Careers of Chartered Accountants (CA)

REQUIREMENTS

For studying Chartered Accountant, one has to pass his or/ her minimum qualification of passing 10+2 with a good percentage. Without passing of this basic requirement, one cannot pursue, his or/ her further studies. Following are the requirements:

LevelSubjectsPassing Criterion
Common Proficiency Test (CPT)Paper 1 : Fundamentals OF Accounting

Paper 2 : Quantitative aptitude

Paper 3 A: Mercantile Law

Paper 3 B: General Economics

Paper 4 : General English

Paper 4 B: Business Communication

30% in each paper and 50% aggregate
Integrated Professional Competency Course (IPCC)Group I:

Paper 1 : Accounting

Paper 2 : Business Laws, Ethics and Communication

Paper 3 : Cost Accounting and Financial Management

Paper 4 : Taxation

 

Group II:

Paper 5 : Advanced Accounting

Paper 6 : Auditing and Assurance

Paper 7 : Information Technology and Strategic Management

40% in each paper

50% aggregate in each group

Or 50% aggregate in both groups if attempted simultaneously

CA Final ExaminationGroup I:

Paper 1 : Financial Reporting,

Paper 2 : Strategic Financial Management,

Paper 3 : Advanced Auditing and Professional Ethics,

Paper 4 : Corporate and Allied Laws,

 

Group II:

Paper 5 : Advanced Management Accounting,

Paper 6 : Information Systems Control and Audit,

Paper 7 : Direct Tax Laws

Paper 8 : Indirect Tax Laws.

3 year article-ship with certified Chartered Accountant

40% in each paper

50% aggregate in each group

Or 50% aggregate in both groups if attempted simultaneously

THE WORK

Main responsibility of Chartered Accountant is to prepare, examine or analyze accounting records, financial statements or other financial reports to assess accuracy, completeness and conformance to reporting and procedural standards. In the process he interacts at regular intervals with individual as well as boards of the companies making communication skills, one of the important skills apart from financial aptitude. Indian Chartered Accountant Association of India (ICAI) recognized this and has included relevant training in the course.

CA analyzes business operations, trends, costs, revenues, financial commitments and obligations, to project future revenues and expenses or to provide advice. He develops, maintains and analyzes budgets, prepares periodic reports that compare budgeted costs to actual costs. He may provide both internal and external auditing services for businesses or individuals.

CA computes taxes owed and prepare tax returns, ensuring compliance with payment, reporting or other tax requirements. He establishes tables of accounts and assigns entries to proper accounts. He develops implements, modifies, and documents record-keeping and accounting systems, making use of current computer technology. New software programs that assist CA in his work have made their work streamlined in more than one way.

He also advises clients in areas such as compensation, employee health care benefits, design of accounting or data processing systems or long-range tax or estate plans.

Associated Institutions

Institute of Chartered Accountants of India (ICAI)

Pay-scale

A budding CA is paid anywhere between INR 4 Lakhs to INR 7 Lakhs to start with. With experience and exposure, pay-scale varies a lot.

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