Accountants no longer restrict themselves to preparing balance sheets. They are expected to help clients maximize profits.
Chartered Accountant
Accounting has been undergoing change. New norms and standards are being evolved to meet the changing requirements. As Indian economy grows, the ,number of companies and business establishments are bound to grow. Depending on the size of the organization and nature of business, companies need to employ accountants and auditors to set up and maintain accounting systems and compute taxes. If the organization is larger, accountants and auditors are also expected to provide information relating to costs, expenditures, and taxes which could be used in taking decisions. They are expected to advise the management on wide range of financial matters.
In international companies, accounting professionals should have the necessary expertise in international trade and accounting rules. International companies tend to expand their business through global mergers and acquisitions and accountants are expected to be well-versed with it.
The field of accountancy has over the years branched into two broad streams; Chartered Accountancy, Cost and Works Accountancy.
Chartered Accountancy
The education and practice of chartered accountancy is regulated by Institute of Chartered Accountants of India which was established by Parliament under the Chartered Accountants Act of 1949.
CA Course consists of three sections, namely, Common Proficiency Test- CPT (it was earlier known as Professional Education examination- PE1), Integrated Professional Competency Course- IPCC and the Final examination. In addition to the passing the examinations, candidates should undergo practical training as articled clerks/audit clerks.
Computer Training Programme
Every candidate must undergo 100 hours of Information Technology training. It is compulsory for the candidates who wish to register themselves as auditor clerk. Students can undergo this programme while pursuing CPT or IPCC.
Common Proficiency Test (CPT)
An entry level test, CPT is an objective type test with negative marking. This test is of 200 marks.
ntegrated Professional Competency Course- IPCC
It covers the essential working knowledge of core and allied subjects in the acccountancy profession.
After passing CPT a candidate may enroll for the IPCC. After enrolment, one has to complete nine months of the prescribed study course; the prescribed 35 hours orientation programme; and 100 hours of information technology training before appearing in the examination.
Orientation programme: Personality development, communication skills, office procedures, business environment and general commercial knowledge relating to capital markets, banking and public finance.
There are seven papers in the IPCC examination on subjects such as Accounting, Cost Accounting and Financial Management, Taxation, Auditing And Assurance, and Information Technology and Strategic Management.
A candidate may appear either in any one group or in both the groups simultaneously.
Articled Training
Duration: 3 years. It can be started after passing Group I of IPCC. During articleship one would be attached to a practicing chartered accountant and can receive a monthly stipend also. Also there is an option to spend 9-12 months as a trainee in an approved industrial establishment, during the last year of practical training.
Final Examination
After passing IPCC, one can enter the final course. The candidate has the liberty to appear in the final examination while serving the last six months of the articled training. The curriculam focuses on areas such as financial reporting, strategic financial management, advanced management accounting etc.
After passing the final examination, candidates have to undergo a short programme on General Management and Communication Skills.
Eligibility
After completing +2 or equivalent programme in science, commerce or arts, the aspirant can specialise in Chartered Accountancy and/or Cost and Works Accountancy.
Admission
A student who has passed the Class 10 examination may register for Common
Proficiency Test
A registered student may appear in Common Proficiency Test after he has appeared in the Senior Secondary Examination (10+2 examination).
A student who has got himself registered for Common Proficiency Test 60 days prior to the first day of the month in which CPT examination is to be held can appear in the examination Common. Proficiency Test examinations are usually held in June and December every year.
A student should register with the Board of Studies of the ICAI by submitting the prescribed filled-in form which can be obtained from the addresses given below. The cost of the form is Rs.100. The form can also be downloaded from the website: www.icai.org
The application form is to be submitted in consonance with the address of the student as stated below:
South India
(Andhra Pradesh, Kerala, Karnataka, Tamil Nadu and the Union Territories of Pondicherry and Lakshadweep Islands).
Southern India Regional Council, The Institute of Chartered Accountants of India, ICAI BHAWAN, 122, M.G. Road, Post Box No. 3314, Nungambakkam, Chennai - 600 034
East India (Assam, Meghalaya, Nagaland, Orissa, West Bengal, Manipur, Tripura, Sikkim, Arunachal Pradesh, Mizoram, Andaman-Nicobar Islands).
- Eastern India Regional Council, The Institute of Chartered Accountants of India, ICAI BHAWAN, 7, Anandilal Poddar Sarani,, (Russell Street) Kolkata - 700 071
North India
(Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab and Union Territory of Chandigarh).
-Northern India Regional Council, The Institute of Chartered Accountants of India, ICAI BHAWAN, 52-54, Vishwas Nagar, Delhi 110032
Western India
(Gujarat, Maharashtra, Goa and Union Territories of Daman & Diu and Dadra & Nagar Haveli).
-Western India Regional Council, The Institute of Chartered Accountants of India, ICAI BHAWAN, "Anveshak" 27 Cuffe Parade, Colaba, Post Box No. 6081, Mumbai- 400 005
Central India
(Uttar Pradesh, Bihar, Madhya Pradesh, Rajasthan, Uttaranchal, Chhatisgarh and Jharkhand).
- Central India Regional Council, The Institute of Chartered
Accountants of India, ICAI BHAWAN, Post Box No. 314,
16/77B, Civil Lines, Kanpur - 208 001
List of Institutes
Branch of SIRC of the ICAI, Cherootty Nagar, Eranhipalam P.O., Near Planetarium;
Calicut Branch of SIRC of the ICAI, 57/3146, Diwan's Road, Ernakulam
Shree Narayana College, P.O. Thottada, Kannur
Branch of SIRC of the ICAI, "ICAI Bhawan", IX/569, Sakthan Thampuran Nagar, Near Heart Hospital, Trichur
Branch of SIRC of the ICAI, P.B.No. 416, T.C.41/401, Kollam, Pound Road, Thycaud, Thiruvananthapuram
Branch of SIRC of the ICAI, "ICAI Bhawan", Pallithottam, Kollam
Andra Pradesh Badruka Institute of Professional Studies, Badruka College Campus, Kachiguda Station Road, Kachiguda, Hyderabad
Pragati Maha Vidyalaya Degree and P.G. College, Kandaswamy Lane, Hanuman Tekdi, Hyderabad
Coimbatore Branch of S.I.R.C. of I.C.A.I. M.S.S. Memorial Building, 8, D.B. Road, R.S. Puram, Coimbatore -641 002
Loyola College, Sterling Road, Nungambakkam, Chennai- 600 034
PSG College of Arts & Science, Civil Aerodrome Post, Coimbatore - 641 014
Branch of SIRC of the ICAI, 9E, Ramakrishna Road, Salem - 636 007
Branch of SIRC of the ICAI, 122, Utthamar Gandhi Salai, Post Box No.3314, Chennai- 600 034
চাকরির বাজার
Accounting jobs are available in all sectors of business such as advertising, manufacturing, banking, media, public service, financial consultancies, etc. However, those with entrepreneurial drive could have their own private practice. Over a period of time, they can climb the corporate ladders to become Finance Managers, Financial Controllers, Financial Advisors or Directors (Finance).