Thursday, September 14, 2006
bharatuncut
Chartered Accountancy as a Profession
The Chartered Accountancy Course is a professional course in Accounting introduced in our country in 1949, with the enactment of the Chartered Accountants Act, 1949. The Institute of Chartered Accountants of India was set up in that year as a statutory body to regulate the profession of chartered accountants. Under the Act, the Institute is both an examining and a licensing body. The responsibilities of conducting the Chartered Accountancy Course are also vested with the Institute. This course involves a blend of theoretical education and practical training and equips a student with knowledge, ability, skills and other qualities required of a professional accountant. On successful completion of the course, the student becomes entitled to apply for membership of the Institute which would in turn entitle him to use the professional description of "Chartered Accountant" and start his public practice as a chartered accountant after complying with the rules in this regard. At his option, instead of starting the public practice, he can take up an employment that requires the knowledge and expertise of a professional accountant.
In 1992, the Institute introduced the Foundation Course. A candidate who has passed the 10+2 Examination is eligible to take up the Foundation Course. The duration of the course is 10 months. After passing the Foundation examination, a condidate may take up C.A. Course without being an "eligible" graduate.
From October 2001, a person can join CA course either after 10+2 examination by registering for PE I Course of 10 months duration or after graduation with specified percentage or marks by registering for PE II course of 10 months duration.Thosenot having specified percentage of marks in graduation examination, shall be registered for PE I course only
The practical training for the students of the Chartered Accountancy course involves working in the office of a Chartered Accountant in practice or a firm of such Chartered Accountants for the specified period. A part of the training can also be taken in certain approved business or industrial enterprises. There are two types of training opportunities available to a student of the course: as an articled clerk or as an audit clerk. Articled clerk is a trainee attached to a Chartered Accountant in practice under a deed of articles for the duration of the training of 3 years, he/she may often find it difficult to bide the long period of waiting involved in gaining entry into the profession. They have perforce to work their way up in life and may not be able to afford to work without adequate remuneration for a period of three years which articleship involves. It is for such promising young persons, amongst the regular paid staff of practising chartered accountants, that the system of audit clerkship has been evolved; it gives them a chance to work their way up in the profession. A longer period of training namely, 4 years, is therefore prescribed in this case.
The Chartered Accountancy Course is a professional course in Accounting introduced in our country in 1949, with the enactment of the Chartered Accountants Act, 1949. The Institute of Chartered Accountants of India was set up in that year as a statutory body to regulate the profession of chartered accountants. Under the Act, the Institute is both an examining and a licensing body. The responsibilities of conducting the Chartered Accountancy Course are also vested with the Institute. This course involves a blend of theoretical education and practical training and equips a student with knowledge, ability, skills and other qualities required of a professional accountant. On successful completion of the course, the student becomes entitled to apply for membership of the Institute which would in turn entitle him to use the professional description of "Chartered Accountant" and start his public practice as a chartered accountant after complying with the rules in this regard. At his option, instead of starting the public practice, he can take up an employment that requires the knowledge and expertise of a professional accountant.
In 1992, the Institute introduced the Foundation Course. A candidate who has passed the 10+2 Examination is eligible to take up the Foundation Course. The duration of the course is 10 months. After passing the Foundation examination, a condidate may take up C.A. Course without being an "eligible" graduate.
From October 2001, a person can join CA course either after 10+2 examination by registering for PE I Course of 10 months duration or after graduation with specified percentage or marks by registering for PE II course of 10 months duration.Thosenot having specified percentage of marks in graduation examination, shall be registered for PE I course only
The practical training for the students of the Chartered Accountancy course involves working in the office of a Chartered Accountant in practice or a firm of such Chartered Accountants for the specified period. A part of the training can also be taken in certain approved business or industrial enterprises. There are two types of training opportunities available to a student of the course: as an articled clerk or as an audit clerk. Articled clerk is a trainee attached to a Chartered Accountant in practice under a deed of articles for the duration of the training of 3 years, he/she may often find it difficult to bide the long period of waiting involved in gaining entry into the profession. They have perforce to work their way up in life and may not be able to afford to work without adequate remuneration for a period of three years which articleship involves. It is for such promising young persons, amongst the regular paid staff of practising chartered accountants, that the system of audit clerkship has been evolved; it gives them a chance to work their way up in the profession. A longer period of training namely, 4 years, is therefore prescribed in this case.
# posted by bharat @ 7:56 AM 
