CA Course Guide - Here Is How To Become a CA

ICAI, which stands for ‘Institute of Chartered Accountants of India’, is the statutory body in India authorized to recognize Chartered Accountants. It also acts as a regulatory body in managing the CA profession in the country. An individual must complete the course designed by ICAI to become a member of ICAI.

The CA course has three levels:

1. CA Foundation,
2. CA Intermediate, and
3. CA Final

In addition to these exams, a student is required to complete 3 years of practical training, also known as ‘Articleship’.

Foundation Course:

The total fee for the CA Foundation Course is Rs.9,200. There is another optional fee of Rs.600 for the subscription of journals. The fee structure is as follows:

• Registration form - Rs. 200
• Registration fees - Rs.9000

Intermediate Course:

The total fee for the Intermediate Course is Rs.18,000 for two groups and Rs.13,000 for a single group. The fee structure is as follows:

Registration Fees

• for both groups – Rs.15,000
• for a single group – Rs.11,000

Student’s Activity Fees – Rs.2,000

Note: This needs to be paid only once. When a student is registering for the second group, this need not be paid again.

Registration Fees for Articleship – Rs.1,000

Final Course:

The Fee for the Final Course is Rs.22,000.

Training Programs:

The fee for ICITSS is Rs.13,500 and for AICITSS is Rs.14,500

The first step for a student to become a Chartered Accountant is to enroll for the Foundation Course with the Board of Studies (BoS) after clearing the Class X examination. Foundation Examination is conducted twice a year in May and November. Students can enroll till December 31st for the next year’s May exam and till June 30th for the November exam. The time gap between registration and examination is meant to complete the four-month study period.

The registration process is through ICAI’s Self Service Portal

Students can attempt the Foundation exams in the month of May immediately after falling after their class XII exams. In case they fail to meet the eligibility, criteria mentioned above after their class XII results are out, their Foundation registration will be canceled, and Foundation exam results invalidated.

Each subject in CA Foundation is tested for 100 marks and the subjects in the syllabus are:

• Paper 1 – Principles & Practice of Accounting – Descriptive Paper
• Paper 2 – Business Law & Business Correspondence and Reporting – Descriptive Paper
• Paper 3 – Business Mathematics, Logical Reasoning & Statistics – MCQ-based Paper.
• Paper 4 – Business Economics and Business & Commercial Knowledge – MCQ-based Paper.

To clear the CA Foundation, a student must get a minimum of 40 marks in each subject and an average of 50% across all papers. Also, the MCQs carry negative marks. If the student does not clear either of the marks-based criteria, the student may take the exam again 6 months later and attempt to clear the level.

After passing the Foundation examination, one must enroll in the Intermediate course, the syllabus for which is divided into two groups. It is compulsory to complete an 8-month study course to appear in the exam. This exam is also conducted twice a year, i.e., in May & November.

Once the student clears even one group of CA Intermediate, he/she is eligible to enroll for the mandatory articleship training for three years. Students are required to undergo a four-week Integrated Course on Information Technology and Soft Skills (ICITSS) before starting articleship training.

During the articleship, one can register for the Final Course (divided into two groups) but only after passing both the groups of the Intermediate Course with at least 40% in each subject and 50% overall.

A student may clear each group Independently or both groups together. If a student is writing one group, the marks criteria (40% minimum & 50% average) must be satisfied for all subjects in the group. If the student is attempting both groups, the student must secure a minimum of 40 marks in every subject, but it is sufficient if she/he secures an average of 50% across all 8 subjects.

If a student is not able to clear a group, he/she must write all subjects of the group again. However, if the student secures more than 60 marks in any subject during a failed attempt, then she/he is given exemption from appearing in exams for that subject for immediate 2 attempts. A student must appear in all four papers to be eligible for claiming the exemption. This exemption facility is present only at Intermediate & Final levels and not at the Foundation level.

The above provision of writing exams all over again is the ‘Killer’ provision that makes CA a tough course. This is where most of the students get stuck unable to clear the course.

After clearing the Intermediate level, one must undergo a four-week Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) during the last two years of training. This is a must to appear in the Final examination which can only be attempted after completing at least two and half years of training.

The Final exam is also conducted twice a year. After completing the articled training and passing both the groups of the Final Course with at least 40% in each subject and 50% overall, one can enroll as a member of ICAI and can be designated as a CA.

Subjects in the Final Course are again divided into groups of 4 papers each:

Group 1

1. Paper 1: Financial Reporting - 100% Descriptive
2. Paper 2: Strategic Financial Management - 100% Descriptive
3. Paper 3: Advanced Auditing and Professional Ethics - 30% MCQ & 70% Descriptive
4. Paper 4: Corporate and Economic Laws - 30% MCQ & 70% Descriptive

Group 2

1. Paper 5: Strategic Cost Management and Performance Evaluation - 100% Descriptive
2. Paper 6: Elective Paper - 100% Descriptive
   • 6A Risk Management
   • 6B Financial Services and Capital Markets
   • 6C International Taxation
   • 6D Economic Laws
   • 6E Global Financial Reporting Standards
   • 6F Multi-disciplinary Case Study
3. Paper 7: Direct Tax Laws & International Taxation - 30% MCQ & 70% Descriptive
4. Paper 8: Indirect Tax Laws - 30% MCQ & 70% Descriptive

Group wise clearing & minimum marks requirement (40% minimum and 50% Average) is applicable in CA Final also.

In this route, students can bypass the Foundation Course provided they satisfy certain criteria.

Graduates or postgraduates opting for Direct Entry must complete at least 9 months of articleship training before attempting the intermediate examination. They should also register for both the groups of the Intermediate Course.

However, for students who have previously passed the Intermediate level examination of the Institute of Company Secretaries of India (ICSI) or Institute of Cost Accountants of India (ICAI), this condition does not apply. After enrolling for the Intermediate course, they just have to complete the 8-month study period before attempting the exam.

Students pursuing CA through Direct Entry should have passed at least graduation or the Intermediate level examination of the Institute of Company Secretaries of India or Institute of Cost Accountants of India. For commerce graduates/post-graduates, at least 55% aggregate is the requirement, which becomes 60% for non-commerce streams.