Are you dreaming to be a Chartered Accountant? And Why not? Nowadays, we are all trying to find a profession that comprises of respect, prestige and awe-inspiring financial rewards then Chartered Accountancy is often seen as a great option. So in this article, we will go through the subjects needed to become a CA after 12th board exam in India. The term Chartered Accountants has a charm to it. It makes you stand out in the crowd. Now as per the latest data, there are 2.8 lakhs Chartered Accountants in the population of 130 crores in India.
Pursuing CA isn’t a simple task, it requires high dedication, hard work, and talent. Some students spend years to become a Chartered accountant. But if you don’t want to spend years and years studying it is important that you prepare from the very first day. Any student can pursue CA after 12th class, whether you are a commerce student or a science student. But, students mainly with commerce background go for Chartered Accountancy course because they have a knack for its core subjects i.e. Accountancy.
In this article, we are guiding you on the subjects you opted in 11th and 12th and how can they assist you in your further studies of CA.
Commerce With or Without Maths –
As we all know that anybody can opt CA whether or not he belongs to commerce stream but students from commerce stream mostly opt CA as their course are much almost alike its entry-level test. It gives you a strong foundation of its important subjects i.e. Accounting. Maths with Commerce is like icing on the cake because it’s a mandatory subject in CA Foundation. It becomes quite easy for a commerce student to pursue Chartered Accountancy in comparison to students from other fields. CA after 12th commerce with or without maths becomes easy for the students.
Students belonging from the CBSE or ICSE Boards are in a good place to opt CA because it involves Mathematics. However, state boards have given options with commerce and who didn’t choose Maths need to work hard while preparing for CA Foundation.
Science With Maths –
So many students belonging from Science Stream with Maths in 11th and 12th choose Chartered Accountancy course. Maths is the core subject in Entry-level Exam of CA i.e. CA Foundation and this is often the most important advantage for these students. They might be able to solve Maths and Stats problems without any help. Law is new for all the students, what remains is Accounts and Economics. CA Aspirants get 4 months of study time once they get registered into the CA Foundation course and if studied with proper guidance and help then 4 months are quite enough to go through the remaining subjects. Many students choose CA after 12th Science with maths as they are good in solving mathematical problems.
Science Without Maths –
Very few students from this stream opt Chartered Accountancy. Science may not help you much to study Accounts and Economics and being a non-maths student, you will struggle while studying Business Maths, Logical Reasoning, and Statistics. But there are still so many students who even after belonging from Science without Math shave became successful CAs and got placed in well-reputed companies at higher packages. Although you need to study for all the four subjects if you’re hard- working then it’s quite easy for you to handle. It becomes typical for the students who choose CA after 12th Science without maths as Chartered accountant is all about calculating financial stuff.
Let’s check further about the Subjects at different levels-
CA Foundation Exam Paper’s Pattern-
In CA Foundation Exam Pattern there are two subjective type papers and two objective type papers of four subjects which are as follows:
- Paper 1: Principle and Practice of Accounting
- Paper 2: Business Laws and Business Correspondence and Reporting
- Paper 3: Business Mathematics and Logical Reasoning & Statistics
- Paper 4: Business Economics and Business and Commercial Knowledge
There are 100 marks for each subject and you at least need 40% of minimum marks in each subject and 50% aggregate is required for qualifying the CA Foundation level.
The Intermediate Examination–
The intermediate level can be competed directly after graduation or post-graduation and also by qualifying CA Foundation level if you have started your journey to become a Chartered Accountant after 12th.
CA Intermediate Exam Pattern –
Exam paper for Intermediate Course is divided into two groups – both group includes 4 subjects of 100 marks each and hence makes a total of 8 subjects of 800 marks. It is a complete subjective paper pattern for 4 papers and combined subjective & objective (70:30) for rest 4 subject. Eight subjects and two groups consisting 800 marks.
Subjects are given as follows –
1. Accounting
2. Corporate and other Laws
3. Cost and Management Accounting
4. Taxation
5. Advance Accounting
6. Auditing and Assurance
7. Enterprise Information System and Strategic Management
8. Financial Management & Economics for Finance
Students are required to obtain 40% marks in each paper and 50% marks in aggregate of all the subjects. A student can appear in either one group or both the groups at a time.
Articleship –
The Candidate who has cleared any of the two groups of the intermediate examination is qualified to get enrolled for Articleship and the practical training can be started as soon as any group or both group are cleared. While going through 3 years of compulsory training or Articleship, you start earning a stipend and can register for the CA finals in the last 6 months of Articleships by filling the CA Final exam form online.
CA Final Exam Papers –
Group 1:
Paper-1: Financial Reporting(100 Marks)
Paper-2: Strategic Financial Management (100 Marks)
Paper-3: Advanced Auditing and Professional Ethics (100 Marks)
Paper-4: Corporate and Economics law (100 Marks)
– Section A: Corporate Law
– Section B: Economic laws
Group 2:
Paper-5: Strategic Cost management and performance Evaluation (100 Marks)
Paper-6: Elective paper (100 Marks)
List of Elective Paper-
- Paper-6A: Risk Management
- Paper-6B: Financial Services and Capital Markets
- Paper-6C: International Taxation
- Paper-6D: Economic Laws
- Paper-6E: Global Financial Reporting Standards
- Paper-6F: Multidisciplinary Case Study
- Paper-7: Direct Tax Laws and International Taxation (100 Marks)
Part I: Direct Tax Laws
Part II: International Taxation - Paper-8: Indirect Tax Laws [100 Marks]
Part I: Goods and service tax
Part II: Customs & FT
After clearing both the groups of CA final course and undergoing 3 years of Articleship, which also involves four weeks of AICITSS you become a part of the ICAI family – ‘You become a CA.”
