This is article is a comprehensive guide on how to become a CA in India. Chartered Accountancy is one of the dream profession among Commerce Students. This has been a very respected and responsible position in India. Once you become a Chartered Accountant, you are authorized to audit the Financial Statements of any organization. Your signature will have the power to make the Financial Statements called Audited Financial Statements and this power held in the hands of Chartered Accountants only. Now, you can imagine how much responsibility this profession holds. Therefore, the process could not be similar to B.com or BCA. It has its own exams which are necessary to pass for becoming a Chartered Accountant in India. So for this tough 4 step procedure people go to best CA Institute for prepare for this exams.
Chartered Accountancy course has been divided into four levels –
- CA Foundation
- CA Intermediate
- 3 Years of Practical Training
- CA Final
CA Foundation –
CA Foundation is an entry-level test in Chartered Accountancy course. Students who wish to appear in CA Foundation can register themselves for this course after appearing in 12th Examination. Although, you have to qualify XIIth standard in order to appear in CA Foundation Exams.
After registration into the CA Foundation course, students have to complete four months of the study period. Registration can be done from the ICAI official website.
Appear in the CA Foundation Exams (May/Nov) after completion of the study period. You have to secure 40% marks in each and every subject and 50% marks in aggregate of all the subjects to clear this exam. Once you pass this examination, you will be qualified for the next level i.e. CA Intermediate.
CA Intermediate –
CA Intermediate is the second level after CA Foundation in Chartered Accountancy course. After qualifying the Foundation Examination, students can register themselves for the Intermediate Course where they have to undergo 8 months of the study period. Students can undergo four weeks of ICITSS (Integrated Course on Information Technology and Soft Skills) anytime after registration in CA Intermediate, but before the commencement of Practical Training.
ICAI has also facilitated Direct Entry into the Chartered Accountancy course for some students. These students are not required to appear and Qualify the Foundation Exam, they can directly enroll themselves into CA Intermediate. Such students are –
- Graduates/Post Graduates from the Commerce Stream who secured minimum 55% marks in graduation/post graduation.
- Graduates/Post Graduates other than Commerce Stream secured minimum 60% marks in graduation/post graduation.
- Candidates who passed the Intermediate Level of ICSI (Institute of Company Secretaries of India) or ICWAI (Institute of Cost and Works Accountants of India).
The above students are eligible to enroll themselves directly for the CA Intermediate by securing the specified percentage. Graduates/Post Graduates are required to complete 9 months of practical training before appearing in the Intermediate Examination and for the registration of practical training, it is mandatory to complete four weeks of ICITSS.
Appear in the CA Intermediate Exam and qualify for CA Final and Practical Training registration as well. You need 40% marks in each and every subject along with 50% marks in aggregate of all the subjects.
Note – Students pursuing the Final Year of Graduation can also register for the Intermediate course on a provisional basis. Students during the provisional registration can complete their ICITSS but could not commence practical training. They can start practical training only after submission of satisfactory proof of having passed the graduation with the specified percentage of marks within six months from the date of appearance in the Final Year Graduation exams.
If the candidate failed to produce the satisfactory evidence, the provisional registration shall stand to cancel and any fee paid by him/her shall neither be refunded nor be adjusted.
Articleship Training –
Articleship Training or Practical Training is mandatory as well as important part of Chartered Accountancy Course. After clearing either single or both group of CA Intermediate, students can register for 3 years of Practical Training.
Candidates have to serve for 2 years under a practicing Chartered Accountant but in the last year they can switch to industrial training (optional) and serve under a Chartered Accountant in service. Check the rules before switching.
In the last two years of Articleship Training, candidates have to complete four weeks of AICITSS (Advanced Integrated Course on Information Technology and Soft Skills) but before appearing for the Final Examination.
CA Final –
Candidates can enroll themselves for the CA Final after clearing both groups of CA Intermediate. You can appear in CA Final while serving the last six months of practical training. Complete your remaining training period and qualify both groups of CA Final and become the member of ICAI. You need 40% marks in each and every subject besides 50% marks in aggregate of all the subjects to clear CA Final Examination.
This will end your journey as a CA Student and start as a Chartered Accountant.
In the above article, we have shared with you the complete procedure on how to become CA in India starting from its entry-level CA Foundation to CA Final. Here we have not only discussed about levels but also cover all the training which are mandatory in Chartered Accountancy curriculum. Hope you like this article so give your suggestions in the comment section given below and share this article with your friends.