Chartered accountancy is the study of accounting and taxation procedures in order to get qualified as a professional who can handle the accounting and taxation for a company or firm. Chartered Accountancy differs from other professions in that it requires students to attend college, earn a degree, and then pursue master’s and doctoral degrees. Although the Chartered Accountancy degree is a professional degree in and of itself, it cannot be broken down into undergraduate or postgraduate degrees or levels. Rather, it is a degree that can be obtained after passing the three levels of exams that are required in order to complete the degree. The three levels include the foundation level, intermediate level and the final level. Only after a candidate has qualified all the three levels can they work as a professional chartered accountant.
The Institute of Chartered Accountancy of India designed the three levels of chartered accountancy training (ICAI). There are two paths to becoming a chartered accountant: the foundation road and the straight admission method. Candidates who want to study chartered accounting after graduating from high school can take the foundation path, while those who want to pursue chartered accounting after graduation can take the straight entrance route.
CA admittance to further courses is contingent on your passing the Common Proficiency Test. There is no set time limit for doing the CA course. The minimum duration taken by candidates to successfully complete the CA Course is 4.5 years.
Chartered Accountancy (CA) Eligibility Criteria
In order to continue with the Chartered Accountancy course, the candidate must first review the CA eligibility criteria and ensure that they meet all of the ICAI’s standards. The ICAI sets the CA eligibility criteria, which are useful in deciding if a candidate has the qualifications that will help him or her advance in the profession in the future. The following are the requirements for becoming a Chartered Accountant. Candidates interested in pursuing the Chartered Accountant course should review the CA qualifying requirements before enrolling.
- Candidates are eligible for Chartered Accountant CPT registration after class 10 but they will be able to appear for it only after passing class 12.
- Students of commerce, science as well as arts stream can apply for CPT.
- Students of Commerce stream need to secure 50% aggregate marks in Class 12 exams in order to be eligible for CPT.
- Students of all other streams need to score an aggregate of 55% excluding Mathematics and 60% including Mathematics in Class 12 board exams.
- On clearing the CPT exam successfully, candidates become the member of Indian Chartered Accountants Institute (ICAI) – the exam and course conducting body for all CAs in India.