Chartered Accountancy is one of the most sought after and the toughest examination in the country as far as the professional accountancy examinations are concerned.
The Chartered Accountancy Course is a distance learning professional course offered by The Institute of Chartered Accountants of India, although very popular among the commerce students. Infact, students who are interested to pursue this course has to undergo different stages of examinations along with some practical training sessions. The Institute of Chartered Accountants of India provides a three level CA program comprising the following 3 stages.
- The different stages of examination includes the following-
- ICAI Guidelines for other courses along with Articleship
- The most familiar ones include following two courses.
- Some other prominent professional courses which can be opted by students can be as follows-
- 3. Financial Risk Management
- 4. Chartered Financial Analyst
- Some of the other finance related courses which a student can opt keeping their own interests intact can include following-
- In addition to above there are some Diploma Courses also available which candidates can opt for. Some of the examples are as follows-
- Information Technology Based Courses
The different stages of examination includes the following-
- Foundation Programme
- CA Intermediate Programme
- CA Final Programme
The basic characteristics of the course being a blend of theoretical and practical training which involves 3 years of articleship under a Chartered Accountant. During this tenure of articleship , the students can opt for various types of courses which can make them more intelligent and sharp in their work by gaining and deploying various knowledge based courses.
In other words we can also say that this unique requirement of practical training is instrumental in shaping a well-rounded professional to ensure that students have an opportunity to acquire on-the-job work experience of a professional nature. Such a practical training is also important because a student will enhance and develop in the following set of spheres-
- Training inculcates a sense of discipline and professional attitude for hard work;
- This also helps in developing necessary skills in applying theoretical knowledge to practical situations;
- Practical training also provides exposure to overall socio-economic environment in which organizations operate; and
- Training is also essential for developing ethical values.
As per ICAI, “Under the Present Scheme of Education & Training three years of articleship training has been designed to strike a balance between theoretical education and practical training”
A student can also undergo audit training. Eight months of audit training is treated as equivalent to six months of articleship training.
ICAI Guidelines for other courses along with Articleship
“To ensure that the working hours do not clash with the graduation or any other course, if any pursued by the article assistant, each articled assistant registered on or after 1st April 2008 shall need specific permission from the ICAI for pursuing graduation or other course as permitted under the Chartered Accountants Regulation by submitting Form No.112, within one month from the date of joining the college or course to the ICAI”
Students have the options to go for either of the following types of courses-
- Diploma courses
- Degree courses but correspondence
- Professional courses which are quite compatible with the ongoing course of Chartered Accountancy
Lets discuss all these options one by one in detail
The most familiar ones include following two courses.
| Course | Duration & Eligibility | Subjects |
| Company Secretary by The Institute of Company Secretaries of India | 1) 3-5 years standard duration for this professional course10+2 with a minimum 60% aggregate 2) Course if divided into three levels- Foundation, Executive and Professional 3) Practical Internship is also required to be done by the candidates at a requisite interval of time frame 4) Multiple attempts are also required to be taken sometimes by the candidates 5) Maximum attempts limit should be checked before pursuing the course | Every type of law- Commercial, Industrial, Legal, Corporate, Professional etc Legal proposes and agreements of companies. |
| Cost and Management Accountant by the Institute of Cost Accountants of India | 1) 3-5 years standard duration for this professional course10+2 with a minimum 60% aggregate 2) Course if divided into three levels- Foundation, Inter and Final 3) Practical Internship is also required to be done by the candidates at a requisite interval of time frame 4) Multiple attempts are also required to be taken sometimes by the candidates 5) Maximum attempts limit should be checked before pursuing the course | Business Mathematics and Statistics Laws and Ethics Accounting Economics Management Company Accounts and Audit Operation Management Information System Business Strategy & Cost Management |
Infact in some of the cases there are certain exemptions also available for the students opting for these course in either ways.
Some other prominent professional courses which can be opted by students can be as follows-
1. Courses by ACCA(Association of Chartered Certified Accountants)
It is a professional body recognized at global level which offers various specialisation based courses for students from accounting and finance background.in contracts to degree of CA which is only recognised in India, it has a global level based recognition. Infact the structure is quite similar to that of the course of CA in India.
Visit ACCA Website
2. CPA i.e. Certified Public Accountant
It is also one of the favourite course of the students while doing Chartered Accountancy. The main benefit of doing this course is that the students will gain excellence in accountancy knowledge while doing this course in parallel to CA.
Visit CPA Website
3. Financial Risk Management
This is another globally recognised course like ACCA and CPA. But its slightly different from the degrees of accounting as its main focus is on the risk management but considering the financial implications involved. This course will be advantageous to them because they will have a blend of two aspects i.e. Finance + Risk Assessment & Management thereof.
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4. Chartered Financial Analyst
CFA (Chartered Financial Analyst)is yet another professional qualification in demand these day by some of the multi national companies. This course is usually opted for a profile making real-world investment and managing portfolios. This course can attract those students who are really interested in the knowledge of Financial Sector. Like CA it is also a 4 years course and is having the duration of practical training also included.
Visit CFA Website
Some of the other finance related courses which a student can opt keeping their own interests intact can include following-
- Investment banking related
- Bachelors of Law if the student has started CA without graduation
- Courses of Taxation
- Internal Audit specifications
In addition to above there are some Diploma Courses also available which candidates can opt for. Some of the examples are as follows-
- Diploma in Hotel Management
- Diploma in Physical Education
- Diploma in Digital Marketing
- Diploma in Banking and Finance
- Diploma in Writing and Journalism
- Diploma in Computer Application
- Diploma in Retail Management
- Diploma in Fashion Designing
- Diploma in Yoga
Information Technology Based Courses
Some students also opt for computer based courses which are not only related to Accounting or Finance but also it enhances their technological knowledge. Recent times various Institutes and Universities have launched large number of courses related to following advanced streams-
- Artificial Intelligence
- Robotic Process Automation
- Digital Marketing
- Computer Aided Techniques
- Cyber Security
- Business Impact Analysis
- Business Process Reengineering