Let’s Know something simple first 

Who are CA’s or Chartered Accountants ?

Chartered Accountants or CA’s are professionals in the field of accounting who have completed a certain set of exams & skill training programs developed & controlled by Institute of Chartered Accountants of India (ICAI).

ICAI is a statutory authority governed by the Chartered Accountants Act, 1949 & is responsible for promotion, development and regulation of education, ethics & technical standards related to the profession of Chartered Accountancy in India. ICAI's role is pivotal in ensuring that CAs are well-equipped to handle the dynamic financial environment.

CA’s are known for their expertise in the areas of Accounting, Auditing, Taxation, Financial Management, Corporate Law &  are employed by the public, private sector and some are employed by government bodies.

CAs are known for their ethical conduct, integrity, and adherence to professional standards.

CA exams Explained

CA exam is divided into three different parts Namely

1. Foundation level (formerly known as CPT - Common Proficiency Test).
2. Intermediate level (Formerly Known as IPCC - Integrated Professional Competence Course)
3. Articleship Level
4. Final level

Apart from these students after successfully completing intermediate level must undergo a two year articleship in a recognized CA firm under the guidance of a CA.

1. Foundation Level of CA Exam

Foundation Level is the starting stage of CA exams & can be completed in two routes 

1. Foundation Course Route: After Class 12th
2. Direct Entry Route: After Graduation

Foundation Course Route

Eligibility: Completion of Class 12th

According to the ICAI foundation eligibility requirement, Students must have passed the class 12th exams from a recognized board with at-least 50% marks for commerce stream students & at least 55% for science stream students. 

As being the entry point to the CA qualification, It covers fundamental principles that lay the groundwork for more advanced accounting studies.

Registration Process : Online only

Mode of Exam: Offline (Done Twice in an year, May & November)

      For May - Registration starts on 

      For September - Registration starts on 

Time Duration for each paper : 3 hours 

Age limit : Students of any age group can register for foundation level as ICAI  has not set a restriction for appearing in CA Foundation Exam.

Total Number of Papers: Four 

• 1. Paper-1 : Accounting (100 Marks)
• 2. Paper-2 : Business Laws (100 Marks),
• 3. Paper-3 : Quantitative Aptitude (100 Marks)
•                    Part A: Business Mathematics (40 Marks),
•                    Part B: Logical Reasoning (20 Marks), 
•                    Part C: Statistics (40 Marks)
• 4. Paper-4 : Business Economics (100 Marks)

Negative Marking: Only in the fourth subject with 0.25 marks deduction for wrong answers.

Mark needed for qualification - 40% marks in each subject or 50% marks in aggregate

Registration Website  icai.org

Course Duration: Approximately 4 months of study followed by exams.

Direct Entry Route

For students who have completed Graduation can directly move to intermediate level through the Direct Entry Route.

Commerce or equalent UG & PG Students

Candidates who have achieved a minimum of 55% in their postgraduate or undergraduate Commerce degree, or an equivalent degree from a recognized university, are exempt from the CA Foundation Exam.

Open University or NIOS Passed UG or PG Students

Open University Students who have qualified UG or PG degrees will be exempted from the CA Foundation exam.

Non Commerce UG & PG Students 

Students who have acquired UG or PG degrees in a stream other than commerce & Having 60% marks from any UGC recognized university will be exempted from CA Foundation exam.

2. Intermediate Level of CA Exam

Eligibility Criteria : 

1. Students who has successfully cleared the CA Foundation exam

or

2. Completed UG or PG with direct entry route criteria set by ICAI

or

3. Students who are in the final year of their graduation can register for the CA Intermediate exam provisionally.

           or

4. Has completed the intermediate level of the Institute of Company Secretaries of India or the Institute of Cost Accountants of India exam.

Frequency: Conducted twice in an year - May & November

      For May - Registration starts on 

      For  November - Registration starts on 

Mode of Exam: Offline Only

Number of Papers : 6 exams divided into two groups having three papers each.

Group 1

Paper-1:  Advance Accounting

Paper-2: Corporate Laws & Other Laws

Paper-3: Taxation

               Section A: Income-tax Law

               Section B: Goods and Service Tax 

Group 2

Paper-4: Cost and Management Accounting

Paper-5: Auditing and Ethics

Paper-6: Financial Management and Strategic Management 

1. Part I:  Financial Management
2. Part II: Strategic Management

Time Duration for each paper

Type of Questions: 30% case study-based MCQs and 70% descriptive type questions

Total Marks: 600 (100 marks for each paper)

Registration Website  icai.org

Exam Pass Criteria: At least 40% marks in each paper and more than 50% marks in each group.

The Intermediate Course dives deeper into the principles and practices of accounting and finance, preparing students for practical training.

3. Articleship Training

Duration:  Two years of practical training under a practising CA, which can be started after passing either Group I or both groups of the Intermediate Course.

Articleship provides hands-on experience in various aspects of finance and accounting, under the mentorship of experienced professionals.

4. Final Level of CA Exam

Eligibility Criteria :

Students must have cleared CA Foundation, CA Intermediate(Both Group) & completed articleship Training.

Mode of Exam: Offline only (Done Twice in an year, May & November)

      For May - Registration starts on 

      For September - Registration starts on 

Number of Papers : 6 exams divided into two groups having three papers each.

Group I

Paper-1: Financial Reporting

Paper-2: Advance Financial Management

Paper-3: Advanced Auditing, Assurance and Professional Ethics

Group II

Paper-4: Direct Tax Laws and International Taxation

Paper-5: Indirect Tax Laws

Paper-6 Integrated Business Solution

Integrated Business Solution paper is entirely case study based, would be open book examination & other five are closed book examination.

There will be 30% case scenario/ case-study based MCQs and 70% descriptive questions in all the six papers of Final Examination.

There is no negative marking in MCQ based questions in Final Examination.

Time Duration for each paper : 3 hours 

Registration Website  icai.org

ICAI allows you to appear in both groups or any of the groups at once.

Top skills expected from CA’s

The skills needed in different roles may vary for CA’s which is summarised as follow  

• Good Communication & Ethical behaviour
• Honesty, Accountability And Confidentiality
• Ability to improve by learn new things
• Conceptual Clarity & Analytical Mindset
• Discipline, Diligence and hard Work
• General Awareness about businesses
• Ability to take calculated decisions
• IT Proficiency and time management skills
• Self-motivation & commitment to work

Scope and Career Opportunities for CA Professionals

Chartered Accountants have diverse career opportunities across various sectors:

• Financial Auditing: Ensuring accuracy and compliance in financial statements.
• Taxation Advisory: Providing expertise in tax planning and compliance.
• Financial Analysis and Reporting: Analysing financial data to support business decisions.
• Corporate Finance: Managing corporate investments and financial strategies.
• Risk Management: Identifying and mitigating financial risks.
• Consultancy: Advising businesses on financial efficiency and strategy.

Some of the popular roles filled by CA’s are -

1. Investment Banker: They are responsible for overseeing mergers & acquisitions, company valuation assessing, providing financial consulting, coordinating initial public offerings (IPOs) & much more.
2. Tax Advisor: They provide expert advice regarding tax planning and compliance thus helping individuals and businesses to minimise tax liabilities & to navigate complex tax regulations.
3. Financial Controller: In this Position, they oversee the financial reporting process, manage budgeting, forecasting & ensure accuracy in financial records thus contributing to the strategic financial management of the organisation.
4. Forensic Auditor: CA’s as Forensic Auditors investigates accounting fraud, conduct forensic audits & provide guidance in legal disputes with their wide knowledge in accounting
5. Management Consultant: As consultants they are responsible for optimising processes & procedures to reduce costs, strengthening operations protocols & implementing financial restructuring strategies.
6. Risk Compliance: Chartered accountants ensure compliance with all legal regulations and internal procedures within companies.
7. Corporate Finance Professional: CA’S in Corporate Finance manage a range of financial activities such as capital budgeting, fundraising, financial modelling & financial planning to ensure smooth functioning

Major Industries Employing CA’s

CAs are in demand across multiple industries:

• Public Practice: Offering diverse services as independent consultants.
• Corporate Sector: Working in finance departments of companies.
• Government and Public Sector: Ensuring fiscal responsibility and compliance.
• Non-Profit Organisations: Managing finances for NGOs and charities.
• International Firms: Providing expertise in multinational financial regulations.

Top Companies employing CA’s in india

With Major companies looking for highly qualified candidates to their firms here is the list of top players who are employing CA’s to their firms.

• Deloitte India
• PwC India
• Ernst & Young India
• KPMG India
• BDO India
• RSM India
• ASA & Associates
• Lodha & Co
• Singhi & Co.
• Grant Thornton International
• SR Dinodia & Co. LLP
• Luthra & Luthra India

Know more about these companies in detail

CA Salary 2024 : Recent Placements

ICAI’s  Recent placement drive comes with an average salary of 13.12 LPA  Making the average starting salary to be Rs 1,10,000 per month and the highest salary during this placement was 2,46,000 per month.

However, a Chartered Accountant's salary may vary based on roles they are undertaking, experience level, expertise, and exam ranks. Achieving high ranks in the CA Final exams and passing all levels on the first attempt can lead to even higher salary packages.

Chartered Accountant's salaries grow significantly over time, Reaching up to Rs. 90 lakhs per annum with higher experience, expertise & other factors.SStudents who cleared CA Final Exams on their first attempt and rank holders often receive priority during placements and get higher salary packages.

Conclusion

Becoming a Chartered Accountant in India is a rigorous but highly rewarding journey. The comprehensive training and diverse career opportunities make it a sought-after profession. Whether you're interested in auditing, taxation, financial management, or consultancy, a CA qualification opens doors to a successful and fulfilling career.