The Chartered Accountants are entrusted with substantial responsibility
under various legislations such as compulsory audit of the all companies, banks,
stock brokers, big income-tax assesses, large bank borrowers, etc.
This shows the confidence and trust reposed by the Government and society
in the profession. The society has
increasingly recognized the services of CAs in the entire gamut of management
consultancy services including management accounting, management information and
control system, international finance information technology and financial
services sector. The types of
functions generally performed by the Chartered Accountants are quite varied;
some of the important ones amongst them are listed below:
Accountancy: The writing up of accounts and the preparation of Financial
statements from the simplest receipts and payment Accounts of a small club to
the complex and detail accounts of large public limited companies.
Auditing: The purpose of
auditing is to satisfy the users of financial Statements that the accounts
presented to them are drawn up on Correct accounting principles and that they
represent a true and fair view of the state of affairs.
Taxation: The assessment of
taxes is closely linked to financial Accounts.
The Chartered Accountant with his experience in accounts is in an
advantageous position to prepare the returns for tax purposes, represent
assesses before the income tax authorities and render general advice on taxes to
his clients. The services of CA may
be requisitioned by the tax department for auditing taxation cases with large
Cost Accountancy: A
Chartered Accountant is equipped to provide information on costing for the
guidance of management, introduce cost
control methods and assist the management in determining
appropriate selling prices.
Special Company Work: The
services or advice of Chartered Accountants are frequently sought in connection
with matters such as the formation, financial structure and liquidation of
Accountants are often called upon to carry out investigation to ascertain the
financial position of business house for the purpose of issue of new shares,
purchase or sale or financing of business, finding out reasons for increase or
decrease of profits, reconstruction and amalgamations.
Executors and Trustees: A
Chartered Accountant is also often appointed executor under a will or trust in
order to carry on the administration of the estate or settlement.
Directorship: Many members
of the Institute who hold senior positions in industry and commerce are also
directors of their companies.
Companies Secretarial Work: As
a Secretary, the Chartered Accountant is an important link in the management
Management Accounting: The
Chartered Accountant’s service is utilized in a variety of ways like
formulation of policies, control and performance evaluation.
Share Valuation Work: A
Chartered Accountant undertakes the valuation of shares of public and private
companies at the time of amalgamation or reorganization.
Other Activities: Other
duties undertaken by a Chartered Accountant includes those of an Arbitrator for
settling disputes specially those
connected with insolvency work such as the preparation of statements of affairs
and the duties of a trustee in bankruptcy or under a deed of arrangement.
To be good Chartered Accountant, you require not just business acumen and
numerical ability, but good communication skills, objectivity, independence of
thought and integrity coupled with the ability to work under the pressure of
person who desires to be a Chartered Accountant has to be a member of the
Institute of Chartered Accountant of India, Indraprastha Marg, New Delhi-110002.
The Institute was established in 1949 under the Chartered Accountants
Act, 1949 and is governed by a Council in accordance with the Chartered
Accountants Regulations , 1988.
order to be a Chartered Accountant,
one has to follow the courses of study , as below:-
One can enter the Chartered Accountancy course by joining Professional
Education course. This course
is available in two parts – I.e. (A) Professional Education (PE Course I) and
(B) Professional Education (PE Course II).
PE Course I is compulsory for students joining after 10+2 and Graduates
with less than specified marks. Candidates who are graduates with more than
specified marks or those who have passed the Final examination of the Institute
of Cost and Works Accounts of India (I.C.W.A.I)
or the Institute of Company Secretaries of India (I.C.S.I.) are exempted
from PE Course – I.
PE Course – II is compulsory for all irrespective of the fact whether
one is coming through PE Course-I stream or is exempted from PE Course-I.
The term graduate does, however, not cover a graduate in music, dancing,
photography, paining and sculpture.
PROFESSIONAL EDUCATION ( COURSE –I)
minimum duration of the course is ten months.
The registration for Professional Education (Course- I ) is open
throughout the year.
*** The eligibility/conditions for this course are as follow:-
Pass in Senior Secondary Examination (10+2) or equivalent
(b) There is no restriction with regard to the age of the candidate or marks secured in Senior Secondary Examination or subjects studied.
Following graduates who have secured less than specified
(i) Commerce graduates with Accountancy, Auditing and Mercantile Law or Commercial Law as full examination paper. For this purpose “full examination paper” means a paper carrying out less than 50 marks.
(ii) Non-commerce graduates with Mathematics as one of the subjects and with less than 60% of the total marks.
(iii) Non-commerce Graduates with subjects other than Mathematics and with less than 55% of the total marks.
Candidates who have appeared in 10+2 or its equivalent examination
are eligible for “Provisional Registration” for Professional Education
(Course – I).
student may register at any time during the year.
The examinations are held twice a year in May and November.
A student should get himself/herself
registered at least ten months before the examinations.
For May Examination he/she should, therefore, be registered before 30th
June of the preceding year and for November Examination he/she should be
registered before 31st December of the preceding year.
The subjects of study for the Professional Education (Course-I) are:
Fundamentals of Accounting, Mathematics and Statistics, Economics, Business Communication and Organization and Management.
The purpose to study the above mentioned
To develop conceptual understanding of the fundamentals of the Financial Accounting and the Mechanism to impart basic skills in Accounting of various kinds of business transactions.
To provide basic understanding of important qualitative tools and their
elementary application on business problems.
To provide basic understanding of important quantitative tools and their elementary application to business problems.
To develop written and oral communication
skills and facilitates understanding of various concepts and functions of organization
and management relevant to a professional accountant.
Students of PE-I Course are covered under
Postal Test Scheme. The
comprehensive study papers and test papers booklets are, therefore, made
available to students for study. Students
have to submit answers to the specified number of test papers and obtain the
minimum qualifying marks.
Students who attend classes which
are organized by Accredited
Institutions and satisfy the relevant requirements, are exempted from answering
the test papers.
EDUCATION ( EXAMINATION –I )
For passing this examination a student needs :-
i) to obtain at one sitting a minimum of 40% marks in each paper.
ii) a minimum of 50% of the total marks of all the papers.
iii) to pass this examination within five consecutive attempts.
PROFESSIONAL EDUCATION ( COURSE –II)
The minimum duration of this
course is ten months.
After completing the Professional Education (Course-I), a candidate has
to join Professional Education Course –II.
The eligibility requirements for admission to this course are as follows:
A pass in the Professional Education (Examination-I).
b) A pass in the Chartered Accountant
Foundation Examination CA Regulations, 1988.
c) Graduates with the following conditions are also eligible:-
i) Commerce graduates with Accountancy, Auditing and Mercantile Law or Commercial law as full papers and with a minimum 50% marks of the total marks (Full paper means a paper carrying not less than 50 marks).
ii) Non-commerce graduates with Mathematics as one of the subjects and with minimum 60% of the total marks.
iii) Non-commerce graduates with subjects other than Mathematics and with minimum 55% of the total marks.
iv) Candidates who have passed the Final Examination of the Institute of Cost & Works Accountants of India ( ICWAI ) or the Institute of Company Secretaries of India (ICSI ).
Candidates who have appeared in the above mentioned examinations are also
eligible for “Provisional Registration” for this course.
The subjects of study for the professional Education ( Course-II ) are:
Group – I
Auditing, Business and Corporate
Group – II
Cost Accounting and Financial Management, Income Tax and Central Sales Tax,
The purpose of studying the above mentioned subject is:
To lay a theoretical foundation for the preparation and the presentation
of financial statements and to develop an understanding of the rules of
measurement and reporting relating to various components of financial statements
required for a professional accountant.
To gain working knowledge of generally accept4ed auditing
procedures and of techniques and skills needed to apply them in audit and
and Corporate Laws :
To gain knowledge about those branches of laws relating to business
transactions, certain corporate bodies and related matters and their application
to practical commercial situations.
Accounting and Financial Management :
To gain an understanding of costing concepts and the detailed procedure and
documentation involved in cost ascertainment systems and various basic concepts
of decision making process in the financial management.
Tax and Central Sales Tax:
To gain knowledge of the basic principles and understanding of the
substantive provisions of the Income Tax law and their application in the
computation of income of an individual under various heads of income and to gain
working knowledge of the basic principles of Central Sales Tax also.
To develop understanding and appreciation of broad nature and application
of information technology.
For Professional Education Course –II, the requirements of Theoretical
Course-II, the requirements of Theoretical Education are similar to those
applicable for Professional Education (Course-I).
Students of this course are covered by Sunday Test/Postal Test Scheme
depending upon their place of stay.
Students covered by both Schemes are required:
i) answer ten papers, choosing at least one test paper in each of the eight subjects and two additional papers of their choice.
ii) the qualifying percentage of
marks is 45% for each subjects.
iii) to pass Professional Education (Examination-II) within five consecutive
EDUCATION (EXAMINATION –II )
passing this examination a student
Can appear either in both groups simultaneously or one group
in one examination and in the other group at any subsequent examination
but he has to pass both the groups.
ii) Securing at one attempt
a minimum of 40% in each paper of the group and 50% in the aggregate of all the
papers of that group will be declared to
have passed in one group.
Similarly declared to have passed in both groups simultaneously if he secures at
one sitting, a minimum 40% marks in each paper of each of the group and an
aggregate of 50% of all the papers of each of the
groups or a minimum of 40% in each paper of both the groups and 50% in
the aggregate of all the papers of both groups taken together.
There is a scheme of accreditation of colleges affiliated to recognized
Universities and Schools affiliated to CBSE or other equivalent State Boards.
Several Colleges, Schools and other institutions in different parts of
the country have been accredited. Under
this Scheme, such institutions organize classes for the benefit of Professional
Education (Courses I & II) students.
Students attending such classes are exempted from answering test papers
under the postal tuition Scheme but (i) they have to satisfy the requirements of
minimum attendance of 75% of the classes in each subject and (ii) secure a
minimum of 45% marks in each subject in the final test conducted by such
Students are allowed to opt for Hindi Medium for answering question
papers. The option is available for
all the papers of the examination. Paper-wise
option is not allowed.
for Professional Education Course:
Students of the Professional Education (Course-I) and (Course-II) have to
forward their applications in the prescribed form along with the prescribed fee
through Demand Draft drawn in favour of The Secretary, Institute of Chartered
Accountants of India payable at New Delhi, Mumbai, Kolkata, Chennai, Kanpur as
the case may be. The different
offices of the Institute are located in different regions as shown in
Students are required to attend and successfully complete at least 250
hours of Computer training prior to the commencement of practical training of
three years. One can undergo such a
training along with his Professional Education (Course-I) and/or (Course-II).
of Articled Clerk
The Articled Clerk is a trainee attached to a practicing Chartered
After passing the Professional Education (Examination-II) one can register as an ‘Articled Clerk’ for practical
training and for admission to the Final Course of the Chartered Accountancy.
for Articled Clerk:
A candidate is eligible for admission to articleship if
- he is not less than 18 years of age on the date of commencement of articleship.
- he has passed the Professional Education Examination –II and
- has successfully completed the computer training programmes as prescribed in the earlier paragraph.
A candidate who has passed the Foundation Examination (as per the old
scheme) is also eligible for registration as an Articled Clerk till 31st
December, 2003. Such candidates are
required to pass Professional Education –II)
during the practical training and are entitled to appear in the Final
Examination during last six months of practical training.
An Articled Clerk who has completed the practical training and passed the
Final Examination is also required to attend a Programme on General Management
and Communication Skills.
The subjects for study in the Final CA course are as follows:
Advanced Accounting, Management Accounting and Financial Analysis,
Advanced Auditing, Corporate Laws and Secretarial Practice
Cost Management, Management Information and Control Systems, Direct
Taxes, Indirect Taxes
Practical training provides an opportunity to students to acquire on the
job work experience of a professional nature.
He learns the skill of profession while working with a practicing
Chartered Accountant and also works as a Industrial trainee for about one year
in an approved industrial establishment during the last year of practical
training. Students of Final
Chartered Accountancy course are eligible for industrial training.
An Articled Clerk is entitled to receive monthly stipend as per the rates
specified from time to time. Minimum
rate of monthly stipend depends on the place of services of the articled clerks.
The rate details of the current year i.e. 2002, are as under:
having population of less than 3 lakhs
having population of 3 lakhs and above but less than 20 lakhs
having population of 20 lakhs and above
passing the intermediate or the Professional Education (Examination-II) an
Articled Clerk also get additional stipend of Rs.300 during the articleship.
After qualifying the Final
Examination of Chartered Accountants, one becomes eligible for admission as a
member of the Institute. Such a
person is, thereafter, recognized as “Associate Member” of the Institute.
A person who is an Associate Member and is in continuous practice for
minimum five years and possesses the experience prescribed is entitled for
A member desirous of practicing as a Chartered Accountant is required to
obtain a Certificate of Practice from the Institute.
Campus interviews for freshly qualified Chartered Accountants are
organized by the Institute at various Centres viz. Bangalore, Kolkata, Chennai,
Kanpur, Mumbai and New Delhi. The
scheme has been evolved to provide an opportunity to employing organisations as
wello as yuoung professional aspirants to interact and explore the possibility
of taking up positions in industry.
Chartered Accountants have various options for pursuing rewarding career.
Some of the available options are:-
Set up independent professional practice.
Join a practicing firm of Chartered Accountants.
Render services in the field of capital market.
Engage in your own industrial/business venture.
Take up a suitable position in business or industry.
The choice depends largely on your personal inclination.
First four choices indicated above offer good opportunity for development
as a useful member of the professional and the society, ensuring amongst others,
economic reward and scope for self-fulfilment.
Starting one’s own industrial or business venture is also now becoming
popular among Chartered Accountants. The
Institute currently has about 1,00,000 members, 70%of whom are in public
practice and remaining are engaged in trade and industry.
Chartered Accountants are appointed Trustees and Executors, under a Will or Trust, to carry on the administration of an estate or settlement in collaboration with solicitors or lawyers. They act as administrators and receivers custodians and arbitrators on accounts and financial matters. Many in due course have risen to occupy managerial and senior executive posts of responsibility, like Chief Accountant, Financial Advisor, Internal Auditor, General Manager, Company Director etc. Nevertheless most Chartered Accountants concerns are normally advertised. Most employers also notify junior-level vacancies to Employment Exchanges. Better paid Government posts are filled through the Union and State Public Service Commissions.
Joint Secretary, The Institute of Chartered Accountants of India,P.O.Box
7100, Indraprastha Marg,New Delhi 110 002.
Himachal Pradesh, Jammu & Kashmir, Punjab, Delhi and Union Territory
Joint Director of Studies, Western India Regional Council, The Institute
of Chartered Accountants of India, Anveshak-27 cuffe Parade, Colaba,
Maharashtra, Goa and the Union Territories of Daman & Diu and Dadar
& Nagar Haveli.
Deputy Secretary, Southern India Regional Council, The Institute of
Chartered Accountants of India, 122 M.G. Road, Post Box No.-3314, Nungambakkam, Chennai – 600 034.
Pradesh, Kerala, Karnataka, Tamil Nadu and the Union Territories of
Pondicherry and Lakshadweep Islands.
The Deputy Secretary,
Eastern India Regional Council, The Institute of Chartered Accountants of
India,7, Russel Street,Kolkata-700 001.
Nagaland, Orissa,West Bengal. Manipur, Tripura, Sikkim, Arunachal Pradesh,
Mizoram and Union Territory of Andaman-Nicobar Islands.
Secretary, Central Indian Regional Council, The Institute of Chartered
Accountants of India, Post Box No.-314, 26/77-B, Kanpur Civil Lines,
Uttar Pradesh, Bihar,
Madhya Pradesh, Rajasthan Uttranchal & Jharkhand