I’d be happy to walk you through the steps involved in becoming a Chartered Accountant (CA) in India, emphasizing important milestones and using simple, straightforward language.
Qualifications:
- 50% at least in Class 12 (Commerce, Science, or Arts) or 55% upon graduation from any stream (non-Commerce).
Step-by-Step Process:
CA Foundation:
After graduating, either register with the Institute of Chartered Accountant of India (ICAI) or complete nine months of practical training.
Learn about Business Laws & Ethics, Business Economics & Statistics, Business Communication & Information Technology, and Principles & Practices of Accounting.
Pass the Foundation Test in three tries.
CA Intermediates:
Register following clearance from the Foundation.
Participate in an eight-month Integrated Competency Improvement Program (ICIP) that focuses on soft skills, IT, and communication.
Study eight courses: Accounting, Taxation, Auditing & Assurance, Corporate Law & Secretarial Practice, Cost Accounting & Financial Management, Information Technology & Strategic Management, Management Accounting, and Elective Paper (select one from Risk Management, Internal Audit, or International Financial Reporting).
In five tries, eliminate both groups (four subjects each).
Articleship:
After approval, register with ICAI in the Intermediate Group.
For practical experience, obtain a three-year articleship with a licensed chartered accountant.
Within a year, finish the 4-week Integrated Course on Information Technology & Soft Skills (ICITSS).
Comply with the requirements for practical training with diligence and moral behavior.
CA Final:
After finishing your ICITSS and articleship, register.
Study the following seven subjects: Corporate & Economic Laws, Indirect Tax Laws, Advanced Auditing & Professional Ethics, Financial Reporting, Strategic Financial Management, Direct Tax Laws, and Elective Paper (select one from Forensic Accounting & Fraud Detection, Management Consultancy, or International Taxation).
Clear both groups (four subjects each) within six attempts
Membership
After passing the final exam and receiving a clean character report, apply for ICAI membership.
To keep your CA status, you must complete continuing professional education (CPE) requirements and attend required orientation programs.
Time, Cost, and Passing Rates for Become a Certified Public Accountant in India (simplified)
Time needed to finish:
The CA program in India takes five years to finish on average. This comprises:
The Foundation stage takes a year.
The Intermediate stage takes two years, including an articleship.
Two years to complete the final phase Recall that this is only an estimate and that the actual time will depend on your speed, how many times you take the exam, and how long your articleship is.
Package (approximate price):
The total cost of becoming a certified public accountant (CA) can vary greatly based on expenses for personal use, coaching institute fees, and location. This is a ballpark estimate:
- Basis: ₹10,000
- Intermediate: ₹45,00 (which includes stipend for an articleship)
- Total: ₹25,000
- Additional costs (textbooks, etc.): ₹50,000
- In total: about ₹13,000.
Percentages of passing (as of 2023):
It can be difficult to pass the CA exams, with historically low passing rates:
- 15% for the foundation
- In between: 8%
- 5% in the end Recall that the actual passing rates may vary; these are only averages
Important Points:
Actual expenses and passing rates may vary from these estimates.
Planning and research are essential.
Success comes from hard work, dedication, and smart strategies Develop essential soft skills like teamwork, leadership, and problem-solving
Salary Structure of CA:-
In India, a chartered accountant’s (CA) pay is contingent upon a number of factors, such as:
Experience: While seasoned professionals can command salaries of up to ₹20–25 lakhs annually, fresh graduates usually make ₹6–9 lakhs.
Location: Compared to smaller towns, metropolitan areas like Bangalore, Delhi, and Mumbai offer higher salaries.
Employer: MNCs and the Big 4 accounting firms typically offer higher salaries than solo practitioners or smaller businesses.
The following are some approximate ranges for CA pay in India:
Newcomers: ₹6–9 lakhs annually
Professionals in the middle: ₹10–20 lakhs annually
Senior experts: ₹20–40 lakhs annually
Meaning of ICITSS:
An Integrated Course on Information Technology and Soft Skills is known as ICITSS. For those in India who want to become chartered accountants (CAs), this is a required training program.
What ICITSS entails is broken down as follows:
Components:-
This 15-day course on information technology covers fundamental computer skills, operating systems, spreadsheets, word processing, presentations, email correspondence, internet usage, and basic accounting software.
Purpose:
The goal of the ICITSS is to give CA candidates the IT and soft skills they need to succeed in the contemporary workplace. It benefits them:
Recognize and apply technology to accounting and finance tasks in an efficient manner.
Engage in professional and assured communication with stakeholders, colleagues, and clients.
Gain valuable soft skills such as problem-solving, teamwork, and leadership.
Important points:-
After passing the CA Intermediate exam, ICITSS is finished.
Centers approved by the ICAI will run the 4-week (30-day) program.
In order to pass the online/OMR test and finish the course, you must attend 90% or more of the scheduled classes. Upon completion, a certificate is granted, and this is a prerequisite for applying for a CA articleship.