Overview
Birgunj Public College offers Chartered Accountancy (CA) programs affiliated with the Institute of Chartered Accountants of India (ICAI). Chartered Accountancy: Chartered Accountant is a designation given to an accounting professional who has received certification from a statutory body that he/she is qualified to take care of the matters related to accounting and taxation of a business, like file tax returns, audit financial statements, and business practices, maintaining records of investments, preparing and reviewing financial reports and documents.
A Chartered Accountant is also qualified to offer advisory services to clients which include companies and individuals.
Becoming a certified Chartered Accountant requires completing three levels of training designed by the Institute of Chartered Accountants of India (ICAI). The ICAI is a statutory body that regulates and maintains the profession of chartered accountancy in India
Under the Scheme of Education and Training, a candidate can pursue Chartered Accountancy Course either through, Foundation Course Route or Direct Entry Route.
The Foundation course is the entry point into the course after Class XII, while Direct Entry is for those who have completed Graduation.
About ICAI Exam:
In India, the Institute of Chartered Accountants of India (ICAI), conducts CA exams and certifies a candidate as a qualified Chartered Accountant on successful completion of the three-level course.
Examinations conducted are:
- Common Proficiency Test (CPT)
- Intermediate (Integrated Professional Competence) Examination
- Final Examination
Common Proficiency Test is the entry-level exam for the CA course, followed by the Intermediate and Final examinations. Intermediate (IPC)E & Final examinations are conducted twice a year, in May and November. CPT is conducted twice a year, in June and December.
The process to become a certified Chartered Accountant:
Steps under Foundation Route entry
- Register with the Board of Studies (BoS) after appearing in or clearing the Class XII examination.
- Complete four months study period (bi-annual registration: till 30th June / 31st Dec.)
- Appear for the Foundation examination in November/May.
- Qualify Foundation Course
- Register with the BoS for the Intermediate Course
- Complete 8 months of study course
- Appear and pass in either or both groups of the Intermediate Course
- Successfully complete Four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS) any time after registering for the Intermediate Course but before the commencement of the Practical Training
- Register for Three Years of Practical Training on passing either or both the Groups of the Intermediate Course
- Register for the Final Course after qualifying for both the Group's Intermediate Course
- Successfully complete Four Weeks of Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) during the last two years of Practical Training but before appearing for the Final Examination
- Appear in the Final examination during the last six months of practical training
- Complete Practical Training
- Qualify both groups of the Final Course
- Become a member
Steps Under Direct Route Entry
- Graduates can pursue Chartered Accountancy courses through Direct Route entry.
- In this entry route, Graduates/Post Graduates from Commerce stream with at least 55% aggregate or equivalent score can apply. However, they must have studied Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing, Business Administration or Management Accounting or similar to the title of these papers with different nomenclatures.
- Graduates/Post Graduates from non-commerce must have secured in aggregate a minimum of 60% of the total marks or its equivalent grade in the examination conducted by any recognized University (including Open University).
- Direct Route entry is also open to candidates who have passed the Intermediate level examination conducted by The Institute of Cost Accountants of India or by The Institute of Company Secretaries of India. Such candidates are exempted from qualifying Foundation and can register directly for Intermediate Course.
- Candidates in their final year of Graduation can also register for the Intermediate Course on a provisional basis. Registration of such candidates would be regularized only on submission of the final year mark sheet or passing certificate within six months from the date of appearance in the final year graduation examination and on successful completion of ICITSS (Orientation Course and Information Technology). During the provisional registration period, a candidate can undergo and complete ICITSS (Orientation Course and Information Technology).
Steps under the Direct Entry Scheme for Eligible Graduates and Post Graduates:
- Register with the BOS for the Intermediate course
- Successfully complete Four Weeks ICITSS before the commencement of the Practical Training
- Register for Three Years Practical Training
- Appear in the Intermediate examination after nine months of Practical Training
- Qualify Intermediate Course
- Register for the Final Course after qualifying both groups of the Intermediate Course
- Successfully complete Four Weeks AICITSS during the last two years of Practical Training but before appearing for the Final examination
- Appear in the Final examination during the last six months of practical training
- Complete practical training
- Qualify both groups of the Final Course
- Become a member
Steps under the Direct Entry Scheme for students who have passed the Intermediate level examination of the ICSI or the ICAI:
- Register with the BoS for the Intermediate Course
- Complete 8 months of study course
- Appear and Pass in either or both Groups of the Intermediate Course
- Successfully complete the four-week ICITSS any time after registering for the Intermediate Course but before the commencement of the Practical Training
- Register for three-year Practical Training on passing either or both the Groups of the Intermediate Course
- Register for the Final Course after qualifying for both the Groups of Intermediate Course
- Successfully complete Four Weeks AICITSS during the last two years of Practical Training but before appearing for the Final examination.
- Appear in the Final examination during the last six months of Practical Training
- Complete Practical Training
- Qualify both groups of the Final Course
- Become a member
The job of a Chartered Accountant is one of the toughest ones in the world of business. The responsibility for the company’s financial health is largely dependent on its CA’s competency, for it not only advises the client on financial matters but also detects and prevents fraud and deals with financial irregularities. To be able to handle this ultra-sensitive aspect of business, the CA must possess the following skills:
| Skillset for Chartered Accountancy Aspirants | |
|---|---|
| Commercial Awareness | Analytical Skills |
| Communication Skills | Teamwork Skills |
| Ethics and Professionalism | Eye for detail |
CA Eligibility Criteria
To become a Chartered Accountant, the candidate has to go through a process of training and exams at various levels, conducted by the Institute of Chartered Accountants of India (ICAI).
Eligibility criteria for Foundation Route:
- The candidate must have passed Class XII and completed four months of the study period to be able to appear for the Foundation examination
- The candidate needs to register with the Board of Studies for four months of the study period
Eligibility criteria for Direct Entry Route:
For direct entry to the Intermediate course, the candidate must be:
- Commerce Graduates/Post-Graduates (with minimum 55% marks) or Other Graduates/Post-Graduates (with minimum 60% marks) from a recognized university (including Open University)
- Intermediate-level passed candidates of the Institute of Company Secretaries of India (ICSI) and Institute of Cost Accountants of India (ICAI)
The CA course is divided into three levels: Foundation Level, Intermediate Level, and Final Level. Below are the papers covered at each level and marking schemes (officially known as skill assessment) of education and training at all levels of CA courses:
The CA course is divided into three levels: Foundation Level, Intermediate Level, and Final Level. Below are the papers covered at each level and marking schemes (officially known as skill assessment) of education and training at all levels of CA courses:
Papers of Foundation course
| Paper | Name | |
|---|---|---|
| Paper 1 | Principles and Practice of Accounting | |
| Paper 2 | Business Laws & Business Correspondence and Reporting | Section A: Business Laws
Section B: Business Correspondence and Reporting |
| Paper 3 | Business Mathematics and Logical Reasoning & Statistics | Part 1: Business Mathematics and Logical Reasoning
Part 2: Statistics |
| Paper 4 | Business Economics & Business and Commercial Knowledge
|
Part 1: Business Economics
Part 2: Business and Commercial Knowledge |
Skill Assessment Foundation Course – marking scheme
| Paper | Level I: Comprehension & Knowledge | Level II: Application | |
|---|---|---|---|
| 1 | Principles and Practice of Accounting | 5%-20% | 80%-95% |
| 2A | Business Laws | 50%-65% | 35%-50% |
| 2B | Business Correspondence and Reporting | 100% | – |
| 3 | Business Mathematics and Logical Reasoning & Statistics | – | 100% |
| 4I | Business Economics | 40%-50% | 50%-60% |
| 4II | Business and Commercial Knowledge | 100% | |
Papers of Intermediate Course
| Group | Paper Name |
|---|---|
| Group 1
|
Paper 1: Accounting
Paper 2: Corporate and other Laws Part 2: Other Laws Paper 3: Cost and Management Accounting Paper 4: Taxation Section A: Income Tax Law Section B: Indirect Taxes |
| Group II
|
Paper 5: Advanced Accounting
Paper 6: Auditing and Assurance Paper 7: Enterprise Information Systems & Strategic Management Section A: Enterprise Information Systems Section B: Strategic Management Paper 8: Financial Management and Economics for Finance Section A: Financial Management Section B: Economics for Finance |
Skill Assessment Intermediate Course – marking scheme
| Paper | Level I
Comprehension & Knowledge |
Level II
Analysis & Application |
|
|---|---|---|---|
| 1 | Accounting | 5%-15% | 85%-95% |
| 2 | Part I: Company Law | 40%-55% | 45%-60% |
| 2 | Part II: Other Laws | 35%-55% | 45%-65% |
| 3 | Cost and Management Accounting | 20%-30% | 70%-80% |
| 4A | Income-tax law | 5%-20% | 80%-95% |
| 4B | Indirect Taxes | 20%-45% | 55%-80% |
| 5 | Advanced Accounting | 5%-15% | 85%-95% |
| 6 | Auditing and Assurance | 30%-55% | 45%-70% |
| 7A | Enterprise Information Systems | 40%-65% | 35%-60% |
| 7B | Strategic Management | 50%-70% | 30%-50% |
| 8A | Financial Management | 20%-30% | 70%-80% |
| 8B | Economics for Finance | 60%-80% | 20%-40% |
Papers for Final Course
| Group | Paper Name |
|---|---|
| Group 1
|
Paper 1: Financial Reporting
Paper 2: Strategic Financial Management Paper 3: Advanced Auditing and Professional Ethics Paper 4: Corporate and Economic Laws Part I: Corporate Laws Part II: Economic Laws |
| Group II
|
Paper 5: Strategic Cost Management and Performance Evaluation
Paper 6: Elective Paper List of Elective Papers: 6A Risk Management 6B Financial Services and Capital Markets 6C International Taxation 6D Economic Laws 6F Multi-disciplinary Case Study Paper 7: Direct Tax Laws & International Taxation Part 1: Direct Tax Laws Part 2: International Taxation Paper 8: Indirect Tax Laws Part 1: Goods and Services Tax Part 2: Customs and FTP |
Skill Assessment Final Course – marking scheme
| Paper | Level I
Comprehension & Knowledge |
Level II
Analysis & Application |
Level III
Evaluation & Synthesis |
|
|---|---|---|---|---|
| 1 | Financial Reporting | 5%-15% | 55%-85% | 15%-25% |
| 2 | Strategic Financial Management | 10%-20% | 20%-40% | 50%-60% |
| 3 | Advanced Auditing and Professional Ethics | 15%-25% | 40%-70% | 20%-30% |
| 4 | Corporate & Economic Laws
Part I: Corporate Law |
15%-25% | 40%-55% | 30%-35% |
| Part II: Economic Laws | 30%-50% | 50%-70% | ||
| 5 | Strategic Cost Management and Performance Evaluation | 10%-15% | 45%-55% | 35%-40% |
| 7 | Direct Tax Laws & International Taxation
Part I: Direct Tax Laws |
5%-10% | 55%-75% | 20%-35% |
| Part II: International Taxation | 40%-50% | 50%-60% | ||
| 8 | Indirect Tax Laws
Part I: Goods and Services Tax |
10%-30% | 40%-70% | 20%-30% |
| Part II: Customs & FTP | 20%-40% | 40%-70% | 10%-20% | |
Chartered Accountancy: Top Recruiters and Job Profiles
Chartered Accountancy as a profession assists in accounting, auditing, taxation, financial, and management areas of an individual or organization. Chartered Accountants are one of the most sought-after technical professionals in the world of finance who offer their services in maintaining and reviewing the financial health of a business. Chartered Accountants today, have acquired important positions in the public as well as private sectors. A CA also acts as a business advisor who helps in the preparation of financial reports, securing loans, preparing financial projections, showing how the loans will be repaid, and determining the viability of the business. The CA also helps its client to comply with tax laws and represent him/her before government agencies.
Some of the key responsibilities include:
- To prepare and maintain financial statements and budget
- Conduct financial audits (of the organisation’s financial status)
- Provide sound financial information and advice to the client
- Advise clients on tax planning, financial risks, business acquisitions and mergers, etc
- Detect and prevent fraud and deal with financial irregularities if and when they arise
- Produce reports and recommendations following internal audits or external audits
- Advise clients on areas of business improvement
CA Top Recruiters
A chartered accountant is the necessity of all kinds of businesses, whether it big or small or even led by an individual. Every business which generates revenue needs a chartered accountant to manage its finance and taxes. So, they either hire an independent professional or take services of chartered accountancy firms.
Here’s we are mentioning some of the top corporate houses, which hire chartered accountants on regular basis:
International Firms |
||
|---|---|---|
| E&Y | Grant Thorton | Olam International |
| KPMG | BDO | Alghanim Industries |
| Deloitte | RSM International | ETA Ascon Group |
| PwC | Tolaram Group | Landmark Group |
| Kuwait Resources House | Oman Cables Industry | Qatar Insurance Co |
| Rak Investment Authority | Topaz Energy & Marine | Morgan Stanley |
| JP Morgan Chase | Citi Bank | Credit Suisse |
| BNY Mellon | Crisil | Edelweiss |
Indian Firms |
||
|---|---|---|
| Khumji Khiverji & Co | Lodha & Co | Suresh Surana & Asso LLP |
| SS Kothari Metha & Co | Diwan Chopra & Asso | S. Aiyar & Co |
| TR Chadha & Co | Luthra & Luthra | RM Rajapurkar & Co |
| JS Sundaram & Co | ICICI Bank | Axis Bank |
| Federal Bank | Kotak Mahindra | Standard Chartered |
| State Bank of India | HDFC Bank | IDFC Bank |
| RBL Bank | Janalakshmi | Bajaj Finserv & Group |
FAQs Related to Chartered Accountancy
Q: Is Chartered Accountancy a degree?
A: Yes, it is the core professional degree for pursuing a career as a chartered accountant. For more details, read the article above.
Q: What is the duration of the Chartered Accountancy Course?
A: There is no defined course duration to complete CA course, however, ideally all courses of CA are completed within 5 years. The course is considered complete only after a student clears all papers of Chartered Accountancy courses.
Q: What are the different course levels of Chartered Accountancy?
A: The CA course has different levels as under:
- CA Foundation course
- CA Intermediate/ IPC course
- CA Final Course
Q: What is the difference between Chartered Accountancy and Cost Accountancy?
A: The major difference between the CA and CMA courses is that – CA degree is a core study of accounting, taxation, auditing, and finance whereas CMA degree is the study of managing budgets, costing/ pricing, assets, liabilities, analysis, and much more.
Q: What is the eligibility criteria for Chartered Accountancy?
A: CA course can be pursued right after Class 12th by registering for the Foundation course of ICAI. Also, there is direct entry route for those who have completed a bachelor or masters degree in commerce discipline with at least 55% marks and in other disciplines with 60% marks or have passed the Intermediate course of Institute of Company Secretaries of India. For direct entry admission, candidates have to register for the Intermediate course of ICAI.
Q: Is there any age limit for Chartered Accountancy?
A: There is no maximum age limit for the CA course. However, minimum age should by 17 years (Class 12 pass).
