Are you a commerce student in your last year who want to pursue a rewarding career as a Chartered Accountant (CA)? Look no further because SuccessEdge Academy is here to walk you through the CA course details after 12th grade. This blog will present you with a step-by-step path, eligibility criteria, and insights into the great job profiles and earnings that await CA grads.
What is a Chartered Accountant (CA)
The CA course, often known as the Chartered Accountancy course, is a professional program that allows persons to become Chartered Accountants. Accountants play an important role in financial management, auditing, taxation, and consulting services. The CA program consists of rigorous training, exams, and practical experience, and it is governed by professional organizations such as the Institute of Chartered Accountants of India (ICAI). The path normally consists of phases such as the Common Proficiency Test (CPT), Integrated Professional Competence Course (IPCC), Articleship/Internship, and, finally, the CA Final exam. Individuals who successfully complete the program are designated as Chartered Accountants, allowing them to undertake a wide range of financial obligations in a variety of industries.
What Does a CA Do ?
Scope of a CA would be
- Auditing
- Financial & Cost Accounting
- Taxation
- Management Accounting
- Chief Accountant
- Chief Financial Officer
- Chief Manager
- Department Heads
- Lecturer/Professor
- Advisor to the Government
- GST Service Providers
- Internal Audit
- Finance manager
Importance of Pursuing a CA Course
- Professional Prestige: Being a Chartered Accountant carries a high level of professional distinction. It is a prestigious qualification in the fields of finance and business.
- Versatile Career Opportunities: CA provides the door to a variety of career paths, including employment in accounting, auditing, taxation, finance management, and consulting services. CAs are in high demand in a variety of businesses.
- Financial Stability: The CA profession provides financial security. Qualified Chartered Accountants frequently earn attractive incomes, and their knowledge is prized in both national and international job markets.
- Integral Business Role: CAs are essential in commercial decision-making. They assist firms with financial planning, risk management, and strategic financial advice.
- Global Recognition: The CA qualification is worldwide recognized, opening up potential for international job opportunities and collaborations.
- Entrepreneurial Advantages: CAs are well-equipped to handle business finances, making them significant assets for entrepreneurs and business owners.
- Continuous Learning: The CA program is an ongoing learning experience. Professionals in this field must keep up with changing financial legislation and industry practices.
- Ethical Standards: Chartered Accountants uphold strong ethical standards, which helps to ensure the legitimacy and integrity of financial systems and reporting.
- Gateway to Specializations: CA is the foundation for specialized professions including forensic accounting, financial analysis, and management consulting.
- Global Business Environment: CAs are becoming increasingly important in negotiating complex foreign financial landscapes as organizations increasingly globalize.
Eligibility Criteria for Becoming a CA after 12th Grade
Candidates must achieve the following qualifying conditions to participate in the CA course after the 12th grade:
- Clear the senior secondary examination (10+2).
- Successfully pass the entrance examinations or foundation examinations.
- Register for intermediate/professional education.
- Students without Accounting Technician Course (ATC) can also opt for this course.
Step-wise Guide to Pursuing CA After 12th
- CPT Route after Class 12th:
- Register for the Common Proficiency Test (CPT) with ICAI.
- Exam subjects: Accounts, Law, Economics, and Quantitative Analysis.
- Register for Integrated Professional Competence Course (IPCC):
- Eligibility: Passed CPT and class 12th.
- Seven subjects with 700 marks; minimum 40 marks in each subject required.
- Articleship/Internship:
- Three-year training program alongside the CA final exam.
- CA Final Course Registration:
- Enroll during the last 6 months of the internship.
- Successful completion allows one to become a Chartered Accountant.
- Fees:
- The entire course costs around INR 50,000 to 80,000, covering various charges.
- Duration of the CA Course:
- Approximately 4.5 to 5 years post-12th.
- CA Syllabus:
- Varied syllabus across CPT, IPCC, and CA Final levels, covering essential topics.
Salary of a Chartered Accountant in India
In India, a CA’s salary is mostly decided by their job description and the organization that employs them. Government jobs offer job security but may not pay well. Working for multinational corporations (MNCs) on the other hand can result in significantly better pay.
The following is a breakdown of annual chartered accountancy salaries in India by job profile for 2023: Click here to know more
- Finance Officer: ₹30-35 Lakh
- Account Executive: ₹20-22 Lakh
- Accountant: ₹12-15 Lakh
- Finance Manager: ₹10-12 Lakh
- Financial Analyst: ₹6-8 Lakh
- Assistant Account Manager: ₹4-6 Lakh
- Senior Account Executive: ₹3-5 Lakh
- Business Analyst: ₹5-7 Lakh
- Account Assistant: ₹3-5 Lakh
Conclusion
Taking the CA exam after 12th opens the door to a demanding and rewarding profession. SuccessEdge Academy is dedicated to offering thorough instruction and support to ensure your success in the world of finance. With SuccessEdge Academy, you may pave the route to becoming a Chartered Accountant!