If you are a class 12th student, then along with preparing for the board exams, you also have to deal with a nagging question, the one that ends up defining your career, and that is, “What to do after 12th class?” While many students are confused and undecided about what they want to do after 12th, some students have already decided about the future career they want to build, and the time after 12th class is a good place to start.
In this article, we will have an in-depth discussion about becoming a CA after 12th Board Exams and the whole process.
Table of Contents
What is CA?
CA, or Chartered Accountant, is a designation given to an accounting professional who has received certification from a certified organization that he or she is qualified to take care of matters related to the accounting and taxation of a business, like filing tax returns, maintaining financial records, preparing and reviewing financial reports and documents, and auditing financial statements and business practices. A Chartered Accountant is also qualified to offer consulting services to clients, which include companies and individuals.
Becoming a certified Chartered Accountant requires completing three levels of training designed by the Institute of Chartered Accountants of India. The ICAI is a statutory body that regulates and maintains the profession of chartered accountancy in India. Under the Scheme of Education and Training, a CA Aspirant can attempt the Chartered Accountancy Course either through the Foundation Course Route or the Direct Entry Route. CA Foundation Course is the entry point or first step into the course of CA after 12th class, while direct entry is for those who have finished their graduation.
In India, the Institute of Chartered Accountants of India (ICAI) is a statutory body of India regulating the profession of Chartered Accountancy in India. ICAI has achieved recognition as an accounting body for maintaining the highest standards in ethical and technical areas and also for sustaining examination and education standards. ICAI conducts CA exams and certifies a candidate as a qualified Chartered Accountant on successful completion of the three-level course.
Examinations conducted are:
- Foundation Examination
- Intermediate Examination
- Final Examination
How to become a CA (Chartered Accountant)?
To become a CA, applicants must follow the following steps:
- Enroll in the CA Foundation course after class 12th.
- Complete the CA Foundation course and register for the CA Intermediate course.
- Pass the CA Intermediate Exam and undergo Articleship training to gain practical experience.
- Register for the final CA course and pass the final exam.
Procedure to Become Chartered Accountant After Class 12th –
Step 1: Start Chartered Accountancy Course with Foundation Route
Enroll with the Institute of Chartered Accountants of India (ICAI) for the CA Foundation after getting an admit card to appear for the class 12th exams and attempt the CA after the 12th board exam. For Foundation, there are four subjects that you have to attend: Accounts, Law, economics, and Quantitative Analysis.
Foundation is the entry-level exam for the CA course, and it is followed by Intermediate and Final examinations. CA Foundation exam, Intermediate exam, and Final exam are conducted twice a year in May and November. The foundation is a 400-mark subjective exam that has 4 subjects, and to be clear, you have to score 40 marks in each and get an overall average of 50% or above.
You can check ICAI CA Foundation New Syllabus 2024
Step 2: Register for Intermediate Course
To register for the CA Intermediate Course, the CA Aspirant must pass both the Foundation and 12th classes. Enrollment for the Intermediate should be done eight months earlier than the first day of the month in which the exam is held. Intermediate is a 600-mark subjective and objective exam that has six papers.
To clear that you have to score 40 marks in each and get an overall average of 50% or above. Intermediate has 2 groups of subjects, and each group has three papers. If you score more than 60 marks in any subject, you get an exemption. So in case you fail, you don’t have to repeat that paper in the next attempt.
Step 3: Articleship
After studying and clearing the Intermediate exam, comes the Articleship training. Articleship is a 2 years-long training program that you have to finish along with the Final CA exam. In this, you have to work under a certified Chartered Accountant for 2 years. Articleship is an obligatory part of the Chartered Accountancy course. 2.6 years of articleship training will shape you into a true professional, and the moment you become a Chartered Accountant, you will be a fresher but with 2 years of corporate experience. That means you not only possess bookish knowledge but are also aware of the workings of a professional environment.
Step 4: Registration for CA Final Course
CA final exams are the last step in the whole process of becoming a professional Chartered accountant. The candidate can apply for the CA final examination after completion of 2 years of practical training. Appear and qualify for the final examination while serving the last six months of Articleship training. Enroll as a member of ICAI and get designated as a “Chartered Accountant.”
The Chartered Accountancy course is spread over a minimum period of 4.5 years, and it requires a significant investment of time and dedication. During these 4.5 years, only persistence and hard work can guarantee a fruitful outcome.
And yes, all the hard work is worth it because, when you become a CA, your professional life is guaranteed to be a success.
The wide, vast world opens up to you different opportunities from various sectors like Accounting, Cost Accounting, Taxation, Banking, audit management consulting, etc. all around the world.
The ICAI has a prestigious reputation all over the world and is a force to be reckoned with; hence, global opportunities await.
Students can register themselves for the CA online classes here.
What are the skills required to become a CA (Chartered Accountant)?
Becoming a successful CA requires the following skills:
- Strong financial ability and understanding of accounting principles.
Analytical and problem-solving skills are needed to resolve complex financial situations.
- Monitoring and detailing to ensure financial statements are accurate.
- Good behaviour and integrity to uphold professional standards.
- Good communication for clearly providing financial information.
- Time management to perform multiple tasks and meet deadlines.
- Adaptation and continuous learning to keep up to date with industry changes.
- Leadership and cooperation are necessary to be successful in management and cooperation projects.
Eligibility Criteria to Become CA after 12th
Before hopping onto CA course details after the 12th, let us first check the eligibility criteria for becoming a CA. Listed below are the eligibility criteria:
- The applicant must have cleared high school or 10+2 exam.
- A candidate who has cleared the entrance examination, foundation examination, or professional education is eligible for enrollment in the Accounting Technician Course (ATC)
- A person enrolled for intermediate/professional or intermediate/professional education is eligible for registration
- Students who have registered for Intermediate IPC course without ATC can also opt for this course.
How much time does it take to qualify as a CA?
- Duration to become a CA: Typically 4.5 to 5 years.
- CA Foundation course: Takes 4-6 months.
- CA Intermediate course: Requires 8-9 months.
- Articleship training: Minimum of 2.5 to 3 years.
- CA Final course: Takes 10-12 months.
- Factors influencing timeline: Exam attempts and Articleship duration may slightly impact the overall duration.
Some Tips for CA Aspirants
Aspiring CAs can follow these tips for a successful journey:
- Continue to study and practice regularly.
- Join a reputed coaching institute for guidance.
- Focus on improving weak areas and covering difficult topics.
- Stay up to date with changes in CA curriculum and laws.
- Maintain a work-life balance for optimal performance.
- Believe in yourself and maintain a positive attitude throughout the process.
Taking a Chartered Accountant (CA) course after completing 12th grade can open up a world of opportunities and benefits for you. The profession is highly respected and well paid, with the opportunity to eventually open your practice or join a reputable firm. However, becoming a chartered accountant is not easy, as it requires hard work and dedication.
By becoming a chartered accountant, you will get many benefits, such as job security, prospects, and professional respect, among others. The most important benefit that this course provides is financial stability, as CAs typically earn significantly higher average salaries compared to other professionals in similar fields.
Frequently Asked Questions
Q1: Is it mandatory to choose commerce in 12th to become a Chartered Accountant?
Ans: To become a CA, while commerce is a common choice, it’s not mandatory. Science and arts students can also pursue CA after meeting the requirements.
Q2: How long does it take to become a Chartered Accountant after 12th?
Ans: The duration varies but typically takes around 4-5 years, including graduation and CA course completion.
Q3: Are there age restrictions for aspiring CAs?
Ans: No, there is no age limit for pursuing chartered accounting.
Q4: Which degree is best for CA after 12th?
Ans: Any 10+2 (Science, commerce, or arts) graduate is eligible to be admitted to the CA program. Candidates for this course must be graduates or postgraduate students who have completed a three or four-year undergraduate program from a reputable institution.
Q5: Is maths compulsory for CA?
Ans: Mathematics is not compulsory for CA and is an excellent choice for commerce students who have not opted for Mathematics. To become a Chartered accountant, you must pass a three-level exam.