Chartered Accounting is one of the most prestigious and rewarding occupations in business. It is a professional course that teaches accounting, auditing, taxation, financial management, and other related topics. If you are a 12th commerce student interested in becoming a Chartered Accountant, you have come to the correct place. In this essay, we will go over the steps to becoming a Chartered Accountant after completing your 12th commerce.
What is a Chartered Accountant?
A Chartered Accountant is a skilled and qualified professional who handles the financial side of a business or organization. Accounting, taxation, auditing, financial reporting, and other related fields are all covered by Chartered Accountants. They advise and assist clients with financial concerns, support them in managing their funds properly, and ensure that they conform with applicable rules and regulations.
The Role of a Chartered Accountant
- A Chartered Accountant’s duty is multifaceted and change based on the organization for which they work. A Chartered Accountant’s primary tasks include the following:
- Accounting and bookkeeping: Chartered Accountants are responsible for keeping their clients’ financial records correct and up to date.
- Auditing: Chartered Accountants do audits to guarantee that their client’s financial statements are correct and in accordance with useful laws and regulations.
- Taxation: Chartered Accountants help their customers minimize their tax bills by providing tax-related advice and assistance.
- Chartered Accountants provide financial reports for their clients, such as balance sheets, income statements, and cash flow statements.
- Financial Management: Chartered Accountants assist their clients in effectively managing their finances, which includes budgeting, forecasting, and investment planning.
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After 12th Commerce, How to Become a CA Steps
After passing your 12th commerce, you must pursue a step-by-step approach to becoming a Chartered Accountant. The procedure is as follows:
1. Enroll for the CA Course
Enrolling in the Chartered Accountant program is the first step towards becoming a CA. The Institute of Chartered Accountants of India (ICAI), the statutory authority responsible for regulating the profession of Chartered Accounting in India, runs the CA program. To enroll in the CA program, you must first register with ICAI.
2. Clear the CA Foundation Course
The CA program has three levels: Foundation, Intermediate, and Final. The Foundation course, which lasts four months, is the initial level of the CA course. You must have completed your 12th standard in commerce and be registered with ICAI to be eligible for the CA Foundation course. Accounting, business law, economics, and business mathematics are among the topics covered in the CA Foundation course.
3. Clear the CA Intermediate Course
The Intermediate course, which lasts eight months, is the next level of the CA course. To be eligible for the CA Intermediate course, you must have finished the CA Foundation course and either passed the graduation test or completed nine months of study. Accounting, auditing, taxation, and financial management are among the topics covered in the CA Intermediate course.
4. Complete the Article-ship Training
Following passing the CA Intermediate exam, you must undergo a three-year article-ship training program. You will receive practical experience in accounting, auditing, taxation, and other relevant areas while working under the supervision of a professional CA. The article-ship training is an important element of the Chartered Accountant course since it gives you hands-on experience and helps you learn.
5. Clear the CA Final Exam
The Chartered Accountant course’s ultimate and final level is the Final test, which is a nine-month course. You must have completed the article-ship training and passed the Chartered Accountant Intermediate test to be eligible for the CA Final exam. Advanced accounting, auditing and assurance, corporate and economic legislation, strategic financial management, and advanced management accounting are all included in the CA Final exam.
6. Become a Member of ICAI
After passing the CA Final test, you must apply for an ICAI membership. If your membership is accepted, you will be given the designation of CA and will be able to practice as one.
Let’s watch a video by India’s Most Experienced Faculty of CA, Chartered Accountant Parag Gupta, who has extensive experience teaching from the Foundation level to the Chartered Accountant Final Level, to better understand ‘How to Become Chartered Ac after 12th Commerce.’
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CA Eligibility Criteria
- To become a Chartered Accountant after completing your 12th grade, you must complete the following requirements:
- You must have completed your 12th grade in commerce with a minimum of 55% overall.
- You must have registered for the CA course with ICAI.
- To be eligible for the CA Intermediate course, you must first pass the CA Foundation test.
- To be eligible for article-ship training, you must pass the Chartered Accountant Intermediate exam.
- To be eligible for the Chartered Accountant Final exam, you must finish the article-ship training.
CA Exam Pattern
The CA test is broken down into three levels: Foundation, Intermediate, and Final. The Foundation exam is a computer-based test with four papers, while the Intermediate and Final exams are offline tests with eight papers each. Exams are held twice a year, in May and November.
CA Study Material
You can use the ICAI study resources to help you prepare for the CA exams. Textbooks, practice manuals, revision test papers, and mock exam papers are among the study materials. You should also enroll in Chartered Accountant coaching programmes to receive expert help and clear your worries.
CA Career Prospects
Chartered Accounting is a highly sought-after profession with numerous job opportunities. A CA can work in a variety of sectors, including auditing, taxation, finance, accounting, and consulting. You can work for a private company, a government agency, or as a self-employed professional. The need for Chartered Accountants is growing in tandem with the economy, and the remuneration packages available to CA are extremely profitable.
CA Salary and Job Opportunities
A Chartered Accountant’s remuneration is determined by the organization for which they work and their level of experience. A CA’s starting income might range between Rs. 6-7 lakhs per year, with experienced Chartered Accountants earning more than Rs. 20 lakhs per year. There are numerous job prospects for CA, including accounting, auditing, taxation, finance, and consulting.
Conclusion
After 12th commerce, becoming a Chartered Accountant is a four-year path that involves hard work, devotion, and patience. To become a Chartered Accountant, you must pass the Chartered Accountant Foundation, Intermediate, and CA Final exam, as well as complete the article-ship training. The need for Chartered Accountants is growing in tandem with the economy, and the remuneration packages available to Chartered Accountants are extremely profitable. If you want to pursue a career in Chartered Accounting, you should begin studying for the tests and take the first step towards your ideal job.
FAQs
Q1. What is the minimal % necessary after 12th commerce to become a Chartered Accountant?
A. To be qualified for the Chartered Accountant programme, you must have a minimum of 55% aggregate marks in your 12th standard in commerce.
Q2. How long does the CA course last?
A. The CharteredAccoutant program is a four-year program that covers the Foundation, Intermediate, and Final levels, as well as internship training.
Q3. What is the exam pattern for the Chartered Accountant program?
A. There are three stages to the CA exam: foundation, intermediate, and final. The Foundation exam is a computer-based test with four papers, while the Intermediate and Final exams are offline tests with eight papers each.
Q4. How much does a chartered accountant make?
A chartered accountant’s remuneration varies depending on the business they work for and their level of expertise. A Chartered Accountant’s starting income might range between Rs. 6-7 lakhs per year, with experienced Chartered Accountants earning more than Rs. 20 lakhs per year.
Q5. What are the future prospects for a Chartered Accountant?
A. Chartered accountancy is a highly sought-after profession with numerous job opportunities. A chartered accountant can work in a variety of sectors, including auditing, taxation, finance, accounting, and consulting. You can work for a private company, a government agency, or as a self-employed professional.
Q6. Can I become a CA after earning a bachelor’s degree in a discipline other than commerce?
A. Sure, you also become a chartered accountant if you have a bachelor’s degree in an area other than commerce. To become a Chartered Accountant, you must first complete the Chartered Accountant Foundation course and then pass the Chartered Accountant Intermediate and Final exams.
Q7. Do I need to enroll in coaching sessions to prepare for the Chartered Accountant exams?
A. Although it is not required to attend coaching programmes to prepare for the CA tests, it can be beneficial. Although the ICAI study material is extensive and covers all areas, coaching programmes can give you expert help and resolve your doubts.