C.A (Chartered Accountant)
What is it?
Chartered Accountancy is a dynamic, challenging and rewarding profession. . Chartered Accountancy Course is a professional course in Accounting introduced in our country in 1949, with the enactment of the Chartered Accountants Act. The Institute of Chartered Accountants of India (ICAI) is both an examining and a licensing body. The course involves a blend of theoretical education and practical training which run concurrently for a period of three years and equips a student with knowledge, ability, skills and other qualities required of a professional accountant.
All the countries have their own Accountancy Association which regulates the quality and quantity of the professionals in this field.
A Chartered accountant is one who is specialised in accounting, auditing and taxation.
CA programme has three sections, Common Proficiency Test (CPT); Integrated Professional Competence Course (IPCC) and Final Course.
The registration for CPT and IPCC is open throughout the year. A student may register at any time during the year. However, as the examinations will be held twice a year in May and November, it is necessary that a student must register at least ten months before the examinations. After passing the Integrated Professional Competence Course (IPCC) candidates are eligible for registration as articled clerks/ audit clerks for practical training.
Computer Training Programme, ie 100 hours Information Technology is compulsory for the candidates who wish to register themselves as auditor clerk. Students can undergo this programme while pursuing CPT or IPCC.
Eligibility and Admission process:
A Candidate who has passed the 10th examination conducted by an examining body constituted by law in India (or an examination recognized by the Central Government as equivalent thereto) can register for the Common Proficiency Test (CPT) of the CA programme. But they can write the examination only after passing the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results.
Commerce graduates with 50% marks, non-commerce graduates 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).
Candidates who have passed the Final Examination conducted by the Institute of Cost & Works Accountants of India (ICWAI) or the Institute of Company Secretaries of India (ICSI) can register for Professional Competency Course.
After passing Integrated Professional Competence Course, the candidates can register as Articled clerks for practical training and for admission to the Final course of the Chartered Accountant.
Job Prospects & Career Options
All the companies registered under the Companies Act, are required to get their accounts audited only by practicing Chartered Accountants. A qualified Chartered Accountant has the option of joining the Government Service, Public Sector undertakings or taking up a lucrative assignment in the private sector.
Chartered accountants work as Finance Managers, Financial Controllers, Financial Advisors or Directors (Finance) and watch over the finances in the day to day management of companies. Their main areas of work include Accountancy, Auditing, Cost accountancy, Taxation, Investigation and Consultancy.
Some of the opportunities available for Chartered Accountants are in capital markets, business houses and industry. They can also have their own consultancy or private practice which could be more lucrative and satisfying. With the country liberalizing its policies and approach, opportunities are expected to grow further.
They are also well placed in government sector as director finance, chief executive or the Head Of the Department of the accounts, information technology etc. They help the government for proper implementation of accounting system.
Other career option
After passing the CA examination one could go for management Accountancy course; courses like Diploma in Insurance and Diploma in Information System Auditing.