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What is CA? How to become a Chartered Accountant?

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What is CA and how to become a Chartered Accountant?
From the manufacturing sector to the services sector, companies not only have to run a profitable enterprise but also have to deal with finance and tax matters. So, they make sure to employ qualified and dedicated Chartered Accountants or CAs to deal with auditing and taxation in an efficient manner. These individuals are heroes in their own right simply because they are instrumental in guiding a company to success. You must’ve heard family members talk about them with great respect or close uncles recommending their
favourite CA. So, who is this mysterious person?

 A CA is a person who manages and handles the accounts and finances of individuals or organisations. CAs may have to boldly venture into areas of auditing, investments, budgeting, financial planning, banking and risk management, and they are always credited with either their passion for or their excellence in Chartered Accountancy. 

Chartered Accountancy is a financially rewarding and challenging career. However, regular colleges do not offer a Chartered Accountancy course. ICAI—Institute of Chartered Accountants of India—is a regulatory body which maintains the quality of Chartered Accountancy education in India. If you plan to become a CA, then you have to get yourself registered with ICAI. 

Your entry to Chartered Accountancy is the Foundation Course. 

How to register for CA Foundation (previously CA-CPT)?
Registering for this course is the very first step you need to take after Class 12. After registration, you will be required to study for a minimum of 4 months in order to be eligible to take the CA Foundation Exam. If you have registered for CA Foundation on or before 30th June 2017, then you will be eligible to answer the December 2017 exam, whereas if you have registered after 30th June 2017 but on or before 31st December, then you will be eligible to answer the CA- Foundation May 2018 exam. There are no enrollments for CA Foundation after 30 June. 

What if you are a graduate or post-graduate of Commerce and wish to enter Chartered Accountancy?
Well, the good news is that you can register directly for the Intermediate Course. You do not have to go through the Foundation Course. Because you are exempted from taking the Foundation Course, registering for the Intermediate Course is your first step to enter Chartered Accountancy. You can also register directly for the Intermediate Course if you have cleared the Intermediate level exam held by The Institute of Cost Accountants of India or The Institute of Company Secretaries of India. 

What is the exam paper pattern of CA Foundation?
The Foundation Exam comprises four papers—two subjective papers and two objective papers (with negative marking for choosing an incorrect option). You need a minimum of 40% marks in each paper and a minimum of 50% marks in aggregate of all papers to clear the exam.

The exam is held twice a year—in May and in November. The exam dates and centres can be found at www.icai.org.

 For how long will the CA Foundation registration be valid?
Foundation Course registration is valid for 3 years. You can revalidate your registration any number of times for another 3 years by paying a revalidation fee as decided by the Council (latest fee is Rs 300). After registering for the Foundation Course, you also have to fill a separate application form to answer the Foundation Exam.

Besides guiding you in your CA studies, we at CAprep18 will keep you informed about all announcements and notifications regarding the Foundation Exam. Further information can be found at www.icai.org

What is CA Intermediate? (Previously also called IPCC)
CA IPCC/Intermediate is the true first stage of the Chartered Accountancy curriculum. As a Class 12 student, you can register for this course only after clearing the Foundation Exam. As a graduate or post-graduate Commerce student who wishes to enter Chartered Accountancy, you can register directly for the Intermediate Course and are exempted from taking the Foundation Course. You can also register directly for the Intermediate Course if you have cleared the Intermediate level exam held by The Institute of Cost Accountants of India or The Institute of Company Secretaries of India. 

The Intermediate Course helps you receive working knowledge of core and allied subjects related to Chartered Accountancy. You have to study for eight months before you answer the Intermediate Exam for the first time. You will be imparted with knowledge of present-day technology and skills during a four-week Integrated Course on Information Technology and Soft Skills (ICITSS) before you join practical training.

What is the syllabus for the CA Intermediate exam (Previously also called CA-IPCC)?
Subjects of the Intermediate Course are classified into two groups. You can check here of CA Intermediate Syllabus 2018 Group 1 & Group 2. After clearing the Foundation Exam, you can study these subjects and answer the Intermediate Exam group-wise or attempt both groups together. Only after clearing either or both groups of the Intermediate Course, you can join
practical training. 

What about the graduate and post-graduate Commerce students?
As a graduate or post-graduate Commerce student, you can register for practical training after completing ICITSS and need not wait to clear any group of the Intermediate Exam. You can answer the Intermediate Exam after completing nine months of practical training. As a final year graduate student, you can register for the Intermediate Course on a provisional basis. During the provisional registration period, you can undergo and complete ICITSS, but you can begin practical training only on submission of satisfactory proof of having passed the graduation exam with the required marks. 

For how long is the CA Intermediate registration valid?
Intermediate Course registration is valid for 4 years. You can revalidate your registration any number of times for another 4 years by paying a revalidation fee as decided by the Council (latest fee is Rs 400). 

Besides guiding you in your CA studies, we at CAprep18 will keep you informed about all announcements and notifications regarding the Intermediate Exam. Further information can be found at www.icai.org

What is the CA Final Course?
The CA Final Course is the last stage of the Chartered Accountancy curriculum. This course helps you receive advanced application knowledge of core and allied subjects related to Chartered Accountancy. During the Final Course, you develop a strong understanding of information technology and you improve your soft skills necessary for the corporate world. 

How to register for CA Final?
You can register for the Final Course after clearing both groups of the Intermediate Exam, but you can answer the Final Exam during the last six months of practical training only after successfully completing the four-week Advanced Integrated Course on Information Technology and Soft Skills (AICITSS). You will be tested on your knowledge of advanced information technology through an online/OMR test conducted by the Examination Department. 

What is the syllabus for the CA Final exam?
Subjects of the Final Course are classified into two groups. You can check here of CA Final New Syllabus Details You can study these subjects and answer the Final Exam group-wise or attempt both groups together. An elective paper has been introduced in the curriculum of the Final Course. You can choose a paper on Risk Management, Financial
Services and Capital Markets, International Taxation, Economic Laws, Global Financial Reporting Standards or Multi-Disciplinary Case Study. 

For how long will the CA Final registration be valid?
Final Course registration is valid for 5 years. You can revalidate your registration any number of times for another 5 years by paying a revalidation fee as decided by the Council (latest fee is Rs 500). 

Besides guiding you in your CA studies, we at CAprep18 will keep you informed about all announcements and notifications regarding the Final Exam. Further information can be found at www.icai.org.

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