How to Become a Chartered Accountant in India | How to Become CA | ChetChat

Click on this link for a video with Nikhil Gambhir who talks of the steps to becoming a Chartered Accountant in India, Strategies for preparation, Big 4 vs. medium sized CA Firm articleship, MBA Finance vs. Chartered Accountancy, Is the degree valid overseas, career options after completing the course, advice on how to choose your internship and much more.

Steps to Becoming a Chartered Accountant –

1. 0:55 Enroll in a BCom College in Mumbai University. In Delhi University this is not possible

2. 1:14 Step 1 – Enroll for CPT (Common Proficiency Test) – Level 1 of the CA Exam
a. 1:21 This has four subjects – Accounts, Math, Economics and Law
b. 1:33 Science and Humanities students can take up this course
c. 1:53 Preparation for CPT is about one month
d. 2:13 Institute of Chartered Accountants of India provides coaching material

3. 2:24 Importance of Coaching Classes for Chartered Accountant

4. 2:53 Results of CPT declared within 2-3 months

5. 3:05 Step 2 – Register for Level 2 – IPCC (Integrated Professional Competence Course)

a. 3:10 Time gap is 9 months between CPT and IPCC
b. 3:22 CPT – June or December
c. 3:35 IPCC – May or November
d. 4:13 Group 1 has four subjects
e. Group 2 has three subjects
f. Choose your coaching classes
g. 4:30 40% minimum in every subject
h. 50% in every group
i. 4:36 Recommended strategy is to take the two groups together
j. 4:50 Set off is available
k. After clearing Group 1 you can start your articleship
l. 5:41 If you get a 60% or above in any subject, you get an exemption

6. 6:14 Step 3 – Chose your internships / articleship
a. 6:25 Big Four vs. Medium sized CA Firm
b. 7:27 Industrial Training in the third year – is optional

7. 7:57 Step 4 – CA final Exam
a. 8:02 Both groups have 4 subjects each
b. 8:06 This is rigorous and needs about 8/9 months of dedicated work

8. 8:47 Minimum 4 years to clear everything in the first attempt

9. 9:01 Strategies to study
a. Study every day for 20 minutes
b. Read everything three times

10. 9:35 First attempters are front runners initially

11. 10:10 Job Interview for a Chartered Accountant
a. Is very technical
b. Need in-depth knowledge on technical and software

12. 10:44 Campus placements at ICAI (Institute of Chartered Accountants of India) is available

13. 11:30 Career Paths / Jobs available
a. Audit and Taxation
b. Mergers and Acquisition
c. Consulting Firms
d. Investment Bank

14. 12:07 SEBI regulation for Investment Banks in India – to have a registered practitioner in India

15. 12:25 MBA Finance vs. Chartered Accountant
16. 13:11 Chartered Accountant recognised globally –
a. MOU’s with various countries
b. Demand in Middle East
c. Foreign Set ups in India

Host - Chetna Vasishth

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