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Chartered Accountancy: Routes to enter into CA course

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Chartered Accountant is a professional who received certification from a statutory body that he/she is able to take care of the matters related to accounting and taxation of a business, like income tax filing, auditing financial statements, preparing and reviewing financial reports and documents, and maintaining records of investments.

The Institute of Chartered Accountants of India has designed three stages of training to become a certified Chartered Accountant (ICAI). The Institute of Chartered Accountants of India (ICAI) is a statutory body that governs and maintains the practice of chartered accountancy in India. An applicant may follow a Chartered Accountancy Course via the Foundation Course Route or direct entry Route.

Students after class 12 can enter into the foundation course after Class, while Direct Entry is for those who have completed Graduation.

On March 15, 2021, also The University Grants Commission announced that CA Qualification will be treated equivalent to PG Degree.

Process to become a certified Chartered Accountant

Steps under Foundation Route entry

  • Register with the Board of Studies (BoS) after appearing in or clearing the Class XII examination.
  • Complete four months study period (bi-annual registration: till 30th June / 31st Dec.)
  • Appear for Foundation examination held in November/May.
  • Qualify Foundation Course
  • Register with the BoS for the Intermediate Course
  • Complete 8 months of study course
  • Appear and Pass in either or both Groups of Intermediate Course
  • Successfully complete Four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS) any time after registering for Intermediate Course but before the commencement of the Practical Training
  • Register for Three Years Practical Training on passing either or both the Groups of Intermediate Course
  • Register for the Final Course after qualifying both the Groups of Intermediate Course
  • Successfully complete Four Weeks Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) during the last two years of Practical Training but before appearing for Final Examination
  • Appear in Final examination during last six months of practical training
  • Complete Practical Training
  • Qualify both groups of Final Course
  • Become a member

Steps Under Direct Route Entry

  • Graduates can pursue a Chartered Accountancy course through Direct Route entry.
  • In this entry route, the Graduates/Post Graduates from Commerce stream with at least 55% aggregate or equivalent score can apply. However, they must have studied Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing, Business Administration or Management Accounting or similar to the title of these papers with different nomenclatures.
  • Graduates/Post Graduates from non-commerce must have secured in aggregate a minimum of 60% of the total marks or its equivalent grade in the examination conducted by any recognized University (including Open University).
  • Direct Route entry is also open to candidates who have passed the Intermediate level examination conducted by The Institute of Cost Accountants of India or by The Institute of Company Secretaries of India. Such candidates are exempted from qualifying Foundation and can register directly to Intermediate Course.
  • Candidates in their final year of Graduation can also register for the Intermediate Course on a provisional basis. Registration of such candidates would be regularized only on submission of final year mark-sheet or passing certificate within six months from the date of appearance in the final year graduation examination and on successful completion of ICITSS (Orientation Course and Information Technology). During the provisional registration period, a candidate can undergo and complete ICITSS (Orientation Course and Information Technology).

Steps under Direct Entry Scheme for Eligible Graduates and Post Graduates:

  • Register with the BOS for the Intermediate course
  • Successfully complete Four Weeks ICITSS before the commencement of the Practical Training
  • Register for Three Years Practical Training
  • Appear in Intermediate examination after nine months of Practical Training
  • Qualify Intermediate Course
  • Register for the Final Course after qualifying both Groups of Intermediate Course
  • Successfully complete Four Weeks of AICITSS during the last two years of Practical Training but before appearing for the Final examination
  • Appear in Final examination during last six months of practical training
  • Complete practical training
  • Qualify both groups of Final Course
  • Become a member

CA Eligibility criteria for Foundation Route:

  • The candidate must have passed Class XII and completed four months of the study period to be able to appear for the Foundation examination
  • The candidate needs to register with the Board of Studies for four months the study period

CA Eligibility criteria for Direct Entry Route:

For direct entry to Intermediate course, the candidate must be:

  • Commerce Graduates/Post-Graduates (with minimum 55% marks) or Other Graduates/Post-Graduates (with minimum 60% marks) from a recognized university (including Open University)
  • Intermediate level passed candidates of Institute of Company Secretaries of India (ICSI) and Institute of Cost Accountants of India (ICAI)

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10 courses a student can study along with CA

courses to do along with CA

Chartered Accountancy is currently one of the most sought-after courses, resulting in increased competitiveness in the sector. Even if the number of chances for Chartered Accountants has increased dramatically, obtaining a second course or qualification will offer you an advantage over your competitors. Although most students prefer to take additional courses after CA, you can do so while studying for CA.

10 Courses to Take Along with CA

1. The CMA (Cost and Management Accountant)

If costing is one of your favourite courses from the CA course and you want to pursue a career in this industry, taking the CMA course in addition to the CA degree will be beneficial. If you do the practice, you can find high-paying work in manufacturing businesses or good clientele.

2. CS (Company Secretary)

If you wish to do dual specialty with CA, a CA + CS course degree is a great combo. The topics in the CS Course are simple and similar to those in the CA Course, so you won’t have much trouble managing your study time. The CS fee is relatively low, allowing you to obtain dual-degrees for relatively little money. A CS course combined with a CA course will give you a huge boost in your profession.

3. CFA (Chartered Financial Analyst)

CFA is one of the greatest courses to take in conjunction with CA. If you are interested in the finance field, stock market, corporate finance, equities research, investment banking, and portfolio management, it is not advised for all CA students. CFA, like CA, is an internationally recognized degree programme.

CA students have an advantage at the first CFA level because the course is simple and similar to certain of the CA subjects. However, some students who are taking a CFA and a CA course at the same time find it inconvenient because both courses require attention and time.

4. MBA

MBA is one of the most popular courses to pursue alongside CA, and for good reason. It complements your academic qualifications and prepares you for a career in business. For a more career-oriented focus, you can also specialize in MBA Finance.

However, the value of an MBA with CA will only increase if you obtain an MBA from a reputable university. These abilities will assist you in achieving your goals.

5. Law

If you want to pursue law as a major in your career, pursuing an LLB course will be extremely beneficial. With your CA training and law knowledge, you may successfully handle matters involving corporate law, civil law, international law, labour law, family law, and patent law, among other topics. If you’re also a CA, having a degree in law will help you practise more effectively.

6. FRM (Financial Risk Management)

FRM is a highly sought-after certification, and people who complete CA can advance their professional chances in the financial sector. The FRM course will provide you with hands-on experience in the field.

Top Indian organisations need for employees with finance and associated abilities, as well as risk management capabilities. As a result, this course will give added value to your resume and knowledge.

7. CIA (Certified Internal Auditor)

All CA students who want to pursue a career in auditing should take the CIA course in addition to the CA. This training will provide you with professional-level internal auditing abilities.

It is a well-known course that is accredited by IIA USA. The tests are given online and can be taken at any time throughout the year.

8. ACCA (Association of Chartered Certified Accountants)

You do not need to take all of the ACCA exams if you have passed a few or all of the CA Intermediate or CA Final papers. Because many of the courses in ACCA and CA are similar, you will only need to take a few more papers. In other papers, you will be exempt.

9. CPA (Certified Public Accountants)

Students who want to work overseas after graduating CA must take the CPA course to learn about US GAAP. If you wish to work as a public accountant in the United States, you must take this course. Some international organisations in India also need you to complete a CPA course in addition to your CA.

10. NCFM (NSE Academy Certification in Financial Markets)

The NCFM is a short-term course offered by India’s National Stock Exchange. It’s an online course that assesses a student’s ability to work in financial markets. The NCFM certificate, as one of the most sought-after courses, will add a lot of value to your job applications and profile.

These were the several courses that may be taken along with CA. You should, however, choose your options wisely.