Chartered Accountant (CA) exams are rigorous professional assessments required to obtain the CA designation. These exams typically consist of multiple levels, including foundational, intermediate, and final stages, covering subjects such as accounting, auditing, taxation, financial management, and business law. Administered by professional bodies like ICAI, ACCA, or AICPA, the CA qualification process also involves practical training or internships.
Successfully passing these exams demonstrates expertise in financial reporting, compliance, and strategic financial planning. Chartered Accountants play crucial roles in businesses, providing essential financial insights, ensuring regulatory adherence, and supporting organizational growth and decision-making.
The Chartered Accountancy (CA) exams are conducted by the Institute of Chartered Accountants of India (ICAI). The exams are structured across three different levels- CA Foundation, CA Intermediate, and CA Final.
After passing these exams one can gain the ICAI membership and esteem designation of Chartered Accountant (CA).
What is the ICAI CA Exam?
The ICAI CA Exam, organized by the Institute of Chartered Accountants of India (ICAI), is a certification process for aspiring Chartered Accountants. This esteemed qualification is given to individuals who complete a demanding training program and meet the challenging criteria set by ICAI.
Chartered Accountants (CAs) are vital in the world of finance and accounting. They possess advanced skills and in-depth knowledge in accounting, finance, auditing, and taxation. Recognized for their ethical standards, integrity, and adherence to professional norms, CAs play a significant role in ensuring financial accuracy and compliance for businesses and individuals alike.
ICAI Exam 2024 Overview
The ICAI CA Course is all about three different levels: CA Foundation, CA Intermediate, and CA Final. All year-round registration is available for CA Exams, but every session has its specific deadlines, which are announced by the ICAI from time to time. Check the following table for more information on ICAI CA Exam 2024:
| Particulars | Details |
|---|---|
| Exam Name | CA or Chartered Accountancy |
| Conducting Body | Institute of Chartered Accountants of India – ICAI |
| Exam Conducting Level | National |
| Frequency | Conducted twice a year |
| Exam Mode | Online/Offline |
| Exam Duration | 3 hours |
| Language | English |
| Age Limit | No upper age limit |
| Exam Levels | 3 (Foundation, Intermediate & Final) |
| Course Duration | 4.5 to 5 years via the Foundation route (after the 12th) 3 years (Approx.) via Direct Entry after graduation |
| Eligibility Criteria | Must be 12th Pass for CA Foundation |
| Number of Test Cities | 192 Indian cities and 8 abroad cities |
| Official Website | icaiexam.icai.org |
| Exam Helpdesk Number | 1800 419 2929 |
Exam Schedule 2024:
The ICAI CA Exam Schedule for 2024 outlines key dates for all three levels of the Chartered Accountancy course: CA Foundation, CA Intermediate, and CA Final.
- CA Intermediate and CA Foundation exams are held thrice a year in May/June, September, and January. For 2024, the exams for both CA Intermediate and CA Foundation are scheduled for September.
- CA Final is conducted twice a year, in May and November. In 2024, the CA Final exams are set for November.
This comprehensive guide will give you a detailed overview of the CA exams.
ICAI CA Course
The CA course offered by the ICAI opens up different professional opportunities. CA is highly known for its expertise in different financial and accounting domains. They work in public or private organizations. They also have the option to start their private practice or work within companies.
Career Opportunities for Chartered Accountants:
- Audits and Assurance: Conducting audits to ensure accuracy and compliance with regulations.
- Tax Counseling: Advising on tax planning and compliance to optimize financial performance.
- Accounting Services: Managing financial records and reports for businesses.
- Outsourcing of Accountants and Finance: Providing outsourced accounting and finance services to organizations.
- Financial Reporting: Preparing and analyzing financial statements to inform stakeholders.
Check the table below for more information on the ICAI CA Course:
| Particulars | Details |
|---|---|
| Course Name | Chartered Accountancy |
| Degree | Certification |
| Conducting Body | Institute of Chartered Accountants of India (ICAI) |
| Course Routes | Foundation Course or Direct Entry |
| Eligibility | Foundation Route: After Class 12 Direct Entry Route: Graduation |
| Areas of Employment | Audit, Taxation, Banking, Finance, Management, etc. |
| Job Profiles | Accountant, Finance Manager, Accounting Manager, Business Analyst, Chartered Engineer |
| Top Recruiters | KPMG, Deloitte, Ernst & Young (EY), Lodha & Co., PriceWaterhouseCoopers (PWC), etc. |
Levels of ICAI CA Exams
The Institute of Chartered Accountants of India (ICAI) conducts the Chartered Accountancy (CA) exams in three distinct levels. Each level is designed to test different aspects of knowledge and skills required for a successful career in accounting and finance.
CA Foundation Exam
The CA Foundation Exam is the first stage in the Chartered Accountancy journey. This exam tests fundamental knowledge and is designed for students who are beginning their CA studies. Students can register for the CA Foundation Exam after completing their Class 10 examinations. However, they are eligible to appear for the exam only after completing their Class 12 examinations. It is conducted thrice a year.
CA Intermediate Exam
The CA Intermediate Exam represents the second level in the Chartered Accountancy course and is a step up in complexity from the Foundation level. This level delves deeper into accounting and finance concepts, preparing students for more advanced topics and practical applications. The CA Intermediate Exam is divided into two groups. Students can qualify for the CA Intermediate exam if they have successfully passed the CA Foundation exam, or Completed a graduate degree (Direct Entry Route).
CA Final Exam
The CA Final Exam is the final and most advanced stage in the Chartered Accountancy course, marking the conclusion of the journey to becoming a Chartered Accountant. The CA Final Exam assesses comprehensive knowledge and expertise in advanced accounting, auditing, and strategic financial management. It prepares students for the highest level of professional practice in the field. Students must have completed both levels of CA Intermediate or they can register for the CA Final Exam during their articleship period.
ICAI CA Foundation Exam Dates 2024
The ICAI CA Foundation Exam is conducted three times a year.
CA Foundation Exam Dates 2024
Check the following table for more details on CA Foundation Exam Dates 2024:
| CA Foundation Papers | CA Foundation Exam Dates |
|---|---|
| Paper 1 | September 13, 2024 |
| Paper 2 | September 15, 2024 |
| Paper 3 | September 18, 2024 |
| Paper 4 | September 20, 2024 |
After the September session June session will follow up. Check the dates for June Session 2024:
| Events | September 2024 Dates |
|---|---|
| Availability of Exam Form | July 28, 2024 |
| Deadline for Filling the Exam Form Without Late Fee | August 10, 2024 |
| Deadline for Filling Out Exam Form With Late Fee (Rs. 600) | August 13, 2024 |
| Correction Window | August 14 to 16, 2024 |
| Availability of Admit Card | Around 10 days before the exam |
| CA Foundation Exam Dates | September 13, 15, 18, 20, 2024 |
| Announcement of CA Foundation Result | November 2024 (expected) |
CA Intermediate Exam 2024
The ICAI CA Intermediate Exam is conducted twice annually and is divided into two groups. Check the table for the CA Intermediate Exam 2024 dates:
| Papers | CA Intermediate Exam Dates |
|---|---|
| Paper 1: Advanced Accounting | September 12, 2024 |
| Paper 2: Corporate Laws | September 14, 2024 |
| Paper 3: Taxation | September 17, 2024 |
| Paper 4: Cost and Management Accounting | September 19, 2024 |
| Paper 5: Auditing and Ethics | September 21, 2024 |
| Paper 6: Financial Management and Strategic Management | September 23, 2024 |
CA Final Exam 2024
The CA Final level consists of two groups, each with four papers. Check the following table for more CA Final Exam dates 2024:
| Paper | CA Final Exam Dates |
|---|---|
| Paper 1: Financial Reporting | November 1, 2024 |
| Paper 2: Advanced Financial Management | November 3, 2024 |
| Paper 3: Advanced Auditing, Assurance & Professional Ethics | November 5, 2024 |
| Paper 4: Direct Tax Law & International Taxation | November 7, 2024 |
| Paper 5: Indirect Tax Laws | November 9, 2024 |
| Paper 6: Corporate and Economic Law Strategic Cost & Performance Management |
November 11, 2024 |
Eligibility Criteria
Each level of the ICAI CA Exam has different eligibility criteria:
- For CA Foundation Level: Students must have completed Class 12 or an equivalent examination from a recognized board, with a minimum score of 50% marks.
- For CA Intermediate Level: Students can either follow the CA Foundation route or the Direct Entry route. Under the CA Foundation route, candidates must achieve an overall score of 50% in the CA Foundation exam and secure at least 40% in each subject. Alternatively, graduates can enter directly into the CA Intermediate Level, provided they have obtained 55% marks if they are from a commerce background or 60% if they are from a science background.
- For the CA Final Exam: Students must pass both groups of the CA Intermediate exam and complete a minimum of 2.5 years of articleship training under a certified firm. These criteria ensure that candidates possess the necessary academic knowledge and practical experience to succeed as Chartered Accountants.
CA Exam Syllabus
Check the detailed ICAI CA Syllabus for all the three different levels in the following table:
| CA Exam Level | Subjects | Marks |
|---|---|---|
| CA Foundation | Paper 1: Accounting | 100 |
| Paper 2: Business Law | 100 | |
| Paper 3: Quantitative Aptitude | 100 | |
| (A) Business Mathematics | ||
| (B) Logical Reasoning | ||
| (C) Statistics | ||
| Paper 4: Business Economics | 100 | |
| Total | 400 Marks | |
| CA Intermediate | Paper 1: Advanced Accounting | 100 |
| Paper 2: Corporate and Other Laws | 100 | |
| Paper 3: Taxation | 100 | |
| (A) Income Tax Law | ||
| (B) Goods and Service Tax | ||
| Paper 4: Cost and Management Accounting | 100 | |
| Paper 5: Auditing and Ethics | 100 | |
| Paper 6: Financial Management and Strategic Management | 100 | |
| (A) Financial Management | ||
| (B) Strategic Management | ||
| Total | 600 Marks | |
| CA Final | Paper 1: Financial Reporting | 100 |
| Paper 2: Advanced Financial Management | 100 | |
| Paper 3: Advanced Auditing, Assurance and Professional Ethics | 100 | |
| Paper 4: Direct Tax Laws & International Taxation | 100 | |
| Paper 5: Indirect Tax Laws | 100 | |
| Paper 6: Integrated Business Solutions | 100 | |
| (A) Corporate and Economic Laws | ||
| (B) Strategic Cost & Performance Management | ||
| Total | 600 Marks |
What is ICAI?
The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament, viz. The Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation and development of the profession of Chartered Accountants in the country. The Institute functions under the administrative control of the Ministry of Corporate Affairs, Government of India. The ICAI is the largest professional body of Chartered Accountants in the world, with a strong tradition of service to the Indian economy in the public interest.
Why one should study ICAI CA?
There are many reasons to pursue Chartered Accountancy in India. Apart from being the most challenging professional course, its rewards make it an excellent choice for one’s career.
- Chartered Accountants are always in demand across banks, corporations, and financial organizations, ensuring ample job opportunities.
- CA certification allows you to open your auditing firm and provide specialized services.
- Experienced CAs can earn up to INR 75,00,000 per annum, while less experienced candidates typically earn between INR 5,00,000 and INR 25,00,000.
- The rigorous nature of the CA exams and the high standards required to succeed make it a highly respected profession.
- With a CA qualification, you can work in various sectors, including government and private, or run your own business.
How you can become a CA in India?
To become a Chartered Accountant (CA) in India involves different steps:
- Get a Degree: First, of all get a commerce or accounting degree from a recognized university.
- Enroll with ICAI: Register with the Institute of Chartered Accountants of India (ICAI) and complete the CA professional education program.
- Clear the Exams: Successfully pass the CA Foundation, Intermediate, and Final examinations conducted by ICAI.
- Complete Practical Training: Undertake a minimum of three years of practical training under a qualified Chartered Accountant.
CA Exams
The Chartered Accountancy (CA) exam is a key qualification test overseen by the Institute of Chartered Accountants of India (ICAI). It is divided into two main parts:
- Written Exam: This includes four papers covering different areas of accounting. These exams are held twice a year, in May and November.
- Practical Exam: This includes two papers that test practical skills. It is held once a year, in November.
The CA exams are challenging, so it’s important to prepare well. You can use books, online resources, and courses to help you get ready.
Direct route for CA
The direct route offers an alternative path to becoming a Chartered Accountant without needing to complete a bachelor’s degree. To qualify for this route, you must meet the following requirements:
- Educational Qualifications: You need to have at least a Master’s degree, CS Executive qualification, or CMA Intermediate level.
- College Coursework: Complete 150 semester hours of college-level coursework.
- Uniform CPA Examination: Achieve a passing score on the Uniform CPA Exam.
- Bonus Point: Even non-commerce graduates can pursue CA courses if they have a minimum of 60% aggregate marks from a recognized institution.
Although this route can be quicker, it’s important to be well-prepared for the CA exams. It’s a good idea to consult with a qualified Chartered Accountant to see if this route is suitable for you.
How to apply for CA Exams?
Students wishing to apply for the CA Foundation exams can do so through the official ICAI website by following these steps:
- Go to the ICAI e-service portal and provide the required information. Click on the “Generate OTP” button to receive a One-Time Password (OTP) on your registered email and phone number.
- Use the OTP to finish the registration process, after which you will receive a Registration Number (SRN).
- If you don’t already have an SSP (Self-Service Portal) login, click on “Don’t have a login to SSP yet,” enter your SRN and date of birth (DOB), then click “Validate.”
- Once validated, you’ll receive login credentials via email and SMS. Use these credentials to log in.
- Go to the “Exam Function,” select the “Register for Exam” tab, and choose “Foundation Exam Form.” Review the guidelines, fill in the necessary information, and update your photo and signature.
- After filling out the form, click “Next,” check the “Agree” box on the declaration page, and proceed to the payment section.
- Pay the exam fee of INR 1500. After completing the payment, your exam application will be successfully submitted. Download the exam receipt for your records.
What does a CA do?
A Chartered Accountant (CA) is a professional who provides essential financial services to both businesses and individuals. Here’s what a CA typically does:
- Conducts thorough reviews of financial statements to ensure accuracy and compliance with regulations.
- Assists with preparing and filing tax returns, and provides advice on tax planning and strategies.
- Offers guidance on managing finances, investments, and planning for future financial goals.
- Ensures businesses adhere to government regulations and accounting standards.
CA Salary Overview
The salary of a Chartered Accountant (CA) varies widely, typically ranging from INR 2.0 lakhs to INR 14.1 lakhs per year. Factors such as location, company size, and experience influence these figures.
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