How to Become CA After 12th

A Chartered Accountant – What is your reaction when you hear about it? Yes Of course! You want to know all about the CA. How to become a CA after 12th is the common question? If that is so? Then, this is the right article giving you the overall information of the CA -Eligibility, Qualification, Syllabus, and Preparation.

Have set your ambition in your life to become a Chartered Accountant? But don’t know where and how to start the preparation for a Chartered Accountant Course. What is the eligibility, qualification, and when to start? Are the big Question marks to start and crack the CPT exam.

What is ICAI

ICAI stands for the Institute Of Chartered Accountants India. It is a statutory body that is established by an Act of Parliament. ICAI regulates the whole functioning of Chartered Accountancy in our country.

About Chartered Accountant (CA)

A Chartered Accountant is an accounting professional. His main role and responsibility are to look forward to the financial statements of the businesses, tax returns, audits, at the same time advise the clients on the financial terms of the business.

A person to become a chartered accountant has to pass 3 qualifying levels of the examination. After the candidate passes one level he is eligible for another. The three levels of the examination are CPT, Intermediate exam, Final exam

Role & Responsibilities of CA

The roles and responsibilities of a CA are mentioned below.

  • He/She has to manage the financial systems and budgets.
  • He/She has to provide financial advice.
  • He/She has to manage junior colleagues.
  • He/She has to review the accounts and take a risk to work hard.
  • He/She has to look for financial audits.
  • He/She can advise on treasury or tax issues. 
  • He/She has to prepare financial statements on both an annual and monthly basis.
  • He/She has to do audit works.
  • He/She gives tax advice.

A person to become a chartered accountant has to pass 3 qualifying levels of the examination. After the candidate passes one level he is eligible for another.

Role & Responsibilities of CA

The roles and responsibilities of a CA are mentioned below.

  • He/She has to manage the financial systems and budgets.
  • He/She has to provide financial advice.
  • He/She has to manage junior colleagues.
  • He/She has to review the accounts and take a risk to work hard.
  • He/She has to look for financial audits.
  • He/She can advise on treasury or tax issues. 
  • He/She has to prepare financial statements on both an annual and monthly basis.
  • He/She has to do audit works.
  • He/She gives tax advice.

How to Become CA After 12th

how to become CA after 12th

Eligibility Criteria

To apply for the CPT exam you need to possess some eligibility criteria. The eligibility criteria to apply for the CPT exam are listed below.

Educational Qualification

  • For a candidate to appear for the CPT exam he/she should have passed the 12th examination from a recognized Board.
  • Even  Science students are eligible to for  CPT Foundation Exam.

Registration

Secondly, but most importantly the candidate has to register himself/herself with the Board of studies of ICAI. Registration should be done within the time limit.

Validity

The registration with ICAl is valid for a period of 3 years. If a candidate wishes to give more attempts he/she has to re-register.

Registration Number

After registering with ICAI a candidate will get a registration number. The candidate has to keep this number safe. This number is a must while filling CPT Form.

Exemption

There is an exemption for the CPT exam for the students as listed below.

  • The students who have passed graduation or post-graduation in the branch of commerce from a recognized University. And, also have secured an aggregate of 55% of the total marks in certain subjects.
  • Graduates or postgraduates who have secured at least a minimum of 60% marks from a recognized University are exempted from the CPT exam.

Number of attempts

  • There is no such limit for the CPT Exam attempts.
  • A candidate can give as many attempts as he/she wishes to.
  • The only thing that he needs to do is to register himself/herself with ICAI.

How to fill CPT Form

To fill the CPT Form follow the following steps.

Step 1: Click on http://icaiexam.icai.org

Step 2: Fill the form with all necessary details

Step 3: Choose the preferable exam center. There are many exam centers available all over India

Step 4: Pay the fees of Rs. 1000/-

Step 5: Recheck the information

Step 6: Click on the Submit button

Step 7: Take a printout and keep it safe with you.

CA Exam & Syllabus

A person to become a chartered accountant has to pass 3 qualifying levels of the examination. After the candidate passes one level he is eligible for another. The three levels of the examination are as follows.

  1. CPT exam or CA foundation exam
  2. Intermediate exam
  3. Final exam

The candidate also has to complete an Articleship of 3 years. Here, the candidate has to undergo practical training under a chartered accountant by joining a chartered accountant firm.

1. CA Entrance Exam – CPT

What is CPT

Common Proficiency Test (CPT) is the entrance exam to become a Chartered Accountant(CA). It is a National Level Exam conducted by an authorized body ICAI. It is a pen-paper mode of exam which is conducted twice a year.

This is the first level of a Chartered Accountant. Generally, it is conducted in the month of May and November approximately.

CPT Exam Pattern

Exam ModeCPT is a pen-paper test
Marks400 marks
Duration
Paper 1 & 2 – 3 hours
Paper 3 & 4 -2 hours
LanguageThe candidate can choose Hindi or English language
Negative MarkingPaper 1 & 2 – No negative marking
Paper 3 & 4-  0.33 is the negative marking
Question Paper TypePaper 1 & 2 – Subjective
Paper 3 & 4-  Multiple Choice Questions(MCQ’s)

CPT Syllabus

Paper SubjectMarksDuration
Paper 1Principles & Practice of
Accounting
100marks3 hours
Paper 2Business Law & Business Correspondence
(Business Law)
 (Business Correspondence)


60 marks
40 marks
3 hours
Paper 3Business Mathematics, Logical
Reasoning & Statistics
Business Mathematics
Logical Reasoning
Statistics 


40 marks
20 marks
40 marks
2 hours
Paper 4Business Economics &
Business-Commercial Knowledge
Business Economics
Business -Commercial Knowledge


60 marks
40 marks
2 hours

Passing Criteria & Cut off

  • The candidates should secure marks prescribed by the ICAI
  • A candidate should secure a minimum of 30 % marks in each section
  • And the average minimum marks of  50% in both sections
  • No reservation system is followed for the CPT exam. The candidates qualify for this examination irrespective of their OBC/SC/ST category. In short, it is totally on a merit basis.

Cut Off

SubjectCut off for CPT
Fundamentals of accounting30% of 60 marks
Mercantile laws30% of 40 marks
General Economics30% of 40 marks
Quantitative Aptitude30% of 50 marks

2. Intermediate exam

The intermediate exam is descriptive as well as objective in nature. It is a second-level exam of Chartered Accountancy. The exam is conducted in Hindi and English. It consists of 8 papers but papers 1,4 and 5 are held in English only.

Course Details 

The course details to be a CA are mentioned below.

CoursesDurationFees
CA Foundation Course3-4 monthsRs. 11,500
CA Intermediate Course8 monthsRs. 2 Lakhs
CA Articleship3 yearsRs. 2,000
CA Final Course5 monthsRs. 33,000

Syllabus

Group 1 

Group 1 consists of 4 papers which are listed below. These four papers are of 100 marks each.

Paper 1: Accounting 

Paper 2: Corporate Laws & other Laws

TopicsMarks
Company Law60 marks
Other Laws40 marks

Paper 3: Cost & Management Accounting

Paper 4: Taxation

SectionsSubjectsMarks
AIncome Tax Law60 marks
BIndirect Taxes40 marks

Group 2

 Group 2 consists of 4 papers. They are as follows. These four papers are of 100 marks each.

Paper 5: Advanced Accounting 

Paper 6: Auditing and Assurance 

Paper 7: Enterprise Information Systems & Strategic Management

PartsSubjectsMarks
IEnterprise Information System50
IIStrategic Management50

Paper 8: Financial Management and Economics for Finance

PartsSubjectsMarks
IFinancial Management60
IIEconomics of Finance40

3. Final Exams 

The Final Paper consists of 8 Papers. After passing the intermediate exam you are eligible for CA Finals. This is the last level of the exam. After qualifying for this exam you become a Chartered Accountant.

Exam Pattern & Syllabus

Paper-1: Financial Reporting

Paper-2: Strategic Financial Management

Paper-3: Advanced Auditing and Professional Ethics

Paper-4: Corporate and Economic Laws

Paper-5: Strategic Cost Management and Performance Evaluation

Paper-6

  • A: Risk Management
  • B: Financial Services and Capital Markets
  • C: International Taxation
  • D: Economic Laws
  • E: Global Financial Reporting Standards
  • F: Multidisciplinary Case Study

Paper-7: Direct Tax Laws and International Taxation

Paper-8: Indirect Tax Laws

Job Description

Auditor

Their role is to cross-check the finance of a company and keep track of the accounts of the organization.

Business Services Accountant

Their role is to give tax and business services to the clients. As business service accountants, they keep an eye on the depreciating assets, advise and guide accountant maintenance and strategies.

Accounts Clerk

They check the transaction and keep a record of it. As an accounts clerk, you need to focus on billing and receiving the payment.

Tax Accountant

They are good in the taxation part. As a Tax Accountant, you must know how to manage audits, returns for the organization or individuals.

Chief Financial Officer (CFO)

They guide the organization or individual regarding finance.

Financial Controller

As a Financial Controller, you have to work in coordination with the team and helping them for the growth of the business.

Cost Accountants

They look into the cost and production of the company. As for cost accountants, they have the potential to guide the company to take care of their cost management.

Specialization For CA

As a Chartered Accountant, you can pursue a specialization in any of the fields and get a job opportunity.

  • Business Valuation
  • Financial Planning
  • Forensic Accounting 
  • Auditor
  • Corporate Financing
  • Cost Accounting
  • Company Liquidator
  • Share Valuer
  • Tax Advisor
  • Management and Corporate Consultancy
  • GST Experts
  • Financial Reporting
  • Management Accounting

Career Scope

As a Charter Accountant, there are many job opportunities or scope to have a bright future.

  • Public and Private Sector Banks
  • Finance Companies
  • Patent Firms
  • Public Limited Companies
  • Legal Firms
  • Stock Broking Firms
  • Auditing Firms
  • Investment Houses
  • Portfolio Management Companies

Top Recruiting Companies in India

The top recruiting companies in India to hire CA are listed below.

  • KPMG
  • EY
  • Bhatia and Bhatia Chartered Accountants
  • Indian Oil
  • Deloitte
  • SS Kothari Mehta & Co.
  • Sri Guru Kripa
  • Real-time Taxation Services

Salary of a CA

The salary of a Character Accountant based on a different post is mentioned below.

Job ProfileInitial Salary In INRIntermediary Salary In INRFinal Salary In INR
Chartered AccountantRs. 3,50,000Rs. 7,00,000Rs. 12,00,000 – Rs. 24 Lakh per annum
Business Services AccountantRs. 1,50,000Rs. 2,08,000Rs. 3,50,000
Cost AccountantsRs. 1,50,000Rs. 2,34,000Rs. 4,00,000
Accounts ClerkRs. 1,50,000Rs. 2,07,000Rs. 3,50,000
Chief Finance Officer (CFO)Rs. 2,00,000Rs. 4,00,000Rs. 6,00,000

Tips to Become a CA

A big advantage that you get in CPT is that the book is sent to you by ICAI. So you have very good reference material for CPT. You will not get confused about what to refer to and what not to.

Make Notes

Though you have got the reference material it is a must that you prepare your own keynotes. That will greatly help you revise your lessons at the time of examination and also save time.

Adequate Time

Looking forward to the nature of the exam it is better that you start your preparation prior to hand only. If you have set your goal to become a Chartered Accountant, then it is advisable that you start the preparation for the CPT exam from 11th std itself. Self-study or joining any coaching for preparation is your choice.

Time Management

Time Management for this study is very important. Prepare a timetable for yourself in such a way that each of the 4 subjects is given proper time. Follow the timetable on a daily basis.

Focus on Accounts

An account is a key subject for Chartered Accountants. So its practice and focus are of vital importance. Practice accounts on a daily basis and makes your concepts crystal clear.

Concept Understanding

Understand the concepts point out charts and keynotes. Make charts for formulas. Do not by heart the concepts. It will not help you in any way. Though you take some time but try understanding the concepts.

Solve your doubts

Try solving all your doubts as to and how you get. Make your concepts and doubts clear and then only move forward. You move on keeping your doubts in mind.

Solve Previous Year Exam Paper

Try solving the previous year’s papers. This will make you familiar with the exam paper pattern and time management.

Conclusion

To conclude, this was all about How to become CA after the 12th. Hope the journey to CA is all quoted here in short. These guiding steps will surely help you to reach your goal of becoming a Chartered Accountant. If you have any queries related to Chartered Accountants you can ask me by commenting in the comment box.

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