Charted Accountant

The Institute of Charted Accountants of India


Chartered Accountants play a vital role wherever financial transactions are involved in business organizations. The main functions of CA are as follows-:

A]    To maintain accountants, preparation of financial statements & control of financial aspects.
B]    Statutory Audit, Tax Planning, Income Tax Access & Preparation of will.

Because of fast growing industries, this career has got bright future.

How to enter in this Profession -:

There is a three-step examination for entry in this profession. To become a Chartered Accountant one must have to clear the foundation, intermediate & final examination.

The eligibility criterion for registration as a student of the Charted Accountancy Course is

Completion of the Foundation Course and passing of the foundation Examination OR
Graduation satisfying the following conditions :
1.    Commerce Graduates with Accountancy and Auditing and Mercantile Law or Commercial Law (with 50 % marks)
2. Non - commerce graduates with Mathematics as one of the subjects and with 60 % of
the total marks.
3. Non commerce graduates with subjects other than Mathematics and with 55 % of the total marks.

The candidates should take an advantage of the postal tuition offered by the Institute of Chartered Accountants of India as a part of preparation of these exams (Intermediate, Foundation, Final). The facilities for oral coaching at the accredited centers may also be gainfully utilized.


Foundation Course:

The foundation course is the gateway to enter the professional course of Charted Accountancy immediately after of school education (10 +2).

Subjects:

Fundamental of Accounting, Mercantile Law, Mathematics & Statistic and Economics.

Eligibility - 10 + 2 Examination or its equivalent in any stream. Graduates who obtained less than the requisite percentage of marks specified above are also eligible for admission to the foundation course.

Registration of the Foundation Course ; Students who would like to register with the Board of Studies as students of the foundation Course have to forward their applications in the prescribed form together with a crossed Demand Draft for the requisite amount drawn in favour or ' Secretary , The Institute of Charted Accountants of India' payable at New Delhi, Bombay/Calcutta/Madras/Kanpur.

Addresses: For the purpose of registration

           
1
Deputy Director of Studies
The Institute of Charted Accountants of India
'Anveshak', 27, Cuffe, Parade,
Mumbai 400005
2
The Joint Director of Studies
The Institute of Charted Accountants of India,
Indraprastha Marg,           
New Delhi- 110002

3
Asstt. Secretary
The Institute of Chartered Accountants of India,
122, Utthamar, Gandhi Salai
PB 3314, Nungambakkam
Madras 600034

4
The Joint Director of Studies
The Institute of Chartered Accountants    of India,   
7, Russell Street, Calcutta, 700071




Foundation Examination:

The foundation Examination consists of 4 papers;
Paper 1- Fundamentals of Accounting
Paper2- Mercantile Law
Paper 3- Section'A' Methematics, section'B'- Statistics
Paper 4- Economics.

Intermediate ;

Group I       
Group II

Paper1- Advanced Accounting
Paper 4- Cost Accounting
Paper 2- Auditing
Paper 5- Income Tax & Central Sales     Tax
Paper 3- Corporate & Other Laws
Paper6- Organisation and management and Fundamentals of Electronic Data Processing

               
       
      
Final The prescribed subjects for study are as follows :
Group I   
Group II

Paper 1- Advanced Accounting
Paper 5- Advanced Cost Accounting &
Cost Systems
Paper 2-Management Accounting
Paper6- Systems Analysis, Data & Financial
Analysis Processing & Quantitative Techniques
Paper 3- Advanced and management Auditing.

Paper 7- Direct Taxes

Paper 4-Corporate Laws & Secretarial Practice
Paper 8- Indirect Taxes


   
Cost and Works Accountant

Scientific management has recognized cost and management accountancy as one of the essential management services. The cost and management accountant aids in stabilizing budgets and standards, evaluating operational efficiency and effectiveness of production, formulating profit planning programme, guiding managerial decisions and identifying accountability for cost and profit variances. He advises on provident planning, product pricing, inventory control, export profitability, feasibility studies, investment proposals, marketing and finances. (The professional whom we call 'Cost and works Accountant' in India is popularly known as 'Cost and Management Accountant in other countries)

Several members of the Institute of cost and works Accountants of India hold top management positions in the corporate sector. Many industries have been covered under the statutory maintenance if cost accounting under the Companies Act. The Cost Accountant can offer his services for acting as trustee, executor, administrator, arbitrator, receiver, appraiser, values adviser, secretary, or as a representative for financial matters including taxation. He can take up appointment that may be made by the Central/State government, Courts of law, labour tribunals, or other legal authorities.

Eligibility

There are three levels of examination conducted by the Institute for candidates desirous of entering the profession - Foundation, Intermediate, and Final.
A graduate from any recognized university can register for direct admission to the Intermediate examination. However a candidate who has passed the Senior Secondary examination (10+2), or equivalent should apply for admission to the foundation course examination, consisting of four papers:

1. Business fundamentals and Economics.
2. Management and organization.
3. Basic Mathematics and statistics
4. Commercial Laws.

It is obligatory on the part of the registered students to undergo a course of tuition, either postal or oral, before they are permitted to appear at the Intermediate or final examination. Postal tuition is conducted by the coaching directorate of the Institute through its Regional Councils. Oral tuition is imparted by such colleges or institutions as are recognised by the Director of Studies of the Institute for the purpose.


A person who has passed the final examination and has acquired three years of relevant experience can seek Associate Membership of the Institute (AICWA) After five years of practice as an associate Member, he can apply for fellowship (FICWA)

Addresses: Candidates seeking registration as students should apply to the respective Regional Councils. The address of each Regional Council, along with the area covered by it is indicated below.

1.     Western India Regional Council of the ICWAI, Rohit Chamber (4th      Floor),
Janmabhoomi Marg, Fort, Mumbai-400 001
    [ Gujarat, Madhya Pradesh, Maharashtra, Goa, Daman, Dui, Dadra &&     Nagar Haveli].

2.     Southern India Regional Councils of the ICWAI, 65-Montieth Lane,     Egmore,
Chennai-600 008
    [Andhra Pradesh, Karnataka, Tamil Nadu, Kerala, Pondicherry,      Lakshadweep].

3.     Eastern India Regional Council of the ICWAI, ICWAI Bhavan, 84 Harish     Mukherjee Road, Calcutta-700 025
    [Assam, Bihar, Manipur, Meghalaya, Nagaland, Orissa, Tripura, West      Bengal,
Arunachal Pradesh, Mizoram, Sikkim, Andaman & Nicobar, and foreign countries]

4.     Northern India Regional Council of the ICWAI, ICWAI Bhawan, 3      Institutional
Area, Lodhi Road, New Delhi-110 003.
    [ Haryana Himachal Pradesh, J&&K, Punjab, Rajasthan, U.P. Delhi,     Chandigarh]