The Institute of Chartered Accountants of India, set up under the Chartered Accountancy Act, 1949, regulates the profession of Chartered Accountancy.

The First step for an individual in to get a certified as a Chartered Accountant is to Register with the Institute of Chartered Accountants of India. You will require a minimum of Ten Months to prepare for the CA Exams (PE-1, PE-2 and Final), which are held twice a year.

To become a Practicing Chartered Account, you are required to successfully complete –
  1. PE-1 : Candidates appearing for 10+2 Exams can register for this exam. This exam is conducted in the months of May and November, each year.
  2. PE-2 : Candidate should have successfully completed PE-1 or Foundation Course. This Course is conducted in the months of May and November each year.
  3. 2.5 Years of Practical Training
  4. Final : Candidate should have successfully completed PE-2 or Intermediate Exam
  5. 15 Days course on General Management & Communication Skills

You are also required to register with the Board of Studies in order to become eligible. Once, these five mandates are complete, you are eligible to apply for a membership with the Institute of chartered Accountants of India. Only when you become a member at the Institute of Chartered Accounts of India, will you become a ‘Chartered’ Accountant.

Note –

As an alternative to the PE-1/Foundation Course, which involves ten long months of preparation and an exhaustive theoretical examination, candidates aspiring to become Chartered Accountants, can now opt for CPT (Common Proficiency Test).

The CPT (Common Proficiency Test) consists of Objective-Type Questions. Candidates have the choice of opting for Hindi Medium Question Paper. Candidates can also choose a Paper-Pencil Mode of Examination or an Online Computer-Based Test. The Test is divided into Two Sections of Two Hours and 100 Marks each. There will be negative marking. Students are tested on –

  1. Fundamentals of Accounting
  2. Mercantile Laws
  3. General Economics and
  4. Quantitative Aptitude

The candidate must obtain 50% marks in order to clear this level.

Fees – The Fees for these courses vary with various accredited institutes.

Centers for the Institute of Chartered Accountants of India –

  1. The Institute of Chartered Accountants of India,

    Indraprastha Marg,
    New Delhi 110052
    Ph: 011-3318371, 3312055 

  2. The Institute of Chartered Accountants of India,

    16/7 Civil lines,
    The Mall,
    Kanpur 208001
    Ph: 0512-368642, 311048

  3. The Institute of Chartered Accountants of India,

    ICAI Bhavan, 122, Mahatma Gandhi Road,
    Post Box No. 3314,
    Numgambakkam,
    Chennai 600034
    EPABX No: 044-39893989)

List of Accredited Institutes –

http://www.icai.org/resource_file/11876accreditation.pdf

Certified Financial Planner (CFP) –
(source – http://www.fpsbindia.org/)

The Financial Planning Standards India was set up to establish and regulate professional Financial Planning standards. FPSB India is the only certified licensing authority for CFP marks in India.

The CFP Certification program consists of the following 6 Modules –
Module I     –    Introduction to Financial Planning
Module II    –   Risk Analysis & Insurance Planning
Module III   –   Retirement Planning & Employee Benefits
Module IV   –   Investment Planning
Module V    –   Tax Planning & Estate Planning
Module VI   –   Advanced Financial Planning

There is no separate exam for Module I. The exam for the other 5 Modules are spilt in to –

  1. Examination Pattern (1-4)
    1. One Exam each for Module II – Module V
    2. Exams are conducted in 71 NSE Centers on a daily basis from Monday through Saturday.
    3. The duration of the exam is 2 Hours.
    4. The medium of language for taking this exam in English Only.
    5. There will be a total of 75 multiple choice objective type questions with four alternative options each
    6. Total Marks is 140 and there is no negative marking
    7. The candidate has to obtain 60% of marks or more in order to pass this examination

  2. Examination Pattern (5)
    1. One Exam for Module VI
    2. Exams are conducted in 6 NSE Centers on the 3rd or 4th Saturday of the Month.
    3. The duration of the exam is 4 Hours.
    4. Candidates can choose to take this exam either in English or Hindi.
    5. Candidates will be given two Case Studies of 50 Marks each
    6. Total marks in 100 and there is no negative marking
    7. Candidates scoring 50% or more are declared to have passed the examination

List of Accredited Institutes - http://www.fpsb.co.in/scripts/EPList.aspx

Fee Structure – The course training (including materials) fee varies across the accredited institutes. The fees can be anywhere between Rs.20000 to Rs.100000.

Chartered Financial Accountant (CFA) –
(source – http://.ww.cfainstitute.org/)

            The CFA Institute with headquarters at Charlottesville, USA administers the CFA exams and awards a CFA charter to qualified individuals. The CFA (Chartered Financial Accountant) program is a self-study graduate-level program. Please not that a CPA Program is not approved by the AICTE (All India Council for Technical Education). To become a Chartered Financial Analyst (CFA), an individual is required to pass the following three levels of exams –

To be eligible for register for a CFA Program, an individual must –

  1. Have a US Bachelor’s or equivalent degree
  2. Be in the final year of bachelor’s degree
  3. Have 4 years of professional work experience

It takes approximately four years to earn a CFA Charter. The exams are held in three levels –

  1. Level I – Held in the months of June and December every year. The exam constitutes multiple choice questions. The areas a candidate will be tested on –
    1. Financial Reporting & Analysis
    2. Ethical & Professional Standards
    3. Fixed Income
    4. Quantitative Models
    5. Economics
    6. Equity Investments
    7. Corporate Finance
    8. Derivatives
    9. Portfolio Management & Wealth Planning
    10. Alternative Investments

  2. Level II – Also held in the months of June and December each year. The exam comprises item-set questions. The areas a candidate will be tested on –
    1. Equity Investments
    2.  Financial Reporting & Analysis
    3. Ethical & Professional Standards
    4. Alternative Investments
    5. Corporate Finance
    6. Derivatives
    7. Fixed Income
    8. Portfolio Management & Wealth Planning
    9. Economics
    10. Quantitative Methods

  3. Level III – This exam is held only in the month of June every year. The exam incorporates item-set questions and essay questions. The areas a candidate will be tested on –
    1. Portfolio Management & Wealth Planning
    2. Fixed Income
    3. Ethical & Professional Standards
    4. Alternative Investments
    5. Derivatives
    6. Equity Investments

Fee Structures - http://www.cfainstitute.org/cfaprog/register/fees.html

The Institute of Chartered Financial Analysts of India (ICFAI), established in the year 1984, also offers CFA programs.

The Institute of Company Secretaries of India was constituted under the Company Secretaries Act, 1980. The ICSI (Institute of Company Secretaries of India) is the only recognized professional body that is authorized to award a CS (Company Secretary) designation to a qualified candidate.

For an individual to use and practice his/her Company Secretary this designation and expertise, he/she should be a member of the Institute of Company Secretaries of India.

There are three stages to successfully complete the Company Secretary (CS) program –

  1. Foundation Program
  2. Intermediate Course/ Executive Program
  3. Final Course/ Professional Program

Fee Structure –
http://www.icsi.edu/webmodules/linksofweeks/REVISION%20OF%20FEES.doc
http://www.icsi.edu/WebModules/Publications/FCB/July-August2009.pdf

List of Centers    –    http://www.icsi.in/

Foundation Program –

To be eligible for a Foundation Program in Company Secretary (CS), the individual must have passed higher secondary (10+2) or equivalent. The exams are conducted twice a year in the months of June and December. Registration for the Foundation Program is valid for a period of 3 years within which, the individual is required to pass the examination. He/She can immediately register for the Executive Program.

The subjects that a candidate will be tested on in this program include –

  1. English and Business Communication
  2. Economics & Statistics
  3. Financial Accounting
  4. Elements of Business Law and Management

A candidate has to obtain 40% marks in each paper at one sitting and 50% marks in the aggregate of all subjects.

Fee Structure    –    http://www.icsi.edu/webmodules/linksofweeks/REVISION%20OF%20FEES.doc

List of Centers    –    http://www.icsi.in/

Executive Program –

To be eligible for an Executive Program in CS (Company Secretary), an individual is required to have either successfully completed the Foundation Program or –

  1. Have a Degree or a Masters Degree in Corporate Secretary
  2. Have Degree or a Masters Degree is any other discipline other than Fine Arts
  3. Should have passed ICWAI Final or ICAI Final or any other equivalent in Accountancy Institution in India/ Abroad

Registration for an Executive Program is valid for a period of 5 years, within which the individual is expected to pass the examination.

            The subjects that a candidate will be tested on in this program are spilt into two modules and include –

  1. Module I –
    1. General & Commercial Laws
    2. Company Accounts, Cost & Management Accounting
    3. Tax Laws
  2. Module II –
    1. Company Laws
    2. Economic & Labor Laws
    3. Securities Laws and Compliances

A candidate has to obtain 40% marks in each paper at one sitting and 50% marks in the aggregate of all subjects.

Fee Structure    –    http://www.icsi.edu/webmodules/linksofweeks/REVISION%20OF%20FEES.doc

List of Centers    –    http://www.icsi.in/