ACCOUNTANCY COURSES IN INDIA
|Courses in India
In Accountancy there are traditional courses like B.Com and M.Com offered by Colleges and Universities in India. Professional course is Chartered Accountancy course, which is conducted by the Institute of Chartered Accountants of India, having its Headquarters in New Delhi, 5 regional offices (Calcutta, Kanpur, Madras, Mumbai and New Delhi) and 81 branches under these regional centres. In order to become a member of this Institute, a candidate needs to Pass the intermediate and final examinations of the institute. Register themselves as an articled or audit clerk with a practising CA. Details are given below.
Accountancy Courses offered by Universities in India
C.A Accountancy Course
C.A Foundation Course
For those just completing their XII, they can opt to start with the Foundation Course. After +2 - The Foundation course Introduced by the Institute of Chartered Accountants of India, this course was created for candidates passing their 10+2 with any subject but can be taken along with graduate/post-graduate studies (eligibility rules vary). It is a 1-year programme done through correspondence. Once a student registers, they are sent the study materials and he/she has the option of either self-study or attending classes organised by accredited institutions (thereby, exempting themselves from taking test papers under the postal tuition scheme). At the end of the study/course period of 12 months, a foundation examination is given in four 3-hour papers in Fundamentals of Accounting, Economics, Mathematics, Statistics and Mercantile Law. On passing this examination, candidates can apply for articleship with a practicing CA.C.A Article (apprentice)
Once the foundation examination is given, candidates can register for training as an Article (apprentice) with experienced CAs. Certain rules do apply - CAs with 16 years of experience and above can take on about 8 articles, those with less experience can train fewer articles and these teachers or 'Principals' as they are called, can be changed during the course of training. An agreement of training needs to be executed before it begins. All articled clerks are paid a stipend depending on their city's population. After about 9 months, they can take the Intermediate Examination of the Board of Studies and then later on, after clearing the exam, can go for the industrial training in their last year of articleship.
Final exams are generally given in the last year. Another option for those going through practical training is to work under an audit clerk - which does not require the agreement of training. This provides a faster route for bright students to move through the different stages of the profession. Depending on the location of the firm, the audit clerks have to be paid by the CA or firm of chartered accountants.
Intermediate Examination - It is essential that students give their intermediate exam within 10 years of completing their practical training, but if they serve under article for a further duration on one year and go through postal tuition, they can receive a fresh lease.
The main part of the postal tuition scheme is answering test papers in different subjects and these tests need to be given before appearing for the inter examination. Apart from this, students also need to enroll in the Sunday test scheme and give their tests at different centres supervised by the Institute. This is open to students from Ahmedabad, Bangalore, Calcutta, Coimbatore, Delhi, Hyderabad, Jaipur, Kanpur, Madras, Mumbai, Poona and Salem. Students from cities other than the mentioned ones are required to qualify in minimum 16 papers and submit them under the postal tuition scheme.
Once 9 months of training and the oral/postal tuition scheme have been completed, students can take the Intermediate examination in the following subjects :- Group I Group II Accounting Mercantile, Company Law & Industrial Law Accounting & Elements of Income-tax Law Business Mathematics Cost Accounting Organisation & Management Economics Auditing
After passing the intermediate examination, candidates can serve in a financial, commercial or industrial project as part of the training. This training ranges from about 9 months-1 year.
Group I and Group II Candidates may choose from the following subjects - Advanced Accounting, Direct Tax Laws, Combination A : Corporate Management, Managerial economics and National Accounting, Secretarial Practice and Management Accounting, Combination B : Operational research and Statistical Analyses, Systems Analyses and Data Processing, Cost Systems and Cost Control Auditing Combination C : Management Information and Control Systems, Tax Planning and Tax Management, Management and Operational Audit and Company Law
On completion of the training, the candidates need to gain membership to the ICAI before they can start practicing as a CA. A member wishing to practice in India or abroad needs to obtain a Certificate of Practice from the ICAI. Once membership is taken, the practicing member cannot work in any other business or occupation without taking permission from the council; they are only permitted to work in areas as specified in the CA regulations. More information on enrollment or the examinations can be requested from the Institute's offices or the Headquarters at Indraprastha, New Delhi OR the Board of Studies, C1 - Sector 1, Noida - 201301.
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