Is CA Hard? How Does One Become A Chartered Accountant?

This Article is written by CA Preeti Aggarwal, Director of Theorymasters Learning Private Limited, an e-learning platform providing CA foundation and CA inter law video lectures. In this article, she discusses how to become a Chartered Accountant.

‘Before you can win, you have to believe you are worthy’. If you read and believe that CA is a tough course and you may not be able to crack it, then of course it will appear tough. But if you believe that with the right approach, proper planning and coaching you will be able to clear the exams in the first attempt, then no one can stop you from being a Chartered Accountant. So, before you decide whether this course is tough or not, let us first go though the course in detail.

I) Chartered Accountant Course

The CA (Chartered Accountant) is one of the respectful and challenging career fields. Responsibilities related to Chartered Accountant is  to take care of the matters related to accounting and taxation of a business, like file tax returns, audit financial statements and business practices, maintaining records of investments, preparing and reviewing financial reports and documents. A Chartered Accountant is also qualified to offer advisory services to clients which include companies and individuals.

Becoming a certified Chartered Accountant in India, requires completing three levels of training designed by the Institute of Chartered Accountants of India (ICAI).  

II) Chartered Accountant Qualification 

Chartered Accountant takes 5 years to complete

The CA Foundation course is the entry-level foundation course including the quantitative aptitude test, general economics, mercantile laws and accounting.

The CA Intermediate course has two groups. It covers knowledge of the core subjects. It is specially designed to improve the knowledge of accounting standards.

The CA Final course covers the advanced knowledge of financial reporting, management accounting, strategic financial management, professional ethics, information systems control and advanced auditing.

III) CA Articleship

After clearing Group 1 of CA Intermediate exams and completing both ICITSS-ITT and ICITSS-OC, every CA Student must undergo three years of articleship in a Chartered Accountant firm. Before that every student has to complete MCS-advance IT and MCS-orientation course during articleship before appearing for CA final exams.   

Where to do articleship ? https://www.youtube.com/watch?v=8eHkTZz39Ng

IV) Chartered Accountant Salary

The starting salary of a Chartered Accountant can be somewhere around ₹6 Lakhs p.a. An early career Chartered Accountant with 1-4 years of experience earns an average total compensation of ₹7 Lakhs p.a. A mid-career Chartered Accountant with 5-9 years of experience earns an average total compensation of ₹11 lakhs. In their late career (20 years and higher), employees earn an average total compensation of ₹20 lakhs p.a

However, these are just estimates, and differ from industry to industry.

V) Why do students find the CA Course tough?

a) With so many changes in economic reforms and as many changes in laws and taxes make it quite hard to remember and be updated all the time.

b) Compared to other post-graduate courses C.A. courses are not intensively trained as the portion is vast and time is limited. Hence students lacks in coaching guidelines

Conclusion- As per my knowledge and experience I have discussed on above topic , for more CA related queries write in comment section below 

For best CA Foundation and CA Inter LAW Lectures visit https://capreetiaggarwal.com/