A career in accounting can be both challenging and rewarding, offering a sense of satisfaction and financial security. However, becoming a certified accountant (CA) requires dedication, hard work, and a clear understanding of the process. In this article, we will take you through a step-by-step guide on how to become a certified accountant, from scratch to CA.
Step 1: Meet the Basic Requirements
To become a CA, you must meet the basic requirements set by the Institute of Chartered Accountants of India (ICAI). These include:
- A bachelor’s degree in commerce or a related field
- A minimum age of 17 years
- A minimum aggregate of 55% in 10th and 12th standards
- A minimum aggregate of 60% in graduation
Once you meet these basic requirements, you can move on to the next step.
Step 2: Register with the ICAI
The next step is to register with the ICAI. You can do this by filling out the registration form and submitting it along with the required documents, such as:
- A copy of your degree certificate
- A copy of your mark sheets
- A passport-sized photograph
- A demand draft of Rs. 1,000/- as registration fee
Once you register with the ICAI, you will receive a registration number, which is mandatory for all subsequent steps.
Step 3: Clear the Common Proficiency Test (CPT)
The CPT is an online test that consists of 200 multiple-choice questions, divided into four sections:
- Accounting Standards
- Business Laws
- Business Correspondence and Reporting
- Elementary Statistics
The test is designed to assess your basic knowledge of accounting and finance. You can appear for the test multiple times until you clear it.
Step 4: Clear the Integrated Professional Competence (IPC) Exam
The IPC exam is a comprehensive test that assesses your knowledge and skills in various areas of accounting and finance. The exam consists of 8 papers, divided into two groups:
- Group A: Accounting and Auditing
- Group B: Financial Management and Taxation
You can appear for the exam multiple times until you clear it.
Step 5: Complete the Articleship
After clearing the IPC exam, you need to complete a 3-year articleship with a practicing chartered accountant. This is a hands-on training program that helps you gain practical experience in accounting and finance.
Step 6: Clear the Professional Competence Course (PCC)
The PCC is an online test that assesses your knowledge and skills in various areas of accounting and finance. The test consists of 8 papers, divided into two groups:
- Group A: Accounting and Auditing
- Group B: Financial Management and Taxation
You can appear for the test multiple times until you clear it.
Step 7: Obtain the Certificate of Practice (COP)
After clearing the PCC, you need to obtain the COP from the ICAI. This certificate is mandatory for practicing as a chartered accountant.
Conclusion
Becoming a certified accountant requires dedication, hard work, and a clear understanding of the process. By following the steps outlined in this article, you can achieve your goal of becoming a CA. Remember to stay focused, persistent, and committed to your goal, and you will be well on your way to a successful career in accounting.
FAQs
Q: What is the eligibility criteria for becoming a CA?
A: The eligibility criteria for becoming a CA include a bachelor’s degree in commerce or a related field, a minimum age of 17 years, a minimum aggregate of 55% in 10th and 12th standards, and a minimum aggregate of 60% in graduation.
Q: How do I register with the ICAI?
A: You can register with the ICAI by filling out the registration form and submitting it along with the required documents, such as a copy of your degree certificate, a copy of your mark sheets, a passport-sized photograph, and a demand draft of Rs. 1,000/- as registration fee.
Q: How do I clear the CPT?
A: You can clear the CPT by appearing for the online test and scoring a minimum of 50% marks. You can appear for the test multiple times until you clear it.
Q: How do I clear the IPC exam?
A: You can clear the IPC exam by appearing for the test and scoring a minimum of 50% marks in each paper. You can appear for the test multiple times until you clear it.
Q: What is the articleship program?
A: The articleship program is a 3-year training program with a practicing chartered accountant, which helps you gain practical experience in accounting and finance.
Q: What is the PCC?
A: The PCC is an online test that assesses your knowledge and skills in various areas of accounting and finance. You can appear for the test multiple times until you clear it.
Q: What is the COP?
A: The COP is a certificate that is mandatory for practicing as a chartered accountant. You can obtain the COP after clearing the PCC.