Chartered Accountancy is a course which requires persons to be very much industrious and intelligent by nature. In order to take up this course and get through it successfully, it requires pure dedication and hard work. All the countries in the world have established their own Accountancy Association as to regulate the value and the number of accountancy professionals. In India this authority is properly looked over by the Institute of Chartered Accountants of India, ICAI. The institution was established under the Chartered Accountancy Act of 1949.

The Chartered Accountancy course is properly designed with a judicious mix of theoretical education and practical training.  The students who are taking up the course are expected to go through a two and a half years of practical training. They will also have to do 15 days course on General management and Communication skills.

The candidates have to register with the Institute of Chartered Accountants of India in order to appear for the examination. The bare minimum time allocated for each of there different level is 10 month. Exams are carried out twice a year.

CA course is of two years. This period is excluded from the training period. The CA course is divided in to three sections. This includes:-

• Competency Professional Test (CPT) that was earlier known as Professional Education exam PE
• Professional Competency Examination (PCE)
• Final examination

The candidates can register for the Competency Professional Test and the Professional Competency Examination throughout the year. They can appear for the exam two times a year in May and November. The institution has made it compulsory that the students register with the Institution at least ten months before the examinations.

Eligibility Criteria for CA

As there are three different stages the eligibility for each of these stages are quite different. If a candidate wishes to join for the Competency Professional Test, he/she should have passed 10+2 exam. If a candidate is having a graduation then they are provided an exception from the Competency Professional Test. But those who don’t have the required percentage of marks will have to appear in the Competency Professional Test.

For the Professional Competency course, PE-2 the candidate will have to pass either the PE-1 or Foundation course.

Students can only join the Final course if they have passed both the PE-1 and PE-2 exam. The students are obliged to complete a practical training of 2 and half years.

Admission Procedure for CA

• An eligible candidate can apply for the CA course any time in a year, and appear for the exam twice a year in May and November.
• Eligible candidates can submit their application form with a crossed DD carrying the required amount in favor of Secretary, The Institute of Chartered Accounts of India.

Entrance exam for CA

Competency Professional Test is considered as the entrance exam for the Chartered accountants. This exam was previously known as Professional Education exam PE. This exam is carried out by the institution once in a quarter. This is a 4 hour long exam. There will be questions asked for 400 marks. It consists of 4 subjects. Like:-

• Fundamentals of Accounting
• Mercantile Law
• General Economics
• Quantitative Attitudes

Minus mark is also pertinent in the examination.

Top CA Institutions in India

• A.V.S. College of Arts & Science, (Tamil Nadu)
• Aggarwal P.G. College, (Haryana)
• Ahmednagar Jilha Maratha Vidya Prasarak Samaj’s New Arts, Commerce & Science College, (Maharashtra)
• Asansol Branch of Eastern India Regional Council of the I.C.A.I., (West Bengal)
• Aurora’s Degree College, (Andhra Pradesh)
• B.N. Saha D.A.V. Public School, (Jharkhand)
• Bal Bhavan Public Senior Secondary School, (Delhi)
• Bhanuvijayji Universal Foundation’s Divine Child School, (Gujarat)
• Bharata Mata College, (Kerala)
• Bhavan’s Vivekananda College of Science, (Andhra Pradesh)
• C.B. Bhandari Jain College, (Karnataka)
• Canara College, (Karnataka)
• Chikitsak Samuha’s S.S. & L.S. Patkar College of Arts &Science and V.P. Varde College of Commerce & Economics, (Maharashtra)
• Chinmaya Vidyalaya , (Kerala)
• Coimbatore Branch of S.I.R.C. of I.C.A.I., (Tamil Nadu)
• College of Professional Education, (Uttar Pradesh)
• Cuttack Branch of EIRC of ICAI, (Orissa)
• D.A.V. College, (Chandigarh)
• Deccan Education Society’s , (Maharashtra)
• Delhi Branch of NIRC of ICAI, (Delhi)
• Deshbhakt Ratnappa Kumbhar College of Commerce, (Maharashtra)
• Eastern India Regional Council of ICAI, (West Bengal)
• Farook College, (Kerala)
• G.S. College of Commerce & Economics, (Madhya Pradesh)
• Gargi College, (Delhi)
• Goswami Ganesh Dutta Sanatan Dharam College, (Chandigarh)
• H.A. College of Commerce, (Gujarat)
• Howrah Akshaya Sikshayatan, (West Bengal)
• Hyderabad Branch of the SIRC of I.C.A.I., (Andhra Pradesh)
• Institute of Professional Studies & Research, (Orissa)
• Jagannath International Management School, (Delhi)
• Jaipur Branch of C.I.R.C of the I.C.A.I, (Rajasthan)
• Jamshedpur Branch of C.I.R.C. of the ICAI, (Jharkhand)
• K.S. Rangasamy College of Arts & Science, (Tamil Nadu)
• Karnataka Pre-University College, (Karnataka)
• Kottayam Brnch of the S.I.R.C. of I.CA.I., (Kerala)
• Kumararani Meena Muthiah College of Arts & Science, (Tamil Nadu)
• Laxman Public School, (Delhi)
• Loyola College, (Tamil Nadu)
• Lucknow Branch of C.IR.C. of theICAI, (Uttar Pradesh)
• Mahavir Institute of Educational Training and Management, (Delhi)
• Mangalore Branch of SIRC of ICAI, (Karnataka)
• Mar Ivanious College, (Kerala)
• Mercy College Palakkad , (Kerala)
• Modern Education Society’s College of Commerce, (Karnataka)
• Mount Abu Sr.Sec.School, (Delhi)
• Mumbai Branch of W.I.R.C of I.C.A.I, (Maharashtra)
• Mysore Branch of SIRC of I.C.A.I., (Karnataka)
• Oshwal Education Trust’s Shri G.H. Gosrani & Shri D.D. Nagda BBA College, (Gujarat)

CA course curriculum

CA program is of 2 years and have three sections.

• Competency Professional Test (CPT)
• Professional Competency Course (PCC)
• Final Course

Subjects for Professional course I

• Paper 1- Fundamentals of Accounting
• Paper 2 - Mathematics & Statistics
• Paper 3 -  Economics
• Paper 4 - Business Communication and Organization and Management

Professional Competency Course (PCC)

After successfully passing the CPT or graduation, the students can go for the Professional Competency Course (PCC). Subjects for Professional Competency Course (PCC) are as follows:-

The PCC has two groups. In that each consist of three papers of 100 marks.

Group I

• Paper 1 -  Accounting
• Paper 2 - Auditing
• Paper 3 - Business and Corporate  Laws

Group II

• Paper 4 - Cost Accounting and Financial Management
• Paper 5 - Income Tax & Central Sales Tax
• Paper 6 - Information Technology

Final Course

The final course will also have related papers to PCC examination. It also has two groups having four papers each. Subjects for Final Course includes:-

Group I

• Paper 1 - Advanced Accounting
• Paper 2 - Management Accounting & Financial Analysis
• Paper 3 - Advanced Auditing
• Paper 4 - Corporate Laws & Secretarial Practice

Group II

• Paper 5 - Cost Management
• Paper 6 - Management Information and Control Systems
• Paper 7 - Direct Taxes
• Paper 8 - Indirect Taxes

Further Academic Pursuits after CA

The CA course is well a recognized course and is considered the same to PG qualification in commerce by various universities and government bodies.

The students who have a Bachelor Degree along with a CA professional course are eligible for registration as M. Phil and Ph. D in commerce and allied disciplines.

Post Qualification Courses Conducted by Institutes

In India there are many institutions which provide post certification courses to those students who have completed a CA professional course. These are courses which facilitate one to get specializations in areas connected to the profession.

Some of the post qualification Conducted by ICAI

• Computerized Accounting and Auditing Techniques — CAAT
• Corporate Management — CM
• Diploma in Insurance and Risk management — DIRM
• Information Systems Audit — ISA
• International Trade Laws and World Trade Organization — ITL&WTO
• Management Accountancy — MAC
• Tax Management — TM

What to do After CA?

There is no shortage of jobs for Chartered Accountants. In India as well as abroad there is huge demand for skilled professionals of CA. Students who have completed the CA program can opt for public practice. They can also join any of the public sector or private sector organization. The Career option available for a CA is therefore wide-ranging. They can work in areas like:

• General Practice
• New Assurance And Performance Measurement Services
• Change Management
• Stakeholder Value Creation
• Strategic Management
• Financial Administration
• Capital Markets
• Financial Regulation
• Financial Reporting
• Tax Compliance
• Tax Advice and Planning
• Corporate Finance
• Insolvency and Corporate Recovery
• Management Consultancy

Job and Career options for CA

A capable professional can put together ones own private practice as a practicing chartered accountant. Chartered Accountants can find jobs with firms like accounting, Income –Tax department, auditing, cost management etc. Government service is also a possible area of employment.

Remuneration after CA

Chartered Accountant is considered to be one of the most well paid professionals,which ever sector they are associated to, be it Government Service, private firms or own consultancy. There are also multi-national companies which offer candidates lucrative pay packages along with numerous perks. A person who has completed all the three levels can earn a salary ranging from Rs. 25,000/- per month. With relevant experience candidates can earn a monthly salary of Rs. 50,000 in India and more than Rs. 5, 00000 in abroad. This package will depend up on the type of company they are working with. Pay packages and perks will also depend up on the personnel involvement, dedication, hard work and loyalty to the job.