_ap_ufes{"success":true,"siteUrl":"taxmasala.in","urls":{"Home":"http://taxmasala.in","Category":"http://taxmasala.in/category/budget/","Archive":"http://taxmasala.in/2017/03/","Post":"http://taxmasala.in/section-269st/","Page":"http://taxmasala.in/guest-post/","Attachment":"http://taxmasala.in/section-269st/section-269st-2/","Nav_menu_item":"http://taxmasala.in/3034/","Safecss":"http://taxmasala.in/?safecss=safecss","Feedback":"http://taxmasala.in/?post_type=feedback&p=3310"}}_ap_ufee

How to become a chartered accountant

CA is profession of dignity, honor and accuracy. Before 6 years I had also the dream to become CA and before 1.5 year I have achieved the dream.  If you have also dream to become a CA, you should have some knowledge about the scheme of study, training and syllabus of CA. Else you will waste your 1 to 2 years finding the real path for becoming CA or thinking that should I join CA or not? Is it really hard? Will I pass etc?

There are two ways for joining the course:

  1. CPT route or
  2. Direct entry route

[sociallocker id=”442″]CPT route

  1. Enroll with institute for CPC exam after 10th exam or 12th exam.
  2. After passing 12th exam, You can give the examination of CPC after 60 days from enrollment of CPC to 1st day of the month in which the examination will be held. In short if you want to give exam in December month, you have to enroll before 1st October for CPT and if you want to give exam in June month, you have to enroll before 1st April.

CPC syllabus

One paper : two sessions : 4 hours timing: objective questions

session 1:

  1. Fundamental of Accounting-60 Marks
  2. Mercantile laws- 40 marks

Session 2:

  1. General economics – 50 Marks
  2. Quantitative aptitude-50 Marks

 

Course fees : Rs. 6000

Passing criteria :

Minimum 30% marks in each of the four subjects and

Minimum 50% marks in aggregate of all the subjects.

After passing CPC examination:

There are two options:

  1. Join Accounting technician course or
  2. Join CA IPC- intermediate course

Option 1:

Accounting technician course:

If you do not want to per sue full CA course but want certificates about your speciality in accounts, you can per sue it. It is equivalent to CA intermediate course.

For it, You have to undergo 35 hours orientation  program, 100 hours ITT  training and 8 months study course before appearing for exam.

Syllabus Accounting technician course/ IPC -group 1 course:

subjects:

Paper 1: Accounting

Paper 2: Business law, ethics and communication

Paper 3: Cost Accounting and financial management
Paper 4: Taxation

Passing criteria:

Minimum 40% in each subject and

Minimum 50% in aggregate of all the subjects

Fee structure : total fees including registration of ITT and orientation programme -10,000

Download fee structure document from the end of the post

You can apply online to join the course.

After clearing exam, you have to undergo  one year practical training and after that institute will issue Accounting Technician Certificate.

Option 2:

 CA-IPC -intermediate course route:

Join CA-IPC course after clearing CPT and

Undergo ITT and orientation programme. You can appear for IPC exam after 8 months of study period.

IPC has two groups:

subjects:

Group 1: same as ATC

Group 2:

Paper 5: Advance Accounting (100 marks)

Paper 6: Auditing and assurance (100 Marks)

Paper 7: Information technology and strategic management (100 Marks)

Passing criteria:

Minimum 40% in each subject

and Minimum 50% in aggregate of all the subjects of the group.

Exemption: 

If a student achieves 60 or more marks in a subject, he will be given exemption for that subject for 3 successive attempts. Example. If you achieves 63 marks in advanced accounting and do not clear the exam due to other subjects or aggregate problems, 63 marks will be carried forward for 3 following exams and you have not to give advanced accounting subject’s exam.

Students can appear for one group or both. But group 1 is compulsory as your 3 years practical training shall be start after clearing first group. You may aware of the fact still I am mentioning that CA students can get article training from practicing chartered accountant.

You also have to undergo management training for 30 days.

You have two options for that

Option 1:

  1. Take 15 days management training in first year of articleship.
  2. Undergo remaining 15 days of managment training after 18 months of article training but before completion of article training.

Option 2:

Undergo 4 weeks residential training of professional skill development.

Clear second group of IPC before appearing for final examination.

CA Final Course:

You can appear for final course after fulfilling following criteria.

  1.  you have completed article training or in last six month of article training
  2. You have cleared both group of CA IPC
  3. You have undergo ITT training
  4. You have attended first phase of management training- GMCS

 

This is the real phase of Chartered Accountant according to me. In fInal course, you can get deep knowledge of taxation , accounting, costing matters, etc.

Subjects:

Group 1:

Paper 1 : Financial Reporting (100 Marks)

Paper 2: Strategic Financial Management (100 Marks)

Paper 3: Advanced Auditing and Professional Ethics (100 Marks)

Paper 4: Corporate and Allied Law (100 Marks)

Company Law: 70 Marks

Allied Law : 30 Marks

Group 2:

Paper 5: Advanced Management Accounting (100 Marks)

Paper 6: Information system control and audit (100 Marks)

Paper 7: Direct tax Laws (100 Marks)

Paper 8: Indirect Tax Laws (100 Marks)

Central excise (25 marks)

Service tax and Vat (50 Marks)

Customs and foreign trade (25 Marks)

Registration Fees:

10,000

Passing criteria:

Minimum 40% in each subject

and Minimum 50% in aggregate of all the subjects of the group.

Exemption for 60 marks is available for final course also.

After clearing the exam. You will be honored with chartered accountant Prefix.

Direct Entry route:

This scheme is for Commerce graduate/post graduate ( 55% minimum ) , Other graduate/post graduate (60%) or candidate who has passed intermediate examination of ICSI or ICWAI

  1. Enrol with the institute for IPC both group or group 1
  2. Undergo eight months of study course
  3. Pass group 1 or both groups in examination.
  4. undergo 100 hours ITT training and 35 hours orientation programme.
  5. Register for article assistant for three years.
  6. Undergo GMCS 1 during first year of articled training.
  7. Pass group 2 of IPC if not passed earlier.
  8. Register for final examination.
  9. Undergo second phase of GMCS training during last 12 months or after 18 months of articled training or attend 4 weeks residential management training.
  10. complete advanced IT training before appearing for final examination.
  11. complete article ship.
  12. appear for final examination after completion of article ship or during last 6 months of article training.
  13. Pass chartered accountant exam.
  14. Enroll as member.

All these things are giving idea of scheme of chartered accountancy course.

Practically, Chartered Accountancy course is divided in two sections:

  1. Study
  2. Practical training (article ship)

And both are very important. I suggest to ask seniors more and more about the course and experience of them before joining the course. Also join the practical training after consulting other persons /students to know about work experience they are gaining in the article ship.

For study, you can study your own (self study) or by taking coaching. I have cleared the exam with second attempt with out coaching. But self study is 150% harder than study through coaching.But remember that  coaching classes will not give you guarantee about passing. But It can provide you full guidance.You have to work hard, no matter you are studying your own or by taking coaching.

Some books I have used during study.

For CPT, Institute material.-62%

 

For PCC- Institute material and scanner.-51% in first group and 63% in second group

For final exam:

  1. Institute’s material
  2. Practice Manual
  3. Reference book
  4. Direct tax- manoharan-57 Marks
  5. Indirect tax-bungar-68 Marks
  6. law – munish bhandari (only handbook) – 60 marks
  7. audit – 53 Marks
  8. Financial reporting- vijay kumar-51 Marks
  9. Accounting standards-taxmann
  10. cost -padhuka- 53
  11. Isca-53 Marks-dinesh madan
  12. SFM-shridhar -51 Marks (try other alternative, as it is lengthy book)

Coaching classes ( I have no experience but I am mentioning famous names)

  1. Navkar
  2. Arihant
  3. CCI coaching
  4. suggest other name …

Some Questions :

Should You per sue the course?

It is not related to your past study record but if you do not like study at all , please don’t join the course.It requires 8 to 12 hours daily  study. It all depends on your will and interest in subjects. I am mentioning that ICAI is becoming strict in passing percentage. Last year it was 3.11% for both groups , 5.67% and 7.35% in group 1 and group 2 respectively. I am not scaring you but giving some idea about the course. If you have the passion for CA course, start soon.

Should you take coaching?

Yes, if available in your town. You can also avail online coaching like Ca club india online coaching for CA course. Icai also launched e learning for CA students.

If you can’t afford, don’t worry. I will guide you in  my next article about self study of CA course.

Should you leave your collage study for CA course?

No, continue the course with collage study.

Should You use reference books?

Yes, for better understanding of subjects.

Which reference books should you use?

I suggest you to ask your seniors about their experience with reference book. Borrow books from some one for one day and take a look and If you feel comfortable with explanations given in the book, buy the book. All books are good as all are written by great authors.

Should you pursue group study?

Yes, it reduces your stress level. But group members should be serious about study. You can exchange notes, ask questions and discuss rules of taxation.You can also stay updated with amendments and changes in laws by sharing knowledge in the group.

Which firm should I join for article ship?

The firm in which you can  get the best practical knowledge and which gives you leave for exam preparation.

I have tried to cover all the points by which you can get at least small idea about  scheme, subjects, passing criteria of Chartered Accountancy  Course.still if you have question. YOU can ask me in comments box. Don’t forget to share this article with your friends.

You can follow us on social networks:

Facebook page

Google circle

Twitter Page

Source Icai website

Visit ICAI website for more details

 

[/sociallocker]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

Share This

Share this post with your friends!