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Information on Chartered Accountant Course

By: Yogin Vora on August 11, 2009 2 Comments

Welcome to chartered accountancy course

The Chartered Accountancy Course is a professional course in Accounting introduced in our country in 1949, with the enactment of the Chartered Accountants Act, 1949. The Institute of Chartered Accountants of India was set up in that year as a statutory body to regulate the profession of chartered accountants. Under the Act, the Institute is both an examining and a licensing body. The responsibilities of conducting the Chartered Accountancy Course are also vested with the Institute. This course involves a blend of theoretical education and practical training and equips a student with knowledge, ability, skills and other qualities required of a professional accountant. On successful completion of the course, the student becomes entitled to apply for membership of the Institute which would in turn entitle him to use the professional description of “Chartered Accountant” and start his public practice as a chartered accountant after complying with the rules in this regard. At his option, instead of starting the public practice, he can take up an employment that requires the knowledge and expertise of a professional accountant.

In 1992, the Institute introduced the Foundation Course. A candidate who has passed the 10+2 Examination is eligible to take up the Foundation Course. The duration of the course is 10 months. After passing the Foundation examination, a candidates may take up C.A. Course without being an “eligible” graduate.

From October 2001, a person can join CA course either after 10+2 examination by registering for PE I Course of 10 months duration or after graduation with specified percentage or marks by registering for PE II course of 10 months duration. Those
not having specified percentage of marks in graduation examination, shall be registered for PE I course only.

The practical training for the students of the Chartered Accountancy course involves working in the office of a Chartered Accountant in practice or a firm of such Chartered Accountants for the specified period. A part of the training can also be taken in certain approved business or industrial enterprises. There are two types of training opportunities available to a student of the course: as an articled clerk or as an audit clerk. Articled clerk is a trainee attached to a Chartered Accountant in practice under a deed of articles for the duration of the training of 3 years, he/she may often find it difficult to bide the long period of waiting involved in gaining entry into the profession. They have perforce to work their way up in life and may not be able to afford to work without adequate remuneration for a period of three years which articleship involves. It is for such promising young persons, amongst the regular paid staff of practising chartered accountants, that the system of audit clerkship has been evolved; it gives them a chance to work their way up in the profession. A longer period of training namely, 4 years, is therefore prescribed in this case.

Main objectives of Education and Training for Chartered Accountants

 

  • To attract young talented students having aptitude for accounting education to make an early entry to the profession.
  • To ensure entry to only those students who have the potential for successfully completing the course;
  • To improve the overall quality of education and training and the competency of the members of the profession.
  • To equip students with the knowledge and ability to meet the challenges facing the profession and developing their faculties of reasoning, analysing and judgement.
  • To help students in inculcating a disciplined attitude for hard work, developing necessary skills in applying theoretical knowledge to practical situations.
  • To help students in acquiring professional and ethical values and attitudes.
  • To facilitate more concentrated practical training to articled clerks who join the course with more maturity and with better knowledge of relevant theoretical subjects.
  • To provide special emphasis on relevant dynamic changes in the environment including in information Technology.

Requirements for becoming a Chartered Accountant

ü  Enroll with the Institute for the Professional Education course prior to commencement of practical training and successful completion of PE I and PE II Examinations.

ü  PE-I will be applicable to students joining after 10+2 and graduates with less than specified marks as explained subsequently. For graduates with specified marks successful completion of only Professional Education [Course II] will be required.

ü  Completion of a compulsory computer training programme, as per the specification of the Institute prior to joining Practical Training.

ü  Practical Training for 3 years under a practising CA.

ü  Passing the Final Examination

ü  Attend the compulsory course on General Management and Communication Skills or any other course that may be specified by the Council, after completing the practical training and before applying for membership.

Professional Education Course – A gateway

Professional Education Course is the gateway to enter the chartered Accountancy course. The course in two parts – Professional Education (Course-I) & Professional Education (Course-II) [PE I & PE II]. PE I course is compulsory for student joining after 10+2 and graduates with less than specified marks. Candidates who are graduates with more than specified mars or those who have passed the final examination of the institute of cost and works Accountants of India (ICWAI) or the institute of company secretaries of India (ICSI) will be exempt from PE I. The term graduate for this purpose include a graduate/ post graduate in subjects other than dancing, photography, painting & sculpture and the like.

PE II course is compulsory for all irrespective of the fact whether a student is coming through PE (course I) stream or is exempted from PE (course I) requirement.

Professional Education (Course-I)

Eligibility requirements for registration

Ø Candidates who have passed Senior Secondary Examination (10+2) or equivalent recognized examination and graduates who have secured less then specified marks are required to register for PE (Course – I).

Ø No minimum percentage of marks is prescribed for registration.

Ø No, there is no age restriction.

The following categories of persons are exempt from PE (Course-I):-

  1. A commerce graduate having passed Accountancy, Auditing and Mercantile Law or Commercial Law as Full Examination Papers, securing in the aggregate a minimum of 50% marks.(For this purpose a paper will be regarded as a ‘Full Examination paper’ if it carries not less than 50 marks.)
  2. A non-commerce graduate having passed the graduation with mathematics as one of the subjects and securing in the aggregate a minimum of 60% of the total marks.
  3. Any other graduate having passed the graduation examination with subjects other than mathematics securing in the aggregate a minimum of 55% marks.
  4. A candidate who has passed the Entrance or Foundation Examination under C.A. Regulations, 1988.
  5. A candidate who has passed the Final examination of ICWAI and ICSI.

 

Provisional Registration

The facility of provisional registration for Professional Education (Course-I) is available to those candidates who have appeared in 10+2 examination and are awaiting their results. Proof of passing in the examination shall have to be furnished with in six months of provisional registration. It is not possible to register provisionally before appearing in the examination or while studying in 10+2 class.

Duration of Course

The minimum duration of Course is 10 months.

Tuition and Registration fee

The Registration and Tuition fee for PE-Course- I will be Rs. 2000.

The fee payable by Foreign Students registering for PE Course-I is US $ 100.

Cut-off dates for registration

A student may join PE (Course -I) at any time during the year. However, as the examinations will be held twice in a year i.e. May and November, it is necessary that a student must register at least 10 months before examination. Thus, the cut off dates will be as follows:-

-   For May Examination – 30th June of the preceding year

-   For November Examination – 31st December of the preceding year

Subjects for study

ª Fundamentals of Accounting

ª Mathematics & Statistics

ª Economics

ª Business Communication and Organisation & Management.

Passing professional educational (Examination-I)

A candidate who has appeared for PE (Examination-I) will be declared to have passed the Examination if he obtains at one sitting a minimum of 40% marks in each paper and a minimum of 50% of the total marks of all the papers.

Restriction on the number of attempts

A student will have to pass PE Examination-I within 5 consecutive attempts. For the purpose of reckoning the maximum permissible number of 5 attempts, only those Examinations which follow the issue of eligibility certificates will be taken into account. Non-appearance in an eligible attempt will also be reckoned as an attempt for this purpose.

Professional Education (Course-II)

Eligibility requirements for registration

ª A candidate who has qualified in PE Examination-I.

ª A commerce graduate with atleast 50% marks in the aggregate.

ª A non-commerce graduate with Maths as one of the subjects and with atleast- 60% marks in the aggregate.

ª Any other graduate without Maths with 55% marks in the aggregate.

ª A candidate who has passed the Entrance or Foundation Examination under C.A. Regulations 1988.

ª A candidate who has passed the Final Examination of ICWAI or ICSI

ª PE (Course-II) is compulsory for all. No one is exempt from PE (Course-II).

Provisional Registration

ª A candidate who has appeared in Professional Education (Examination-I) and is awaiting result.

ª A candidate who has appeared in Final Examination of ICWAI/ICSI and is awaiting result.

ª A candidate who has passed the second year graduation examination and is eligible to appear in the final year graduation examination within six months. In the case of such students pursuing third year graduation the candidate will have to give a declaration of his intention to appear in the final year graduation examination within the aforesaid period of six months.

 

Duration of Course

The minimum duration of Course is 10 months.

Tuition and Registration fee

The Registration and Tuition fee for PE-Course – II will be Rs. 2650.

The fee payable by Foreign Students registering for PE Course – II is US $ 130.

Cut-off dates for registration

A student may join PE (Course – II) at any time during the year. However, as the examinations will be held twice in a year i.e. May and November, it is necessary that a student must register at least 10 months before examination. Thus, the cut off dates will be as follows:-

-   For May Examination – 30th June of the preceding year

-   For November Examination – 31st December of the preceding year

Subjects for study

Group – I

ª Accounting

ª Auditing.

ª Business and Corporate Laws

Group – II

ª Cost Accounting and Financial Management.

ª Income-Tax and Central Sales Tax.

ª Information Technology

Passing professional educational (Examination-II)

ª A candidate can appear either in both groups simultaneously or one group in one examination and in the other group at any subsequent examination.

ª A candidate will be declared to have passed in Professional Education (Examination-II) only if he passes in both the groups.

ª A candidate will be declared to have passed in both groups simultaneously if he secures at one sitting-

Ø A minimum of 40% marks in each paper of each of the group and an aggregate of 50% of all the papers of each of the group

OR

Ø A minimum of 40% in each paper of both the groups and 50% in the aggregate of all the papers of both groups taken together.

ª A candidate will be declared to have passed in one group if he secures at one attempt a minimum of 40% in each paper and 50% in the aggregate.

Restriction on the number of attempts

A student will have to pass PE Examination-I within 5 consecutive attempts. For the purpose of reckoning the maximum permissible number of 5 attempts, only those Examinations which follow the issue of eligibility certificates will be taken into account. Non-appearance in an eligible attempt will also be reckoned as an attempt for this purpose.

Article ship

After passing the Professional Education (Examination -II), candidates are eligible for registration as articled clerks/Audit Clerks for practical training and for admission to the Final course of the Chartered Accountancy. The Articled Clerk is a trainee attached to a practising Chartered Accountant under a Deed of Articles for the duration of the training, namely, three years. An Audit clerk is a person who has served as a salaried employee for a minimum period of one year under a Practising chartered Accountant or a firm of Chartered Accountants in practices, on a monthly remuneration not below Rs. 1,500 per month in cities with a population of one million and above and Rs. 1,000 p.m. in other places. Such a person is provided with an opportunity of becoming a Chartered Accountant by registering himself as an Audit Clerk for practical training under the concerned Chartered Accountant or the firm of Chartered Accountants in practice wherein the Chartered Accountant is a partner. A slightly longer period of training, namely, 4 years, is prescribed in such a case.

The Chartered Accountancy Course thus involves unique a blend of compulsory theoretical education and practical training which run concurrently for a period of three years. Theoretical knowledge is sought to be integrated and reinforced with practical training.

Eligibility for admission to articleship

ª Is not less than 18 years of age on the date of commencement of articleship.

ª Has passed the Professional Education (Examination -II), and

ª Has successfully completed computer training programme as specified by the Council.

A candidate who is eligible for admission to the Chartered Accountancy Course by qualifying in the Foundation/or otherwise by passing Professional Education (Examination-II) and by completing the computer training in the prescribed manner may, in the first instance, approach a Chartered Accountant in professional practice (who is entitled to train articled clerks) and work out an arrangement for training under him as an articled clerk. Once such an arrangement is worked out by a Deed of Articles; the articled clerk should approach the Institute with supporting documents for registration of his articles service and pay the prescribed registration, tuition and other fees as give below. Such registration with the Institute is compulsory whereupon the candidate also becomes the student of the Board of Studies of the Institute under its postal coaching scheme.

In case he is registering as an articled clerk after passing Foundation Examination, he will be a student of Professional Education Course II and in case he is registering after passing Professional Education (Course II), he will be a student of Final Course under the new scheme.

Tuition and Registration fee

The Registration and Tuition fee for Final Course will be Rs. 3650.

The fee payable by Foreign Students registering for Final Course is US $ 160.

Final Course

Eligibility requirements for registration

ª Who has passed the PE II Examination.

ª Who has completed the practical training of three years or is serving the last six months of practical training on first day of the month in which examination is scheduled to be held and

ª Who has successfully complied with the requirements of the theoretical education scheme and produces a certificate from head of coaching organisation to that effect.

ª A candidate who has passed the Intermediate examination under C.A. regulations 1988 or the C.A. Regulations 1964, or the Intermediate or the First Examination under the C.A. Regulations, 1949 or was exempted from passing the first examination under that regulations shall also be admitted to the final examination provided he has completed the practical training as is required for admission as a member or has been serving the last six months of practical training including excess leave if any, on the first day of the month in which the examination is scheduled to be held.

ª A candidate already admitted to the final examination prior to commencement of new scheme shall not be required to comply with requirements of theoretical education scheme for securing Eligibility Certificate for applying in the Final examination.

Tuition and Registration fee

The Registration and Tuition fee for final Course will be Rs. 3650.

Subjects for study

GroupI

  • Advanced Accounting
  • Management Accounting and Financial Analysis
  • Advanced Auditing
  • Corporate Laws & Secretarial Practices

GroupII

  • Cost Management
  • Management Information & Control System
  • Direct Taxes
  • Indirect Taxes

Restriction on the number of attempts

There are no restrictions on the maximum number of attempts for the Final examination.

 

Additional course of study along with PE (Course-I)/II/Final)

A student pursuing PE Course-I/II, may pursue alongwith it his study for any approved graduation course, Computer Training Course as per the requirements of the Institute or any other course

 

Industrial training

The articled / audit clerk has an option to undergo training in a financial, commercial or industrial undertaking approved by the Institute, during the last year of prescribed period of training. This is with a view to giving them an exposure to the entire gamut of activity of such undertaking in a phased and systematic manner.

Eligibility to join industrial training

Ø After having passed both groups of the intermediate/ PE II Exam

Ø After completion of 2 years’ articled training i.e., Industrial Training can be   undergone only during the last year of the prescribed period of practical training.

Duration

Period for registration as Industrial trainee should not be less than nine months and more than twelve months including period of excess leave taken.

Who can impart Industrial Training

Ø Financial / Commercial / Industrial undertakings with minimum fixed assets of Rs. 1 crore; or minimum turnover of Rs. 10 crores; or minimum paid up share capital or Rs. 50 lakhs, or such other intimation or organisation as ma be approved by council from time to time and having in its employment one or more Chartered Accountants who has been a member for a continuous period of three years.

  • An Associate for a continuous period of three years can train ONE Industrial Trainee.
  • A fellow member can train TWO Industrial Trainees.

Ø Organisation intending to impart industrial training should obtain prior approval of the Institute by submitting the copy of annual Accounts along with such request.

Ø Industrial training can be received only under a member of the Institute.

Course on General Management and Communication Skills

  1. The Course contemplated under the aforementioned Regulations should commence only after completion of practical training, in its entirely, but before enrolment as a member;
  2. The duration of the Course should be a 15 days’ full time course;
  3. The Course should be compulsory in respect of any candidate who passes the Final examination, in its entirety, under the new syllabus (to be held in November, 2002 and onwards). Similarly, if a candidate passes one of the Groups of the Final examination in the Final (new syllabus) examination to be held in November, 2002 and onwards (other group having been passed earlier), he is also compulsorily required to undergo and complete the said Course;
  4. In respect of all others (i.e. those not covered under [c]), the Course is not compulsory and therefore, if such candidates, on their own, desire to undergo and complete the Course, they be permitted to do so, on an optional basis, but only after completion of their practical training in its entirety;
  5. Those candidates, who would be successfully completing the aforementioned Course should be issued a course completion certificate.

Opportunities for chartered accountants

Chartered Accountancy – A challenging career at the cutting edge of trade, industry and economic growth. A profession that imparts the best of technical skills in financial and management areas and abilities necessary for deciding and acting upon the high-pressure situation. No wonder that the Chartered Accountancy is a high status profession and a passport to challenging and rewarding career in industry and commerce. Chartered Accountants today hold top management positions in public as well as private sector. They also render professional services as accountants and management consultants. The society has increasingly recognized the services of CAs in entire gamut of management consultancy including management accounting, management information and control system, international finance, information technology and financial services sector. CAs today is part of the top management team and hold key position in corporate sector. Even in the government, they occupy prominent positions. Rapid changes taking place in the economy have further opened up new vistas of opportunities for the CAs. On becoming a CA, you have many options for pursuing challenging and rewarding career.

Independent professional practice

As practitioners of public accounting, CAs may start professional practice as a proprietor or join any existing firm as a partner or staff member. A CA has been entrusted with substantial responsibility of various legislation  such as compulsory audit of accounts of all company, banks, co-operative societies, stock broker, big income tax assesses, large borrower, etc. a CA also provide compilation and review services as and when require by the enterprise. While practicing an independent professional, a CA also act as a business advisor by providing all kind of services including the preparation of financial report, helping the business to secure loan, preparing financial projection showing how the loan will be repaid, and determining the viability of business. As a tax advisor, CA helps business and individual comply with tax laws and represent their client before government agencies.

Examination Centers:-

In india

  • AGRA
  • AHMEDABAD
  • AJMER
  • ALLAHABAD
  • ALLEPPY
  • ALWAR
  • AMBALA
  • AMRITSAR
  • ASANSOL
  • AURANGABAD
  • BANGALORE
  • BAREILLY
  • BARODA
  • BELGAUM
  • BHILWARA
  • BHOPAL
  • BHUBANESWAR
  • BIKANER
  • CALICUT
  • CHANDIGARH
  • CHENNAI -I*
  • CHENNAI -II*
  • CHENNAI -III*
  • CHENNAI -IV*
  • COIMBATORE
  • CUTTACK
  • DEHRADUN
  • DELHI/NEW DELHI-I**
  • DELHI/NEW DELHI
  • DELHI/NEW DELHI-II
  • DELHI/NEW DEL
  • DHANBAD
  • DURG
  • ERNAKULAM
  • FARIDABAD
  • GAUHATI
  • GHAZIABAD
  • GOA
  • GWALIOR
  • HISAR
  • HYDERABAD-I***
  • HYDERABAD-II***
  • INDORE
  • JABALPUR
  • JAIPUR
  • JALGON
  • JAMMU
  • JAMSHEDPUR
  • JODHPUR
  • KANPUR
  • KOLKOTTA-I****
  • KOLKOTTA-II****
  • KOLKOTTA-III****
  • KOLHAPUR
  • KOTA
  • KOTTAYAM
  • LUCKNOW
  • LUDHIANA
  • MADURAI
  • MANGALORE
  • MATHURA
  • MEERUT
  • MORADABAD
  • MUMBAI-I*****
  • MUMBAI-II*****
  • MUMBAI-III*****
  • MUMBAI-IV*****
  • MUMBAI-V*****
  • MUMBAI-VI*****
  • MUMBAI-VII*****
  • MUMBAI-VIII*****
  • MUZAFFAR NAGAR
  • MYSORE
  • NAGPUR
  • NASIK
  • NOIDA
  • PALGHAT
  • PANIPAT
  • PATIALA
  • PATNA
  • PUNE
  • RAIPUR
  • RAJKOT
  • RANCHI
  • ROHTAK
  • SHARANPUR
  • SALEM
  • SHIMLA
  • SILIGURI
  • SOLAPUR
  • SURAT
  • TIRUCHIRAPALLI
  • TRICHUR
  • TRIVENDRUM
  • UDAIPUR
  • UDUPI
  • UJJAIN
  • VARANASI
  • VIJAYAWADA
  • VISAKHAPATNAM

Overseas

  • Abu dhabhi
  • Bahrain
  • Botswana
  • Dubai
  • Doha
  • Jeddah
  • London
  • Nairobi
  • Zambia

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2 Responses to “Information on Chartered Accountant Course”

  1. Margareta Mcglown on: 14 March 2011 at 2:53 am

    Keep the good work! Expect reading a lot more of your accounting stuff in the future. I believe it might be also fantastic if you add “send to” tool so people can send the articles to their pals.

  2. santosh on: 29 March 2011 at 5:31 pm

    tell me admission details

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