Chartered Accountant after Graduation

How to become a CA after Graduation in 2020?

SOURCE: Ur IndianConsumer

An aspiring Chartered Accountant first has to attempt CPT and then IPCC. However, if a person has completed their graduation, they do not have to take the CPT exams. They can appear directly for the IPCC exams. This is known as a Direct entry program and is open for graduate students.

CA Course after Graduation

Chartered accountancy has become one of the most popular career choices, especially among commerce students. It can be done after 12th whenever the candidate wants to. They can pursue it right after the 12th or after graduation or after post-graduation. Many prefer to do it after graduation.

  • Candidate can get direct entry and not have to appear for CPT.
  • The course duration in which it can be completed if cleared in one attempt is around 3- 3.5 years.
  • On top of that, the student already has a fully completed Bachelor’s degree that they do not have to worry about.
  • They can directly appear for IPCC exams.
  • Prospective candidates can register for Articleship even in the last year of college and can save time.

Eligibility for CA after Graduation

  • Candidates having completed graduation/ post-graduation from commerce need to have a minimum of 55%.
  • Other graduates/post graduates need a minimum of 60%.
  • Candidates must register 9 months prior to the exam.
  • They must complete 100 hours of Information Technology training before doing Articleship.
  • 35 hours of the orientation program is mandatory too.
  • A total of 3 years of Articleship is a must for final completion of course.

How to become CA after Graduation

Pursuing CA right after 12th takes a minimum of 4.5 years. However, through the direct entry program, it takes 3 years after graduation provided one clears all exams in one attempt. After graduation, the aspirant doesn’t have to give CPT. They have to do an Articleship. After doing that for a minimum duration of 9 months, the candidate is eligible to appear for IPCC.

CA Admission Procedure after Graduation

  • Candidates have to fill the admission form and submit to ICAI. They can do the same online as well.
  • They have to submit a copy of the mark sheets.
  • Registration fees must be paid. While submitting online, Rs 100 is exempted from the total fees.
  • IPCC is generally held twice a year, around November and April. One must register 9 months before the IPCC.
  • ITT and orientation program must be completed before doing Articleship.
  • Before IPCC, Articleship of at least 9 months is a must.

Also Read: CA Subjects

CA after Post-Graduation

CA after post-graduation is the same as CA after graduation. CPT can be exempted and candidates can directly appear for IPCC. All the eligibility criteria and procedure are the same as that for graduate students.

CA Registration after Graduation

Since graduate students are exempt from CPT, they have to directly register for IPCC.

  • The registration fee for direct entry is Rs 15000. The student activities fee is Rs 2000 and the registration fee as an articled assistant is Rs 1000. The total registration fee is Rs 18000.
  • Registration must be done at least 9 months before the date of the exam. 
  • In case of late registration, a late fee is applicable.
  • Visit www.icai.org for registering. Create a new member account, log in, fill all the details, upload the documents, and pay the fee.

Examination to become CA after graduation

Candidates still have to clear many exams to finally become a CA. All the exams described below.

IPCC or Intermediate Integrated Professional Competence Course

To pass IPCC, candidates have to clear 2 groups of exams.

The first group has 4 paper and group 2 has 3 papers. Each paper is of 100 marks. The initial 4 subjects are of group 1 and group 2. Students must have at least 40% in each subject and an aggregate of 50% to be able to sit for the CA final.

  • Paper 1 – Accounting
  • Paper 2 – Business Laws, Ethics and Communication
  • Paper 3 – Cost Accounting and Financial Management
  • Paper 4 – Taxation
  • Paper 5 – Advanced Accounting
  • Paper 6 – Auditing and Assurance
  • Paper 7 – IT and Strategic Management

CA Final

Candidates must complete at least 2.5 years of Articleship to be eligible to sit for CA finals. CA finals have 8 exams and each is of 100 marks. One must score at least 40% in each and 50% aggregate to pass this exam.

  • Paper 1 – Financial Reporting
  • Paper 2 – Strategic Financial Management 
  • Paper 3 – Advanced Auditing and Professional Ethics
  • Paper 4 – Corporate Allied Laws and Ethics
  • Paper 5 – Advanced Management Accounting
  • Paper 6 –  Information System Control and Audit
  • Paper 7 – Direct Tax Laws
  • Paper 8 – Indirect Tax Laws

Paths to attain CA Qualification

The whole process to become a CA is very long. There are many other paths that can be followed.

  • After 10th, you can appear for CPC exams. Then complete 10+2 studies and then appear for CPT. After that, you can register for IPCC. After clearing group 1, do the ITT and complete orientation program. Then complete 9 months of Articleship and appear for group 2 of IPCC. After passing and having completed at least 2.5 years of Articleship, CA finals can be attempted.
  • After 12th, students can directly appear for CPT. The rest of the procedure is the same as after the 10th.
  • After graduation/ post-graduation, candidates do not have to sit for CPT. They have to complete ITT, orientation program, and 9 months of Articleship and then sit for IPCC Group 1 as well as group 2. After clearing and completing at least 2.5 years of Articleship, CA finals can be attempted.

CA after graduation: Career prospects you can explore

After successful completion of the course, one becomes the official member of ICAI. They can either practice with some company or they can start their own firm.

Some of the domains that CAs can work in are:

  • Banks
  • Finance Companies
  • Auditing firms
  • Legal firms
  • Management consultancy services
  • Taxation
  • Public limited companies
  • Mutual funds
  • Investment houses
  • Entrepreneur

Some of the best Indian firms are listed below:

  • Deloitte
  • PriceWaterhouseCoopers
  • Ernst & Young
  • BDO International
  • Grant Thornton
  • KPMG
  • RSM International
  • SR Dinodia and Co. LLP
  • SS Kothari
  • Luthra and Luthra

FAQs

✅ Is there any age restriction?

No, there are no restrictions regarding age.

✅ How many times can we attempt IPCC?

After registering once, you can attempt as many exams as you want for the next 4 years. After that, you will have to register again. So, after one registration, maximum attempts is 8.

✅ How many times can we attempt the CA final?

Each registration is valid for 5 years so, a maximum of 10 attempts are possible after each registration.

✅ Is practically training mandatory?

Yes, ICAI has made it compulsory.

✅ Can I give CA final after 2 years of Articleship?

No, it can only be given after 2.5 years from the commencement of
Articleship.

✅ If I do not fill the exam form will it be counted as an attempt?

No, an attempt is only counted after you have filled the form.

✅ If I pass group 1 two times, will it be counted as two attempts?

Yes, it will be counted as two attempts.

✅ How many attempts exemption is valid in CA?

Any exemption is valid up to the next three attempts.

✅ Is mathematics compulsory for CA?

No, it is not a compulsory subject. A student who has not studied mathematics after 10th or in graduation is also eligible for appearing for CA.

✅ Will I be able to appear for CA exams if I have optimum marks in post-graduation but less than 55% / 60% in graduation?

Yes, you are eligible. If you are appearing after graduation then you need to have the minimum required marks in graduation. If appearing after post-graduation, the marks of post-graduation will be considered.

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About the Author

Rachit believes in the power of education and has studied from the top institutes of IIIT Allahabad, IIM Calcutta, and Francois Rabelias in France. He has worked as Software Developer with Microsoft and Adobe. Post his MBA, he worked with the world’s # 1 consulting firm, The Boston Consulting Group across multiple geographies US, South-East Asia and Europe.

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