THE CHARTERED ACCOUNTANT The Chartered Accountants are entrusted with substantial responsibility under various legislations such as compulsory audit of the all companies, banks, stock brokers, big income-tax assesses, large bank borrowers, etc. This shows the confidence and trust reposed by the Government and society in the profession. The society has increasingly recognized the services of CAs in the entire gamut of management consultancy services including management accounting, management information and control system, international finance information technology and financial services sector. The types of functions generally performed by the Chartered Accountants are quite varied; some of the important ones amongst them are listed below: (i) Accountancy: The writing up of accounts and the preparation of Financial statements from the simplest receipts and payment Accounts of a small club to the complex and detail accounts of large public limited companies. (ii) Auditing: The purpose of auditing is to satisfy the users of financial Statements that the accounts presented to them are drawn up on Correct accounting principles and that they represent a true and fair view of the state of affairs. (iii) Taxation: The assessment of taxes is closely linked to financial Accounts. The Chartered Accountant with his experience in accounts is in an advantageous position to prepare the returns for tax purposes, represent assesses before the income tax authorities and render general advice on taxes to his clients. The services of CA may be requisitioned by the tax department for auditing taxation cases with large revenue potential. (iv) Cost Accountancy: A Chartered Accountant is equipped to provide information on costing for the guidance of management, introduce cost control methods and assist the management in determining appropriate selling prices. (v) Special Company Work: The services or advice of Chartered Accountants are frequently sought in connection with matters such as the formation, financial structure and liquidation of limited companies. (vi) Investigation: Chartered Accountants are often called upon to carry out investigation to ascertain the financial position of business house for the purpose of issue of new shares, purchase or sale or financing of business, finding out reasons for increase or decrease of profits, reconstruction and amalgamations. (vii) Executors and Trustees: A Chartered Accountant is also often appointed executor under a will or trust in order to carry on the administration of the estate or settlement. (viii) Directorship: Many members of the Institute who hold senior positions in industry and commerce are also directors of their companies. (ix) Companies Secretarial Work: As a Secretary, the Chartered Accountant is an important link in the management chain. (x) Management Accounting: The Chartered Accountant’s service is utilized in a variety of ways like formulation of policies, control and performance evaluation. (xi) Share Valuation Work: A Chartered Accountant undertakes the valuation of shares of public and private companies at the time of amalgamation or reorganization. (xii) Other Activities: Other duties undertaken by a Chartered Accountant includes those of an Arbitrator for settling disputes specially those connected with insolvency work such as the preparation of statements of affairs and the duties of a trustee in bankruptcy or under a deed of arrangement. To be good Chartered Accountant, you require not just business acumen and numerical ability, but good communication skills, objectivity, independence of thought and integrity coupled with the ability to work under the pressure of deadlines. A person who desires to be a Chartered Accountant has to be a member of the Institute of Chartered Accountant of India, Indraprastha Marg, New Delhi-110002. The Institute was established in 1949 under the Chartered Accountants Act, 1949 and is governed by a Council in accordance with the Chartered Accountants Regulations , 1988.
CA CPT ExamIntroduction Chartered Accountant Common Proficiency Test, which is also known as CA CPT Exam, is conducted by Institute of Chartered Accountants of India for admitting students to Chartered Accountancy course. The test is an entry level exam. The institute conducts Chartered Accountant Common Proficiency Test (CA CPT) four times a year, at various cities across India. Eligibility The aspirants can join the Chartered Accountancy course after clearing CA CPT Exam. Given below are the eligibility criteria for chartered accountancy. • The students must have passed 10+2 examination or its equivalent, from any recognized Board. • Candidates, who have passed B.Com, M.Com, LLB, ICWA, CS or MBA at the first attempt, are also eligible to apply. • The candidates, who have appeared or appearing in final year of the qualifying examination, are also eligible to apply. • The students, who have registered for CPT Course with Board of Studies of ICAI on or before October 1, 2009, are also eligible to appear in the entrance test. Examination Pattern The institute conducts Chartered Accountant Common Proficiency Test (CA CPT Exam) in two modes: Paper Pencil Mode of Examination and Online Registration Mode of Examination. The general examination pattern of CA CPT Exam is given in the following lines. • Paper Pencil Mode of Examination is conducted in morning session and evening session with each carrying two parts. • For Online Registration Mode of Examination, the students have to fill an examination form Online and then, this examination is held at various centers across India. • The entrance test consists of objective type questions. • The medium of all the questions and instructions is English. • The question paper follows negative marking scheme, which means one fourth mark is deducted for every wrong answer. Syllabus The syllabus for Chartered Accountant Common Proficiency Test (CA CPT) comprises of basic knowledge in fundamental of Accounting, mercantile law, general economics and quantitative aptitude. Topics in each subject are given below. Accounting Theoretical Framework, Bank Reconciliation Statement, Accounting Process, Introduction to Company Accounts, Partnership Accounts, Accounting for Special Transactions, Preparation of Final Accounts for Sole Proprietors, Depreciation accounting, Inventories. Mercantile Law The Indian Contract Act, 1872, the Sale of Goods Act, 1930 and the India Partnership Act, 1932. General Economics Economic Reforms in India, Select Aspects of Indian Economy, Indian Economy – A Profile, Price Determination in Different Markets, Theory of Production and Cost, Theory of Demand and Supply, Micro Economics. Quantitative Aptitude Sampling Theory, Theoretical Distributions, Probability and Expected Value by Mathematical Expectation, Correlation and Regression, Measures of Central Tendency and Dispersion, Statistical description of data, Basic concepts of Differential and Integral Calculus, Limits and Continuity - Intuitive Approach, Sets, Functions and Relations, Sequence and Series – Arithmetic and geometric progressions, Basic concepts of Permutations and Combinations, Simple and Compound Interest including annuity - Applications, Inequalities, Equations, Ratio and proportion, Indices, Logarithms. In order to inculcate new skills in CAs, the institute includes the newest methodologies in the course and the course of Chartered Accountancy is available at three levels. • Entry Level Test - Common Proficiency Test • First Stage of Theoretical Examination - Professional Competence Course • Final Stage of Theoretical Education - Final Course Common Proficiency Test (CPT) This test conducted by Institute of Chartered Accountants of India is meant for students who are already registered with the institute for the course fulfilling the eligibility criteria prescribed by the institute. It is a qualifying examination and any student who wishes to join ICAI for Chartered Accountancy (CA) programme requires being successful in this test. A student who has passed class 10th examination from any recognized board can register for Common Proficiency Test and a student can appear for CPT examination only after clearing his 10+2 examination. Professional Competence Course (PCC) The Professional Competency Course is the first stage of Chartered Accountancy programme and a student can take up this programme after passing CPT examination or after graduating from a recognized university. This programme gives theoretical knowledge as well as practical training simultaneously. For admission into PCC programme, a pass in 10+2 examination is necessary along with qualification in Common Proficiency Test (CPT). Final Course The final course being the vital part of Chartered Accountancy course requires the students to work in the office of a Chartered Accountant or in a Chartered Accountancy firm towards completion of CA Practical training. Students can also complete their training in business / industrial enterprises. There are two types of training facilities are available for students. • Articled Clerk • Audit Clerk Articled Training / Audit Training The purpose of Articled / Audit training programme is to inculcate the sense of professionalism in students. The training provides on the job work experience of professional nature. It imbibes a disciplined attitude for hard work and develops the necessary skills in applying theoretical knowledge to practical situations. Also, it provides exposure to overall socio-economic environment in which organizations operate and develops the ethical values. The period of training is 3.5 years and the practical training is mandatory for Articled training. Information Technology Training (IT Training) The training in Information Technology is imparted for 20 days and a student must devote 5 hours every day for the completion. The students are considered as on duty for 100 Hours of Information Technology training for which 3 hours examination is also held to check their understanding of the relevance of IT to CA course. Exams ICAI conduct exams in 3 stages.First exam is common proficiency test better known as CPT, next one is IPCC i.e. integrated professional competence course and third and last is C.A. Final exams. A student can register for CPT after 10th standard however he can appear in exam only after 12th standard.It is an entry level test. The test contains two sessions. In every session there are 2 exams. Session I: Section A: Fundamentals of accounting Section B: Mercantile Law Session II: Section C: General Economics Section D: Quantitative Aptitude Minimum passing marks are 50% overall.However it is proposed to be increased to a level of 60%. Students are allowed normal calculator in examination. They can't use scientific calculator. After passing CPT a student has to register himself for IPCC. A student can appear in IPCC only after 9months of passing CPT. The IPCC examination are held twice a year in the month of May and November. This is also divided in 2 groups. Group I: Paper1:Accounting Paper2:Law,Ethics and communication Paper3:Cost accounting and financial management Paper4:Taxation Group II: Paper5:Advanced Accounting Paper6:Auditing and Assurance Paper7:Information Technology and Strategic Management The level of knowledge is working knowledge. One can undergo for one or both groups. To clear exams minimum passing marks are total 50% in each group and 40% in each paper. Once a group is cleared you are not required to pass it again. After passing group1 one can also enroll for ATC certificate. This for one who don't wish to study ahead for any reason. They are awarded with Accountant Technician certificate which has its own scope. After clearing group I one has to register for practical training. It is given by a practicing C.A. For ATC one year practical training is required and for C.A. 3 years practical training is required. After completion of due training one can go for C.A. final exams.There is some provision also to give exams in last 6months of training. C.A. final exams contains following subjects. Group I: Paper1:Financial Reporting Paper2:Strategic Financial Management Paper3:Advanced Auditing and Professional Ethics Paper4:Corporate and Allied Law Group II: Paper5:Advanced Management Accounting Paper6:Information System control and Audit Paper7:Direct Tax Laws Paper8:Indirect Tax Laws The passing % is same as for IPCC i.e. aggregate of 50% in a single group and minimum 40% in each subject. After clearing both group of final exams one has to a 15 days special training on GMCS i.e. general management and communication skills. After this one can enroll as a member of the ICAI and can be called Chartered Accountant. DRAFT REGULATIONS 1. These regulations may be called the Chartered Accountants (Amendment) Regulations, 2005.<20XX 2. In the Chartered Accountants Regulations, 1988, - i. In regulation 25B, after sub-regulation (2) and before the explanation, the following proviso shall be inserted, namely: - "Provided that a candidate, who has exhausted his five consecutive attempts in the Professional Education (Examination - I), shall be eligible to be admitted to the said examination for an additional attempt in any of the examinations held on or before the 31st December, 2005." ii. In regulation 28B, after sub-regulation (3) and before the explanation, the following proviso shall be inserted, namely: - "Provided that a candidate, who has exhausted his five consecutive attempts in the Professional Education (Examination - II), sha ll be eligible to be admitted to the said examination for an additional attempt in any of the examinations held on or before the 31st December, 2005."
CoursesIn order to be a Chartered Accountant, one has to follow the courses of study , as below:- PROFESSIONAL EDUCATION COURSE One can enter the Chartered Accountancy course by joining Professional Education course. This course is available in two parts – i.e. (A) Professional Education (PE Course I) and (B) Professional Education (PE Course II) PE Course I is compulsory for students joining after 10+2 and Graduates with less than specified marks. Candidates who are graduates with more than specified marks or those who have passed the Final examination of the Institute of Cost and Works Accounts of India (I.C.W.A.I) or the Institute of Company Secretaries of India (I.C.S.I.) are exempted from PE Course – I. PE Course – II is compulsory for all irrespective of the fact whether one is coming through PE Course-I stream or is exempted from PE Course-I. The term graduate does, however, not cover a graduate in music, dancing, photography, paining and sculpture. (A) PROFESSIONAL EDUCATION ( COURSE –I) The minimum duration of the course is ten months The registration for Professional Education (Course- I ) is open throughout the year The eligibility/conditions for this course are as follow:- (a) Pass in Senior Secondary Examination (10+2) or equivalent recognized examination. (b) There is no restriction with regard to the age of the candidate or marks secured in Senior Secondary Examination or subjects studied. (c) Following graduates who have secured less than specified marks:- (i) Commerce graduates with Accountancy, Auditing and Mercantile Law or Commercial Law as full examination paper. For this purpose “full examination paper” means a paper carrying out less than 50 marks. (ii) Non-commerce graduates with Mathematics as one of the subjects and with less than 60% of the total marks. (iii) Non-commerce Graduates with subjects other than Mathematics and with less than 55% of the total marks. (d) Candidates who have appeared in 10+2 or its equivalent examination are eligible for “Provisional Registration” for Professional Education (Course – I). A student may register at any time during the year. The examinations are held twice a year in May and November. A student should get himself/herself registered at least ten months before the examinations. For May Examination he/she should, therefore, be registered before 30th June of the preceding year and for November Examination he/she should be registered before 31st December of the preceding year. The subjects of study for the Professional Education (Course-I) are: Fundamentals of Accounting, Mathematics and Statistics, Economics, Business Communication and Organization and Management. Students of PE-I Course are covered under Postal Test Scheme. The comprehensive study papers and test papers booklets are, therefore, made available to students for study. Students have to submit answers to the specified number of test papers and obtain the minimum qualifying marks. Students who attend classes which are organized by Accredited Institutions and satisfy the relevant requirements, are exempted from answering the test papers. PROFESSIONAL EDUCATION ( EXAMINATION –I ) For passing this examination a student needs :- i) to obtain at one sitting a minimum of 40% marks in each paper. ii) a minimum of 50% of the total marks of all the papers. iii) to pass this examination within five consecutive attempts. B) PROFESSIONAL EDUCATION ( COURSE –II) The minimum duration of this course is ten months. After completing the Professional Education (Course-I), a candidate has to join Professional Education Course –II. The eligibility requirements for admission to this course are as follows: a) A pass in the Professional Education (Examination-I). b) A pass in the Chartered Accountant Foundation Examination CA Regulations, 1988. c) Graduates with the following conditions are also eligible:- i) Commerce graduates with Accountancy, Auditing and Mercantile Law or Commercial law as full papers and with a minimum 50% marks of the total marks (Full paper means a paper carrying not less than 50 marks). ii) Non-commerce graduates with Mathematics as one of the subjects and with minimum 60% of the total marks. iii) Non-commerce graduates with subjects other than Mathematics and with minimum 55% of the total marks. iv) Candidates who have passed the Final Examination of the Institute of Cost & Works Accountants of India ( ICWAI ) or the Institute of Company Secretaries of India (ICSI ). Candidates who have appeared in the above mentioned examinations are also eligible for “Provisional Registration” for this course. PROFESSIONAL EDUCATION (EXAMINATION –II) For passing this examination a student i) Can appear either in both groups simultaneously or one group in one examination and in the other group at any subsequent examination but he has to pass both the groups. ii) Securing at one attempt a minimum of 40% in each paper of the group and 50% in the aggregate of all the papers of that group will be declared to have passed in one group. iii) Similarly declared to have passed in both groups simultaneously if he secures at one sitting, a minimum 40% marks in each paper of each of the group and an aggregate of 50% of all the papers of each of the groups or 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.
ACCREDITATION: There is a scheme of accreditation of colleges affiliated to recognized Universities and Schools affiliated to CBSE or other equivalent State Boards. Several Colleges, Schools and other institutions in different parts of the country have been accredited. Under this Scheme, such institutions organize classes for the benefit of Professional Education (Courses I & II) students. Students attending such classes are exempted from answering test papers under the postal tuition Scheme but (i) they have to satisfy the requirements of minimum attendance of 75% of the classes in each subject and (ii) secure a minimum of 45% marks in each subject in the final test conducted by such institutions. Medium of Examination: Students are allowed to opt for Hindi Medium for answering question papers. The option is available for all the papers of the examination. Paper-wise option is not allowed. Registration for Professional Education Course: Students of the Professional Education (Course-I) and (Course-II) have to forward their applications in the prescribed form along with the prescribed fee through Demand Draft drawn in favour of The Secretary, Institute of Chartered Accountants of India payable at New Delhi, Mumbai, Kolkata, Chennai, Kanpur as the case may be. The different offices of the Institute are located in different regions as shown in Annexure-I. Computer Training: Students are required to attend and successfully complete at least 250 hours of Computer training prior to the commencement of practical training of three years. One can undergo such a training along with his Professional Education (Course-I) and/or (Course-II). Registration of Articled Clerk The Articled Clerk is a trainee attached to a practicing Chartered Accountant. After passing the Professional Education (Examination-II) one can register as an ‘Articled Clerk’ for practical training and for admission to the Final Course of the Chartered Accountancy. Eligibility for Articled Clerk: A candidate is eligible for admission to articleship if - he is not less than 18 years of age on the date of commencement of articleship. - he has passed the Professional Education Examination –II and - has successfully completed the computer training programmes as prescribed in the earlier paragraph. A candidate who has passed the Foundation Examination (as per the old scheme) is also eligible for registration as an Articled Clerk till 31st December, 2003. Such candidates are required to pass Professional Education –II) during the practical training and are entitled to appear in the Final Examination during last six months of practical training. An Articled Clerk who has completed the practical training and passed the Final Examination is also required to attend a Programme on General Management and Communication Skills. Final Examination: The subjects for study in the Final CA course are as follows: Group-I Advanced Accounting, Management Accounting and Financial Analysis, Advanced Auditing, Corporate Laws and Secretarial Practice Group -II Cost Management, Management Information and Control Systems, Direct Taxes, Indirect Taxes Practical Training: Practical training provides an opportunity to students to acquire on the job work experience of a professional nature. He learns the skill of profession while working with a practicing Chartered Accountant and also works as a Industrial trainee for about one year in an approved industrial establishment during the last year of practical training. Students of Final Chartered Accountancy course are eligible for industrial training. Stipend: An Articled Clerk is entitled to receive monthly stipend as per the rates specified from time to time. Minimum rate of monthly stipend depends on the place of services of the articled clerks. The rate details of the current year i.e. 2002, are as under: TAB LE Sl. No. Place specifications Rate/Period 1st year 2nd year 3rd year 1 Cities/Towns having population of less than 3 lakhs 200 300 450 2 Cities/Towns having population of 3 lakhs and above but less than 20 lakhs 300 450 600 3. Cities/Towns having population of 20 lakhs and above 450 600 800 After passing the intermediate or the Professional Education (Examination-II) an Articled Clerk also get additional stipend of Rs.300 during the articleship. Membership: After qualifying the Final Examination of Chartered Accountants, one becomes eligible for admission as a member of the Institute. Such a person is, thereafter, recognized as “Associate Member” of the Institute. A person who is an Associate Member and is in continuous practice for minimum five years and possesses the experience prescribed is entitled for “Fellow Membership”. A member desirous of practicing as a Chartered Accountant is required to obtain a Certificate of Practice from the Institute. Job Opportunities: Campus interviews for freshly qualified Chartered Accountants are organized by the Institute at various Centres viz. Bangalore, Kolkata, Chennai, Kanpur, Mumbai and New Delhi. The scheme has been evolved to provide an opportunity to employing organisations as wello as yuoung professional aspirants to interact and explore the possibility of taking up positions in industry. Chartered Accountants have various options for pursuing rewarding career. Some of the available options are:- * Set up independent professional practice. * Join a practicing firm of Chartered Accountants. * Render services in the field of capital market. * Engage in your own industrial/business venture. * Take up a suitable position in business or industry. The choice depends largely on your personal inclination. First four choices indicated above offer good opportunity for development as a useful member of the professional and the society, ensuring amongst others, economic reward and scope for self-fulfilment. Starting one’s own industrial or business venture is also now becoming popular among Chartered Accountants. The Institute currently has about 1,00,000 members, 70%of whom are in public practice and remaining are engaged in trade and industry. Chartered Accountants are appointed Trustees and Executors, under a Will or Trust, to carry on the administration of an estate or settlement in collaboration with solicitors or lawyers. They act as administrators and receivers custodians and arbitrators on accounts and financial matters. Many in due course have risen to occupy managerial and senior executive posts of responsibility, like Chief Accountant, Financial Advisor, Internal Auditor, General Manager, Company Director etc. Nevertheless most Chartered Accountants concerns are normally advertised. Most employers also notify junior-level vacancies to Employment Exchanges. Better paid Government posts are filled through the Union and State Public Service Commissions. Chartered Accountant (CA) Career Offers : With the introduction of CPT, now after completing Class XII, it only takes four Years to become a Charted Accountant. The profession offers cent present job assurance. Though around 10,000 CA professionals graduate every Year, the demand and supply gap still exists. According to an estimate, India would need 50,000 CA by the end of 2010. Eligibility for Chartered Accountant CA India : Charted Accountant (CA) course is one of the most economical professional course available in India. The course is open to all. There is no cut - off mark or minimum mark. Anybody who has passed 10+2 from a recognized institute can register for the course. However students with a background in mathematics in Class XII will be at an advantage. Career in Charted Accountant Requirements for becoming a Chartered Accountant Under the existing chartered accountancy scheme of education, training and examination, the requirements for becoming a chartered accountant are as follows: (i) Enrol with the Institute for Common Proficiency Test (CPT) after passing class 10th examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto. (ii) Appear in CPT after appearing in the senior secondary examination (10+2 examination) conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto and after completion of specified period (60 days) from the date of registration for CPT with the Board of Studies as on the first day of the month in which examination is to be held, viz., students registered on or before 1st April/1st October will be eligible to appear in June/December examination, as the case may be. However, candidate should pass both CPT and 10+2 before registering for Integrated Professional Competence Course (IPCC). (iii) Enrol for Group I or Group II or for both Group I and Group II of Integrated Professional Competence Course (IPCC) to become “Chartered Accountant”. (iv) Successfully complete 9 months of study course from the date of IPCC registration. (v) Successfully complete Orientation Course of one week spanning 35 hours and covering topics, such as personality development, communication skills, office procedure, business environment, general commercial knowledge, etc., before commencement of articled training. (vi) Successfully complete 100 hours Information Technology Training (ITT) before commencement of articled training. (vii) Appear and pass Group I as well as Group II of Integrated Professional Competence Examination (IPCE). Group I is composed of four papers and Group II is composed of three papers. (viii) Register as Articled Assistant for a period of 3 years, on passing either Group I or both the Groups of IPCE. (ix) Register for CA Final Course and prepare for CA Final Examination. (x) Undergo General Management and Communication Skills (GMCS) (15 days) course while undergoing Final Course and serving the last 12 months of articled training. (xi) Complete 3 years period of articled training. (xii) Appear in the Final Examination on completion of the practical training or while serving last 6 months of articled training on or before the last day of the month preceding the month in which the examination is to be held. (xiii) Pass final examination and complete GMCS, if not completed earlier. (xiv) Enrol as a member of ICAI and designate as “Chartered Accountant”. How to become an Accounting Technician (i) Enrol with the Institute for Common Proficiency Test (CPT) after passing class 10th examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto. (ii) Appear in CPT after appearing in the senior secondary examination (10+2 examination) conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto and after completion of specified period (60 days) from the date of registration for CPT with the Board of Studies as on the first day of the month in which examination is to be held, viz., students registered on or before 1st April/1st October will be eligible to appear in June/December examination, as the case may be. However, candidate should pass both CPT and 10+2 before registering for Accounting Technician Course (ATC). (iii) Enrol for ATC. (iv) Successfully complete 9 months of study course from the date of ATC registration. (v) Successfully complete Orientation Course of one week spanning 35 hours and covering topics, such as personality development, communication skills, office procedure, business environment, general commercial knowledge, etc. (vi) Successfully complete 100 hours Information Technology Training (ITT). (vii) Appear and pass Accounting Technician Examination (ATE) (i.e. Group I of Integrated Professional Competence Examination (IPCE)) comprising of four papers. (viii) Successfully complete one year work experience under a chartered accountant in practice or in industry. (ix) Get Accounting Technician Certificate. (x) Designate as “Accounting Technician”. Best universities, institutions and colleges – Listed below are the best institutes in India for pursuing a course in chartered accountancy: • Ahmednagar Jilha Maratha Vidya Prasarak Samaj’s New Arts, Commerce & Science College located in Buldana, Maharashtra • Aurora’s Degree College located in Hyderabad • Aggarwal P G College located in Faridabad • B N Saha D A V Public School located in Jharkhand • Asansol Branch of Eastern India Regional Council of ICAI located in Kolkata • Agra Branch of Eastern India Regional Council of ICAI located in Uttar Pradesh • Coimbatore Branch of Eastern India Regional Council of ICAI located in Tamil Nadu • Biyani Commerce College located in Jaipur • Bharatiya Vidya Bhavan’s Vivekananda College of Science, Humanities and Commerce located in Secunderabad • B H S First Grade College located in Karnataka • Badruka Institute of Professional Studies located in Hyderabad How to prepare – Chartered Accountancy aspirants enroll in private tuitions offered in the leading Indian metros. Today, a student can also purchase recorded lectures in DVDs or books composed by professional chartered accountants to get preparation tips for the entrance examination. What are the prospects / future – A qualified chartered accountant has a bright career ahead of him. He can have a professional practice of his own.The various professions that a chartered accountant can be a part of are: • Cost Accountancy • Taxation • Auditing • Management Accounting • Share Valuation • Company Secretarial jobs
How to become a Charted Accountant CA :• Enroll with ICAI for Common Proficiency Test. Any student who has passed Class X can enroll for CPT. • Appear CPT examination after clearing 10+2. • Join PCC (Professional Competence Course). • Articled training and register for a 100 - HR Information Technology Training (ITT) after passing CPT and 10+2 examination . • Undergo a 100 - HR Information Technology Training (ITT) on completion of three months of articled training • Appear in Professional Competence Examination (PCE), • After passing PCE register for Final course with the Board of Studies and complete articled training of 3½ Years. • Appear in final examination • Enroll ICAI for membership
Institute of Chartered Accountants of India (ICAI)In India Chartered Accountant course is being provided by the Institute of Chartered Accountant of India (an statutory body setup under an act of parliament) It is also popularly known as ICAI. ICAI has all the authority to conduct Chartered Accountant exams. The Institute of Chartered Accountants of India was established in 1949 as an Apex Body to regularize the profession of Chartered Accountancy in India. It promotes education, professional development, and maintenance of high accounting, auditing and ethical standards. With the Headquarters located in New Delhi, the Institute has 5 Regional Centers at Chennai, Kanpur, Kolkata, New Delhi and Mumbai with 98 branches all over the country and 11 chapters in overseas. It has more than 115,000 members and 250,000 students to its credit and 70% of the total members in practice. The ICAI council consists of 30 members out of which 24 members are elected and 6 are nominated by the Central Government to represent the Comptroller and Auditor General of India, Central Board of Direct Taxes, Department of Company Affairs and other stakeholders. The Council functions through three Standing Committees and 16 Non Standing Committees for carrying out the provisions of the Chartered Accountancy Act. The organizations like the Central Direct Tax Advisory Committee of Government of India (GOI), the Reserve Bank of India Sub-Committee (Audit) of the Board for Financial Supervision, the SEBI Primary Market Advisory Committee, the SEBI Committee on Substantial Acquisition of Shares & Takeover Regulations, the RBI's Informal Advisory Group on NBFC's, the RBI's Group for Evaluating Internal Audit System in Banks and many other recruit ICAI nominees and avail their services. The Institute prescribes qualification for membership, conducts examination and makes the arrangement for practical training of candidates, helps in publication and maintenance of register of members qualified to practice the profession, carries out the activities for the development of the chartered accountancy as a profession and regulates and maintains the status of standard and standard of professional qualification of the members. The institute also offers postal coaching, oral training and arranges for practical training of the candidates all over the country. The monthly journal, “The Chartered Accountant” is published by the institute. The ICAI also issues the Auditing & Assurance Standards (AAS) which encodes the audit practices followed by the members of the institute whenever audit is carried out by the institute member. There are 30 AAS issued by ICAI till date to meet the International standard. The institute provides the technical advice to the following authorities. • Comptroller and Auditor General of India • Department of Company Affairs • Reserve Bank of India • The Securities and Exchange Board of India • Central Board of Direct Taxes • Insurance Regulatory Authorities • Insurance Regulatory Authorities ...............................................................................
THE LIST OF REGIONAL OFFICES OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA Sl. No. Address Region
1 The Joint Secretary, The Institute of Chartered Accountants of India,P.O.Box 7100, Indraprastha Marg,New Delhi 110 002. Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab, Delhi and Union Territory of Chandigarh.
2. The Joint Director of Studies, Western India Regional Council, The Institute of Chartered Accountants of India, Anveshak-27 cuffe Parade, Colaba, Mumbai-400 005. Gujarat, Maharashtra, Goa and the Union Territories of Daman & Diu and Dadar & Nagar Haveli.
3. The Deputy Secretary, Southern India Regional Council, The Institute of Chartered Accountants of India, 122 M.G. Road, Post Box No.-3314, Nungambakkam, Chennai – 600 034. Andhra Pradesh, Kerala, Karnataka, Tamil Nadu and the Union Territories of Pondicherry and Lakshadweep Islands.
4. The Deputy Secretary, Eastern India Regional Council, The Institute of Chartered Accountants of India,7, Russel Street,Kolkata-700 001. Assam, Meghalaya, Nagaland, Orissa,West Bengal. Manipur, Tripura, Sikkim, Arunachal Pradesh, Mizoram and Union Territory of Andaman-Nicobar Islands.
5. The Assistant Secretary, Central Indian Regional Council, The Institute of Chartered Accountants of India, Post Box No.-314, 26/77-B, Kanpur Civil Lines, Kanpur-208001. Uttar Pradesh, Bihar, Madhya Pradesh, Rajasthan Uttranchal & Jharkhand