Can I Complete CA in 3 years?

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Jobaaj
Posted Date: 10 Apr 2022
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It seems a clear close-ended question but the answer to it is not as simple. For starters, a simple ‘Yes’ would suffice.

However, opting for such a path ensues some technicalities involved due to which I encourage you to read this to the end and get a clear understanding of how exactly could you complete your CA in 3 years. (If that is at all possible)

The CA is a professional course that provides students with the technical knowledge needed to manage finance, accounting, and taxation for an organization or any commercial business. Chartered Accountancy is a social responsibility in which individuals are respected by the public, corporate firms, government authorities, and other economic pillars. 

Chartered Accountants (CA) are the most prestigious experts on the subject of business and finance, with a reputation for having one of the highest levels of professional integrity in the country.

At the same time, becoming a CA is still one of the toughest nut to crack in the Indian competitive scenario.

And above that, if you aspire to complete your CA certification in less than the average amount of years it takes students to become CAs, then the road is surely going to be hard.

Let’s get some depth first!

CA course, its duration, and other important factors

CA course is solely conducted by ICAI and it is one of the most prestigious courses in the world as it weighs down the shoulder of candidates with great responsibilities.

The respect that comes with being a CA also comes with a great deal of monetary compensation.

Coming back to the question at hand, “Could you complete CA in 3 years?”

Well here’s how!

Different ways to pursue the CA path? 

There are two ways to get admission to the CA course and that is what makes all the difference. 

ICAI provides two windows for candidates to take admission in the course and these two windows are, 

  • CA foundation entry. 
  • CA direct entry. 

CA foundation entry

You can pursue a CA course after passing your class 12th exams in any stream by passing the CA Foundation exam. This is amongst the most popular routes for pursuing the CA path.

CA direct entry

If you are wondering how to pursue CA after graduation or PG course, then enrolling in the CA IPCC course is the best option. If a candidate has a degree in commerce, they must have at least a 55 percent grade point average. Alternatively, applicants with at least 60% in their UG course are eligible to apply for this level.

A candidate has to appear for CA foundation program which is necessary to appear for IPCC Group 1  and the difference between the two is of 9 months. On the other hand in the case of a direct entry, there is no requirement for CPT and IPCC group 1. The candidate can join the article ship directly if he has completed his graduation. And that will be of 3 years duration only. 

So to answer the concerning question, yes, you can do CA in 3 years but there are some technicalities.

Read more about ICAI's global recognition.

 

 

The above picture depicts the scenario more clearly about the duration of CA as it can be done in 5 years and also in 3 years. 

The schedule for exams

The CA exams in India is conducted by the ICAI and consists of three names: CA Foundation, IPCC, and CA Final. To become a professional in this field, candidates must pass all of the CA exams. If you want to pursue Chartered Accountancy in India, you must first enroll in the ICAI's CA course. The CA course in India is divided into three levels:

  • CA Foundation
  • CA IPCC
  • CA Final

CA exams are held twice a year, in May and November, by the ICAI. In India, it takes 4 to 5 years to become a CA, including a mandatory period of Articleship. The ICAI allows organizations to pursue a CA course after completing class 12th as well as after graduation, but only if they have previously completed a relevant course. It was also recently announced that candidates who have completed class 10th can apply for the chartered accountant's course.

There is no maximum duration of the Chartered Accountancy Course because the restriction on the maximum number of attempts has been removed, and a person can appear for the exams regardless of his age or the number of times he has previously appeared for the CA Exams. 

Skills to be a CA 

Now that you are familiar with the full form of CA and have a basic understanding of the course journey, let us take a quick look at the important skills that one must have to become a CA- 

  • Deliverance and perseverance
  • a talent for numbers
  • Understanding of concepts
  • Analytical abilities Capability to handle multiple tasks under pressure

It should be noted that perhaps the CA Course is a self-study course, and the student is not required to attend any classes in order to complete it. However, if the student wishes to take classes, he can do so through ICAI or through any other CA Coaching Teacher. 

That's about it. I hope yu find this useful. 

Also check out this piece on, what are the job prospects like for a CA plus CFA.

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