Chartered accountancy has always remained a prominent career choice for those studying commerce in the later years of schooling. It is generally opted by the students, who are exceptionally good with mathematics and accountancy. Most of these students prefer pursuing chartered accountancy, a profession that calls for hours of training besides academics.
A student can soon after appearing for high school exams can initiate the admission process. For this, they need to visit the Institute of Chartered Accountants of India. Headquartered in New Delhi, this institution has branches in other 4 cities, i.e., Calcutta, Kanpur, Chennai, and Mumbai besides New Delhi. The students need to visit any of these branches and further follow the admission process as per the norms set by the institution.
This course for chartered accountancy seems to be quite lengthy. It asks you to be through the different stages starting from the CPT (Common Proficiency Test).
The way ahead:
CPT (Common Proficiency Test):
It is the preliminary step where the student needs to appear for a common exam. It’s an entry-level test focused on four subjects including Accounting, Mercantile Laws, General Economics and Quantitative Aptitude.
Integrated Professional Competence Course (IPCC)
Once you are through the CPT, you head to pursue the first stage, i.e., IPCC. It is the initial stage of CA curriculum that comprises of two groups. A student is allowed to study and prepare for both these groups simultaneously. They can decide to appear for these groups one after the other or together. IPCC modules are developed to improve the accountancy modules as per the professional accountancy standards. During this course, the students get themselves updated on business communication, business strategies, taxes, information technology and audit.
This is one of the significant stages of CA curriculum that every students needs to go through. Article-ship is the professional training that every CA student undergoes after clearing the first group of IPCC. This includes some guidelines that are needed to be followed. Before the beginning of any article-ship, an agreement has to be executed. It is a professional for CA students where they are introduced to the technicalities of varied assignments. They are also paid stipend during this training.
This is the final stage of CA curriculum where the students get to the core of the subjects including strategic financial management, advanced management accounting, advanced auditing and professional ethics and information systems control and audit. Under the final stage, they are also made proficient in principles of e-governance, corporate and allied laws, international taxation and VAT are important features of the updated subject contents.
Where do chartered accountants get placed?
Chartered accountants are hired in:
Public Limited Companies
Finance, Mutual Funds, Portfolio management, and Investment Companies
Legal Firms, Patent Companies, Trade Marks and Copyright Registers