Do you want to become a Chartered Accountant in India? Is it your passion?
But you don’t have the adequate knowledge of the process?
If yes, then don’t worry you are at the right place. Just fix your Gaze at the screen and by end of the article, you will have a path to walk on.
The first and foremost step is to know what exactly a Chartered Accountant (CA) does.
A CA deals with financial accounting and reporting, fields-audit and assurance, accounting management and applied finance, or taxation. CA usually works with a company directly or take on clients as part of a Chartered Accountancy firm.
Before reaching a destination one must know about the journey. Same goes for the process of becoming CA. Before becoming a CA you must know from where to start and how to proceed.
You must prepare yourself because it needs full dedication and hard work.
Let's follow the step-by-step procedure towards this program for proper understanding.
ICAI has revised the CA course structure with effect from September 2017. The entire duration of the CA course is around 4.5 years if a student clears every examination in the first attempt.
Have a look at different stages of the CA course:
1. CA Foundation Course
2. CA Intermediate Course
3. CA Articlehship
4. CA Final Course
Still don’t know from where to begin and how to move from one stage to another? Keep calm and read the steps mentioned below:-
The very first thing you must-do if you are a CA aspirant is - Get yourself registered for the CA Foundation course. If you have attained a minimum of 33% in your 12th standard examination you are good to go ahead.
The registration process for the CA Foundation involves completing the basic form online on the official ICAI website and obtaining a registration number, User Id, and password.
After you are done with your registration, you will have a period of 4 months to study for the exam. You must fill out the form of the CA Foundation exam to get the CA Foundation admit card to access the exam centre. The exam is conducted twice a year in the month of May and November. The result will be declared in the month of January and July.
Wondering about the paper pattern? It consists of four subjects related to basic accounting and auditing principles of 100 marks each. Two papers are subjective type and the other two are objective type paper.
When you clear the CA foundation exam with a 40 % mark in each subject or a 50 % aggregate, you are eligible for an intermediate level.
If you are graduate or postgraduate you don’t have to appear for the Foundation level. You have to register yourself and directly fill the CA Intermediate exam form.
The registration for this level is made in the month of March and September. The exams will be held in the month of November and May. This exam has again 2 groups and each group has 4 subjects carrying 100 marks for each subject. In this exam, there is a study period of 9 months. After clearing one group you have to undergo ICITSS training for 4 weeks. When you will be done (qualify) with the training and exams of both groups, you will step forward to the third stage.
You can register yourself for Articleship once you are done with any single Intermediate group exam. After qualifying intermediate exam you can start your practical training. Your Articleship will comprise of 3 years. In the last 6 months of training, you can register for the Final exam
When you are done with your Articleship, which is mandatory. You can appear for the CA Finals by filling up the form. Final exams are held in May and November. The result will be announced within the span of one month from the last date of examination.
The final course is divided into two groups, each group having 4 subjects. All subjects are for 100 marks and to clear the tests, you need to gain 40 % marks in all subjects, or 50 % marks in aggregate.
Now you are very much acquainted with the process. So, the next step is to clear the exam and for that, you have to make a schedule.
Here are some tips for those who want to clear the CA exam in one go-
You would be probably laughing at reading this line. Maybe you consider this as already existing thought in yourself but the reality is quite the opposite. Because believing in yourself is not a cup of tea for everyone.
Before starting anything one must assure himself or herself that they are capable to do it. And then you can see the magic happens. You must be prepared to sacrifice many things but trust me the hard work, patience, sacrifices will turn into the sweetest fruit you have ever tasted. It’s always better to struggle for some time instead of struggling for the whole life.
Usually, students jump on to start preparing but what they forget is to analyze the syllabus. This is the most important thing to do. If you don’t know what kind of units you have or which subject is your strength and which one is your weakness, you won’t be able to give your best.
Mark the words, hard work is the essence but smart work is the key. Imagine if you have to go from the ground floor to the 2nd floor and you have two options either you can choose a staircase or elevator, what you will do? You will run to the elevator. Don’t you? And if I ask why? Your answer will be because to save energy and to save time. Then why are you doing injustice with your syllabus? Instead of dividing your syllabus in chunks why are you just cramming? So, start working smartly. You can go to the CA coaching institute for better guidance from experienced teachers to achieve your goal.
If one day you are spending 8 hours on your study but on the next day you just study for 2 hours. Is this attitude justifiable?
You should be consistent. Imagine, you have to paint 4 walls. On the first day, you completed the 1st wall but on the second day, you were exhausted so you were able to complete just half of it. On day 3, you still were on the 2nd wall. Because of this inconsistency, you completed your project in a week. On the other hand, if you have the consistency you would be able to complete your project in 4 days. So, why you are postponing your success? Why are you wasting your attempts? When you are capable of doing it in one go.
Now you have a blueprint. All you have to do is to buckle up your shoes and put your heart and soul into the preparation. Success will knock at your door.
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