Table of Contents
A Chartered accountant is a professional playing a prominent role in the economy and society serving in all fields of business and finance, including auditing, taxation, financial and general management. Statutory recognition is given to the role of the members of the profession and their audit / certification is insisted upon for various purposes in different statutes. To qualify as a Chartered Accountant one has to clear the exams conducted by The Institute of Chartered Accountants of India (ICAI). In this article How to become a chartered Accountant is explained in detail.
Steps To Become A Chartered Accountant?
There are two routes to the CA course one is the Foundation route and the other is Direct Entry route
Steps |
Foundation Route |
Direct Entry Route |
1 |
Under the Foundation route student has to clear three Levels · CA foundation · CA Intermediate · CA Final
|
Under the direct entry route Student has to clear two levels of exams · CA Intermediate · CA Final
|
2 |
Register for Foundation Course (4 months before appearing for foundation exam) appear and clear foundation exam. Explained below in detail.
|
After Completing graduation/Final year of graduation register For CA intermediate
|
3 |
Register for CA Intermediate & receive study material (after 9 months from the date of registration appear for either single group or both group)
|
Complete 4 weeks of ICITSS before Registering for articleship (can Undergo ICITSS during final year of graduation also) |
4 |
Pass atleast one group
|
Appear for Intermediate exam Either single group or both the groups
|
5 |
Complete 4 weeks of ICITSS before registering articleship
|
During last two years of articleship Complete AICITSS |
6 |
Start articleship under a Chartered Accountant
|
After passing in Intermediate And completion of 2.5 years of articleship appear for CA final exam
|
7 |
During last two years of Articleship complete 4 weeks of AICITSS
|
Complete remaining period of articleship after passing CA final Register as member with ICAI |
8 |
After 2.5 years of articleship appear for CA final exam
|
|
9 |
Complete remaining period of articleship
|
|
10 |
After passing CA Final exam And completion of articleship Apply for membership |
|
CA Foundation Process explained in Detailed
If a student has qualified her 12th exams or has appeared her 12th exam and awaiting for results, then such student can begin with CA course under the Foundation route by enrolling to the foundation course. If the student is a graduate then such students can enroll to the CA course by the Direct entry route, which does not require the student to appear for Foundation exam and can directly appear to the intermediate exam. The details of the Direct entry route are given below
Eligibility for CA foundation
To register for foundation course a student should have either pass her 12thor should be awaiting for her 12thresults
Cut of Dates for CA foundation registration
Exams for Foundation are carried twice a year in the month of May and November. Student should complete a minimum of 4 month period before the date of examination. The CA foundation cut of dates are as follows:
Exam |
Cut of Date |
May 2020 |
31st December 2019 |
November 2020 |
30th June 2020 |
Registration fees for CA foundation
Description |
Amount(Rs) |
Amount(US $) |
Tution Fee |
9000 |
700 |
Prospectus Fee |
200 |
20 |
Student Journal (Optional) |
200 |
20 |
Total |
9,400 |
740 |
Steps to Registration foundation Course:
- Visit www.icai.org
- Click on SSP portal (Self Service Portal)
- Click on “New student enrolling for the first time”
- The form for personal details appears, the applier should make sure that the details are correct as NO CHANGE IS ALLOWED AFTER FORM SUBMISSION.
- Generate and Validate OTP.
- Dashboard appears with two tabs student cycle and Article cycle
- Click on student cycle
- Under student cycle fill in the following details
- Personal details: Provide details like Name, Gender, Date of Birth, Email address, Mobile number, Nationality etc (Provide all the details carefully as ICAI has clearly mentioned that changes will not be allowed after submission). After providing the required details Generate and Validate OTP. User Id and Password to login the ssp portal will be sent through mail
- Qualification details: Provide 10th Qualification details, along with 12th.If the student has cleared her 12th then she can provide those details. If she is waiting for results then she can provide provisional details like the Roll no etc of appeared exam. Once the results are declared she can provide the pending details and complete the final registration process. Also the required documents should be uploaded and signature and the Photo are mandatorily required
- Payment: After providing the above details the portal will direct towards payment. One has to make the payment and the registration will be complete
Filing of exam forms
ICAI conducts exams in the month of May and November every year throughout India. A student can apply for exam form online during the period when the portal is open by paying the prescribed fees. You can visit icaiexam.icai.org
Subjects in CA Foundation
|
Subject |
Marks |
Type |
||
Paper 1 |
Principles and Practice of Accounting |
100
|
Subjective type |
||
Paper 2 |
Business Laws and Business Correspondence |
100
|
Subjective type |
||
a) Business Laws |
60 marks |
||||
b)Business Correspondence and Reporting |
40 marks |
||||
Paper 3 |
Business Mathematics, Logical Reasoning and Statistics |
100
|
Objective type (with 1/4th negative marking for each wrong answer) |
||
a) Business Mathematics |
40 marks |
||||
b) Logical Reasoning |
20 marks |
||||
c)Statistics |
20 marks |
||||
Paper 4 |
Business Economics and Business & Commercial Knowledge |
100
|
Objective type (with 1/4th negative marking for each wrong answer) |
||
a)Business Economics |
60 marks |
||||
b)Business and Commercial Knowledge |
40 marks |
One can visit www.icai.org. Click on student portal then click on BOS knowledge portal for updated study material, Practice manual, RTP, MTP, Past year question paper etc.
Pass criteria for CA Foundation
A student will have to obtain a minimum of 40% marks in each paper and minimum of 50% marks in aggregate of all papers after considering negative marking for objective papers
CA Intermediate Process Explained in detailed
The CA intermediate course is the next level after passing CA foundation. However, student through the direct entry scheme need not appear for CA foundation.
Eligibility for CA intermediate
Foundation Route: A Candidate has to pass the foundation examination or the CPT (under the old syllabus), if he chooses the foundation route.
Direct Entry route: A candidate should have completed his graduation/post-graduation with the minimum marks required by Icai or should have passed the intermediate level of the Institute of Cost Accountants of India / the Institute of Company Secretaries of India.
Provisional Basis: A student who is in the last year of graduation can also enroll and such registration will be regularized after the student has provided sufficient proof of passing the graduation. The advantage of registering under such basis is that the student can undergo Integrated Course on Information Technology and Soft Skills (ICITSS) which requires weeks so if you can finish ICITSS well in advance.
Cut of Dates for CA intermediate registration
Exams of CA Intermediate are carried twice a year in the month of May and November. Student should complete a minimum of 9-month period of Articleship before the date of examination who are through the direct entry route and 9 months of study period for students from the foundation route. The cut of dates are as follows:
Exam |
Cut of Date |
May 2020 |
1st September 2019 |
November 2020 |
1st March 2020 |
CA intermediate Fees
Description |
Amount (Rs) |
Registration fees with BOS |
15000 |
Registration fees as Article Assistant |
1000 |
Student activities fees |
2000 |
Total |
18000 |
Steps to Registration CA Intermediate Course
- Login to SSP Portal
- Dashboard shows two options one is Student cycle and the other is Articleship cycle
- Click on Student cycle
- The Student cycle Shows two options one is “Intermediate (Direct Entry) for existing student” or “Intermediate through PE1/CPT/Foundation”
- Select the one applicable
- Enter your personal details and Qualification details
- Pay attention while Selecting the medium of study
- Select single group or both the group, with or without articles
- Upload Photo/Signature and required documents
- The portal directs towards payment gateway
- After payment the submitted application form will be verified and approved by Icai accordingly
Filing of exam forms
ICAI conducts exams in the month of May and November every year throughout India. A student can apply for exam form online during the period when the portal is open for applying by paying the prescribed fees. You can visit icaiexam.icai.org.
Subjects in CA Intermediate Course
Intermediate course has been divided into two groups. A student can apply for single group or apply both the groups and clear the Intermediate level.
GROUP I |
||
Paper 1 |
Accounting |
100 marks |
Paper 2 |
Corporate Laws & Other Laws |
100 marks |
a) Company Law (60 marks) |
||
b) Other Laws (40 marks) |
||
Paper 3 |
Cost and Management Accounting |
100 marks |
Paper 4 |
Taxation |
100 marks |
a) Income-Tax Law (60 marks) |
||
b) Indirect Taxes (40 marks) |
||
GROUP II |
||
Paper 5 |
Advanced Accounting |
100 marks |
Paper 6 |
Auditing and Assurance |
100 marks |
Paper 7 |
Enterprise Information Systems & Strategic Management |
100 marks |
a) Enterprise Information Systems (50 Marks) |
||
b) Strategic Management (50 Marks) |
||
Paper 8 |
Financial Management & Economics for Finance |
100 marks |
a) Financial Management (60 Marks) |
||
b) Economics for Finance (40 Marks) |
Pass criteria for CA Intermediate
A student can appear for both the groups or a single group. A student will have to obtain a minimum of 40% marks in each paper and minimum of 50% marks in aggregate in each group if attempting single group. However, if the student appears in both the groups then the aggregate of both the groups should be 50% marks, the advantage of attempting both groups is that marks of one group can be set off with the other group.
For eg if group 1 score is 250 after scoring 40% in each subject and group 2 score is 190 after scoring 40% in each subject, then the shortage of marks in group2 can be completed by set off from group 1.
CA Final Process Explained in Detail
CA Final is the last level of examination after successfully completing the Foundation and the Intermediate level.
Eligibility for CA final
The following eligibility is required for registration of CA Final course.
- A student should have passed both the groups of CA intermediate
- A student should have completed 2.5 years of articleship out of the total period of 3 years of articleship to appear for the CA final exam
- For appearing the CA final exam the student should mandatorily undergo 4 weeks of Advanced Information technology and management communication skills (AICITSS), this can be taken up from the 2nd year of articleship
Due date for registration:
Exam |
Cut of Date |
May 2020 |
31st December 2019 |
November 2020 |
30th June 2020 |
Fees For CA FInal
Description |
Amount(Rs) |
Amount(US $) |
CA Final Registration fees |
22000 |
1100 |
Steps for Registration of CA Final course
- Login to SSP Portal
- Go to student cycle
- Final tab will appear on screen
- Registration form opens with most of the details Auto filled check and edit accordingly
- Fill the personal details and the course details(be sure of which elective subject you would want to prefer)
- Generate and Validate OTP
- Make Payment
- ICAI will acknowledge the payment and provide the material
Filing of exam forms
ICAI conducts exams in the month of May and November every year throughout India. A student can apply for exam form online during the period when the portal is open for by paying the prescribed fees. You can visit icaiexam.icai.org.
Subjects in CA Final course
GROUP I |
|
Marks |
Paper 1 |
Financial Reporting |
100 Marks |
Paper 2 |
Strategic Financial Management |
100 Marks |
Paper 3 |
Advanced Auditing and Professional Ethics |
100 Marks |
Paper 4 |
Corporate and Economic Laws |
100 Marks |
GROUP II |
|
|
Paper 5 |
Strategic Cost Management and Performance Evaluation |
100 Marks |
Paper 6A |
Risk Management |
100 Marks |
Paper 6B |
Financial Services and Capital Markets |
100 Marks |
Paper 6C |
International Taxation |
100 Marks |
Paper 6D |
Economic Laws |
100 Marks |
Paper 6E |
Global Financial Reporting Standards |
100 Marks |
Paper 6F |
Multidisciplinary Case Study |
100 Marks |
Paper 7 |
Direct Tax Laws and International Taxation |
100 Marks |
Paper 8 |
Indirect Tax Laws |
|
Pass Criteria for CA Final
A student can appear for both the groups or a single group .A student will have to obtain a minimum of 40% marks in each paper and minimum of 50% marks in aggregate in each group if attempting single group. However if the students appears in both the groups then the aggregate of both the groups should be 50% marks , here marks of one group can be set off with the other group.
CA Articleship Explained in Detail
A student has to undergo 3 years of articleship training during the CA course.
If the student has chosen the foundation route then she can start her practical training after passing in any one group of Intermediate. Before beginning her articleship it is mandatory to complete four weeks of ICITSS.
If the student has chosen Direct Entry Scheme then she must undergo articleship training after registration fo Intermediate course and 9 months of training should be mandatorily completed before appearing for Intermediate exam.
Opportunity after CA
After completing and passing in all the levels of CA course along with practical training the student can now apply for membership with ICAI.
A qualified CA can choose to practice or can choose to take up job. If she chooses to practice, then she must apply for Certificate of practice with ICAI.
After qualifying as CA one can serve as an auditor, as an advisor, manager in relation to accounting, taxation and finance in various business sectors and entities. Nowadays many CA’s are even into teaching profession, online blogging, online advisory services etc. A CA is always in demand unaffected by the economic conditions of the market. The role of a CA is very wide and difficult to list down.
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