Chartered Acountant (CA)
Chartered Accountant is an internationally recognized professional designation. A person with this designation specializes in the fields of audit, taxation and mainly accounting. Many a times CA acts as a management and corporate caretaker. The CA profession has risen in importance in the industry. MNCs, small-scale companies and businesses mostly compulsorily require a Chartered Accountant to manage the company’s money matters. In India, a candidate qualifies as a Chartered Accountant on successful completion of the three-level course set by the Institute of Chartered Accountants of India (ICAI), which also conducts CA exams and certifies the students. Wisdom Academy offers the Best CA Classes in Mumbai as well as Home Tuitions for the same.
The three levels of the CA Course are:
Basic Eligiblity Criteria
A student applying for CA should have passed his/her Higher Secondary examination i.e. (10+2) or any other equivalent examination. Even a Commerce background graduate with Auditing, Commercial Law, Accountancy are known as eligible for pursuing this program. CA passed candidates specialize in Auditing, Cost Accountancy, Accountancy, Taxation.
CA Foundation
Note
- Passing percentage: Aggregate- 50% and Subject-wise- 40% at one sitting.
- Examination: In the month of June and December after passing Class XII
- After Ca Foundation., the student has to appear for CA Inter Exam along with 100 hours of Computer Training with Recognized Institutions.
- Only after CA Inter Group – I is cleared, 3 years article ship can be started.
- After CA Inter is cleared, 2 years Articleship can be started
- After clearing CA Inter both group and completing 2 years of Arricle ship , the student should appear for CA Final exam
CA Intermediate
Group 1
Group 2
Four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS):
- Duration: 4 weeks (2 weeks for soft skills and 2 weeks for IT)
- When to complete: Students registering for the Intermediate course shall be required to do ICITSS before the commencement of practical training.
- Assessment Test: An assessment test shall be conducted at the end of the course which the students have to qualify for being able to appear in the Intermediate examination.
Practical Training:
- Duration of Practical Training: Three Years
- Commences after completing Integrated Course on Information Technology and Soft Skills (ICITSS) and passing either or Both Groups of Intermediate.
- For direct entrants coming through Graduation and Post-Graduation route, the practical training commences immediately after they complete four weeks ICITSS.
Advance Four Weeks Integrated Course on Information Technology and Soft Skills (AICITSS):
- Duration: 4 weeks (2 weeks for soft skills and 2 weeks for Advance IT)
- When to complete: Students undergoing Practical training shall be required to do AICITSS during the last 2 years of Practical training but to complete the same before appearing in the Final Examination.
- Assessment Test: An assessment test shall be conducted at the end of the course which the students have to qualify for being eligible to appear in the Final Examination.
CA Final
After passing the IPCC Exams, the student should register with the ICAI, for the Final Course. He should register for Articleship Training and prepare for the Final Exam. He is eligible to appear in the Final Exam, if he has completed the articleship training or is serving the last 6 months of his articleship training on or before the last day of the month preceding the month in which the Final Exam is held.
Syllabus:
Group 2
Wisdom Academy provides the Best CA Classes in Mumbai for CA Foundation, CA Intermediate and CA Final by expert faculties in Andheri and in Borivali. We also provide Home Tuitions for CA by expert faculties.
What are career opportunities after completing CA?
Chartered Accountancy is a course that leads to a plethora of job prospects. This course's possibilities are nearly endless, and they may be adjusted as per your interests, working standards, and earning potential. A Chartered Accountant must either establish their own practise or work for an enterprise or a corporation. Due to their professional knowledge in several sectors, a CA can be appointed to a variety of job profiles ranging from auditing and taxes to investing and finance. After joining the Best CA Coaching in Mumbai, the last step is the announcement of the CA Final results, and those studying for the course have questions on the minds and they start to wonder what the next thing to do is. Read on to know the career one can pursue after becoming a Chartered Accountant. Opting for the Best CA institute in Mumbai will help CA students in their future endeavours.
- Direct and Indirect Taxation: In some industries, CAs are referred to as Taxation Experts. Many Chartered Accountants begin their careers in either direct taxes such as Income Tax or indirect taxes such as GST or other legislations. With the introduction of new tax laws in India, the role of a Chartered Accountant in this sector is expanding.
- Internal Audit: The Auditing sector always has a high need for CAs, and this is also the field where a CA obtains the most substantial pay raises. In this job profile, however, the work pressure is rather significant. After finishing the CA Inter, one can work for a corporation as an Internal Auditor.
- Financial Management: An increasing number of businesses are searching for Qualified Chartered Accountants to handle their financial affairs in order to benefit from a CA's comprehensive knowledge of the financial industry. This job description is highly valued and demands a diverse set of technical skills. Stay up to date with market trends, understand the most profitable investments, predict the company's business, and then advise the organisation on these forecasts and investments.
- Banking and Insurance: Banking accounts must be handled by someone who is aware with banking rules and their compliance with them, as well as other industry standards. They should be capable of engaging in the financial affairs of the bank and working on financial strategy, funding, and other relevant responsibilities.
- Teaching: Teaching is a highly regarded profession with strong ethical requirements. It not only gives you money, but it also gives you a good reputation. CAs, CA tutorials in Mumbai, certain post-graduate universities, and the Indian Chamber of Commerce and Industry all have teaching opportunities available. Additionally, this does not have to be a full-time position. You can give the Best CA coaching in Mumbai while doing your other job.
How long it takes to complete CA?
The overall length of the CA course after the 12th might be anticipated to be 4.5 years. The sole requirement is that you complete all of its levels on your first try. Because each effort extends your time in this procedure by six months. CA Tutorials in Mumbai specifically cater to these requirements.
- Foundation Level: The CA Foundation is the first step to becoming a Chartered Accountant. After getting your admission card for the 12th board examinations, you can register with the Institute of Chartered Accountants of India (ICAI) and become qualified to take tests. CA Foundation is the foundation course for the Chartered Accountancy programme and many students join the Best CA Coaching in Mumbai. CA Foundation examinations are administered twice a year, in May and November.
- Intermediate Level: After passing their 12th std exam and the Foundation, CA aspirants can enrol in the Intermediate course. Eight months before the first day of the month in which the tests are held, one must register for the Intermediate examination. Following the Intermediate examinations, the applicant must complete four weeks of Integrated Course on Information Technology and Soft Skills (ICITSS) training, which can be done after taking any of the two subject groups, the guidance for which is provided by the Best CA coaching classes in Mumbai. The ICITSS consists of information technology courses and an orientation course that must be completed before beginning their articleship.
- CA Final and Articleship: This is the last phase, which includes both practical experience and theoretical tests. Candidates who have passed any of the two intermediate groups are eligible to apply for articleship and begin their practical training. You begin receiving a stipend while undertaking 3 years of obligatory training or Articleship under a registered CA and can register for the Final level in the last 6 months of Articleship training by filling out the CA Final test form online. The student must complete four weeks of advanced integrated information technology and soft skills training (AICITSS). AICITSS is a programme on Advanced Information Technology and Management Communication Skills that is completed during the final two years of articleship but before the Final Examination. After completing the AICITSS, you may sit for your final examinations after finishing your Articleship, during the last six months of your articleship training, or before the last day of the month preceding the month in which the test is to be taken. After getting the Best CA coaching in Mumbai, completing your three-year obligatory articleship and passing your final CA examinations, you can become a member of the ICAI and be recognised as a Chartered Accountant.
How difficult is the CA course?
Many people dream of becoming accountants. People desire to be chartered accountants for a variety of reasons, including the numerous benefits the profession provides. It is natural for novices to be confused by the format of the CA test and what the course entails. The exam is not difficult. It is open to students who have finished the 12th grade, graduates, and professionals. The curriculum and examination are designed in such a way that even students can pass them. However, CA Coaching in Mumbai can help you pass one of the most difficult examinations in India. CA courses need planning, hard work, dedication, and the ideal batch size for learning. Above all, you will need a suitable approach to deal with the chapters and tests. You will benefit from studying at the Best CA Coaching Institute. You must determine what will assist you in attaining the finest results . Joining the Best CA institute in Mumbai will help you with your CA coaching in Mumbai for all levels listed below:
- CA Foundation If you want to become a chartered accountant after finishing your 12th, you have 5 months to study for the entry-level test. Meanwhile, you may strengthen your comprehension of the fundamentals by enrolling in the Best CA coaching in Mumbai. The entry-level test covers the majority of the topics you would have studied if you were in the commerce stream . The questions in the papers are both objective and subjective. You must take four papers before enrolling in CA Foundation programmes in Mumbai.
- CA Intermediate After passing the foundation test, you will need to prepare for the CA intermediate level for which you will have 9 months to complete. The intermediate level coursework is very extensive, but with the right techniques, you will flourish in the CA intermediate test. To pass this level, the Best CA coaching in Mumbai assists in preparation under the supervision of the best CA faculties.
- Articleship Training After completing at least one of the two sets of CA intermediate, CA course applicants can begin their articleship training. Those who have passed both sets of CA intermediate must undergo 4 weeks of ICITSS instruction. It will save you time. Candidates who have appeared in one group should begin preparing for the next by getting the best CA coaching in Mumbai.
- CA Final You may now enrol for the CA final test after completing both sets of CA intermediate. However, in order to take the test, the candidate must first pass the Advanced Integrated Course in Information Technology and Soft Skills (AICITSS). Remember, this is the final and most difficult phase in your CA journey which can be eased when you enrol in the best CA tutorials in Mumbai.
Which among CA and CS has a better scope?
With the growth of the Indian economy, the opportunities for CA professionals are expanding. Chartered Accountants either work for themselves or in the accounting and finance departments of large corporations and enterprises. A plethora of students enrol in the Best CA Coaching Institute in Mumbai in order to pursue careers in different sectors in the city. The advancement of the economy is creating new challenges for CAs to improve their knowledge and abilities in certain domains of work. Despite the fact that both CA and CS are incredibly challenging and desirable courses , there are some notable differences between their scopes. Some of them are as follows:
- Mastery: The two most important distinguishing aspects between the two professions are quantitative and qualitative skills. A CA's job requires quantitative skills, whereas a CS's job requires a more qualitative approach. A CA's analytical abilities should be top-notch, and he should be at the pinnacle of his expertise while dealing with data and under pressure. CA must be precise in all numbers, and there is no tolerance for mistakes. CS, on the other hand, should be extremely knowledgeable in both law and management. A CS must have strong communication skills since she or he will be advising the company's board of directors.
- Focus: The main course of study for a CA is primarily accounting. Though some subsequent modules include a variety of topics in order to make the course more comprehensive. In a nutshell, the focus is quantitative in the CA course. The focus of the CS course, on the other hand, is on corporate legislation. The CS course is designed to improve communication skills. HR management is even covered in the last module. To summarise, CA is more selective since it encompasses a variety of disciplines, however, CS is more global because ICSI (Institute of Company Secretaries of India) recognises the importance of soft skills in addition to technical talents.
