Chartered Accountancy, Chartered accountant, institute of chartered accountants, accountancy jobs , Foundation Exam, institute of chartered accountants of india, chartered public accountant

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Chartered Accountancy

Educational Qualifications
CA course can be pursued in two ways. If you want to pursue the course after graduation, then you need to have a minimum degree of commerce with 50% marks. If you are a Science or Arts graduate, then you should have scored a minimum of 60% or more at the graduation stage, other graduates are eligible if they have an aggregate of 65% or more at the graduation stage.

Those who do not have the minimum entry required or who want to pursue the course immediately after their class 12th examination have to appear in the Foundation Exam conducted by the institute. Once they clear the examination, they can pursue the course by working with established CAs who are into the practice. This duration of their practical training is called articleship. Articleship makes the budding CAs aware of the practical aspects of their job. It involves maintaining books of accounts, going on auditing assignments, helping CAs in taxation matters, etc. At the same time they also have to study and clear examinations conducted by the institute. So the profession entails both practical training and theoretical education and knowledge.

Aptitude
Numerical proficiency, academic excellence, willingness to study extremely hard, time management, ability to see behind what is obvious, decision making, determination and self motivation are the key requirements to be successful in the profession.

Examination hurdle
The main entrance exam for CA is the Foundation Exam. The subjects include Accounting, Mercantile Law, Mathematics, Statistics and Economics. Once you have passed the CA Foundation exam, you are eligible to become a CA student under the ICAI. There are two stages after that. First is Intermediate and the second is Final. You have to clear both the stages to be called a professional CA. Once you pass out of the institute, you are called ACA or an Associate member of the institute. With additional experience, you become FCA or fellow member of the institute.

Job Prospects
CAs are highly paid professionals. The boom in the economy has led to further demand for the professionals. They are needed in all sectors and industries be it manufacturing, service, financial sector, capital market, banking etc. Today a fresh CA can expect a starting pay of Rs. 25000/- and more and it can go up to 50000/- within 2-3 years of experience. Most of the companies pay a very good premium to the qualification and offer incentives to retain the right people. Alternatively you can also join as a practicing CA. The pay and emoluments will depend upon the firm you join. One thing is for sure that with letters CA tagged after your name, there won’t be any dearth of good job opportunities for you.