee) drawn in favour of Secretary, The Institute of Chartered Accounts of India payable at the respective places where the institute�s offices are located.

Professional Education Course-II & Final Course

The CA Programme is mainly divided into Professional Education Course II and Final course. After completing the Professional Education Course I or graduation with required marks can go for Professional Education Course II .The registration for Professional Education (Course-II) 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.

After passing the Professional Education Examination-II, and 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. 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.

Subjects for study

Professional Education course-II

    Group I
  • Paper 1 - Accounting
  • Paper 2 - Auditing
  • Paper 3 - Business and Corporate Laws
    Group II
  • Paper 4 - Cost Accounting and Financial Management
  • Paper 5 - Income Tax & Central Sales Tax
  • Paper 6 - Information Technology

Final Course

    Group I
  • Paper 1 - Advanced Accounting
  • Paper 2 - Management Accounting & Financial Analysis
  • Paper 3 - Advanced Auditing
  • Paper 4 - Corporate Laws & Secretarial Practice
    Group II
  • Paper 5 - Cost Management
  • Paper 6 - Management Information and Control Systems
  • Paper 7 - Direct Taxes
  • Paper 8 - Indirect Taxes

New scheme details

The ICAI has reviewed its above mentioned scheme and has designed and implemented a new scheme from April 2007 onwards,the details of which are as follows:-

Updated on April 19, 2007
Common Proficiency Test (CPT)
It is an entry level test for Chartered Accountancy Course. It is a test of four subjects i.e., Accounting, Mercantile Laws, General Economics and Quantitative Aptitude with an objective to test basic knowledge in these subject areas. This test is of 200 marks. This test is divided into two sessions of two hours each with a break in between. CPT is an objective type test with negative marking. Subjects to be studied in CPT are as follows:
SESSION  I (Two Sections : Two hours : 100 Marks)
  • Section A: Fundamentals of Accounting ( 60 Marks )
  • Section B: Mercantile Laws ( 40 Marks )
SESSION  II (Two Sections : Two hours : 100 Marks)
  • Section C: General Economics ( 50 Marks )
  • Section D: Quantitative Aptitude ( 50 Marks )
Professional Competence Course (PCC)
This is first stage of the chartered accountancy curriculum wherein only working knowledge of core and allied subjects to accountancy profession is covered, while at the Final course, advanced application knowledge of core and allied subjects to accountancy profession has been intended to be inculcated. The unique feature of the entire theoretical education of the Chartered Accountancy curriculum is the supportive and complementary practical training. A student would undergo theoretical education and practical training concurrently from the beginning of the first stage of theoretical education. This balanced approach will help the students to appreciate the underlying practical applications of the theoretical education scheme.
Neither a stand-alone theory nor a practice without theoretical knowledge would make a professional successful. Moreover, there is a need to develop proper understanding of the business environment and information technology which acts as an important business process driver. It is also essential to sharpen communication skills to be able to work successfully in the competitive business environment.
Subjects covered in PCC
Group I

Paper 1:

Advanced Accounting (100 Marks)

Paper 2:

Auditing and Assurance (100 Marks)

Paper 3:

Law, Ethics and Communication
Part I: Law (60 Marks)
Business Laws (30 Marks)
Company Law (30 Marks)
Part II: Business Ethics (20 Marks)
Part III: Business Communication (20 Marks)

Group II

Paper 4:

Cost Accounting and Financial Management
Part I: Cost Accounting (50 marks)
Part II: Financial Management (50 marks)

Paper 5:

Taxation
Part I: Income-tax (75 Marks)
Part II: Service Tax and VAT (25 Marks)

Paper 6:

Information Technology and Strategic Management
Section A: Information Technology (50 marks)
Section B: Strategic Management (50 marks)

The subjects of PCC are classified into two groups which a student can study and appear in the examination group-wise or both the groups together. For detailed syllabus of PCC see Annexure I.
Professional Competence Course: Highlights
  • Improved knowledge of accountancy linked to accounting standards to build strong foundation for developing knowledge of Financial Reporting at the Final stage;
  • Inculcating ethical values through a module of Business Ethics;
  • Updated knowledge of business communication through modules of developing soft skill, leadership style, group dynamics and developing knowledge of business meetings and legal documents;
  • Building knowledge of business strategies, business environment and corporate governance;
  • Introducing Service Tax and VAT as special module with the purpose of strengthening knowledge of indirect tax;
  • Upgraded module of Information Technology linked to the 100 Hours Information Technology Training;
  • Upgraded modules of Audit and Assurance, Cost Accounting and Financial Management;
  • Imparting basic knowledge of e-filing under the company law leading to development of advanced knowledge of e-governance at the final stage.
Final (New) Course

Subjects covered in Final (New) Course
Group I

Paper 1:

Financial Reporting (100 Marks)

Paper 2:

Strategic Financial Management (100 Marks)

Paper 3:

Advanced Auditing and Professional Ethics (100 Marks)

Paper 4:

Corporate and Allied Laws (100 Marks)
Section A: Company Law (70 Marks)
Section B: Allied Laws (30 Marks)

Group II

Paper 5:

Advanced Management Accounting (100 Marks)

Paper 6:

Information Systems Control and Audit (100 Marks)

Paper 7:

Direct Tax Laws (100 Marks)

Paper 8:

Indirect Tax Laws (100 Marks)
Section A: Central Excise (40 Marks)
Section B: Service Tax & VAT (40 Marks)
Section C: Customs (20 Marks)

 

Remuneration

Chartered Accountancy is a well-paid profession, be it Government Service, private firms or own consultancy. Most multi-national firms provide numerous perks besides the salary such as medical benefits, house allowance and so on. Some of the average monthly earnings range between Pre Qualification Rs. 2,500 - Rs.5,000 or more per month, Fresh CA's Rs. 8,000 - Rs. 12,000 per month or more, Accounts Managers Rs. 8,500 - Rs.12,500 per month or more, Financial Controllers Rs. 12,000 - Rs. 25,000 p.m. or more, Directors Rs. 35,000 - Rs. 50,000. The remuneration varies with experience as well as the city in which the C.A. is working.Practising Chartered Accountants can earn money depending on their cliental and according to the company they work for or depending upon the cities they are working in.

Best Colleges

The Institute of Chartered Accountants of India
www.icai.org

Related career
Back