Career as a C.A.
Introduction
A Chartered Accountant(C.A.) is a qualified professional accountant who is a member of an Institute of Chartered Accountants. Chartered accountants are qualified to audit company accounts and some hold management positions in companies.Chartered Accountants enjoy a career in the specialized areas of Accounting, Auditing, Corporate Finance, Corporate Law and Taxation.
In India, the profession of chartered accountancy is regulated by the ICAI which is the second largest body of professional accountants in the world, with more than 160,000 registered members. The ICAI is responsible for examinations and licensing of its members. In order to qualify as a CA, students are expected to pass 3 levels of examinations as well as under go 36 or 42 months of training under a practicing CA. Students may opt for industrial training in the last year of their training period. Prior to being enrolled as members the students have to attend a programme on 'General Management and Communication Skills (15 days - 3 months). Members are awarded the "CA." designation, to be placed just before their names, e.g. CA. Statutory Audit can be carried out only by Chartered Accountants holding a Certificate of Practice.
Exam Pattern
According to the new scheme of education, the Chartered Accountant course is divided into three levels. Any person who wants to become a member of ICAI has to pass the following three levels of examinations and complete three years of Articled Training under a Practicing Chartered Accountant:
The new Syllabus for CA Final course is as follows:
Group I
1. Paper 1: Financial reporting (100 Marks)
2. Paper 2: Strategic Financial management (100 Marks)
3. Paper 3: Advanced Auditing and professional Ethics (100 Marks)
4. Paper 4: Corporate and Allied Laws (100 Marks)-Section A: Company Law (70 Marks)-Section B: Allied Laws (30 Marks)
Group II
1. Paper 5:Advanced Management Accounting (100 Marks)
2. Paper 6: Information Systems Control and Audit (100 Marks)
3. Paper 7:Direct Tax Laws (100 Marks)
4. Paper 8: Indirect Tax Laws (100 Marks)-Section A: Central Excise (40 Marks)-Section B: Service Tax & VAT (40 Marks)-Section C: Customs (20 Marks)
Students are also allowed to undergo industrial training for a maximum period of 1 year in lieu of Articled Training. ICAI conducts CPT, IPCC and Final examinations in May and November each year at exam centres in major cities/regions in India and also abroad namely Abu Dhabi (U.A.E) , Dubai (U.A.E), Kathmandu (Nepal) etc. . With the introduction of the CPT in 2007, the CA course has become more popular among Indian students. It is interesting to see that Chartered Accountants teaching Chartered Accountancy students between 9.30 AM and 5.30 PM amounts to professional misconduct and proceedings in accordance with Section 21 read with 22 will be initiated against such members. ICAI has also introduced Accounting Technician Certification with the introduction of Integrated Professional Competence Course. Any person who passes Group-I of IPCC and completes one year practical training under a practicing or non-practicing member can apply for Accounting Technician Certification and designate himself as a Accounting Technician.
Introduction
A Chartered Accountant(C.A.) is a qualified professional accountant who is a member of an Institute of Chartered Accountants. Chartered accountants are qualified to audit company accounts and some hold management positions in companies.Chartered Accountants enjoy a career in the specialized areas of Accounting, Auditing, Corporate Finance, Corporate Law and Taxation.
In India, the profession of chartered accountancy is regulated by the ICAI which is the second largest body of professional accountants in the world, with more than 160,000 registered members. The ICAI is responsible for examinations and licensing of its members. In order to qualify as a CA, students are expected to pass 3 levels of examinations as well as under go 36 or 42 months of training under a practicing CA. Students may opt for industrial training in the last year of their training period. Prior to being enrolled as members the students have to attend a programme on 'General Management and Communication Skills (15 days - 3 months). Members are awarded the "CA." designation, to be placed just before their names, e.g. CA. Statutory Audit can be carried out only by Chartered Accountants holding a Certificate of Practice.
Exam Pattern
According to the new scheme of education, the Chartered Accountant course is divided into three levels. Any person who wants to become a member of ICAI has to pass the following three levels of examinations and complete three years of Articled Training under a Practicing Chartered Accountant:
The new Syllabus for CA Final course is as follows:
Group I
1. Paper 1: Financial reporting (100 Marks)
2. Paper 2: Strategic Financial management (100 Marks)
3. Paper 3: Advanced Auditing and professional Ethics (100 Marks)
4. Paper 4: Corporate and Allied Laws (100 Marks)-Section A: Company Law (70 Marks)-Section B: Allied Laws (30 Marks)
Group II
1. Paper 5:Advanced Management Accounting (100 Marks)
2. Paper 6: Information Systems Control and Audit (100 Marks)
3. Paper 7:Direct Tax Laws (100 Marks)
4. Paper 8: Indirect Tax Laws (100 Marks)-Section A: Central Excise (40 Marks)-Section B: Service Tax & VAT (40 Marks)-Section C: Customs (20 Marks)
Students are also allowed to undergo industrial training for a maximum period of 1 year in lieu of Articled Training. ICAI conducts CPT, IPCC and Final examinations in May and November each year at exam centres in major cities/regions in India and also abroad namely Abu Dhabi (U.A.E) , Dubai (U.A.E), Kathmandu (Nepal) etc. . With the introduction of the CPT in 2007, the CA course has become more popular among Indian students. It is interesting to see that Chartered Accountants teaching Chartered Accountancy students between 9.30 AM and 5.30 PM amounts to professional misconduct and proceedings in accordance with Section 21 read with 22 will be initiated against such members. ICAI has also introduced Accounting Technician Certification with the introduction of Integrated Professional Competence Course. Any person who passes Group-I of IPCC and completes one year practical training under a practicing or non-practicing member can apply for Accounting Technician Certification and designate himself as a Accounting Technician.
