Introduction to Chartered Accountancy
Chartered Accountancy offers one of the broadest gateway for a career in financial services. Almost all fields of financial services recognise this qualification and hence CA are eligible to work in banks, stock broking companies, insurance companies, finance department of corporates, investment departments of companies and mutual funds, etc. An important characteristic of the course is that it is a distance education course.
Chartered Accountancy is a challenging profession that offers practice or job opportunities in the areas of accounting, auditing, corporate finance, project evaluation, company and other business laws, taxation and corporate governance. The multi-faceted knowledge a chartered accountant enjoys through unique academic programme blended with practical training is exactly what the modern business needs.
Institute conducting CA course:
Institute of Chartered Accountants of India (ICAI) conducts the CA course. The Institute has its headquarters at New Delhi. In addition, it has five Regional Councils located in Mumbai, Chennai, Kolkata, Kanpur and New Delhi and 117 Branches spread all over the country. The Institute has also 18 Chapters outside India located in Abu Dhabi, Bahrain, Botswana, Doha, Dubai, Indonesia, Jeddah, Kuwait, London, Melbourne, Nairobi, Nigeria, Port Moresby, Riyadh, Saudi Arabia, Sydney, Toronto and Zambia.
Eligibility:
Class 10 pass or Class 10+2 pass are both eligible as per the following procedure:-
. Enrol with the Institute for Common Proficiency Test after passing Class 10 examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto.
. Appear CPT examination after appearing in the Senior Secondary Examination (10+2 examination) conducted by an examining body constituted by law in India or an examination recognised by the Central Government as equivalent thereto and after completion of specified period from the date of registration for CPT with the Board of Studies. This specified period for CPT examination is 60 days. The Common Proficiency Test are conducted twice in a year i.e., in June and December.
Fees:
Fees for the entire course (including course material) is approximately Rs.20000/-
Road Map to becoming a Chartered Accountant:
. Join PCC, articled training and register for 100 Hours Information Technology Training (ITT) after passing CPT and 10+2 examination.
. Undergo 100 Hours ITT on completion of three months of articled training (100 Hours ITT is a 20/25 days programme @ five/ four hours per day; the training will be treated as part of the practical training).
. Appear in Professional Competence Examination (PCE), if
- Worked for not less than fifteen months as an articled assistant or equivalent period as an audit assistant or partly as an articled assistant and partly as an audit assistant, three months prior to the first day of the month in which examination is held or completed 18 months of articled training as on 1st May/ 1st November, as the case may be; and
- Completed 100 Hours ITT.
(Eight months of audit training is treated as equivalent to six months of articled training. Any fractional period of audit training less than eight months is not counted for this purpose)
. Join CA Final course:
- After passing PCE register for Final course with the Board of Studies;
- Collect Study Materials of the Final Course and prepare for Final Examination;
- May undergo General Management and Communication Skills Course during last 12 months of articled training while undergoing Final course; and
- Complete articled training of 3½ years.
. Appear in final examination on completion of the practical training on or before the last day of the month preceding the month in which the examination is held.
. Pass Final examination and complete GMCS Course.
. Enrol for membership.
Duration of the Course:
At least 3½ years for student passing examinations in first attempt.
Career Path:
· CA can work for a company as a finance professional, or
· Start Independent Professional Practice.
Salary expectations:
Currently the average salary a CA can expect at the beginning of career is about Rs.6 lacs. The salary for a fresh CA ranges from Rs.3.5 to Rs.9 lacs per annum.
For further details and enquiry log on to http://www.icai.org/
