This content description is about the Chartered Accountant profession, admission notification, eligibility criteria, salary of a Chartered Accountant and the list of best Chartered Accountant institutes in India offering admission. Read the full story to know more about Chartered Accountant Admission 2023 and how can you make your career in this domain.
Table of Contents
Introduction to Chartered Accountant
Commerce students who want to get a good and reputed job in their field can become a Chartered Accountant by pursuing and completing the CA course. In India, Indian Chartered Accountants Institute (ICAI) is the concerned authority that provides the CA course and degree. There are no proper classes for this pursuing this course and can be completed by the candidates from the comfort of their homes. Salary structure for a Chartered Accountant professional is quite lucrative and therefor many students go for this course after 12th or after graduation.
The Chartered Accountancy course has been broken down into three levels- CPT (Common Proficiency Test), IPCC (Integrated Professional Competence Course) and FC (Final Course) and after completing all these levels, the candidate finally becomes a Chartered Accountant. Get details about the Chartered Accountant course, salary, job, etc from this post.
Chartered Accountant Course Overview
Check out a basic overview of this program below.
|Course level||Professional level course|
|Course duration||5 years|
|Minimum eligibility||Candidates who have passed their class 12th exam preferably from Commerce stream are eligible for foundation level course.|
|Salary structure||Rs. 7 lacs to Rs. 8 lacs per annum|
|Job area||Finance Companies, Banks, Auditing Firms, Portfolio Management Companies, Patent Firms, Legal House, Mutual Funds, Stock Broking Firms, Attorneys, Investment Houses, Legal firms, Copyright Registers, Trade Marks|
|Job position||Operating Accountant, Tax Manager, Budget Control Officer, Auditor, Part-time Teacher|
The eligibility criteria for different levels of Chartered accountant are given as follows:
For Foundation course:
- Candidates who clear their class 12th exam from any stream are eligible.
For Intermediate course:
- Applicants who pass the Foundation level exam can apply for intermediate level course.
- The applicants with any graduation or postgraduation degree with at least 55% marks (60% marks for Commerce graduates/ postgraduates) can apply too.
- Those with a pass in Intermediate level exam of Institute of Company Secretaries of India and Institute of Cost Accountants of India are also eligible.
- Applicants should have studied eight months course as on the first day of the month in which the exam will be held (for foundation route applicants).
- Completion of nine months Practical Training on or before the last day of the month preceding the month in which the exam is to be held (for direct entry applicants) is also mandatory.
For Final course:
- A pass in Intermediate level exam is required.
- Candidates should complete the Practical Training on or before the last day of the month preceding the month in which the exam is to be held.
- Applicants serving the last six months of practical training (including excess leave) on the first day the month in which the exam will be held are eligible too.
- The candidates need to complete AICITSS.
Career in Chartered Accountant
For those with a certificate of Chartered Accountancy, career scope is very bright. It is counted as one of the most reputed jobs in the country and candidates are offered a good salary package once they complete their course. Almost every big company or industry requires someone to manage their accounts and finances with a CA degree.
Expected Salary in Chartered Accountant
Professionals with a degree in Chartered Accountancy can earn an average salary of Rs. 3 lacs per annum to Rs. 6 lacs per annum at fresher level. The pay scale varies from one employer to another and is also determined on the basis of skills of the CA professional. With time, the salary grows and once the course is completed, a handsome salary package waits for those with the CA certificate. For a professional who has completed all the three level of CA course, the starting salary package is around 7 lacs per annum to 8 lacs per annum.
Question 1: Is it possible to jump directly to intermediate level without pursuing the foundation level course?
Answer: Candidates who hold a graduate or postgraduate degree in any field with 55% marks or in Commerce stream with 60% marks can apply directly for intermediate level course without pursuing the foundation level course.
Question 2: How can I get study material for different level courses of Chartered Accountancy?
Answer: Candidates who register themselves successfully for the different level courses will receive the relevant study material through Centralized Dispatch System (CDS) sent by ICAI.
Question 3: How can I register for different level courses of Chartered Accountancy?
Answer: Interested candidates can register for different level courses of Chartered Accountancy by visiting the official website of ICAI www.icai.in. A copy of the application form with copies of important document should be sent to the concerned regional office within 7 days of the date of online registration.
Question 4: Is it mandatory to complete all three levels to obtain the Chartered Accountancy certificate?
Answer: The candidates can skip the foundation level course and get direct entry to intermediate course. But it is mandatory to complete the intermediate and final level course to obtain the Chartered Accountancy certificate.
Question 5: Can you describe the ICAI Chartered Accountant course structure?
Answer: Check out the structure for Chartered Accountant course below:
For Foundation course:
Paper 1: Principles and Practice of Accounting (Subjective type, 100 marks)
Paper 2: Business Laws & Business Correspondence and Reporting (Subjective type, 100 marks)
- Part I: Business Laws (60 marks)
- Part II: Business Correspondence and Reporting (40 marks)
Paper 3: Business Mathematics and Logical Reasoning & Statistics (Objective type, 100 marks)
- Part I: Business Mathematics (40 marks)
- Part II: Logical Reasoning (20 marks)
- Part III: Statistics (40 marks)
Paper 4: Business Economics & Business & Commercial Knowledge (Objective type, 100 marks)
- Part I: Business Economics (60 marks)
- Part II: Business and Commercial Knowledge (40 marks)
For Intermediate course:
Paper 1: Accounting (3 hours, 100 marks)
Paper 2: Corporate & Other Laws (3 hours, 100 marks)
- Part I: Company Law (60 marks)
- Part II: Other Laws (40 marks)
Paper 3: Cost and Management Accounting (3 hours, 100 marks)
Paper 4: Taxation (3 hours, 100 marks)
- Part I: Income Tax Law (60 marks)
- Part II: Indirect Taxes (40 marks)
Paper 5: Advanced Accounting (3 hours, 100 marks)
Paper 6: Auditing and Assurance (3 hours, 100 marks)
Paper 7: Enterprise Information Systems & Strategic Management (3 hours, 100 marks)
- Part I: Enterprise Information Systems (50 marks)
- Part II: Strategic Management (50 marks)
Paper 8: Financial Management & Economics for Finance (3 hours, 100 marks)
- Part I: Financial Management (60 marks)
- Part II: Economics for Finance (40 marks)
For Final course:
Paper 1: Financial Reporting (3 hours, 100 marks)
Paper 2: Strategic Financial Management (3 hours, 100 marks)
Paper 3: Advanced Auditing and Professional Ethics (3 hours, 100 marks)
Paper 4: Corporate and Economic Laws (3 hours, 100 marks)
- Part I: Corporate Laws (70 marks)
- Part II: Economic Laws (30 marks)
Paper 5: Strategic Cost Management and Performance Evaluation (3 hours, 100 marks)
Paper 6: Elective Paper (One to be chosen from the following) (3 hours, 100 marks)
- 6A: Risk Management
- 6B: Financial Services & Capital Markets
- 6C: International Taxation
- 6D: Economic Laws
- 6E: Global Financial Reporting Standards
- 6F: Multi-disciplinary Case Study
Paper 7: Direct Tax Laws & International Taxation (3 hours, 100 marks)
- Part I: Direct Tax Laws (70 marks)
- Part II: International Taxation (30 marks)
Paper 8: Indirect Tax Laws (3 hours, 100 marks)
- Part I: Goods and Services Tax (75 marks)
- Part II: Customs & FTP (25 marks)