CA: All you need to Know before you Start with your Chartered Accountancy curriculum in 2021

Do you wish to become a chartered accountant? It takes at least 5 years to become a CA after Class 12 boards. You may also complete the first 3 years parallel to any graduation course, considering at least 2 years for post-graduation efforts.

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Complete information on CA course

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What are the various steps involved after you finish Class 12? (Foundation Route)

• Just before or after clearing your Class 12 boards, register with Board of Studies (BoS). Link is given after conclusions section.
• You have joined the foundation course
• Complete 4 months of Foundation Course study period (bi-annual registration, check dates on the foundation course through link in conclusions)
• Appear for Foundation examination.
• Qualify Foundation exam.
• You have completed foundation course.
• Register again with the BoS for the Intermediate Course
• Any time after registering for Intermediate Course but before Practical Training starts, you need to complete 4 weeks of Integrated Course on Information Technology and Soft Skills (ICITSS)
• Complete 8 months of study for the Intermediate course
• Clear either or both academic groups of Intermediate Course
• After passing either or both academic groups, you need to register for 3 years of Practical Training
• After registering for Practical Training and after qualifying both the academic groups of Intermediate Course, you can register for the Final Course
• During the last 2 years of Practical Training & before your Final Examination, you need to again complete 4 weeks of Integrated Course on Information Technology and Soft Skills (ICITSS)
• During last 6 months of practical training, you have to appear for the Final examination
• Then complete rest of your Practical Training
• Qualify both academic groups of Final Course
• Become ICAI member

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How to become Chartered Accountant after graduation? (Direct Entry Route)

• Graduates have a direct entry route for directly joining the Intermediate course. For this, you can directly register with the BOS for the Intermediate course without the Foundation course.
• Graduates/Post Graduates from Commerce stream with at least 55% aggregate can apply.
• For this, you must have studied Accounting, Mercantile Laws, Auditing, Economics, Costing, Corporate Laws, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Business Administration or Management Accounting or similar
• Graduates/Post Graduates from non-commerce must have secured in aggregate a minimum of 60%
• Open university graduates are also allowed.
• This entry route is also open for you if you have passed Intermediate level examination conducted by The Institute of Company Secretaries of India or by The Institute of Cost Accountants of India. Such candidates are also exempt from qualifying Foundation course of Chartered Accountancy.
• If you are in your final year of Graduation, you can also register for the Intermediate Course on a provisional basis.
  • You will have 6 months to submit your final year mark-sheet from the date of appearance in your final year graduation exam.
  • During this provisional period, you can also complete your Integrated Course on Information Technology and Soft Skills (ICITSS) portion of the Chartered Accountancy curriculum

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What is the eligibility for CA?

You can become a Chartered Accountancy directly after Class 12 in any stream or even after you complete your graduation in any stream as below through direct entry route:

• Graduation in Commerce or related disciplines [Accounting, Mercantile Laws, Auditing, Economics, Costing, Corporate Laws, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Business Administration or Management Accounting] – Aggregate 55%
• Graduation in non-commerce – Aggregate 60%

There is no maximum age limit for the Chartered Accountancy course. However, minimum age should by 17 years (Class 12 pass).

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Top colleges offering chartered accountancy (CA) courses

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Average fee for chartered accountancy course

Roughly the entire course costs –

1. Tuition fees – CPT (Rs. 20,000) + IPCC (Rs. 45000) + Final Course (Rs. 60000) – Roughly Rs. 125,000
2. Reference Books + Material – Rs. 10,000 (Max)
3. Exam fees + ITT + GMCS – Roughly Rs. 50,000

TOTAL COST – Rs. 185,000 approx.

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Bonus Information

Earnings from articleship –

(Assumption – AVERAGE earnings. Can be much higher if you are from BIG 4 or upper end mid-size firms)

1. 1st year stipend on average: Rs. 3,500 / month
2. 2nd year stipend on average: Rs. 4,000 / month
3. 3rd year stipend on average: Rs. 4,500 / month
4. Bonus of 3 years: Rs. 10,000 per year – Rs. 30,000

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Conclusions

So, did you find this useful? I’m sure you certainly have many doubts put to rest after reading this. If you still have questions about what is the eligibility for ca or what are the top colleges offering chartered accountancy (ca) courses or about the average fee for chartered accountancy course, please go back if you wish.

Career planning becomes an intense affair if you’re not aware of the many things you have in you. iDreamCareer is the foremost in this field and helping millions show the true colour their mettle, in India and abroad.

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Check all announcements on the foundation course

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Important announcement Foundation Course June 2021 – PDF

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BoS – Board of Studies Knowledge Portal

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Sreenanda

With a Master’s in Biophysics-Biostatistics, Sreenanda acquired professional experience in computational proteomics of human molecules. She is currently working with the Research and Data Team at iDreamCareer.