Chartered accountancy is a professional course. Chartered accountants work in different areas like tax, audit, finance, accounting etc. One way to join chartered accountancy course is after completing intermediate.
It contains four stages.
1.CPT(COMMON PROFICIENCY TEST):
It is an entry-level test which contains objective type questions. A student has to score at least 50 percent marks in aggregate and 40 percent marks in each subject to promote to further level i.e. IPCC.
2.IPCC(INTEGRATED PROFESSIONAL COMPETENCY COURSE):
It is nine months study. It contains two groups. Students have to pass the exams with 40 percent in each subject and aggregate marks of 50 percent. By passing either of the groups, we can join in articleship level. However, both groups should be completed.
3.ARTICLESHIP (PRACTICAL TRAINING):
After completion of IPCC, articleship (practical training under a qualified CA) should be done for a period of 3 years.
At the final level, we have both groups consisting of 8 subjects. At the end of the third year of articleship, we have to write final exams. A student has to get 40 percent in each subject and a total of 50 percent.
After qualifying through all levels ICAI(Institute of chartered accountants of India) gives membership and called as a chartered accountant.
Another way to complete course is through direct entry scheme.
A person can do the course through direct entry scheme only after completing graduation. Who have completed graduation has to join articleship and undergo 9 months of practical training (articleship) and after that 9 months, we can attend IPCC exams.
After completing 3 years of articleship and IPCC both groups we can attend final level exams. Completing successfully all the levels one can get a chartered accountant certificate and membership is given by ICAI.
Firms pay you high salaries in India after you become a Chartered Accountant.