Candidates who are currently studying in 12th standard commerce stream, Now it is the time to think over the career options & courses. Final exams of 12th standard is nearly going to over. Currently you are concentrates on your study during the examination period and do not diverse your mind in thinking about your career after 12th because after qualified the 12th examination we will help you for choosing best career option in Commerce Stream... Commerce is an essential part of the business that covers the economical part of the social, legal, technological and political aspects. It involves the activities of exchange the goods, money and services between the companies and persons. It has a few fields of specializations but very demanding and challenging. The commerce is a gateway for the finance and accounts world for all corporate sectors. The CA, CMA, CFA and CS are the professional job oriented courses after 12th (Commerce). Student Section of AglaTax- In this section users can find latest updates on CA, CS, CMA Courses and also get latest updates, amendments, updated notes, resources, ICAI News, ICSI News, ICMAI News etc..

CA Course

The Institute of Chartered Accountants of India (ICAI) is the main authority who conduct and manage CA Course. The ICAI is a statutory body set up by an Act of Parliament, viz. The Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of profession of Chartered Accountancy in the country. The Institute functions under the administrative control of the Ministry of Corporate Affairs, Government of India and is the second largest professional body of Chartered Accountants in the world.

CA Course New Scheme of Education and Training

The Institute of Chartered Accountants of India periodically reviews its scheme of education and training to remain in tandem with developments in the field of education and other changes at the national and global levels. Evolving business and changing environment also demands newer skills from the accounting professionals. ICAI, being a member body of International Federation of Accountants (IFAC), has to comply with the International Education Standards [IES 1 to IES 8]. There has been a shift from "input-based" to "outcome-based" approach. Accordingly, the scheme of education has been designed and implemented from July 1, 2017

Different levels of Chartered Accountancy Course

 

S.No Level Course
1 Entry Level Foundation Course
2 First Stage of Theoretical Education Intermediate Course
3 Final Stage of Theoretical Education Final Course

 

CA Foundation Course (Existing Name - CPT)

This is an entry to the CA Course for the candidates who have appeared for class XII examinations.. Admission to Foundation Examination 1. Candidate shall be admitted to Foundation Examination, if

  • a. He is registered on or before 30th June/31st December, for the examination to be held in the month of November/May respectively, and
  • b. He has passed Senior Secondary (10+2) examination conducted by an examining body constituted by law in India or an examination is recognized by the Central Government or the State Government as equivalent thereto for the purpose of admission to graduation course (Annexure A)

2. Candidate shall pay Examination fees, as may be fixed by the Council for Foundation Examination. Please note - Candidates are advised to visit the Institute's website www.icai.org regularly to keep updated with the latest developments, if any.

Intermediate Course (Existing Name - IPCC, PE-II)

Candidates can register for Intermediate level of CA Course through two routes, namely

  • i. After qualifying Foundation Course, or
  • ii. Through Direct Entry, if candidates are Graduates/Post Graduates with prescribed percentage of marks or have qualified the Intermediate Level examination of the Institute of Cost Accountants of India / the Institute of Company Secretaries of India.

CA Final Course

After successfully passing Intermediate Examination, a student enters into the last leg of the Chartered Accountancy Course i.e. the Final Course. The Final Course consists of two Groups - Group I and Group II. Group I consists of Four Core papers and Group II consists of Three Core Papers alongwith One Elective Paper. Students at the time of registration for Final Course have to opt for one out of the six options available in the Elective Paper.

Practical Training / Articleship Training

he unique requirement of practical training/articled training is instrumental in shaping a well-rounded professional and also ensure that students have an opportunity to acquire on-the-job work experience of a professional nature. Such a practical training...

  • Inculcates a disciplined attitude for hard work.
  • Develops necessary skills in applying theoretical knowledge to practical situations.
  • Provides exposure to overall socio-economic environment in which organizations operate.
  • Develops ethical values.

Duration of Training: Three years

CS Course

The Institute of Company Secretaries of India (ICSI) is the main authority who conduct and manage CS Course. The Institute of Company Secretaries of India(ICSI) is constituted under an Act of Parliament i.e. the Company Secretaries Act, 1980 (Act No. 56 of 1980). ICSI is the only recognized professional body in India to develop and regulate the profession of Company Secretaries in India.

Different levels of Company Secretary Course

 

S.No Level Course
1 Entry Level Foundation Course
2 First Stage of Theoretical Education Executive Course
3 Final Stage of Theoretical Education Professional Course

 

Stages to become a Company Secretary:

The student who would like to join the Course after 10+2 pass or equivalent has to undergo three stages to pursue the Company Secretaries Course i.e.

  • Foundation Programme
  • Executive Programme
  • Professional Programme

The Student who would like to join the Course after passing the Graduation has to undergo two stages of the Company Secretaryship i.e.

  • Executive Programme
  • Professional Programme

Foundation Programme which is of eight months duration can be pursued by 10+2 pass or equivalent students of Arts, Science or Commerce stream (Excluding Fine Arts) Executive Programme can be pursued by a Graduate of all streams except Fine Arts. Professional Programme can be pursued only after clearing the Executive Programme of CS Course The Company Secretary is:

  • An in-house legal expert; a compliance officer of the Company.
  • An expert in corporate laws, securities laws & capital market and corporate governance
  • Chief advisor to the board of directors on best practices in corporate governance
  • Responsible for all regulatory compliances of company
  • Corporate planner and strategic manager

Company Secretary Course Highlights:

  1. 10+2 pass or equivalent / Graduate can join
  2. No Entry Barrier – opportunity for every student
  3. Cost Effective
  4. Distance Learning – any where in the world
  5. 24x7 study through e-learning
  6. Flexibility in the schedules – Registration valid for 3 to 5 years.
  7. Excellent career opportunities for CS professional
  8. Position of Power and Prestige
  9. Offers Self Employment and Job Opportunities
  10. Direct Access to Top Management / Board Room
  11. Good remuneration and growth opportunities
  12. Good career option for girls also.
  13. Opportunities across various sectors at all locations.
  14. Opportunities Abroad – MOU with ICSA, London
  15. Opportunity to pursue B.Com with Major in Corporate Affairs and Administration and M.Com in Business Policy and Corporate Governance from IGNOU.

CMA Course

The Institute of Cost Accountants of India (erstwhile The Institute of Cost and Works Accountants of India) was first established in 1944 as a registered company under the Companies Act with the objects of promoting, regulating and developing the profession of Cost Accountancy

Different levels of CMA Course

 

S.No Level Course
1 Entry Level Foundation Course
2 First Stage of Theoretical Education Intermediate Course
3 Final Stage of Theoretical Education Final Course

 

Role of CMA

A CMA is a person who offers to perform services involving the costing, pricing of goods and services or carries out the preparation, verification or certification of cost accounting and related statements. The role and importance of cost accountants has increased manifold on account of growing competition in the corporate sector. Their job broadly stating essentially comprises of closely analysing costs and devising ways to reduce it as far as possible..

  • Improving cost competitiveness
  • Resource Management
  • Performance Management
  • Financial Reporting and Strategy
  • Cost Audit and Assurance
  • Risk Management & Mitigation
  • Direct and Indirect Taxation

The steps to become a Cost Accountant

The candidates who intend to pursue CMA course should qualify in the three stages of the course. First stage is called the Foundation Course. Those who have passed plus two or its equivalent can apply for this course and the age limit specified for this course is minimum seventeen years. Duration of the course is about eight months After completing this course, one can apply for the second stage of the course. The second stage of the CMA course is called the intermediate course. Those who are applying for the intermediate course should have completed their graduation from any recognized university or foundation course of the Institute. Their age should not be less than eighteen years.. Candidates who have passed all the six papers in the intermediate course can apply for the Final stage.. After qualifying the final examination one can become a cost accountant.

Key elements in the process

  • Pass plus two or its equivalent
  • Complete the foundation course of CMA successfully or Complete graduation from any recognized university
  • Complete intermediate course of CMA successfully
  • Qualify the final exam of CMA

Period of Practical Training:

  • Period of Training shall be 3 years.
  • A student working in areas other than those specified (mentioned above) shall be required to have experience or training of minimum six months in the specified areas in addition to at least two and a half years experience in other than specified areas.
  • A certificate of training needs to be issued by the organization & a completion certificate by the institute.

When to Apply:

Exams are held two times in a year i.e. in June and December. For June Term examinations, one should apply before December 5 of previous year and for December Term Examination apply before June 5 of the same year. The timing for applying remains the same usually every year.

CFA Course

The CFA charter sets the professional standard as the most highly respected designation for the investment management profession. Earning the CFA charter demonstrates you have the knowledge, skills, and experience needed for investment analysis and management in today’s dynamic global markets. Steps To Becoming a Charterholder

  • Agree to follow the CFA Institute Code of Ethics and Standards of Professional Conduct.
  • Pass the CFA Program exams for Levels I, II, and III.
  • Have four years of qualified, professional work experience in investment decision making.
  • Become a regular member of CFA Institute and apply for membership in a local CFA member society.

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