CA-CPT, CA-IPCC, CA-FINAL
Chartered Accountants are regarded as one of the highest paying career professionals in India. Chartered Accountancy is a good career option if you are interested in subjects like taxation and accounting. The career path to become a Chartered Account (CA) is challenging but is very promising. The entire Chartered Accountancy course duration is almost 5 years. So if you are willing to take up a career as a Chartered Accountant, you shall be prepared to devote that much time to your education.
There is a good demand for Chartered Accountancy professionals in India within private as well as public organisations. A qualified CA is hired to deal with the account details of an organisation. They also help in solving disputes and preventing bankruptcy. If you are planning to pursue this career then it is a better idea to start after class 10. Find out the Chartered Accountancy course details below:
Chartered Accountancy Course Details and CA Exams:
- CPT (Common Proficiency Test)
- IPCC (Integrated Professional Competence Course)
- FC (Final course)
- Candidates are eligible for Chartered Accountant CPT registration after class 10 but they will be able to appear for it only after passing class 12.
- Students of commerce, science as well as arts stream can apply for CPT.
- Students of Commerce stream need to secure 50% aggregate marks in Class 12 exams in order to be eligible for CPT.
- Students of all other streams need to score an aggregate of 55% excluding Mathematics and 60% including Mathematics in Class 12 board exams.
- On clearing the CPT exam successfully, candidates become the member of Indian Chartered Accountants Institute (ICAI) – the exam and course conducting body for all CAs in India.
How to become a CA:
- Requirement for Accounting Technician Course (ATC):
- After clearing the Chartered Accountant CPT, candidates have to enroll for the ATC. The same can be done after clearing 10+2
- Candidates who have already cleared Entrance Examination or Professional Education (Examination-I) or Foundation Examination will be eligible to register for ATC.
- Candidates who had formerly registered for Intermediate/ Intermediate (Professional Competence) programme/ Professional Education (Course-II) can enroll for ATC.
- Apply for IPCC:
- Candidates must have scored at least 100 out of 200 marks in CPT after class 12 in order to apply for IPCC programme.
- Registration for IPCC must be dome nine months before the first day of the month in which the exam will be conducted.
- The courses comprise 7 subjects, each worth 100 marks. In order to clear the course, you will have to score at least 40 marks in each subject and an aggregate of 50% or above.
- Scoring 60 marks and above in any subject will exempt you from reappearing for that particular subject in case you fail the course and plan to give the exams again.
- Articleship in CA:
After clearing the IPCC, you will have to do an internship of 3 years under a certified CA. The articleship is an opportunity to learn how accountancy is handled under an experienced Chartered Accountant.
- Final Course:
During the last six months of your 3-year articleship, you can appear for the final course exams. Once you have cleared the final course, you will be awarded the designation of Chartered Accountant.
CA Salary and CA Job Prospects:
CAs are in great demand within auditing firms, banks, finance companies, stock broking firms, legal firms, etc. Salary options are not bright during articleship but candidates can expect a good salary after completing the course.
The average starting salary of a CA varies from Rs. 4 to 6 lakh per annum after completing the final course. The salary depends on the city and company you get employed with.
CA exams are tough and the course is quite long, therefore, it is advisable to pursue graduation along with the programme. After class 12 you can apply for B.Com programmes along with CA courses. Pursuing B.Com will give you an alternative option in case you want to opt out of the CA field. Another advantage is that you can apply for jobs on the basis of your B.Com degree.
CS-FOUNDATION, CS-EXECUTIVE, CS- PROFESSIONAL
Foundation Course for Company Secretary (CS) is an eight months duration course which is the first level study on the path of becoming a Company Secretary. The course provided by the Institute of Company Secretaries of India (I.C.S.I) is a mixture of postal tuition and optional coaching classes.
What are the subjects of CS Foundation?
- Business Environment and Entrepreneurship,
- Business Management, Ethics and Communication,
- Business Economics,
- Fundamentals of Accounting and Auditing.
CMA-FOUNDATION, CMA-INTER, CMA-FINAL
CMA Foundation. Certified Management Accountant (CMA) certification is a professional certification credential in the management, accounting and financial fields. Commerce. 10+2. Fundamentals of Economics, Management, Accounting, Law etc.
ICWAI stands for Institute of Cost and Work Accountant of India whereas CMA stands for Cost Management Accounting. Apart from the literal meaning, there is no difference at all. There are 3 stages in ICWA course i.e., CMA Foundation, CMA Intermediate.
The Certified Management Accountant (CMA) is the highest level of certification in management accounting awarded by the Institute of Management Accountants (IMA) the USA. The US CMA Course is globally recognized, advanced-level credential appropriate for accountants and financial professionals in the business.