What is Chartered Accountancy?
Chartered Accountancy is best defined as a course that is undertaken by professionals in India when it comes to having proficiency in non-technical fields. In simple terms a chartered accountant is nothing but an accounting professional where they are provided with certification from a statutory body in India making them qualified to manage business.
In most cases Chartered Accountants are required to manage the accounting and taxation of business which includes filing tax returns, conducting audit of the financial statements, maintaining records of investments as well as reviewing financial statements.
There are certain eligibility conditions that need to be taken into consideration so that interested students can be effectively prepared to participate in the preparation of Chartered Accountants examination.
The first eligibility condition includes a student passing their 10th class examination aur any course that is equivalent to the same before they can apply for them CA Foundation examination also commonly known as the CPC.
Once the initial examination has been undertaken it is important that the students complete the intermediate examination which is commonly known as the IPC exam. to become eligible for moving to the next step it is of utmost importance that the student must clear at least one of the two exam groups, that is group one comprising of article construction group two comprising of accountancy concerts.
Once the initial steps have been completed the final step involves appearing for the CA final examination where it is a fact most important that the students clears both the groups. This needs to be accompanied by completing around 2.5 years of articleship training.
Besides the above method there is another direct entry method that can be undertaken by students before they can apply for this CA course. taking into consideration this method it is not important for students to appear for the CA Foundation examination.
The direct route involves graduate and postgraduate students who have studied commerce in the plus two followed by undertaking the same for higher education having a minimum score of at least 55% to appear for the examination. On the other hand, graduates or postgraduates from other fields need to have a minimum of 60% before we can apply for the CA post.
Moreover, it is also important that when they are registering for this course it is of utmost importance that they ensure that it is 9 months prior to the first IPC examination that will be undertaken by them. They are required to pass either single or both groups in the IPC examination. Moreover, they also need to complete 3 years of articleship as well as clear both Groups for the finals before they can be eligible to become a chartered accountant.
It is important to highlight that the exam for chartered accountants is considered to be difficult as it was conducted on a three level basis. The entire examination is divided into two major groups. The first group focuses more on the theoretical concept while the second group focuses more on the concepts of accounting and taxation and other associated aspects of the paper.
It is of utmost importance for aspirants to work towards having better knowledge of the syllabus of these papers and prepare accordingly. students are required to have proficiency in the concepts of accountancy as well as other general theoretical concepts. In most cases students undertake training from experienced teachers we’ve been working in the field for years.
There are several online course builder present on the Internet that can help support the students and make the preparation of this examination easier. In most cases organizations create online courses keeping in mind the requirements of the examination which needs to be mastered by the students. Thanks to online education it has now become possible for our students to undertake training from the comfort of their own homes thereby allowing them to prepare effectively.
It can therefore be concluded that to become a chartered accountant aspirants need to clear a series of examinations having complete knowledge of the syllabus and pattern that is involved. In most cases it has been found that aspirants undertake guidance from experienced teachers to provide them with better understanding and how to become successful in this examination.