How to become a CA: Chartered Accountant Course, Jobs, Salary

A practicing Chartered Accountant (CA) is a professional accountant who holds a Certificate of Practice (COP) issued by the Institute of Chartered Accountants of India (ICAI).

To earn a CA designation, candidates have to go through rigorous examination process that is administered by ICAI, the regulatory body for CAs in India.

A CA is a finance professional specilize in financial reporting, auditing, taxation and management accounting. The role of a CA is to ensure that the businesses comply with financial regulations, prepare and audit financial statements, advise clients on tax planning etc.

“A chartered accountant deals with the financial management and carries out the financial audits”.

In India, CAs play a key role in the corporate governance, as only CAs can audit company’s accounts under the Companies Act, 2013

If you have an interest in accounting and finance, and you love playing with numbers then pursuing a Chartered Accountant (CA) course can be great option for commerce students after 12th.

In this article, we will explore in detail about How to become a CA, eligibility criteria, career path, Job opportunities and salary.

How to Become a CA in India

The CA (Chartered Accountant) is one of the respectful, highly rewarding but a challenging career field.

The road to becoming a CA is not an easy one, as candidates have to go through years of focused preparation, rigorous examination process and extensive practical training.

The journey to becoming a CA takes roughly 4-5 years (depends on the individuals) and the fees and study material for the exams cost around ₹70 to 80 thousand, excluding coaching fees.

Below is the step by step guide on how to become a CA in India:

1. Complete a Qualifying Examination

To become a CA, candidate must have completed their class 12th or any equivalent examination.

2. Register for CA Foundation (4 to 6 months of Study)

After completing 12th, register for CA foundation which covers subjects like accounting, business laws, economics & Mathematics. Applicants must score at least 40% in each paper and 50% overall to pass.

If you are a B.Com graduate (having 55% marks), you can skip the CA foundation and directly appear for the CA intermediate.

3. CA Intermediate

After qualifying CA foundation or B.Com, enroll in CA Intermediate course which has two groups of subjects, covering advanced accounting, auditing, financial management and taxation.

Candidates need 8 months of study to qualify CA intermedate. The passing criteria is similar to CA foundation, i.e. at least 40% in each paper and 50% overall to pass.

In addition to this, candidates need to complete ICITSS (a 4-week training course on IT and soft skills) before or during this stage.

4. Articleship

Articleship is a 3-year practical training period that candidates must undergo under a practicing Chartered Accountant (CA) as part of the CA course.

Candidates who have passed atleast one group of CA intermedate are eligible for articleship. This gives a hands-on experience to the candidates in the areas like auditing, tax filin, and compliance.

5. CA Final

CA final is the last step of a CA program, it consist of two groups covering advanced topics like strategic financial management, international taxation, and corporate laws.

The pass criteria for CA final exams is 40% per paper and 50% overall. The CA final exams are considered toughest, with pass rates generally below 15%.

6. ICAI Membership

After clearing CA final exams, candidates can officially become a Chartered Accountant after applying for ICAI membership. The members of ICAI can use the prefix “CA” before their name.

After getting ICAI membership, candidates can join a firm, work in a company or practice independently as a CA.

CA Course Details

Chartered Accountancy was established in 1854 in Britain and is a core function of business and finance in an organization.

In India, the CA course is conducted by the ICAI (Indian Chartered Accountants Institute). A chartered accountant is the member of ICAI. The membership can be continued through the prescribed yearly fees payment.

A complete overview of Chartered Accountant course details is given below:

Skills Required

• Accounting and Business knowledge
• Numerical Ability
• Core subject knowledge
• Logical & Methodical Approach
• Good understanding of the socio-economic environment in which organizations operate
• Necessary skills in applying theoretical knowledge to practical situations
• Good Verbal & written expression
• Ability to deal with different types of people

Eligibility Criteria

To be eligible for Chartered Accountant (CA) course, candidates have to meet the following eligibility conditions:

• The students of commerce or science or arts background are eligible to pursue CA course.
• Candidates proficient in accounting or have good knowledge of computer software are eligible.
• Students should have the basic knowledge of the computer as well as all the accounts work.
• Candidates with bachelor’s in Commerce (with 55% marks) are eligible for direct entry in to the CA Intermediate program

Admission Process

How can i get admission in the CA program?

To enrol for a CA program, candidates have to qualify CA foundation, CA Intermediate and CA Final. The complete examination process is regulated by the Institute of Chartered Accountants of India (ICAI).

After the completion of 12^th standard, students can register for a CA foundation, which generally comprises of basic of accounting, business laws, business economics and business mathematics.

In CA foundation, Candidates have to score at least 40% in each paper and 50% overall to qualify for the next level.

Candidates with a bachelor degree in commerce or related discipline can directly enroll for a CA intermediate program.

Career & Jobs

Chartered accountancy offers wide range of career opportunities in both private as wel as in public sectors. CAs can work in corporate finance, auditing, cost accounting, banking, and consulting domains or start their own practice.

Fresher can start their career under a CA firm or look for job opportunities in any of the below companies:

• Accounting Firms
• Banking and Finance Companies
• Stock Market and Investment Firms
• PSUs and Government Organization

Candidates can start their career as an auditor, tax consultant, Financial advisor, Investment Banker or as an entrepreneur.

Also Check – Career in Auditing and Taxation

In 2024, approximately 31,946 candidates qualified as Chartered Accountants (CAs) in India. As the demand of CAs is very high across all sectors. Therefore, pursuing a career in Chartered accountancy is one of the great career choice for the commerce students.

The Institute of Chartered Accountants of India (ICAI) has set an ambitious target to increase the total number of CAs to 30 lakh (3 million) by 2047.

Top Recruiters

Chartered Accountants CAs are high in demand across various industries including Finance, Banking, Consulting, and Government organizations.

Some of the top recruiters for CA professionals include the following:

• KPMG
• EY
• PwC
• Deloitte
• Reliance Industries
• SBI
• HDFC Bank
• ICICI Bank
• BCG
• ONGC
• BHEL
• JP Morgan
• Infosys
• Morgan Stanley

Responsibilities of Chartered Accountant

• Operating Accounts
• Managing Tax
• Budgeting and Budgetary Control
• Dealing with Wages & Salaries
• Carrying out Internal Audits
• Forecasting
• Monitoring Expenditure
• Paying Accounts & Sending out Invoices

Salary

“Chartered Accountant is one of the highest paying Jobs in India.”

The salary of CAs in India varies with one’s experience, job role, company and industry. Freshers starting their career with a big 4 accounting firms could earn in the range ₹6 to 18 lakhs per annum.

The salaries in top MNCs, consulting firms and IT companies are among the highest. Professionals with 3-5 years of experience working in Banking & Finance companies can earn in the range ₹10 to 25 lakhs per annum

Top CAs running their own consultancy firms or working as a partner, CFOs/Director position make anywhere between ₹25 lakhs to 1 crore per annum.

Books & Study Material

• The Honest Accountant by Peter Milwain
• Fundamentals of Accounting for CA – CPT by P.C. Tulsian and Bharat Tulsian
• Auditing & Assurance by Surbhi Bansal
• Law Ethics and Communication by CA Munish Bhandari
• Cost Accounting and Financial Management by C.A.K Hariharan
• Advanced Auditing and Professional Ethics by CA Surbhi Bansal

If you have any other query about Career as a Chartered Accountant, you can ask your query below.