Are you planning to become an SA professional? If yes, then read this article because the facts mentioned in the article can give you an idea on how to complete your CA and become a CA professional.
Public accounting is one of the most deserving and important qualifications and professions in the world. While some people don’t really understand what an accountant does, it’s not an easy job. An accountant is an accounting professional who has the experience, training and qualifications to perform a wide range of accounting tasks in a business or industry. These include auditing, financial advice, tax reporting, income tax calculation, preparation of financial statements, etc. The main responsibilities of an accountant are management accounting, applied finance, financial accounting, management accounting and taxation.
While in the past students ignored CA courses because they thought they were difficult, today the number of aspiring CAs has increased dramatically. With the facts mentioned in this article, you can plan your future.
How do you become a chartered accountant? –
To become a chartered accountant, a candidate must go through several processes. However, before I explain the process. We look at the basic criterion.
- A candidate who wants to become a chartered accountant must first pass his 12th level.
- He should have made it to the 12th by at least 60%.
- If a candidate has already completed the UG course, he/she must have obtained at least 55% of the total marks.
Now you know the basic criteria you need to meet to become a chartered accountant in India. Let’s get into the details.
The five essential steps to become a chartered accountant in India are as follows.
Step one: Register and take the common qualification test (CPT).
Step two: First enrollment for CA Foundation courses
Step three: Upon completion of the main course, the graduate student must enroll in the intermediate CA course.
Step four: At the end of the intermediate course, you must register for a course.
Step 5: Once you have successfully completed your studies, you will need to register for the CA final exam.
Step 1: General ability test (GCT) –
The general qualification test is the entrance test for the training of chartered accountants. Although not everyone can participate in the exam, the aspirant must register and then participate in the exam. How to register for the test, costs and details can be found here.
CA CPT registration process :
Step one: Visit the website at https://cdn3.digialm.com/EForms/configuredHtml/1666/57499/Registration.html?action=newuser.
Step two: On this page you will find a form to fill out. Enter the required information and click Login or Register.
Step three: Now enter the payment details on the next page and pay the registration fee via Net Banking/Debit Card/Credit Card/Rupay Card.
CA CPT registration fees :
The registration fee for the CA CPT course is 1000 INR and $300 for those outside India. Payment can be made online with Master, Maestro, Rupay, Visa, debit or credit card.
Details of the CA CPT Exam –
The CPT consists of two exam sessions and the exam covers a total of 200 points, 100 points for each session. The candidate must complete each test session within 2 hours.
Session 1: This test session consists of two parts: A and B. Part A consists of a 60-point question on the fundamentals of accounting. Section B contains a total of 40 questions on trademark law.
Session 2: There are also two sections A and B in this trial hearing. Section A has an overall score of 50 for general economics. Part B has a total of 50 points for quantitative skills.
Step 2: Basic course –
The CA Fundamentals course is an opportunity to become a Chartered Accountant in India. A candidate who has passed the 12th can register and participate in this course. However, if the candidate has already taken a course, registration and participation in CA Foundation courses is not required.
Registration for the CA course can be done in the same way as registration for the CA CPT. Enrollment may occur once the student has completed the tenth grade. The student may not attend first grade until the end of 12th grade. After registration, the candidate has 4 months to prepare for the basic exam, which is held twice a year.
Cost of entrance exam :
The cost of the preparatory exam is approximately INR 1500 to take the exam in India and $325 to take the exam at a centre outside India.
UCLA Foundation Review Details:
The basic course requires the submission of a total of 4 assignments, the first two of which cover the topics of accounting, business law, and business correspondence and relations. The third and fourth papers are based on business mathematics, statistics, knowledge of business, logical reasoning and business management. The third and fourth reports will contain questions of an objective nature.
There are only 4 reports, but the 2nd and 4th have two sections. Second document Part A, based on commercial law, Part B, based on business correspondence and reports. The fourth article, part 1, is based on business knowledge and part 2 on commercial knowledge.
The candidate must achieve at least 30% in each subject to pass and must achieve 50% in the overall subject.
Step 3: Intermediate course CA –
After completing the basic course and passing the exam, the candidate is qualified to move on to the next level. The intermediate course is step 2 or 3 of the SA, which all candidates must take and pass. The interim CA course is the most important step you need to take and pass to become a chartered accountant.
The intermediate course includes a total of 8 different subjects:
- Testing and verification
- Company and other legislation
- Financial management and economy for finance
- Advanced Accounting
- accounting of operations and expenditure
- Business information system and strategic management
CA Intermediate Exam Details:
The intermediate course exam will be divided into two groups. Each group has 4 gears, for a total of 8 gears. Each post has a total of 100 characters and 8 posts have a total of 800 characters.
Document 1: Accounting, up to 100 points
Document 2: Company law and other laws, max. 100 points
Test 2 is divided into two parts: Part 1, based on company law 60 points, and Part 2, based on other laws 40 points.
Document 3: Cost and activity account, max. 100 markers
Part 4: Loads, max. 100 markers
The fourth article consists of two parts: Section A, based on DM 60 Income Tax Act, Section B, based on DM 40 Indirect Taxes.
Document 5: Extensive accounting, max. 100 points
Document 6: Audit and verification, max. 100 stamps
Unit 7: Corporate governance and strategic management, maximum 100 points.
The seventh essay consists of two parts, part 1 on operational information system 50 points, part 2 on strategic management 50 points.
Document 8: Financial management and economics for finance, up to 100 points
The eighth article is in two parts: the first part deals with financial management 60 points, the second part – financial management 40 points.
Students taking interim CA courses are required to take a 4-week ICITSS course, which is mandatory.
Step 4 and step 5: Article and final CA –
CA Property Article: All applicants who have participated in the three phases above are eligible for the scholarship. He can’t avoid his CA status if he wants to become a certified public accountant. The CA internship is designed to sharpen a candidate’s skills and practical knowledge to become a chartered accountant. The CA course is in fact the last step before the final exam.
Even in writing a paper, the candidate has to pass two exams. The first exam is 75 points in the first year of the major, and the second is 100 points at the end of the second year.
After 3 years of training or apprenticeship. The candidate will be able to register for and participate in the CA final exam. Remember, the training or internship must be carried out under the supervision of a certified public accountant and the candidate must provide supporting documents. Without having attended the training or course, the final CA cannot be registered.
The CA finals are…
For the final CA, the candidate will acquire the best skills and knowledge of AICITSS and the course or item. Once you have completed the 4 steps above, you are ready to register for the CA Finals.
There are a total of 13 exams for the CA finals:
Document 1: Annual accounts
Unit 2: Advanced audit and professional ethics
Document 3: Company and commercial law
Document 4: Strategic cost management and performance measurement
Document 5: Strategic financial management
Document 6A: Risk management
Document 6B: Financial services and capital markets
Document 6C : International tax
Document 6D: Economic laws
Document 6E : Global financial reporting standards
Document 6F : Multidisciplinary case study
Paper 7 : Direct taxes and international taxes
Document 8: Indirect tax laws
To qualify for the CA Finals, a candidate must achieve at least 40% of the minimum marks in each subject and 50% of the cumulative marks.
After you have taken and passed the CA final exam, you will become a Certified Public Accountant.
frequently asked questions
How do you become a CA ICAI?
How much does it cost to become a CA in India?
The total cost of the basic CA course is Rs 9800 if you do it in India and if you do it outside India, it will cost you a total of $780.
Can I do the CA in 2 years?
If you have been writing articles for 6 months, you can remove your group2. And now you have two more years to go. They can work, receive scholarships and study in groups. If you complete each level on your first try, you will need at least 5.5 years to complete the AC.