Chartered Accountant Requirements
Apart from successfully completing the Graduation diploma of Chartered Accounting, candidates interested in CA must clear the enlisted practical experience requirements to be acknowledged as a member of the institute.
Chartered Accountant Requirements
- 3 years full time experience in an organization accredited by the Institute – Falling for 3 years of membership, candidates must be in recognized employment, along with finishing their graduate diploma studies.
- Mentored by a Chartered Accountant – A mentor must belongs from one of the reckoned overseas bodies or just be a member of the institute.
- Manifested required levels of technical and non technical competency figured out in the candidate practical experience activity log – Via a logbook :
- Financial accounting and reporting
- Business and commercial law
- Management accounting and control
- Finance and financial management
- Audit and assurance
Along with technical areas, candidates must also depict evidence that they have acknowledged 100% competence in all of the following non-technical areas:
- Information Technology
- Organizational and business areas
- Professional skills
- Professional values, attitude and ethics
In the last to be admitted to membership, interested person’s must subject a Final Mentor’s report, completed and signed affirming they have acquired the required level of workplace competence.
How to become Chartered Accountant ?
To become a good Chartered Accountant, you just no require numerical liabilities and business intelligence, but also need objectivity, good communication skills, independence of integrity and work under thorough pressure and time deadlines. Now switching towards course details requirements, in order to become a Chartered Accountant, one has to follow the following courses of study:
Professional Education Course (Chartered Accountancy Course)
By joining the professional education PE course, one can join Chartered Accountancy course. The course has been available in 2 sections i.e. PE Course I and PE Course II. PE Course I is mandatory for students joining after 10+2 and graduates with less than intended marks. In fact, candidates who are graduates with more marks and have already cleared the I.C.W.A.I (Final Examination of the Institute of Cost and Work Accounts of India) and Institute of Company Secretaries of India (I.C.S.I) are freed from PE Course I. On the other hand, PE Course II is mandatory for all disregarding the truth whether one is coming from PE Course I or get freed from that course.
PE (Professional Education) Course I
The minimal duration of the course is 10 months and registration is open all throughout the year. In the month of May and November, the exams were held twice in a year. At least 10 months before the examinations, student gets registered. The study material or the professional course –I includes Mathematics, Statistics, Economics, Fundamentals of Accounting, Business communication, Organization and management. For passing the examination, one must obtain a minimum of 40% marks in each paper, minimum of 50% of the total papers of all the papers should be there and 5 successive efforts are provided for passing the examination.
PE (Professional Education) Course II (Accounting, Auditing, Business and Corporate Laws)
After completing PE Course I, one has to join PE Course II and the minimum duration of this course is 10 months. The subjects of study included for the professional course II are divided into 2 groups i.e. Group I and Group II. Group I comprises Accounting, Auditing, Business and corporate laws. Whereas Group II included financial management, Cost accounting, Income tax, Central Sales tax and Information Technology. Group I comprises Accounting, Auditing, Business and corporate laws. Whereas Group II included Financial management, Cost accounting, Income tax, Central Sales tax and Information Technology, a student can appear either in one group in one exam or in both groups at the same time and also in the other group at any following examination but he/she need to pass in the two groups. The group will be declared to have cleared in one group if in the first attempt it secures minimal of 40% in each paper and 50% as an aggregate in all the papers. Likewise, 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.
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