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An individual interested in finance, accounting or auditing would find it prestigious and rewarding to become a Chartered Accountant (CA). A CA is adept at keeping financial records, offering tax advice and becoming a responsible business executive.
This article will discuss how to become a CA by providing information about the process involved, required qualifications as well as opportunities in the market for this role.
A CA is a financial professional who offers fiscal advice, manages accounts, audits and takes care of other accounting procedures for businesses and individuals. They are important players in ensuring that an organization remains financially sound while at the same time offering advice regarding any decisions they need to make concerning their future expenditures.
This is often based on the current income levels available to them. Accountants in various fields such as taxation, auditing, management consultancy or corporate finance are keen on providing these services and are sought after by businesses of all sizes.
To commence the journey towards becoming a CA, one has to start immediately after completing school. You must have completed your schooling with a focus on Commerce subjects like Accounting, Economics and Mathematics. However, students from Arts or Science backgrounds should not worry as they might still pursue a career as CAs but a commerce background comes more in handy.
The first official step towards becoming a CA is joining the CA Foundation course which acts as the entry point into Chartered Accountancy. One can take this course up after passing out from twelfth grade.
This exam is designed to check an individual’s knowledge in accounting, business laws, economics and quantitative aptitude. Passing this examination will enable you to proceed to the next level of study.
Study topics include:
Once you have passed your foundation exam, then it is now time to register for the CA Intermediate course. The CA Intermediate course focuses much deeper into accounting and finance subjects, enabling one to qualify to sit for the CA Intermediate exam.
The CA Intermediate exam is more complex and covers advanced human resource accounting, taxation, public finance and advanced management accounting. To proceed to the next and final stage of CA qualification, one should have mastered these subjects really well.
Among the topics covered are:
After clearing the Intermediate exam, you are required to take a three-year articleship with any practicing Chartered Accountant to become a CA. This practical training forms an important part of your CA journey since it will expose you to several accounting/finance-related roles. Additionally, during this period you will be able to see how the theory which has been taught is practically applied in real-life business situations.
While on articleship, you should also register for the CA Final course. In becoming a CA, this is the last stage that one needs to go through. The course reimburses you with the last touches that you have to equip yourself with, before getting into the final CA examination which will involve advanced finance-related topics, risk management and ethical issues that pertain to professionals in this industry.
This is the toughest challenge that any aspiring Chartered Accountant faces. The final exam is divided into two parts which you have to pass to qualify for a CA title. The subject matter for this exam consists of topics like financial reporting, professional ethics, and risk management.
They cover:
Upon completion of the final examination, one is now eligible to apply for registration as a member of the Institute of Chartered Accountants of India (ICAI). To work as a CA, being a member of ICAI is compulsory. You can therefore adequately refer to yourself as a Chartered Accountant once you have made your application for membership to the institution receiving accreditation already.
It takes around 5 to 7 years to become a Chartered Accountant. Completing CA Foundation, intermediate, and final exams including a three-year CA mandatory internship. For those students who are asking themselves – “how many years it takes to become a CA?” Well, it depends on how long it will take to clear each exam. Consequently, others may need additional time to sit in these exams.
If you are not certain about your career path or want to advance in knowledge, then choose Online Manipal. Online Manipal gives access to different types of online courses offered by Manipal University Jaipur (MUJ) and Manipal Academy of Higher Education (MAHE) that have UGC-recognized degrees.
An MBA in Finance or Data Analytics helps you upskill and learn more. You can pursue these online degrees while having a part-time job since these programs are flexible, less expensive and easily obtainable. These degrees, along with a CA qualification can make your CV/resume look more professional and help you stand out as a top candidate.
As a qualified CA, a range of career opportunities open up for you. You can work as:
The skills gained from becoming a CA are transferable across industries and the demand for Chartered Accountants is consistently high in sectors like banking, finance and corporate finance management.
Though the answer to “How to apply for Chartered Accountant?” requires much dedication, hard work and time, becoming a CA has great rewards. This career offers prestige and respectability alongside job security and financial stability. For those beginning their careers or changing careers completely, CA roles can open up a plethora of new possibilities across industries.
In case you would like to pursue another line of education alongside your job or other life commitments, try one of the online programs offered through MUJ or MAHE – Online Manipal as an alternative or supplementary qualification. These courses allow students to advance their careers while still working.
Information related to companies and external organizations is based on secondary research or the opinion of individual authors and must not be interpreted as the official information shared by the concerned organization.
Additionally, information like fee, eligibility, scholarships, finance options etc. on offerings and programs listed on Online Manipal may change as per the discretion of respective universities so please refer to the respective program page for latest information. Any information provided in blogs is not binding and cannot be taken as final.
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