How to Become a CA (Chartered Accountant) in India after completing 12th


How to Become a CA (Chartered Accountant) in India after completing 12th
19
Jun

Chartered Accountant is a demanding course between commerce background students and almost every student of commerce after clearing 12 aspires to become a professional Chartered Accountant in India.

Basically a Chartered Accountant (CA) is responsible to manage finances of an entity, providing financial advice and helping out with money management of an individual, business or government.

CA is one of the most desirable carrier options for all but it's not easy at all to complete the course without proper guidance. It takes years of hard work and dedicated passion to become a successful Chartered Accountant and make your dream come true.

The article will guide you on How To Become a Chartered Accountant in India and act accordingly for preparation of 2020 course.

Chartered Accountancy Course 2020 Details

The following table will inform you about the application fee, eligibility, exam date and syllabus for each level of Chartered accountancy course:

  CA Foundation CA Intermediate CA Final
Last date of registration 30 Sep & 30 June 30 Sep & 30 June 30 Sep & 30 June
Examination Months May/November May/November May/November
Qualification Must have given 12th class exams Must have cleared foundation or any Graduation/PG Must have cleared inter course with 3 years training
Subjects 4 8 8
Fees Amount Rs.1130/- Rs.27200/- Rs.32300/-

In Sep 2017 ICAI has revised the syllabus for Chartered Accountancy course. They have changed CA-CPT for Foundation course, IPCC for Intermediate and CA Final against the previous course. The total CA course duration is 4.5 years after class XIIth.

The course for Chartered Accountancy is divided into 4 steps: (2017 Onwards)

  1. CA Foundation Course
  2. CA Intermediate Course
  3. Articleship Training
  4. CA Final Course

Process/Steps to Become a Chartered Accountant in India

Those who want to know the process of how to become a Chartered Accountant in India? Here is a solution to that...
There are a total of 4 steps to becoming a CA and the very first one is to clear the CA Foundation course examination.

Step 1: You must first register for the CA Foundation Course

Eligibility Criteria - Aspirant is supposed to have passed 12th out of any stream with at least 33 percent of the total marks.

Online Registration - You need to apply online by filling out details such as Name, D.O.B, Category, Gender, Parent Name, etc. on the official ICAI website for the CA Foundation Registration Process. You will receive a registration number, login ID & password after submitting the details.

Foundation Course Application - You have to fill a CA Foundation application form via online mode in order to get CA Foundation admit card for attempting the examination.

Study Duration - A total of 4 months of study time to take your exams after registration.

CA Foundation Exam - It takes place twice a year in the month of May and November. For attempting the exams you have to register prior in the month of December and June.

Fees - A total fee of Rs 11300 for registration, exam fees, application form fee and the journal for students and members must be paid.

Foundation Exam Pattern - It consists of four subjects with a total of 400 marks. The two papers will be of a subjective type and the remaining two will be objective in nature.

  • Paper 1: Principle and Practice of Accounting (100)
  • Paper 2: Business Laws (60) and Business Correspondence (40)
  • Paper 3: Business Mathematics (40) and Logical Reasoning (20) & Statistics (40)
  • Paper 4: Business Economics (60) and Business and Commercial Knowledge (40)

Result Declaration - The result for CA Foundation 2020 will be announced in the month of January& July 2020.

Course Validity - The course is applicable for 3 years which offers you 6 attempts to clear foundation in a registration, once it has expired you need to reconsider it with minimal fees again.

Qualifying Marks - Aspirant must score 40% marks in each subject and 50% in aggregate to clear CA foundation exams and qualify for the intermediate level.

Go through or article on How to prepare for the CA foundation exam to be familiar with Examination Pattern and strategies to score high marks in the exams.

You can start preparation for exams through the CA Foundation syllabus 2020, CA Foundation Previous Questions, CA foundation study material, CA foundation mock tests to get good marks in the exam.
 

CA Direct Entry or Foundation Route

Step 2: Register for the Intermediate Course 2020

There are two methods to register yourself for CA intermediate course:

1. Foundation route which asks you to clear your foundation exams after 12th.
2. Direct entry route where you need to clear your graduation and post-graduation to enter the intermediate level directly.

Inter Registration and Exams - The Registration is started in the month of March/September and the exams are conducted in November and May for the same.

Validity - Registration validity is 4 years and thus 8 attempts during this validation can be practiced. The last attempt for the old IPCC course will be May 2019.

Study Duration - There should be a study period gap of 9 months between your registration and examination.

Application Form and Admit Card - Fill online CA Intermediate exam form or application form and download the CA Intermediate Admit card 2020 for attempting the test.

Exam Pattern - The Intermediate Course is basically divided into two groups. While group1 consists of 4 subjects with 100 marks each and group 2 also has 4 subjects each with 100 marks.

Prepare for exams with the help of syllabus, CA Intermediate study material, CA Intermediate Mock Test Papers, and question papers of Intermediate level subjects.

CA Course Subjects - There is a total of 4 subjects in each group

Group 1
Paper-1: Accounting (100 Marks)
Paper-2: Corporate Laws & Other Laws (100 Marks)

  • Section I: Company Law (60 Marks)
  • Section II: Other Laws (40 Marks)

Paper-3: Cost and Management Accounting (100 Marks)
Paper-4: Taxation (100 Marks)

  • Section A: Income-tax Law (60 Marks)
  • Section B: Indirect Taxes (40 Marks)

Group 2
Paper-5: Advanced Accounting (100 Marks)
Paper-6: Auditing and Assurance (100 Marks)
Paper-7: Enterprise Information Systems & Strategic Management (100 Marks)

  • Part I: Enterprise Information System(50 Marks)
  • Part II: Strategic Management (50 Marks)

Paper-8: Financial Management and Economics for finance(100)

  • Part I: Financial Management( 60 marks)
  • Part II: Economics of Finance(40 marks)

Total Course Fees - The total fee for the single group of intermediate course is 23200 INR and for both groups, it is 23200 INR which includes registration fee, activity fee, registration for article assistant, ICITSS fees and examination fees.
Intermediate students have to attend 4 weeks of ICITSS training. And the training will only be provided once the candidate has successfully cleared both the groups. After completing training and clearing both the groups, you will be eligible for CA final level (Articleship).

Step 3: Enrolling for CA Finals and Articleship

We will move to the final stage that includes practical and theoretical exams after the completion of the Intermediate level.

Articleship Training- Once you have completed a single group of Intermediate level, you'll be able to register for Articleship. After completion of both Intermediate groups, practical training will begin. You have to pass off 3 years of training or Articleship and in return, you'll get stipends for during Articleship training. You can register for the final level in the last 6 months of practical training and appear for the exam by filling out the CA Final Exam Form or the online application form. After three years of Articleship students can register for Assessment Tests and take the test in any subsequent registration quarter.

You pass off three years of important (Articleship) training within this period of time.

Final Registration - There is no deadline for the last date of registration of the CA final course, but it is important that you must register before appearing in the final exams.

Validity - Chartered Accountant final exams take place in May & November month and the maximum validity is 5 years from the day of registration.

CA Final Fee - The total fees payable is 32300 INR for both groups including registration fees, examination fees, and GMCS fees.

Passing Marks - There are a total of 4 subjects of 100 marks in each of the groups. You have to obtain 40% marks in each subject and 50% in aggregate to clear the exam.

Result Announcement - The ICAI declares the CA Final result after one month from the last date of examination.

Following are the subjects for final level are:

Paper-1: Financial Reporting
Paper-2: Strategic Financial Management
Paper-3: Advanced Auditing and Professional Ethics
Paper-4: Corporate and Economic Laws
Paper-5: Strategic Cost Management and Performance Evaluation
Paper-6A: Risk Management
Paper-6B: Financial Services and Capital Markets
Paper-6C: International Taxation
Paper-6D: Economic Laws
Paper-6E: Global Financial Reporting Standards
Paper-6F: Multidisciplinary Case Study
Paper-7: Direct Tax Laws and International Taxation
Paper-8: Indirect Tax Laws

The final level is the hardest of all, you can go through our tips on CA Final preparation for a better understanding of exam pattern and tricks to score well.

The next way to score good marks is by daily practicing the CA Final Mock tests, previous year question papers, CA Final study material, study notes as per the latest syllabus.

You will become a member of the ICAI body after completing both the groups and passing off practical training (3 years).

"Now you become a CA."