Uploaded on Nov 22, 2024
Who is a Chartered Accountant? The Chartered Accountant designation comes with experience in the financial area and a certificate from any recognized chartered accountancy body, like the Institute of Chartered Accountants of India Institute of Chartered Accountants in England and Wales or similar institutes in other countries. The very prefix 'Chartered Accountant' speaks volumes about the high level of professionalism involved in accounting, auditing, taxation, financial management, and other areas of finance.
How to Become a Chartered Accountant After 12th
How to Become a Chartered Accountant After
12th or Graduation
Who is a Chartered Accountant?
The Chartered Accountant designation comes with experience in the financial area
and a certificate from any recognized chartered accountancy body, like the Institute
of Chartered Accountants of India Institute of Chartered Accountants in England
and Wales or similar institutes in other countries. The very prefix 'Chartered
Accountant' speaks volumes about the high level of professionalism involved in
accounting, auditing, taxation, financial management, and other areas of financ
The Key Responsibilities and Roles of a
Chartered Accountant include:
• 1. Financial Reporting: CAs report on and prepare financial
statements for approval to ensure that the regulatory
standards in financial reporting are complied with, together
with the correct portraiture of an organization's financial
position.
• 2. Auditing: Auditing of the financial statement done with
sufficient accuracy finds fraud and determines whether the
organization complies with the relevant laws and regulations.
They could be external auditors working for different firms, or
they may also be internal auditors in one organization only.
3. Taxation:
• The chartered accountants offer tax planning
and advisory services for both individuals and
companies. They assist their clients in
reducing their liabilities to the barest
minimum within the ambit of the law while
advising them on compliance with the
provisions of the tax laws.
4. Management Accounting
• CAs advise and provide insight into financial
planning, budgeting, and financial
management strategies that enable a business
to make informed decisions leading towards
profitability and efficiency
Qualification and Professional Training:
• Educational Qualification: There are a few academic backgrounds in commerce
that help, though it may be optional. After studies at the secondary level, students
who intend to become CAs have to follow a course of action involving passing
various examinations but with necessary practical training.
•
• Professional Examination: The multi-tier examination at Foundation, Intermediate,
and Final stages covers different subjects relating to accounting, law, taxation, and
finance within the CA qualification. Articleship Training: A student intending to
become a chartered accountant must undergo the mandatory practical training
under the practising CA, called Articleship assistance. During this training period,
one learns practically in most of the areas of accounting and finance.
•
• Continuous Professional Development: Even after qualification, CAs are obliged to
pursue continuous learning and professional development in order to upgrade their
respective expertise in laws, regulations,
Global Recognition/Career Opportunities:
• The status of a Chartered Accountant ascertains recognition and
respect for professional knowledge in matters of finance in every
country of the world. These accounting professionals may be utilized
in sectors dealing with banking, finance, consulting, and public
practice, to mention a few. They could also hold the following
designations: Chief Financial Officer, Financial Controller, Tax
Consultant, Auditor, and Management Consultant.
• The CA course opens avenues for career opportunities in not only the
private but also the public sectors. Generally, CAs hold prestigious
and influential positions in organizations' financial decision-making. A
number of chartered accountants start their practices by engaging in
rendering diverse services related to finance by offering their
expertise to companies and individuals.
How to Become a Chartered Accountant After 12th: A Step-by-Step Guide
• Now, becoming a chartered accountant right after completing
the 12th standard is an option for which students, especially in
the commerce stream, remain eager and interested. Actually,
the journey to achieving this degree is so well-structured and
pledges hard work that will be rewarding. Now, how can you be
a successful chartered accountant right at the end of your 12th
standard?
• Although students from any stream are eligible to take up CA,
having commerce in 11th and 12th standards will give you an
added advantage over others. The subjects of accountancy,
business studies, and economics play a constructive role in
pursuing your CA course.
Register for the CA Foundation Course
• First, immediately after the 12th board
examinations, get yourself enrolled in the CA
Foundation Course. CA Foundation is an
entrance-level examination that is held under
the supervision of the Institute of Chartered
Accountants of India, ICAI. You can only
register your name for the foundation course
with ICAI after you
How to Prepare for the CA Foundation Exam
• After registration, one has to be prepared for the CA
Foundation Exam, which consists of four papers, namely;
• 1. Principles and Practice of Accounting
• 2. Business Laws and Business Correspondence and Reporting
• 3. Business Mathematics, Logical Reasoning and Statistics
• 4. Business Economics and Business and Commercial
Knowledge
• A minimum of four months of focussed study is, therefore,
required in view of the vast and difficult syllabus.
Appear for the CA Intermediate Examination
• Group I:
• Accountancy
• Corporate & Other Laws
• Cost & Management Accountancy
• Taxation
• Group II:
• Advanced Accountancy
• Auditing & Assurance
• Enterprise Information Systems & Strategic Management
• Financial Management & Economics for Finance
•
• You can appear in both groups together or separately. As is the case with the
Foundation level, you need to score at least 40% on every paper and 50% on every
group for a pass.
Pass ICITSS (Integrated Course on
Information Technology and Soft Skills)
• Before commencing an Articleship, you will be required to undergo a
four-week course- the ICITSS on Information Technology and
Orientation. As a matter of fact, this course is one of the prerequisite
courses necessary for imparting a part of the foundational skills that
you will require in your Articleship and beyond.
• Pass either one or both groups of the CA Intermediate examination for
undergoing three years of Articleship training under the practising CA.
This will be the most crucial phase in your CA journey, which will
provide you with hands-on experience in auditing, taxation,
accounting, and other financial services.
• In the process of Articleship, one covers Advanced ICITSS- Information
Technology and Management Communication Skills; then he gets
qualified to appear for the CA Final examination.
Completion of GMCS and Advanced ITT
Courses
• Before one qualifies as a CA, he must attend
courses in GMCS and Advanced ITT. These are
important in getting management and
communication skills.
Conclusion:
• CA after class XII is a journey of much-needed
dedication, hard work, and perseverance. Each
step is vital in building up experience, skills, and
knowledge to be a performer in the arena. If
approached rightly and committed to it, surely
you can achieve this prestigious designation as
a CA and open the way for successful careers in
finance, accounting, and business.
•
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