5 Proven Ways of Becoming a Chartered Accountant in India

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India a land of business owners provides the young generation with numerous career options in this field. One such field which is also said to be the “king of career” is Chartered Accountant (CA).

CA are certified accounting professionals. In India, chartered accountants are licensed and regulated by the Institute of Chartered Accountants of India (ICAI). It is full of high-paying jobs with significant growth potential and a promising future, especially for commerce students.

And if are among those who are confused about how to become a Chartered Accountant in India then my friend you are in the right place. This guide will answer all your questions about the process and 5 proven ways of becoming a Chartered accountant in India. So, kindly go through this article carefully.

Table of Contents

1. An Overview of CA in India
2. Duration of becoming a CA in India
3. 5 proven Ways of Becoming a Chartered Accountant in India
4. Conclusion
5. Frequently asked questions (FAQ)

An Overview of CA in India

There are two ways to become a CA in India.

• The first is through the foundation route, which you can apply for after completing your 12th grade. A candidate who wishes to become a CA in India after 12th grade must register with the ICAI Board of Studies (BoS) and complete a four-month study period before sitting for the CA Foundation exams in the following session.

After passing the CA Foundation exam, the next step is to pass the CA Intermediate exam, which will qualify you for the final round of your CA exams.

• And the second route to becoming a CA in India is through the Direct entry route where a candidate is exempted from giving CA Foundation Exams. Anyone who chooses this option needs to clear only 2 exams, i.e., the CA Intermediate exam and the CA finals in order to be a CA in India.
• The following candidates are eligible for the Direct entry route

1. Graduated or post-graduated from the commerce stream with a minimum of 55% marks.
2. Graduated or post-graduated from other streams with a minimum of 60% marks.
3. Candidates who have passed the CMA Intermediate conducted by the Institute of Cost Accountants of India (ICMAI)
4. Candidates who have passed the CS Executive conducted by the Institute of Company Secretaries of India (ICSI)

Duration of becoming a CA in India

The Chartered Accountancy course is well-known for its difficulty; becoming a Chartered Accountant takes years. But they are also regular people who completed all of the levels in one sitting while maintaining a positive attitude. So, don’t be discouraged by the time frame because everything good takes time, and it’s not the case for all aspirants. So, keep a positive attitude and allow it to carry you through.

• It will take around 5 years for the candidates willing to become a CA in India after the 12th through the foundation route.
• It will take around 4 years for those candidates who enroll in Intermediate courses through direct entry.

5 Proven Ways of Becoming a Chartered Accountant in India

• Is it really something you want?

Becoming a CA is a four-year commitment that requires a lot of hard work and practice. Despite being one of the most difficult courses in the world, it is possible to complete it with perseverance and dedication.

However, before you begin this career, you should be very clear about ‘why you actually want to become a CA’ and also ‘if it really something you want,’ as the answer to this question will help you to stay motivated throughout this time-consuming journey.

Because many people embark on this journey solely for the sake of fame and fortune, only to regret it later. Along with huge status and fame, it comes with great dedication and responsibility.

• Regular studies

The ultimate key to any success is regularity. If you truly want to be a CA, you must devote long hours to studying with complete concentration and dedication. Here are some pointers to help you with your studies-

• Before starting your preparation go through the syllabus to get an idea about what the CA exam demands from you. Also, an idea of the syllabus and pattern will help you to be on track.
• Try to make a proper schedule and divide the chapters appropriately in order to cover this extensive syllabus on time and in a systematic manner.
• Don’t try to memorize things, rather try to clear the concepts.
• Try to enroll yourself in some good coaching classes such as Physics Wallah where they have a group name CHANAKYA, especially for the CA aspirants.
• When you believe you are ready for the exam, begin giving as many mock tests and previous year questions as possible. This will boost your confidence while also highlighting your weaknesses.
• Be aware of the current situation ( In direct and indirect taxes)

Knowing about the current scenario is a bonus to your preparation. Always keep up to date on national and international incidents and changes made by the government in direct and indirect taxes, as this is critical for CA aspirants. You can follow various sources for this information such as-

1. Newspapers

• Business lines
• Economic times

2. Magazines

• The wall street journal
• The CA
• The economic times
• Big4

3. Internet

New channels

• Keep faith in yourself

One of the important things throughout your journey is to keep faith in yourself and trust your instinct as there will be numerous times when you feel like you are off track during this journey as it is not a matter of 1 to 2 years but of 4 to 5 years.

Try to trust your instincts and keep working hard. Also, avoid burnout and don’t let others’ preparation or schedules demotivate you because everyone is different in terms of ability and capacity. Don’t be afraid of failure; keep working hard even if you fail once, and believe in yourself.

• Give your 100%

One important thing you should keep in mind is that you have to give your 100% in whatsoever you are up to. In simple words, always try to perform the following perfectly as it will definitely lead you to success.

Giving your all in your preparation is just as important as giving your all in your answer sheet because this sheet will reflect your hard work and dedication. Try to answer the questions in a perfect and organized manner. Also, avoid attempting incorrect answers in the foundation exam because they have negative markings that can affect your overall score. Finally, try to remain calm and confident in your preparation.

Conclusion

Apart from the proven ways of becoming a chartered accountant (CA) in India, an aspirant should keep in mind that this is a slow process that requires patience and dedication throughout the journey. And, before you begin your preparation, you should have a clear mindset about why you truly want to be a CA, because there will be many times when you feel tired or bored, and the answer to this question will help you stay motivated.

Another critical point is to prioritize your health alongside your studies, as this lengthy process necessitates a clear mind to understand things.

Finally, try to remain calm in your final hour, as this will be crucial in this exam. Many brilliant students fail because they are unable to give their best effort in the exam due to stress and anxiety. Maintaining a positive attitude will significantly assist you.

Frequently asked questions (FAQ)

1. Is it necessary to be a commerce student in order to become a CA?

Ans- No, anyone from any background or stream is qualified to become a CA. However, it is a bonus if you are a student of commerce.

2. How many attempts will I have to be a CA?

Ans- There is no restriction on how many times you may try. An individual can attempt this exam as many times as he wants. However, you need to note that the registration is only valid for three years, during which you can make six tries. After the initial registration term, you must renew your registration to try again.

3. Can I become a CA without coaching?

Ans- It depends on the individual as everyone is different in terms of ability and capacity. However, having coaching will keep you on track and will save you time as well as your doubts.

4. Which is the best coaching institute for the CA foundation exam?

Ans- Physics Wallah, India’s most loved ed-tech platform provides you with the best study materials and some highly qualified mentors at an affordable fee. It has a group called CHANAKYA for CA candidates, as well as a YouTube channel called ‘CA Wallah’ for online lectures, practice tests, and doubts.

5. Is there any age limit?

Ans- No age limits for the CA examination. An individual can attempt this exam any time they feel like they are ready.

6. Is it important to practice the previous year’s question papers?

Ans- in order to score well you need to be familiar with the question pattern of the previous year. Due to its vast syllabus, it is quite impossible to cover each and every topic. So, previous year’s papers will help you to understand the weightage of the topics and you can prepare accordingly.