CA popularly known as Chartered Accountant, is one of the respectful and challenging career fields. Chartered Accountancy was established in 1854 in Britain.
The ICAI Exam also known as the CA exam is conducted by the Institute of Chartered Accountants of India (ICAI) for the candidate willing to become Chartered Accountants in India. The exam is conducted at different levels.
Table of Contents
CA: Level of Exam
The Chartered Accountant course consists of three levels of examinations.
- CA Foundation course or Common Proficiency Test (CPT)
- CA Intermediate Examination or Integrated Professional Competence Course (IPCC)
- CA Final Examination
Note: CA CPT is now replaced by CA Foundation Course.
Candidates willing to pursue a Chartered Accountant course after class 12th can do it through the CA Foundation course route. Those candidates willing to pursue Chartered Accountants after graduation can do it directly by registering in CA Intermediate or IPCC course.
Candidates who are not graduate but have cleared the intermediate level examination by the Institute of Cost Accountants of India or by the Institute of Company Secretaries of India can directly register for the Chartered Accountant intermediate course.
Foundation course is scheduled in the month of June and December while the Intermediate course is scheduled in the month of May and November.
CA Exam: Highlights
|
Exam Highlight |
Details |
| Exam Name | ICAI Exam, CA CPT, CA IPCC, CA Final |
| Exam Conducting body | Institute of Chartered Accountants of India |
| Exam Level | National |
| Exam Frequency | Twice a year |
| Exam Mode | Online |
| Exam Duration | 2 hours |
| Exam Medium | English |
| Exam Purpose | Training Chartered Accountants in India |
| Courses Offered | Chartered Accountants |
| Official Website | https://icaiexam.icai.org/index.php |
The CA CPT or Foundation course is an entry-level course comprising of quantitative aptitude test, general economics, mercantile laws, and accounting.
The CA IPCC or the Intermediate has two groups, covering the knowledge of the core subjects. It is designed to improve the knowledge of accounting standards.
The CA Final constitutes the advanced knowledge of financial reporting, management accountant, strategic financial management, information systems control, professional ethics, and advanced auditing.
After completing the 1st group the students go through on-job training for a period of 3 years called the “Articleship” with an audit or accounts firm. Students can appear for the final course after completing the articleship.
ICAI Exam: Eligibility
|
Course |
Eligibility |
| CA Foundation Course (Previously called CA CPT) | Candidates should have passed 12th or equivalent from a recognized board or its equivalent. |
| Candidates must have registered for the CA Foundation course with the Board of Studies (Bos) before the last date of registration or converted to a Foundation course with the Board of Studies of ICAI. | |
| CA Intermediate or IPCC (Previously called ad PCC) | Candidates must have passed CA Foundation or equivalent examination. |
| Candidates who have registered for the previous Examination in the Professional Education course-2 or Professional Competence Course and converted into the intermediate (IPCC) or Accounting Technician Course (ATC) | |
| Candidates who have completed graduation or post-graduation in any stream from a recognized University or its equivalent | |
| CA Final Course | Candidates who have passed Intermediate examination or Professional Education Examination -II /PCC/IPCC are eligible to apply for the Final Exam |
| Candidate must have completed 3 or 3.5 years or must be due to complete the article training as on the date of filling the form. | |
| For the PCC stream students, the candidate must be serving for the last six months of the article training and due to complete 3.5 years on or before the examination | |
| For the Intermediate IPCC students, the candidate must be serving for the last six months of the article training and due to complete 3 years on or before the examination | |
| For students converted from PE-II to PCC as well as students converted from PE-II to PCC and then to IPCC, the candidate must be serving for the last 12 months of article training and due to complete 3.5 years of the article on or before the examination |
Note: After clearing the CA Final exam the candidate should go enrolment as a member of ICAI.
CA: Advantages And Disadvantages
|
Advantages |
Disadvantages |
| Highly paying job | At times it is quite stressful as the job demands huge responsibilities and there is no scope for errors |
| Command good respect in the organization and society | Regular up-gradation of the knowledge or else there can be stagnation n the career |
CA: Career Options
CA can get the opportunities to work in the following :
- Banks -Private and Public both.
- Public Limited Companies – Mainly for the purpose of the law
- Auditing Firm- KPMG, Price Waterhouse
- Stock Broking Firms, Finance companies, Portfolio Management Companies, Mutual Funds, Investment Houses, etc.
- Copyright Registers, Legal firms, Patent Firms, Legal Houses, Trademark and Attorneys.
Apart from the above mentioned, CA can go for the following with a certificate of practice :
- Practice CA
- Taxation
- International Taxation consultancy like for companies involving foreign parties.
- GST/Customs consultancy
- Management Consultancy Services
- Project Financing
- Mergers Acquisition
- Valuation
- Preparing consolidated financial statements for companies
- Auditing
- Statutory audit of Companies
- Internal /management audit of companies
- Cooperative audits
- Forensic audits
- Becoming a partner of big audit /consultancy firms
- Pursue Government /Civil Services
- Become an entrepreneur
- Investment Banker
There are some courses that one can pursue after becoming a Chartered Accountant (CA)
- DISA – Diploma in Information System Audit
- CISA – Certified Information System Auditor
- CIA – Certified Internal Auditor
- CFA – Chartered Financial Analyst
CA Foundation Course
This is the new entrance level examination for the Chartered Accountancy course in India. Previously it was known as Common Proficiency Test (CPT).
CA Foundation is an entry-level exam for students interested to pursue a career in Chartered Accountancy. This is a national-level exam conducted in the month of June & November.
In line with the Chartered Accountant Regulations 1988, the Institute of Chartered Accountants of India (ICAI) conducts and administers the CA Foundation course. The exam is conducted twice a year.
Highlights of CA Foundation Course:
| Highlights | Details |
| Exam Name | CA Foundation ( Earlier known as CA CPT) |
| Exam Conducting Body | The Institute of Chartered Accountants of India (ICAI) |
| Exam Level | National |
| Exam Frequency | Twice a year (May & November) |
| Exam Mode | Offline |
| Exam Medium | English |
| Exam Category | Undergraduate |
| Exam Duration | 4 hours |
| Number of Papers | 4 |
| Official Website | http://icai.org/ |
CA Foundation Course: Important Month
| Events | Tentative Month |
| CA Foundation Application Process | February |
| CA Foundation Admit Card | July |
| CA Foundation Exam | August |
| CA Foundation Result | To be announced |
Eligibility Criteria
Age: There is no age limit.
Educational Qualification: Candidate should have passed 12th or equivalent from a recognized board or its equivalent.
Exemptions: CA Foundation Course is exempted for Graduates, postgraduates, and its equivalent degree. Commerce graduate with a minimum of 55% and other graduates with a minimum of 60% marks can directly take admission in CA Intermediate.
CA Foundation Course: Exam Pattern
| Paper | Sections | Total Marks | Negative Mark |
| Paper 1 | Principles and Practice of Accounting | 100 | NA |
| Paper 2 | Business Law | 60 | NA |
| Business Correspondence | 40 | ||
| Paper 3 | Business Mathematics | 40 | 0.25 marks deducted |
| Logical Reasoning | 20 | ||
| Statistics | 40 | ||
| Paper 4 | Business Economics | 60 | 0.25 marks deducted |
| Business and Commercial Knowledge | 40 | ||
| Total | 400 |
CA Intermediate Course
This is the new second-level examination for the Chartered Accountancy course in India. Previously it was known as CA IPC. This course is divided into 2 groups i.e. Group 1 and Group 2 each group having 4 papers each. During CA Intermediate the candidate can register for 3 years of articleship or practical training.
CA Intermediate Highlights
| Highlights | Details |
| Exam Name | CA Intermediate Level |
| Exam Conducting Body | The Institute of Chartered Accountants of India (ICAI) |
| Exam Level | National |
| Exam Frequency | Twice a year |
| Exam Category | Professional |
| Exam Format | Objective and Descriptive |
| Exam Mode | Offline |
| Exam Medium | English & Hindi |
| Number of Papers | 8 |
| Exam Duration | 3 hours per paper |
| Official Website | http://icai.org/ |
CA Intermediate course: Important Month
| Events | Tentative Month |
| CA Intermediate Application Process | Throughout the year for eligible candidate |
| CA Intermediate Admit Card | July |
| CA Intermediate Exam | Group 1- July
Group 2- August |
| CA Intermediate Result | To be announced |
Eligibility Criteria
Age: There is no age limit
Educational Qualification:
- Candidates must have passed CA Foundation or equivalent examination.
- Candidates who have registered for the previous Examination in the Professional Education course-2 or Professional Competence Course and converted into the intermediate (IPCC) or Accounting Technician Course (ATC)
- Candidates who have completed graduation or post-graduation in any stream from a recognized University or its equivalent
- Candidates appearing for the final year can also apply for the exam
- Graduates, postgraduates, and equivalent degree holders can apply directly for Intermediate courses. Commerce graduate with a minimum of 55% and other graduates with a minimum of 60% marks can directly take admission in CA Intermediate.
Note: Candidate after clearing either of the one groups can commence the articleship training for 3 years under a practicing Chartered Accountant. The same candidate can only be eligible for CA Final exam after completing 2.5 years of articleship.
CA Intermediate or IPCC Exam Pattern
| Exam Pattern | Details |
| Exam Mode | Offline |
| Exam Medium | English & Hindi |
| Exam Duration | 3 hours |
| Exam Format | Objective and Subjective |
| Number of Groups | 2 Groups |
| Number of Papers | 8 |
| Marking Scheme | 100 marks each paper |
Subject-WiseExam Pattern
| Group 1 | ||
| Paper | Sections | Total Marks |
| Paper 1 | Accounting | 100 |
| Paper 2 | Corporate /Company Laws | 60 |
| Other Laws | 40 | |
| Paper 3 | Cost and Management Accounting | 100 |
| Paper 4 | Taxation- Income Tax -Tax Law | 60 |
| Taxation- Indirect Taxes | 40 | |
| Group 2 | ||
| Paper 5 | Advanced Accounting | 100 |
| Paper 6 | Auditing and Assurance | 100 |
| Paper 7 | Enterprise Information Systems | 50 |
| Strategic Management | 50 | |
| Paper 8 | Financial Management | 60 |
| Economics of Finance | 40 | |
| Total | 800 | |
CA Intermediate Passing Criteria:
The candidate needs to score a minimum of 40% marks on each paper and a minimum of 50% marks in aggregate.
CA Intermediate Marking Scheme:
| Subjects | Theoretical | Practical |
| Accounting | 5%-15% | 85%-95% |
| Corporate/Company Law | 40%-50% | 45%-60% |
| Other Laws | 35%-55% | 45%-65% |
| Cost and Management Accounting | 20%-30% | 70%-80% |
| Income Tax Law | 5%-20% | 80%-95% |
| Indirect Taxes | 20%-45% | 55%-60% |
| Advance Accounting | 5%-15% | 85%-95% |
| Auditing and Assurance | 30%-55% | 45%-70% |
| Enterprise Information Systems | 40%-65% | 35%-65% |
| Strategic Management | 50%-70% | 30%-50% |
| Financial Management | 20%-30% | 70%-80% |
| Economics of Finance | 60%-80% | 20%-40% |
CA: Exam Centers Outside India
The Following are the exam centers outside India
- Muscat
- Kathmandu
- Dubai
- Doha
- Abu Dhabi
CA Final
This is the third and final level of examination for Chartered Accountant (CA) conducted by ICAI. The CA Final course comprises theoretical examinations, practical training as mandatory practical training, and communication skills training.
CA Final Exam Highlights
| Highlights | Details |
| Exam Name | CA Final Exam |
| Exam Conducting Body | The Institute of Chartered Accountants of India (ICAI) |
| Exam Level | National |
| Exam Frequency | Twice a year |
| Exam Category | Professional |
| Exam Format | Objective and Descriptive |
| Exam Mode | Offline |
| Exam Medium | English & Hindi |
| Number of Papers | 8 |
| Exam Duration | 3 hours per paper |
| Official Website | http://icai.org/ |
CA Final course: Important Month
| Events | Tentative Month |
| CA Final Application Process | Throughout the year for eligible candidate |
| CA Final Admit Card | July |
| CA Final Exam | Group 1- July
Group 2- August |
| CA Final Result | To be announced |
Eligibility Criteria
Age: There is no age limit
Educational Qualification:
- Candidates should have registered with the Board of Studies (BoS).
- Candidates should have cleared the CA Intermediate or IPCC exam with minimum marks.
- Candidates must have completed the articleship training for 2.5 years.
- Candidates should have completed the 4 weeks of Advanced Integrated Course on Information Technology and Soft Skills (AICITSS)
Note: CA Final Exam Registration is valid for 5 years.
CA Final: Exam Pattern
| Exam Pattern | Details |
| Exam Mode | Offline |
| Exam Medium | English & Hindi |
| Exam Duration | 3 hours |
| Exam Format | Objective and Subjective |
| Number of Groups | 2 Groups |
| Number of Papers | 8 |
| Marking Scheme | 100 marks each paper |
CA Final Exam: Subject wise
| Group | Paper | Subjects | Marks |
| Group 1 | Paper 1 | Financial Reporting | 100 |
| Paper 2 | Strategic Financial Management | 100 | |
| Paper 3 | Advanced Auditing and Professional Ethics | 100 | |
| Paper 4 | Corporate and Allied Laws
Section A: Company Law |
70 | |
| Section B: Allied Laws | 30 | ||
| Group 2 | Paper 1 | Advanced Management Accounting | 100 |
| Paper 2 | Information Systems Control and Audit | 100 | |
| Paper 3 | Direct Taxes | 100 | |
| Paper 4 | Indirect Taxes
Section A: Central Excise |
25 | |
| Section B: Service Excise | 50 | ||
| Section C: Customs and Foreign Trade Policy | 25 |
Enrollment: After clearing both the groups of the final exam and on completion of Articleship and second GMCS, the candidate should enroll as a member of the ICAI and be designated as “Chartered Accountant”.
CA: Exam Centers outside India
The Following are the exam centers outside India
- Muscat
- Kathmandu
- Dubai
- Doha
- Abu Dhabi
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