Are you considering pursuing Chartered Accountancy (CA) after the 12th? If yes, then this blog post is for you! It will provide you with all the necessary information about pursuing CA, such as the eligibility criteria, the course structure, the important exams, and the job opportunities. Keep reading to learn more about becoming a CA after the 12th.
Course Details
If you are looking to pursue CA course details after the 12th, then you must know that Chartered Accountancy (CA) is one of the most sought-after professional courses in India. It is a course that requires immense dedication and hard work. The course involves gaining expertise in the field of accounting, auditing, and taxation.
To become a successful Chartered Accountant, you need to have a clear understanding of financial statements and the various accounting principles.
The course duration spans over three years, and the student must pass three levels of exams conducted by the Institute of Chartered Accountants of India (ICAI). The three levels are:
1. The Foundation Course
2. The Intermediate Course
3. The Final Course
These exams are conducted twice every year – once in May-June and then in November-December. During these three years, students will learn about topics such as Advanced Accounting, Auditing & Assurance, Corporate Law & other Laws, Cost & Management Accounting, Direct & Indirect Taxation, Financial Management, Information Technology & Strategic Management. All these topics are mandatory and must be studied in detail to become a successful Chartered Accountant.
Eligibility Criteria
The eligibility criteria for pursuing CA after the 12th is dependent on the type of course you are looking to pursue. The Foundation Course requires students who have passed class 10th or an equivalent exam from a recognized board, and students aged between 16-19 years are eligible for registration.
To become a Chartered Accountant (CA) in India, you must complete the three levels of the CA exam conducted by the Institute of Chartered Accountants of India (ICAI). To be eligible to appear for the CA Exam, students must have completed their senior secondary school examination (10+2) with English as one of the main subjects. Students who have passed a professional course, such as ICWA or CS, before taking up the CA exam eligibility will also be considered.
Admission process
If you’re looking to pursue a career as a Chartered Accountant, the admission process begins with enrolling for a Common Proficiency Test (CPT). After clearing CPT, you are eligible for enrollment in the Integrated Professional Competence Course (IPCC), also known as CA Intermediate. The CA Intermediate exam is divided into two levels – Group 1 and Group 2
The CA Intermediate registration fee for the course is Rs 10,000, excluding taxes. It is mandatory to pass both levels of the CA Intermediate exam to become a full-fledged chartered accountant. Candidates can apply online for the CA Intermediate exam by visiting the Institute of Chartered Accountants of India (ICAI) website.
Candidates can also choose to attend coaching classes or workshops, although it is not compulsory. It is advisable to consult career counselors and seek advice before registering for the CA Intermediate course. They can help guide you toward making informed decisions and provide helpful guidance throughout the process. Career counseling services can be availed at most educational institutions that offer courses related to chartered accountancy. Once enrolled in the CA Intermediate course, there will be additional fees such as tuition fees and examination fees that need to be paid to complete the course. Furthermore, candidates may avail of special tuition from accredited institutes like ICAI, which will have an additional cost that needs to be borne by the candidate. There are multiple payment options available for paying the CA Intermediate registration fees, such as debit/credit cards, UPI payments, net banking, etc. Additionally, ICAI offers financial assistance through scholarships and bursaries for students who qualify based on their financial needs and academic excellence.
Exam pattern
The Chartered Accountancy examination pattern is a 3-tier system. The first tier of the exam is the Common Proficiency Test (CPT). The CPT is a computer-based, objective-type exam conducted by the Institute of Chartered Accountants of India (ICAI). It consists of four subjects – Fundamentals of Accounting, Mercantile Law, General Economics, and Quantitative Aptitude.
The second tier is the Integrated Professional Competence Course (IPCC). This is divided into two groups – Group 1 and Group 2. Group 1 includes four subjects – Accounting, Business Laws, Ethics and Communication, Cost Accounting and Financial Management, and Taxation. Group 2 includes four subjects – Advanced Accounting, Auditing and Assurance, Information Technology, and Strategic Management.
The third tier is the Final Examination. This comprises two groups – Group 1 and Group 2. Group 1 includes seven subjects – Financial Reporting, Strategic Financial Management, Advanced Auditing and Professional Ethics, Corporate and Allied Laws, Advanced Management Accounting, Information Systems Control, and Audit and Direct Tax Laws International Taxation. Group 2 includes six subjects – Indirect Tax Laws, Cost and Management Accounting, Company Law, Economic Laws, Financial Services and Capital Markets, and Insurance.
Candidates are also required to complete three years of practical training in order to become a Chartered Accountant. After clearing all the exams and completing the practical training, candidates can apply for membership with ICAI and become Chartered Accountants.
Scope and career opportunities
The scope for Chartered Accountancy is huge, as it provides a diverse range of career opportunities in the commerce field after the 12th. A Chartered Accountant can be hired by public and private companies, government bodies, financial institutions, and other organizations. The job roles of Chartered Accountants can be broadly classified into three categories: Auditing, Taxation, and Financial Consultancy.
Auditing includes conducting internal and external audits, verifying accounts and records, and issuing financial statements. Taxation involves filing income tax returns, advising clients on various taxes, and ensuring that all tax compliance is met. In Financial Consultancy, CA professionals can provide solutions to complex business problems, devise financial strategies, and advise clients on risk management techniques.
Courses for commerce students that include CA as a specialization can open up even more job opportunities, such as Corporate Finance, Financial Planning, Investment Banking, Mergers, Acquisitions, etc. With their wide range of knowledge and expertise, Chartered Accountants can also opt for teaching at the college level or become entrepreneurs and set up their own practice.