How to Become a CA: Step-By-Step Guide
The Chartered Accountant (CA) examination process in India, conducted by the Institute of Chartered Accountants of India (ICAI), is rigorous and structured into three main levels. Here is an overview of the CA examination process:
1. CA Foundation Course
Eligibility:
Students can enroll in the Foundation course after completing their 10+2 (Senior Secondary) examination.
Examination:
The Foundation course consists of four papers:
Principles and Practice of Accounting
Business Laws and Business Correspondence and Reporting
Business Mathematics and Logical Reasoning & Statistics
Business Economics and Business and Commercial Knowledge
The exam is conducted twice a year, in May and November.
2. CA Intermediate Course
Eligibility:
After passing the Foundation course, or if the candidate is a graduate/postgraduate (with specified marks) or has passed the Intermediate level of the Institute of Cost Accountants of India or the Institute of Company Secretaries of India, they can enroll directly into the Intermediate course.
Examination:
The Intermediate course has two groups, each consisting of four papers:
Group I:
Accounting
Corporate and Other Laws
Cost and Management Accounting
Taxation
Group II:
Advanced Accounting
Auditing and Assurance
Enterprise Information Systems & Strategic Management
Financial Management & Economics for Finance
The exams for the Intermediate course are also conducted twice a year.
Articleship:
After passing either group or both groups of the Intermediate examination, students must complete a 3-year practical training (articleship) under a practicing CA.
3. CA Final Course
Eligibility:
After completing both groups of the Intermediate course and at least 2.5 years of articleship, students are eligible to appear for the CA Final examination.
Examination:
The Final course has two groups, each consisting of four papers:
Group I:
Financial Reporting
Strategic Financial Management
Advanced Auditing and Professional Ethics
Corporate and Economic Laws
Group II:
Strategic Cost Management and Performance Evaluation
Elective Paper (one out of six options, including subjects like Risk Management, Financial Services & Capital Markets, etc.)
Direct Tax Laws and International Taxation
Indirect Tax Laws
The exams for the Final course are conducted twice a year.
Additional Requirements:
Integrated Course on Information Technology and Soft Skills (ICITSS):
Before starting articleship, students must complete this course, which covers Information Technology and Orientation programs.
Advanced Integrated Course on Information Technology and Soft Skills (AICITSS):
This course must be completed during the last two years of articleship and before appearing for the Final examination. It includes Advanced Information Technology and Management and Communication Skills.
Membership:
After passing all the exams and completing the articleship, candidates can apply for membership in ICAI to become a Chartered Accountant.
This structured process ensures that CAs are thoroughly trained in various aspects of accounting, auditing, taxation, finance, and related fields, making them well-equipped for professional practice.
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