CA Course after 12th is quite popular
Commerce students after graduation, often limit themselves by looking at certain courses. The CA course is popular for students aspiring to work in core finance. Besides the fact it takes around five years to complete the entire course, not much is known to students.
Commerce students after graduation, often limit themselves by looking at certain courses. The CA course is popular for students aspiring to work in core finance. Besides the fact it takes around five years to complete the entire course, not much is known to students. To prepare for the Chartered Accountant course, one must know certain aspects first. Let us read to know about the eligibility criteria, the levels and fees to become a CA.
Who is a Chartered Accountant?
To start the conversation on the Chartered Accountant course, let us understand who is a Chartered Accountant. A Chartered Accountant, or CA for short, is a finance professional with a finance certification. These individuals receive theoretical and practical training to work in different areas of finance. Some avenues CAs work in Tax, Auditing, Financial Management and also Accounting.
Individuals from all backgrounds and fields can, in truth, apply to the Chartered Accountant course. The Institute of Chartered Accountants of India or ICAI even accepts students who have completed their class 12th board examinations. School-level applicants must, however, have the Common Proficiency Test score. On the other hand, for undergraduate and postgraduate degree holders, ICAI has a minimum test requirement of 55% to 60%.
Once enrolled, one must complete three levels to become a Chartered Accountant. The levels, specifically, are the foundation, intermediate and final. Besides the level and examinations, one must complete an internship or articleship. After 4.5 to 5 years, individuals register with ICAI as a CA. After that, they can work in several capacities besides as Chartered Accountants. For instance, some other job profiles CAs are eligible to work for are Chartered Accountant, Taxation Expert, Financial Advisor, Finance Manager, Accounting Firm Manager and Cost Accountant.
CA Course Details
|Age||17 to 25 Years|
|Average Fees Incurred||INR 1,06,100/-|
|Average Salary Offered||INR 8,04,427/- LPA|
|Employment Roles||Chartered Accountant, Taxation Expert, Financial Advisor, Finance Manager, Accounting Firm Manager, Cost Accountant|
What are the 3 Levels of a CA Course?
To become a Chartered Accountant, students need to complete three levels. Each stage of the CA course has multiple subjects and an examination at the end. The examinations for the second and final stages take place twice a year. Besides theoretical CA study, there is a mandatory three-year long internship or training period known as ‘Articleship’.
- CA Foundation: The first level of the Chartered Accountancy course is the CA Foundation. The CA course details for this level cover the basics of Accounting, Business Law and business economics. Students also have to learn Business Mathematics and Statistics. Another major part of this level’s syllabus involves learning about communication. The syllabus also has subject topics like writing articles, reports and letters.
- CA IPCC: The CA Intermediate is the second stage after completing the first level. This level is not only vast but also takes some time to complete. The syllabus for this level has, in particular, a total of eight papers. The subjects are Accounting, Corporate Law, Cost and Management, and Taxation. Advanced Accounting, Auditing, Enterprise Information systems and Financial Management exist.
- CA Final: The final stage of the CA course also has eight different papers. One of the papers out of eight is an elective chosen during registration. Besides the subjects taught earlier, this level has Financial Reporting and Cost Management. There are also Direct and Indirect Tax Laws, including Advanced Auditing.
Step by Step Process for a CA Course after 12th
To better understand the CA course details after 12th, we must look at what a class 12th student must do to become a CA. The good news is that students can be admitted during their last high school year. Applicants must, however, fulfil the eligibility criteria for the CA course before taking admission. One can read through a general step-by-step process for reference to answer the question of how to become CA after 12th commerce.
- After completing class 12th exams, register for the CA Foundation course.
- Complete the four-month long study period, and then attempt the CA foundation examinations.
- Enrol for the CA Intermediate course and study all the subjects within 8 months.
- Attempt the intermediate examinations. There are two parts at this level, and at least one must be done.
- Take up the four-week Integrated Course on Information Technology and Soft Skills and complete the articleship. The articleship, specifically, lasts three years.
- Register and also complete the CA Final course. Complete the examinations to become eligible for ICAI registration as a CA.
You can also read our blog on What to do after Quitting CA?
CA Course Duration after 12th
One major concern for CA course students is the duration. The CA duration generally takes around five years to complete. At each stage, students have a study period of some months. After the study period, there are examinations to take. In the study period, one can also attend doubt-clearing sessions at ICAI. Besides the self-study and live sessions, there is a three-year-long articleship or internship. The duration of each CA stage is, in truth, different.
- CA Foundation: All the subjects of the CA foundation are completed over four months. Here, this period refers to the period between the registration and examination dates.
- CA Intermediate: The second stage of the CA course has a slightly longer study period as there are more subjects and articleship. The study period, in particular, is for eight months. On the other hand, students complete the articleship over three years.
- CA Final: When wondering about CA how many years, one must also consider the final stage. This stage takes five months to finish before taking the final examinations.
CA Course Subjects and Syllabus
To continue the chartered accountant course details discussion, prospective students must also understand the CA course syllabus. In particular, one must answer the question “what subjects are needed for chartered accountant” in the syllabus. Each paper is 100 marks, and individuals must also pass each paper.
|Foundation||Business Law and Business Correspondence & Reporting, Principles and Practices of Accounting, Business Mathematics and Logical Reasoning and Statistics, Business Economics, Business and Commercial Knowledge|
|Intermediate||Accounting, Corporate Law, Cost Accounting, Taxation, Auditing and Assurance, Enterprise Information System and Strategic Management, Advanced Accounting, Financial Management and Economics for Finance|
|Final||Financial Reporting, Strategic Financial Management, Corporate Law and Economic Laws, Advanced Auditing and Professional Ethics, Strategic Cost Management and Performance Evaluation, ElectiveDirect Tax Law, Indirect Tax Law|
CA Exam Eligibility in India
Before looking up how to become a CA after 12th, one should understand the CA course eligibility criteria. All applicants must, in truth, meet the minimum criteria to qualify for admission. These criteria are true for all applicants for foundation-level admissions. After that, the criteria cleared the previous level examination for all other levels.
- The criteria for candidates who wish to enrol into CA after 12th are different when enrolling after the bachelor’s. For high school students, acquiring a Common Proficiency Test score is necessary. The CPT exam takes place twice a year and also covers four subjects. These subjects are Law, Economics, Accounts and also Quantitative Analysis.
- One must meet the minimum aggregate score requirement for applicants with an undergraduate degree. For commerce students, the minimum score should be 55%, and for all others, it is 60% for direct entry.
- Direct entry is also possible for certain candidates with professional qualifications. If the applicant can have completed their CS Executive or CMA Intermediate exam, they can also take direct entry.
You can also view our Blog on CFA vs CA – What is the Difference?
Best Careers After CA Course
To get a further understanding about CA course, let us look at some job profiles one can work on after completing CA. Generally, most individuals continue working as Chartered Accountants. However, this course also makes students eligible to work in other job profiles.
Chartered Accountants work in all finance fields like taxation, audit, financial management etc. Some CAs also take part in general management. These certified professionals are responsible for all the money coming in and going out of the company. They typically handle all the financial reports and develop recommendations to reduce expenses. The average salary of a CA is INR 8,04,181/- LPA.
Finance Managers are in managerial positions at companies. They take part in major financial decisions like budgeting and also forecasting. The Finance Manager also manages the budgets of each department by keeping track of expenses. The manager also handles any projects that are ongoing at the company. Most companies offer their Finance Managers salaries of INR 10,10,284/- LPA.
Per the name, Financial Advisor is an advisory role that individuals who completed their CA examinations can work as. These professionals will not only manage money but also develop the best ways to increase it. Financial Advisors do a lot, from savings, insurance, tax, and retirement planning. The salary for this role varies, but it is INR 3,99,090/- LPA on average.
Financial Analysts are analytical experts who can work in several industries of finance. Most CA graduates also work in this role after finals. They will analyze data to find patterns and help businesses make the best decisions. The Analyst will even help prepare the investment strategy and annual budget. This is a research-heavy post for which one can earn around INR 4,34,614/- LPA.
Auditors are external professionals, usually employed at Government organizations. They check the financial records and also the statements of companies. They do so to ensure they are made properly and no law is broken. When an organization’s record is being challenged for honesty, an auditor comes into the picture. In particular, the average salary for this role is INR 5,03,210/- LPA.
While Auditors are mostly independent workers, Internal Auditors work full-time with companies. They evaluate the business activities and also transactions of their company. They must ensure all national and state laws and procedures are followed. In the end, a report stating the weaknesses is presented to the board of directors. Internal Auditors can make INR 5,64,750/- LPA after completing CA.
Public Accountants are accounting professionals who need to earn an extra certification to work in this capacity. They will work with companies to help them make sense of financial statements and data. Besides accounting, the CPA will also help with tax and audit procedures. The CPA will also ensure all documents are up to date with national regulations. A CPA can earn around INR 6,95,152/- LPA.
Cost accountants are specialized branch of accountants. They will look over production, inventory, repairs, and daily operations costs. Cost accountants also perform profitability analyses to understand which products and services make the most profits. Other duties also include verifying financial performance. Based on their work, reports are made with suggestions for changes. Individuals who have, in particular, done their CA can earn INR 5,90,382/- LPA as a Cost Accountant.
After the CA course duration of 5 years, individuals can also prepare to work for Government organizations. They can work in either state or central Governments in administration. Their scope of work includes looking over public funds, financial audits, and research on financial issues. One could be required to qualify for a written examination to earn around INR 3,90,000/- LPA.
Taxation Experts, also known as Tax Advisors, provide tax consulting services. They are professionals who have advanced knowledge of tax and also accounting. Generally, people hire Taxation Experts to help minimise the tax burden. Here, it is worth noting that Financial Advisors and CPAs can also work as Taxation Experts. Regardless of work experience, a Taxation Specialist will make around INR 6,39,171/- LPA.
Accounting Firm Manager
The Accounting Firm Manager works with a firm’s financial statements and records. For instance, reports, bills, budgets and payroll come under the Accounting Manager’s responsibilities. The Accounting Manager will also develop a way to record financial data. This is a mid-level management position with other employees under them. Per reports, an Accounting Firm Manager earns around INR 6,79,049/- LPA.
You can also read out blog on Salary of a Chartered Accountant in details.
Practice Your Skills With Chegg
Among all finance courses, the CA course is, in truth, the most prestigious. It is a hard course to complete, leaving students wondering how to become CA after 12th. However, students get in-depth training to handle a company’s finances over five years. This in-demand professional course can enable students to make high salaries.
While preparing and taking the CA level examinations, there is an option to make extra money. Chegg Experts can utilise their knowledge to work with students by clearing up doubts. The application process also involves a short written test after which one can make comfortable extra spending money.
Frequently Asked Questions
Q.1 What is the CA course subject?
Ans. The entire Chartered Accountant course covers several subjects from basic to advanced levels. Each level has different subjects. Some subjects the course covers are Accounting, Business Mathematics, Business Economics, and Communication are part of the foundation level. The intermediate level has Cost Accounting, Taxation, Financial Management, and Corporate Law. Finally, the CA finals have subjects like Financial Reporting, Electives, Direct and Indirect Taxes etc. The course even has electives to choose from at the final level. Besides regular subjects, individuals also have to complete a mandatory articleship.
Q.2 What is the qualification for CA?
Ans. Many have a common query: how to become a chartered accountant after 12th. The truth is to become a CA, both high school pass out and graduates are eligible. For the former, however, one must have a CPT score. Individuals with an undergraduate degree should have at least 55% of commerce students. On the other hand, students from other fields must have a 60% minimum score. For specific eligibility criteria, one must visit the ICAI website.
Q.3 Which course is best for CA?
Ans. There is, in truth, no specific requirement to enrol on the Chartered Accountant course. ICAI accepts high school students who have taken their school leaving examination. However, they must have a Common Proficiency Test score. Primarily, finance and commerce students opt to do CA. Although, students in Science, Arts and other fields can apply. There are also no limitations on the undergraduate or graduate degree the applicant must have.
Q.4 What is the CA course fee?
Ans. The fees for the entire Chartered Accountant course are on the affordable side. For the foundation level, the total fees, including registration, prospectus cost and subscription, are INR 9,800/-. After that, the intermediate course is INR 18,000/-. This figure includes registration fee, student activities fee and fee for articles assistant. The final level has a fee of INR 22,000/-, which is the registration fee. For the latest fees, visit the ICAI website.
Q.5 What is the duration of a CA course?
Ans. The Chartered Accountant course is considered long. Individuals are left wondering “how many years to complete CA” or “CA course how many years”. The total duration for the entire course is around five years. For each level, the duration refers to the study period for students to complete the subjects. The foundation’s duration is four months, eight months for the intermediate and three years for the final stage.