CHARTERED ACCOUNTANCY
Introduction to the Career
With the rapid growth in Indian economy, careers in the field of finance and accounts have grown tremendously while the most prestigious career option in this field being the Chartered Accountancy course. Chartered Accountancy is the most dynamic and challenging career option. Different countries consist of their own respective Accountancy Association which regulates the quality and quantity of the professionals in this particular field. In the year of 1949, Chartered Accountancy Course was introduced as a professional course in Accounting, along with the enactment of the Chartered Accountants Act. The Institute of Chartered Accountants of India (ICAI) was also formed in the year of 1949. The CA course involves both the theoretical education and practical training which is carried on for a period of three years and equips a student with knowledge, ability, skills and other qualities required of a professional accountant.
Eligibility
Chartered Accountant (CA) course is one of the most professional courses in India. Any student who has passed 10+2 from a recognized institute can register for the course. However students with a background in mathematics in Intermediate Education would have an added advantage. Commerce graduates with 50% marks, for the students doing non-commerce graduation with subjects other than Mathematics with an aggregate of 55% marks and non-commerce graduates with Maths with an aggregate of 60% marks are exempted from the Common Proficiency Test (CPT) and are permitted to register for Integrated Professional Competence Course (IPCC).
Levels involved in the course
CA programme involves three levels, most importantly the Common Proficiency Test (CPT):
- Integrated Professional Competence Course (IPCC) and Final Course.
- The registration for CPT and IPCC is kept open throughout the year. A student may register at any time during the year. However these examinations are held twice a year in June and December, it is necessary that a student must register at least ten months before the examinations for the IPCC. After completing and passing the Integrated Professional Competence Course (IPCC) successfully the candidates are eligible for registration as articled clerks/ audit clerks for practical training. Articled clerk serves as the trainee attached to a practicing chartered accountant under a Deed of Articles for almost three years. During this period the articled clerk should continue studies for the CA exam.
- The scope for Chartered Accountancy which is a lucrative career is bright in an economically developing nation like ours as it would be challenging and rewarding for competent professionals in the field.
Institutions offering it in India
Chartered Accountancy Institutions in India |
Opportunities
Many multinational companies have come forward in hiring Chartered Accountants. Birla Sun-Life, Tata AIF Life, Reliance ICICI Prudential, Om Kotak Mahindra, HDFC Standard Life-Chartered Accountancy Co., Max New York Life, SBI Life Chartered Accountancy, ING Vysya Life, etc., are the top most companies in the private sector. There are various Government organizations which hire Chartered Accountants for their financial support system. With the growing globalization and privatizations most the students these days take up Post Graduation with Professional Chartered Accountancy Course.