A Comprehensive Guide to Becoming a Chartered Accountant

Complete Guide about CA

CA Course: Millions of students enroll in CA (Chartered Accountancy) courses each year since it is one of India's most reputable and well-paid professions. Chartered Accountancy is one of the interesting job alternatives one might think about after graduating from high school or college. It is regarded as one of India's most prestigious and lucrative professions. Due to the high quality of the professional services provided, the Chartered Accountancy profession has experienced tremendous expansion throughout time.

Therefore, Chartered Accountants are given a lot of responsibility by the government and the general public, and many other fields of endeavor make use of their specific knowledge and abilities. The job of chartered accountants is recognized legally, and several regulations need their audit or certification for specific purposes.

Moreover, Taxation, financial reporting, accounting, applied finance, management accounting, etc., are the main fields in CA Course and in which Chartered Accountants experts offer their services. They might have complete control over a company's or business's accounting requirements. Chartered accountants are qualified to operate in the public, private, and government sectors of all industries. Therefore, a chartered accountant course is the ideal career choice for anyone with an interest in accounting, finance, or taxation.

Therefore, the profession is governed by an organization with legal status named The Institute of Chartered Accountants of India (ICAI). Moreover, this organization welcomes members who have earned their chartered accountant designation. The Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) established the Institute of Chartered Accountants of India (ICAI), a statutory body, to oversee the regulation of the Chartered Accountancy profession in the nation. The Institute is the second-largest Chartered Accountants professional organization in the world and operates administratively under the Ministry of Corporate Affairs of the Government of India.

However, we are providing you with a guide below that will undoubtedly aid in your knowledge of the CA Course and provide you with all the CA course details after 12th in-depth!

CA Course Details 2023

You may see the eligibility requirements, registration costs and their validity, the examination month, and the subjects for all levels of the Chartered Accountant course in this overview:

Particulars CA Foundation Course 2023CA Intermediate Course 2023CA Final Course 2023Last date of registration for May 2023Before 1st January 20231st November 20221st November 2022Examination heldMay and NovemberMay and NovemberMay and NovemberValidity of registration3 year4 year5 yearSubjects488FeesRs. 10700Rs 20700/14500Rs 25300EligibilityShould appear in 12th examsShould clear foundation or graduation or pgShould clear the intermediate level and 3-year practical training

Eligibility for the CA Course

However, the CA Course is open to students from any stream, including science, business, and the arts. The class is divided into Foundation, Intermediate, and Finals levels. Although the Foundation exam is the first step in enrolling in this course, the ICAI also permits direct entry to its Intermediate CA Course for Commerce Graduates and Postgraduates with a minimum of 55% marks, Other Graduates and Postgraduates with a minimum of 60% marks, and Intermediate level passed students of the Institute of Company Secretaries of India and Institute of Cost Accountants of India.

Moreover, you can only earn the degree of Chartered Accountancy with a CA Course after passing all three levels and completing three years of articleship (training).

• Step 1: First, you must enroll in the CA Foundation Course.

• Step 2: Enroll in the 2023 CA Intermediate Course

• Step 3: Registering for Finals and Articleship

CA Course Levels

Level 1 - CA Foundation

The CA Foundation exam, formerly known as the Common Proficiency Test (CPT), is the first step in CA Course toward becoming a chartered accountant. CA Foundation began accepting applications on July 1, 2017. There is no maximum or minimum age requirement; anyone who has completed class 12 and enrolled with the ICAI within the required time frame is qualified to take the CA Foundation Exam.

However, one must know the CA course details after 12th; moreover, after completing the 12th grade, one may enroll in the Foundation Course. To be eligible to take the November or May Foundation Course Exam, one must register by June 30 or December 31.

Steps for CA Foundation Course Registration:

• Go to the ICAI website (icai.org).

• Fill up the blanks with your name, date of birth, email, mobile number, and Aadhaar number. Create a password.

• Login to the Registration Portal after creating an account.

• Add the relevant details when appropriate.

• Documents must be uploaded or submitted.

• Make your payment

• The application should be saved and printed.

• Sign and date the application.

• Send your application to the ICAI.

CA Foundation Course Syllabus

Furthermore, the CA Foundation curriculum is broken into four subjects. Also, you can find all the CA Course details of the foundation syllabus in the table below.

CA Foundation Syllabus

• Paper 1: Principles and Practices of Accounting(100 marks)

• Paper 2: Mercantile Law and General English(100 marks)

  • Part I: Mercantile Law(60 marks)

  • Part II: General English(40 marks)

• Paper 3: Business Mathematics, Logical Reasoning, and Statistics(100 marks)

  • Part I: Business Mathematics and Logical Reasoning(40 marks)

  • Part II: Business Statistics(60 marks)

• Paper 4: Business Economics & Business and Commercial Knowledge(100 marks)

  • Part I: Business Economics(60 marks)

  • Part II: Business and Commercial Knowledge(40 marks)

NOTE: Papers 3 and 4 are objective-style exams with zero points. The Board of Studies publishes thorough study guides for all four topics.

CA Foundation passing criteria

However, a candidate for the Foundation Course will be considered to have passed the test if they receive at least 40% on each paper and at least 50% overall, subject to the concept of negative marking.

Level 2 - CA Intermediate

Moreover, one may enroll in an intermediate course after completing the foundation exam. This level includes a working grasp of the fundamental and related topics related to the accounting profession. Students who have registered for the Intermediate CA Course through the Foundation Course route or who attended the level directly must complete an eight-month study course before they first appear in the Intermediate Examination to build a solid theoretical foundation.

Moreover, the subjects for the intermediate course are divided into two groups, which a student may choose to study and take both groups' exams simultaneously. Group 1 has four papers, and Group 2 has three papers.

Therefore, students who pass the CA Course intermediate exam must complete a three-year training program in order to put everything they have learned at the intermediate level into practice. Also, before beginning their practical training, students are given a four-week Integrated Course on Information Technology and Soft Abilities (ICITSS). Properly comprehending the modern world requires knowledge of current technology and abilities.

Steps for CA Intermediate Course Registration

However, candidates must fill out the online registration form found under "Course Registration Forms" on the "Students tab" of the ICAI website (www.icai.org) in order to register for the Intermediate CA Course via either of the two accessible pathways.

Things to consider when filling out the registration Form

• After completing the Online Form, pay the needed fee online via the payment gateway.

• After a successful payment, the system will generate the Form, which must be printed.

• The following documents must be submitted to the concerned Regional Office within 7 days of the date of online registration, along with a printout of the online registration form that the student has duly signed. Foundation Route students must submit an attested copy of their Class 12th or equivalent Central Government-recognized examination pass marks statement.

• Direct Entry students must submit an authenticated copy of their Graduation/Post Graduation mark statements/mark sheets from the Institute of Company Secretaries of India or the Institute of Cost Accountants of India's Intermediate level examination.

• One current color photograph (attached to the printout of the successful online registration form)

• If the student is a foreigner, an attested copy of proof of nationality is required.

• Attested copy of special category certificate, i.e., SC/ST, OBC, etc. Disabled people.

Moreover, after completing the CA Course registration process, students will get their study materials via the Centralized Dispatch System (CDS). The registration for an intermediate course is good for four years, but it can be renewed for an additional four years for a charge of 400 rupees, or as the council may from time to time establish.

CA Intermediate Course Syllabus:

Moreover, you can find all the CA Course details of the Intermediate syllabus in the table below.

CA Intermediate SyllabusGroup 1

• Paper 1: Accounting(100 marks)

• Paper 2: Corporate and Other Laws(100 marks)

  • Part I: Company Law(60 marks)

  • Part II: Other Laws(40 marks)

• Paper 3: Cost and Management Accounting Accounting(100 marks)

• Paper 4: Taxation (100 marks)

  • Part I: Direct Taxation (60 marks)

  • Part II: Indirect Taxation (40 marks)

Group 2

• Paper 5: Advanced Accounting (100 marks)

• Paper 6: Auditing and Assurance (100 marks)

• Paper 7: Enterprise Information Systems and Strategic Management (100 marks)

  • Part I: Enterprise Information System(50 marks)

  • Part II: Strategic Management (50 marks)

Note: Only 30% of the questions on Papers 2, 4, 6, and 7 are objective. 1, 3, and 5 are completely subjective.

CA Intermediate passing criteria:

However, a student may complete the groups in one or more attempts, either jointly or independently. A student is deemed to have passed both groups if he receives at least 40 marks in each paper and an aggregate of 50% in all papers from both groups.

Level 3 - CA Final Course

Furthermore, This is the final step of the CA Course. Students who successfully complete the AICITSS's four-week Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) are then qualified to sign up for the final course and take the final exam during the final six months of their practical training. Students of the Final Course are given AICITSS throughout the last two years of practical training but before taking the Final Examination in order to create a strong foundation for information technology and soft skills to prepare them for the corporate world.

However, students are tested on Advanced Information Technology (AICITSS) through an online test paper/OMR exam paper administered by the Examination Department, which students must pass with the required grades in order to appear for the Final Examination. One elective paper has been added to the Final Course curriculum to allow students to specialize in a certain topic. Risk Management, Financial Services & Capital Markets, International Taxation, Economic Laws, Global Financial Reporting Standards, and Multidisciplinary Case Studies are among the papers available to students.

However, once you have registered for the CA program's Final Course, your registration is valid for 5 years. If you need more time to complete the course, you can revalidate your registration for another 5 years. This is accomplished by paying a revalidation charge of Rs. 500/- or the amount specified by the Council at the time. This essentially means that you have the freedom to extend your registration and continue pursuing the Final Course without regard to the number of times you can revalidate it.

Additionally, following successful completion of AICITISS, candidates may sit for the Final test after finishing practical training or while completing the final six months of articled training, but no later than the last day of the month before the test month. CA Course Finals are divided into two groups, Group -1 and Group-2, each of which has four papers.

CA Final Course Syllabus:

Moreover, you can find all the CA Course details of the Finals syllabus in the table below.

CA Final Syllabus

• Paper 1: Financial Reporting (100 marks)

• Paper 2: Strategic Financial Management (100 marks)

• Paper 3: Advance Accounting and Professional Ethics (100 marks)

• Paper 4: Corporate and Economic Laws(100 marks)

  • Part I: Corporate Laws (70 marks)

  • Part II: Economic Laws (30 marks)

• Paper 5: Strategic Cost Management and Performance Evaluation (100 marks)

  • Part A: Strategic Cost Management and Decision Making

  • Part B: Performance Evaluation and Control

• Paper 6: Elective Paper (100 Marks) (One to be chosen from the list of Elective Papers) Elective Papers

  • 6A Risk Management

  • 6B Financial Services & Capital Markets

  • 6C International Taxation

  • 6D Economic Laws

  • 6E Global Financial Reporting Standards

  • 6F Multi-disciplinary Case Study

• PAPER 7: Direct Tax Laws and International Tax Laws (100 marks)

• Part A: Direct Tax Law (70 marks)

• Part B: International Tax Law (30 marks)

• Paper 8: Indirect Tax Laws (100 marks)

CA Final passing criteria:

Therefore, a student may complete the groups in one or more attempts, either jointly or independently. A student is deemed to have passed both groups if he receives at least 40 marks in each paper and an aggregate of 50% in all papers from both groups.

CA Course: Preparation Strategies

To prepare for CA exams, getting professional advice and thoroughly completing the ICAI study modules is critical. Students can choose between online and in-person CA Courses based on their preferences. Students should finish their coaching on time so that they have enough time for self-study. To be complete with your notions, it is critical to read the institute's study material and practice manuals several times. Preparing for the CA Exam necessitates a significant amount of time and effort. Perseverance and consistency are essential for passing the examinations.

What's the Takeaway from the CA Course?

Moreover, the CA (Chartered Accountancy) program offers a hard yet rewarding road for students aspiring to become professional chartered accountants. The CA Course offers a complete education in accounting, auditing, taxation, and finance, which leads to a wide range of professional options. It's critical to stay up to speed on the Institute of Chartered Accountants of India's (ICAI) standards and criteria to stay on track. As a result, you'll have the knowledge and abilities you need to pursue a rewarding career in finance and accounting.

Also, pursuing the CA Course necessitates dedication, perseverance, and a strong interest in the field. Individuals who complete the program will be able to pursue a respected and satisfying career as chartered accountants, having gained the information and skills required for success in the field.

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Frequently Asked Questions (FAQs)

Q1. What are the new CA Course 2023 changes?

Ans. CA New Syllabus Final 2023

Six instead of eight CA Final papers will be offered in the 2023 CA New Scheme, according to ICAI. Now there are two groups, each with three papers. The CA Final Subjects have undergone the following significant changes: Papers 4 and 5 will be dropped, and their subjects will be added to the self-paced modules.

Q2. How do I finish CA in three years?

Ans. In India, becoming a CA takes 4 to 5 years, including a necessary time of articleship. The ICAI permits organizations to pursue a CA course both after finishing class 12th and after graduation, but only if they have already finished a related course.

Q3. Is CA going to be in high demand in the future?

Ans. Chartered Accountancy is becoming a more global profession as the globe becomes more interconnected. CAs who can offer cross-border services will have a significant advantage in the coming years. Moreover, you can check our CA Course guide in the above Blog to get detailed information on how to become a Chartered Accountant.

Q4. Does CA have future value?

Ans. After doing a CA Course and becoming a chartered accountant, you have the option of working for a firm or starting your own private practice. However, many CAs wind up working for themselves as independent practitioners or as consultants.

Q5. What is the best age for CA?

Ans. The CA Course has no age restrictions. If you have completed your 10+2, you can register for the foundation course at any age. Moreover, you can check our CA Course guide in the above Blog to get all the CA Course details after 12th.