Career in Chartered Accountancy: Career Path, Jobs and Relevant Skills

Career in Chartered Accountancy

Deemed as one of the toughest jobs out there, Chartered Accountancy (CA) is still popular among Commerce students. The job involves managing finance for an entity, like financial accounts, budgeting, auditing, business strategy, and taxation. They work in various sectors of the economy, providing financial advice and helping out with money management. They can be working for an individual, a business, or even the government.

The singular difference between an accountant and a chartered accountant is that CA’s have gone through years of in-depth training which has prepared them for job-specific situations, and have cleared several examinations that earned them the title of a chartered accountant.

Before understanding it any further, one should keep in mind that becoming a chartered accountant is very tough, and it requires a lot of hard work and dedication. If you’re not mentally prepared for taking up the course and eventually the job, then don’t pursue it. Half-hearted efforts might get you through the 5 years of the course, but it won’t make you good at the profession itself.

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The most straight-forward reason to pursue this path is that there is a lot of money here. It’s a very well paid and secured profession. Every organization needs a person to handle their finance and chartered accountants are the go-to people, so you’ll never run out of opportunities if you show potential. You will have to stay updated about the happenings within the world of finance, which means constant studying and learning is required. There are deadlines that you’ll need to meet which would automatically lead to longer working hours and stressful environments. So it’s important that you ask yourself if you’re really up for this kind of job if it even fits your overall personality.

Career in Chartered Accountancy – Eligibility

Students who wish to pursue this profession right after school can essentially go for CA with any of the three streams, but non-commerce students must have a 60% aggregate including mathematics or a 55% aggregate without mathematics. You can also pursue the course after having done any undergraduate course. It will be helpful to have certain skills like numerical ability, logical and methodical approach, understanding of a socio-economic environment in which organizations operate, good verbal and written expression, and an ability to deal with all kinds of people. Below is a brief list of tests/levels you need to clear :

• CA Foundation course (previously known as CPT or Common Proficiency Test)

• Integrated Course on Information Technology and Soft Skills (ICITSS)
• CA Intermediate (previously known as IPCC or Integrated Professional Competence Course)
• Articleship (3-years training)
• Advanced Integrated Course on Information Technology and Soft Skills (AICITSS)
• FC (Final course)

Career in Chartered Accountancy: Requirements

Following are the requirements officially released by the Institute of Chartered Accountants of India (ICAI) to become a Chartered Accountant:

• Through the Foundation Course route:
• Enroll for Foundation Course after appearing in Class 12th Examination conducted by an examining body, constituted by law, in India or an examination recognized by the Central Government as equivalent thereto.
• Complete four months Study Period. Register till 30th June/ 31st December for being eligible to appear in November/May Foundation Course Examination.

• Appear in Foundation Examination after passing in the Senior Secondary Examination (10+2 examination).
• Join Intermediate Course after passing the Foundation Examination.
• Undergo Four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS) consisting of Courses on Information Technology and Orientation Course at the earliest but these are to be completed compulsorily before commencement of their articleship.
• Appear for Intermediate Examination on completion of 8 months of the study course on the first day of the month in which the examination is to be held.
• Join articled training after passing either of the Group or Both Groups of Intermediate Course and after successfully undergoing ICITSS.

• Clear the balance Group (if any) of Intermediate Examination.
• Register for Final Course.
• Successfully undergo four weeks of Advanced Integrated Course on Information Technology and Soft Skills (AICITSS), consisting of Courses on Advanced Information Technology and Management Communication Skills during the last two years of practical training.
• Appear in the Final Examination on completion of the practical training or while serving the last 6 months of articled training on or before the last day of the month preceding the month in which the examination is to be held after successful completion of AICITSS.
• Complete articled training of 3 years.

• Pass Final Examination.
• Enroll as a member of the ICAI and be designated as a "Chartered Accountant".

Through Direct Entry route:

• Commerce Graduates / Post-Graduates with 55% aggregate or Other Graduates / Post-Graduates with 60% aggregate :

• Enroll with the Institute for Intermediate Course.
• Undergo four weeks of Integrated Course on Information Technology and Soft Skills (ICITSS) consisting of Courses on Information Technology and Orientation Course before the commencement of their articleship.
• Register for Practical Training for three years.
• Appear in Intermediate Examination on completion of 9 months of Practical Training, on the first day of the month in which the examination is to be held.
• Appear and pass in both groups of Intermediate Examinations.

• Register for CA Final Course.
• Successfully undergo four weeks of Advanced Integrated Course on Information Technology and Soft Skills (AICITSS), consisting of Courses on Advanced Information Technology and Management Communication Skills during the last two years of practical training.
• Appear in the Final Examination on completion of the practical training, or while serving the last 6 months of articled training on or before the last day of the month, preceding the month in which the examination is to be held after successful completion of AICITSS.
• Complete articled training of 3 years.
• Pass Final Examination.

• Enroll as a member of the ICAI and be designated as "Chartered Accountant"
• Candidates who have passed Intermediate level examination of Institute of Company Secretaries of India or Institute of Cost Accountants of India
• Enroll with the Institute for Intermediate Course.
• Undergo four weeks of Integrated Course on Information Technology and Soft Skills (ICITSS) consisting of Courses on Information Technology and Orientation Course at the earliest but these are to be completed compulsorily before commencement of their articleship.
• Appear in Intermediate Examination on completion of 8 months of study course, on the first day of the month in which the examination is to be held.

• Join articled training after passing either of the Group or Both Groups of Intermediate Course and after successfully undergoing ICITSS.
• Clear the balance Group (if any) of Intermediate Examination.
• Register for Final Course.
• Successfully undergo four weeks of Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) consisting of Courses on Advanced Information Technology and Management Communication Skills during the last two years of practical training.
• Appear in the Final Examination on completion of the practical training, or while serving the last 6 months of articled training on or before the last day of the month, preceding the month in which the examination is to be held after successful completion of AICITSS.

• Complete articled training of 3 years.
• Pass Final Examination.
• Enroll as a member of the ICAI and be designated as "Chartered Accountant".

• Provisional Registration: Candidates who are pursuing the Final year of Graduation Course shall be eligible for provisional registration to the Intermediate Course. Such candidates would be required to submit satisfactory proof of having passed the graduation examination with the specified percentage of marks within such period, not exceeding six months as from the date of appearance in the final year graduation examination. During the period of provisional registration, the candidate can undergo and complete ICITSS. It is clarified that in their case, the practical training will commence only on becoming a graduate with a specified percentage of marks. Such candidates shall be eligible for appearing in the Intermediate Examination on completion of nine months of practical training. If such candidates fail to produce the proof within the aforementioned period, his provisional registration shall be cancelled and the registration fee or the tuition fee, as the case may be, paid by him shall not be refunded and no credit shall be given for the theoretical education undergone.

Career in Chartered Accountancy: Curriculum

Foundation Level

Paper 1 Paper 2 Paper 3 Paper 4 Principles and Practice of Accounting Business Laws & Business Correspondence and Reporting

Section A: Business Laws

Section B: Business Correspondence and Reporting

Business Mathematics and Logical Reasoning & Statistics

Part 1: Business Mathematics and Logical Reasoning

Part 2: Statistics

Business Economics & Business and Commercial Knowledge

Part 1: Business Economics

Part 2: Business and Commercial Knowledge

Intermediate Level

Group 1 Group II Paper 1: Accounting Paper 5: Advanced Accounting Paper 2: Corporate and other Laws

Part 1: Company Law

Part 2: Other Laws

Paper 6: Auditing and Assurance Paper 3: Cost and Management Accounting Paper 7: Enterprise Information Systems & Strategic Management

Section A: Enterprise Information Systems

Section B: Strategic Management

Paper 4: Taxation

Section A: Income Tax Law

Section B: Indirect Taxes

Paper 8: Financial Management and Economics for Finance

Section A: Financial Management

Section B: Economics for Finance

Final Level

Group 1 Group II Paper 1: Financial Reporting Paper 5: Strategic Cost Management and Performance Evaluation Paper 2: Strategic Financial Management Paper 6: Elective Paper

List of Elective Papers :

6A Risk Management

6B Financial Services and Capital Markets

6C International Taxation

6D Economic Laws

6E Global Financial Reporting Standards

6F Multi-disciplinary Case Study

Paper 3: Advanced Auditing and Professional Ethics Paper 7: Direct Tax Laws & International Taxation

Part 1: Direct Tax Laws

Part 2: International Taxation

Paper 4: Corporate and Economic Laws

Part I: Corporate Laws

Part II: Economic Laws

Paper 8: Indirect Tax Laws

Part 1: Goods and Services Tax

Part 2: Customs and FTP

Career in Chartered Accountancy: Top Institutes

Jain University, Bangalore Bangalore Institute of Management & Science International School for Financial Studies GITAM Institute of Management, Visakhapatnam ISBM- Indian School of Business Management and Administration, Hyderabad, Delhi, Kolkata, Chennai IMS Proschool, Andheri West IMS Proschool, Hyderabad

Career in Chartered Accountancy: Top Recruiters in India

Bajaj Finserv & Group ICICI Bank SS Kothari Mehta & Co Kotak Mahindra TR Chadha & Co HDFC Bank JS Sundaram & Co Janalakshmi Federal Bank Suresh Surana & Asso LLP State Bank of India S. Aiyar & Co RBL Bank RM Rajapurkar & Co Lodha & Co Axis Bank Diwan Chopra & Asso Standard Chartered Luthra & Luthra IDFC Bank

Career in Chartered Accountancy: Relevant Future Path

Chartered Accountancy is a finance-related course, so if you wish to broaden your qualifications, you should do a course which helps you to grow as a finance professional. CA is like a dream course that gives you multiple career options. Following are some of the courses you can pursue if you still have the energy and heart to study more :

• Company Secretary (CS) – The CA+CS combination is great for grabbing opportunities at top management levels. With this additional qualification, you can easily handle or administer secretarial work or department, along with managing account-related work.

• Chartered Financial Analyst (CFA) – CA+CFA is a good combination, in case you have an interest in investment banking and portfolio management. This is a popular course in India and the USA.
• Certified Information System Auditor (CISA) – CISA is a globally recognized designation that will be designated after passing out the certification program of ISACA (Information Systems Audit and Control Association). CISA designation will showcase your knowledge of IS audit and experience on handling vulnerabilities.
• Cost and Management Accounting (CMA) – Having a qualification from the Institute of Cost Accountants of India will prove that you are professionally qualified to handle various costing matters. You can also pursue CMA along with the CA course with written permission from the CA institute. This course is also popular in the UK.
• ICAI offers various certificate and diploma courses like –
• Insurance and Risk Management

• International Trade Laws and World Trade Organization
• Management Accountancy Course
• Corporate Management Course
• Tax Management Course
• International Taxation

• Association of Chartered Accountants (ACCA) – It is a global profession recognized in more than 180 countries. This course offers the knowledge of UK GAAP (Generally Accepted Accounting Practice) and laws, and also certifies you to practice as a CA in various countries. Although you need a CA degree to practice in India, ACCA along with CA offers you immense growth if you wish to serve an MNC in the future or want to settle abroad.

Career in Chartered Accountancy: Different but relevant path

• MBA
• MBA in Finance

[For students seeking admissions in Indian universities, you’ll have to appear for certain entrance examinations like CAT and CMAT. For universities abroad, students only need to appear for GRE or Gmat.]

Career in Chartered Accountancy: Relevant but different path

Civil Services

The Civil Services Examination is a nationwide competitive examination conducted by the Union Public Service Commission (UPSC) for recruitment to various civil services of the Government of India, including the Indian Administrative Service (IAS), Indian Forest Service (IFS), and Indian Police Service (IPS).

The State Civil Services examinations and recruitment are conducted by the individual states public service commissions in India. These services are feeders of All India Services.

We hope this is going to be helpful if you are planning to pursue a Career in Chartered Accountancy. For more guidance, feel free to connect with us and provide your feedback as well.

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