CA or Chartered Accountancy is a professional designation and accounting qualification that involves extensive training and education in accounting, auditing, taxation, financial management, and business strategy. The title Chartered Accountant is given to an accounting expert who has been approved by the Institute of Chartered Accountants of India (ICAI) as qualified to handle issues relating to a business firm’s taxation and accounting. Chartered Accountancy entails compiling and evaluating financial reports and documentation, filing tax returns, auditing financial statements and company procedures, registering the business organization with the government, etc. A Chartered Accountant with formal training is also qualified to provide consulting services to a variety of clients, including businesses and people.
Candidates can pursue the CA course via two methods i.e CPT Route (Foundation Route) OR Direct Entry method. Candidates who have passed class 12th can join the course through the CPT route and eligible candidates who have completed their graduation/ post graduation/ CS or CMA Executive/ Intermediate level pass can directly take admission to the Chartered Accountancy Intermediate level. The duration of the course is 4.5 - 5 years through the CPT route and 3 years through the direct entry method. Interested candidates must check the CA Syllabus to devise a solid preparation strategy to ace each level of the course.
The CA course fees for the Foundation programme is INR 9,800, for Intermediate level it is INR 18,000 (for both groups) and INR 13,000 (Group I/ II), and for the Final level it is INR 22,000. Chartered Accountants hold important positions in both the public and private sectors because they serve as advisors to businesses and assist with the preparation of financial reports, the acquisition of loans, the creation of financial projections, the explanation of how loans will be repaid, and the assessment of a company's viability. The annual compensation range for a CA in India is between INR 6,00,000 and INR 20,00,000. International auditing firms provide compensation packages that might reach as high as INR 75,00,000 annually.
Also Read: How to Become a Chartered Accountant?
The CA highlights section will provide you with an overview of important aspects related to the chartered accountancy course like duration, course fee, top recruiters, etc.
|Course Name||CA Course OR Chartered Accountancy Course|
CPT Route (After class 12): 4.5 - 5 years
Direct Entry Route (After graduation/ Post graduation/ CMA or CS Intermediate level passed): 3 years
|Age||No minimum or maximum age limit set by ICAI to pursue the CA course.|
For Foundation Route
To be eligible to take the Foundation examination, a candidate must have completed their four months of required study time after registering as a CA and have passed the class 12 exam.
For Direct Entry Route
Following candidates can take direct admission to the CA Intermediate level:
|Average Annual Salary||INR 5 LPA - INR 20 LPA|
|Employment Roles||Accountant, Financial Manager, Banker, Taxation Consultant, Consultant and more|
The Chartered Accountancy course is not an easy ride. It involves extensive studying, a difficult articleship that lasts for around 3 - 4.5/ 5 years, and exams that are difficult to pass. Only if you are reasonably confident in your capacity to invest the time and effort necessary for the course should you pursue this qualification. Career-wise, taking this course makes sense if:
CAs handle a company's accounting, taxation, legal concerns, and auditing needs. There is no need to search further if this appeals to you. As a chartered accountant, you can choose your area of specialization from among direct and indirect taxes, accounting, taxation, financial consulting, tax audits, and more.
Managing a company's finances, fundraising, project financing, treasury, etc. are all included in corporate finance. This is a demanding and interesting career, and in India, chartered accountants virtually invariably get these positions. As a CA, you can contribute significantly to corporate finance by delegating the creation of financial statements and other accounting-related responsibilities.
You enjoy finance and accounting, but you're not sure which area of finance you want to focus on. If you have the perseverance to finish the course, CA is a very safe choice. Passing the exam is a difficult task because of the low passing percentage. Although there are plenty of opportunities in this scenario, the Chartered Accountancy curriculum offers a strong return on investment. Compared to other finance programmes in India, the compensation scale is very good and the investment is minimal.
It should go without saying that you need this course if you want to start your own CA practice. According to the applicable laws and regulations of India, a chartered accountant is legally permitted to conduct audits. For instance, businesses that qualify for statutory audits must only have their financial records and tax returns audited by licensed chartered accountants. Due to this, Chartered Accountancy is a well-liked programme in India.
The course is very demanding and stressful in every way. Students should therefore evaluate their aptitude and interests before enrolling in this course. Since students must do demanding articleships while they are studying, time management is absolutely crucial. Therefore, only individuals who have a genuine interest in accounting and taxes should enroll in this course.
The CA programme is one of the nation's most challenging and popular professional programmes. That is the ideal career for many people, and it pays well, too. A profession in Chartered Accountancy offers a variety of options in addition to other advantages. Although becoming a Chartered Accountant is not an easy feat, many students choose it since doing so offers some of the best career opportunities and secure employment in a variety of roles. This is a summary of some of the most important arguments in favor of choosing to become a CA professional:
There is currently a record high demand for CAs on the global market. For individuals who have always wished to live in a foreign nation and grow their career there, this is the ideal alternative for them. Yet, there are a number of alternative vocations that, if followed, can aid applicants in relocating abroad. More than 14% of the 2,00,000 CA graduates have been placed and settled abroad, according to research by the ICAI. Similar to how they are in India, Chartered Accountants are highly sought after in the global market.
Many individuals think that chartered accounting is monotonous and primarily consists of numbers. This is a mistake, though, as CA includes more than just computation. Chartered Accountants play a number of exciting roles in the growth of businesses across all industries.
A qualified CA with three to five years of significant experience may expect to get an average income of INR 11,00,000 - 15,00,000 LPA. Candidates with extensive business knowledge and abilities, as well as several sources of income, can, nonetheless, earn more than the average pay. The nicest thing about this occupation is that there are no financial disadvantages. A Chartered Accountant with a 10 years of experience can earn up to INR 60,00,000 as their income.
After finishing the CA course, candidates will have the chance to work in a number of employment roles. In this industry, one can even later alter their employment role if they so want. Applicants who have a significant amount of relevant experience can advance to the position of entrepreneur. Chartered Accountants are in high demand in several industries these days, because of which the money paid by numerous organizations is likewise fairly high compared to other professions.
One of the world's safest professions is that of a Chartered Accountant. Both large and small enterprises need CAs. Chartered Accountancy is regarded as one of the most recession-resistant occupations in both the United Kingdom and India, which is an intriguing fact about this profession. Making the decision to become a Chartered Accountant may be thrilling and gratifying at the same time.
Contrary to popular opinion, Chartered Accountancy is not just about statistics. The curriculum also aids candidates in developing their technical skills, business acumen, and depth of knowledge in finance related subjects. With this kind of training, CAs can now operate in almost any industry and adapt to it. The Chartered Accountancy curriculum also gives people an entrepreneurial flair which serves as a great foundation for them to build their own organization.
Banks, financial institutions, corporations, and other organizations place a great value on CAs. There are many job scopes available for certified Chartered Accountants in India as well as abroad.
Candidates who have earned their CA certification may also launch their own auditing company and begin offering auditing services to clients. Studying for the Chartered Accountancy course gives candidates an in-depth understanding of how to establish a firm, what are the rules, regulations, and compliances related to the establishment of a company, etc.
Only a select few people can become chartered accountants since the CA exams are extremely difficult to pass, but the demand is great. Consequently, it is a career where demand is higher than supply. Candidates with a Chartered Accountancy certificate are eligible for employment in the public and private sectors with reputed firms and they gain employment really quickly as compared to their peers.
Candidates must complete training and pass exams at various course levels administered by the Institute of Chartered Accountants (ICAI) of India in order to become certified Chartered Accountants. The CA course is divided into three primary levels: Foundation, Intermediate, and Final.
The candidate must meet the following requirements in order to be eligible for direct entry into the CA Intermediate course:
It is important for aspirants to know the detailed admission process of the Chartered Accountancy course. Different routes of selection methods are adopted for each level of the CA course.
Candidates can work through their journey of becoming a CA mainly via two routes i.e Foundation route or direct entry route. The following are some crucial details on how to become a Chartered Accountant:
Through Foundation Route
The steps to become a certified Chartered Accountant via the foundation route are as follows:
Through Direct-Entry Route
I) For Commerce Graduates and Postgraduates with a minimum aggregate percentage of 55% or for Other Graduates and Postgraduates with a minimum aggregate percentage of 60%:
II) Candidates who have successfully completed the Intermediate level examination of the Institute of Company Secretaries of India or the Institute of Cost Accountants of India:
It is indispensable for the CA aspirants to be aware of all the crucial dates related to the course and in the pursuit of making things easier for the aspirants, we have compiled all the cardinal dates related to the Chartered Accountancy exams in this section. Beginning on February 3, 2023, and concluding on February 24, 2023 (without late fee), candidates can register for the May-June phase of the ICAI CA Foundation, Intermediate, and Final exams. With a late fee payment deadline of March 3, 2023, the registration process is still ongoing. The dates for the Foundation exams are June 24, 26, 28, and 30, 2023. The Chartered Accountancy Intermediate examination will run from May 3 to May 18, 2023, and the Final examination will take place between May 2 and 17, 2023,
The exams will be conducted through computer based mode. Applicants who have registered for the Foundation, Intermediate, or Final exam can visit the ICAI's official website to learn more about the schedule of the exams and other important information. The crucial dates related to the ICAI CA exams 2023 are mentioned in the table below:
|Exam Events||CA Exam Dates 2023|
|Final, Intermediate & PQC Exams Application form submission starts||Feb 3, 2023|
|Final, Intermediate & PQC Exams Application form submission ends||Feb 24, 2023|
|Final, Intermediate & PQC Exams Application submission with late fee ends||March 03, 2023|
|Foundation, Intermediate, and Final form correction window||March 4, 2023 to March 10, 2023|
|Foundation Course application submission start date||Feb 3, 2023|
|Foundation Course application submission end date (without late fee)||Feb 24, 2023|
|Foundation Course application submission end date (with late fee)||March 03, 2023|
|ICAI CA Foundation Exams 2023|
24 June, 2023
26 June, 2023
28 June, 2023
30 June, 2023
|ICAI CA Intermediate and Final Exams 2023|
|Intermediate Course Group I|
May 3, 2023
May 6, 2023
May 8, 2023
May 10, 2023
|Intermediate Course Group II|
May 12, 2023
May 14, 2023
May 16, 2023
May 18, 2023
|Final Course Group I|
May 2, 2023
May 4, 2023
May 7, 2023
May 9, 2023
|Final Course Group II|
May 11, 2023
May 13, 2023
May 15, 2023
May 17, 2023
|International Taxation – Assessment Test (INTT – AT)|
May 11, 2023
May 13, 2023
|Insurance and Risk Management (IRM) Technical Examination (Modules I to IV)||TBA|
The exam fee for ICAI CA Foundation, IPCC (Intermediate), and Final exams vary depending on the location and category of an aspirant. The exam fee(s) for different Chartered Accountancy course levels are as follows:
Intermediate Course Examination Fees
|For Indian Centre(s)|
|Single Group / Unit 4A to 10 (except Unit 8A & 9A)||INR 1500|
|Both Groups / Unit 8A / Unit 9A||INR 2700|
|For Overseas Centre(s) – Excluding Kathmandu & Bhutan Centre|
|Single Group / Unit 4A to 10 (except Unit 8A & 9A)||US$ 325|
|Both Groups / Unit 8A / Unit 9A||US$ 500|
|For Kathmandu & Bhutan Centre|
|Single Group / Unit 4A to 10 (except Unit 8A & 9A)||INR 2200|
|Both Groups / Unit 8A / Unit 9A||INR 3400|
Final Course Examination Fees
|For Indian Centre(s)|
|Single Group||INR 1800|
|Both Groups||INR 3300|
|For Overseas Centre(s) – Excluding Kathmandu & Bhutan Centre|
|Single Group||US$ 325|
|Both Groups||US$ 550|
|For Kathmandu & Bhutan Centre|
|Single Group||INR 2200|
|Both Groups||INR 4000|
|INTERNATIONAL TAXATION – ASSESSMENT TEST||INR 2000|
Foundation Course Examination Fees
|For Indian Centre(s)||INR 1500|
|For Overseas Centre(s) – Excluding Kathmandu & Bhutan Centre||US$ 325|
|For Kathmandu & Bhutan Centre||INR 2200|
Note: The Institute of Chartered Accountants of India (ICAI) Council has announced that there will be a late fee of INR 600 (for Indian, Kathmandu, and Bhutan Centers) and USD 10 (for Overseas Centers) for the submission of examination applications after the scheduled deadline. Applicants should be aware that the institute may decide to amend the costs listed above.
Beginning in May 2024, the Institute of Chartered Accountants of India (ICAI) will use its revised course format. The CA foundation course will have four question papers under the National Education Policy (NEP 2020), while the intermediate and final courses will have six question papers as opposed to the eight papers that were previously required.
A three year Articleship that was once required of CA students is now only required for two years. According to a statement from the ICAI, the new structure will become active starting in May 2024 and has been submitted to the Union government for approval. Additionally, the organization collaborated with the Institute of Singapore Chartered Accountants (ISCA) to create membership pathways that would enable ICAI members to become Associate Members of the ISCA.
A CA articleship is a 3 year practical training which is a part of the Chartered Accountancy course. The only difficulty students encounter in this articleship course is choosing the right place for the articleship. The Institute of Chartered Accountants of India (ICAI) mandates articleship as one of the necessary steps to become a Chartered Accountant. Articleship is a 3 year practical training programme. Articled Assistants, or just Articles, are candidates who pursue this training. The articled student receives in-depth instruction in the profession after being paired up with a Principal who is an ICAI member and has the authority to instruct articled students. The aspirant must spend the first two years of the training period working for a CA firm, which is a practicing Chartered Accountant. However, in the third year, students have the option of either continuing their studies under the guidance of a practicing Chartered Accountant or enrolling in industrial training with a CA who is currently employed in the industry. Although the Articleship training term lasts for three years, Chartered Accountancy students can sit for the Final Examinations once their 2.5 years of training are up.
Note: The ICAI has announced a draft CA Rules proposal to shorten the necessary articleship period to two years.
To apply for an Articleship, students must meet the CA Articleship eligibility requirements. For students going either through the Foundation Route or Direct Entry Route, there are different eligibility requirements as mentioned below:
According to the curriculum's present structure, a student from the CA Foundation Route must meet the following requirements in order to start their articleship:
However, Direct Entry Route candidates can begin the articleship after they meet the eligibility criteria listed below:
One of the most important steps in finishing the CA journey is the Articleship. Everyone must thrive in their individual fields in the current climate of intense rivalry, and articleships can provide the necessary practical exposure to a career. These are some significant lessons that can be learnt when completing an articleship and they are as follows:
Here we have outlined the comparison between the CPT route and the Direct Entry scheme in the Chartered Accountancy course.
|Particulars||CPT Route||Direct Entry Scheme|
|Eligibility||After Class XII|
After Graduation, or,
Passed the CS Executive exam, or,
Passed the CMA Intermediate exam
|Exemptions||No Exemptions||CPT Exempted|
|Minimum Duration||4.5 - 5 years||3 years|
|Eligibility to start Articleship||After clearing Group I of IPCC||Immediately on joining without clearing IPCC Group I|
|Eligibility to appear for IPCC||After 9 months of Study after CPT||After 9 months of Articleship|
The duration of the CA course for someone entering after class 12th via the CPT route is 4.5 -5 years. The minimum period of the Chartered Accountancy course for someone joining after graduating via the Direct Entry Scheme is 3 years.
One of the most challenging careers in business and finance is that of a Chartered Accountant. The competence of a company's CA is crucial to its financial stability since not only does he or she provide financial advice, but also looks out for and prevents fraud and other financial irregularities. A Chartered Accountant needs to have the following abilities to manage this extremely delicate business aspect:
|Objective and Rational||Critical Thinking Ability|
|Numeracy||Organizational and Time Management skills|
|General business interest and awareness||IT proficiency|
|Ethics and Professionalism||Eye for Detail|
|Discipline, Diligence and hard work||Conceptual understanding|
|Business Awareness||Analytical Skills|
|Analytical skills||Managing the tightrope walk|
|Ability to Accept Failures||-|
When a candidate combines the knowledge gained through CA subjects with other advanced courses, they gain leverage over different roles in a firm and can add more value to the organization. After completing the Chartered Accountancy course if a candidate wants to pursue further studies then the advanced courses mentioned below will definitely help them in skyrocketing their career. Not only that, these advanced courses after CA will help candidates in upgrading their skills and expertise in a particular field, thus improving their chances of employability even further along with aiding them in getting a pretty impressive starting pay package in any firm.
Candidates must check out the courses listed below which they can pursue upon successful completion of the CA course.
Investment banking is a special type of banking that offers financial advising services and helps individuals and organizations raise money. They act as a go-between for security issuers and investors and support start-up businesses in becoming publicly traded. There are different types of courses available in India like Certificate, Diploma, Undergraduate, and Postgraduate courses in the field of investment banking. Candidates can pick any of these courses as per their interests, career goals, time, and resources. Investment bankers are almost always employed in big firms with pretty lucrative salaries because of their skills and expertise.
The designation "Chartered Financial Analyst (CFA) charter" is offered to individuals who have successfully completed the CFA programme and met the necessary work experience requirements. The programme consists of a three-part exam that gauges candidates' knowledge of the basics of financial instruments, asset valuation, portfolio management, and wealth planning.
CFAs have excellent career prospects in India as well as abroad. They extensively encompass the whole financial sector. The Chartered Financial Analyst profession offers a wide range of job options as a professional qualification. For CFAs, India is regarded as the third-largest market.
A bachelor of law degree covers both 3-year and 5-year LLB programmes. Law graduates have a lot of opportunities to work for private companies all around the nation. They can decide to take on the role of legal counsel and assist the business in making legal decisions. For a successful career after receiving an LLB, one can additionally obtain an MBA if they are searching for a well paying position.
Financial Risk Management (FRM): FRM, short for Financial Risk Manager, is the only course that thoroughly examines every facet of risk management. The Global Association of Risk Professionals, or GARP, offers the title of Financial Risk Manager. Without a doubt, the FRM designation in risk management is widely respected. It also aids in gaining crucial expertise and knowledge of risk management in particular fields. Financial Risk Managers have quite high starting salaries ranging between INR 7,00,000 and INR 10,00,000.
The management, control, and review of money collection, investment, and resource management are all topics covered in the finance stream of an MBA. All prestigious MBA programmes in India offer MBA Finance as a specialization or optional course in the second year of the degree programme. A solid foundation in accounting and mathematics is necessary for an MBA in finance. There are many intriguing employment job choices available after receiving an MBA in Finance.
The acronym CPA stands for Certified Public Accountants. The American Institute of Certified Public Accountants (AICPA) administers the tests for CPA certification . Aspirants must pass the Unified CPA Examination in order to obtain this widely recognised title. The title of Chartered Accountant (CA) is similar to CPA in India. The programme is well-known and regarded as the pinnacle of education in the financial and accounting industries.
While domestic certification may only let you work in one country, enrolling in a CPA programme makes you a global citizen and increases your chances of being offered job possibilities by international businesses. The demand for a CPA is constant throughout the year due to the rise of more and more businesses and startups. Not to forget, the remuneration for a CPA professional is quite high.
Chartered Accountants or CAs have a variety of career opportunities, including starting their own business, working for private companies, and working for government organizations. For several reasons, including the requirement that every registered firm be required by the Company Act to employ a Chartered Accountant for handling various financial elements, there is also a great deal of security and opportunity for them in India. The types of positions available to Chartered Accountants in the private sector largely rely on the city and firm types. More career prospects in more complex and specialized skill sets are offered by large companies. The potential for growth of CAs also depends on keeping up with new and emerging technologies and practices.
Also, there are many work opportunities and a broad range of CA related roles in India. They have a variety of possibilities because they are in high demand across all industries. The opportunities for Chartered Accountants are expanding along with the growth of the Indian economy. The improvement in the economy is adding challenges for CAs to upgrade their knowledge and skills in the specialized domains of activities, along with expanding career prospects for them. Here are some of the Chartered Accountants' specialized roles:
The CA course fee for the foundation, Intermediate, and final course levels is mentioned below:
|Fee Details||Fee (in INR)||Fee for Foreign Students (in USD)|
|Foundation Registration Fee||9000||700|
|Students’ Journal Subscription (for 1 year) - Optional||200||20|
|Members’ Journal Subscription (for 1 year) - Optional||400||40|
|Fee Details||Both Groups (in INR)||Both Groups (in USD)||Group I/ II (in INR)||Group I/ II (in USD)|
|Students’ Activities Fee||2000||2000 (to be paid only once)|
|Registration Fee (as Articled Assistant)||1000|
Note: In addition to the above fees, direct entry students must also pay INR 200 (about $20) for the prospectus.
|Fee Details||For Indian Students (in INR)||For Foreign Students (in USD)|
|Final Registration Cost (without article)||22,000||1100|
The three levels of the Chartered Accountancy course are called Foundation, Intermediate, and Final Level. The tables mentioned below detail the CA syllabus and subjects covered in each level's papers. Chartered Accountancy aspirants must be aware of the curriculum covered at each level of the course to plan their preparation strategy for each level's examination.
There are four papers in the CA Foundation course. To graduate from this level of the Chartered Accountancy programme, one must pass all four papers. The table below lists the syllabus and subjects covered in the four papers of the Chartered Accountancy Foundation course:
|Paper 1||Principles and Practices of Accounting||100 Marks|
Business Law & Business Correspondence and Reporting
Business Law & Business Correspondence and Reporting
Business Economics & Business and Commercial Knowledge
There are two groups in the CA Intermediate course, and each group has four papers. To graduate from this level of the Chartered Accountancy programme, one must pass all eight papers. The table below lists the subjects and syllabus covered in the eight papers of the Chartered Accountancy Intermediate course:
|Paper 1||Accounting||100 Marks|
Corporate and Other Laws
Cost Accounting and Financial Management
|Paper 5||Advanced Accounting||100 Marks|
|Paper 6||Auditing and Assurance||100 Marks|
Enterprise Information System & Strategic Management
|Paper 8||Financial Management & Economics for Finance [Section A and Section B]||100 Marks|
There are two groups and eight papers in the CA Final course. To graduate from this level of the Chartered Accountancy programme, one must pass all eight papers. The table below lists the subjects and syllabus covered in the eight papers of the Chartered Accountancy Final course:
|Paper 1||Financial Reporting||100 Marks|
|Paper 2||Strategic Financial Management||100 Marks|
|Paper 3||Advanced Auditing and Professional Ethics||100 Marks|
Corporate Laws and Economic Laws
|Paper 5||Strategic Cost Management and Performance Evaluation||100 Marks|
|Paper 6 [Elective]||100 Marks|
Direct Tax Laws and International Taxation
Indirect Tax Laws
The CA course puts candidates' knowledge and skills to the test in order to determine whether they have what it takes to succeed as Chartered Accountants. The skill evaluations for the Chartered Accountancy course's three levels are listed below:
Candidates are judged on their application and comprehension skills at the Foundation level. The scoring matrix for the ICAI CA Foundation exam is shown below:
|CA Foundation Papers||Level I: Comprehension & Knowledge||Level II: Application Skills|
|Principles and Practice of Accounting||5%-20%||80% - 95%|
|Business Laws||50% - 65%||35% - 50%|
|Business Correspondence and Reporting||100%||-|
|Business Mathematics and Logical Reasoning & Statistics||-||100%|
|Business Economics||40% - 50%||50% - 60%|
|Business and Commercial Knowledge||100%|
Candidates are evaluated on their comprehension and application abilities in the Chartered Accountancy Intermediate course as well. The marking pattern for the ICAI CA Intermediate exam is shown below:
|CA Intermediate Papers|
Comprehension & Knowledge
Analysis & Application
|Accounting||5% - 15%||85% - 95%|
|Part I: Company Law||40% - 55%||45% - 60%|
|Part II: Other Laws||35% - 55%||45% - 65%|
|Cost and Management Accounting||20% - 30%||70% - 80%|
|Income Tax laws||5% - 20%||80% - 95%|
|Indirect Taxes||20% - 45%||55% - 80%|
|Advanced Accounting||5% - 15%||85% - 95%|
|Auditing and Assurance||30% - 55%||45% - 70%|
|Enterprise Information Systems||40% - 65%||35% - 60%|
|Strategic Management||50% - 70%||30% - 50%|
|Financial Management||20% - 30%||70% - 80%|
|Economics for Finance||60% - 80%||20% - 40%|
Candidates are evaluated on their comprehension, application, and evaluation skills in the Chartered Accountancy Final course. The scoring system for the ICAI CA Final Exam is provided below:
|CA Final Papers|
Comprehension & Knowledge
Analysis & Application
Evaluation & Synthesis
|Strategic Financial Management||10%-20%||20%-40%||50%-60%|
|Advanced Auditing and Professional Ethics||15%-25%||40%-70%||20%-30%|
Corporate & Economic Laws
Part I: Corporate Law
|Part II: Economic Laws||30%-50%||50%-70%|
|Strategic Cost Management and Performance Evaluation||10%-15%||45%-55%||35%-40%|
Direct Tax Laws & International Taxation
Part I: Direct Tax Laws
|Part II: International Taxation||40%-50%||50%-60%|
Indirect Tax Laws
Part I: Goods and Services Tax
|Part II: Customs & FTP||20%-40%||40%-70%|
We have made the job easy for you and have compiled a list of some of the best books for the CA preparation at all the three levels of the course listed below:
The following are a few of the top and most suggested books for the CA foundation:
The top books for CA Intermediate include the following:
The top recommended books for CA Final include the following:
Together with practical skills in management, analysis, and business strategy, an MBA offers a wide range of job options in a number of business-related fields. Chartered accountancy, on the other hand, deals with specialization in all accounting and financial fields. A candidate may find it difficult to decide between an MBA and a CA if they have a particular interest in the finance sector. It can be difficult to decide between becoming a CA (Chartered Accountant) and an MBA (Master of Business Administration), especially if you're unsure of what you want to do for a living. So that you may make a more educated choice, we will compare and contrast the two degrees here.
Chartered Accountancy or CA Course
Master of Business Administration
Institute of Chartered Accountants of India (ICAI)
Entrance Exam Offered
Common Proficiency Test
Common Admission Test (CAT)
Xavier Aptitude Test (XAT)
Management Aptitude Test (MAT)
Other Institute level tests/ exams
The total course fees for all the three levels of the CA course is around INR 50,000.
Note: The course fee includes both groups of the CA Inter course level.
Total average course fees for an MBA course in India ranges between INR 2,00,00 - INR 15,00,000
For CPT route candidates, the CA course lasts 4.5 - 5 years and for Direct entry candidates CA course lasts 3 years.
The MBA programme lasts for a total of 2 years.
Postgraduate degree programme
The ICAI CA course focuses on imparting in-depth knowledge to students about Accounting, Economics, Finance, and Taxation, etc.
MBA programme’s core focus is on corporate administration and management.
It is an economical course. Compared to an MBA degree, the total cost of a CA certification is far lower.
If you want to study it at a Top B-School like XLRI, IIMs, etc., it will be quite expensive. MBA degrees are generally very expensive in India as well as abroad.
Only 3 - 15% of candidates out of 100 are able to qualify all the Chartered Accountancy levels and receive a CA certification.
Most of the candidates who get admitted to the course, pass each semester without much difficulties and are offered lucrative job opportunities, especially if they have passed from some reputed institutes in India.
CA career options have a narrower scope as compared to an MBA degree. A CA only has scope in finance, auditing, taxation, and accounting domain.
MBA graduates have a wider job opportunities due to a broad spectrum of skills in business and management.
CA are offered handsome salaries in India ranging from INR 5,00,000 to INR 20,00,000
MBA graduates receive a starting average annual pay ranging from INR 4,00,000 - INR 7,00,000 in India.
Articleship period of 3 years
Mandatory internship of 3 - 6 months
Moderate to Difficult
Chartered Accountancy and Company Secretary are two popular courses offered in the Commerce stream. After 12th Commerce, both CA and CS are often chosen courses, and their course material and professional job profiles are typically seen to be connected. The Chartered Accounting degree and the Company Secretary course, despite their apparent similarity, are two distinct programmes that concentrate on various aspects of an organization. These are also recognised as the most challenging exams in India.
In terms of the course content, length, academic levels, available jobs, etc., both of these programmes differ greatly from one another. The table below lists the key points where CA and CS differ from one another.
|Particulars||CA||Company Secretary (CS)|
|Conducting Body||Institute of Chartered Accountants of India (ICAI).||Institute of Company Secretaries of India (ICSI).|
|Who is it for?||Applicants with a strong foundation in mathematics and logic||Applicants who favor theory and the company laws|
CA course has 3 levels:
Note: Aspirants may also follow the direct entry method.
CS course also has 3 levels:
Note: Exempted candidates may also take direct admission to the CS Executive course
|Course Duration||4.5 - 5 years||3 - 4 years|
|Entrance Exam||Chartered Accountancy Common Proficiency Test||Company Secretary Executive Entrance Test|
For CPT Route:
For CA Direct Entry Route:
|Average Annual Salary||Rs. 5,00,000 - 20,00,000||Rs. 3,00,000 - 15,00,000|
|Employment Opportunities||Accounting, Independent professional practice, Consultancy companies, Taxation, Auditing, Large organizations, Capital market services, Financial companies, Consultancy companies, Large organizations, Chartered Accountant firms, etc.||Public Relations, International Trade and WTO, Corporate Governance, Company Law Advisor, etc.|
Despite the fact that the CA and CMA curricula share a lot of similarities. The exam syllabuses for the CMA and the CA are quite dissimilar. The main areas of focus for the CA programme include accounting, law, audit, taxation, and finance. In contrast, the CMA course covers organizational management, corporate finance, internal controls, cost management, cost accounting, economics, and more.
Entrance exam i.e CPT is mandatory for class 12th students to enroll in the CA Foundation programme.
You can apply for the CMA programme if you have completed your class 12th from a recognized school board in India/ Undergraduate degree in any field other than the fine arts/ or you have passed the ICSI Foundation/ ICAI Inter exams.
The CA course levels are as follows:
The CMA course structure is as follows:
The total CA course fees is around INR 50,000
The overall CMA course fees comes around INR 54,100 for all the three levels of the course.
CA course duration through CPT route is 4.5 - 5 years and after graduation it is 3 years.
The CMA course duration is for a period of 3 years
A Chartered Accountant may earn an average salary of approximately 6 - 7 lakhs right after course completion. A rank holder's salary may exceed INR 25, 00,000 per annum
The typical compensation for a CMA ranges from Rs. 5 - 7 lakhs and rises over time with skills and experience.
CA job opportunities include the following:
CMA job profiles include the following:
Chartered Accountants can be employed by both individuals and businesses. The market has a very strong need for CAs.
Only big businesses must employ CMAs. They therefore have relatively little demand.
The Association of Certified Chartered Accountants is known by the initials ACCA. The candidates mostly deal with the rules and regulations that apply to a corporation and how those rules and regulations are put into practise. They also combine with the Auditing and Taxes component. The Institute of Chartered Accountants of India awards the CA degree in India. At the level of Gazette Officer, CA collaborates with both the government and a private company. For Accounts and Finance professionals who are passionate about a career in Accounting, Taxes, Auditing, and Finance, both CA and ACCA are highly qualified finance programmes.
Let’s take a comparative look at both of these courses to clear your confusions and help you in making an informed decision if you are someone who is ruminating on choosing between the two courses for your professional career path.
|About the Course||The full name of ACCA, which is accredited by the Association of Chartered Accountants, is Association of Certified Chartered Accountants. Applicants who complete the course successfully are qualified for positions in auditing, taxation, management accounting, handling accounts, etc., for both public companies and private organizations.||The abbreviation CA stands for Chartered Accountant, a profession that focuses on financial accounting and finance while serving all financial disciplines. The Institute of Chartered Accountants of India bestows the degree. Candidates are given access to numerous disciplines in accounting and finance after completing the exam.|
|Nature of Job||The main task is to audit taxation and accounting for the general public, private entities, etc. Before being inspected by public and private bodies, candidates had to pass the exam and obtain the certifications. In addition to taxation and auditing, ACCA is capable of working internationally in any area of finance, including finance controlling, accounting, and financial analysis. International Accounting Standards are dealt with by ACCAs.||Chartered Accountants generally work in private companies and government organizations in a variety of finance positions. With the aid of their own registration number, they are able to operate for their own business. Since the Indian Institute of Chartered Accountants awards the degree, the certificates are primarily recognised throughout India. Outside of India, the Degree is not recognised. They mostly deal with GAAP and IAS as accounting standards.|
|Time Duration||The ACCA programme lasts three years for students who have finished their 12th grade, 2 - 2.5 years for Commerce graduates, two years for IPCC groups, and one year for BCom and CA graduates.||The CA course lasts 4.5 - 5 years for 12th passed students and 3 years for graduation/ post graduation/ CMA or CS Intermediate/ Executive level passed candidates.|
|Duties and Responsibilities||Chartered Certified Accountants largely work on the Auditing and Taxes portion, which combines with the rules and regulations and policy implementations within a corporation.||CA collaborates with both the government and a commercial company as a Gazetted Officer. The ICAI grants the power of attorney to CAs.|
|Certification Availability||Candidates must complete all the 3 levels of the course along with the mandatory work experience of at least 3 years in a finance or accounting related role(s).||Applicants must complete all the 3 levels of the course along with a mandatory articleship training of 3 years after the completion of CA Intermediate course level (either Group I or both Group I and II).|
The following are the eligibility criteria for the ACCA course:
The CA eligibility criteria is as follows:
For CPT Route
For Direct Entry Route
|Recognition||ACCA qualification is globally recognized in more than 180 countries like Canada, Singapore, UK, UAE, etc.||ICAI CA qualification is only recognized in India, Singapore, Qatar, Saudi, and UAE.|
Chartered Accountants act as business advisors in high-level strategic decisions such as increasing market share for clients or employers and improving profit margins. Aside from that, many CAs start their businesses and become highly successful entrepreneurs.
Below is a list of top industries for Chartered Accountants:
Also Read: Career as Chartered Accountant
The following table provides the average annual salary of a CA in India based on various job profiles.
|Job Profile||Average Annual Salary (INR)|
|Auditor||4 - 10 LPA|
|Finance Officer||5 - 10 LPA|
|Accountant||4 - 8 LPA|
|Finance Controller||6 - 20 LPA|
|Accounting Manager||5 - 9 LPA|
|Finance Manager||4.5 - 10 LPA|
Many CAs practice independently, while a majority of them also join reputable business organizations after completing the course. Mentioned below are some of the top organizations hiring chartered accountants.
|Hindustan Unilever Ltd||Deloitte|
|Aditya Birla Sun Life||ICICI Bank|
|Bharti Airtel||SBI Bank|
|Kotak Mahindra||Ernst And Young|
Chartered accountants are professionals who work in a range of economic sectors, managing the finances of a business, offering financial counsel, and assisting with money management. A chartered accountant’s services are not just limited to a firm, it could also include persons and the government.
The ICAI new scheme 2023 has introduced changes in the number of papers available at each level of the CA course and the duration of the Articleship is also altered. The CA new course will come into effect from May 2024. As per the new scheme, there will be 4 papers in the Foundation level, 6 papers (3 in each group) in the Intermediate and Final level of the course. The articles will now be able to complete the articleship in only 2 years.
The CA New Scheme 2023 states that in order to be eligible to start the articleship training, students must successfully complete both the ICITSS training and the CA Intermediate group exams. The student will benefit from the adjustment because it allows them to totally focus on their practical training without having to worry about exam preparation.
Yes, interested candidates may join CA course online classes provided by various institutions across India. The CA online sessions cover each and every topic that is mandated by the ICAI approved syllabus. All the lessons, lectures, tips, training, tutorials, etc. are provided to students who sign up for CA online classes on an encrypted pen drive or google drive. The facility of online live lectures is also provided by quite a few training institutes in the country.
Every company or organization that registers under the Companies Act has a CA appointed who oversees Financial Reporting, Tax Consulting, Accounting Services, Auditing & Assurance, and Accountants & Finance Outsourcing. For a CA, there are many job options both in the present and in future. CAs play a pivotal role in maintaining the financial balance of any firm and there are even more startups that will go large in the near future requiring CAs to handle the finances, therefore, future growth projections indicate that by 2025, demand for Chartered Accountants (CAs) will increase manifolds.
To pass each level of the CA, students must receive at least 40% on each paper and more than 50% in each group of the CA course levels.