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1. EduPristine > Blog > All youwantto know about CharteredAccountant (CA) credential before getting
startedwiththe CAcourse
Allyouwanttoknowabout Chartered
Accountant (CA) credential before
gettingstartedwiththe CAcourse
September 10 2019 Written By: EduPristine
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2. Here’s what you needto get startedwith the
CharteredAccountant (CA) course
Chartered Accountant is an honorable designation that authorizes and
makes the designation holder more credible in the field of accounting.A
statutory body certifies candidates as a Chartered Accountant after
testing the candidate on the grounds of accountancy,taxation,
analytical skills, business practices, corporate laws, and others.
To become a Chartered Accountant (CA) a candidate needs to have skills
that includes good quantitative, analytical, problem-solving, commercial
awareness, communication,teamwork skills along with ethics,
professionalism, and eye for detail.
The Chartered Accountant designation is granted by the Institute of
Chartered Accountants of India (ICAI),which is considered as one ofthe
reputed institutes globally. ICAI regulates the Chartered Accountant
profession and practices in India.
The CharteredAccountant (CA) Course details
The Chartered Accountant course consists ofthree levels of examination
Foundation course or CPT(Common ProficiencyTest)
Intermediate or IPCC (Integrated Professional Competence Course)
Final Examination
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3. Acandidate can choose to pursue a Chartered Accountant (CA) course
after completion ofthe 12th through the Foundation course option. If a
person opts to pursue a Chartered Accountant course after graduation,
they can directly registerforthe Intermediate course through Direct
Entry option.
Students who don’t hold a graduate degree but have cleared the
intermediate level examinations by the Institute of CostAccountants of
India or by the Institute of Company Secretaries of India can directly
registerforthe Chartered Accountant Intermediate course, as the
Foundation course has already been covered in the previous institute.
Students can appearfor CPTin June and December.While students can
appearforthe Intermediate (IPC) & Final examinations in May and
November.
Eligibilityfor Direct Entrysystem
Graduates and Post Graduates can apply through the Direct Entry
system, iftheir score is at least 55% aggregate or equivalent.This
criterion is for students who have studied Accounting,Auditing,
Mercantile Laws, Corporate Laws, Economics, Management (including
Financial Management),Taxation (including DirectTax Laws and Indirect
Tax Laws), Costing, Business Administration or ManagementAccounting,
or subjects that are similar. Graduates or Post Graduates from a non-
commerce background need at least 60% score in aggregate or
equivalent.

4. Howto plan forthe CharteredAccountant (CA)
course
Registerwith the Board ofStudies (BoS) forthe
Foundation Course
Ifthe student is planning to pursue the Chartered Accountant (CA)
course after 12th then he needs to registerforthe Foundation
course with the institute.The Foundation course is a four-month
course and the student can choose to appearforthe examination in
June or December. Once the candidate has qualified the CPTexam
they can registerforthe Intermediate course. If a candidate has
completed graduation,they can directly registerforthe Intermediate
exam,which means they do not need to appearforthe Foundation
course.
Registerfor Intermediate course
The Intermediate Course is 8 months of study course and the
student can appearforthe exam in May or November.The institute
provides the option to appearfor only one group of subjects or both
the group of subjects in the given month.Adirect entry student can
appearforthe Intermediate exam only after completing nine months
of practical training.
The student is eligible to enroll and complete the Integrated Course
on Information Technology and Soft Skills (ICITSS) once they register
forthe Intermediate course.This is a four-week course and is
compulsory to initiate articleship or practical training.

5. If a student has taken the foundation route then they need to pass at
least one ofthe two groups of Intermediate exam before
commencing the practical training.The Direct Entry students can
commence the practical training immediately after completing the
Integrated Course on Information Technology and Soft Skills (ICITSS).
The student needs to registerforthe three-year practical training
and join a Chartered Accountant firm orwork underthe supervision
of a Chartered Accountantwho is authorized to provide training to
the articles.
Registerforthe Final Exam
On clearing both the groups ofthe Intermediate exam and
completing 2.5years of practical training,the student can appearfor
the final exams.The student also needs to complete the four months
Advanced Integrated Course on Information Technology and Soft
Skills (AICITSS) course after completing one year of practical training
and before appearing forthe final exams. Once the student has
completed 3 years of practical training and cleared both the groups
ofthe final exams,they are granted the Chartered Accountant
designation by the institute.
Curriculum for CharteredAccountant (CA)
course

6. Subjects for Foundation course:
Paper 1: Principles and Practice ofAccounting
Paper 2: Business Laws & Business Correspondence and Reporting
Paper 3: Business Mathematics and Logical Reasoning & Statistics
Paper 4: Business Economics & Business and Commercial
Knowledge
Subjects for Intermediate Course:
Group I
Paper 1:Accounting
Paper 2: Corporate and other Laws
Paper 3: Cost and ManagementAccounting
Paper 4:Taxation (Section A: Income Tax Law and Section B: Indirect
Taxes)
Group II
Paper 5:Advanced Accounting
Paper 6:Auditing and Assurance

7. Paper 7: Enterprise Information Systems & Strategic Management
Paper 8: Financial Management and Economics for Finance
Subjects for Final Course:
Group I
Paper 1: Financial Reporting
Paper 2: Strategic Financial Management
Paper 3:Advanced Auditing and Professional Ethics
Paper 4: Corporate and Economic Laws
Group II
Paper 5: Strategic Cost Management and Performance Evaluation
Paper 6: Elective Paper (any one of Risk Management, Financial
Services and Capital Markets, InternationalTaxation, Economic Laws,
Global Financial Reporting Standards, Multi-disciplinary Case Study)
Paper 7: DirectTax Laws & InternationalTaxation
Paper 8: IndirectTax Laws (Part 1: Goods and Services Tax and Part 2:
Customs and FTP)

8. Skill Assessment for Foundation Course –
marking scheme:
Paper Level I:Comprehension
&Knowledge
Level II:
Application
1 –Principles and Practice of
Accounting
5%-20% 80%-95%
2A–Business Laws 50%-65% 35%-50%
2B –Business Correspondence and
Reporting
100% –
3 –Business Mathematics and Logical
Reasoning &Statistics
– 100%
4 I –Business Economics 40%-50% 50%-60%
4 II –Business and Commercial
Knowledge
100% –
Skill Assessment for Intermediate Course –
marking scheme:
Paper Level I:Comprehension &
Knowledge
Level II:Analysis &
Application
1 –Accounting 5%-15% 85%-95%
2 –Part I: CompanyLaw 40%-55% 45%-60%

9. 2 –Part II: OtherLaws 35%-55% 45%-65%
3 –Cost and Management
Accounting
20%-30% 70%-80%
4A–Income-tax law 5%-20% 80%-95%
4B –IndirectTaxes 20%-45% 55%-80%
5 –Advanced Accounting 5%-15% 85%-95%
6 –Auditing and Assurance 30%-55% 45%-70%
7A–Enterprise Information
Systems
40%-65% 35%-60%
7B –Strategic Management 50%-70% 30%-50%
8A–FinancialManagement 20%-30% 70%-80%
8B –Economicsfor
Finance
60%-80% 20%-40%
Skill Assessment for Final Course – marking
scheme:
Paper Level I:
Comprehension
&Knowledge
Level II:
Analysis &
Application
Level III:
Evaluation &
Synthesis
1 –FinancialReporting 5%-15% 55%-85% 15%-25%
2 –Strategic Financial
Management
10%-20% 20%-40% 50%-60%

10. 3 –Advanced Auditing and
ProfessionalEthics
15%-25% 40%-70% 20%-30%
4 –Corporate &Economic
Laws
Part I: Corporate Laws
Part II: Economic Laws
15%-25%
30%-50%
40%-55%
50%-70%
30%-35%
5 –Strategic Cost
Management and
Performance Evaluation
10%-15% 45%-55% 35%-40%
6 –DirectTax Laws &
InternationalTaxation
Part I: DirectTax Laws
Part II: International
Taxation
5%-10%
40%-50%
55%-75%
50%-60%
20%-35%
7 –IndirectTax Laws
Part I: Goods and Services
TaxPart II: Customs &FTP
10%-30%
20%-40%
40%-70%
40%-70%
20%-30%
10%-20%
The Chartered Accountant course form ICAI is considered one ofthe
toughest courses in the world.Thousands of candidates appearforthe
exams everyyear, butthe percent of candidates who clearthe
examinations is very low. Here are the statistics ofthe candidates who
appeared and candidates who cleared the final exams in the May 2019
attempt.
New Course – May2019

11. Applications Appeared Passed Pass Percentage
Group I 8894 1500 16.87%
Group II 6529 1146 17.55%
Both Groups – – –
Passed group I 11092 1669 15.05%
Passed group II – 432 3.89%
Passed both groups – 2313 20.85%
Totalcandidates 26515 7060 26.62%
Old Course – May2019
Applications Appeared Passed Pass Percentage
Group I 25052 4610 18.40%
Group II 36945 8762 23.72%
Both Groups – – –
Passed group I 15560 2127 13.67%
Passed group II – 602 3.87%
Passed both groups – 1187 7.63%
Totalcandidates 77557 17288 22.29%

12. More than 26,000 students appeared forthe CAFinals forthe new
course syllabus. Out ofthose, only 7060 students could clearthe exams
which comes to 26.62% passing percentage. More than 77000 students
had appeared forthe CAFinal exams forthe old course syllabus, out of
which 17288 students cleared the exams.That constitutes 22.29% ofthe
total candidates who appeared forthe old syllabus.
Students who wantto pursue a high designation course in the field of
Accountancy can also choose to pursue CPAorACCAcertification which
are considered the best alternatives to the Chartered Accountant
course.
US CPA (Certified PublicAccountant)

13. The American Institute of Certified Public Accountant (AICPA) offers the
CPA(Certified Public Accountant) certification.AICPAhas 429,000+
members across 122 countries and is considered a leading institution for
the Accountancy course.While the Chartered Accountant course trains
the candidate on the Indian Reporting Standards,AICPAtrains the
candidate on the International Financial Reporting Standards (IFRS) and
GenerallyAccepted Accounting Principles (GAAP).
CPAis an extensive course and includes topics like financial accounting
and reporting,taxation, auditing and evaluation, regulatory frameworks
and procedures, laws, ethics, strategizing, planning and management of
finances.
Generally, unless a student is brilliant in studies, ittakes 6-7 years to
complete the Chartered Accountant course.The percent of students
who clearthe examinations everyyear is relatively low. In comparison,A
CPAcourse takes 2-4 years to complete with a passing percentage of
50%. Not only the CPAcertification is globally recognized, a CPAholder
also earns 20-40% more compared to a CA.
Herearethedetails ofthecourse:
CPA Course Eligibility
The basic eligibility requirement for US CPAis having 150 accounting
credits. In India, it is equivalentto a 16-year education. So, having a
post-graduation or any other degree along with the three-year
graduation degree is compulsory.
The candidates can have any ofthe below qualifications to be eligible to
pursue CPA:

14. Member ofthe Institute of Chartered Accountants of India.
Member ofthe Institute of Cost and Works Accountants in India.
Member ofthe Company Secretaries in India.
Master of Commerce
MBA
US CPA course duration
The US CPAcourse takes halfthe time required as compared to the
Chartered Accountant (CAcourse).All the exams can be completed in a
period of 12-18 months.The number of exams in US CPAcourse are also
less compared to CACourse. US CPAconsists offour examinations that
can be given as perthe candidate’s convenience.They can book an
exam slot in advance at a Prometric center oftheir choice.
CPA Course Syllabus
The CPAcourse consists offour major sections:
Auditing and Attestation (AUD)
FinancialAccounting and Reporting (FAR)
Regulation (REG)
Business Environment Concepts (BEC)

15. TheCPAcoursetakes atotalof14hourstobecompleted.
CPAExam Time
Taken
Question
Auditing and Attestation (AUD) 4 Hours 90questions and 7task-based
simulations
Business Environment and
Concepts (BEC)
3 Hours 72 questions and 3 written
communicationstasks
FinancialAccounting and
Reporting (FAR)
4 Hours 90questions and 7task-based
simulations
Regulation (REG) 3 Hours 72 questions and 6 task-based
simulations
Since the course consists of only four papers and a single level of
examination, students can even complete the course within a year.
CPAApplication Process
Every state has a different set of requirements forthe CPAcourse.
Before applying forthe course,thoroughly check the requirement
list and confirm thatyou are eligible as perthe checklist.
Submityour documents to the US state board for evaluation to clear
the eligibility criteria. It is suggested to keep the transcripts of all
your course or degrees ready beforehand.

16. Once the board considers you eligible for pursuing the CPAcourse,
registerwith the Institute and pay the application fee.
The board issues an Authorization to Test (ATT) documentwhich
allows the candidate to register and pay forthe sections ofthe CPA
exam.The ATTwill be valid for 90 days. In case you fail to registerfor
the exam within 90 days,you will have to pay the application fee
again to registerforthe exams. Register and pay the exam fee forthe
sections you plan to appear in the next six months.
Next,you will receive the Notice to Schedule (NTS) which will allow
you to appearforthe exam.The documentwill be used to log in to
schedule the exam date.The document has a validity of 90 days, 6
months, 9 months or 12 months depending on the state of
registration. Log in with the NTS on the Prometric testing center
website and schedule your exam using the section ID. Carry the NTS
and two ID proofs on the day of examination.
Download Brochure
(For more details visit here)
ACCA (Association ofChartered Certified
Accountants)
Association of Chartered Certified Accountants is a United Kingdom-
based global professional accounting body that offers the Chartered
Certified Accountant course.ACCAhas 233,000 members and 536,000

17. students in over 178 countries.This is the second-best alternative to the
Chartered Accountant course and takes 2to 3 years to complete the
certification.The benefit of pursuing the ACCAcourse is that students
can pursue the ACCAcourse after 12th or after graduation.The ACCA
course has different levels for students to start at, suitable as pertheir
qualification or academic background.Astudentwho has cleared his
12th can startwith the ACCAFoundation course,while a studentwho
has cleared his B.Com exams can startwith the Skills Level. Non-
Commerce Graduates can pursue the ACCAcourse from the Knowledge
Level. Candidates who have pursued the CAcourse are eligible to pursue
the ACCAcourse from the Professional Level.There are certain
exemptions for candidates who have pursued CAIPCC as well.
The ACCAprofessional course covers topics like Business Accounting,
ManagementAccounting, FinancialAccounting and Management,
Corporate and Business Law, Performance Management and Analysis,
Taxation, Financial Reporting,Audit and Assurance on an advanced level.
Download Brochure
(For more details visit here)

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