Skip to main content

About Chartered Accountancy Course| Detailed Information

CHARTERED ACCOUNTANCY COURSE

what is Chartered Accountancy? 

It is a designation given to an accounting professional who has received a certification from statutory body. It is one of the respectful and challenging career fields. CA is a good career field in India. Everyone can do CA Course after 12th related to any subject. The CA exams conducted by Institute Of Chartered Accountants Of India (ICAI). ICAI is also known as the mother body of Chartered Accountant Of India. The CA course started in 1st JULY 1949. It took the 5 years to complete the CA course. By the year 2006, the ICAI has launched the three level of this challenging course. The CPT is the entity- level FOUNDATION level involves the quantitiative aptitude test, general economics, laws and accounting with written examination. This course sharps your knowledge as well as skills. You will not be jobless after becoming a CA. No unemployment faced by any person because after doing this course you gain a vast knowledge in technical, communication, auditing, accounting etc.

The study material has been prepared by the faculty of the Board of Studies. The objective of the study material is to provide teaching material to the students to enable them to obtain a vast knowledge in the subject. If students need any query to make for  improvement of the material contained herein, they may write to the Director of Studies or to the Board of studies.

All care has been taken by ICAI to provide interpretations and discussions in a manner useful for the students.

                          
                         Formation              1 July 1949
                         Legal Status           Established Under the Chartered Accountants Act (ICAI)
                                                  
                         Headquarters         ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, 
                                                         New Delhi 110002, India                                                                 
        Department/Committee           Board of Studies
                      E-mail                       bosnoida@icai.in
                       Website                    www.icai.org
                       ISBN                        978-81-8441-890-3
                        Published by           The Publication Directorate on behalf of 
                                                         The Institute of Chartered Accountants of India,
                                                        ICAI Bhawan, Post Box No. 7100
                                                         Indraprasth Marg, New Delhi - 110 002 (India)  
 
ELIGIBILITY CRITERIA OF CA    
                   
Eligibility criteria of CA candidates must have passed their 10th and 12th level qualifying examination from a recognized board of education or equivalent examination. Minimum per cent required  55%  for graduates/post graduates in commerce whereas for graduates or post graduates require a minimum of 60% to apply for CA.
The candidate who have passed the Intermediate level examination are eligible to apply for the FINAL EXAM. They must also have completed 3 years or 3 and 1/2 years or must be due to complete, as the case may be, of article training as on the date of filling the form.                  


 To become a certified Chartered Accountant you have to cross three levels.

  1. CA FOUNDATION - The entrance level exam and held twice a year
  2. CA INTERMEDIATE - The second level
  3. CA FINAL - The third and the last level
CA FOUNDATION

The 1st level is CA foundation in which ICAI conduct 4 exams.
  1. Accounts
  2. Law
  3. Economics and Business Commercial Knowledge
  4. Mathematics, Reasoning and Statistics

The cut off of CA Foundation level is 50% in aggregate and 40% per subject passing marks to clear the CA Foundation level. 

CA INTERMEDIATE

After clearing CA Foundation students have to clear 2nd level i.e Intermediate level. In Intermediate there are two groups in which there are total 8 subjects which are subdivided into many.

After this 2nd level articleship need to do is a compulsory which plays a vital role in practicle life. After learning theoritical the practicle must be important. For completing articleship 3years must be needed. 
1st Group
In 1st group there are 4 exams which are conducted by ICAI 
  1. Accounting
  2. Law (Company law And Other law)
  3. Tax (Indirect and Direct)
  4. Cost Accounting
2nd Group
In 2nd group there are 4 exams which are conducted by ICAI
  1. Advance Accounting
  2. Auditing and Assurance
  3. Enterprise Information System and Strategic Management (EIS and SM)
  4. Economics For Finance and Financial Management 

CA FINAL

After clearing CA Intermediate students have to do ARTICLESHIP for 3 years and the last level i.e. final level. In final there are two groups in which there are total 8 subjects which are subdivided into many. 

Both Groups

In both group there are 8 exams which are conducted by ICAI

  1. Financial Reporting 
  2. Strategic Financial Management
  3. Advance Auditing And Professional Ethics
  4. Corporate And Economic Laws
  5. Strategic Cost Management And Performance Evaluation
  6. Elective Subjects
  7. Direct Tax Laws And International Taxation
  8. Indirect Tax Laws
IN Intermediate and Final level the cut off is 50% in aggregate and 40% in each subject is passing criteria.

How Many CA Are Selected Every Year
 
More than 100 thousand i.e one lakh students join the chartered accountancy course every year with 45 to 50 per cent of them being girls and others.

Evolving Role of a CA - 

The role of a chartered accountant is to do accounting and accounting with fair view. Factors necessitate an increase in the competence of chartered accountants to take up the role of not merely an accountant or auditor, but a global solution provider.  the scheme of education and training is being continuously reviewed so that it is sync with the requisites of the  global business environment; the competence requirements are being continuously reviewed to chartered accountants to acquire the requisite professional competence to take on new roles.

 Requirements at All Level

At the levels, you are expected to not only acquire professional knowledge but also the ability to apply such knowledge in problem solving. Learning outcomes which you need to demonstrate after learning each topic have been detailed in the every page of each chapter/unit. Demonstration of these learning outcomes would help you to achieve the desired level of technical competence. The  learning should also help you inculcate the requisite professional skills like the intellectual skills and communication skills, necessary for achieving the desired professional competence.

 Dynamic and Interesting

The dynamic nature of the economic variables that influence decision making at various levels necessitates a comprehensive of the behavioural patterns of economic entities. Therefore of late, the tools of Economics have gained wide application in nearly all areas of business and finance. It has thus become increasingly important that our accounting and finance professionals be equipped with practical knowledge.


Comments

Post a Comment

Popular posts from this blog

Detailed Information About National Income

A Complete Information Of   National Income INTRODUCTION When we undertake the study of national economics, we are interested in macroeconomics aggregates such as, aggregate income, output, employment, prices, consumption, savings, investment etc. Just as there are accounting conventions, measure the performance of business, there are conventions for analyzing the economic performance of a nation.  National income means the net value of final  goods and services produced within the domestic territory of a country in an accounting year plus the net factor income from abroad.  The basic fundamental principle of national income is based on the following basis:                         In a nation Production=Sale=Income ∴ GDP:  The aggregate value of all the final goods and services produced in the domestic territory of the country during a period, generally a year. Domestic territory is defined to incl...
Post a Comment
Read more

Fiscal Policy - Meanings, Objectives, Types | Detailed Review

I NTRODUCTION: FISCAL POLICY The macroeconomics perspective, the focus is on the aggregate economic activity of governments, say, aggregate expenditure taxes, transfers and issues of government debts and deficits and their effects on aggregate economic variables such as aggregate output, aggregate employment, inflation, global economic growth etc. These, in case, form the subject material of fiscal policy. The connotation of fiscal policy as a strategy for achieving certain socio economic purpose was not perceived or widely acknowledged before 1930 due to the faith in the fixed role of government advocated by the then prevailing laissez-faire approach. Great Depression and the consequent instabilities made policymakers support a more proactive role for governments in the economy. However, later on, markets fail to achieve optimal outcomes and the need for government intervention to combat those market failures. In latest times, especially after being portended by the global financial c...
Post a Comment
Read more

Control Of Money Supply | Important Terms - CRR, SLR, RR, BR, RRR, Open Market Operations

Control Of Money Supply By The Central Bank                             The central bank of the country adopts various measures to handle or control the supply of money in the economy. Largely, these measures relate to credit supply of the commercial banks. These are broadly classified as: Quantitative Instruments, and Qualitative Instruments. (A) Quantitative Instruments Of Credit Control Qualitative Instruments are those instruments of credit control which focus on the overall supply of money in the economy. Supply of money is lowered to tackle inflation, and it is raised to tackle deflation. Following are the points which are used in quantitative instruments of credit control in the economy:- Bank Rate: Bank rate refers to the rate of interest at which the central bank lends money to the commercial banks. It relates to instant (immediate) loan requirement of the commercial banks. When bank rate is increased, marke...
2 comments
Read more