CHARTED ACCOUNTANT
CHARTED ACCOUNTANT - The king of business world.
The Indian Chartered Accountancy Course is the membership qualification course offered by the Institute of Chartered Accountants of India (ICAI). Any person who wants to become a member of ICAI and designate himself as a Chartered Accountant in India has to pass this course. There are presently around two lakh menbers of ICAI. It is a prestigious group who are available for assessing the income of a country with a population of 121 crore ( record 2011 ) .They collect 70% of the revenue of The Government of India.This course is a optimum blend of practical and theoretical education. It consists of three levels of examinations and three years of practical training under a practising Chartered Accountant. The Chartered Accountancy course is considered to be one of the rigorous professional courses in India but not difficult if one puts his/ her fullest efforts.
Chartered accountancy or better known as CA is the ultimate goal almost every commerce student and rightly so as CA is one of highly paid jobs in the nation. The job of CA includes financial reporting, auditing, taxation and accountancy. Overall the aim of a CA is providing professional advice so as to increase the profits of the organization
Chartered accountancy is primarily about accounting, auditing and taxation. A chartered accountant is trained in various aspects of finance and accounting. A CA helps companies and individuals in tax planning and compliance. The course of chartered accountancy can be pursued in India only from the ICAI (the Institute of Chartered Accountants)
ICAI continues to keep the membership alive through yearly payment of prescribed fees. Associate member of the ICAI are entitled to use the prefix 'CA' to their name from 07-08-2009. Further, members who are in full-time practice, and have completed 5 years of practice, can add 'FCA' as a prefix to their names.
As of December 2013, ICAI had more than 200,000 registered members. It has three levels - CPT (Common Proficiency Test), IPCC (Integrated Professional Competence Course) and the CA Final Exam. On clearing the second level, one is required to serve 3 year training period as Article Clerk in an Auditing Firm, or under a senior auditor. After the final exams also there is one month communication training.
DIFFERENT STAGES IN CA
-CPT
-IPCC
-FINAL
The CPT or Common Proficiency Test is the first level of Chartered Accountancy examinations. A person can register for CPT after completing Grade 10 and take the exam after completing High School (Grade 12). It is an objective type examination and consists of 200 multiple choice questions. CPT covers four basic subjects divided into two sections viz. 1.Fundamentals of Accounting(60 Marks)+ Mercantile Laws(40 Marks) and 2.Economics(50 Marks)+ Quantitative Aptitude(50 Marks). Every incorrect answer on the CPT exam carries a 0.25 negative mark..A candidate is required to secure a minimum of 30 per cent marks in each Section and a minimum of 50 per cent marks in aggregate in all the four Sections to pass the Common Proficiency Test. CPT exams are held in June and December in paper pencil mode. On-line CPT exams are also conducted periodically. But with effect from 3rd Aug 2012 CPT is exempted for the Graduates, Post Graduates and the students having equivalent degrees. Commerce graduates with 55% and other graduates with 60% can take direct admission for IPCC.
IPCC
This is the seccond stage of the chartered accountancy curriculum wherein only working knowledge of core and allied subjects to accountancy profession is covered, while at the Final course, advanced application knowledge of core and allied subjects to accountancy profession has been intended to be inculcated. The unique feature of the entire theoretical education of the Chartered Accountancy curriculum is the supportive and complementary practical training. A student would undergo theoretical education and three years of practical training after compulsorily during the course of chartered accountancy. This balanced approach will help the students to appreciate the underlying practical applications of the theoretical education scheme.
In order to develop a strong theoretical base, students of Intermediate (IPC) Course, who have registered through CPT route or Intermediate level examination passed students of The Institute of Cost Accountants of India or The Institute of Company Secretaries of India, are required to undergo eight months study course before appearing for the first time in the Intermediate (IPC) Examination. Since proper understanding of the modern world necessitates knowledge of present day technology and skills, students are imparted 100 hours Information Technology Training (ITT) and have to undergo 35 hours Orientation Programme before joining for the practical training. It is to be noted that such students can join practical training practical training only after passing Group I/ Both Groups of Intermediate (IPC) course. Simply passing Group II of Intermediate (IPC) course is not sufficient.
Students who are Graduates/ Post Graduates in Commerce having secured in aggregate a minimum of 55% of the total or its equivalent by studying any three papers of 100 marks each out of Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing, Business Administration or Management Accounting or other than those falling under Commerce stream having secured in aggregate a minimum of 60% of the total marks or its equivalent grade in the examination conducted by any recognized University (including Open University) are eligible for straight away registration to Intermediate (IPC) course and undergo Orientation Course and ITT. They can register for practical training after completing Orientation Course and ITT and need not wait for clearing Intermediate (IPC) examination Group I/ Both Groups They are eligible to appear in the Intermediate (IPC) Examination after completion of nine months of practical training (including study course for a period of eight months which shall commence from the date of registration to the Course).
Students who are pursuing the Final year Graduation Course can also register for the Intermediate (Integrated Professional Competence) Course on provisional basis and such students, registration would be regularised and they can commence articled training only on submission of satisfactory proof of having passed the Graduation examination with the specified percentage of marks within six months from the date of appearance in the final year graduation examination. During the provisional registration period, a student can undergo and complete Information Technology Training (ITT) and Orientation Course. If such student fails to produce the proof within the aforesaid period, his provisional registration shall stand cancelled and the registration and other fees, as the case may be, paid by him shall not be refunded/ adjusted and no credit shall be given for the theoretical education undergone.
FINAL
CA Final Examination is the last and final level of Chartered Accountancy Examinations. Any person who has passed both the groups of IPCC, during the last six months of articleship can take the Final Examination. This exam consists of two groups of four papers each, for a total of eight papers.
After passing Group - I of IPCC or candidate through direct entry after completing U.G or P.G, a candidate must undergo a rigorous 3 year on-the-job training as article or audit assistant, articleship. Only members in practice are entitled to hire the student as an articled assistant.
List of colleges providing CA training course in India:
1. A.V.S. College of Arts & Science, (Tamil Nadu)
2. Aggarwal P.G. College, (Haryana)
3. Ahmednagar Jilha Maratha Vidya Prasarak Samaj’s New Arts, Commerce & Science College, (Maharashtra)
4. Asansol Branch of Eastern India Regional Council of the I.C.A.I., (West Bengal)
5. Aurora’s Degree College, (Andhra Pradesh)
6. B.N. Saha D.A.V. Public School, (Jharkhand)
7. Bal Bhavan Public Senior Secondary School, (Delhi)
8. Bhanuvijayji Universal Foundation’s Divine Child School, (Gujarat)
9. Bharata Mata College, (Kerala)
10. Bhavan’s Vivekananda College of Science, (Andhra Pradesh)
11. C.B. Bhandari Jain College, (Karnataka)
12. Canara College, (Karnataka)
13. Chikitsak Samuha’s S.S. & L.S. Patkar College of Arts &Science and V.P. Varde College of Commerce & Economics, (Maharashtra)
14. Chinmaya Vidyalaya , (Kerala)
15. Coimbatore Branch of S.I.R.C. of I.C.A.I., (Tamil Nadu)
16. College of Professional Education, (Uttar Pradesh)
17. Cuttack Branch of EIRC of ICAI, (Orissa)
18. D.A.V. College, (Chandigarh)
19. Deccan Education Society’s , (Maharashtra)
20. Delhi Branch of NIRC of ICAI, (Delhi)
21. Deshbhakt Ratnappa Kumbhar College of Commerce, (Maharashtra)
22. Eastern India Regional Council of ICAI, (West Bengal)
23. Farook College, (Kerala)
24. G.S. College of Commerce & Economics, (Madhya Pradesh)
25. Gargi College, (Delhi)
26. Goswami Ganesh Dutta Sanatan Dharam College, (Chandigarh)
27. H.A. College of Commerce, (Gujarat)
28. H.L. College of Commerce, (Gujarat)
29. Howrah Akshaya Sikshayatan, (West Bengal)
30. Hyderabad Branch of the SIRC of I.C.A.I., (Andhra Pradesh)
31. Institute of Professional Studies & Research, (Orissa)
32. Jagannath International Management School, (Delhi)
33. Jaipur Branch of C.I.R.C of the I.C.A.I, (Rajasthan)
34. Jamshedpur Branch of C.I.R.C. of the ICAI, (Jharkhand)
35. K.S. Rangasamy College of Arts & Science, (Tamil Nadu)
36. Karnataka Pre-University College, (Karnataka)
37. Kottayam Brnch of the S.I.R.C. of I.CA.I., (Kerala)
38. Kumararani Meena Muthiah College of Arts & Science, (Tamil Nadu)
39. Laxman Public School, (Delhi)
40. Loyola College, (Tamil Nadu)
41. Lucknow Branch of C.IR.C. of theICAI, (Uttar Pradesh)
42. Mahavir Institute of Educational Training and Management, (Delhi)
43. Mangalore Branch of SIRC of ICAI, (Karnataka)
44. Mar Ivanious College, (Kerala)
45. Mercy College Palakkad , (Kerala)
46. Modern Education Society’s College of Commerce, (Karnataka)
47. Mount Abu Sr.Sec.School, (Delhi)
48. Mumbai Branch of W.I.R.C of I.C.A.I, (Maharashtra)
49. Mysore Branch of SIRC of I.C.A.I., (Karnataka)
50. Oshwal Education Trust’s Shri G.H. Gosrani & Shri D.D. Nagda BBA College, (Gujarat).
Chartered accountancy or better known as CA is the ultimate goal almost every commerce student and rightly so as CA is one of highly paid jobs in the nation. The job of CA includes financial reporting, auditing, taxation and accountancy. Overall the aim of a CA is providing professional advice so as to increase the profits of the organization
Chartered accountancy is primarily about accounting, auditing and taxation. A chartered accountant is trained in various aspects of finance and accounting. A CA helps companies and individuals in tax planning and compliance. The course of chartered accountancy can be pursued in India only from the ICAI (the Institute of Chartered Accountants)
In India
In India, the profession of chartered accountancy is regulated by the Institute of Chartered Accountants of India which was established by an act of Parliament under the Chartered Accountants Act, 1949. Prior to 1949, Restricted State Auditors were registered with the respective princely states and British provincial State Governments. However, now, the Restricted State Auditors have become redundant.
ICAI continues to keep the membership alive through yearly payment of prescribed fees. Associate member of the ICAI are entitled to use the prefix 'CA' to their name from 07-08-2009. Further, members who are in full-time practice, and have completed 5 years of practice, can add 'FCA' as a prefix to their names. In India, the profession of chartered accountancy is regulated by the Institute of Chartered Accountants of India which was established by an act of Parliament under the Chartered Accountants Act, 1949. Prior to 1949, Restricted State Auditors were registered with the respective princely states and British provincial State Governments. However, now, the Restricted State Auditors have become redundant. As of December 2013, ICAI had more than 200,000 registered members. It has three levels - CPT (Common Proficiency Test), IPCC (Integrated Professional Competence Course) and the CA Final Exam. On clearing the second level, one is required to serve 3 year training period as Article Clerk in an Auditing Firm, or under a senior auditor. After the final exams also there is one month communication training.
DIFFERENT STAGES IN CA
-CPT
-IPCC
-FINAL
CPT
The CPT or Common Proficiency Test is the first level of Chartered Accountancy examinations. A person can register for CPT after completing Grade 10 and take the exam after completing High School (Grade 12). It is an objective type examination and consists of 200 multiple choice questions. CPT covers four basic subjects divided into two sections viz. 1.Fundamentals of Accounting(60 Marks)+ Mercantile Laws(40 Marks) and 2.Economics(50 Marks)+ Quantitative Aptitude(50 Marks). Every incorrect answer on the CPT exam carries a 0.25 negative mark..A candidate is required to secure a minimum of 30 per cent marks in each Section and a minimum of 50 per cent marks in aggregate in all the four Sections to pass the Common Proficiency Test. CPT exams are held in June and December in paper pencil mode. On-line CPT exams are also conducted periodically. But with effect from 3rd Aug 2012 CPT is exempted for the Graduates, Post Graduates and the students having equivalent degrees. Commerce graduates with 55% and other graduates with 60% can take direct admission for IPCC.
IPCC
In order to develop a strong theoretical base, students of Intermediate (IPC) Course, who have registered through CPT route or Intermediate level examination passed students of The Institute of Cost Accountants of India or The Institute of Company Secretaries of India, are required to undergo eight months study course before appearing for the first time in the Intermediate (IPC) Examination. Since proper understanding of the modern world necessitates knowledge of present day technology and skills, students are imparted 100 hours Information Technology Training (ITT) and have to undergo 35 hours Orientation Programme before joining for the practical training. It is to be noted that such students can join practical training practical training only after passing Group I/ Both Groups of Intermediate (IPC) course. Simply passing Group II of Intermediate (IPC) course is not sufficient.
Students who are Graduates/ Post Graduates in Commerce having secured in aggregate a minimum of 55% of the total or its equivalent by studying any three papers of 100 marks each out of Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing, Business Administration or Management Accounting or other than those falling under Commerce stream having secured in aggregate a minimum of 60% of the total marks or its equivalent grade in the examination conducted by any recognized University (including Open University) are eligible for straight away registration to Intermediate (IPC) course and undergo Orientation Course and ITT. They can register for practical training after completing Orientation Course and ITT and need not wait for clearing Intermediate (IPC) examination Group I/ Both Groups They are eligible to appear in the Intermediate (IPC) Examination after completion of nine months of practical training (including study course for a period of eight months which shall commence from the date of registration to the Course).
Students who are pursuing the Final year Graduation Course can also register for the Intermediate (Integrated Professional Competence) Course on provisional basis and such students, registration would be regularised and they can commence articled training only on submission of satisfactory proof of having passed the Graduation examination with the specified percentage of marks within six months from the date of appearance in the final year graduation examination. During the provisional registration period, a student can undergo and complete Information Technology Training (ITT) and Orientation Course. If such student fails to produce the proof within the aforesaid period, his provisional registration shall stand cancelled and the registration and other fees, as the case may be, paid by him shall not be refunded/ adjusted and no credit shall be given for the theoretical education undergone.
FINAL
Articled and industrial training
List of colleges providing CA training course in India:
1. A.V.S. College of Arts & Science, (Tamil Nadu)
2. Aggarwal P.G. College, (Haryana)
3. Ahmednagar Jilha Maratha Vidya Prasarak Samaj’s New Arts, Commerce & Science College, (Maharashtra)
4. Asansol Branch of Eastern India Regional Council of the I.C.A.I., (West Bengal)
5. Aurora’s Degree College, (Andhra Pradesh)
6. B.N. Saha D.A.V. Public School, (Jharkhand)
7. Bal Bhavan Public Senior Secondary School, (Delhi)
8. Bhanuvijayji Universal Foundation’s Divine Child School, (Gujarat)
9. Bharata Mata College, (Kerala)
10. Bhavan’s Vivekananda College of Science, (Andhra Pradesh)
11. C.B. Bhandari Jain College, (Karnataka)
12. Canara College, (Karnataka)
13. Chikitsak Samuha’s S.S. & L.S. Patkar College of Arts &Science and V.P. Varde College of Commerce & Economics, (Maharashtra)
14. Chinmaya Vidyalaya , (Kerala)
15. Coimbatore Branch of S.I.R.C. of I.C.A.I., (Tamil Nadu)
16. College of Professional Education, (Uttar Pradesh)
17. Cuttack Branch of EIRC of ICAI, (Orissa)
18. D.A.V. College, (Chandigarh)
19. Deccan Education Society’s , (Maharashtra)
20. Delhi Branch of NIRC of ICAI, (Delhi)
21. Deshbhakt Ratnappa Kumbhar College of Commerce, (Maharashtra)
22. Eastern India Regional Council of ICAI, (West Bengal)
23. Farook College, (Kerala)
24. G.S. College of Commerce & Economics, (Madhya Pradesh)
25. Gargi College, (Delhi)
26. Goswami Ganesh Dutta Sanatan Dharam College, (Chandigarh)
27. H.A. College of Commerce, (Gujarat)
28. H.L. College of Commerce, (Gujarat)
29. Howrah Akshaya Sikshayatan, (West Bengal)
30. Hyderabad Branch of the SIRC of I.C.A.I., (Andhra Pradesh)
31. Institute of Professional Studies & Research, (Orissa)
32. Jagannath International Management School, (Delhi)
33. Jaipur Branch of C.I.R.C of the I.C.A.I, (Rajasthan)
34. Jamshedpur Branch of C.I.R.C. of the ICAI, (Jharkhand)
35. K.S. Rangasamy College of Arts & Science, (Tamil Nadu)
36. Karnataka Pre-University College, (Karnataka)
37. Kottayam Brnch of the S.I.R.C. of I.CA.I., (Kerala)
38. Kumararani Meena Muthiah College of Arts & Science, (Tamil Nadu)
39. Laxman Public School, (Delhi)
40. Loyola College, (Tamil Nadu)
41. Lucknow Branch of C.IR.C. of theICAI, (Uttar Pradesh)
42. Mahavir Institute of Educational Training and Management, (Delhi)
43. Mangalore Branch of SIRC of ICAI, (Karnataka)
44. Mar Ivanious College, (Kerala)
45. Mercy College Palakkad , (Kerala)
46. Modern Education Society’s College of Commerce, (Karnataka)
47. Mount Abu Sr.Sec.School, (Delhi)
48. Mumbai Branch of W.I.R.C of I.C.A.I, (Maharashtra)
49. Mysore Branch of SIRC of I.C.A.I., (Karnataka)
50. Oshwal Education Trust’s Shri G.H. Gosrani & Shri D.D. Nagda BBA College, (Gujarat).
