July 2021 - Meeting Notes

----  July 03, 2021:  Careers as a CA [Chartered Accountant ] -----------------

Speakers: Kameshwar Mishra, Molshree Jain, Anoop Drolia

Attendees: peak time: 30. Screen Shot in the word doc and can be seen on the Video, uploaded to YouTube.

Kameshwar Ji

  1. High level overview of CA – accounting, financial management
  2. Commerce after 12th Grade
  3. 3 areas – at 15 minutes of the video: every country has different names for this profession and certification.

Molshree

  1. Everything is online [ICAI - The Institute of Chartered Accountants of India] icai.org
  2. Resources
  3. Eligibility
  4. TWO ways: about 23rd minute in the video; Foundation Course and Direct Entry route
  5. Onetime Registration fee per level includes study material; Exam fee every time you take exam.
  6. Generally – about 1 lakh over 4 to 5 years. Course is difficult and syllabus is huge. Generally it takes 6 years: 2 objective papers and 2 descriptive papers.
  7. Passing percentage get about 50% and toppers get around 65 %
  8. Main subjects – accounts, law, finance, taxation, auditing
  9. Articleship during study: official period is 3 years and are generally offered with the same firm.
  10. Study Material – Official is issued, old papers, they also conduct online coaching; many private institute are also there. Practical experience is very useful for passing
  11. During articleship – one gets paid.
  12. Post Qualification Jobs – enough jobs in the country, campus interview is also. Some get as high as Rs.60 lakhs as a fresh CA.
  13. One can start OWN practice as well.
  14. One can do specialization as well, after normal courses.
  15. International Certifications give credit for some courses done in India.
  16. CA is equivalent to Masters degree. IGNOU also offers degree, UPSC also recognizes it as Masters. Exam can be in Hindi, but English would be preferable.