How to become a Chartered Accountant after 12th | Easy Way
Careers after 12th grade are one of the most important decisions a student makes in his or her life. A student from a business background is more likely to pursue CA and CS courses. Examine the distinction, eligibility, and other details.
Career choices after the 12th grade are among the most important ones to make in one's life. After high school, there are numerous career options available, including engineering, medicine, and management. CA and CS courses are available to students with a business background.
Chartered Accountant, CA, and Company Secretary, CS are two popular post-secondary career options for commerce students. ICWAI, B Com Honours, Taxation & Accounting Honours, Banking and Finance Honours, BBA, and BMS are some of the other popular courses.
Despite the differences in the job profiles, most people get CA and CS mixed up. As one of the most sought-after professional careers after high school, it is critical to understand the distinction between the two.
Chartered Accountant (CA): A CA is a professional who analyses risk management, maintains accounts, and provides financial advice to businesses in the future. The Institute of Chartered Accountants of India (ICAI) accredits Chartered Accountancy.
CS (Company Secretary): A Company Secretary is in charge of completing the company's tax returns, preparing MOM for advisory board meetings, and ensuring compliance with all legal and statutory regulations. The Institute of Company Secretaries of India (ICSI) offers professional training for company secretaries.
In order to pursue a CA course after 12th, you must first complete the four stages outlined below:
- CA-CPT ( ENTRANCE EXAM FOR CA)
- IPCC-CA (CA INTER)
- CA-ARTICLESHIP ( TRAINING PERIOD)
The CPT exam will be given twice a year, in June and December. The deadline for submitting the CPT exam form is in April for the June attempt and October for the December attempt.
After passing the CPT exam, he or she should register for the CA-IPCC exams, which are held twice a year, in May and November.
CA-Articleship under a qualified chartered accountant for three years is the next step after CA-Ipcc.
The following are the requirements for participating in an articleship:
He/she must be qualified in at least Group -1 of the IPCC and must have completed ITT (Information Technology Training) and OP (Orientation Program) before beginning an articleship.
After completing 2 1/2 years of CA-articles, you will be eligible to take the CA-final exam.
What is a Chartered Accountant?
A Chartered Accountant is a person who applies for membership by passing all three levels of ICAI examinations and completing three years of practical training, or by taking advantage of exemptions under mutual recognition agreements (MRAs). The profession of Chartered Accountant is very popular among young people. Because of the job profile's growth, stability, and sophistication, its popularity is well-known.
Chartered Accountants work in a wide variety of business companies and sectors, as well as in a wide range of roles, from Chief Executives to Financial Controllers. Listed below are a few examples of the types of positions held by Chartered Accountants.
1. Tax Accountant: A tax accountant plays an important role in the operation of a business by assisting in the preparation of corporate and personal income tax statements as well as the formulation of tax, ranging from day-to-day VAT to share schemes. Large corporations are looking for Chartered Accountants with accounting skills and a legal background in tax. While tax issues differ by industry.
2. Management Accountants: Management accountants play a significant role in cost analysis, contract analysis, and participation in efforts to control expenses efficiently. He is involved in capital budgeting and line of business analysis decisions in businesses. His work is an examination of organisational structure. and examine how much money was spent in a company at the appropriate level of our organisation.
3. Financial Accountants: Financial accountants prepare financial statements based on general ledgers and participate in key financial decisions such as mergers and acquisitions, benefit planning, and long-term financial projections. This type of work can be very varied; one day you might be running spreadsheets, the next you might be visiting a customer or supplier to set up a new account and discuss business. This position necessitates a solid understanding of both accounting and finance.
4. Budget Analysts: Budget analysts are in charge of developing and managing a company's financial plans. There are numerous job opportunities in this field in both the government and private sector. Aside from quantitative skills, many budget analyst positions necessitate exceptional people skills due to the nature of the work.
5. Auditor: An auditor examines accounting ledgers and financial statements in corporations and government, and is the foundation of much accounting practise. Auditing work is becoming increasingly computerised, and sophisticated random sampling methods can be used. This field may require extensive travel and allows you to work in a variety of industries to gain a thorough understanding of how money is made and managed.
The following qualifications are required to become a Chartered Accountant:
1. A candidate is eligible for admission to the Accounting Technician Course (ATC) after passing the Common Proficiency Test and Senior Secondary Examination (10+2 examination) administered by an examining body established by law in India or an examination recognised by the Central Government as equivalent.
2. A candidate who has already passed the Entrance Examination, Foundation Examination, or Professional Education (Examination-I) will be eligible for enrolment in the Accounting Technician Course if the relevant conditions are met.
3. A candidate who was previously registered for the Intermediate/Professional Education (Course-II)/Intermediate (Professional Competence) Course will be eligible for enrolment in the Accounting Technician Course if the relevant conditions are met. Students who have registered for the Intermediate (IPC) course without the option of ATC may later enrol in the Accounting Technician Course.
So, should you go ahead and do it?
The course is spread out over a minimum of five years and thus necessitates a significant time investment. Only dedication and hard work will ensure a fruitful outcome over the next five years.
And, yes, all of the effort has been well worth it. Your professional life is guaranteed to be successful the moment you become a CA.
The vast world opens up to you with innumerable opportunities from various sectors such as Banking, Accounting, Taxation, Audit, Management Consultancy, Cost Accounting, and so on.
Because the Indian Chartered Accountant is regarded as a force to be reckoned with around the world, global opportunities abound.
Yes, you should go ahead and do it. It is not an easy path, but neither is it worth pursuing.
Institutes that offer Chartered Accountants courses include:
The Institute of Chartered Accountants of India (ICAI) is a licencing and examining body. It is the institute's responsibility to conduct Chartered Accountancy (CA) Courses throughout the country. Apart from the training period, a CA programme lasts two years. It is divided into three sections: the Competency Professional Test (CPT), formerly known as the Professional Education Exam PE1, the Professional Competency Examination (PCE), and the Final Examination.