Today we are going to discuss how to become Chartered Accountant – Step By Step process guide about course, eligibility, qualification & salary
Hello, guys welcome to today’s blog so today we are going to take one of the most common questions with all the students who are going to become or who are planning for it.
So let me clear it is a Chartered Accountant which is one of the top careers in commerce field with a good opportunity in India.
A Chartered Accountant is known for the most respectable career fields in India.
ICAI is the one who conducts exams and runs its course to make students become a good CA.
Usually, CA is one person who can run its own firm or he can work in a company in the finance department but in both roles, his role is very important.
Let’s see the process:
My Personal Story
I want to share my story when registered for Foundation Level Examination, I was not a bright student but at that time I know that.
This would do something which will take me somewhere good in my life.
One of my mentors always told me that if you become. You will always sit in AC, can you understand it and AC just opposite.
It sounds funny but it is very interesting and I want to tell you that yes chartered accountant is one of the fields where you have to sit in AC.
And after that call, I have started preparing for examination.
So so let me share what all things will take you to become a successful chartered accountant in India
So let’s start that how you can become a chartered accountant, I will tell you step by step procedure to become a chartered accountant.
An accountant is one person who manages the financial transactions of any business, but after the introduction of GST
And Demonetization there are many opportunities coming for chartered accountant in future.
By seeing the current scenario, chartered accountant is one of the most desirable career option students are looking for it takes years to become a chartered accountant.
|CA||Foundation Course 2020||Intermediate Course 2020||Final Course 2020|
|Last date Month of registration||30 September and 30 June||28 Feb and 31 August||No last date|
|Validity of registration||3||4||5|
|Fees||Rs. 11300||Rs. 27200/23200||Rs. 32300|
|Eligibility||Should appear 12th exams||Clear foundation or graduation or pg||Clear intermediate level and 3-year practical training|
I hope this table has to give give you some idea about levels and its examination pattern, But we are going into full so that you can understand it in deep.
This guide is following the step by step procedure which is referred. I revised format of course.
To become a chartered accountant, Introduces foundation, intermediate level, and final course.
The duration of course is around at least 4.5 years, if any student clears every exam in their first attempt.
Different stages to become a Chartered Accountant course are as follows:
- Foundation course
- Intermediate level
- Internship / Articleship
- Final course
Step By Step Guide to Become a Chartered Accountant in India
First of all you have to go for Foundation level,
Step 1: Register yourself for Foundation Course
For registering into foundation course you should be 10+2 Passed
Registration of foundation: Foundation level registration required to fill online form at official website asking about all the necessary details like your name, father name, email ID, phone number, marks of 12th Class.
Fees of foundation level: You have to pay a piece of INR 11300 which is a registration fee (online form, membership, study material fees)
Foundation exam time duration: Foundation level is held twice in year basically in the month of May & November.
Paper pattern of foundation level: There are four subjects including business law, financial accounting, business mathematics, statistics, economics.
Which are divided into parts with 100 marks each(subjective and objective type)
Result: The result it is declared in the month of January and July
- Principle of accounting
- Business law
- Business mathematics and statistics
Validity: The registration is valid for 3 years in which you can attempt for 6th time under one registration. Which can be e renewed by certain fees.
Passing marks: Not like every exam it requires at least 100 marks to clear Foundation level which means 50% of total
I hope you have understand about the Foundation Course
Now let’s move to second level
Step 2: Register to Intermediate level after passing Foundation level
You can get entry in intermediate level by two methods
First: You can clear your Foundation level by after 10 + 2 and enter in intermediate level directly
Second: After graduation, there is a direct entry to the intermediate level escaping the foundation level.
So whether you are graduate or you have cleared Foundation level you have to register to for intermediate level so that you can apply for the examination.
And get the study material for intermediate level.
Registration and exam date: Usually the intermediate level examination is held in November and may and the registration of lease examination should be in March and September
Fees of Intermediate level: The total fees of a level are around INR 28000 including registration, study material, articles, generals, book, examination fees.
Paper pattern and examination: Intermediate course is divided into two groups which are Group 1 and Group 2 each includes 4 -4 subjects of 100 Each
- Corporate Law(company law and other law)
- Cost and Management Accounting
- Taxation(income tax and indirect tax)
- Advanced Accounting
- Auditing and assurance
- Information system and strategic management
- Financial management in economics
(100 Marks Each Exam)
Well, the point to be noted is that you can give these exams at one attempt or by waiting which is one at a time.
So I hope this information is very useful about Intermediate Level.
Step 3: Completing your Articleship under Chartered Accountant
After completing the intermediate level by passing in both the group you can apply for an article ship for an internship under a recognized & registered.
It is mandatory to go under 3 years of article ship training.
This 3 years training includes working on every aspect which a chartered accountant should know about and have good knowledge about it.
Step 4: Registering for Final
After successful completion of 3 years article ship training under a well-recognised chartered accountant by Institute
You have to register for the Final exam form basically application form online and take a test to become.
Exam date: The exam of Final held in May and in November. Exam is held twice in every year
Fees of final: The total fees of Examination is INR 32,300 for or both groups which include all the cost of examination registration, examination fees, study material.
Passing Marks of Final: The final examination of Chartered Accountant is divided into two groups where you have to get 50% of marks to clear the examination.
Subjects of final level examination:
- Financial Report
- Indirect tax
- Direct tax
- International Tax
- Case Study
- Economic Law
- Corporate Law
- Performance Evaluation
Important documents required for admission
- Original mark sheet of 10th class
- Mark sheet of 12th class
- Transfer certificate of candidate
- Passport size photograph
- Address proof
- Caste certificate (if applicable)
- Migration certificate(if another state)
- Marksheet of clearing first level foundation & second intermediate level
- Completion of article ship certification byCS/CMA
In India, they are more than 50000+ Chartered Accountants but still, the final level is known to be the toughest of all level.
Many aspirants say it is tough and acquired a lot of hard work to become.
But with true dedication and hard work, I am sure anyone can achieve the milestone
After clearing all these things you will become a successful chartered accountant
Just feel this after completing all these steps you are gonna achieve your goal your life’s purpose and this is the start then you can work on your own.
Provide services to multiple sector show their value.
Career and Job Options for Becoming Chartered Accountant
As I have told you earlier in this block that this is the most aspiring career option for Commerce student is for Commerce students
A Chartered Accountant is known as the best course in India and in abroad.
Once you have become a successful chartered accountant you will be a part of Institute
And a professional demand is increasing day by day everyday.
Each organization and every business needs a Chartered Accountant for financial matters.
As a chartered accountant, You can work for the government, businesses, companies, industries, PSU(public sector undertaking).
Even in India, there are many companies offering a good package and you can even one for your own self as a private practice just like a lawyer.
A chartered accountant handles
- Company registration
- Internal audit
- Monitoring expenditure and tax
- Operating accounts
Salary of an chartered accountant in India
In India chartered accountant as paid good handsome amount and it is known as one of the highest paying jobs in India
Their are many more jobs which are high paying in India
On average fresher earns around 500000 to 7 lakh per annum. Which is one of the highest gross salary for a fresher
Even in the Tier 2 and tier 3 cities a chartered accountant get the salary around 30000 to 50,000 per month.
So guys here we come to an end of this blog. Here discuss how to become a chartered accountant in India.
I have tried to make it step by step for everyone to understand very easily how you can become.
If you are 10 + 2 start preparing from now and have a clear vision to successfully achieve your target.
As we have discussed it is tough to become a chartered accountant but if you have to the dedication
And you work hard to achieve it you can easily achieve it so so I hope this blog information is helpful for you and best of luck for your future
FAQ (Frequently Asked Question about Chartered Accountant)
According to the stats, CA Rakesh Jhunjhunwala is India’s richest chartered accountant in India who has made fortune tin investing and known as Warren Buffett of India.
In India on 1st July the chartered accountant day is celebrated every year. ICAI is one of the biggest accounting Organisation in the world which comes on second number
According to the public and passed students CA is known as one of the toughest exams in India but with to dedication
And hard work you can achieve this milestone and become a successful chartered accountant in India
Yes in India, a chartered accountant can also do a business but it should be legal
And it should be generating revenue and it should be contributing to the Nation’s wealth
According to me, a chartered accountant is a course which is a certification course given by ICAI.
India it does not include law degree but it involves the law information.
And knowledge in the syllabus about companies’ law business law and mercantile law.
Some of the chartered accountants prefer to have a law degree so while preparing for a chartered accountant they apply for law degree which is LLB.
Hey, I’m Yash Verma From India. I’m a Growth Hacker. I help people grow and accelerate their businesses. I find problems and solve them with the help of technology. I love to meet & enjoy with new people and hear new thoughts & get to know. Reach out if anyone want to talk to me about Startup, Tech, Innovation & Ideas.