The Chartered Accountant profession is regarded as the indispensable vocation in the business landscape. It has already deepened its roots in businesses whether it is small or big. As a chartered accountant or CA, a candidate has to wear different hats as per the requirements and they have to be versatile. These experienced experts are responsible to supervise diverse functioning’s like the creation of financial strategies, accounting, taxation, auditing, and many more.
The job appears risky and complex but if you have exceptional skill sets and knowledge about the fundamentals, then this vocation can be fruitful for you. To make chartered accountancy your cup of tea you have to be on your toes to handle immense pressure. This evergreen profession comes with several exciting job prospects and its future is bright. In simplified terms chartered accountancy is the first step to gain other rewarding career options in the field of fund management, investment consultancy, and finance.
To fulfill the desire of CA seekers, the Institute of Chartered Accountants of India (ICAI) has created a well-crafted course that will focus on the basic and advanced topics of the CA. Over the last few years, chartered accountancy course has witnessed lots of modification in its curriculum or syllabus. Now ICAI is also revamping the syllabus and curriculum to meet the demand of the market at both national and international levels.
Expected Criteria To become Chartered Accountant
The expected qualification to opt Chartered Accountant profession is to complete 12th class from the recognizable board, after which the candidate is required to enroll themselves in ICAI CA course. Students who have completed the 12th class from the commerce stream are eligible to apply for the CPT course which stands for Common Proficiency Test. CPT test is considered as the starting phase in the vocation of Chartered Accountancy. Secondly, IPCC is referred to as the second most important phase which is the intermediate level. Last but not the least, the grand stage is CA final itself. Students from different 12th class domains like arts, commerce, or science stream have the option to register themselves for CPT.
Eligibility
1.After the 10th board examination, students can enroll for CPT. Although the enthusiasts are only permitted to appear in the CPT test after completing the 12th class from the recognized board.
2. Students from arts, science, or commerce backgrounds can access the CPT course with ease.
3. Later, after acing CPT examination, candidates can apply further for the ICAI examination as per their interest.
4. Cracking the CPT examination is the key to unlocking the pathways for applying or registering for Accounting Technician Course or ATC. Formerly registered students of IPCC have an option to register for ATC.
5. To meet the criteria, candidates are required to secure a minimum score of 100 out of 200 marks in CPT to enroll for IPCC which stands for Integrated Professional Competence Course.
6. To clear the IPCC, students have to attain 40 marks at least in each discipline to reach the aggregate percentile of 50% (it is a minimum percentage).
7. By chance some students fail to crack the course and plan to give examination again in future, these students can reappear in the examination but on one condition. The condition is that these aspirants have to attain at least 60 marks in any above-mentioned subjects.
8. After acing IPCC examination, candidates get a marvelous opportunity to do an internship of 3 years under a certified CA to gain hands-on experience in the field. Through this journey, the candidate grasps a new skill set like accountancy which is managed by a chartered accountant who holds several years of expertise.
9. After completing 2 years and 6 months of internship under a chartered accountant, an aspirant is eligible for attending CA final course examination.
10. After successfully clearing the CA final examination, the candidate’s name will appear in the All-India merit list through which a candidate will attain a designation of a chartered accountant working professional.
Futuristic Prospects In Chartered Accountancy In India
Chartered accountants can enjoy different career paths. Besides this chartered accountants can also begin with their firm as the sole owner. The annual salary package might depend on the chain, contacts, and links with clients and other professionals. Further, expertise is also taken into the consideration. Secondly, CA professional can also apply to the existing organization as a partner.
In terms to get a beneficial job position for the long run, CA experts can take up mega projects of the Indian Government or prominent firms like PSUs in their finance branch. If you select this career pathway then you can legitimately earn up to Rs 4- 8 lakhs annually as your starting package. But it depends on your professions, the firm in which you are working, roles, and responsibilities. If you are an experienced chartered accountant then you are eligible to generate around 3- 5 lakhs as yearly income at entry level in the private sector which is appealing. Further in if Multi-National Companies recruits CA then they might get hire lucrative in contrast to other professions.
