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One of the most reputed courses among the commerce students is chartered accountancy. It is believed to be one of the hardest courses to complete. It needs lots of hard work, dedication, and passion. To become a chartered accountant one needs to cross 4 stages. It is a professional course that requires proper theoretical study as well as practical training. For taking admission in chartered accountancy course you have to get yourself registered with the Institute of Chartered Accountants of India (ICAI). For taking admission in the chartered accountancy course there is no upper age limit for clearing it but you need to have completed at least your 12th class with any stream, only if you are academically qualified for it.
The syllabus of chartered accountancy is very vast and needs a thorough study. You need to know everything about how to prepare and the efforts required for preparation. This is one of the cheapest professional courses that can make you reach the heights of finance, business, and accounting. This profession offers great job opportunities on a global level, with great salary packages, you can even go from the financial sector to the private businesses to public services. To become a chartered accountant, you need to clear 3 levels of examination the foundation, intermediate and final. Here are some tips to bring you one step closer and understand chartered accountancy more clearly:
Along with the three exams, 3 years of article ship that is practical training needs to be completed. The foundation course is also called the CA-Common Proficiency Test contains 4 paper under it which can be given straight after completing your 12th class If you are a graduate or post-graduate with 55% marks in commerce and 60% with any other stream, then you can skip this exam and can directly enroll yourself for the intermediate level of examination. To clear this exam approximately 4 months of preparation is required.
After clearing the Foundation exam you can enroll yourself for this level. After the declaration of the foundation result, approximately 9 months are left to prepare for the intermediate level which is enough for the preparation. 9 months’ article ship needs to be completed beforehand by the students who directly entered into the intermediate level. The intermediate level exam is conducted in two groups of four papers each.
Before starting the article ship the students need to undergo a four weeks ICITSS that basically consists of information technology and orientation course. This course has to be done after passing the foundation courses and needs to be completed before the article ship compulsorily.
After clearing any one or both the groups of intermediate courses and successfully undergoing the ICITSS you can start your article ship, whereas the direct entry students can start their article ship right after undergoing ICITSS and before appearing for any group of the intermediate exam.
This is the most difficult stage for the students as not everybody is able to clear it in one go. After clearing both the groups of the intermediate level and article ship you can appear for this exam. If you do not want to wait for the article ship to get over and then appear for the final, then you can undergo the Advanced Integrated Course on Information Technology and Soft Skills (ACCESS) and while serving the last six months of the article ship you can appear in your final. The final is also conducted in two groups of 4 papers each.
The chartered accountancy exams are offline exams and are conducted twice in a year in May and November. You can look at the detailed syllabus and get thorough with the exam pattern. Each level is different and requires different types of strategies at each level.
Stay updated with the ICAI modules as they update them from time to time. do not neglect the modules provided by the Institute of Chartered Accountants of India as it gives you a correct idea of how the questions are asked, what type of questions are asked, presentation demanded, and how to answer.
Even though the success rate of clearing the chartered accountancy course in one go is very low but if you want to make a decision to join this course then you should definitely do it as it is never too late you can start at whichever age you want. There are several institutes available is every city to guide you along with a very minimal fee for this professional course. After becoming a successful CA, you can earn up to 30,00,000 per annum, it all depends upon your hard work and experience. You can also run your own consultancy firm and earn money.