Chartered Accountants are some of the highest paying professionals in India in the non-technical field. It is considered as one of the brightest career options for those seeking opportunities in the commerce fields. The CA certification comprises of education and exams in the field of business, taxation, and accounting.
The procedure to become a Chartered Account (CA) is challenging, as candidates have to clear various exams at different levels, but it is very promising. Although the Chartered Accountancy course duration is almost 5 years, it can take more time than that if candidates take more than one attempt to clear the exams.
Chartered Accountancy professionals are required across various business organisations in India be it private or public. A qualified CA is hired to deal with the account details, tax dues, and investments of an organisation. CA also assists in solving disputes and avoiding bankruptcy.
• The first step in the career path of a CA is to appear for the Chartered Accountant CPT and then enroll for the ATC. This can be done after clearing 10+2
• Those candidates who have cleared the Entrance Examination or Professional Education (Examination-I) or Foundation Examination can register directly for ATC.
• Candidates who had applied for Intermediate/ Intermediate (Professional Competence) programme/ Professional Education (Course-II) prior to this can also register for ATC.
• Candidates should have secured at least 100 out of 200 marks in CPT after class 12 if they want to register for IPCC programme.
• Registration for IPCC must be done nine months prior to the first day of the month in which the exam will be held.
• The course consists of 7 subjects, each comprising 100 marks. In order to clear the course, candidates will have to score at least 40 marks in every subject with an aggregate of 50% or above.
• Scoring 60 marks and above in any subject will exempt you from reappearing for that particular subject in case you fail the course and plan to give the exams again.
After clearing the IPCC, an internship of 3 years under a certified CA is mandatory for all candidates. The articleship is to gain practical perspective in the field of accountancy.
During the last six months of the 3-year articleship, candidates can appear for the final course exams. After clearing the final course, candidates are awarded the designation of Chartered Accountant.
CPT (Common Proficiency Test)
Foundation Course is the entry level for Chartered Accountancy Course. Students after appearing in class 12th examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto can register for Foundation Course. Students can appear in the Foundation Examination after qualifying the senior secondary (10+2) examination conducted by an examining body constituted by law in India or an examination recognised by the Central Government as equivalent thereto. Students after registration to the course are required to complete a minimum of 4 months study period from the date of registration in order to be eligible to appear in the Foundation Examination, i.e., students registered on or before 30th June/ 31st December will be eligible to appear in November/ May examination, as the case may be.
Students who are Graduates/ Post Graduates with prescribed percentage marks or its equivalent grade in the examination conducted by any recognized University (including Open University) or Intermediate level examination passed students of The Institute of Cost Accountants of India or The Institute of Company Secretaries of India are exempted from passing Foundation Course. Such students on fulfilling the requirements can register directly to Intermediate Course.
Foundation Course comprises of four papers, out of which two are subjective and two are objective type. Negative marking for choosing wrong options is there in objective papers
Foundation Examinations are held twice a year in the months of May and November. Examination Department issues notifications/announcements regarding conduct of Foundation Examination on Institute’s website www.icai.org/Newspapers. The said notification contains the proposed Examination Centres, in India and abroad. After getting registered for Foundation Course, students are also required to fill in separate application form for appearing in Foundation Examination.
Foundation Course registration is valid for 3 years and can be revalidated any number of times for further 3 years period by paying revalidation fee of Rs. 300/- or as decided by the Council from time to time.