CA or Chartered Accountancy course is a 3 to 5 years of professional accounting and finance certification with three years of mandatory articled training period which makes one an audit specialist or expert in financial recommendations. CA Course is a very popular choice among Commerce students in India and almost 1,03,517 aspirants had appeared for CA Foundation June 2023 exam session out of which only 25,860 students cleared the exam. Administered by the Institute of Chartered Accountants of India (ICAI), the CA course comprises three levels: Foundation, Intermediate, and Final. You must study for each level and pass the exams for all the three levels to become a certified Chartered Accountant in India. The choice to take the course proves a very good one because on completion there are so many different careers that graduates can pursue within various fields involving finance and accounting. The CA syllabus includes important CA Subjects like accounting, auditing, taxation, financial management and professional ethics among others.
Chartered Accountant course can also help you gain knowledge and know-how in fields such as practicing public affairs, corporate finance jobs, consulting among others. After completing Chartered Accountancy course, people can take up various CA jobs like becoming an auditor, financial analyst, tax advisor or even work in corporate finance.
CA (Chartered Accountancy) course duration is 3 years (for graduates/ postgraduates) to 4.5 – 5 years (for 12th passed candidates), and it is mostly opted by Commerce/ Finance students who aspire to become Chartered Accountants and begin work as experts in the area of accounting, finance, and auditing. CA Foundation exam is the first step to CA course admission in India.
CA Course Highlights
The CA highlights section will provide you with an overview of important aspects related to the chartered accountancy course like duration, course fee, top recruiters, etc.
| Course Name | CA Course OR Chartered Accountancy |
|---|---|
| Course Type | Part-time |
| CA Full-Form | Chartered Accountancy |
| CA Course Duration |
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| Age Limit | No minimum or maximum age limit is set by ICAI to pursue the CA course. |
| CA Eligibility Criteria | For Foundation Route
To be eligible to take the CA Foundation exam, a candidate must have completed their four months of required study time after registering as a CA and have passed the class 12 exam. For Direct Entry Route Following candidates can take direct admission to the CA Intermediate level:
|
| CA Course Fees |
|
| Average Annual Salary | INR 5 LPA – INR 20 LPA |
| Employment Roles | Accountant, Financial Manager, Banker, Taxation Consultant, Consultant and more |
What is the ICAI CA Exam?
The ICAI CA Exam, also called the Chartered Accountant exam, is one of the toughest accountancy exams that the Institute of Chartered Accountants of India conducts. The exam make people into qualified Chartered Accountants. First is the CA Foundation Exam; after this comes Intermediate and Final exams. Successfully finishing all the three-level exams of the CA course and doing hands-on article ship training provides you with the knowledge and trustworthiness needed to do very well in different areas of finance and accounting alone with lucrative salary offers from across the globe.
Chartered Accountancy Course Eligibility Criteria
Chartered Accountancy course’s initial step is registration. Candidates must first be eligible before submitting the registration form. Check the CA course eligibility criteria for each level of the programme:
CA Foundation
To be eligible to sit the CA Foundation exam, the student must have earned at least a 50% grade in the Commerce stream of their class 12 or at least a 55% grade in the Science stream. However, candidates will only be able to give the CA Foundation exam only after registering with the Board of Studies and mandatorily studying for four months. Also, candidates are eligible to register for CA Foundation course after passing class 10th from a recognized school board in India or equivalent exam as recognized by the Central Government of India.
CA Intermediate
The CA Foundation route and the direct entry route are the two ways that students can sign up for CA Intermediate level. The eligibility criteria for CA Intermediate course for both the routes is as follows:
- Candidates must pass the CA Foundation exam with a minimum of 40% in each subject and a minimum overall score of 50% to qualify for the CA Intermediate level.
- Commerce graduates must receive 55% overall marks in their graduation or post graduation OR Non-Commerce graduates must receive an overall score of 60% or above to directly apply for the CA Intermediate course level.
- Apart from the above, candidates who have cleared the ICWAI/ ICSI Intermediate level are also eligible to directly apply for the CA Intermediate level.
CA Final
To enroll in the CA Final course, candidates must have passed both groups of the CA Intermediate exam with 40% in each subject and overall 50% at the Intermediate level of the course. Candidates must also have completed at least 2-2.5 years of article ship training during their CA Intermediate course.
Skills Required To Become CA
To be a Chartered Accountant, it is necessary to grow various skills that make you good in accounting and finance. Some important abilities for this profession include:
Analytical abilities are important for Chartered Accountants. They must examine complicated financial information, spot patterns, and make sense of it all. Having good analytical skills is essential to make decisions and solve problems.
Understanding and being at ease with numbers and math ideas is very important. Chartered Accountants frequently work on financial reports, budget plans, and figuring out taxes; therefore, being good with numbers is necessary.
Attention to detail is very important in accounting. Chartered Accountants need to be very careful and precise when they are looking mat the details so that all the financial information is correct and follows the rules.
CAs have ae strong obligation to ethical principles. It is important for you to show truthfulness, moral upri ghtness, and dedication to ethical behavior in the reporting of finances and making decisions.
Communication abilities are important, including the skill to write and speak well. CAs must be able to describe financial details to people they work with or their clients, and sometimes they have the task of sharing results or advice.
Problem-solving skills: Chartered Accountants often face complicated monetary problems and rules that are tough to follow. It is very important for them to recognize these issues and come up with effective solutions to do well in their job.
Managing time is important for handling many projects and their deadlines, which are often part of the work. It’s necessary to manage time well to make sure reports and documents are submitted on time.
Teamwork and Collaboration: CAs usually work in a group, like within an accounting company, a business or when they give advice. It is important to be good at working together for the team to succeed.
New rules and technological advancements frequently induce changes in the accounting and finance sector. In response, Chartered Accountants must incessantly pursue knowledge about contemporary standards in accounting; simultaneously, they need to cultivate proficiency with emerging tools.
Chartered Accountants must possess technical skills: mastering the use of accounting software and financial instruments is imperative. Efficient utilization of these tools facilitates data analysis, fosters the creation of robust financial models–and enables rigorous audit processes.
As you advance in your career, the necessity for leadership skills heightens – particularly if you hold a managerial or advisory role within an organization.
Chartered Accountants (CAs), often necessitating the search for information regarding tax rules, financial regulations and field-specific methodologies, can significantly benefit from adeptness in profound research.
Risk Assessment involves examining financial dangers and suggesting ways to lessen those risks. It is important for Chartered Accountants to identify and control these risks well.
In public accounting or advisory work, it is very important to create and keep good relationships with your clients for achieving success.
The accounting area is always changing. People who are Chartered Accountants need to keep learning about their profession to be current with the changes in industry patterns and rules.
By improving these skills and finishing all the study and tests in the CA program, you get ready for a good job as a Chartered Accountant.
Career Options After CA
When one completes CA in India, they will have an array of professions to choose from, including auditing, taxation, financial management, and corporate finances. Your job placement may be in a public accounting firms, a multinational corporation, as well as in government agencies or an independent practitioner.
Besides being a CA in India, you can get CS credentials which broadens your career paths. Internationally, people have high regards for CA hence it becomes possible for you to work in these global organizations particularly in the UK, USA, Canada and Australia. Over there, you can look for the place where you can do such tasks like financial management, international taxation, or investment analysis, etc.
CA Salary
Here is a table showing approximate salary ranges for Chartered Accountants (CAs) in India across various job profiles:
| Job Profiles | Average Salary Range (per annum in Rs.) |
|---|---|
| Fresh CA (Entry Level) | 6,00,000 – 9,00,000 |
| CA in Mid-Level Position | 10,00,000 – 20,00,000 |
| Financial Analyst | 6,00,000 – 12,00,000 |
| Tax Consultant/Tax Manager | 8,00,000 – 18,00,000 |
| Audit Manager | 10,00,000 – 20,00,000 |
| Finance Manager | 12,00,000 – 25,00,000 |
| Chief Financial Officer (CFO) | 20,00,000 – 50,00,000+ |
CA Jobs
Chartered Accountants in India can have a good choice of work field from many sectors:
Audit and Assurance: Approved Accountants can work in audit companies or as company’s internal auditors, objecting financial statements, establishing financial controls, and making sure that regulations are followed.
Taxation: CAs usually concentrate in the field of tax, they may work at companies or as freelance consultants, preparing tax planning, making tax returns and maintaining tax laws.
Financial Management: CAs carry out vital functions such as financial management in organizations by supervising the budgets, planning, and making financial and strategic decisions.
Consulting: CAs become consultants for businesses supplying them with consultancy services on their financial strategies, risks, mergers and acquisitions, and regulatory compliance.
Corporate Finance: They could be employed in financial departments of corporates, for example, facing investment issues which requires gathering information, assessment of data and devising financial strategies for growth and expansion.
Risk Management: A chartered accountant can be hired for risk management, where they evaluate the initial financial risk and give the solutions which raise them to a lower rate.
Government Jobs: A huge number of graduates can contribute to the government through a variety of departments including that of a regulator, revenue agency and the public sector.
Academia and Training: While some CAs are interested in becoming the teachers in universities or part of professional organizations that provide development in accountancy, finance and related subjects.
Entrepreneurship: Lot of Chartered Accountants are turned to be entrepreneurs in accounting, consulting or financial advisory services sectors and offer services bespoke to a host different clients.
Nonprofit and NGO Sector: Chartered accountants can also work specifically in NGOs, which are responsible for all financial issues, reporting information, and accounting.
CA Recruiters
Here are some examples of big companies and organizations that regularly hire Chartered Accountants (CAs) in India and abroad:
India:
Big Four Accounting Firms: Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), KPMG.
Financial Institutions: State Bank of India, ICICI Bank, HDFC Bank, Axis Bank.
Consulting Firms: McKinsey & Company, Boston Consulting Group (BCG), Bain & Company.
Corporate Sector: Tata Group, Reliance Industries, Aditya Birla Group, Larsen & Toubro.
IT Companies: Infosys, TCS (Tata Consultancy Services), Wipro.
Government Bodies: Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Income Tax Department.
Abroad:
Big Four Accounting Firms: Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), KPMG (Global offices).
Multinational Corporations (MNCs): Apple, Microsoft, Google, Amazon.
Investment Banks: Goldman Sachs, J.P. Morgan, Morgan Stanley.
Consulting Firms: McKinsey & Company, BCG, Accenture.
International Organizations: United Nations (UN), World Bank, International Monetary Fund (IMF).
Financial Institutions: HSBC, Barclays, Deutsche Bank, Citibank.
These companies and organizations typically seek CAs for various roles in auditing, financial management, taxation, advisory services, and other specialized financial functions both in India and across the globe.