Career Options in Chartered Accountancy (CA) after class 12th
With new streams and functions emerging in the education sector, students today have a plethora of career options to choose from after their 12th, particularly for the commerce undergrads. But among all the new courses, there are traditionally renowned professional courses like Chartered Accountancy that provides for a solid professional career for students opting for it. With changing scenario in the corporate functioning this is also a professional course that undergoes revisions to keep up with the industry demands, thus preparing its students for the corporate world and a fulfilling career in chartered accountancy. Here is a small guide for the aspirants to get clarity on Career options in Chartered Accountancy in India after 12th Commerce.
The first question that runs across the mind of a student before getting into a professional course is- what is the course all about and what can he/she expect from that course as a career. To tell you briefly, Chartered accountancy is one of the best professional courses offered in India. A Chartered Accountant is like a governor for a company specialising in accounting, auditing and taxation. It is a profession requiring great responsibility since, according to the Companies Act, only a CA in professional practice can be appointed as the auditor in a company. CA’s are the first level of vigil mechanism in a corporate setup who are responsible for auditing of a company’s records and presenting their true & fair value before the general public. Chartered Accountants are also experts in tax planning and legal matters are often appointed by people for tax consultations.
Why choose Career Options in Chartered Accountancy?
Chartered Accountant is a reputed and rewarding profession in India and is evolving and growing as the economy and finance sector in the country is booming. With many multinationals and banks entering the Indian markets, the scope of competent CA career is growing and is thereby one of the most rewarding career options for commerce students to opt for. From a small setup of an independent CA firm to being appointed as a CA in a corporate, career growth prospects in this profession are huge and promising.
Eligibility for the CA Degree
The CA degree is awarded by the most prestigious institutions in the Country, known as ICAI (Institute of Chartered Accountants of India. Basic eligibility for a CA program, requires aspirants to pass 10+2 from a recognised board.
- Common Proficiency Test (CPT)
- Integrated Professional Competence Course (IPCC)
- Final Examination
One must register with ICAI and apply for Common Proficiency Test (CPT), 60 days prior to the exam. Upon successful completion of CPT, candidates are eligible to register for the Integrated Professional Competence Course (IPCC).
The CA course comprises of three stages-
- The Foundation course
- Final CA course.
The subjects across these three stages comprise of Laws, Accounting, Economics, Taxation, Quantitative analysis and Information Technology. The syllabus is revised time and again by the Institute to make the course more relevant to the students but subjects more or less remain the same. To qualify minimum 40% marks are required to be scored by candidates in each subject and an aggregate total of 50% is required. Once, a candidate passes the final course they need to enroll themselves as a member of ICAI and thereby get designated as ‘Chartered accountant’. Apart from this student also needs to complete 3 years of article ship with a practicing Chartered Accountant and complete 100 hours of Information Technology Training (ITT) and orientation before starting article ship.
Job Prospects for CA Professionals
Like we mentioned earlier in this post, in India’s growth scenario, career prospects after a CA are both exciting and well-paid. The demand for CAs has been growing from 10 to 15% every year. The qualification of CA is recognized globally and hence has a bright scope internationally. From banks to corporates to Multi nationals, the demand for CAs exists in all industries. Big companies like Ernest & Young, Delloitte, Price Waterhouse Coopers & KPMG, recruit CA’s regularly for their business.
The pay packet for a starting CA ranges from about 10000 to 15000 depending on the kind of firm one intends joining. As a full-fledged CA one starts from a salary of about 30,000 and the maximum can be a very lucrative number.
All said and done, one must keep in mind that Chartered Accountancy is a very serious and professional course where one builds a career with years of dedicated study and toil. 10+2 is an early start into this course that helps one finish the course and get a degree just after graduation. To get further details on the course fee, exam forms, fees and syllabus, you can visit ICAI’s official website ICAI – The Institute of Chartered Accountants of India.
‘What to do after 12th Commerce?’ is a question that circles around commerce students quite often. If you are on of them then consider Career Options in Chartered Accountancy (CA) after class 12th. If you have any doubts, Please write to us in comments below.