The journey of being the number one in numbers begins full of energy and passion with the first stepping stone of Chartered Accountancy Education: Common Proficiency Test (CPT); comprising of a mixture of theory and objective questions. Any student who has passed Class 10 examination may register for the Common Proficiency Test. However, a registered student can only appear in CA CPT test after he/she has appeared in the 10+2 examination.
CA IPCC is another milestone in the life of CA student, passing an IPCC Exam requires a sincere level of dedication and hard work, It is a decisive phase which determines whether a student has what it takes to be a Chartered Accountant or not. A student who has passed CPT and 10+2 examination or is a commerce/non commerce graduate may join the Integrated Professional Competence Course. After clearing IPCC, the student will have to complete 100 hours ITT Training to polish their Computer and IT Skills.
Now the three years of mentored work experience under an experienced CA, after passing IPCC or even Group I of IPCC .Articleship demands practical application of theoretical knowledge learned during IPCC and the student gains exposure in various fields during the training.
The concluding phase of the chartered accountancy course: CA Final. A student can enroll for CA Final after passing both groups of IPCC. Students can appear for this exam after completion of 3 years of Practical Training. This examination is considered as one of the toughest examination of the world and is very difficult to crack. With the pass rate as low as 5% on an average, even the most talented students find this examination to be difficult .
Chartered accountants work in fields of accounting, including public, management and government accounting. While specific job duties vary greatly within specific positions, many duties shared between CA's include preparing financial reports and documents, maintaining records of investments, reviewing potential financial and providing professional opinions in regards to the fiscal decisions of the firm.
The salary of an accountant can be highly dependent on the size of the organization and the industry or nation of employment. According to May 2015 BLS salary data, most accountants and auditors earned between $41,400 and $118,930. Due to the additional education and training requirements of a CA, job prospects for CA's should be better in comparison to their non-chartered counterparts. Many reputed organizations like Deloitte and other reputed Big 4’s as well other reputed organizations have high demands for qualified Chartered Accountants.
