Chartered Accountancy course is one of the most reputed and highly sought-after certifications in India. This allows candidates to become Chartered Accountants certified by the Institute of Chartered Accountants of India (ICAI). CA are professionals with expertise in auditing, accounting, taxation and other finance-related works.
To become a Chartered Accountant, candidates are required to clear the CA exam which consists of three levels. Candidates have to start from the foundation level, followed by the intermediate and the final level at the last. Candidates must have passed class 12 to be eligible for the foundation course. Candidates with a bachelor’s or a master’s degree can directly apply for the intermediate level.
CA foundation level deals with the basics of accounting, business law and financial management. The scope after CA is diverse with roles in various industries. The average after Chartered Accountancy (CA) is INR 11.1 LPA with the highest salary being INR 16.9 LPA. The top recruiters of CA include Deloitte, KPMG, E&Y and PwC.
Table of Content
- Chartered Accountancy (CA): Highlights
- What is a Chartered Accountant (CA)?
- What is special about a CA degree?
- What are the Chartered Accountancy Courses?
- Guide on joining the CA course
- How can I become a Chartered Accountant in India?
- What do Chartered Accountants (CA) do?
- What strategy should be appointed to study for the CA exam?
- What do recruiters expect from a fresher CA?
- How hard is it to become a Chartered Accountant?
- What is the scope of CA?
- What is a CA salary?
- Chartered Accountancy (CA): FAQs
Chartered Accountancy (CA): Highlights
| Particulars | Details |
|---|---|
| Duration | 42 months |
| Conducting Body | Institute of Chartered Accountants of India (ICAI) |
| Eligibility | Foundation: Class 12 Intermediate: Foundation result or Direct Entry Final: Intermediate result |
| Average Salary | INR 11.1 LPA |
| Job Profiles | Chartered Accountants, Accounting Managers, Finance Managers, Auditing Experts, Tax Managers |
| Top Recruiters | Deloitte, KPMG, E&Y, PwC, Lodha & Co |
What is a Chartered Accountant (CA)?
Chartered Accountants are professionals recognised by the Institute of Chartered Accountants of India (ICAI). They provide financial and business services to a wide range of clients, businesses, organisations and government bodies. They ensure compliance and financial accuracy within the organisations they work.
To become a Chartered Accountant (CA), candidates are required to undergo rigorous education and pass the three levels of the CA exam. It is a highly reputable course equipping candidates with skills in auditing, accounting, taxation and more.
What is special about a CA degree?
A Chartered Accountancy (CA) degree signifies a high level of expertise in accounting and finance which is highly recognised. The qualification process is tough with comprehensive exams that have to be cleared. CAs are experts in a broad range of financial disciplines making them well-suited for various roles.
Their expertise helps clients with operational efficiency and financial management. They work by strict professional standards, ensuring transparency and efficiency in their practices.
What are the Chartered Accountancy Courses?
Chartered Accountancy (CA) courses are education programs that candidates appearing in the CA exam can consider. These courses are designed to help candidates understand different exam concepts and prepare efficiently. Some of these courses are prepared by industry experts to help candidates clear the exam. The top courses are listed below.
- Accounting Fundamentals by Northwestern University
- Accounting and Finance Level I Certificate by Oxford Home Study Centre
- Accounting Course Bundle by Wall Steet Mojo
- Certificate Course on Forensic Accounting and Fraud Detection by ICAI
- Power BI and Data Analytics by Trailhead
- Data Analytics Foundation for Accountancy I (Coursera)
Guide on joining the CA course
There are several steps that candidates are required to undergo along with strong preparation to join a CA course and become a Chartered Accountant. The general steps are listed below.
- Candidates should ensure that they meet the eligibility criteria mentioned by the ICAI. For the foundation course, it is generally class 12.
- Candidates should register with the ICAI for the foundation course and start preparation.
- After clearing the foundation exam, they can apply for the intermediate level.
- Before appearing for the intermediate exam, candidates are required to undergo articleship training for a specific period.
- Candidates should clear the intermediate exam and register for the final course.
- Candidates should appear in the final exam after sufficient preparation and clear it.
- Upon final exam completion, they have to undergo General Management and Communication Skills (GMCS) training.
- Once the GMCS training is complete, they can apply for the ICIA membership and become certified Chartered Accountants.
How can I become a Chartered Accountant in India?
To become a Chartered Accountant (CA), candidates are required to clear the CA exam conducted by the ICAI. The exam consists of three levels - foundation, intermediate and final. Candidates have to clear all the levels and an articleship training to become a CA in India.
Eligibility
For the foundation mode, candidates have to first enrol with the ICAI after class 12. They also have to complete 4 months of study period after registration. Another method is through the direct mode in which candidates can skip the foundation course. To be eligible for direct entry, candidates must have a bachelor’s/master’s degree in commerce stream with 55% marks.
Candidates from the non-commerce stream must have 60% marks in their bachelor’s/master’s degree. Candidates who have passed the intermediate-level exam of The Institute of Cost Accountants of India or The Institute of Company Secretaries of India. Students in their final year of degree can also apply.
CA Foundation
CA Foundation is the entry-level test for aspiring accountants in India and covers the basic concepts of accounting and law. It tests candidates’ knowledge in four subjects - Accounting, Business Law, Business Correspondence and Reporting and Business Mathematics. Candidates can appear for it after completing class 12. Successful candidates can move on to the intermediate level.
The exam will be of 100 marks with a negative marking (-0.25) for wrong answers. The exam dates for the CA Foundation are mentioned in the table below.
| Paper | Exam Date | Timing | Duration |
|---|---|---|---|
| Paper I (Accounting) | June 20, 2024 | 2 pm to 5 pm | 3 hours |
| Paper II (Business Law) | June 22, 2024 | 2 pm to 5 pm | 3 hours |
| Paper III (Business Correspondence and Reporting) | June 26, 2024 | 2 pm to 4 pm | 2 hours |
| Paper IV (Business Mathematics) | June 28, 2024 | 2 pm to 4 pm | 2 hours |
CA Intermediate
CA Intermediate is the second level of Chartered Accountancy course. It is divided into 2 groups consisting of 4 subjects in each. Candidates with a CA Foundation scorecard or an eligible degree can appear in the intermediate examination.
CA Intermediate exams will be 3 hours long with no negative markings. The following table highlights the groups along with their subjects and exam dates.
| Group | Subject | Exam Date | Timing |
|---|---|---|---|
| Group I | Advanced Accounting | May 3, 2024 | 2 pm to 5 pm |
| Corporate Laws | May 5, 2024 | 2 pm to 5 pm | |
| Cost and Management Accounting | May 9, 2024 | 2 pm to 5 pm | |
| Group II | Taxation | May 11, 2024 | 2 pm to 5 pm |
| Auditing and Code Ethics | May 15, 2024 | 2 pm to 5 pm | |
| Financial and Strategic Management | May 17, 2024 | 2 pm to 5 pm |
CA Final
It is the last and most advanced level of the CA course. It consists of 2 groups covering different topics. Along with the CA Intermediate result, candidates are also required to undergo an advanced integrated course to be eligible for the CA final exam.
The following table highlights the CA Final groups along with their subjects and exam dates.
| Group | Subject | Exam Date | Timing |
|---|---|---|---|
| Group I | Paper I (Financial Reporting) | May 2, 2024 | 2 pm to 5 pm |
| Paper II (Strategic Financial Management) | May 4, 2024 | 2 pm to 5 pm | |
| Paper III (Advanced Auditing and Professional Ethics) | May 8, 2024 | 2 pm to 5 pm | |
| Group II | Paper IV (Corporate and Economic Laws) | May 10, 2024 | 2 pm to 5 pm |
| Paper V (Strategic Cost Management and Performance Evaluation) | May 14, 2024 | 2 pm to 6 pm | |
| Paper VI (Elective) | May 16, 2024 | 2 pm to 5 pm |
What do Chartered Accountants (CA) do?
Chartered Accountants (CA) are professionals in the field of accounting and finance. They are licensed by the ICAI in India to perform their roles. Some of their common responsibilities include.
- Auditing financial statements.
- Preparing balance sheets and income statements.
- Filing income tax returns on behalf of the client or an organisation.
- Ensure that their organisation complies with laws and regulations.
- Analyse financial reports to recommend strategies.
- Review budgets, investments and other finances.
What strategy should be appointed to study for the CA exam?
Preparing for the CA exam can be tedious and time-consuming. Candidates should design a study plan and stick to it for efficient management of time and efficient CA preparation. Some of the top strategies that CA aspirants can utilise are as follows.
- Understand basics and then move on to advanced concepts.
- Start early so that adequate time can be allocated to every topic.
- If required, join a CA coaching institute.
- Identify achievable goals and finish them first.
- Understand the syllabus and exam pattern thoroughly.
- Revise the concepts regularly.
What do recruiters expect from a fresher CA?
Recruiters generally have certain expectations when it comes to hiring or interviewing a fresher CA. Technical competency, analytical skills, attention to detail, ethical standards and professionalism are some of the top criteria upon which a fresher CA can be judged.
CA interview process generally consists of three rounds - HR, Technical and Partner. Technical round is the most important and candidates should prepare for it by going through the basics thoroughly.
How hard is it to become a Chartered Accountant?
The difficulty level of becoming a Chartered Accountant depends on how well a candidate can handle the CA exam. It is a rigorous process and candidates are required to demonstrate not only their academic knowledge but also time management skills.
Most candidates find the CA exam challenging but with dedicated study and culminating technical knowledge, it can be cleared. The exam is known for its complexity but with perseverance and continued high academic standards, candidates can excel in it.
What is the scope of CA?
Chartered Accountancy being a highly valued course has a diverse scope in India. There are extensive opportunities in both the government and private sectors for CAs. They are valued professionals who are sought after for their skills in accounting, financial management and compliance. With experience, they can also move on to higher roles with much better pay. Opportunities also exist in consulting or as private practitioners offering accounting services. Overall, the scope of CA is promising with the profession evolving and offering specialisations in areas like forensics, international taxation and more.
What is a CA salary?
The average annual salary of a Chartered Accountant in India is INR 11.1 LPA. During the initial days, they can earn around INR 2 LPA but with experience and added skills, they can earn up to INR 16.9 LPA. The average monthly salary for a Chartered Accountant in India ranges between INR 52,441 to INR 53,744.
The pay range for a Chartered Accountant during different CA exam levels is mentioned in the table below. It can vary based on the organisation, location, skills, experience and more.
| CA Stage | Average Salary (INR) |
|---|---|
| Foundation | 1.80 LPA |
| Intermediate | 2 - 6 LPA |
| Final (0 - 3 years) | 5 - 12 LPA |
| Final (5 - 10 years) | 10 - 30 LPA |
| Final (10 - 20 years) | 30 LPA - 1 CPA |
Who are the top recruiters of Chartered Accountants?
Chartered Accountants are hired by different companies for a variety of roles related to accounting and finance. Their expertise is valued across different sectors and is highly sought after. Some of the top recruiters of Chartered Accountants are mentioned below.
| Deloitte | KPMG | E&Y |
| PwC | Lodha & Co | ICICI Bank |
| Accenture | TCS | BDO India |
Chartered Accountancy (CA): FAQs
Ques. CA vs CS, what should I choose?
Ans. CA and CS are completely different fields and choosing one solely depends on the candidates’ interests and career goals. For candidates with an interest in accounting, finance, auditing and other related topics, CA will be a good choice. On the other hand, CS deals with programming, software development, technology and related terms.
Ques. How can I locate Chartered Accountancy firms near me?
Ans. Online directories or maps are the best your to locate nearby chartered accountancy firms. Candidates can also check ICAI's official website which may have contacts of registered CA firms. Additionally, networking can also help in finding the right CA firm.
Ques. Is it worth trying the CA exam again when you have failed many times?
Ans. Deciding to reappear in the CA exam after multiple failures depends on the candidate's determination and preparation. If they are very confident that they will surely clear the exam, then they should move forward with it. They should assess the weak points and do additional preparation ensuring the selection. It should be a well-informed decision to take.
Ques. What services are offered by a CA?
Ans. Chartered Accountants offer a wide range of services. Some of the top services are listed below.
- Auditing
- Taxation
- Financial Accounting
- Consulting
- Risk Management
Ques. What are the best courses to opt for further studies after chartered accountancy?
Ans. There are many courses that candidates can explore after chartered accountancy. Further education enhances their skills and improves career prospects leading to better pay. Some of the top courses that can be considered are.
- Certified Financial Analyst (CFA)
- Financial Risk Manager (FRM)
- MBA
- Certified Public Accountant (CPA)
- Company Secretary (CS)
Ques. What are the advantages of doing an MBA after CA?
Ans. Pursuing an MBA after a CA can be beneficial as it improves business perspective and opens opportunities for diverse career roles. Some of the top advantages are as follows.
- Broader skill set
- Networking opportunities
- Leadership and management skills
- Improved career prospects
- Versatility
Ques. Can an architect pursue CA?
Ans. Yes, an architect can pursue CA. As both fields are unrelated, the transition may require a significant amount of work and practice. With the architect degree, a candidate can bypass the foundation course and directly start with the intermediate one. Pursuing CA can be helpful and opens up potential career opportunities.
Ques. What to study to become a CA?
Ans. To become a CA, candidates are required to appear in the three levels of the CA exam. Questions are related to taxation, auditing, accounting, financial management and other related topics. The difficulty increases from foundation to intermediate to advanced in the final exam. Candidates should prepare well for the topics and their applications to excel in the exam.
Ques. What is the difference between a CA and an Accountant?
Ans. The main difference between a CA and an Accountant is in the qualification. CA are certified by the ICIA and are authorised to offer accounting and financial services. Accountants are professionals with a degree in accounting or a related discipline. They lack the authority and expertise as that of a CA.
Ques. Is a Chartered Accountancy degree worth it?
Ans. A Chartered Accountant (CA) degree is a highly beneficial and reputed certification and is valued for many reasons. Degree holders are experts in the fields of taxation, auditing, accounting and more because of the comprehensive curriculum. There are diverse roles in which CAs can work or even start their own practice. Due to specialised knowledge, CAs can also command higher salaries.
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