How to Become a Chartered Accountant: Qualifications, Exams, Salary, and Job Opportunities
Preparing financial statements, offering financial advice, reviewing audit accounts, and performing tax-related activities are all part of a CA’s employment. The Chartered Accountant is also in charge of keeping track of tax payments.
Qualification & Syllabus
After the 12th, students can sit in the entrance exam of CA. Students pursuing class XII from any stream (Arts, Science, Commerce) can give this entrance exam. It is called the foundation exam. To do so, students must first enroll in CPT, which is an entry-level course. The CPT course is followed by the IPCC course, and lastly the FC course. After this, you can apply for membership in ICAI.
The entrance exam of Chartered Accountant is the foundation exam. It is a kind of entry-level exam, which is conducted twice a year. Once in the month of May and the second time in the month of November. To take this test one has to register with The Institute of Chartered Accountants of India.
1.There is a total of four papers in the foundation exam, in which two papers are subjective and two papers are objective.
- The exam is for a total of 400 marks.
- To pass in the foundation exam, students are required to secure 50% marks in aggregate. There should be 40 marks in each subject. If the student gets less than 40 marks in any one of the four subjects, the student will be considered as failed. .
- After passing this exam, students get admission in Chartered Accountant (CA) course.
- For admission to the intermediate course, students have to pass the intermediate examination of CA.
- Intermediate consists of two groups and eight subjects. Nine months after enrolling in CA, students are considered eligible to take the intermediate examination of CA. In this, students can take one group or both groups.
- To pass in this exam also, it is necessary to have 50 percent in aggregate and 40 marks in each subject.
- After passing this exam, the student has to take articleship training. This training lasts for three years.
- After passing any one group, the student becomes eligible for articleship training. Students have to take this training from Practicing Chartered Accountant.
- In the last six months of this training, the student becomes entitled to take the final examination of CA.
There are also two groups and eight subjects in the final examination. In this exam, students can give all the papers together or separately. CA Final Exam is the final stage exam to become a Chartered Accountant and after successful in it, you become a CA.
In how many years will become CA?
It takes about four years for a student to become a CA after 12th. In this, the graduate students get direct admission. Students who wish to become a CA after graduation do not have to clear the entrance exam, they can directly take admission in the CA course. For this, they have to pass the graduation exam with a minimum of 55% marks and commerce subject. Along with the course, they can also do article ship. On the other hand, students of other subjects must be graduate with 60 percent marks for admission to CA courses. Such students can also give intermediate examinations along with article ship training.
Who takes the exam?
If you want to become a CA, then on the basis of 12th you can register in CPT i.e. Common Proficiency Test, and IPCC i.e. Integrated Professional Competition Course. One can register in CPT and IPCC at any time in the whole year, but it is necessary to do this registration ten months before the examination.
After completing CA studies, you can easily get a job as a Chartered Accountant in a multinational company. On the other hand, Finance Manager, Accounts Manager, Financial Business Analyst, Auditing/Internal Auditing, Special Audits including Chairman, Managing Director, CEO, Finance Director, Financial Controller, Chief Accountant, Chief Internal in Finance, Accounts and Tax Department in companies in India and abroad. Can work in important positions like an auditor. Not only this, one can practice on his own for CA.
As far as the job is concerned, there are possibilities for CA in all the financial sectors in the country. There is never a shortage of work for a Chartered Accountant.
The job of a CA is a lot of hard work and responsibility. Because of this, he has to work for 9 to 10 hours a day. CA gets 15 to 30 thousand rupees per month at junior level and 40 to 50 thousand rupees per month at senior level. A CA with two-three years of experience can get around 70 to 80 thousand rupees per month.