CA COURSE DURATION

Institute of Chartered Accountants of India (ICAI) offers the Chartered Accountancy course. CA is a globally in-demand professional course. Chartered accountants work in all fields of business and finance, including auditing, taxation, financial and general management.

The Chartered Accountant (CA) course in India is a professional program that can take up to 4.5 years to complete. The duration of the course depends on the level and the time it takes to prepare for and pass each exam. 

The CA course curriculum is structured into three stages- Foundation, Intermediate, and Final. Besides theoretical knowledge, practical training through Articleship is an essential part of the course, providing hands-on experience. 

The CA course is structured as follows:

1. CA Foundation:

This is the first stage of the CA course. To be eligible for the CA Foundation level, students must also register under the Board of Studies [BOS] portal and complete a four-month study period.

The foundation course covers four subjects: Accounting , Business Laws, Quantitative Aptitude and Business Economics. It aims to introduce basic concepts of accounting, economics, and business laws

The exams are held thrice a year. Results are announced about two months after the exam. Students must pass individual papers by scoring a minimum of 40% & obtain 50% in aggregate to clear the exam.

2. CA Intermediate: 

Once you clear the CA Foundation exam, you can register for the CA Intermediate course. 

Or, through direct entry, without giving CA Foundation exam, one can register for CA Intermediate course. To be eligible for registering through direct entry route, one should graduate from any stream with specified marks (minimum of 55% marks in graduation or post-graduation if you have a commerce degree, or a minimum of 60% marks if you have a non-commerce degree)

This stage usually takes about 9 months to complete. The CA Intermediate syllabus is divided into two groups, each comprising three subjects. Group 1 includes: Advanced Accounting, Corporate and other Laws & Taxation. Group 2 includes: Cost and Management Accounting, Auditing and Ethics & Financial and Strategic Management.  

Students must pass individual papers by scoring a minimum of 40% & obtain 50% in aggregate to clear each group. If one scores 60% or above in a paper, he/she is eligible for an exemption, provided he/she appeared for all papers in a group. Exemptions are valid up to 3 exams.

The exam is also held thrice a year. Results are announced about two months after the exam. 

3. ICITSS

After registering for CA Intermediate & before joining for the Articleship training, one should complete the course consisting of Information Technology Training & Orientation Course.

4. Articleship training

This is a mandatory two-year training period after completing the CA intermediate and ICITSS.

5. Self-paced online modules: 

   Accordingly, the Scheme of Education and Training has introduced four self-paced online modules [Set A, B, C and D] encompassing different fields. As the name suggests, students can learn and qualify for the modules at their own pace after qualifying the Intermediate-level examination.

6. AICITSS:

A student is required to complete successfully Advanced Integrated course on IT & Soft skills after the end of practical training but before appearing in Final level Exam.

7. CA Final:

   This is the final stage of the CA course. This level is divided into two groups, with three papers in each group. First Group consists of Financial Reporting, Advanced Financial Management & Advanced Auditing. Second Group consists of Direct Tax Laws, Indirect Tax Laws & Integrated Business Solutions. 

Students must pass individual papers by scoring a minimum of 40% & obtain 50% in aggregate to clear each group. If one scores 60% or above in a paper, he/she is eligible for an exemption, provided he/she appeared for all papers in a group. Exemptions are valid up to 3 exams.

The ICAI conducts the CA Final exams twice a year, in May and November. 

Duration of CA Course After 12^th grade:

The minimum duration is 4.5 years, which includes the CA foundation course, Intermediate Course, Final Course, and mandatory articleship training.

Duration of CA Course After graduation:

The minimum duration is 3 years through the direct entry scheme.

Chartered Accountants (CAs) are known for their versatility in career paths. Here are some examples:

1. Public Accounting Firms: CAs can work in public accounting firms, such as Big Four firms (Deloitte, EY, KPMG, PwC), mid-tier firms, or small practices, providing audit, tax, and consulting services to clients.

2. Industry and Commerce: CAs can work in various industries, such as finance, banking, manufacturing, healthcare, and technology, in roles like financial controller, chief financial officer, or financial planning and analysis manager.

3. Government and Public Sector: CAs can work in government departments, such as taxation, audit, and finance, or in public sector organizations, like state-owned enterprises or regulatory bodies.

4. Consulting: CAs can work in management consulting firms, providing strategic advice to clients on finance, operations, and organizational improvement.

5. Investment Banking and Finance: CAs can work in investment banks, private equity firms, or venture capital firms, advising clients on mergers and acquisitions, capital raisings, and other financial transactions.

6. Taxation: CAs can specialize in taxation, working in tax consulting firms or as in-house tax experts in industry and commerce.

7. Audit and Assurance: CAs can work in audit and assurance firms, providing audit and assurance services to clients, or as in-house auditors in industry and commerce.

8. Financial Planning and Wealth Management: CAs can work in financial planning and wealth management firms, providing advice to individuals and families on financial planning, investment, and wealth management.

9. Academia and Research: CAs can work in academia, teaching and researching in accounting and finance, or in research institutions, conducting research on accounting and finance topics.

10. Entrepreneurship: CAs can start their own businesses, providing accounting, tax, and consulting services to clients, or venture into other industries, leveraging their accounting and finance expertise. CAs can specialise their practice in different areas such as:

1. Insolvency and Restructuring: Specializing in insolvency and restructuring, including bankruptcy, liquidation, and turnaround management.
2. Forensic Accounting: Focusing on forensic accounting, including investigation of financial crimes, dispute resolution, and litigation support.
3. International Taxation: Specializing in international taxation, including transfer pricing, tax treaties, and cross-border taxation.
4. Corporate Finance: Focusing on corporate finance, including mergers and acquisitions, capital raisings, and financial modeling.
5. Risk Management: Specializing in risk management, including identification, assessment, and mitigation of financial and operational risks.
6. Internal Audit: Focusing on internal audit, including risk-based auditing, control evaluation, and process improvement.
7. Information Technology: Specializing in information technology, including IT audit, IT risk management, and IT consulting.
8. Sustainability and Environmental Accounting: Focusing on sustainability and environmental accounting, including reporting, assurance, and advisory services.
9. Valuation and Business Modeling: Specializing in valuation and business modeling, including financial modeling, valuation of businesses, and intangible assets.
10. Financial Analysis and Planning: Focusing on financial analysis and planning, including financial statement analysis, budgeting, and forecasting

These are just a few examples of the many career paths available to CAs. The skills and knowledge gained through the CA qualification can be applied to a wide range of roles and industries, making CAs highly versatile professionals.

CA Salaries in India

The average salary of a CA in India ranges from ₹6.7 lakhs to ₹30 lakhs per annum. The highest salary package offered to a CA in India is around ₹34.5 lakhs per annum, with some international postings offering up to ₹76.32 lakhs per annum. CA freshers can expect salaries between ₹6-9 lakhs per annum, while those who clear the CA final exam in their first attempt can earn between ₹11-15 lakhs per annum.

Top recruiters for CAs in India include ICICI Bank, KPMG, Deloitte, Infosys, and Vedanta Limited.

CA Salaries Based on Designation

- Finance Officer: ₹35 lakhs per annum

- Account Executive: ₹25 lakhs per annum

- Accountant: ₹25 lakhs per annum

- Finance Controller: ₹19 lakhs per annum

- Finance Manager: ₹10 lakhs per annum

- Financial Analyst: ₹6 lakhs per annum

CA Salaries Based on Experience

- 0-5 years: ₹7 lakhs per annum

- 5-10 years: ₹12 lakhs per annum

- 10-20 years: ₹20 lakhs per annum

- Above 20 years: ₹50-70 lakhs per annum

CA Salaries Abroad

CAs working abroad can earn significantly higher salaries, with some companies offering up to ₹52 lakhs per annum in Singapore and ₹56 lakhs per annum in Dubai.

Candidates who are interested in financial fields such as taxation or who want to independently launch their practice can also pursue the Chartered Accountant course. The students who need to pursue a Chartered Accountant course need to possess certain valuable skills to pursue this professional course. Time Management, Analytical, Reasoning, and Communication skills are some of the essential abilities that are required for a successful career path after the Chartered Accountant course.