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A complete guide for the CA Exam in India!!
One of the most popular career choices for students after class 12th is to become a Chartered Accountant in India. All CA exams are administered by the Institute of Chartered Accountants of India, a national professional accounting body in the nation. In India, the Chartered Accountancy profession is governed by this regulatory body. To become a CA, students must pass all three CA exams: CA Foundation, CA Intermediate, and CA Final. Every year, the ICAI holds two CA examinations.
Various CA Course Admission Procedures:
The CA can be accessed in three different ways. Students can prefer ca foundation books for the best results. The university and the students will determine this. The three different approval processes and some information on the CA subjects are listed below:
CA Course through CA Foundation following Class XII (CPT Route):
The CPT was traditionally the first exam made available as a first-level CA exam. However, CA Foundation has taken its place as a result of an ICAI-revised scheme.
Candidates must pass the CPT/CA Foundation exam, which is held twice a year in June and December with registration deadlines in April and October, in order to continue on with the CA programme after completing the 12th grade.
The CPT/CA Foundation exam offers candidates a variety of options. Some of them are as follows:
Let's say the candidate's 12th-grade results are still pending. They are still able to apply for a provisional registration for the CPT/CA Foundation exam in this scenario, but they will need to submit a mark sheet as soon as the results are available.
After passing the CPT/CA Foundation exam and their 12th-grade exams, candidates can submit an application for the IPCC (Integrated Professional Competence Course).
CA Course through Direct Entry after Graduation:
Candidates who complete CA courses are given seats immediately after graduation, exempting them from the CPT. To qualify for the IPCC exam and start their articleship, graduates must have a high percentage of passing grades.
A direct entry candidate must finish the nine months of required articleship training in order to be qualified to take the Intermediate Final Exams.
If you want to be admitted directly after graduating, you must fulfill the following conditions:
CS Executive passed
the Intermediate CMA Exam passed
Students who have passed the CA Intermediate level exams are eligible for the Direct Entry Scheme:
The Direct Entry Scheme also accepts applicants who have passed the ICSI or ICAI Intermediate Level exams. 60% of other subjects and 55% of graduate degrees in business qualify for the IPCC when exempt from the CA Foundation/CPT.
Students must prepare for the ICAI CA Midterm Exam for eight months after enrolling. After passing the mid-level exams offered by the Indian Cost Accountants Association (ICAA) or the Institute of Company Secretaries of India (ICSI), candidates can start their position as an articled student (IIC). A three-year degree is an articleship. Following that, candidates should adhere to the following rules:
After passing both CA midterm groups, take the CA final exam.
Candidates must finish the 4-week AICITS training before taking the final exam and completing the final two years of practice.
During the final six months of article training, one may sit for the final CA exam.
It is necessary to finish the article training course.
Qualify for the CA Final Groups.
Join the Indian Association of Certified Accountants to start working as a CA (ICAI)
Comparison Between CPT Route and Direct Entry Scheme in CA Course
Below is a comparative table highlighting the differences between CPT Route and Direct Entry Scheme in CA Course:
Particulars
CPT Route
Direct Entry Scheme
Eligibility
After XII
After Graduation or Passed CS Executive or Passed the CMA Intermediate Exam
Exemptions
No Exemptions
CPT Exempted
Minimum Duration
4.5 years
3 years
Eligibility to start Articleship
After clearing Group I of IPCC
Immediately on joining without clearing the IPCC Group I
Eligibility to appear for IPCC
After 9 months of study after CPT
After 9 months of Articleship
CA Courses and Length
Advanced Financial Reporting, Management Accounting, Strategic Financial Management, Professional Ethics, Information System Management, and Advanced Auditing are all topics covered in the CA Graduate Course. A 15-day required training course, the General Management and Communication Skill Course (GMCS) was introduced in 2003. The durations of the courses are listed below:
It takes 4.5 years after XII (using the CPT method).
The Direct Entry Scheme is available for three years.
A Brief Overview of the CA Exams
The entrance exam for any course that a student wishes to pursue must always be thoroughly researched. Students can ensure they pass the exam with the grades necessary to pursue the career path of their choice by becoming familiar with the exam format. Hardworking students should go through the best books for ca foundation. The CA exam format varies according to the level that students are pursuing. The general format for the various levels is shown below.
Foundation CA
Candidates may only administer the CA Foundation exam offline. The majority of students are able to take the exams because the exam centres are located all over the world. A student has two opportunities per year to take the exam, in either Hindi or English. Subjective questions are on the first and second exam papers, while objective questions are on the third and fourth exam papers.
Paper 1: Accounting Principles and Practice.
Paper 2: Business laws and Business Correspondence and Reporting
Paper 3: Statistics, Logical Reasoning, and Business Mathematics
Paper 4: Business & Commercial Knowledge and Business & Economics
CA Intermediate
An offline exam called the CA intermediate is given twice a year. The exam is available in Hindi and English.
The exams consist of two groups.
Each paper is of 3 hours and carries 100 marks.
The weightage of Papers 2, 4, 6, and 7 is 30 percent and the questions are of the objective type.
The subjective questions are given the remaining 70% of the weight.
Students must receive a minimum of 40% on each paper and a total of 50% in order to pass the test.
FINAL CA EXAM
The CA final exam is a one-time-per-year offline test. The exam is available in Hindi and English.
There are two groups of eight papers each in the exam.
Each paper is worth 100 points.
After completing the mandatory 2.5–3 year article ship in the CA final level, students are eligible to sit for the CA final exams.
CA STUDY IN INDIA
The ICAI, or Institute of Chartered Accountants in India, is the statutory body which conducts the chartered accounting exam in India. However, given the breadth of CA, numerous institutions provide top-notch CA programmes for aspirant professionals. The best CA colleges in India are listed below.
Name of the Colleges:
The Institute of Chartered Accountants of India
2. Academy of Commerce
3. Nahata Professional Academy
4. Vidya Sagar Career Institute Ltd
5.Chanakya Academy for Management and Professional Studies (CHAMPS)
6. Pearl CA College, Kochi
7. Northern India Regional Council of ICAI
8.Indian Institute of Finance and Accounts Pune
9. Navkar Institute
10. Vidya Sagar Institute
Conclusion:
It is a matter of pride to be a Chartered Accountant in India. There are three stages of the exam: CA Foundation, CA Intermediate, and CA Final. The details of all three steps are discussed in the blog. The admission criteria and the list of universities are also mentioned. Aspirants who are preparing themselves for this exam should read this informative blog.
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10 Mistakes You Should Avoid While Preparing For The CA Exam !!
The Institute of Chartered Accountants of India (ICAI) expects nothing less from you throughout your CA journey because CA is professional education. There is pressure to complete training, study for exams, and handle a variety of other tasks. You cannot, however, give in to them and allow yourself to make the most egregious mistakes of your career while putting together a plan for your CA final preparation.
These small mistakes are the only difference between the toppers and the failures. You should therefore be aware of how to avoid making these typical errors regarding the CA entrance exam in order to avoid failure.
Do not ever ignore the study material by ICAI:
Never ignore the study guides and practice manual from the ICAI. Any reference book or coaching tool can help you cover the entire curriculum, but the ICAI materials come with exam-style questions.So start practising the ICAI manual's questions as soon as you've finished a particular topic or chapter. You may be able to understand the concept better if you practise answering lots of questions.
Don’t Depend on Others:
CA students frequently commit the error of mindlessly adhering to other students. Some people sign up for the course because a friend or relative of theirs has already finished it. Students frequently follow their friends during articleship training and work placements. If you do this, you will be limiting your interactions with other people. Most trainees who go to class with friends are unable to broaden their horizons. Firstly understand by yourself about the CA Exam in India and do you really want to do the course or not.
Don’t ever skip your textbooks and previous year papers:
Going above and beyond isn't harmful, even though studying textbooks has always been the best strategy for passing any exam. Previous year papers are typically beneficial for passing exams and understanding question types. Look over as many different papers as are available and learn from the best books for CA Foundation to get the best results.
Don’t ever skip your revision:
During the articleship, skipping studies and revisions is a bad idea because it will exhaust you to get up early and work all day. You might be tempted to skip revisions and research in order to save time as a result. Sadly, most students give in to this pressure and are unable to deliver adequate results for the remaining CA Intermediate group/CA Final exams.
The three years that you spent doing articleships are very important for your development. Seek out opportunities to work and gain as much knowledge as you can. But make sure you have a sound study plan for managing your time.
Do not get anxious and panic:
The most frequent mistake students make is that they panic after reviewing the first paper. Students often have a tendency to become anxious if one of the question papers is a little longer. They start worrying about how they would go to finish the paper before they have even started writing it, and this usually occurs right after they have checked it out. As a result, what they had previously believed comes to pass.
The worst part is that they continue to dwell on what has passed and begin to do things like cry and relive the exam period. The key takeaway is to start studying for your upcoming test rather than dwelling on how your previous exam went. What was lost was indeed lost. It won't return at all. Instead of dwelling on all that has passed, instead you should motivate yourself and prepare for the second exam.
Don’t ever mismanage your time:
Always complete your work quickly and effectively. After carefully reading the paper, you should have a general idea of how much time you should spend on each question. Students frequently spend the most time on one question, and when they are finished, they realise that it took them a considerable amount of time to complete just one answer. Consider the marks the question will bring when scheduling your time. For instance, allocate no more than one minute or up to 1.5 minutes for a question worth one mark.
Don’t ever chase multiple study materials:
It is evident that the CA examinations would be significantly different and more difficult than the typical Graduate or Undergraduate university exams. As a result, CA students adopt a very different and professional approach to learning and training. There are more than a thousand CA journals, books, seminars, webinars, etc., in the market. It is important to keep in mind that combining ideas from various sources is not needed. Students should be wise enough to determine which subject they like the most and understand easily. Students can also take the help of the best CA Foundation Books, as they provide the right content.
Don’t be careless regarding your health:
While immersed in your books, it's important to take care of your body. It will keep your mind engaged and your body in good shape. Even regular exercise can lower your stress levels. Get at least seven hours of sleep every night, and eat balanced, healthy meals. Additionally, keep in mind to stay hydrated by drinking at least 8 glasses of water each day. In order to avoid getting sick before your exam, stay away from fast food and eating out. Stay positive and focused, avoid overstressing yourself, and you will succeed.
Never let your memory be inactive:
There is only one way to say that memorization will not help you in passing the fiercely competitive CA exams. These exams are of a professional calibre, so knowing the underlying theories requires extensive self-study. Although it is prudent to spend more time on the anticipated topics, you must not ignore any subject in the syllabus in order to improve your chances. Take the help of CA Foundation Course Books for the authentic stuff and easy to memorise stuff.
Negative Thoughts:
Never think negatively and always be aware of your shortcomings. The mind frequently accepts thoughts and beliefs without first judging or questioning them. If all it learns, observes, and reads is negative, it interprets this as fact and an example. Therefore, make an effort to always foster a positive environment. Allow yourself to become more and more self-assured. Increase your self-confidence and wait for favourable results.
Conclusion:
CA is one of the most reputed competitive exams of India and it is conducted by ICAI.
This exam is not so easy to crack but it's not impossible either. But students should avoid making mistakes for that. There are 10 mistakes that one should avoid if they really want to crack the CA Exam and they are:
do not ever ignore the study material by ICAI,
don’t depend on others,
don’t ever skip your textbooks and previous year papers,
don’t ever skip your revision,
do not get anxious and panic,
don’t ever mismanage your time,
don’t ever chase multiple study materials,
don’t be careless regarding your health,
never let your memory be inactive,
negative thoughts.
Avoiding these mistakes would surely lead to success.
All the best !!!
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