All About CA

All About Chartered Accountant: Eligibility Criteria, Subjects, How To Apply

Just like IAS, IPS, JEE. CA exam is India’s most competitive and challenging exam. Every year thousands and thousands of students fill up the CA Exam Form & try their luck as well as hard work. I mean, luck can do all thing.

According to a report, more than 35,000 students appear for the May attempt, and almost the same amount of students appear for November’s attempt.

That means every year, more than 70,000 appears for the chartered accountant examination. Before answering all the questions like How to apply, Eligibility Criteria, How to become CA In India, Preparation tips, etc. Let’s see some history of a Chartered Accountant.

In 1854, the first accountant that formed a professional accounting body was CA or Chartered Accountant, which was established in Scotland.

When the Glasgow Institute of Accountants and Actuaries, The Edinburgh Society of Accountants, and the Aberdeen Society of Accountants was inception a royal charter was given to each.

The CA or Chartered Accountant title is a professional designation that is recognized internationally. If you talk about some equivalent designation, then a certified public accountant is equal to CA.

Before 1919, women were restricted to become a CA. But in 1919, the Sex Disqualification act was removed. After removing the Sex Disqualification act, the first woman who became a Chartered Accountant in the world was Mary Harris Smith.

There is not only one particular field for a chartered accountant. There are multiple fields for which a chartered accountant works. The fields include business and finance, general management, public practice work, financial, taxation, etc.

So if you want to become an upcoming CA or Chartered Accountant, then stick to this article. Cause in today’s article, we will discuss almost everything on how to become a CA, all about the CA exam, Eligibility Criteria, etc.

What is CA?

The full form of C.A. is Chartered Accountant. It is a professional designation that is recognized internationally except for the USA. In the United States of America, CA is basically known as a CPA or Certified Public Accountant.

Now you may be thinking, is there any difference between both. The answer is no. They both perform the same level of tasks in the field of finance. They both expect the same salary and have the same job opportunities.

All you can say in one line is, if you are living outside of the United States of America, then you will use the word Chartered Accountant, and if you live in the USA, then you use the work CPA or Certified Public Accountant.

Eligibility Criteria

Not every person can become a CA. There are some specific eligibility criteria for that. Below I have described all those eligibility criteria. Just have a look:-  

  • A candidate who is willing to apply for CA must have completed their 10+2 or 12th with at least 35% of marks.
  • Candidates must have cleared their 12th with any stream. If commerce, then it is much better.
  • After completing your 12th class, now you have to qualify in a CPT or Common Proficiency Test.
  • Once you cleared your CPT, now you have to clear IPCC.
  • Then you have to do an article-ship or training under a certified CA for 3 years.
  •  Then the final stage comes, which is the CA finals.

How to Apply

  • Visit the official ICAI website by clicking here and then create a login ID through OT or One Time registration.
  • You’ll receive a username and password on the email you used for registration.
  • Now you enter this username and password to access your application form.
  • Fill up all details given in the application form. Fill in details carefully. Otherwise, your form can be rejected.
  • Make a payment through Debit/Visa/Master card.
  • Once you see the successful message, print out the filled form.
  • After getting the print out attach two passport size photos. One should be attested, and the second one should be non-attested.
  • Somehow if your signature didn’t appear on the print. Sign at the bottom of the paper. Take the sign of your guardians if needed.
  • At last, get attested to your application form by a certified chartered accountant or principal of your college/school.

How To Become CA In India?

Becoming a chartered accountant is a four steps process that includes CA foundation ( CPT or Common Proficiency Test ), CA Intermediate ( IPCC or Integrated Professional Competence Course ), Articleship or Training, FC ( Final Course).

Now there are two routes that students choose in order to become a CA. The first one is the foundation course route for students who want to become CA after 12th class. The second one is the direct entry route for students who want to be a CA after completing their UG or PG. Below I have mentioned steps for both routes, have a look:-

Foundation Course Route

  1. Once you complete your 12th class, enroll in the CA Foundation examination ( CPT ). 
  2. Appear for the exam after completing the 4 months study period.
  3. After clearing the CPT or CA Foundation exam, go for the next step, CA Intermediate or IPCC.
  4. Next complete ICITSS or Integrated Course on Information Technology and Soft skills, which is a 4 weeks course.
  5. Appear for the IPCC or CA Intermediate exam after completing 8 months study course. 
  6. You’ll face 2 groups in the IPCC and have to clear one to go to the next step, Articleship.
  7. Train yourself for 3 years under a certified CA.
  8. During the last two years of your articleship, you have to complete AICITSS or Advanced Integrated Course on Information Technology and Soft skills.
  9. Enroll for the last step, which is the CA Final Course or FC.
  10. You can appear for the CA FC during the last 6 months of your training or after completing it.
  11. Once you clear the CA FC, congratulation, you have become the CA.
  12. Now enroll yourself to be a member of ICAI, and that’s it.

Direct Entry Route

  1. Enroll yourself in the CA Intermediate Course.
  2. Next complete ICITSS or Integrated Course on Information Technology and Soft skills, which is a 4 weeks course.
  3. Train yourself for 3 years under a certified CA.
  4. After completing 9 months of training, give the CA Intermediate Examination.
  5. Once you clear the exam, now register yourself for CA FC or Final Course.
  6. During the last two years of your articleship, you have to complete AICITSS or Advanced Integrated Course on Information Technology and Soft skills.
  7. You can appear for the CA FC during the last 6 months of your training or after completing it.
  8. Complete the articleship or practical training and clear the CA FC.
  9. Now enroll yourself to be a member of ICAI, and that’s it.

Subjects

As I have described in the above point, that are the main three stages for becoming a CA – CPT (Common Proficiency Test), IPCC (Integrated Professional Competence Course), FC (Final Course). Now I have mentioned all the subjects you’ll face in CPT, IPCC, and FC. Have a look:-

Common Proficiency Test

Integrated Professional Competence Course

Final Course

Preparation Tips for CA exam

  • You should know how to manage your time. Cause if you don’t know how to manage your 24 hours, then there are good chances you may waste your precious time.
  • Make a habit of study daily. Doing daily study can benefit you in many ways.
  • Whenever going for a study, tell your friends and family not to disturb you. This will help you to go to the zone of deep study.
  • Use Revisionary Test Paper and study modules of ICAI to revision. If you do it, the chances of scoring high marks in the exam can be increased.
  • Whenever you sit for study, have faith in yourself and give your not 100% but 1000% to your studies.
  • If you have heard the line Practice makes a man perfect, you must know the practice’s value. So practice as much as possible, it will help you remember the studies and boost your confidence.
  • Keep yourself updated with direct and indirect taxes.
  • Take out some time for yourself too. You can go for a walk at that time, do some fun, work out, or anything that makes you happy. Cause giving yourself time is as important as a study.