Chartered Accountant: Today?s World of Start-Ups, CA Is in High Demand.
Let?s begin with what is Chartered Accountant? Chartered accountant (CA) is an international accounting designation granted to accounting professionals in many countries around the world, aside from the United States. In the United States, the equivalent to the CA designation is a certified public accountant (CPA). A CA credential typically proves that its holder has the qualifications to file a business's tax return, audit financial statements, and business practices, and offer advisory services to clients.
CAs vs. CPAs?
The main difference between CAs and CPAs is that the CPA is a designation used in the United States, while CA is used in many other countries. Around the world, CPA abbreviations can refer to different types of accounting professionals. For instance, in Canada, a CPA is a chartered professional accountant; in Australia, a CPA is a certified practicing accountant.
There are four stage processes to be eligible, any candidate who has passed 10thclass or any course equivalent to that can apply for the Common Proficiency Course (CPC) first. Then post-qualifying for the 10+2 exam, a candidate has to then qualify in the CPT exam. After that, the CPT IPCC, successful article-ship or training under an officially practicing C.A has to be done for 3 years. Then come the CA Final exam. Before opting for the Integrated Professional Competence Examination, the candidate must have qualified CPT. A minimum of 55% score is required for graduates/post graduates in commerce, whereas other graduates or postgraduates require a minimum of 60% to apply for CA. Candidates need to register 9 months before the exam and then complete 100 hours of Information Technology Training.
To put it in simple words, first, the Common Proficiency Test needs to be qualified. The second, Integrated Professional Competence Course needs to be qualified. Then three years Article ship or training has to be undergone under a Practicing Chartered accountant. Then the candidate needs to appear for CA Final exams.
The candidates have to register 60 days before the first day of the month in which the exam happens. A candidate can appear for the chartered accountant course after 12th class and immediately register and appear for CPT. Candidates need to wait for at least a minimum of 60 days post registering for the CPT. Candidates can only appear for the exam in June/December exams if they register before 1st April or 1st October.