Accounting courses and Chartered Accountancy
Accounting courses have a wide scope in the job market, as accounting is the lifeline of any organization. Most government departments, commercial, manufacturing sectors have a dedicated accounting department. These departments not only document the financial transactions, but also plan the future of an organization by suggesting guidelines for growth after analyzing the financial reports.
Bachelor of Commerce - Duration : 3 years
Master of Commerce - Duration : 2 years
Required steps to become a Chartered Accountant
After passing Class 10 examinations from a school recognized by the central government, students can appear for the Common Proficiency Test.
After Class 12 or Senior Secondary Examinations, one has to appear for Common Proficiency Test that is held twice a year - usually in June & December.
After this, students should join an articled training with a Chartered Accountant. Only then, they can register for Information Technology Training[ITT] for 100 hours i.e., after passing CPT & 10+2 Exams.
After completing the ITT Course, students can appear for PCE Exam[Professional Competence Examination] - only if the student has worked with an CA for 15 months, with minimum 3 months prior to exam.
Eight months audit training is on par with 6 months of articled training as per the requirement.
Still preparing for the final exams, they can join the CA Final course - after passing PCE.
It’s better to complete a General Management and Communication Skills Course in the last 12 months of the articled training.
After completing 3.5 years of practical training, they can appear for the final exam.
Now the student will be called Associate Chartered Accountant [ACA, after the eligibility to hold a certificate for public practice, he/she would be a Fellows Chartered Accountant [FCA].
Chartered Accountancy after Graduation
After graduation, one needs to take entrance test in Elements of Accounting, English, Mathematics and General commercial knowledge and Economics. Graduates with 50% marks in Accounting, Auditing and Commercial or Mercantile Law can avoid the entrance test. Other graduates with 55% can also do the same.
Intermediate Examination :
After completing 9 months articled or audit clerks and the oral/postal tuition by the Board of Studies, students can take the Intermediate Examination. The Examination has the following subjects.
* GROUP I: Accounting, Law, and Auditing
* GROUP II: Cost accounting, Income-Tax & Central Sales Tax, Organisation & Management and Fundamentals Of Electronic Data Processing
Final Examination :
After passing the Intermediate Examination and the prescribed period of practical training for 3 years, students can take the final examination in the following groups.
* GROUP I: Advance Accounting, Management Accounting, Auditing and Company Law
* GROUP II: Direct Tax Laws, Corporate Management, Secretarial Practice, Managerial Economics and National Accounting Operational Research and Statistical Analysis, System Analysis and Data Processing, Costs Systems and Cost Control Management Information and Control Systems, Tax Planning and Tax Management, Management and Operational Audit.
Career Opportunities for Accountancy
* Commerce graduates can work in finance companies, educational institutions, Industries, Capital markets
* Chartered Accountants can have their own office for auditing or they can work in capital markets, industries etc. They can involve in activities such as preparing project reports, budget planning, cost accounting, inventory control, policy planning etc.