How to Become a Chartered Accountant?

Chartered Accountant

The Chartered account is a field of accounting and taxation. It’s a field of accounting, with a high pay scale in India. Chartered accountancy is one interesting field to work with. Though the Chartered accountancy course is a tough one to clear, professional life as a chartered accountant is more interesting in the real-life aspects.

Chartered accountant membership is provided by the Institute of Chartered Accountants of India.

Chartered accountancy can only be pursued through ICAI. After receiving the membership from ICAI it has to be renewed occasionally.

Chartered Accountants can practice as private consultants for banks, private sectors, government sectors, and also for chartered accountancy firms. Chartered accountants stop from going Bankruptcy.

Chartered Accountancy Course

The duration of the Chartered Accountancy course is 5 years. There are three levels in becoming a Chartered accountant. They are-

1. CA Foundation

2. CA Intermediate

3. CA Final

CA Foundation is the first step towards Chartered Accountancy. A student has to clear higher secondary school examinations to attend the CA Foundation examination. This is an entry-level examination for CA, For the students can prepare themselves from 10 std.

CA Intermediate is the next level after CA Foundation. CA Foundation is a little tougher than CA Foundation. One has studied hard to clear CA Intermediate. CA Intermediate consists of two groups. You have to clear both the groups in order to clear CA Intermediate. Each group consists of four subjects each, and you have to score 40% in each subject and an overall aggregate of 50% to pass CA Intermediate Examination. You can attend both the group at the same time or in different attempts.

CA Final is the stage in the CA course. After clearing CA Final, you will be officially graduated as a CA - Chartered Accountant. Before CA final you have to take up article ship training under a registered CA for 3 years after your CA Intermediate examinations. Only then you can register for your CA Final examinations.

The whole CA syllabus deals with accounting, taxation, law, Budget planning, amendments in policies, etc. Also, during the CA Course, you have to take up your training for Communication skills and also on Information Technology. Which makes you updated in the computing field which will help during your career.

Skills Needed for a Chartered Accountant

1. A chartered accountant needs good communication skills.

2. Must need logical reasoning to solve complex problems.

3. Must understand how various sectors operate such as private, government, organized, and unorganized sectors.

4. Must have a practical brain to apply all they have studied into real life.

5. CA should have good written communication to avoid miscalculations on accounting.

6. CA should know to deal with various clients.

Admission for Chartered Accountancy Course

Any students can pursue CA course. Their minimum qualification is +2 with equal to higher secondary education in any board, with minimum pass percentage.

Students with commerce group can directly enter CA course, after clearing CA foundation exam. Students can register for CA foundation after passing their 10th examination.

Students with non-commerce background have to score 5%more than the minimum pass percentage of the students with commerce background.

Graduates with non-commerce background can enter for CA intermediate directly with a minimum pass percentage in their course. Graduate with commerce background can also pursue CA directly from CA intermediate after completing their course.

Places in need of Chartered Accountant

Chartered accountants are in great demand in almost every sectors of work. Fields like

1. Accounting and taxation

2. Auditing Firms

3. Banks

4. Small Finance Banks

5. Chartered Accounting Firms

6. Financial accounting

7. Private consultant

8. Legal firms

9. Investment bank

10. Share market consultant

A Chartered accountant can work in every firms or can even practice as a private consultant for clients.