Rohit Dubey

I am a 12th Standard student and I want to be a CA. Can you please explain me the nature of the CA Exam and a day in a life of CA?


by Rohit Dubey
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RE: I am a 12th Standard student and I want to be a CA. Can you please explain me the nature of the CA Exam and a day in a life of CA?

Surabhi Dewra
Surabhi Dewra
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Chartered Accountancy course is one of the toughest course in this world. To clear this examination one requires proper determination, dedication and patience. As this examination is toughest among all the other examination, therefore, its conversion Ratio i.e. Aspirants to Successful Candidate ratio is also very low. It is considered as one of the rigorous professional courses in India but not difficult if one put his fullest efforts.

After becoming CA life is beautiful and worth admiring. They are not only well-paid but also respected and in demand. CA has the liability to create his goodwill and also have to strive to maintain and upgrade the same. He has to constantly upgrade knowledge base and skills to maintain its position in the market. A CA never has an average day to count, every day is a new challenge and is interesting.

A day in the life of C.A is hectic as well as precious because he has to struggle a lot for earning as well as for creating his goodwill. He has to reach his office and after that making plan for full day working schedule, done a meeting with a client and discuss the significant tax savings they can gain from trading and also present them with a schedule documenting the tax saving. He had arranged a meeting for attracting new clients to gain business relations. He also tries to done meeting with new clients to increase his business.  He has to carry ethical law based and knowledge based practice in current business environment. The power of attention is always on stake for CA, to remain loyal for Client as well as for Government because one give fees and second one give power. A client has to be entertained who needs help planning the level of dividends and take from the company without breaching his high rate tax bands and discuss with him his financial growth forecast. Some C.A’s who are practicing in taxation and laws also presents their client in the court of law in which they defend their client.in his daily task he will take up concurrent audit of banks in which he has to conduct an audit of daily activities carried out in the bank. He also undertakes various another audit as well as taxation jobs. Some C.A’s also undertakes work of Income tax returns filing as well as tax preparers in their normal working days.

C.A’s have a very struggling life as he has to struggle during all his life because there is new concepts and laws come into force with the growing mechanism.

Roles and Duties of a CA are as mentioned below:

 

Chartered Accountant is one of the most renowned career options for Commerce field students. Basically, CA works in the field of accounting in various domains like the public, Management as well as Government Owned. The role and responsibility vary specifically with positions and Organisation but the basic duties are as follows:

 

  1. To prepare Financial Reports and Documents within the Organization
  2. To maintain records for Investments made by the Organization
  3. To take financial decision to ensure best Financial potential within the existing Market.

This career option is one of the Major for Commerce Students but it requires dedication to become a CA. if this career fascinates you, start preparing now and look forward to achieving your Destination. Still confused, contact us we are here to help. 

Chartered Accountant is one of the renowned job profile in the field of accountancy. Chartered Accountants are extraordinary people wherever they work, they make changes. They are talented as well as ambitious so they are in demand too. So if you are looking for great business career prospects, respect and financial rewards then becoming a CA is a good start. The Institute of Chartered Accountants of India (ICAI) regulates the Chartered Accountancy course and Profession in India. A candidate interested in CA course either get registered in Head office (New Delhi) or in any Regional offices across the country. So now we are going to discuss Chartered Accountant exams, essential qualifications, and other prospects. Any 10th passed, 12th passed or equivalent and Graduate students in any stream can register for CA course.

CA course comprises 4 levels:

  1. CPT - Common Proficiency Test
  2. IPCC/IPCE - Integrated Professional Competence Course
  3. Training under a Practicing CA/ Three-year Articleship
  4. CA Final

For 10th passed Students: 

A candidate can register for CPT (Common Proficiency Test) with the board of studies. After passing 10th examination a candidate has to enroll with Institute of Chartered Accountant of India (ICAI) for Common Proficiency Course (CPC).

For 12th passed/ Equivalent Students:

After completing 10+2 candidate have to appear for qualify for Common Proficiency Test (CPT). CPT exam is held throughout twice in a year in the month of June/ December. In the CPT exam, 35 candidates are passed out of 100 candidates. Once candidate cleared CPT exam, is eligible to register for Integrated Professional Competence Course (IPCC) duration of 9 months. After the duration of 9-month course candidate would be eligible for IPCC exams. IPCC exams to be commenced on twice in a year in the month of May and November.

Before starting 3-year Articleship training candidates have to complete the 100 hours Information Technology Training course (ITT) and 35-hour Orientation Course after qualifying IPCC exam. Out of every 100 candidates who appears for IPCC exam only approx 10% candidates cleared the exam. Candidates have to register as an Articleship Assistant for a period of three years under practicing CA. During last 6 months of 3 years, training program candidates have to appear for CA Final exams. CA Final exams are held twice in a year in the month of May and November. On clearing the CA Final exams candidates have to complete 15 days General Management and Communication Skills training; GMCS-I and GMCS-II. Only 5% candidates are able to clear both training course in 1st attempt out of 100 candidates.

After successful completion of the training course candidates are awarded by CHARTERED ACCOUNTANCY Degree by Institute of Chartered Accountants of India (ICAI).

For Graduate Students:

Candidates who want to register for The CA course after graduation are exempted from CPT exams and can directly start their Articleship program and register for IPCC exams. The minimum percentage required for graduate candidates in the graduation exam are 60% and for the candidates having Commerce as a  subject, are required 55%. Rest the steps are same as mentioned above.

CA Course Syllabus:

We can divide the whole syllabus into four steps:

Step-1: Common Proficiency Test (CPT) - Contains only one paper with 2 sessions.

Session- I

  • Section A: Fundamentals of Accounting
  • Section B: Mercantile Laws

Session- I

  • Section C: General Economics
  • Section D: Quantitative Aptitude

Step-2: Integrated Professional Competence Course (IPCC)

Group-1

 

  • Paper-1: Accounting
  • Paper-2: Business Laws, Ethics and Communication
  • Paper-3: Cost Accounting & Financial management
  • Paper-4: Taxation

Group-2

  • Paper-5: Advanced accounting
  • Paper-6: Auditing and Assurance
  • Paper-7: IT and Strategic Management

Step-3: Training Course

  • Paper-1: Accounting
  • Paper-2: Business Laws, Ethics & Communication
  • Paper-3: Cost Accounting & Financial management
  • Paper-4: Taxation

Step 4: CA Final

  • Paper-1: Financial Reporting
  • Paper-2: Strategic and Financial Management
  • Paper-3: Advanced Auditing & Professional Ethics
  • Paper-4: Corporate Allied Laws and Ethics
  • Paper-5: Advanced Management Accounting & IT
  • Paper-6: Information Systems Control and Audit
  • Paper-7: Direct Tax Laws
  • Paper-8: Indirect Tax laws

Important Notes:

  • There is no maximum duration for CA course.
  • Minimum duration of CA course for 10+2 passed students is 4.5 years
  • Minimum duration of CA course for graduate students is 3 years
  • Do regularly check the website for latest updates.

For further queries and related information, you can approach the Professional Experts at CareerGuide. Hope this will help you!

RE: I am a 12th Standard student and I want to be a CA. Can you please explain me the nature of the CA Exam and a day in a life of CA?

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