Dreaming of becoming a Chartered Accountant (CA)? B.Com can be your gateway to get started

Introduction to B.Com

B.Com is an undergraduate, financial course which deals with fundamentals of the subject of commerce. In India, the course is a three-year course which is covered over 6 semesters. It is ideal for those who have a love of numbers and wish to become a CA after graduation.

Syllabus covered

B.Com is a relatively theoretical course which looks into the foundational courses of commerce like Accounts, Administration, Finance, Economics and Industrial Policies. The field is majorly related to numbers. There are numerical subjects like Financial Accounting, Cost Accounting, Direct Taxation, Company Law, etc.

The course provides an in-depth understanding and working skills in Accounting, Taxation, Banking, and Statistics. At the same time, it also provides knowledge about Applications of Mathematical, Statistical, and IT Skills.

It prepares students with the knowledge of Accounting Principles, Export and Import Laws, Economic Policies and other aspects that have an impact on trade and business. This provides them with competence in commerce fields. 

The course is a blend of ability enhancement compulsory courses and skill-enhancement elective courses. Many colleges also provide discipline-specific electives and generic electives. It teaches students to record and analyze various kinds of business transactions and provides skills and knowledge to do the same.

admissions

Roles and Responsibilities of a CA

The post of a Chartered Accountant is prestigious and garners a lot of respect. Apart from this, there are various financial benefits that are associated with being a CA. Therefore, this course is sought after by many students.

Chartered accountants work in the field of accountancy. This includes both private as well as public sectors. Even though their job profiles may vary with the concerned job positions, all of them share some of the common duties. 

Chartered Accountants play the role of an advisor in the company. They are responsible for preparing the reports and financial documents, reviewing finances, maintaining a record of investments, etc. They are also consulted for their professional opinion on the financial decisions of a firm.

Besides these, auditing, accounting, and financial management are the prime responsibilities of a CA. Depending upon their specializations they can also work in specific domains like risk assessment, investment banking, law, etc.

CA Exam


The Chartered Accounting Exam is conducted only by the Institute of Chartered Accountants of India (ICAI). The exam is conducted at three levels:

1. CA Foundation Course: This exam has replaced the common proficiency test. The test comprises of the following four papers:

Principles and Practices of Accounting
Business Laws and Business Correspondence and Reporting
Business Mathematics and Logical Reasoning & Statistics
Business Economics & Business and Commercial Knowledge
Each of these papers is worth 100 marks. The first two are subjective while the latter two are objective.


2. CA Intermediate Course: After appearing for CA Foundation, students are eligible to appear for CA Intermediate. This exam is completely subjective based and is divided into eight subjects and two groups. The subjects are as follows:


Accounting
Corporate and other Laws
Cost and Management Accounting
Taxation
Advanced Accounting
Auditing and Assurance
Enterprise Information System and Strategic Management
Financial Management & Economics for Finance
 
During this time you are also expected to undergo 35 hours of orientation and 100 hours of ITT (Information Technology Training).
Clearing one group of the two also makes you eligible for article-ship of 3 years. This refers to the training which a candidate has to undergo with a practicing CA.

3. CA Final Course: After completing the article-ship the candidate is eligible for appearing for the last part of CA that is the final course. The course is designed keeping in mind the need to give advanced knowledge of taxation, ethics, auditing, financial reporting, corporate law, etc.

The subjects included in this are:
Financial Reporting
Strategic Financial Management
Advanced Auditing and Professional Ethics
Corporate and Allied Laws
Advanced Management Accounting
Information Systems Control and Audit
Direct Tax Laws
Indirect Tax Laws
 
After completing these three stages a candidate becomes a CA and gets the privilege to add the prefix before their name.

How B.Com helps in pursuing CA

A student who completes their B.Com graduation is eligible for directly applying for the intermediate course of Chartered Accountant. This saves them the effort of having to go through the step of CA Foundation Course. Compared to CA Foundation Course, the course of B.Com is hailed to be easier.

Additionally, as you might have noticed, there are many topics which are akin in both courses like Accounting, Taxation, Corporate Laws, Business Ethics, etc. The subject matter in CA is an in-depth study of the subjects of B.Com. Therefore, it a good idea to pursue B.Com before appearing for the exams of CA.

The course of B.Com provides you with a strong foundational base for the subjects in CA. Since the difficulty level increases in CA, having a strong foundational base through B.Com works in your favor. It gives you an edge when you appear for your CA exams.

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