CA Course after 12th in India

CA Course details after 12th - CA is one of the most prestigious qualifications and professional course in the world. It requires a thorough knowledge of subjects such as auditing, taxation, and accounting in order to be successful. In India, the CA programme is conducted by the ICAI (Indian Chartered Accountants Institute) located in New Delhi. Scope for CA is immense and they are highly paid for their knowledge, expertise and skills. It truly does require real grit, coaching and guidance, time management skills, a desire to excel in the course. CA is one of the top 6 careers that can be chosen after B.Com.

Here is the content of the article - "CA Course details after 12th"

  1. CA Eligibility
  2. CA Entrance Test Examination and Exemptions
  3. CA Course Details
    1. CA Foundation
    2. CA Intermediate
    3. CA Final
  4. What is CA Articleship
  5. CA Course Duration after 12th
  6. Top Colleges for CA Course
  7. Institute of Charted Accountants of India
  8. Jobs and Career after CA
  9. Chartered Accountant Salary

CA Eligibility

The basic eligibility criteria for CA is the completion of 10+2 Class with a minimum of 50 per cent aggregate from a recognized institute and/or board. One could have pursued Class 12 from science, commerce or arts background. CA course after 12th can be done by registering and taking up the CPT (Common Proficiency Test). The exam takes place twice a year in April and October respectively.

After successfully clearing the Common Proficiency Test, students can register for IPCC (Integrated Professional Proficiency Test) by registering 9 months before the exam. Students are required to register for an Articleship and practice CA before registering for the final CA exam which takes place during the last 6 months of the articles along with GMCS. GMCS is a short course on general management and communication skills.

The candidates who wish to pursue the CA course need to clear the Common Proficiency Test (CPT) exam for getting admission in the CA course. However, the candidates who have completed their graduation are exempted from appearing for the Common Proficiency Test (CPT) exam and they can directly join the IPCC Course i.e., the second stage of CA course. 

CA Entrance Examination and Exemptions

  • Commerce graduates securing above 75% of marks in graduation from a recognized university are exempted from appearing for the entrance exam and can join directly for IPCC course.

  • For graduates doing CA after B.Com, one can benefit from a direct registration scheme whereby skipping the CPT exam, which has now been rechristened as CA foundation. They can directly register for IPCC, clear it and apply for final CA.

  • Accounting, Mercantile Laws, General Economics and Quantitative Aptitude are some of the subjects of the entrance test syllabus.

  • CA can be done both as a full time or a part-time course or via correspondence. It is a good option though to pursue it along with a graduate degree.

  • The entrance test known as CA Foundation has been explained in detail in the next section of the article.
  • With the advent of technology, students can search and opt for top schools for study across the globe keeping in mind their financial affordability and career building.

  • ICAI (Institute of Cost Accountants of India) previously known as ICWA (Institute of Cost and Work Accountants of India) can also be pursued along with CA, but only one of two can be practised.

  • ICWA is a combination of collecting, assimilating, collating, and analyzing financial information from every area of an organization. A degree in cost accounting equips the knowledge on competently managing the finance.

CA Course Details

Chartered Accountancy is divided into three parts and each step has to be cleared by the candidate to become a CA. Here are the three steps in the journey of becoming a Charted Accountant.

There is no age limit to study CA, only interest matters. Finance is the lifeblood of every business and is required in every aspect of its function. Hiring CA does not only provide value for money but also helps achieve organizational financial goals. Saving money is equal to money earned and spent.

  1. CA Foundation
  2. CA Intermediate
  3. CA Final

CA Foundation

CA Foundation is an entry-level, national examination that acts as the first step towards getting closer to becoming a CA. It is conducted biannually by the ICAI who set the CA Foundation syllabus and the subjects a student must study. They mostly focus on the application, comprehension, and knowledge aspects of chartered accountancy. Each one of these papers is for 100 marks with a 3-hour duration for each. This is attempted in an offline format. The subjects/topics of the exam papers for the year 2019 are as follows

  • Paper 1 - Principles and Practice of Accounting
  • Paper 2 - Business Laws and Business Correspondence
  • Paper 3 - Business Mathematics, Logical reasoning and Statistics
  • Paper 4 - Business Economics and Business and Commercial Knowledge

CA Intermediate

The Intermediate Course is designed as the bridge between foundational subjects and the advanced concepts that one would learn about in the practical training and CA final. It is extremely important if not the most important step in the CA journey. A student acquires a working knowledge of core and allied subjects related to Chartered Accountancy. This includes present-day knowledge of technology and skills required to undertake charted accounting.

The intermediate subject load is classified into two sections or groups. Post successfully clearing CA Foundation Exam, one can study well and attempt the CA Intermediate Exam either individually or together (subject groups). Only after clearing either or both groups of the Intermediate Course, one can and must join practical training.

CA Final

The last stage to become a CA, A student can register himself for the CA Final, once he cleared both the groups of CA Intermediate. If an individual fails to clear any of the subjects, he or she are required to give exams of the whole level all over again. Hence, choosing to pursue a CA course right after class 12 requires a lot of mental strength, tenacity and will power. The candidate should make the payment of Rs 22000/- (Indian Student) or 1100US$ (Foreign Student) to get himself enrol for the CA Final Course.

Some of the key subjects, concepts and topics covered in CA are as follows

  • Core accounting of a firm.
  • Designing an efficient financial system to combat its risk.
  • Acquiring skills to handle a major financial issue of a firm.
  • Knowledge to maintain financial balance and stability.
  • Preparing financial statements and management reports
  • Liaising with internal and external auditors
  • Carrying out taxation and auditing work
  • Advise for efficient tax planning
  • Annual reports preparation

What is CA Articleship

Students who opt CA course after 12th need to study a wide variety of topics with general subjects like mathematics, economics, general management, IT, statistics with specialization in law, cost accounting and others.

This is accompanied by working for a big company and also temporarily work for small sectors to resolve its financial statements or burden. They are hired for advice on cost control and financial investments. This has been termed as Articleship. It happens to be mandatory in order for the student to be certified as a CA.

CA Articleship requires proper coaching, guidance, the devotion of time, desire to excel, and effort for completing the course.

CA Course Duration after 12th

The minimum duration of CA Course for a person joining after Class 12th (i.e. through CPT Route) is 4.5 years.

The minimum duration of the Chartered Accountancy Course for a person joining after Graduation (i.e. through Direct Entry Scheme) is 3 years.

The council of the Institute of Chartered Accountants of India (ICAI) has decided to reduce the chartered accountant (CA) course to three-and-a-half years from the current five years and three months course. It has also decided to revamp the course structure. To be a Chartered Accountant, you have to clear 3 levels along with 3 years of Articleship.

The approximate cost for taking up a CA course comes to around 2 lakhs in India and tend to widely vary with place and university where it is pursued.

Most students opt for extra subjects which are in tandem with the CA line of study and work in order to have an extra edge over the competition. Some of these important options opted for have been listed below. This could have a minor to negligible impact on the CA course duration

Complementary CA or Post-CA Qualification Courses

  • Certified Public Accountants (CPA) good for the accounting field
  • NCFM course conducted by the National Stock Exchanges, Mumbai (NSE)
  • Certified Financial Planner (CFP) international certification program being conducted by the Financial Planning Standard Board (FPSB), India
  • Certified Internal Auditor (CIA-USA) Program conducted by the Institute of Internal Auditors – the USA
  • Chartered Financial Analyst (CFA) is regulated by ICFAI (Institute of Chartered Financial Analysts of India) University
  • Chartered Financial Analyst (CFA-USA) from ICFAI University, India.
  • Information Systems Audit (ISA)
  • CPE Course on Computer Accounting and Auditing Techniques (CAAT)
  • Diploma in Insurance and Risk Management (DIRM)
  • Management Accountancy Course (MAC) Corporate Management Course (CMC)/ Tax Management Course (TMC)
  • International Trade Laws & World Trade Organisation (ITL & WTO)

Top colleges for CA course

CA courses in India are being offered by some of the most reputed colleges. After a lot of research, the compiled list of top colleges is as follows

Northern India Regional Council of ICAI represents over 44,000 Chartered Accountants and 2,25,000 students spread across the Northern States of Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab and Union Territory of Chandigarh. It also happens to be a constituent body of the Institute of Chartered Accountants of India

Academy of Commerce - is a highly ranked academy in India for commerce studies especially Charted Accountancy

Nahata Professional Academy - is a nationally renowned institute leading in specialized training in CA and CS segments. 

Vidya Sagar Career Institute Ltd - VSI is the only institute in India which has given 3 times All India 1st Rank in CA IPCC in last 6 years which shows its quality and proper guidance. 

Chanakya Academy for Management and Professional Studies (CHAMPS) - is a premier national educational institute that offers an exemplary quality of education in Charted Accountancy.

Pearl CA College, Kochi is another swell institute specializing in CA coaching and education.

Institute of Chartered Accountants of India

ICAI is the national professional accounting body in India. Established on July 1st 1949 as a statutory body under the Chartered Accountants Act enacted by the parliament in order to regulate the profession of CA in India. It is solely responsible for setting the standards on Auditing (SAs) which is to be followed by practising Chartered Accountants and it has close tie upon with working with the Government of India, Reserve Bank of India and the Securities and Exchange Board of India.

ICAI was established under the Chartered Accountants Act, 1949 passed by the Parliament of India with the objective of regulating the profession in India and is the third-largest professional accounting body in the world in terms of membership only to the ACCA and AICPA. It examines various taxation laws, rules, regulations, circulars, notifications issued by the government from time to time and send suitable memoranda containing suggestions for improvements in the respective legislation.

Jobs and Career Prospects after CA

Today even though there are a lot of new specialized courses emerging in the field of IT with the advent of technology could not beat the scope for CA around the globe.

Today’s emerging courses act as ancillary to industry, but commerce remains the foundation with its importance being evergreen and untouched.

After a  CA  course one can start his or her career as an internal auditor or finance department team member for an organization. Salary package offered is good compared to that of an ICWA.

Following are the sectors where a CA can build his or her career:

  • Banks/Banking (Both private and public)
  • Public Limited Companies (Pvt Ltd)
  • Auditing Firms (such as KPMG, Price Waterhouse, etc.)
  • Finance - Companies, Mutual Funds, Portfolio Management Companies, Investment Houses, Stock Broking Firms.
  • Legal - Law firms and houses, Patent Firms, Attorneys, Trade Mark, and Copyright Registers.

Charted Accountant Salary

Salary of a Chartered Accountant in India depends on his/her skills, capabilities, and experience. Rank Holders and Single attempt passed students get a priority over the multiple attempts passed students. However, there are many candidates who start their own practice after taking job experience of 2-3 years in a reputed CA Firms. Chartered accountants (CAs) are offered an annual salary of Rs 692K which varies on a basis of average pay and with CAs with lots of years of experience get as high as Rs 926K according to survey report produced by Glassdoor review.

Chartered Accountant Salary
Job Designation Years of Experience Paygrade
Entry-level Chartered Accountant < 1 year INR 618,943
Early Career Accountant 1- 4 years INR 707,200
Mid-career Accountant 5- 9 years INR 1,119,501
Experienced Chartered Accountant 10 - 19 years INR 1,796,020

The source of information is from PayScale

In order to get a high salary package in Chartered Accountant to follow the steps below

  • Getting ranks in the CA exams can put you in the spotlight for high salary packages
  • Gain immense Knowledge in your field
  • Minimise the number of attempts to crack the exam
  • Attain good communication skills and personal training experience.

A CA has been one of the few evergreen courses sought after by students in India. There is always a doubt lingering in the minds of young 12th graders about their future and which job could suit them.CA is perfect to pursue as a course after 12th commerce.Infact many students take up commerce in 12th because of their passion for accountancy.

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KS Academy

CA is Dream of Every Commerce Student This is Reputed and Future Job in India. Here we are sharing with you a guide which will surely help you to become a successful Chartered Accountant. Qualification: Any student who has passed 10th class or any course equivalent to that can apply for the Common Proficiency Course (CPC) first. Post qualifying for the 10+2 exam, a student has to then qualify in CPT exam. After the CPT IPCC, successful article-ship or training under an officially practising C.A has to be done for 3 years. Then comes the CA Final. STEPS To Study CA CA Foundation CA Intermediate CA Final