The Institute of Chartered Accountants of India (ICAI) is the national professional accounting body of India. It was established as a statutory body under the Chartered Accountants Act, 1949 enacted by the Parliament to regulate the profession of Chartered Accountancy in India
Course prospects
All the companies registered under the Companies Act, are obliged to get their accounts audited only by practising Chartered Accountants. This opens a gateway of opportunities to different sectors of trade and business as a financial analyst, investment banking, mergers and acquisitions and much more to pursue.
An exciting situation of opportunities to work with Mightiest of the MNC’s or can set up practice to Audit.
Any student having passed 10th grade or any course equivalent to that can apply for the Common Proficiency Course (CPC) first.
That should be the final stage in the process of becoming a qualified chartered accountant.
As per the new scheme of education and training, there are total 20 subjects in CA Curriculum forked as follow
I. Foundation
Paper-1: Principles and Practice of Accounting
Paper-2: Business Laws and Business Correspondence and Reporting
Paper-3: Business Mathematics and Logical Reasoning & Statistics
Paper-4: Business Economics and Business and Commercial Knowledge
II. Intermediate
Paper-1: Accounting
Paper-2: Corporate and Other Laws
Paper-3: Cost and Management Accounting
Paper-4: Taxation
Paper-5: Advanced Accounting
Paper-6: Auditing and Assurance
Paper-7: Enterprise Information Systems & Strategic Management
Paper-8: Financial Management & Economics for Finance
III. Final
Paper-1: Financial Reporting
Paper-2: Strategic Financial Management
Paper-3: Advanced Auditing and Professional Ethics
Paper-4: Corporate and Economic Laws
Paper-5: Strategic Cost Management and Performance Evaluation
Paper-6A: Risk Management
Paper-6B: Financial Services and Capital Markets
Paper-6C: International Taxation
Paper-6D: Economic Laws
Paper-7: Direct Tax Laws and International Taxation
Paper-8: Indirect Tax Laws
The council has taken the decision of reducing the chartered accountant course duration from 5 years 3 months to 3.5 years. it would cost an individual an average of 2 lakh including private coaching fees and registration.
There are many institutes all over INDIA providing coaching for CA along with coaching for other ICAI examinations.
The Institute of chartered accountants conducts a set of exams to certify every qualifying candidate as a Qualified Chartered Accountant
This set of exams are conducted by the Institute of Chartered Accountants eligible for candidates having passed the foundation exam, CPT.
This set of exams are conducted by the Institute of Chartered Accountants eligible for candidates having passed the IPCC examination and done with a minimum of two and a half years of articles
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