Chartered Accountant Course Details – eligibility, fees, syllabus, duration

What is a Chartered Accountant

CHARTERED ACCOUNTANT (CA)is an influential person who is the breath of every company. In addition to its tax compliance responsibility, it has many other crucial tasks. In fact, a CA is a technically competent as well as a competitive professional with great knowledge and practise.CA enjoys a formidable position in every company. The profession is highly respected as a CA has good practical knowledge to serve dynamic solutions to the company. The professionals generated by CA course are dynamic professionals with good practical tactics and skills. This article will discuss in-depth the Chartered Accountant Course Details. For CS(Company Secretary checkout article ->Company Secretary.

For a Career in Commerce read: Career in Commerce Stream

ICAI – Institute of Chartered Accountants of India

The Institute Of Chartered Accountants Of India (ICAI) is a national professional body set up on 1st July 1949 under Chartered Accountants Act, 1949. institute of chartered accountants of India(ICAI) regulates and administers the chartered accountancy course.ICAI issues Standards of auditing and Other technical standards to be observed by all CAs. The official website of ICAI is www.icai.org. ICAI is addressed as ‘Partner In Nation Building’. It helps in the formulation of economic legislation.
ICAI conducts and monitors examinations in the course. Study materials and online registration facilities are provided by ICAI. In addition, ICAI conducts induction programmes as well to give soft skills and personality development classes. It is also responsible for issuing circulars and notifications timely. That is why Institute Of Chartered Accountants Of India is the first thing we discussed as a part of Chartered Accountant Course Details.

Role Of A CA

A CA enjoys a monopoly in the audit of financial statements. He is responsible for financial reporting, auditing, taxation, business recovery, and insolvency. The areas of expertise and professional practice include Investment Banking, Direct Tax, Indirect Tax, Fund management, Risk Management, Credit analysis etc. Apart from this, CA’s can work in management positions such as CEO, CFO etc.

Chartered Accountant Course Details

Below are the details of Chartered Accountant Course Details.
Every student has to pass through the three stages of CA course.

Foundation Stage:

This is the first stage of the CA course. On clearing 10th grade in commerce or any other recognized degree student can apply for Common Proficiency Course (CPC). After 10+2 students can appear for Common Proficiency Test (CPT). The CPT exam is conducted twice in one year in months of May and November. Students who want to appear for May should register before 31st December and those who want to appear for November should register before 30th June.

Intermediate stage:

This is the second stage. A student who has qualified in CPT can register for the second level which is Integrated Professional Competence Course (IPCC). Also, one can directly register for IPCC after graduation/post graduation in commerce with 55% and graduation/ post graduation in other fields with 60%. Exams are held in the months of May and November.

Final Stage:

The final stage comes when the student has completed all previous exams and required training. After passing the final stage student has to apply for membership. In May and November exams are conducted.

Course Duration

Let us discuss the course duration as a part of Chartered Accountant Course Details.
The course duration for the three stages is as follows:
1. Foundation: The course duration is four months. Furthermore, it depends upon the caliber of student. The four-month duration is calculated from the date of registration into foundation stage to date of exam.
2. Intermediate: The course duration is 8 months. The duration is calculated from the day of registration till exam date.
3. Final: The final course duration is minimum 3 years. The calculation is done from the day of registration in the final stage to appearing in exam after completion of 3-year training.

Foundation Syllabus

In CA foundation programme there are total four subjects. Each paper is of 100 marks. A student has to secure minimum 40% in each paper and overall 50% aggregate of all. There are total four subjects. Paper 1&2 are subjective ones and paper 3&4 are objective ones with negative marking.
1. Principles And Practice Of Accounting
2. Business Laws And Business Correspondence and Recording
3. Business Mathematics, Logical Reasoning, and Statistics
4. Business Economics And Business And Commercial Knowledge

Intermediate Syllabus

There are two groups in the IPCC syllabus. Each exam is of 100 marks. Students have to secure 40% in each subject. The aggregate of 50%is required.

Group1:
1. Accounting
2. Corporate Laws and Other Laws
3. Cost and Management Accounting
4. Taxation

Group2 :
1. Advanced accounting
2. Auditing and Assurance
3. Enterprise Information Systems and Strategic Management
4. Financial Management and Economics for Finance

A student can appear for any one group also. In this case, students should score an aggregate of 50% in that group. Moreover, a student is considered to have qualified if it appears in both groups and aggregate of both is 50%.

Final Syllabus

The final syllabus consists of two groups. Each paper is of 100marks. A student should secure minimum 40% in each subject. A student should secure 50% in all groups taken together.
Group 1:
1. Financial Reporting
2. Strategic Financial Management
3. Advanced Auditing And Professional Ethics
4. Company Law (Part A)
Other Economic Laws (Part B)

Group 2:
1. Advanced Management Accounting (Part A)
BPR (Part B)
2. Financial Services And Capital Markets
3. Advanced Direct Tax Laws And International Taxation
4. Advanced Indirect Tax Laws

Course Fees

• •Foundation: Rs 9200
• •Intermediate: Rs 18000
• •Final: Rs 22000

Training Required

For a CA student, practical knowledge is as important as is theoretical knowledge. The complete CA curriculum includes a set of training programs. Institute Of Chartered Accountants Of India has specially designed the course to make competent professionals and develop soft skills in students. Institute Of Chartered Accountants Of India has designed the training program in a way which is to be completed at different stages:

ITT And Orientation

The student should do ITT or Information Technology Training of 100 hours. The student should complete training before taking up articleship training. Orientation includes in its ambit General Management and Communications Skill course. It’s a 35 hours training.

Articleship

A student should do Articleship training either after clearing both groups or after clearing any one group of IPCC. It’s a three-year training program specially designed to make students grasp complete work experience. A student can do training under a practicing CA or audit department of any recognized organization.

Enroll As A Member

Finally, after qualifying final examinations and completing articles hip training, Student has to register as a member. The application form is available on its official website.

Study Hours

First and foremost thing required for students aspiring to become a CA is a dedication and adequate sitting regularly for studies. A minimum two-hour study along with articleship is necessary for preparing the final course. Also, one needs to do articleship training with great attention and dedication as it is the learning stage. This is because In this stage one can gain the maximum advantage of practical knowledge.

Professional Competence

A CA is a tax specialist. CA course creates Such professionals who can practice with tax departments, audit firms, law firms etc. They are competent professionals with great talents to put their knowledge in a dynamic business environment.
CA is a good career option and gives ransom earning as well as position. A CA in India on an average earns 7 lakhs to 8 lakhs per year which is a good amount. The institute conducts campus placements as well which helps students land up with good and promising opportunities.