Chartered Accountancy has been one of the most resourceful career options in India its importance has grown exponentially with time. Almost every individual, corporates, organizations, lawyers and even governments require the services of a Chartered Accountant or CA for Tax filings financial planning, decision making and Audit, etc.
Governing Body: The Institute of Chartered Accountants of India (ICAI) is the statutory body established by an act of parliament.
To be a CA or a chartered accountant a student can enter after 10+2 or even after graduation. It is one of the very few courses that give students a second chance to enter into the course study.
This is not a full-time course so a student does not need to join a particular college or university for pursuing this course, instead they just need to enroll for Foundation Course after appearing in the Class 12th Examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto.
Along with pursuing this course a student can join any regular course like B.Com, BBA etc to get a formal degree as well which helps them getting good jobs during and course and after achieving the membership of ICAI.
Although it is advised not to join any high time-consuming course along with CA as the Chartered Accountancy studies and training will be extremely time and focus demanding.
Eligibility:
Subject Requirements: Students having any subject combination can become a Chartered Accountant after 10+2 or its equivalent. Although one must note that to become a Chartered Accountant the student has to excel very much in subjects like Accountancy etc and should also have a good command over mathematics/statistics.
Educational Qualification: A 10+2 appearing in the final examination or passed student is eligible for completing CA or Chartered Accountancy course. If a student doesn’t join the CA course via the Foundation route, he/she can enter even after graduation directly.
Please note this is both a time and concentration demanding course and although it isn’t pursued full-time from a particular college. One can never take it lightly and will have to devote a lot of time in order to finally become a member of the Institute of Chartered Accountants in India and enroll as a CA.
Here are the details of all the routes for becoming a Chartered Accountant in India:
Requirements to become a Chartered Accountant:
1. Through Foundation Course route (After 10+2):
(i) Enrol for Foundation Course after appearing in Class 12th Examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto.
(ii) Complete four months Study Period. Register till 30th June/ 31st December for being eligible to appear in November/ May Foundation Course Examination.
(iii) Appear in Foundation Examination after passing in the Senior Secondary Examination (10+2 examination) conducted by an examining body constituted by law in India or an examination recognised by the Central Government as equivalent thereto and on complying with (ii) above.
(iv) Join Intermediate Course after passing Foundation Examination.
(v) Undergo Four Weeks Integrated Course on Information Technology and Soft skills (ICITSS) consisting of Courses on Information Technology and Orientation Course at the earliest but these are to be completed compulsorily before commencement of their articleship.
(vi) Appear in Intermediate Examination on completion of 8 months of study course as on the first day of the month in which the examination is to be held.
(vii) Join articled training after passing either of the Group or Both Groups of Intermediate Course and after successfully undergoing ICITSS.
(viii) Clear the balance Group (if any) of Intermediate Examination.
(ix) Register for Final Course.
(x) Successfully undergo Four Weeks Advanced Integrated Course on Information Technology and Soft skills (AICITSS) consisting of Courses on Advanced Information Technology and Management Communication Skills during the last two years of practical training but before appearing in the Final Examination.
(xi) Appear in the Final Examination on completion of the practical training or while serving the last 6 months of articled training on or before the last day of the month preceding the month in which the examination is to be held after successful completion of AICITSS.
(xii) Complete articled training of 3 years.
(xiii) Pass Final Examination.
(xiv) Enrol as a member of the ICAI and be designated as “Chartered Accountant”.
2. Through Direct Entry route:
I. Commerce Graduates/Post-Graduates (55%) or Other Graduates/Post-Graduates (60%):
(i) Enrol with the Institute for Intermediate Course.
(ii) Undergo Four Weeks Integrated Course on Information Technology and Soft skills (ICITSS) consisting of Courses on Information Technology and Orientation Course before the commencement of their articleship.
(iii) Register for Practical Training of three years.
(iv) Appear in Intermediate Examination on completion of 9 months of Practical Training on the first day of the month in which the examination is to be held.
(v)Appear and pass in both groups of Intermediate Examination.
(vi) Register for CA Final Course.
(vii) Successfully undergo Four Weeks Advanced Integrated Course on Information Technology and Soft skills (AICITSS) consisting of Courses on Advanced Information Technology and Management Communication Skills during the last two years of practical training but before appearing in the Final Examination.
(viii) Appear in the Final Examination on completion of the practical training or while serving the last 6 months of articled training on or before the last day of the month preceding the month in which the examination is to be held after successful completion of AICITSS.
(ix) Complete articled training of 3 years.
(x) Pass Final Examination.
(xi) Enrol as a member of the ICAI and be designated as “Chartered Accountant”. Provisional Registration: Candidates who are pursuing the Final year of Graduation Course shall be eligible for provisional registration to the Intermediate Course. Such candidates would be required to submit satisfactory proof of having passed the graduation examination with the specified percentage of marks within such period not exceeding six months as from the date of appearance in the final year graduation examination. During the period of provisional registration, the candidate can undergo and complete ICITSS. It is clarified that in their case, the practical training will commence only on becoming a graduate with specified percentage of marks. Such candidates shall be eligible for appearing in the Intermediate Examination on completion of nine months of practical training. If such candidates fail to produce the proof within the aforesaid period, his provisional registration shall be cancelled and the registration fee or the tuition fee, as the case may be, paid by him shall not be refunded and no credit shall be given for the theoretical education undergone.
II. Candidates who have passed Intermediate level examination of Institute of Company Secretaries of India or Institute of Cost Accountants of India
Career Options:
These are some of the career options for a Chartered Accountant:
To read about the career options listed above and more in details Click here
Important Links:
https://resource.cdn.icai.org/19323ca_atcourse260510.pdf
https://resource.cdn.icai.org/45785bos35964.pdf
https://www.icai.org/post/bos-knowledge-portal
https://www.icai.org/post/foundation-course
https://www.icai.org/post/intermediate-course
https://www.icai.org/post/final-course-new-scheme-of-education-and-training
https://resource.cdn.icai.org/59025bos48129.pdf
** Disclaimer: The above information is based upon our own research done through official websites and other sources. There can be mistakes in the information provided above as the procedures for college admissions and entrance examinations keep changing, although we try our best to keep this page regularly updated as much as possible.
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