A Guide to Becoming a Chartered Accountant (CA) after 12th in the New Course 2023

Are you a commerce student aspiring to become a Chartered Accountant (CA)? Pursuing a career as a CA can be a lucrative and rewarding choice. The Institute of Chartered Accountants of India (ICAI) has recently introduced a new course structure for aspiring CAs, which will be applicable from 2023 onwards. In this blog, we will guide you through the steps to become a CA after completing your 12th grade in the new course.

Structure the new course structure introduced by ICAI aims to enhance the skills and knowledge of aspiring CAs. Here are the key features of the new course:

  • Foundation Course: The foundation course has replaced the Common Proficiency Test (CPT) and is the entry-level examination for the CA course.

It consists of four papers –

 Paper 1 – Accounting.

 Paper 2 -Business Laws.

Paper 3 –Quantitative Aptitude -Business Mathematics, Logical Reasoning , Statistics.

Paper 4 – Business Economics.

  • Intermediate Course: Upon clearing the foundation course, you will need to complete the intermediate course.

This stage is further divided into two groups –Group I and Group II. Each group consists of three papers.

 Group I includes

Paper 1 – Advanced Accounting

Paper 2 – Corporate Laws and Other Laws

 Paper 3 – Taxation

Section A – Income –tax Law

Section B- Indirect Taxes

Group II includes

 Paper 4 – Cost and Management Accounting

Paper 5 – Auditing and Ethics

Paper 6A – Financial Management

 Paper 6B – Strategic Management

  •  Practical Training: After clearing either Group I or both groups of the intermediate course, you must complete a practical training period of two years. Complete Integrated Course on Information Technology and Soft Skills [ICITSS] before commencement of Practical Training [PT]. During this period, you will gain practical exposure in various aspects of accounting, auditing, taxation, and other relevant fields.
  •  Final Course: Once you have completed the practical training, you can enroll for the final course. Similar to the intermediate course, the final course is also divided into two groups.

Group I

Paper 1- Financial Reporting

Paper 2- Advanced Financial Management

 Paper 3- Advanced Auditing Assurance and Professional Ethics

 Group II

Paper 4 – Direct Tax Law and International Taxation

 Paper 5 – Indirect Tax Law Paper

 6- Integrated Business Solutions [Multi- disciplinary case study involving Papers 1 to 5 at the final

level along with Self – Paced Online Modules Sets A and B and Strategic Management]

  • Articleship: Alongside the final course, you will need to undergo a mandatory articleship of two years under a practicing CA. This period will provide you with practical exposure and experience in various areas of accounting and auditing.
  • Final Examination: After completing the final course and articleship, you can appear for the final examination. This examination is the last step in becoming a CA. It comprises both theoretical and practical papers based on the subjects covered in the final course.

Step-by-Step Guide to Becoming a CA in the New Course 2023

 Now that you have a clear understanding of the new course structure, here’s a step-by-step guide to becoming a CA after completing your 12th grade:

 1. Choose Commerce Stream: Opt for the commerce stream in your 10+2 education, as it provides a strong foundation for CA studies.

2. Register for Foundation Course: Register with ICAI for the foundation course after completing your 12th grade. The registration process usually begins in the month of May/June.

 3. Prepare for Foundation Course: Start preparing for the foundation course by studying the prescribed textbooks and reference materials. Joining coaching classes can also be helpful in understanding the concepts and preparing for the exams. Agarwal Coaching Centre is best for foundation course coaching.

 4. Appear for Foundation Course Exam: Once you feel confident in your preparation, appear for the foundation course examination conducted by ICAI. The exam is held twice a year, in May and November.

5. Clear Intermediate Course: After clearing the foundation course, enroll for the intermediate course and complete both Group I and Group II exams. Take advantage of coaching classes, self-study, and practice papers to enhance your knowledge and skills.

6. Undergo Practical Training: After clearing either Group I or both groups of the intermediate course, commence your practical training, including Information Technology Training and Articled Training. Register with a practicing CA to fulfill the articleship requirement.

7. Register for Final Course: Once you have completed the practical training, register for the final course with ICAI.

8. Prepare for Final Course: Study the prescribed textbooks and reference materials for the final course. Joining coaching classes or online courses can be beneficial in your preparation.

9. Complete Articleship: Simultaneously with the final course, complete the mandatory three-year articleship under a practicing CA. Gain practical exposure and experience in various areas of accounting, auditing, and taxation.

10. Appear for Final Examination: After completing the final course and articleship, appear for the final examination conducted by ICAI. Clearing this examination will qualify you as a Chartered Accountant.

11. Membership of ICAI: After successfully passing the final examination, apply for membership with ICAI. Once your membership is approved, you will officially become a Chartered Accountant.

The path to becoming a chartered accountant is a rewarding and challenging path that requires dedication, hard work and determination. You will not only acquire technical knowledge, but also valuable practical experience. As a CA, you’ll be ready to take on a variety of roles in finance, accounting, auditing and more, opening up a world of exciting career opportunities. So if you want to make a significant impact in the world of finance, grab this opportunity and start your journey to becoming a chartered accountant.

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