Chartered accountants are of high demand in wide range of industries may it a private or public sector. It is of course a prestigious career. The passion towards accounting/finance will enable the concerned person to become a CA.
Do you have the desire to become a Chartered Accountant?
Choosing commerce group preferably with accounts and business mathematics in higher secondary is the first step to start with.
There are four levels for CA:-
1) CA Common Proficiency Test (CPT) (i.e) CA Foundation (Newly changed from 2016)
2) Integrated Professional Competence Course (IPCC)/IPCE (Intermediate)
3) Three years Article ship/ Training under a practicing C.A
4) C. A. Final
According to the new syllabus framed:-
The changes will be implemented either by November 2016 or May 2017. Till that old syllabus will prevail.
You are eligible to appear for foundation once you complete your 12th standard. This will have subjective questions for 200 marks and objective questions for 200 marks. The subjects covered under the news syllabus are principles & practices of accounting, business mathematics & logical reasoning and statistics, mercantile law & general English, business economics and business & commercial knowledge. In previous syllabus the subjects are fundamentals of accounting, economics, quantitative aptitude and mercantile law.
Once you clear the test, you can apply for IPCC (Intermediate). The subjects covered are Group 1 - accounting, company laws and other laws,cost accounting, direct tax laws and indirect tax laws, advanced accounting, and auditing & assurance and Group 2 - financial management and business economic environment. The course duration for IPCC is now 12 months. In previous syllabus cost accounting & financial management is one paper and information technology & strategic management paper was there.
After completing IPCC you have undergo a orientation and Information Technology Training (ITT) before registering for article ship. Then carry out article ship which is a practical training for three years under a Chartered accountant. You can do article ship by only passing group 1 exams of IPCC also.
The last stage is the final CA exam that covers financial reporting, strategic financial management, advanced auditing and professional ethics, corporate laws and other economic laws, advanced management accounting, financial services & capital, markets and information systems control & audit, advanced tax laws & international taxation, advanced indirect tax laws. You can appear in this exam only if you have cleared all the exams.
Once you complete this, you will be a Chartered accountant.