ALL YOU KNOW ABOUT CHARTERED ACCOUNTANCY | CA | CHARTERED ACCOUNTANT
The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament, viz. The Chartered Accountants Act, 1949(Act No. XXXVIII of 1949) for the regulation of profession of Chartered Accountancy in the country. The Institute functions under the administrative control of the Ministry of Corporate Affairs, Government of India and is the second largest professional body of Chartered Accountants in the world.
Course Objective
ICAI becomes World’s leading Accounting body, a regulator and Developer of trusted and independent professionals with world class competencies in accounting, assurance, taxation, finance and business advisory services. ICAI will leverage technology and infrastructure and partner with its stakeholder to impact world class education, training and professional development opportunities to create global professionals. Develop an independent and transparent regulatory mechanism that keep pace with the changing times and ensure adherence to highest ethical standards.
Who can Enroll ?
- After passing the 10th class or any course equal to that which is recognized student can apply for Foundation.
- After 10+2 qualification.
- Graduate/post graduates in commerce with 55%, other graduates or post graduates with 60% can also apply.
No of Exams & Results in a Year
Students may register for the Course on or before the 1 day of January or the 1 day of July for the examination to be held in the month of May/June or November/December respectively. Results for May exams usually declares in the 1st week of August and for Nov exams in 1st week of Feb.
The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament, viz. The Chartered Accountants Act, 1949(Act No. XXXVIII of 1949) for the regulation of profession of Chartered Accountancy in the country. The Institute functions under the administrative control of the Ministry of Corporate Affairs, Government of India and is the second largest professional body of Chartered Accountants in the world.
Hurdles
Every step is the challenge starting from CA foundation to CA final. The CA qualification syllabus is very vast every student required in-depth knowledge of all the subjects and duration of CA course is too long but doesn’t matter how long you took complete CA course, if you want to be a successful chartered accountant then time factor doesn’t matter the thing that matter is how much knowledge you gain in this period.
**First challenge- CA foundation:**The entrance test is not like another course. This level is solely based on Application, Comprehension & Knowledge. The entry in CA is easy as compared to clear the whole course.
Second challenge-CA Intermediate:
One’s you cleared the first step means CA foundation the main challenge starts where the student has to appear in CA Intermediate which has replaced CA IPCC. The whole syllabus of CA Intermediate is divided into 8 subjects and 2 groups. The Intermediate Course helps you to receive working knowledge & analysis & application.
Third Challenge-Articleship Training:
In CA Course after completing CA IPCC a CA student is required to undergo 3 years of Articleship training under a Chartered Accountant and this is the first step where CA student enter into the practical world. This training guide as issued by ICAL contains all the regulations related to CA course during Articleship Training. This is the time where the student has work for a stipend which is very low.
Biggest Challenge-CA Final:
After completing the training for 3 years every student will have to face the biggest challenge of this course. This is the final step which tests your hard work, knowledge, and focus on evaluation & synthesis. It also checks your knowledge gained during practical work.
Student gets three or more attempts to crack this final level of CA. Sometimes they takes too many attempts not just they don’t hard work because they lose focus on studies or distract from the goal because during the tanning period student used to get more time and interest in work rather than studies.
