Written By Lovely| Edited By Varsha & Adi | Updated on 27th June, 2024
When kids start choosing commerce subjects in Grade 9 or 11, we parents or even the students themselves, often think about future careers in fields like CA, BBA, or the banking sector, right? But when it comes to understanding exactly what a CA is, what its full form is, and its significance, things can get a bit unclear.
So, let’s dive into the details together. We’ll explain what CA stands for, why it’s important, and what the path to becoming a Chartered Accountant involves.
CA stands for Chartered Accountant. Becoming a Chartered Accountant (CA) is tough, but it leads to a great career, a good salary, and lots of respect. People admire Chartered Accountants not just for their title or pay, but because it’s hard to become one. If you want to know more about what a CA is and why it’s important, you’re in the right place. Here we have covered every aspect of education options. Let’s dive into what makes being a CA special. Ready? Let’s get started!
Quick Summary
Decoding CA Full Form and it’s details –
- What is CA full form
- CA course overview
- Advantages of CA
- CA Eligibility Criteria
- CA Course Subjects
- Top 3 CA Colleges in Bangalore
- CMR University School of Legal Studies
- St. Claret College
- International School of Management Excellence
- CA Career, Scope, Job Profiles, and Recruiters
- Conclusion
- FQAs
Our Selection Proces
1. What is CA full form?
CA stands for Chartered Accountant. Chartered Accountants are professionals who are members of organizations like the Institute of Chartered Accountants of India (ICAI). The term “Chartered Accountant” comes from the first professional accounting group to form an official body.
2. CA course overview
- The Government of India accepted a report and passed the Chartered Accountants Act in 1949, even before India became a republic. The CA course is a professional qualification for accounting experts in India, covering skills in accounting, auditing, taxation, financial management, and general management. Graduates of the CA course can provide many financial and business advisory services to organizations and individuals.
- India has over 80 top CA colleges, with around 15 located in Bangalore. After 12th grade, students can choose from more than 60 privately-owned colleges, 5 government-owned colleges, and 2 semi-government colleges to pursue their CA studies.
3. Advantages of CA
1. Various Job Titles
Accountants can work in many different roles, such as-
- Staff Accountant
- Investment Accountant
- Certified Public Accountant (CPA)
- Cost Accountant
- Forensic Accountant etc.
2. Work in Different Industries (Public & Private Sector)
Accountants can find jobs in almost any industry, from tech companies to farms. This means they can choose the type of industry they want to work in and even switch industries if they want to.
3. Specialize in Specific Areas
Accountants can focus on areas like:
- Bookkeeping
- Taxes
- Payroll Services
- Consulting They can also specialize in fields like manufacturing, finance, government, management, or insurance.
Good Income
Accountants usually earn a good salary. In India, the starting salary for a CA is around INR 3 lakhs per year, with many opportunities for higher pay.
Good job security
Every organization and business needs an account to oversee its finances, so accounting positions are constantly in-demand in nearly every industry. The demand for accountants is very consistent and offers great career longevity and job security for these professionals.
Travel
Some accountants have the opportunity to travel as a regular part of their job. For example, an accountant may have clients in various cities and must travel to work with each client. Traveling is typically up to the individual accountant.
Solid job availability
There is always a need for accountants, which means there are always available accounting jobs. A few of the most in-demand accounting positions include staff accountant, auditor, financial analyst, bookkeeper and controller.
Prestige
Many accountants enjoy respectable careers that provide them with relevant skills that can be utilized in a variety of professions and industries. Businesses and organizations often hold accountants in high regard, thanks to these professionals’ core values and skill set.
A better understanding of finances
Accountants have the understanding of finances that most people pay them for. This understanding can come in handy in a variety of situations, such as when choosing what stock to invest in or when filing your annual taxes. Plus, the skills that accountants possess are often transferable to other job professions should you decide to change your career in the future.
4. CA Eligibility Criteria
- After passing both groups of the Intermediate exam, an aspiring Chartered Accountant must enroll in a 2-year practical training period, known as an articleship, with a registered chartered accountant. Upon completing this articleship, the aspirant is eligible to sit for the CA final exam six months later.
- Passed the MIA Qualifying Examination (QE) and gained 3 years of working experience in the service of a Chartered Accountant or in a government department, local authority or other commercial, financial, industrial or professional organisation or any other undertaking approved by the MIA Council.
5. CA Course Subjects
The CA course has three main levels: CA Foundation, CA Intermediate, and CA Final.
| CA Foundation Course | Paper 1 | Principles and Practices of Accounting |
| Paper 2 | Section A: Business LawsSection B: Business Correspondence and Reporting | |
| Paper 3 | Part 1: Business Mathematics and Logical Reasoning PartPart 2: Statistics | |
| Paper 4 | Part 1: Business EconomicsPart 2: Business and Commercial Knowledge | |
| CA Intermediate Course (Group I) | Paper 1 | Accounting |
| Paper 2 | Corporate Laws and Other Laws | |
| Paper 3 | Cost and Management Accounting | |
| Paper 4 | Taxation | |
| CA Intermediate Course (Group II) | Paper 5 | Advanced Accounting |
| Paper 6 | Auditing and Assurance | |
| Paper 7 | Enterprise Information System and Strategic Management | |
| Paper 8 | Financial Management and Economics for Finance | |
| CA Final Course (Group I) | Paper 1 | Financial Reporting |
| Paper 2 | Strategic Financial Management | |
| Paper 3 | Advanced Auditing and Professional Ethics | |
| Paper 4 | Corporate and Economic Laws | |
| CA Final Course (Group II) | Paper 5 | Strategic Cost Management and Performance Evaluation |
| Paper 6 (Electives) | Paper 6A: Risk Management | |
| Paper 6B: Financial Services and Capital Markets | ||
| Paper 6C: International Taxation | ||
| Paper 6D: Economic Laws | ||
| Paper 6E: Global Financial Reporting Standards | ||
| Paper 6F: Multidisciplinary Case Study | ||
| Paper 7 | Direct Tax Laws and International Taxation | |
| Paper 8 | Indirect Tax Laws |
6. Top 3 CA Colleges in Bangalore
1. CMR University School of Legal Studies
Location: Chikka Banaswadi Rd, Bhuvanagiri, Lakshmamma Layout, Banaswadi, Bengaluru
The CMR University School of Legal Studies, formerly known as CMR Law School, is a prominent law school in Bangalore, Karnataka, India. Approved by the Bar Council of India, it is a constituent college of CMR University, Bangalore. The school was ranked tenth in Outlook India’s “Top 30 Private Law Colleges in India.”
2. St. Claret College
Location: MES Ring Rd, Sharadhamba Nagar, Jalahalli, Bengaluru,
- St. Claret College (SCC) in Bengaluru, India, was founded in 2005 by the Claretian Missionaries. Affiliated with Bangalore University and accredited with an A+ grade by NAAC, SCC was granted autonomy by the UGC in 2024.
- SCC offers undergraduate courses in Commerce, Management, Science, Computer Science, and Humanities, as well as postgraduate programs like MBA, M.Sc. in Psychology, M.Com, and MSW.
- The Training & Placement Centre (TPC) at SCC helps students secure jobs by providing training in aptitude, resume building, group discussions, technical skills, and interview techniques.
3. International School of Management Excellence
International School of Management Excellence (ISME) is a business school in Bangalore, India, founded in 2006 by K. G. Garg. It is privately run by the NVT Quality Education Trust and approved by the All India Council for Technical Education (AICTE).
ISME has academic partnerships with the University of North Carolina (USA), Thunderbird School of Management at Arizona State University (USA), FHWS (Germany), the University of New Castle (Australia), the Singapore Institute of Management, and MDIS (Singapore). In 2022, ISME received the Bangalore Management Association’s award for Top B School in Bangalore for Academic Excellence.
7. CA Career, Scope, Job Profiles, and Recruiters
CA Career
Whether in private or government sectors, CAs play a crucial role in shaping the financial success of firms, individuals, and communities worldwide. The CA Course Scope is very high as it offers a promising career, with various organizations providing attractive job opportunities and competitive packages.
CA Scope
CAs can serve as tax specialists for the Indian Revenue Service, which is an entry-level officer role. A CA may also have the opportunity to work with the Enforcement Directorate, which conducts raids for money laundering and other financial offenses. CAs have a wide range of applications in forensic accounting.
CA Job Profiles
CA graduates can go for different profiles like
- Auditing
- Accountant,
- Investment Banking
- Corporate Manager
- Tax Manager.
CA Recruiters
Top recruiters for Chartered Accountants include prominent firms such as Deloitte, KPMG, PWC, and BDO International, among many others. These companies offer excellent career opportunities for CA professionals.
FAQs
- Can a person file his ITR file without help from a CA?
Yes, individuals can file their Income Tax Returns (ITR) without a Chartered Accountant (CA). Many countries offer online platforms or software for self-filing. However, seeking help from a CA may be advisable for complex situations.
- Which are the best CA firms in Bangalore to do articleship?
Selecting the right CA firm for articleship in Bangalore is crucial for budding professionals. Some of the top choices in the city include Deloitte, PwC, EY, KPMG, Grant Thornton, BDO India, RSM India, and S.R. Batliboi & Co. LLP.
- When will be the last attempt for CA inter before the new course?
The Institute of Chartered Accountants of India (ICAI) had not announced a specific last attempt date for the CA Inter exams before the implementation of a new course. However, it’s common for professional bodies like ICAI to provide sufficient notice to students before making significant changes to examination patterns or syllabi. Therefore, it’s essential for CA Inter students to stay updated with announcements from ICAI through their official website or other reliable sources to know the exact last attempt date for the current course.
Conclusion
To sum up, we’ve explored the world of Chartered Accountants (CA), learning what CA full form stands for and why it’s important in education. We’ve talked about the benefits of studying to become a CA and what you’ll study. Whether you’re thinking about becoming a CA or just curious, we’ve covered a lot to give you a good understanding. If you’re ready to start your journey in accounting, understanding what CA full form means is the first step toward a world of opportunities.
Varsha & Adi
Hi, we are Varsha and Adi, and we’re on a mission to help parents make the right choice for their kids’ education. Picking a school is like a 10-year commitment, and we realized parents needed clear, no-nonsense info. That’s why we created Candid Schools, where you can get the real deal on schools without the fancy jargon. Our goal is simple: to give parents the info they need to make the best choice for their little ones.
