Chartered Accountancy Course is a professional course in Accounting introduced in our country in 1949, with the enactment of the Chartered Accountants Act. The Institute of Chartered Accountants of India (ICAI) was formed the same year . This Institute is both an examining and a licensing body. It is the responsibility of the institute to conduct the Chartered accountancy (CA) Course. The course involves a blend of theoretical education and practical training which run concurrently for a period of three years and equips a student with knowledge, ability, skills and other qualities required of a professional accountant.
A Chartered accountant is one who is specialised in accounting, auditing and taxation. He also serves as a management and corporate caretaker. In recent times, accountancy has become popular as a profession. The services of a CA is required in money matters even in a small business . Moreover according to the Company Act only CA's in professional practice are allowed to be appointed as auditors of companies in India. A chartered accountant is a person who is accepted as a member of the Institute of Chartered Accountants of India (ICAI) after having passed the Final examination of the Chartered accountancy course conducted by the institute.
CA programme is of two years apart from the training period. It has three sections, Professional Education (course-I), Professional Education (course-II) and Final examination. A candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the CA programme. Commerce graduates with 50% marks, non-commerce graduates with subjects other than Mathematics with an aggregate of 55% marks and non-commerce graduates with Maths with an aggregate of 60% marks has exemption from doing the professional course I and are permitted to register for Professional Education Course II. The registration for Professional Education Course-I & Course II is open throughout the year. A student may register at any time during the year. However, as the examinations will be held twice a year in May and November, it is necessary that a student must register at least ten months before the examinations.
After passing the Professional Education exam II candidates are eligible for registration as articled clerks/audit clerks for practical training.Computer Training Programme is compulsory for the candidates who wish to register themselves as auditor clerk. Students can undergo this programme while pursuing Professional course I or course II. Articled clerk is a trainee attached to a practicing chartered accountant under a Deed of Articles for the duration three years. During this period the articled clerk will also need to continue studies for the CA exam. An audit clerk is a person who has served as a salaried employee for a minimum period of one year under a practicing chartered accountant. During the training period, candidates would be required to work in different areas learning the basics of auditing and taxation This training enables them to learn the technical details of the job as well as to get an idea of the working environment of the profession.
The scope for this lucrative career is bright in an economically developing nation like ours and as such the career can be termed as challenging and rewarding for competent professionals in the field.
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