If you are an aspirant looking for steps and knowledge to become a chartered accountant, here a good article presented for you. This article talks about the topic of how to become a chartered accountant and the steps included, the eligibility requirement to become a chartered accountant are explained below.
Role of a Chartered Accountant
Chartered accountant career is an extraordinary career to shine best and earn best of salary than other works. CA people will work immensely on hard work; they will be passionate, dedicated to working and they always are focused on their work. Being a CA a worker should hold financial records of a company or organization to provide trustworthy information on money transactions. A financial record includes a list of accounts details and a list of documents related to accounting.
What are the possibilities to work as CA?
If you are familiar with numbering calculation you have the ability to choose Chartered Accountancy as your career. A Chartered Accountant can work in different settings as Commerce, industry and public practice firms to maximize profitability from the total revenue of an organization. On behalf of the employer or client, a CA worker will prefer to work as not-for-profit and settings in public sectors.
Chartered Accountants are considered as talented in calculations and simplifying the calculation of money from earning to get profit. Their work will be different from traditional accounting so they are always in demand from different organizations. You might wonder to become a qualified and certified accountant, take a look at the following information to get details to become CA.
How to become a Certified CA in Chartered Accountancy?
Becoming a CA is not the easiest task; the important point is anybody can’t become a Chartered Accountant. Pursuing CA degree is not equal to getting graduated from a renowned college in MBA or other bachelor’s degree. After pursuing a different article and getting passed on the examination conducted by ICAI you will become a member of the ICAI body. Being a member of the Institute of Chartered Accountants in India will be considered as a certified CA.
After completing the exams and join as a member of the council, they will regulate you to auditing, financial accounting in India. There are four types of Article is available on the CA course, but you should be careful to understand that syllabus. Some restrictive rules and regulations are drawn by ICAI to attend the exam and some procedures to be followed on every stage of article completion.
Qualification necessity to become a Chartered Accountant
A qualification of CA is exceptional from other careers; those exceptional conditions are listed below.
- An applicant should be passed in Senior Secondary Examination and CPT (Common Proficiency Test)
- A candidate should pursue their Post Graduate Degree in Commerce with a percentage of 55%
- An applicant should have knowledge and studies about the three papers of Mercantile Laws, Accounting, Auditing, and commerce-related papers.
- If any Non-commerce Graduates apply to become a CA, they should hold a degree in accounting related papers with an aggregate of 60% and above.
- A candidate should get enrolled in IPCC either a candidate can be a student of Institute of Cost Accountant Of India.
- A candidate can be a graduate student of Institute of Company Secretaries of India to register for IPCC.
Career Paths of CA
Dear Aspirant, Chartered Accountant Career is different from a regular accountant. Anyone can’t become and call themselves as a CA; work of Chartered Accountant is more tedious to hold all financial records and managing financial system of an organization. A CA who is being as a member of ICAI only has the license to undertaking financial audits and providing financial advice for a company.
A regular accountant can’t manage audits file and auditing the financial record of a company, CA positioned person only has the right to do independent auditing of a specified company or organization financial position. To complete and submission of ICAI examination know the following procedure. You have to undergo four articles to pass on the ICAI exams.
Four Levels to become CA
First Level: CPT Course
Common Proficiency Test, it is the first article to start a career as CA. you have to register for CPT exam even at the time when you have passed the 10th standard examination with the Institute of Chartered Accountants of India. After registration, you should appear in the CPT exam after when you have completed your higher secondary examination. Period of 60 days from the date of registration of CPT after the 12th exam you have to pass on the CPT level. The next step is to register on the IPCC examination.
Level 2: IPCC/IPCE
Steps required to Register IPCC level
To register on the Integrated Professional Competence Course level a candidate should be passed the 12th examination with CPT course. Generally, registration of IPCC will be opened from the nine months before IPCC exam you have to fill the registration well in advance to get priority. IPCC examination details are explained below.
To get passed in IPCC level a candidate should get passed in 4 papers on Group1 examination and three composed papers on Group 2 examination. To commencing an Article ship in IPCC a candidate should be passed in the Group1 examinations.
Registration for IPCC exam
Candidates who are getting passed in CPT exam are applicable to appear and register for both Group1 exam and Groups of IPCE examination. IPCE – Integrated Professional Competence Examination, a candidate can also appear on Group2 exam to get passed after attempting the Group1 examination or they can attend Group2 exam during their article ship in CA. But a candidate should register their article ship only after passing on Group1 papers.
Level 3: Three years of Article ship
100 hours of orientation courses and Information Technology training have to complete by a candidate to register for Article ship in CA. The courses offer the flexibility for you to complete the course at any time before registering to Article ship.
Article ship is an important process to be done to become a CA, candidates who are practicing in the profession will applicable to register CA course articles. A candidate who is practicing as CA and passed in either Group1 or IPCE group can undergo as an Articled Assistant within the period of 3 years.
Level 4: Final CA course
A candidate passed on both the groups of IPCC examination are eligible to register for the final stage of CA course. During the Article ship the last 6 months from the period of 3 years, you should register for the final CA exam and get passed in both Articled training and final course. You should get passed on all the IPCC, IPCE, and each level exam to process the CA certification successfully.
This is also a mandatory course to complete during the given time of 15 days to get success on the stage of article ship. General Management and Communication skills will be trained on the period.
To become a CA and member in ICAI
A candidate would take 4.5 years for CPT route and Graduation Route with 3 years can directly enroll for IPCC. After completion of the course, you have to register for a much-awaited procedure to become a member of ICAI and designated as CA.
We are sure this article from CareerJobs360 will help you to understand about Tip to have victory in the become a chartered accountant.