Subjects Required To Become Chartered Accountant in India

 

Chartered accountancy, a program for commerce students after 10+2. It comes under the most liked and difficult field. Being a CA is a dream of many students but some of them are able to achieve their dreams and their goals. To develop the overall knowledge of the student or let them be a grown knowledge personality is the main objective or motive of any educational board, similarly in CA too.

In CA Class or subject, there are certain types of subjects i.e., CA Foundation, CA Intermediate-1, CA Intermediate-2, CA Final-1, and CA Final-2. According to these subjects, students prepare for revised syllabus and the board prepares exam patterns.

Act settled for CA Classes is ICAI (The institute of chartered accountants of India). This act is settled up by parliament in 1949 on 1^st July under the ownership of the Ministry of Corporate Affairs, Government of India.

 

CA When Schooling

 

Preparation of career starts in schooling itself, some of the students are very serious about it i.e., in class 9^th and some get serious about it in senior secondary i.e., 11^th. But when you come in 11^th, you have to choose between the three subjective fields i.e., science stream, commerce stream, and arts stream. Business-oriented brainly students and accountancy lovers choose the commerce stream. Whosoever wants to pursue CA goes with commerce.

 

Various CA subjects to choose

 

When a commerce streamed student comes to college, he/she choose different commerce-related fields like BCA, B.com, CA. Even after completing B.com or something like it, some student starts their career in CA as their basics in accounting gets stronger and a ray of self-confidence rises from them.

In CA Class, (when in college) you came up with some subjects that are required in this field.

1. Mathematics

2. Accounting and Taxation

3. Financial Accounting

4. Banking and Finance

5. Insurance and banking

6. Banking Management

7. Applied Economics

8. Business Economics

9. Insurance Management

10. Tax Procedure and Practice

11. Information Technology

12. Computer Application

13. Advanced Accountancy

14. Accounting and Finance

15. Information Technology and its Application in Business

 

CA Foundation Subjects

 

The CA Foundation Course is the entry-level for the chartered accountancy course offered by the Institute of Chartered Accountants of India (ICAI). The candidate can register for CA Foundation after passing the Class-X board exam and appear in the foundation exam after qualifying for the 12th examination. ICAI has allowed provisional registration for 10th class passed students.

CA Foundation test comprises the following four papers:

1.    Principles and Practice of Accounting.

2.    Business Laws & Business Correspondence and Reporting.

3.    Business Mathematics, Logical Reasoning & Statistics.

4.    Business Economics & Business and Commercial Knowledge.

 

The first two papers are subjective while the latter two are objective. The 4 paper consists of 100 marks for each exam i.e., subtotal of 400 marks for all exam.

A candidate has to register for CA Foundation Course by filling up the online registration form available on the ICAI website. The last date for registration is December/June for May/Nov terms of examination. Registration to the CA Foundation course is valid only for three years.

 

CA Intermediate Subjects

 

CA Intermediate is the second level exam, of a course in India, Chartered Accountancy. It has eight subjects and over 7000 pages of study material that a student is expected to cover in the nine months study period allotted to them. The group system is what makes this exam even more difficult, as a group consists of four subjects, and a candidate has to pass all four papers in order to clear the group. Failure to pass in one subject immediately results in the failure of the entire group, which would mean that the student fails in the subjects in which he has passed.

 

It is a complete subjective paper pattern for 4 papers and combined subjective & objective (70:30) for the rest 4 subjects. Eight subjects and two groups consisting 800 marks. Subjects are given as follows:

 

MODULE 1

 

1.    Accounting

2.    Corporate and other Laws

3.    Cost and Management Accounting

4.    Taxation

 

MODULE 2

 

1.    Advance Accounting

2.    Auditing and Assurance

3.    Enterprise Information System and Strategic Management

4.    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 groups at a time.

 

Exam for the CA Intermediate is held twice a year, generally in the first week of May and November.

 

CA Final Subjects

 

There are 2 groups in CA final exam. Final – 1 and Final – 2.

There are 4 subjects in each of them. So, there is a total of eight subjects in the CA final exam.

According to the new scheme of training and education by ICAI in the CA final exam, this is the revised syllabus:

 

• Paper-1: Financial Reporting

• Paper-2: Strategic Financial Management

• Paper-3: Advanced Auditing and Professional Ethics

• Paper-4: Corporate and Economic Laws

• Paper-5: Strategic Cost Management and Performance Evaluation

• 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

• Paper-8: Indirect Tax Laws