If you have a knack for understanding numbers and are interested in accounts or finance, then becoming a Chartered Accountant (CA) can be a great career option for you. But many students do not know what is the path to becoming a CA, which exams have to be given and what qualifications are required. Let us know step by step what is the entire process of becoming a CA and what things are very important to keep in mind.
CA means Chartered Accountant, a professional who is an expert in accounts, tax, audit, financial advisory and business consultancy. The role of CA is very important for any small or big company because it keeps proper accounts of the company’s money and ensures compliance with the tax rules of the government.
Qualification to become CA
Can start after 12th: Any student who has passed 12th class Commerce, Science or Arts from any stream can start studying CA.
Benefits for those with commerce background: If you have taken Commerce in 12th and have studied subjects like Accounts, Economics or Maths, then you will find it a little easier in the initial stage.
Direct Entry for Graduates: If you have completed graduation, then you can directly take admission in CA from Intermediate level.
Three stages of becoming CA
CA Foundation Course: After 12th, first of all you have to take admission in this level. In this, basic subjects like Accounting, Economics, Business Law and Maths are taught. This course consists of 4 papers. The examination is held twice a year in May and November. To pass, at least 40% marks in each subject and 50% marks in overall are required.
CA Intermediate Course: After passing the foundation, the next step is intermediate. There are 8 papers which are divided into two groups. It includes advanced subjects like accounting, auditing, taxation, costing. In this stage, you are given theory as well as practical knowledge.
CA Final Course: The last step after Intermediate is CA Final. There are also two groups in which subjects like audit, strategic finance management, advance taxation are covered. After this level you become a trained chartered accountant.
Articleship means training
The most important part of becoming a CA is articleship training. After passing intermediate, you have to do practical training for 3 years. During this time, you work under a senior CA and gain experience in accounting, auditing and taxation in the real world. This training gives a strong foundation to your career.
How much time does it take to become a CA?
If you start with Foundation straight after 12th, it usually takes 4 to 5 years to complete the entire course. But it also depends on your hard work and passing speed.
Career options after passing CA
Becoming a Finance Manager or Auditor in a Private Company or MNC
Working as a partner or consultant in a CA firm
Starting your own chartered accountancy firm
Making a career in the field of banking, taxation and financial planning
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