CA-CPT is a professional degree course which offers huge scope for the aspirants. After becoming a CA, a person can choose to either be employed with a firm as an employee or they can choose to open their own private practice. A person can apply for membership either by passing all three levels of examinations prescribed by Institute of Chartered Accountants of India and completing three years of practical training or by availing themselves of exemptions under mutual recognition agreements(MRAs).
The scope is unlimited, though we have mentioned a very few amongst them below
- CA’s can choose to set up their own independent practice and develop their clients on merit.
- They can apply for job at an existing firm of Chartered Accountants.
- They can offer their services in the field of capital market.
- A qualified Chartered Accountant can join the Government Service, Public Sector or even in the Private Sector.
- Institute of CA of India is also well recognized abroad like in England, Wales and Australia so one can even practice in these countries as well.
- It is not necessary that a CA has to work only on number crunching and excel sheets. A CA employed with a firm can also contribute towards decision making and enhancement of profits for the firm.
- As per a report by the Economic Times, there is a huge demand for CA’s in the manufacturing and financial services sectors (source: The Economic Times)
- CA is emerging as a good career option for women as it allows work to be done at one’s own pace and time, and, also allows one to control the money flow. Besides, a CA is free to take break in his / her profession (as stated earlier).
- According to TN Manoharan, former ICAI president, for 50 years till 1999, the number of women CA’s in country was 8%. In the past decade, the numbers grew phenomenally, and women constituted 16% of the nearly 1, 70,000 CAs in India. “The major push came from parents, who earlier discouraged daughters from private practice. More private companies and MNCs are hiring CAs and early entry through CPT, post-class 12, have allowed them to complete their CA before their parents get them married,” says Manoharan.
Currently ICAI has MOUs with following professional accounting bodies:
- Accounting and Auditing Standards Board of Bhutan, Bhutan (signed on 22 November 2013)
- The Vietnam Association of Certified Public Accountants, Vietnam
- Saudi Organization for Certified Public Accountants (SOCPA), Saudia Arabia (since 2014 for a period of 3 years
- Higher Colleges of Technology, UAE (signed on 4 January 2011)
- College of Banking and Financial Studies, Oman
After passing in the 10th class or any course equal to that which is recognized student can apply to Common Proficiency Course (cpc). After 10+2 qualifying student need to qualify in CPT exam. After CPT IPCC, Article ship/ Training under a Practicing C.A will be for 3 years and CA Final are there. This is like four stage procedure.
The Chartered Accountancy examinations are divided into three levels. They are
- Common Proficiency Test (CPT)
- Integrated Professional Competence Course (IPCC)
- Final Examination 
CPT covers four basic subjects viz. Fundamentals of Accounting, Mercantile Laws, Economics and Quantitative Aptitude.
CPT Subjects According To New Syllabus 2016
CPT Subjects According To New Syllabus 2016 Form 2016 new syllabus cpt course will be called as Foundation course. It will have six subjects i.e two subjects are added to previous course. The two new subjects are Business communication and General English. Six subjects of foundation course.
- Paper 1 : Fundamentals OF Accounting
- Paper 2 : Quantitative aptitude
- Paper 3 A: Mercantile Law
- Paper 3 B: General Economics
- Paper 4 A: General English
- Paper 4 B: Business Communication