CA, CS and CMA

Chartered Accountancy (CA) is fast becoming a highly preferred career option in the field of finance especially as cost of completing the program is much less compared to other professional programs. Moreover, it offers excellent job opportunities in the field of accounting, corporate finance, auditing, taxation, corporate governance, business laws and investment banking. The Institute of Chartered Accountants of India (ICAI), New Delhi, regulates the Chartered Accountancy course and profession in India.

Over the years, the Chartered Accountancy profession has achieved rapid growth by virtue of quality professional services rendered by its members, and has come to occupy a prominent role in our economy and society. As against a meager membership of 1,700 in 1949, today the membership of the Institute is around 1,65,000.

The Institute is playing a prominent role in the international accounting bodies by virtue of its membership and active involvement in the activities of the International Federation of Accountants (IFAC), International Accounting Standards Board (IASB), Confederation of Asian and Pacific Accountants (CAPA) and South Asian Federation of Accountants (SAFA).

Independent Professional Practice
As practitioners of public accounting, CAs may start professional practice as proprietors or join any existing firm as partners or staff members. A CA has been entrusted with substantial responsibility of complying with the provisions of various legislations such as compulsory audit of the accounts of all companies, banks, cooperative societies, stock brokers, big income-tax assesses, large bank borrowers, etc.
Opt for Industry/Government Organisation
A Chartered Accountant may choose to join an industry or even a government organization and hold an important position of great responsibility. Chartered Accountants are responsible for developing, analyzing and reporting on information needed for business decisions.
Global Scenario
The opportunities are plenty, and ever-multiplying. Today, huge opportunities are available for professionals with specialized knowledge and skills sought by global organizations. These include the areas of national and international taxation, finance and corporate law.

Management Consultancy Services
A CA plays a vital role in assisting businesses to improve the use of their resources, increase their efficiency and achieve their objectives. As a management consultant a CA can also identify, evaluate and recommend ways to increase revenue and reduce operating costs; analyze operations and suggest changes in structure and individual responsibilities; conduct special studies, prepare recommendations, plans and programs; and provide advice and technical assistance in their implementation. The breadth of management advisory services rendered by Chartered Accountants reflects their clear response by application of their theoretical knowledge and business experience to the clients’ changing needs. Such services include -

  • Financial management planning and financial policy determination such as capital structure and related areas
  • Preparation of project reports and feasibility studies
  • Market research and demand studies
  • Management accounting systems, cost control and value analysis
  • Budgeting, inventory management, working capital management
  • Personnel recruitment and selection, incentive plans
  • Business policy, corporate planning, organisation development, growth and diversification
  • Organisation structure and behaviour, development of human resources
  • Systems analysis and design, and computer related services
  • Advisor or consultant to an issue
  • Investment counselling in respect of securities
  • Registrar to an issue and for transfer of shares/other securities
  • Quality audit, energy audit and environmental audit

How to become a CA Chartered Accountant

Through CPT route
  • Enrol with the Institute for Common Proficiency Course (CPC) after passing class 10th examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto.
  • Appear in CPT examination after appearing 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 after completion of specified period (60 days) from the date of registration for CPC with the Board of Studies and first day of the month in which the examination is to be held, viz., students registered on or before 1st April/1st October will be eligible to appear in June/December examination, as the case may be.
  • Join Intermediate (IPC) Course/ATC after passing CPT and 10+2 examination.
  • Undergo Orientation Programme
  • Complete 100 hours ITT
  • Students are advised to undergo Orientation Programme and complete 100 hours ITT at the earliest but these are to be completed compulsorily before commencement of their articleship.
  • Appear in Intermediate (IPC) Examination/ATE on completion of 8 months of study course as on first day of the month in which the examination is to be held
  • Join articled training after passing either Group I or Both Groups of Intermediate (IPC) Course.
  • Undergo First General Management and Communication Skills (GMCS) course (15 days) during the first year of articled training.
  • Undergo Second General Management and Communication Skills (GMCS) course (15 days) after completion of 18 months of articled training but before completion of articled training. Alternatively, attend Four Week’s Residential Programme on Professional Skills Development.
  • Clear Group II of Intermediate (IPC) Examination if not done earlier.
  •  Join CA Final Course:
  • After passing Intermediate (IPC) Examination register for Final course with the Board of Studies;
  • Collect study material of the Final course and prepare for the Final examination;
  • Complete Advance Information Technology Training during the third year of practical training but before appearing in the Final Examination;
  • Complete articled training of 3 years.
  • Appear in the final examination on completion of the practical training or while serving 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.
  • Pass final examination and complete GMCS II, if not completed earlier.

Enrol as a member of the ICAI and be designate as “Chartered Accountant”.

Through Direct Entry
Commerce Graduates/Post-Graduates (55%) or Other Graduates/Post-Graduates (60%)∗

  • Enrol with the Institute for Intermediate (Integrated Professional Competence) Course for Both Groups with or without the option of Accounting Technician Course (ATC).
  • Undergo 100 Hours Information Technology Training (ITT) and 35 hours Orientation Course spanning one Week.
  • Register for Practical Training of three years.
  • Complete General Management and Communication Skills (GMCS) – I Course during first year of practical training
  • Appear in Intermediate (Integrated Professional Competence) Examination after nine months of practical training and Study Course of eight months concurrently from the date of registration for the Intermediate (Integrated Professional Competence) Course.
  • Appear and pass in both groups of Intermediate (Integrated Professional Competence) Course.
  • Register for CA Final Course and prepare for CA Final Examination.
  • Undergo General Management and Communication Skills (GMCS) II Course (15 days) course while serving the last 19 months to 36 months of articled training.
    Alternatively, attend Four Weeks’ Residential Programme on Professional Skills and Development.

  • Complete Advance Information Technology Training during the third year of practical training but before appearing in the Final Examination.
  • Complete three years period of articled training.
  • Appear in the Final Examination while serving last six months of articled training on or before the last day of the month preceding the month in which the examination is to be held.
  • Pass Final examination.
  • Enrol as a member of ICAI and be designated as “Chartered Accountant”.

Candidates who have passed Intermediate level examination of ICSI or ICWAI

  • Enrol with the Institute for Intermediate (Integrated Professional Competence) Course either for Both Groups or Group I with or without the option of Accounting Technician Course (ATC).
  • Undergo eight months of Study Course from the date of registration for the Intermediate (Integrated Professional Competence) Course.
  • Pass either Group I or Both Groups of Intermediate (Integrated Professional Competence) Examination.
  • Undergo 100 hours Information Technology Training (ITT) and 35 hours Orientation Course spanning one week at the earliest but these are to be completed compulsorily before commencement of articled training.
  • Register as Articled Assistant for a period of three years training.
  • Undergo General Management and Communication Skills (GMCS) – I Course during first year of practical training.
  • Pass Group II of Intermediate (Integrated Professional Competence) Examination if not passed earlier.
  • Register for CA Final Course and prepare for CA Final Examination.
  • Undergo General Management and Communication Skills (GMCS) – II Course (15 days) course while serving the last 19 months to 36 months of articled training.
  • Alternatively, attend Four Weeks’ Residential Programme on Professional Skills and Development.
  • Complete Advance Information Technology Training during the third year of practical training but before appearing in the Final Examination.
  • Complete three years period of articled training.
  • Appear in the Final Examination while serving last six months of articled training on or before the last day of the month preceding the month in which the examination is to be held.
  • Pass Final examination.
  • Enrol as a member of ICAI and be designated as “Chartered Accountant”.
Registration for CPT
The candidate needs to register with the Institute of Chartered Accountants of India (ICAI) for the Common Proficiency Test (CPT) after passing the Standard X examination.
Last Dates of Registration
A student who has got himself registered for the Common Proficiency Test 60 days prior to the first day of the month in which the CPT examination is to be held can appear for the examination i.e. on or before 1st April and 1st October for appearing in the CPT examination to be held in June and December respectively. The last date for registration to attempt the examination in June is the 31st of March of the same year, and for December, it is the 30th of September of the same year.
How to Register for CPT with ICAI?

Student needs to take the prospectus containing application form from the ICAI office and submit the form along with following documents. The address of ICAI offices is available on www.icai.org. Student may register online on ICAI website.
ICAI Online Application Form for Registration to CPT
Documents required for Registration:

  • Demand draft of Rs. 6,000
  • True copy of Class 10 Marks sheet
  • True copy of Birth date proof
Common Proficiency Test (CPT)

Common Proficiency Test is an entry level test for the Chartered Accountancy course. It is a test of four subjects – Fundamentals of Accounting, Mercantile Laws, General Economics and Quantitative Aptitude. This test is an objective multiple choice type examination, with negative marking, carrying a total of 200 marks, which is divided into two sessions of two hours each with a 90 minute break in between.
Subjects to be Studied:

  • SESSION – I (Two Sections- Two hours – 100 Marks)
    • Section A: Fundamentals of Accounting ( 60 Marks )
    • Section B: Mercantile Laws ( 40 Marks )
  • SESSION – II (Two Sections- Two hours – 100 Marks)
    • Section C: General Economics ( 50 Marks )
    • Section D: Quantitative Aptitude ( 50 Marks )
Examination Pattern
  • There will total 200 MCQ’s carrying one mark each.
  • For Correct answer students will get one mark.
  • For Blank answers Zero marks will be awarded.
  • For Incorrect answers -0.25 marks will be deducted.
Passing Requirement

The minimum marks required in each section and in the aggregate in all sections of CPT as per the revised passing requirements will be as under:-

Section

Subject

Maximum
Marks

Minimum Marks
(Mandatorily to be secured after negative marking)

A

Fundamentals of Accounting

60

18

B

Mercantile Laws

40

12

C

General Economics

50

15

D

Quantitative Aptitude

50

15

Total

200

100*

Registration for IPCC
In order to register for the Integrated Professional Competence Course (IPCC), the candidate should pass both CPT and 10+2. Registration for the IPCC should be done 9 months prior to the first day of the month in which examination is held. IPCC comprises of a total of 7 papers. Group I consists of 4 papers and Group II consists of 3 papers. For pursuing Articleship, passing Group I is essential.
Registration Procedure
A student is required to apply for registration in the prescribed form. A student may buy the Prospectus by remitting Rs. 100. The Registration Application form will be supplied with the Prospectus available at the sales counter of decentralized offices. Alternatively, the application form can be downloaded from the websitewww.icai.org.While submitting the filled-in application form, a student has to remit Rs. 100 for the Prospectus along with the registration fee.
The Prospectus can also be procured by post from any of the Regional Offices of the Institute on payment ofRs. 140 (Rs.40 towards postal charges). Passing requirement under Integrated Professional Competence Course (IPCC) Examination.
Subjects of study in IPCC

GROUP-1

  • Paper 1: Accounting (100 marks)
  • Paper 2: Law, Ethics and Communication

Part I

Law

    • Business Laws: 30 marks
    • Company Law: 30 marks

60 marks

Part II

Business Ethics

20 marks

Part III

Business Communication

20 marks

  • Paper 3: Cost Accounting and Financial Management

Part I

Cost Accounting

50 marks

Part II

Financial Management

50 marks

  • Paper 4: Taxation

Part I

Income Tax

50 marks

Part II

Service Tax

25 marks

VAT

25 marks

GROUP-2

  • Paper 5: Advanced Accounting (100 marks)
  • Paper 6: Auditing and Assurance (100 marks)
  • Paper 7: Information Technology and Strategic Management
    • Section A: Information Technology (50 marks)
    • Section B: Strategic Management (50 marks)
Fees Structure

Fees to be paid for various courses of Integrated Professional Competence Course(IPCC):
Orientation Programme Fee

Sr. No.

Courses

Without Articles (Rs.)

With Articles (Rs.)

1

Group I, Group II of IPCC

9,000

11,000*

2

Group I of IPCC

8,000

-

3

Group II of IPCC

5,000

7,000

4

ICAI 100 Hrs. ITT Training Fee

4,000

-

5

ICAI 35 Hrs. Orientation Programme Fee

3,000

-

  • * Includes Registration Fees - Rs.5,000,
  • Registration Fees for Orientation Programme - Rs.1,000,
  • Registration Fees for ITT Training - Rs.2,000,
  • Student’s Activities Fees (to be paid only once at the time of Registration) - Rs.1,000 &
  • Articled Training Fee - Rs.2,000.

Articled training starts only after passing Group I of IPCC/ATC.