Chartered Accountancy (CA) is the most prestigious course in the field of accounting governed by a statutory body named ICAI (Institute of Chartered Accounts of India). ICAI tests the candidates on various grounds such as accounting, taxation, business practices, corporate laws, analytical skills, etc. Thus, ICAI issues the CA designation after thoroughly examining the theoretical and practical knowledge of the candidate. On average it takes 4.5 to 5 years to complete the CA course if a student clears all the exams in one attempt.
The eligibility criterion for the candidate varies depending on the entry mode. There are two modes of pursuing the course – Foundation and the Direct Entry route.
Candidates who aspire to become chartered accounts using this route have to complete 10+2 from a recognized board. After the successful registration through icaiexam.icai.org. Since foundation exams are conducted twice a year. Therefore, the candidate aiming to appear for May and November session must get them registered by 31 December and 30 June respectively.
The commerce graduates/postgraduates who have scored a minimum of 55% and other graduates /postgraduates with 60% marks are eligible to register for the course. Additionally, the students who have successfully qualified for the intermediate level exam conducted by the Institute of Companies Secretary of India or Institute of Cost Accountants of India can also apply through the direct entry route.
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This is an entry-level exam to pursue a career in Chartered Accountancy. This offline national level exam ideally takes place twice a year, unless otherwise stated. Each paper is 100 marks with time duration of 3 hours. Paper 1 and 2 consists of subjective questions wherein Paper 3 and 4 are objective in nature. There exists a negative marking for each wrong answer in an objective-type paper. Thus 1/4th marks are deducted for the wrong answer. To qualify for the CA Foundation; candidates need to obtain 40% in each subject along with 50% aggregate.
|Paper 1||Principles and Practice of Accounting|
|Paper 2||Business laws
Business Correspondence Reporting
|Paper 3||Business Mathematics
|Paper 4||Business economics
Business and Commercial Knowledge
This is the second level of the CA course after the candidate successfully qualifies for the CA Foundation. It consists of a total of 8 subjects being divided into two groups. At this level, along with theoretical knowledge, the focus lies on practical expertise too. The CA Inter exam has been restructured and the weightage for the subjects has been significantly altered. Now, the 30% of the paper 2, 4, 6 and 7 includes objective type questions and remaining 70% is subjective in nature. Here, objective questions do not hold any negative marking. It is mandatory to attempt the first question of each paper, for the rest choices are provided. The passing criteria remain the same here as well 40% in each paper and an aggregate 50%. The students have the choice to appear for groups separately or together.
|Paper 2||Corporate and Other Laws|
|Paper 3||Cost and Management Accounting|
|Paper 5||Advanced Accounting|
|Paper 6||Auditing and Assurance|
|Paper 7||Enterprise Information System and Strategy Management|
|Paper 8||Financial Management and Economics for Finance|
This is the final level exam of the CA course where advanced knowledge of the candidate is tested. Similar to the Intermediate, CA finals comprised of 8 subjects being divided into two groups. Here, 30% of the Paper 3, 4, 7, and 8 consists of objective-type questions. Paper 6 (elective paper) comprises of 6 subject preferences, out of which candidates have to choose only one. The candidate requires 40% marks in each of the subjects and 50% aggregate marks to qualify for the CA Final exams.
|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 6||Elective Paper (Choose any one )
|Paper 7||Direct Tax Laws and International Taxation|
|Paper 8||Indirect Tax Laws