{"id":95,"date":"2021-04-19T08:28:00","date_gmt":"2021-04-19T08:28:00","guid":{"rendered":"https:\/\/ksacademy.co.in\/blogs\/?p=95"},"modified":"2024-05-03T11:09:24","modified_gmt":"2024-05-03T11:09:24","slug":"what-is-chartered-accountancy","status":"publish","type":"post","link":"https:\/\/ksacademy.co.in\/blogs\/what-is-chartered-accountancy\/","title":{"rendered":"What is Chartered Accountancy?"},"content":{"rendered":"\n

In this article, you\u2019ll learn about what the Chartered Accountancy gig is really about and more importantly, how you can get there.<\/p>\n\n\n\n

Introduction<\/h4>\n\n\n\n

Chartered Accountants are one of the most prestigious professionals in India when it comes to the non-technical field. In today\u2019s world when the commerce field grows more and more in demand, chartered accountancy offers one of the brightest career opportunities. The CA course<\/strong><\/a> comprises education in the field of business, taxation, accounting, and auditing required to excel.<\/p>\n\n\n\n

Who is a Chartered Accountant?<\/h4>\n\n\n\n

Put simply, a Chartered Accountant is an accounting professional. After receiving certification from a statutory body they prove that they are qualified to take care of the matters related to accounting and taxation of a business. For example, file tax returns, audit financial statements, maintaining records of investments, reviewing and presenting financial statements. Plus, a Chartered Accountant is also qualified to provide advisory services to their clients.<\/p>\n\n\n\n

The Institute of Chartered Accountants of India<\/strong><\/h4>\n\n\n\n

The Institute of Chartered Accountants of India (ICAI) is the national, professional accounting body of India. Founded back in 1949 under the Chartered Accountancy Act, it remains to this day the only statutory body to regulate the profession in India. Now, how to win their approval? The ICAI exams.<\/p>\n\n\n\n

Three levels<\/h4>\n\n\n\n

The exams are conducted on a three level basis. Divided into 2 major groups. Group one focuses on more theoretical concepts and Group 2 focuses on the accounting, taxation, etc. aspects of the paper.<\/p>\n\n\n\n

    \n
  1. CA foundation<\/strong><\/a>.<\/li>\n\n\n\n
  2. Integrated Professional Competence \u2013 CA Intermediate<\/strong><\/a> Examination.<\/li>\n\n\n\n
  3. CA Final<\/strong><\/a> Examination.<\/li>\n<\/ol>\n\n\n\n

    For more details about the CA preparation and CA finals, click on the link KS Academy<\/a><\/strong>.<\/p>\n\n\n\n

    How to become a chartered accountant?<\/h4>\n\n\n\n

    Now that we\u2019ve understood the CA course and certification, there are a few details to take note of in the process of becoming a successful chartered accountant. For the best understanding, the entry can be looked at from two major aspects.<\/p>\n\n\n\n

     Foundation route entry<\/strong><\/h5>\n\n\n\n

    In the foundation route, students can apply for the CPC exam right after clearing 10th standard. From there on they work their way up.<\/p>\n\n\n\n

    Here are the steps involved in the foundation route process and eligibility<\/p>\n\n\n\n

      \n
    1. Any student who has passed 10th class or any course equivalent to that can apply for the CA foundation exam first. Note, the exam is also commonly referred to as the CPC.<\/li>\n\n\n\n
    2. After the CPT, the students must complete the Intermediate examination commonly known as the IPC. For this, the student must clear at least one of the two exam groups.<\/li>\n\n\n\n
    3. Then comes the CA Final, to write this the student must clear both groups & 2.5 years of article ship training.<\/li>\n<\/ol>\n\n\n\n

      Fun fact, Articles hip is nothing but an on-field, practical learning experience for the students as an employee in various CA firms. So it\u2019s the best time to really get that Chartered Accountant career going!<\/p>\n\n\n\n

      Direct Route Entry<\/strong><\/h5>\n\n\n\n

      In direct route, the student may complete his\/her degree and then apply for the CA course. In this route, the student needn\u2019t write the CA foundation exam.<\/p>\n\n\n\n

      Here are the steps involved in the direct route process and eligibility<\/p>\n\n\n\n

        \n
      1. The graduates\/postgraduates studying commerce must score a minimum of 55% whereas other graduates or postgraduates require a minimum of 60% to apply for CA. When registering, they must make sure it is 9 months prior to the IPC exam<\/li>\n\n\n\n
      2. They must pass either single or both groups in the IPC<\/li>\n\n\n\n
      3. Complete 3 years of article ship and clear both groups for the finals<\/li>\n<\/ol>\n\n\n\n

        CA eligibility and requirements require a lot of work and prior planning so the best option is to contact CA classes and CA institutes to help you along the way<\/p>\n\n\n\n

        Subjects and syllabus included in the course<\/h4>\n\n\n\n

        Over the years the ICAI<\/a> has always been modifying the content and syllabus of the CA course structure. Here is the latest modified list of the subjects and syllabus for IPC and for the Final in each group.<\/p>\n\n\n\n

        IPC \u2013 CA INTERMEDIATE<\/strong><\/h5>\n\n\n\n
        GROUP 1<\/strong><\/td>GROUP 2<\/strong><\/td><\/tr>
        Accounting<\/td>Advanced Accounting<\/td><\/tr>
        Business Laws, Ethics & Communication<\/td>Auditing & Assurance<\/td><\/tr>
        Cost Accounting & Financial Management<\/td>Information Technology & Strategic Management<\/td><\/tr>
        Taxation<\/td>Nil<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
        CA FINAL<\/h5>\n\n\n\n
        GROUP 1<\/strong><\/td>GROUP 2<\/strong><\/td><\/tr>
        Financial Reporting<\/td>Advanced Management Accounting<\/td><\/tr>
        Strategic Financial Management<\/td>Information systems Control & Audit<\/td><\/tr>
        Advanced Auditing & Professional Ethics<\/td>Direct Tax Laws<\/td><\/tr>
        Corporate & allied Ethics<\/td>Indirect Tax Laws<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

        Next Read: What is CA Intermediate Course? \u00bb<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

        In this article, you\u2019ll learn about what the Chartered Accountancy gig is really about and more importantly, how you can get there. Introduction Chartered Accountants are one of the most prestigious professionals in India when it comes to the non-technical field. In today\u2019s world when the commerce field grows more and more in demand, chartered […]<\/p>\n","protected":false},"author":1,"featured_media":97,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[16,18,9],"class_list":["post-95","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ca","tag-ca","tag-chartered-accountancy","tag-chartered-accountant"],"yoast_head":"\nWhat is Chartered Accountancy?<\/title>\n<meta name=\"description\" content=\"In today\u2019s world when the commerce field grows more and more in demand, chartered accountancy offers one of the brightest career opportunities.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ksacademy.co.in\/blogs\/what-is-chartered-accountancy\/\" \/>\n<meta property=\"og:locale\" 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