Introduction
In India, a Chartered Accountant (CA) is a professional accountant who has passed a series of meticulous qualifications and exams to become a member of the Institute of Chartered Accountants of India (ICAI). In this context, the term “Chartered” refers to a full member of a professional accounting organization who has achieved a specified level of skill and authority in accounting and finance.
The particular criteria and rules for becoming a Chartered Accountant are different in every country, as each nation has its accounting authorities that award the distinction. In some countries, Chartered Accountants are also referred to as Certified Public Accountants (CPAs) or Chartered Professional Accountants.
How to Become a Chartered Accountant
Becoming a Chartered Accountant (CA) after completing the 12th standard is a well-structured process that usually consists of three phases: Foundation, Intermediate, and Final.
Here’s a step-by-step method on how to become a Chartered Accountant:
- Select the commerce stream
Selecting the commerce stream in high school is the first step towards becoming a CA. While a lot of students from the science stream have also entered the world of CA, a commerce background can add great value. Accountancy, Economics, and Business studies are all commerce disciplines that will help you prepare for your CA studies.
- Enroll in the CA Foundation Course
After completing your 12th grade, you can enroll in the CA Foundation course. The Institute of Chartered Accountants of India (ICAI), India’s regulating organization for CAs, facilitates course registration. The registration details are available on the ICAI website.
- Attend the CA Foundation course
The CA Foundation course comprises of four subjects – Accountancy, Business Law, Business Mathematics & Statistics and Business Economics.
- Attempt CA Foundation Exams
As per the new scheme, which was announced in 2024, the CA Foundation exams are held thrice a year, in May, September and January. After finishing the CA Foundation course, a student can apply for the examinations in the appropriate session.
- Register for the CA Intermediate Course
After passing the CA Foundation exams, a student must clear the CA Intermediate course. The Intermediate course is divided into two groups and provides a more in-depth grasp of accounting, auditing, taxation, and other related topics.
- Attempt CA Intermediate Exams
As per the new scheme, which was announced in 2024, the CA Intermediate exams are held thrice a year, in May, September and January. After finishing the CA Intermediate course, a student can apply for the examinations in the appropriate session.
- Complete Article ship Training
After clearing the CA intermediate course and a course on Information Technology & Soft Skills, a student must complete mandatory practical training called “Article ship.” During articles, a student will work as an intern at a CA firm or under a practicing CA for 2 years (as per the new scheme, 2024).
- Register for the CA final course
After passing the CA Intermediate exams, advanced level program on IT & Soft Skills and serving the appropriate period of Articleship, a student can enroll in the CA Final course.
- Prepare for CA Final Exams
The CA Final course covers advanced concepts in accounting, taxation, auditing, and other related fields. Prepare thoroughly for the CA Final Exams. Avinash College of Commerce can be your perfect guide for all the levels of the CA exam.
- Attend CA Final Exams
CA Final exams are held twice a year, typically in May and November. After proper preparation, a student can take the CA Final examinations.
Chartered Accountant Eligibility Criteria
- Education
To become a CA, you normally require a bachelor’s degree in commerce or a similar discipline, such as finance or accounting. The educational background provides the basic knowledge needed to pursue CA courses.
- CA Foundation Course
After 10+2 (12th grade), aspiring CAs must enroll in and complete the CA Foundation course, which serves as an entry-level programme into the CA profession. It includes basic accounting principles, business laws, economics, and mathematics & statistics.
- CA Intermediate Course
After passing the CA Foundation exams, students can attempt the CA Intermediate exam which is conducted in May, September and January every year. This stage digs more deeply into accounting principles, auditing, taxation, financial management, and other related topics.
- Article ship Training
As part of the CA programme, applicants must complete practical training of 2 years known as Article ship. This training consists of working under the supervision of a practicing CA or a licensed firm to obtain hands-on experience in accounting, auditing, and related responsibilities.
- CA Final Course
Candidates can register for the CA Final course once they have completed the CA Intermediate exams and the required Article ship duration. This is the final stage of the CA programme, which includes advanced topics in a variety of courses and culminates in final exams.