Completing the CA Course can help you to become a Chartered Accountant. This post will brief you about everything a CA Aspirant must know such as details, fees, duration, subjects, etc.
In India, Chartered Accounting is amongst the most prominent professions. The field of accounting is a critical component of any business. Further, the work of a chartered accountant is in high demand due to the complex and detailed nature of the job.
A CA can expect to work long hours, but the job is highly rewarding and can lead to a successful career. To give you an overview, the average CA salary in India ranges between 9 to 10 lakhs per annum. Moreover, there are many opportunities for advancement within the accounting field, and a CA can find opportunities in various industries.
The road towards becoming a chartered accountant i.e, the CA Course is difficult, and however, the challenges and hard work is worth it. Further, depending on the level of your hard work, the CA Course Duration can differ.
Overview Of CA Career
Further, Chartered accountants are constantly in great demand. A CA can operate for a company or an organisation, assisting with accounting, finance, taxes, and auditing. Moreover, one can also function independently and provide your services to anyone who needs them.
A CA’s job might include several responsibilities, depending upon the nature and scale of the company for which they operate. A CA’s duties include:
- Preparing accounting statements and documents.
- Keeping track of investment information.
- Identifying potential financial risks.
Further, the CA’s role also encompasses offering competent advice on the company’s financial decisions. Therefore, in the CA Course syllabus, students are taught about accounting, taxation, auditing, financial management and more.
They also examine financial records and processes for efficiency and compliance with established accounting standards.
Details about Each CA Course
In this section, we’ll give you an insight into the CA Course details.
You can begin your career as a chartered accountant after clearing your XIIth grade or after graduating or post-graduation. The approaches are similar; however, if you have already completed graduation or PG, you can bypass the CA Foundation Exams.
About CA Foundation
A student needs to undergo the CA course registration process to start with the CA journey, and the students need to enrol for the CA Foundation course. Moreover, a student, after completing their class 10th, can also register for the CA course provisionally. However, the candidate is only eligible for the exams after passing the 12th class exams.
During the May and November of each year, the CA Foundation exam occurs. For the next years May’s attempt, the student must complete the CA registration during December. Additionally, the student needs to enrol during the June of the following year for the November attempt.
Further, to pass the CA Foundation, a candidate must score at least 40 marks for each subject and an overall aggregate of 50 per cent.
About CA Intermediate
After clearing the Foundation exam, students must enrol in the CA Intermediate course, which has two groups. To take exams, you must first finish an 8-month exam preparation, and this examination is also held twice yearly, in May and November.
If students pass even one CA Intermediate group, they can join the three-year required Articleship programme.
About CA Finals
During the Articleship, one can enrol in the Final Course (divided into two groups), but after clearing both Intermediate Course groups with at least 40% in each subject and 50% collectively. Further, the CA Finals is held twice annually. Additionally, after finishing the practical training and clearing both CA Course final groups with at least 40% in every subject and 50% altogether, one can join the ICAI and become a CA.
What are the Subjects in the CA Course?
The CA Foundation course is as follows:
- Principles & Practice of Accounting – Descriptive Paper
- Business Law & Business Correspondence and Reporting – Descriptive Paper
- Mathematics, Logical Reasoning & Statistics – MCQ-based Paper.
- Business Economics and Business & Commercial Knowledge – MCQ-based Paper.
The subjects in the CA Intermediate is as follows:
- Accounting – 100% Descriptive
- Corporate & Other laws – 30% MCQ & 70% Descriptive
- Cost & Management Accounting – 100% Descriptive
- Taxation – Income tax law & Indirect Taxes – 30% MCQ & 70% Descriptive
- Advanced Accounting – 100% Descriptive
- Auditing & Assurance – 30% MCQ & 70% Descriptive
- Enterprise Information Systems & Strategic Management – 30% MCQ & 70% Descriptive
- Financial management & Economics for Finance – 100% Descriptive
The CA Final Course is as follows:
- Financial Reporting – 100% Descriptive
- Strategic Financial Management – 100% Descriptive
- Advanced Auditing and Professional Ethics – 30% MCQ & 70% Descriptive
- Corporate and Economic Laws – 30% MCQ & 70% Descriptive
- Strategic Cost Management and Performance Evaluation – 100% Descriptive
- Elective Paper – 100% Descriptive
6A Risk Management
6B Financial Services and Capital Markets
6C International Taxation
6D Economic Laws
6E Global Financial Reporting Standards
6F Multi-disciplinary Case Study
3. Direct Tax Laws & International Taxation – 30% MCQ & 70% Descriptive
4. Indirect Tax Laws – 30% MCQ & 70% Descriptive
CA Course Duration
The average CA course duration following 12th grade is approximately 5 years, while the minimal CA course duration following graduation is approximately 4.5 years. The frequency of attempts you make to pass the tests, nevertheless, increases the length of the course.
CA Course Fees
Now let us discuss the CA Course Fees. In total, the CA Foundation course will cost a student Rs. 10,900.
For the CA Intermediate, a student has to pay around Rs. 33400 for groups 1 and 2, Rs. 28200 for any one group, and Rs. 33600 for the students of direct entry students.
The CA Final Course Fees will be around Rs. 39800 for groups 1 & 2, and Rs. 38300 for any one group.
What is the Salary of CA in India?
The salary of a chartered accountant is determined by various criteria, including experience, abilities, and place of employment. A pay package is offered to a Chartered Accountant on the basis of these factors. A CA’s initial pay at the start of their career is believed to be Rs 3 lakhs per annum.
Additionally, a CA’s maximum remuneration for overseas assignments is up to 75 lakhs annually. For a domestic position, the maximum compensation is between 20-40 lakhs per annum.
So, in this article, you’ve got some important details about CA Course, details about CA Foundation, Inter and final, their subjects, duration, fees, and salary.
The CA Course is not difficult if you prepare properly and study diligently. So, the course term prepares/trains an ambitious guy for the type of work/duties that the aspirant will be undertaking after becoming a Chartered Accountant.