#CareerBytes: Important things to know about Chartered Accountancy (CA)
What's the story
In India, Chartered Accountancy (CA) is one of the most sought-after professional courses. The Institute of Chartered Accountants of India (ICAI) provides the three-level CA program comprising Foundation, Intermediate, and Final courses. Though the career path for becoming a CA is considered challenging, it is a very promising career. Here are some important things every aspirant should know about Chartered Accountancy.
Eligibility
Who is eligible to pursue the CA course?
The minimum eligibility to pursue the CA course is 10+2 examination (or equivalent) from any recognized education board. After completing 10+2, the students can enroll for the entry-level CA Foundation course. Then, after completing four months of Study Period they need to register to appear for the Foundation Course Examination. Those who have passed 10+2 in any stream are eligible for Chartered Accountancy.
Stages, Duration
Different stages and duration of the CA program
Like mentioned above, after 12th, one needs to register for Foundation Course (4 months' study period) and then pursue BCom (simultaneously) and enroll for the Intermediate Course (8 months' study period). Next, they need to pursue Articleship (3 years) and then clear the Final exam. The duration after 10+2 is about 4.5 years. However, after completing graduation, one can directly enroll for CA Intermediate.
Information
What is the CA success rate?
Chartered Accountancy is considered one of the most difficult programs not only in the country but also the world. Clearing the various stages of CA and qualifying in the Final exam is very tough. The average passing percentage of the CA program is just 0.5%.
Career prospects
Career prospects of Chartered Accountants
Chartered Accountants (CAs) are involved in various roles. They have a wide range of job options with companies; they can also practice privately. CAs are involved in cost auditing, accounting, statutory auditing, tax-auditing, banking, etc. They are responsible for an organization's core accounting work. CAs analyze financial risk factors, look after taxation and auditing, and design an efficient financial system for an organization.
Information
What is the salary of CAs?
Like mentioned above, CAs deal with accounting, banking, taxation, law, audit, finance, etc. Their salary also depends on the type of job they are doing. However, the average salary offered to a fresher CA is up to Rs. 6.5 lakh per annum.