CA or Chartered Accountant is a degree where an individual earns one of the key roles in a company. Chartered Accountants are regulated by the Institute of Chartered Accountants of India (ICAI). ICAI was established by the Chartered Accountants Act, 1949. Acquiring a CA degree requires intense hard work and good financial knowledge. This globally respected designation offers diverse career opportunities everywhere in the world.
The ideal subjects for CA
The ideal subjects that well suit the temperament of a successful accountant are accounting, economics, Mathematics, and English.
If you’re a Graduate and want to go for CA?
Graduation is an important degree but doesn’t hold that much weight for a Chartered Accountant. Although it is recommended to pursue a valid graduation as it helps in bagging a lucrative job in multi-national companies. A Chartered accountant aspirant can pursue graduation in B.com or Accountancy with mathematics and economics are core subjects.
Choosing the right path/stream
There are different types of the Chartered accountant. For instance, Chartered Accountant Audit, Chartered Management Accountant, Chartered Certified Accountant and Chartered Finance and Public Accountant. The fields have variable differences.
A Chartered accountant aspirant should enroll himself or herself in accounting and economics classes, as these are the core subjects that will build a solid foundation for a professional Chartered Accountant.
There are four Levels in the CA Course
- CPT (Common Proficiency Test)
- IPCC or IPCE (Integrated Professional Competence Course)
- 3 years of Articleship under a professional or practicing C.A
- CA Final Exam
The overall process of becoming a CA runs through the above-mentioned four stages. Then there is also an option where any student appearing in class 12th can register and pass(qualify) the CPT to get enrolled for the IPCC. There is also one more route, where a candidate will be exempted from the CPT and can directly go to the IPCC. The intermediate passed students of the Institute of Cost Accountants of India (ICAI) and the Institute of Company Secretaries of India (ICSI) and the graduate students can directly register for the IPCC.
But generally, students follow the CPT route.
CPT (Common Proficiency Test) and Registration for the IPCC level
As per the official website of the Institute of Chartered Accountants of India (ICAI), the candidates are required to fulfill following criteria for CA CPT:
- A student who has passed the Class 10 examination conducted by an examining body constituted by law in India (or an examination recognized by the Central Government as equivalent thereto) may register for Common Proficiency Test.
- A registered student may appear in Common Proficiency Test after he has appeared in the Senior Secondary Examination* (10+2 examination) conducted by an examining body constituted by law in India (or an examination recognized by the Central Government as equivalent thereto) and has complied with such requirements as may be specified by the Council from time to time.
- A student who has got himself registered for Common Proficiency Test 60 days prior to the first day of the month in which CPT examination is to be held i.e. on or before 1st April and 1st October, can appear in the CPT examination to be held in June and December respectively. Common Proficiency Test examinations are held in June & December every year.
IPCC – Integrated Professional Competence Course is the next stage after passing the CPT.
Note: Passing the CPT and the 12th exam is compulsory. Without which a candidate will not be liable to register for IPCC. It is recommended that the registration for the IPCC should be done in advance, before 9 months of the IPCC exam.
- IPCC level contains total 7 papers (Group 1+ Group 2)
- Group – 1 – consists of four papers
- Group – 2 – consists of three papers
- Passing the Group – 1 is necessary for commencing an Articleship
Passing group-I Exam
Candidates can appear and pass the Group – 1 or Both Groups of IPCE – Integrated Professional Competence Examination. They can appear for Group 2, after passing Group 1, in next attempt after Group 1 attempt or during the Articleship. Candidates can register for the Articleship after passing the Group 1.
Articleship is an important part of the overall process. Candidates need to register as Articled Assistant for 3 years with a practicing CA after passing either Group – 1 or both the Groups of IPCE.
Registration for the C.A Final Course
The final stage comes when a candidate passes both the groups of IPCC.
CA final exam
During the last 6 months of 3 years of articled training, you have to register and pass the CA Final. Candidates are supposed to pass the group 1 and 2 of the CA Final to complete the process successfully.
Duration of the Course
Normally takes four and a half years for the ‘CPT route’ and three years via the ‘graduation route,’ as after the graduation the candidates are exempted from the CPT route and can directly enroll for IPCC.