If you are a class 12th student then along with preparing for the board exams you also have to deal with a really nagging question, the one that ends up defining your career and that is ‘What to do after 12th standard?’. While many students are confused and undecided about what they want to do after 12th, there are students who 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 in-depth talk about becoming a CA after 12th Board Exams and the whole process.
What is CA?
CA or Chartered Accountant is a designation given to an accounting professional who has received certification from a certified organisation that he/she is qualified to take care of the matters related accounting and taxation of a business, like file tax returns, maintain financial records, prepare and review financial reports and documents, audit 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 which regulates and maintains the profession of chartered accountancy in India. Under the Scheme of Education and Training, a CA Aspirant can attempt Chartered Accountancy Course either through, Foundation Course Route or 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.
About ICAI:
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
Procedure to Become a 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 admit card to appear the class 12th exams and attempt the CA after 12th board exam. For Foundation there are four subjects which you have to attend: Accounts, Law, Economics and Quantitative Analysis.
Foundation is the entry-level exam for CA course and it is followed by Intermediate and Final examination. Foundation exam, Intermediate exam & Final exams are conducted twice a year in May and November. Foundation is a 400 marks subjective exam which has 4 subjects and to clear that you have to score 40 marks in each and get an overall average of 50% or above.
Step 2: Register for Intermediate Course
In order to register for the Intermediate Course, the CA Aspirant must pass both Foundation and 12th class. Enrollment for the Intermediate should be done eight months earlier to the first day of the month in which exam is held. Intermediate is a 800 marks subjective exam which has 8 subjects and 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 have four 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. Articleship is a 3- year long internship which you have to finish along with the Final CA exam. In this, you have to work under a certified Chartered Accountant for 3 years. Articleship is an obligatory part of the Chartered Accountancy course. 3 Years of articled training will shape you into a true professional and the moment you become a Chartered Accountant, you will be a fresher but with 3 years of corporate experience. That means you not only possess the bookish knowledge but you are also aware of the workings in 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 in the last 6 months of articleship. Appear and qualify the final examination while serving the last six months of Articled Training. Enrol as a member of ICAI and get designated as “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 totally worth it because when you will become a CA, your professional life is guaranteed to be a success.
The wide vast world opens up to you with different opportunities from various sectors like Accounting, Cost Accounting, Taxation, Banking, Audit Management consultancy 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.
