CA : Exclusive Free Overview of Chartered Accountant for 2022

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.

 

CA: Level of Exam

 

The Chartered Accountant course consists of three levels of examinations.

  1. CA Foundation course or Common Proficiency Test (CPT)
  2. CA Intermediate Examination or Integrated Professional Competence Course (IPCC)
  3. 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.

 

ca eligibility

 

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 :

  1. Practice CA
  2. Taxation
  • International Taxation consultancy like for companies involving foreign parties.
  • GST/Customs consultancy
  1. Management Consultancy Services
  • Project Financing
  • Mergers Acquisition
  • Valuation
  • Preparing consolidated financial statements for companies
  1. Auditing
  • Statutory audit of Companies
  • Internal /management audit of companies
  • Cooperative audits
  • Forensic audits
  1. Becoming a partner of big audit /consultancy firms
  2. Pursue Government /Civil Services
  3. Become an entrepreneur
  4. 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

  1. Muscat
  2. Kathmandu
  3. Dubai
  4. Doha
  5. 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

  1. Muscat
  2. Kathmandu
  3. Dubai
  4. Doha
  5. Abu Dhabi

 

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