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What Subjects Needed to Become A CA in India

What Subjects Needed to Become A CA in India

By Smart Learning Destination, 02-01-2024

Becoming a Chartered Accountant makes you stand out. It requires a special set of skills, lots of hard work, and dedication—it's no walk in the park. This article covers the subjects you need to study in 2024 to become a Chartered Accountant in India!

Chartered Accountant in India:

Becoming a Chartered Accountant (CA) in India is a respected and well-paying career path. Out of a population of 130 crores, there are only 2.8 lakh Chartered Accountants, showing how exclusive this profession is. The journey to becoming a CA is challenging and requires dedication, hard work, and talent. While it may take years, starting early is crucial for achieving this prestigious designation in the shortest time possible.

Whether you come from a Commerce or Non-commerce background, you can pursue Chartered Accountancy after completing 12th grade. However, many students with a commerce background choose this career because they already have a foundational understanding of subjects like Accountancy.

This article will help you understand how the subjects you choose in 11th and 12th grade can play a crucial role in your pursuit of a Chartered Accountancy career in 2024. It offers insights into the preparatory steps for this challenging yet rewarding journey.

CA Direct Entry Scheme for Graduates in 2024

Subjects Required for Chartered Accountancy in India:

Explore the list of subjects required for pursuing Chartered Accountancy in India in 2024 here:

  1. Commerce With or Without Maths:

Deciding whether to choose Commerce with or without Maths is a common dilemma for students who dream of becoming Chartered Accountants (CAs) in India. Some wonder if they need to study maths for CA and if it would be harder without a maths background. The truth is, anyone can pursue CA, regardless of their academic stream. However, students in the commerce stream often find it more suitable because of the alignment with their subjects, especially accounting.

Advantage in Accounting: Commerce students have an edge as their subjects match the content of the CA entrance test, giving them a strong foundation, especially in Accounting.

Maths in CA Foundation: For commerce students, having maths is like an added advantage, as it is a required subject in the CA Foundation exam. This makes the CA journey relatively smoother for commerce students.

Board Considerations: CBSE or ICSE board students, who usually include maths, are in a good position for CA. On the other hand, state board students have options in commerce, but those not choosing maths might need to put in a bit more effort during CA Foundation preparation.

So, although maths is not compulsory for everyone, having it, especially for commerce students, can make the CA journey more manageable. Board choices also matter, with certain boards naturally aligning better with the CA curriculum.

  1. Science With Maths:

Students from the Science stream who have studied Maths in their 11th and 12th grades often choose the Chartered Accountancy (CA) course, bringing a unique perspective to this financial profession.

Advantage of Maths: The CA Foundation/CPT entrance test focuses a lot on Maths, giving a big advantage to Science students with a Maths background. They can handle Maths and Stats on their own, avoiding the difficulties faced by commerce students.

Self-Study in Maths and Stats: Science students, with a strong foundation in Maths, find it easier to tackle the quantitative aspects of the CA exam without relying too much on mentors or ICAI study materials.

Challenge in Law: Although Law is a challenge for every student, Science students feel more at home with subjects like Accounts and Economics.

Study Period for CA Foundation: Upon enrolling in the CA Foundation course, students get a generous 4-month study period. With proper guidance, this time is enough to grasp the remaining subjects.

Additionally, Science students with a Maths background use their math skills to excel in the CA entrance test, showing that the CA journey is not limited to commerce students. The 4-month study period provides a strategic window to master the diverse subjects of the CA Foundation course.

  1. Science Without Maths:

Although it's not very common, some students from the Science stream who haven't studied Maths in their 11th and 12th grades choose to become Chartered Accountants (CA). This decision comes with its own set of challenges and successes.

Challenges in Accounts and Economics: Students from the Science stream without Maths may find it challenging to study subjects like Accounts and Economics, which are crucial in the CA curriculum.

Additional Struggle for Business Maths: Not having a background in maths adds an extra layer of difficulty, especially when dealing with subjects like Business Maths, Logical Reasoning, and Statistics in CA.

Despite the challenges, there are cases where Science students without Maths become successful Chartered Accountants, securing positions in esteemed companies with competitive packages. Success in this situation requires diligence and hard work, as students need to excel in all four subjects, compensating for the absence of a maths background.

Furthermore, while choosing to become a Chartered Accountant in India from the Science stream without Maths is less common and involves extra challenges, dedicated students have proven that success is possible through persistent effort and a strong work ethic.

4. Other subjects to become a Chartered Accountant in India:

While in college, students in the commerce stream often consider diverse fields like BCA, B.Com, and CA. Even after obtaining degrees like B.Com, some students opt for a career in CA, attracted by the opportunity to reinforce their accounting knowledge and enhance their self-confidence.

In CA classes during college, students come across subjects crucial for this field:

  1. Mathematics
  2. Accounting and Taxation
  3. Financial Accounting
  4. Banking and Finance
  5. Insurance and Banking
  6. Banking Management
  7. Applied Economics
  8. Business Economics
  9. Insurance Management
  10. Tax Procedure and Practice
  11. Information Technology
  12. Computer Application
  13. Advanced Accountancy
  14. Accounting and Finance
  15. Information Technology and its Application in Business

These subjects help create a strong foundation of knowledge, setting the stage for a successful journey in the field of Chartered Accountancy in India. As you move forward in the Chartered Accountancy (CA) profession in India, the Accounting syllabus changes through three main stages: CA Foundation, CA Intermediate, and CA Final courses. 

8 Essential Steps to Become a CA

Let's take a closer look at the CA syllabus at each level:

CA Foundation: CA Foundation is the initial phase toward becoming a Chartered Accountant. The examination for the CA Foundation course occurs biannually, in June and December, under the administration of the ICAI. To enroll in the CA Foundation, students need to successfully complete the 12th grade or an equivalent examination from a recognized board. Additionally, commerce stream students are required to achieve a minimum of 50% marks in their class.

CA Foundation Syllabus:

  1. Principles and Practices of Accounting
  2. Business Law, Business Correspondence, and Reporting
  3. Business Mathematics, Logical Reasoning, and Statistics
  4. Business Economics and Business and Commercial Knowledge

CA Foundation Full Course

CA Intermediate: CA Intermediate is the next level in the Chartered Accountancy journey, comprising two groups, each containing four subjects. To be eligible for the CA Intermediate Exam, students must pass the CA Foundation Exam or hold a graduation degree.

CA Intermediate Syllabus:

  1. Accounting
  2. Corporate and Other Laws
  3. CMA
  4. Taxation
  5. Advanced Accounting
  6. Auditing and Assurance
  7. Enterprise Information Systems & SM
  8. FM Economics for Finance

CA Intermediate Full Course

CA Final: CA Final marks the concluding phase in the path to becoming a Chartered Accountant. To qualify for the CA Final level, students must successfully clear both groups of the CA Intermediate level and fulfill a minimum of 2.5 years of articleship training under a certified firm. The CA Final level comprises two groups, with each group containing four papers.

CA Final Syllabus:

  1. FR
  2. SFM
  3. Advanced Auditing and Professional Ethics
  4. Corporate Laws and Economic Laws
  5. SCM and Performance Evaluation
  6. Electives
  7. DT Laws and International Taxation
  8. Indirect Tax Laws

CA Final Full Course

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