How to Become Chartered Accountant?
Chart Your Course to Becoming a Chartered Accountant and Open Doors to Exciting Career Opportunities
In this Career Outline
Introduction to Chartered Accountant
"A good accountant is a valuable asset to any business. A great Chartered Accountant is the backbone of the financial world."
Becoming a Chartered Accountant (CA) is a dream for many students passionate about numbers and finance. This esteemed profession offers a wealth of opportunities and a promising career path. This blog will walk you through the journey of becoming a CA, from the required qualifications to the diverse career opportunities you can pursue. Whether you're just starting after 10th grade or looking for a career change, this guide has got you covered.
Steps to Become a Chartered Accountant:
Step-1
After finishing the 10th grade, students can enroll in the Foundation Course. This course covers basic concepts in accounting, economics, and law and is the first step toward becoming a CA.
Step-2
To progress to the next level, students must pass the Foundation Exam, which tests their knowledge of the subjects covered in the Foundation Course.
Step-3
After passing the Foundation Exam, students can enroll in the Intermediate Course. This course is divided into two groups, each covering more advanced topics in accounting, auditing, and taxation.
Step-4
Before starting Articleship, students must complete ICITSS, which includes training in information technology and soft skills essential for the profession.
Step-5
Articleship is a mandatory three-year practical training under a practicing Chartered Accountant.
Step-6
Upon completing the Intermediate Course and a specified period of Articleship, students can register for the Final Course.
Step-7
The Final Exam is the last hurdle in the CA journey. Upon passing, they can apply for membership with the Institute of Chartered Accountants of India (ICAI).
Eligibility Criteria
| Eligibility Criteria | Description |
|---|---|
| Eligibility | Must possess at least 50% aggregate in 12th grade from a recognized institution |
| Educational Background | Students can enroll in the Foundation Course after completing the 10th grade |
| Undergraduate Degree | Not required, but pursuing a degree in commerce or a related field can be beneficial |
| Postgraduate Degree | Not mandatory, but specialization in finance, accounting, or business can enhance career prospects. |
| Entrance Exams | Students can register for the CPT (Common Proficiency Test) exam after completing 10th grade and are eligible to take it after graduating 12th grade. After passing the CPT, they can proceed to the IPCC (Integrated Professional Competence Course) and, subsequently, the Final CA examination. |
- Must have at least 50% aggregate in 12th grade from a recognized board (PUC/CBSE/ICSE/ISC, etc.). The cut-off varies by college.
- Students can register for the CPT (Common Proficiency Test) after the 10th grade but can only take it after completing the 12th grade. Any educational background is acceptable.
- After meeting the required marks, students can apply for the IPCC (Integrated Professional Competence Course). Clearing IPCC allows them to start an Articleship under a certified CA.
- In the last six months of their articleship, students can take the final CA exam, which they must pass to qualify as a Chartered Accountant.
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Tasks to perform as a Chartered Accountant:
Knowledge & Skills Required
Chartered Accountants (CA) require a diverse range of skills to excel in their positions. Here are the key knowledge areas and skills needed to excel in this field:
| Knowledge Required | |
|---|---|
| Understanding fundamental accounting concepts, standards, and principles. | Knowledge of direct and indirect taxes, including tax laws and regulations. |
| Expertise in auditing practices, standards, and procedures. | Ability to prepare and analyze financial statements in compliance with legal requirements. |
| Knowledge of company law, corporate governance, and compliance regulations is essential. | Proficiency in cost accounting techniques and their application in business. |
| Skills Required | |
|---|---|
| Attention to Detail | Analytical Skills |
| Communication Skills | Problem-Solving Skills |
| Time Management | Technical Proficiency |
| Organizational Skills | Adaptability |
Understanding What are soft skills? and why is it important,as they complement technical abilities and enhance overall performance in the field of Chartered Accountant.
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Job roles offered for a Chartered Accountant:
Once you procure the required qualifications for becoming a Chartered Accountant, a myriad of options is open to you. There are multiple projects you can undertake throughout this line of work, and there are many other fields you can branch out to as well.
Specializes in managing tax obligations and advising clients on tax planning to ensure compliance and minimize tax liabilities.
Examines financial statements for accuracy, ensures adherence to regulations, and provides a high level of assurance on the integrity of financial reports.
Oversees cost estimation and management in construction and development projects, including feasibility studies and budgeting.
Responsible for preparing and reporting financial statements, analyzing financial data, and ensuring compliance with accounting standards.
Tracks and analyzes budgetary performance, creates financial projections, and advises on investment and cost management strategies.
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Career Opportunities for a Chartered Accountant:
Chartered Accountant can opt for various fields of work in the companies listed below:
| Infosys Limited | Chaitanya India Fin Credit | Terralogic Vietnam |
| Juniper Networks | Apple | HP |
| Support.com India Private Limited | Hewlett Packard Enterprise | Oracle |
| Zebra Technologies |
Colleges offering courses for Chartered Accountant:
Here is the list of colleges offering the Best courses after 12th:
| National Institute of Management, Mumbai | Indian School of Business Management and Administration, Kochi |
| Indian School of Business Management and Administration, Gwalior | Shri Chimanbhai Patel Institute of Professional Training, Ahmedabad |
| St. Alphonsa College of Hotel Management Studies, Kozhikode | Vidyabharathi Group of Institutions, Cochin |
| Times And Trends Academy, Pune | Gokaran Narvadeshwar Institute of Technology & Management, Lucknow |
| Sree Pashmi Institute of Management and Sciences, Coimbatore | Sreedhar Institute of Professional Education, Kerala |
End Note
Becoming a Chartered Accountant is a rewarding journey that offers endless possibilities. Whether you're looking to join a top firm or start your own practice, the path to becoming a CA is filled with learning and growth. SetMyCareer is here for Career counselling after graduation to guide you along your career goals. Connect with our experts today and take the first step towards a successful career as a Chartered Accountant!
In this Career Outline
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