A complete guide for the CA Exam in India!

One of the most popular career choices for students after class 12th is to become a Chartered Accountant in India. All CA exams are administered by the Institute of Chartered Accountants of India, a national professional accounting body in the nation. In India, the Chartered Accountancy profession is governed by this regulatory body. To become a CA, students must pass all three CA exams: CA Foundation, CA Intermediate, and CA Final. Every year, the ICAI holds two CA examinations.

Various CA Course Admission Procedures:

The CA can be accessed in three different ways. Students can prefer CA Foundation Books for the

CA Course through Direct Entry after Graduation:

best results. The university and the students will determine this. The three different approval processes and some information on the CA subjects are listed below:

CA Course through CA Foundation following Class XII (CPT Route):

The CPT was traditionally the first exam made available as a first-level CA exam. However, CA Foundation has taken its place as a result of an ICAI-revised scheme.

Candidates must pass the CPT/CA Foundation exam, which is held twice a year in June and December with registration deadlines in April and October, in order to continue on with the CA programme after completing the 12th grade.

The CPT/CA Foundation exam offers candidates a variety of options. Some of them are as follows:

  • Let’s say the candidate’s 12th-grade results are still pending. They are still able to apply for a provisional registration for the CPT/CA Foundation exam in this scenario, but they will need to submit a mark sheet as soon as the results are available.

  • After passing the CPT/CA Foundation exam and their 12th-grade exams, candidates can submit an application for the IPCC (Integrated Professional Competence Course).

  • Candidates who complete CA courses are given seats immediately after graduation, exempting them from the CPT. To qualify for the IPCC exam and start their articleship, graduates must have a high percentage of passing grades.

  • A direct entry candidate must finish the nine months of required articleship training in order to be qualified to take the Intermediate Final Exams.

  • If you want to be admitted directly after graduating, you must fulfill the following conditions:

    • CS Executive passed
    • the Intermediate CMA Exam passed

Students who have passed the CA Intermediate level exams are eligible for the Direct Entry Scheme:

The Direct Entry Scheme also accepts applicants who have passed the ICSI or ICAI Intermediate Level exams. 60% of other subjects and 55% of graduate degrees in business qualify for the IPCC when exempt from the CA Foundation/CPT.

Students must prepare for the ICAI CA Midterm Exam for eight months after enrolling. After passing the mid-level exams offered by the Indian Cost Accountants Association (ICAA) or the Institute of Company Secretaries of India (ICSI), candidates can start their position as an articled student (IIC). A three-year degree is an articleship. Following that, candidates should adhere to the following rules:

  • After passing both CA midterm groups, take the CA final exam.
  • Candidates must finish the 4-week AICITS training before taking the final exam and completing the final two years of practice.
  • During the final six months of article training, one may sit for the final CA exam.
  • It is necessary to finish the article training course.
  • Qualify for the CA Final Groups.
  • Join the Indian Association of Certified Accountants to start working as a CA (ICAI)

Comparison Between CPT Route and Direct Entry Scheme in CA Course

Below is a comparative table highlighting the differences between CPT Route and Direct Entry Scheme in CA Course:

Particulars CPT Route Direct Entry Scheme
Eligibility After XII After Graduation or Passed CS Executive or Passed the CMA Intermediate Exam
Exemptions No Exemptions CPT Exempted
Minimum Duration 4.5 years 3 years
Eligibility to start Articleship After clearing Group I of IPCC Immediately on joining without clearing the IPCC Group I
Eligibility to appear for IPCC After 9 months of study after CPT After 9 months of Articleship

CA Courses and Length

Advanced Financial Reporting, Management Accounting, Strategic Financial Management, Professional Ethics, Information System Management, and Advanced Auditing are all topics covered in the CA Graduate Course. A 15-day required training course, the General Management and Communication Skill Course (GMCS) was introduced in 2003. The durations of the courses are listed below:

  • It takes 4.5 years after XII (using the CPT method).
  • The Direct Entry Scheme is available for three years.

A Brief Overview of the CA Exams

The entrance exam for any course that a student wishes to pursue must always be thoroughly researched. Students can ensure they pass the exam with the grades necessary to pursue the career path of their choice by becoming familiar with the exam format. Hardworking students should go through the best Books for CA Foundation. The CA exam format varies according to the level that students are pursuing. The general format for the various levels is shown below.

Foundation CA:

  • Candidates may only administer the CA Foundation exam offline. The majority of students are able to take the exams because the exam centres are located all over the world. A student has two opportunities per year to take the exam, in either Hindi or English. Subjective questions are on the first and second exam papers, while objective questions are on the third and fourth exam papers.
  • Paper 1: Accounting Principles and Practice.
  • Paper 2: Business laws and Business Correspondence and Reporting
  • Paper 3: Statistics, Logical Reasoning, and Business Mathematics
  • Paper 4: Business & Commercial Knowledge and Business & Economics

CA Intermediate

  • An offline exam called the CA intermediate is given twice a year. The exam is available in Hindi and English.
  • The exams consist of two groups.
  • Each paper is of 3 hours and carries 100 marks.
  • The weightage of Papers 2, 4, 6, and 7 is 30 percent and the questions are of the objective type.
  • The subjective questions are given the remaining 70% of the weight.
  • Students must receive a minimum of 40% on each paper and a total of 50% in order to pass the test.

CA FINAL

EXAM

  • The CA final exam is a one-time-per-year offline test. The exam is available in Hindi and English.
  • There are two groups of eight papers each in the exam.
  • Each paper is worth 100 points.
  • After completing the mandatory 2.5–3 year article ship in the CA final level, students are eligible to sit for the CA final exams.

CA STUDY IN INDIA

The ICAI, or Institute of Chartered Accountants in India, is the statutory body which conducts the chartered accounting exam in India. However, given the breadth of CA, numerous institutions provide top-notch CA programmes for aspirant professionals. The best CA colleges in India are listed below.

S.No. Name of the College
1 The Institute of Chartered Accountants of India
2 Academy of Commerce
3 Nahata Professional Academy
4 Vidya Sagar Career Institute Ltd
5 Chanakya Academy for Management and Professional Studies (CHAMPS)
6 Pearl CA College, Kochi
7 Northern India Regional Council of ICAI
8 Indian Institute of Finance and Accounts Pune
9 Navkar Institute
10 Vidya Sagar Institute

Conclusion:

It is a matter of pride to be a Chartered Accountant in India. There are three stages of the exam: CA Foundation, CA Intermediate, and CA Final. The details of all three steps are discussed in the blog. The admission criteria and the list of universities are also mentioned. Aspirants who are preparing themselves for this exam should read this informative blog.