Chartered Accountant(CA) is the most popular and reputed profession in India. If you are interested in subjects like accounting and taxation then a career in chartered accountancy is good for you. A qualified CA not only manages account details of an organization but also solve disputes and prevent bankruptcy. If you are planning to pursue a CA career then it is a better idea to start after class 10. The journey of becoming a CA is not only challenging but very promising as well. Chartered Accountant professionals are always in demand in both private as well as public organizations.

what is Chartered Accountancy?

A chartered accountant is one of the most demanding professions and designations that is given to a professional in accounting. A CA is a technically competent as well as a competitive professional with great knowledge of filing tax returns, maintaining records of investments, audit financial statements, and business practices, preparing and reviewing financial documents and reports, and offering advisory services to clients that comprise companies and individuals. To become a certified Chartered Accountant, a candidate is required to complete three levels of training that are designed by the Institute of Chartered Accountants of India (ICAI) and 3 years of Articleship. The course of Chartered Accountancy is completed in five years. The professionals generated by the CA course are enterprising professionals with good practical skills and tactics.

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4 stages of CA Course

1.CA Foundation

The first stage of the CA course is to clear the CA foundation exam. After clearing 12^th in commerce or any other recognized degree students need to appear for the CA foundation exam. CA foundation exam is an entry-level test to pursue Chartered Accountancy. The CA Foundation exam is conducted twice in a year (May and November).

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2. CA Intermediate

After a student qualifies the CA Foundation exam, he can register for the second stage. Integrated Professional Competence Course (IPCC). IPCC has two groups that focus on theoretical and practical knowledge of accounts and related subjects. Fresh graduates can directly register for CA intermediate, they don’t need to qualify CA Foundation.

3. Articleship Training

CA students need to gain both practical and theoretical knowledge. After completing any single group of IPCC students can register for Articleshipand after completing both the groups students can commence the practical training. It is mandatory to undergo 3 years of Articleship and during articleship, one can receive stipend also. Before starting articleship, candidates have to complete100 hours of Information Technology Training (ITT) and 35 hours of orientation training that includes the General Management and Communications Skill course. A student can do Articleship under an independent CA or with a recognized organization.

4. CA Final

CA final is the last stage of chartered accountants’ journey. After completing both the groups of CA Intermediate and 3 years of articleship with (ITT & OT)one can register for CA final. CA final requires expertise in every subject. The most difficult task for CA students at this stage is to manage study with the office. The main reason behind the low pass percentage in CA Final is that students directly opt for self-study, without attending revision classes.

Chartered Accountancy Eligibility criteria

• Candidates are eligible for Chartered Accountant CA Foundation registration after class 10 but they will be able to appear for it only after passing class 12.

• Students of commerce stream need to score 50% in class 12 and students of other streams need to score 55% (without mathematics) and (with mathematics) minimum 60% in class 12 are eligible for CPT.
• After clearing the CA Foundation exam successfully, candidates become the member of ICAI (Indian Chartered Accountants Institute) – the exam and course conducting body for all CAs in India.

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Roles of a chartered Accountant

• Operating Accounts
• Managing Tax
• Budgeting and Budgetary Control
• Dealing with Wages & Salaries
• Carrying out Internal Audits
• Forecasting
• Monitoring Expenditure
• Paying Accounts & Sending out Invoice

The industry that hires for Chartered Accountants

Chartered accountants are always in demand. They can either work for a business, an organization or practice independently.  Industry sectors that hire chartered accountant are:

• Banks
• Auditing firms
• Finance companies
• Mutual funds
• Investment banking firms
• Legal firms
• Stockbroking firms
• Asset management Firms
• Patent firms
• Income tax department

Chartered Accountant Salary

The future of the chartered accountant is very bright as after completing the course candidates can expect a good salary. 

An average starting salary of a CA is between Rs. 4 to 6 lakh per annum after completing the final course.  The salary bar of Chartered Accountant keeps on increasing with the experience.  To become a chartered accountant commitment, practice and hard work are important.

Hope this article has solved all your queries on how to become a chartered accountant.

The CA exam held twice in a year during the month of May and November. The CA November exam registration process will take place in August-September. The exam will conduct at 207 centers across the country as well as at five overseas centers — Abu Dhabi, Doha, Dubai, Kathmandu, and Muscat.

Applications for admission to Foundation, Intermediate (IPC), Intermediate & Final Examinations; Candidates are required to apply online at https://icaiexam.icai.org from 5th February 2020 to 26th February 2020.

For more information like application process, time duration, test center, visit the website https://www.icai.org/indexbkp.html