Who can apply for a certified public accountant?

Updated on : January 17, 2022 by Enrique Olsen



Who can apply for a certified public accountant?

Anyone who has passed the 12th class of a recognized educational institute for CA-CPT (Common Competency Test) or obtained a Bachelor's degree from a recognized educational institution can directly apply for CA-IPC (Intermediate Competency Course), which is the second AC level.

Hey

I think I am eligible to answer this one. Even though your question revolves around the fact of why you should do CA, I would suggest that you shouldn't.

I know I'm going to get a lot of criticism for this one, but listen to me patiently and then make up your mind. So before we begin, let me give you a brief introduction about myself. I am a final CA student, article with a BIG-4 and I have my first attempt on Nov 19th. Before the CA finals, I had more than 4 attempts at the IPCC. So I've seen most of the nuances in this course, below are the reasons why you shouldn't do CA.

  1. Most people study to win at
Keep reading

Hey

I think I am eligible to answer this one. Even though your question revolves around the fact of why you should do CA, I would suggest that you shouldn't.

I know I'm going to get a lot of criticism for this one, but listen to me patiently and then make up your mind. So before we begin, let me give you a brief introduction about myself. I am a final CA student, article with a BIG-4 and I have my first attempt on Nov 19th. Before the CA finals, I had more than 4 attempts at the IPCC. So I've seen most of the nuances in this course, below are the reasons why you shouldn't do CA.

  1. Most people go to school for a living, CA offers you a decent livelihood, to be sure, but it all comes at a cost. To earn a decent living (by fair means, not to mention ACs in practice using unfair means), you have to strive for 25 years to get to the top, and by hard work I mean hard work. I can attest to this because my dad is also a CA and he is a CFO in a publicly traded company, 20 years of my life I have not seen him take off on Saturdays or Sundays. Either you are busy with your office work or your own development. I remember as a kid I loved to fly kites on and around Independence Day, but I don't remember anything about Independence Day when I flew kites with him.
  2. Contrary to popular belief that it is a profitable course, it is not. I will explain the math to you, you have to register three times once at the basic level, then at the ipcc level and then at the final level. I registered for the final course paying 20,000. For the sake of simplicity, let's say you pay 15,000 to sign up each time. So that equals 15 × 3 = 45,000. To be honest, there is little chance that an average person can crack CA without the help of private lessons (I personally tried to study the institute study material at the IPCC, except taxes and believe me, it was not up to scratch and now I mean back to SFM Study Material for final CA and to be honest still a disappointment, I am using YouTube more than study material). Then, getting back to the point over the course of 3 levels, you will need to take a lot of classes for the final and each IPCC class will cost you around 10-15 K. You would need at least 12 classes of 16 subjects in final and IPCC. Also, you would need classes for foundations that cost around 26,000 (MK gupta sir). Assuming each class at the final and IPCC level costs you 12,000, the total cost turns out to be 45,000 + 12,000 × 12 + 26,000 = 215,000. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. I would need at least 12 classes of 16 subjects in final and IPCC. What's more, you would need classes for foundations that cost around 26,000 (MK gupta sir). Assuming each class at the final and IPCC level costs you 12,000, the total cost turns out to be 45,000 + 12,000 × 12 + 26,000 = 215,000. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. I would need at least 12 classes of 16 subjects in final and IPCC. Also, you would need classes for foundations that cost around 26,000 (MK gupta sir). Assuming each class at the final and IPCC level costs you 12,000, the total cost turns out to be 45,000 + 12,000 × 12 + 26,000 = 215,000. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. it will cost around 300,000. It is not as cheap as it sounds. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. it will cost around 300,000. It is not as cheap as it sounds. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. the cost of commutation to classes and the cost of exam forms will cost around 300,000. It is not as cheap as it sounds. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds. the cost of commutation to classes and the cost of exam forms will cost around 300,000. It is not as cheap as it sounds. You are going to pay money for ITT and GMCS, which again will cost you around 30,000 (7500 × 4). To add more time value for money, the cost of switching to classes and the cost of exam forms, it will cost around 300,000. It is not as cheap as it sounds.
  3. There is no guarantee of approval, do I need to write something about it? Just to let you know that the pass rate is around .5% (on the high end). So someone saying yiu can be CA at 21 doesn't make sense because the possibilities are so limited.
  4. There is not enough reward for your hard work. Apparently CA is one of the eighth toughest courses in the world and one of the toughest in India, yet the average salary for a newly qualified CA is 6-8 lakhs. On the contrary, a B + or A university MBA (excluding IIM and FMS) can earn more than this so I don't understand the reason for so much hard work
  5. There is no standardization in paper verification, before entering CA you must tell yourself that you will not get the grades based on what you wrote. There is no basis for the grades you get. The papers are being reviewed by unqualified people. You can check how scores are awarded by going to youtube and watching pankaj garg's video on ICAI paper verification
  6. Manipulation of the results is normal. In one of the recent results, the results were changed after the statement. So taking a CA exam is like buying a lottery ticket. Even if you get passing grades, they might tell you that you are failing because they have set a limit for passing the%. So it's like a percentile system and a percentage system at the same time.
  7. There is no holistic development, it is not an exam of how much you know more than an exam of how much you can assault. In fact, there are so many nonsense assaults in the world. What's the point of learning laws and standards or any theory if someone has to use a textbook for reference every time a problem arises regarding a particular law? They will not test your understanding and application of the law or regulation in real life. The questions have not even changed from previous years, most are repetitive. You don't learn things after a particular moment because it only tests your ability to catch. Also, there are no real-life case studies on the course or any proof of your communication skills. There is no empathy in the importance of communication and there is a popular notion that CA's are not good communicators. So at the end of the course, I would end up adding a lot of theory with limited application of that theory as most article experiences are limited to tax and auditing and accounting, with limited application of cost, strategic financial management, ISCA, risk management, business. law, capital markets, etc.
  8. You may get stuck as pass rates are low by the time you are 24-25 years old, you may still be in the final and not see a light at the end of the tunnel and with limited or no choice.
  9. It makes you a job seeker and not a job creator, and that too for a job whose working hours can extend to 16 hours a day. Because, as a discipline, accounting, tax and auditing, they look back, they tend to miss what is coming or what can be anticipated and their line of thinking becomes limited and they tend not to innovate or explore ideas.
  10. After 25 to 30 years of hard work, the chances of sacrifices are that your net profit is less than 5 cr. Which, considering the cost of living in meters and the prices of the properties, could be enough.
  11. There is no recognition of the CA title worldwide, except in some countries, the CA title is not recognized globally. You will have to make additional titles from that particular country if you want to go abroad, however, you will get certain exemptions on certain papers if you want to make additional titles.
  12. Horrible work-life balance that will actually affect your physical health and social life. Or you would be looking to study or delve into office work. You will soon see a gap in your social life and obviously long hours at the desk will affect your health. (Fun fact: most ACs are not suitable and do not look good because you will not have much time to maintain yourself.)

These are some of the things that I observed during the period and personally I think it is not worth the hard work, time and effort. I hope this helps.

Someone recently told me regarding CA "Challenges are what makes life interesting and meeting those challenges makes life meaningful." It sounds very fascinating in theory, but to be honest, don't miss out on life moments in order to achieve avoidable challenges.

Other Guides:


GET SPECIAL OFFER FROM OUR PARTNER.