How to Become a CA (Chartered Accountant) in India after 12th or Graduation
Chartered Accountant is the most reputed course in the commerce stream. Hence, every commerce student dream to be a successful Chartered Accountant and wants to know how to become a Chartered accountant in India but becoming CA is not that easy. It needs complete dedication, hard work, and passion for this course.
If you can’t give all these things then leave it, CA is not a course for you.
Here we are sharing with you a guide on How to be a Chartered accountant in India which will surely help you to become a successful Chartered Accountant. But before starting such, let me explain to you the process to become a Chartered Accountant in India.
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Steps to Become a Chartered Accountant in India
The vast syllabus of Chartered Accountancy is divided into 4 steps –
- CA Foundation
- CA Intermediate
- Articleship Training (3 year)
- CA Final
VSI All India Toppers
VSI student Ajay Agarwal achieved ALL INDIA 1st Rank in May 2019 in CA Final with EVER HIGHEST Marks in the history of ICAI after Atul Agarwal who achieved ALL INDIA 1st rank in 2018.
CA Final May 2019 Topper’s Interview
How to Become a Chartered Accountant in India in First Attempt.
If you are planning to become Chartered Accountant in India through CA Foundation then we are making an assumption that you have planned to appear in CA Foundation right after 12th. Let’s start with June where your 12th result has been declared and you have relaxed for a good period and now you have 5 months left to appear in CA Foundation.
CA Foundation is an entry-level test in order to pursue Chartered Accountancy. The course is much similar to your 11th and 12th standard (Commerce stream). CA Foundation syllabus is divided into four subjects –
Paper 1: Principles and Practices of Accounting
Paper 2: Mercantile Law and General English
Part I: Mercantile Law
Part II: General English
Paper 3: Business Mathematics, Logical Reasoning, and Statistics
Part I: Business Mathematics and Logical Reasoning
Part II: Business Statistics
Paper 4: Business Economics & Business and Commercial Knowledge
Part I: Business Economics
Part II: Business and Commercial Knowledge
The paper pattern in CA Foundation is partially objective and partially subjective. The above two papers are of the subjective type and the next two papers are objective type. You have already gone through the Accounts in your senior secondary classes hence it is scoring and this subject can really help you to cover your aggregate percentage. So, give your 100% on this subject.
Mercantile Law is a new subject for you but this one is also scoring. You need not learn each and every section. Make sure your concepts should be clear.
Both the above subjects needs practice as well as good presentation skills.
The third paper Business Mathematics, Logical Reasoning, and Statistics having an objective-based paper pattern. Generally, it has been seen that Maths is the weakest factor among commerce students (exceptions are always there). But this paper is divided into three sections –
- Business Mathematics (40 Marks)
- Logical Reasoning (20 Marks)
- Business Statistics (40 Marks)
So, you have two more options besides Maths. No Doubt, Logical Reasoning is always scoring. Are you worried that you commit a lot of calculation mistake in Stats? Don’t worry, 12 digit calculator is allowed in CA Foundation Exams. But you have to practice on the calculator and also learn short tricks which saves your time in Examination hall.
Fourth Paper is Business Economics and Business and Commercial Knowledge, if you are a CBSE student or RBSE student who chose Commerce with Economics, then this paper is also scoring for you. Other students need a little bit more effort and practice.
Both subjects are objective type. Hence, you need a lot of practice. Start practicing the modules given by ICAI and also set time because speed is one of the key factors in clearing CA Exams.
Follow the link and start your CA Foundation preparation today!
CA Foundation Registrations can be done from the given link, enroll yourself!
CA Intermediate will be your next level in the Chartered Accountancy journey after clearing CA Foundation. Some students who are graduates or postgraduates can also apply for the CA course through the Direct Entry Scheme at the Intermediate level. The syllabus in CA Intermediate is very vast and this thing makes this level the challenging one. Generally, students are not able to clear the exam in the first attempt at this level but if you plan your studies and revision in the right manner, you will not only clear this level in your first attempt but also able to achieve a rank, if you dream so.
After the declaration of CA Foundation result, 9 months will be left in your CA Intermediate Exams. Clearing this level with coaching is really tough, but coachings are necessary too. Hence, you should join a CA Intermediate coaching somewhere which guarantees you to complete the classes within 5-6 months so that you will get enough time for self-study and revision. And don’t neglect the modules given by ICAI. It gives you an idea of questions asked, presentation demanded, and how to answer in the exam.
Thereafter, revise the Syllabus properly. Remember, three times revision is must to clear CA Intermediate. Complete your course at least two months before exams. Then properly divided the time between revision and practicing papers.
The thing which most of the students lack in CA Intermediate is Practice. Take out time for solving Mock Test Papers and solve at least past attempts papers before Exam.
Tip – Complete the subject 100% in which you are confident that you can score exemption as it will help you in covering your aggregate score.
Candidates can start their Articleship Training as soon as they passed any of the group of CA Intermediate. But before that, you must have undergone ITT and OT Program.
Candidates who have appeared in both the groups of CA Intermediate together should try to complete 100 hours of IT training during this waiting period. This will save your time after the declaration of the CA Intermediate result. After completing IT, if possible, complete your OT program also.
The candidates who have appeared in a single group should start preparing for the next group. If you plan articleship and next group with office then this will really be a tough task and it might take your several attempts of the second group. Hence, you should complete your CA Intermediate first and then go with Articleship Training.
Some students go for dummy articleship but trust me this is the biggest mistake. Articleship training gives you a vast exposure to practical experience. Hence, it is referred to as a direct ticket to the corporate world. So, never ever think of taking dummy articleship.
Now the next question coming to your mind is where to join articleship either in middle size firm or firms like Big 4, Kalani, PC Modi etc.
Offcourse, experience from Big 4 or Kalani adds your value in comparison to any medium size firms. Here you will get to learn to deal with clients, exposure to various listed and non listed companies and you will expertise in the department where you will work at. But you must be ready to deal with a lot of pressure. Many times you have to miss your classes, go for outstation audit and have to work late at night. But all this will become an experience after you clear CA Exam.
On the other hand, medium size firms are most preferable as due to less number of employees or article, here article instead of working in a single department gain knowledge in each and every field.
They get an opportunity to work over Income Tax, Audit, GST etc. As well as, students mostly get timely leaves for the preparation of their exams. Neither they have to miss classes frequently nor they have to work under pressure.
But of course, they have to struggle for getting Job after completing articleship from a medium-size firm.
“The more you sweat in Practice, the less you sweat in war”
This is the last step in the Chartered Accountants Journey and the biggest challenge. After completing both the groups of CA Intermediate one can register for CA Final. Although, the candidate can appear in CA Final only when he has undergone through GMCS and Advanced ITT.
This level requires you to expertise in each and every subject. If you plan to complete the Company law which consists 70 marks and leaves the Allied law which consists of 30 marks and clear the exam. Then drop this idea, because ICAI wants you to have knowledge of every topic it has included in the course. Until you won’t be able to crack this exam.
The most difficult task came before CA Student is managing studies with the office. Hence, often students complete their classes amid the training period and go for self-study after such period and this is the reason behind low pass percentage in CA Final. Studies have proved that we can remember things up to two weeks only if we don’t revise much. Therefore, complete your revision once with the class so that you can ask your problems as soon as they discover.
Second thing for which students are worried is when to start classes and which classes should be taken first?
You should go for the practical subjects first where chances of the amendment are less hence start with Financial Reporting, Strategic Financial Management, and Strategic Cost Management and Performance Evaluation. This will take your one year to complete these subjects. Then you can choose one practical subject and one theoretical subject like DT and Advanced Auditing or IDT and Corporate and Economic Laws, and one elective paper.
Prefer the theoretical subjects in last so that you will not forget the concepts till the exam. DT and IDT should also be completed in last as both the subjects come with plenty of amendments in every attempt. Hence, keep them for last.
Make sure that all your coachings and first reading have completed 6 months before the exam. Six months should be kept aside for the revision only. During this time, you need more and more practice so that you can prepare well for the Final Exams. If possible, give the Mock test also, conducted by ICAI in every attempt which will show you a true picture of your preparation.
After appearing in the Exams, complete your MCS 2 so that your time does not get wasted after the declaration of CA Final result. Beside this, prepare yourself for the interview to be conducted in campus placement.
Note – If you are not ready to handle both the group together, then go for the single group. It will save you from getting an attempt.
We hope you now know how to become a chartered accountant in India after 12th or graduation.
Frequently Asked Questions
Q1. Pursuing CA courses is best after 12th or after graduation?
Ans: Candidates can pursue CA courses after 12th and after graduation. It depends upon their preferences when they want to start their courses. The first level of CA is CA foundation. CA takes around 4.5 years to complete.
Q2. Who are eligible for the CA courses after completion of class 12th?
Ans: Candidates have to score a minimum of 40 percent marks in their class 12th exams to be eligible for CA after 12th.
Q3. What is the fee structure of CA courses?
Ans: There are three levels of CA courses, and the fees of all the three levels vary. Log on to VSI to know about the fee structure of CA in India.
Q4. To pursue CA after graduation which degree is required by the candidates?
Ans: If a candidate BCom or M.Com degree its add plus point in pursuing CA after graduation.