Chartered Accountancy: A Prestigious & Rewarding Profession

Chartered Accountancy: As a Profession

CA is a prestigious, responsible and rewarding profession. It imparts the best combination of theoretical knowledge, practical experience with analytical as well as technical skill to look after the entire operations and management of the modern business organization. At present there has been rapid transformation in the scope of Chartered Accountants. Globalization, liberalization and revolution in information technology have totally changed not only the scope of CAs in financial reporting but also other many areas.

Chartered Accountants, today hold top management position in public as well as private sector. The Chartered Accountants are rendering various types of consultancy services like formulation of profit planning programme, guiding the managerial decisions, feasibility studies, investment proposals, tax management consultants and so on. Apart from the traditional work of performing various types of audit, many CAs are serving private and public sectors in the capacity of Chief Executive Officer, Managing Director, Finance Director, Chief Operating Officer, Internal Auditor etc. There is a sustained demand for qualified, trained and experienced Chartered Accountants day by day. Chartered Accountants are also holding key position in Government sector. Having vast and specialized knowledge in financial matter their services are recognized by the Government, Public as well as Private sector leading to placement at various level in the field of accounting and management functions. Rapid changes in economy brought by globalization have further opened opportunities to the Chartered Accountants for many challenging and rewarding career options. Due to the increasing demand for their services, the average earning/ remuneration packages of Chartered Accountants has also steadily increased.

Association with International Professional Bodies

The Institute of Chartered Accountants of Nepal (ICAN) is the member of the International Federation of Accountants (IFAC), the Confederation of Asia and Pacific Accountants (CAPA) and the South Asian Federation of Accountants (SAFA).

Chartered Accountancy Course:

CA course is challenging. Based on distance learning module, it involves in depth theoretical education and practical training imparting sound analytical and problem solving skills to the students.

The course is divided into:

CAP - I - Six Months.

CAP - II - Nine Months.

CAP -III - Three Years (including practical training).

How to become a Chartered Accountant?

After taking the course offered by the Institute passing its final examination and acquiring three years practical training, one can become a Chartered Accountant and member of the Institute.

Chartered Accountancy Professional-I Level:

This is basically for the students willing to enter in the professional CA course immediately after completion of higher secondary education (10+2, PCL, A Level or equivalent) the duration of CAP-I Level Course is Six Month.

Eligibility Criteria

The following are eligible to register for CAP-I Level:

Completed higher secondary (10+2) or Certificate level or A level or equivalent examination from recognized Educational Institution.

Graduates/Post Graduates who have scored less than 50% in commerce and less than 60% in faculty other than Commerce and thus were ineligible to register directly in CAP-II Course (see CAP- II Level registration criteria).

Provisional Registration

Students those appeared for the final exam of +2 or equivalent and waiting their result may register their names provisionally.

The Fee Structure:

The total fee for the CAP-I Level course is Rs. 27,500.00. It can be paid fully at the time of registration or also on Installment basis.

• Rs. 15,000.00 at the time of Registration and
• Balance Rs. 12,500.00 within 3 months from the date of registration. The fee structure may change on need basis by the Council.

The Course:

The CAP-I level comprises 3 papers follows:
Paper 1
Fundamentals of Accounting
100 Marks

Paper 2
Mercantile Laws and Fundamentals of Economics
100 Marks

Paper 3
Fundamentals of Management and Commercial Mathematics and Statistics
100 Marks

Eligibility Test:

To be eligible to write final examination of the CAP-I Level, students are required to pass Eligibility Test as prescribed by ICAN.

Registration deadline:

The Summer Examination is held in the first week of June and Winter Examination in the first week of December every year. For appearing in Summer Examination, the registration must be completed on or before the end of November of preceding year and for Winter Examination, on or before the end of May of the year. There should be time interval of at least Six Months between registration and appearance of the CAP-I Level Examination.

What after Completion of CAP-I ?

After successful completion of the CAP-I Level, students shall enroll to the CAP-II Course.

Chartered Accountancy Professional - II Level:

Eligibility Criteria:

• Passed the CAP-I Level Examination, or
• Be a Graduate or Post Graduate in Commerce, Business Administration or Management with Accounts, Audit or Tax as a major subject and having secured a minimum of 50% aggregate marks, or
• Be a Graduate or Post Graduate in Commerce, Business Administration or Management with Accounts, Audit or Tax as a major subject and having secured a minimum of 50% aggregate marks, or
• Be a Graduate or Post Graduate in other than above with a minimum of 60% aggregate marks.

Provisional Registration:

Students those appeared for the above mentioned final exam may register their names provisionally.

The Fee Structure:

The total fee for the CAP-II level course is NPR 32,500.00. It can be paid fully at the time of registration or also on Installment basis. The fee structure may changes on need basis by the Council.

• Rs 17,500.00 at the time of Registration and
• Balance Rs. 15,000.00 within six months from the date of registration.

The Course:

The CAP-II Level comprises 7 papers divided into two groups as follows:

Group I
Paper 1.
Advanced Accounting
100 Marks

Paper 2.
Audit and Assurance
100 Marks

Paper 3.
Corporate and Other Laws
100 Marks

Paper 4.
Financial Management
100 Marks

Group II
Paper 5.
Cost and Management Accounting
100 Marks

Paper 6.
Business Communication and Marketing
100 Marks

Paper 7.
Income Tax and VAT
100 Marks

Paper 8.
Strategic Management and Decision Making Analysis
100 Marks

Eligibility Test:
To be eligible to write the final examination of the CAP-II Level, students are required to pass Eligibility Test as prescribed by ICAN.

Registration deadline:
To be eligible to write the final examination of the CAP-II Level, students are required to pass Eligibility Test as prescribed by ICAN.
The Summer Examination is held in the first week of June and Winter Examination in the first week of December every year. For appearing in Summer Examination, the registration must be completed on or before the end of August of preceding year and for Winter Examination, on or before the end of February. There should be time interval of at least nine months between registration and appearance of the CAP-II Level Examination.

What after Completion of CAP-II ?
After successful completion of the CAP-II Level, students shall enroll to the Final Level of the Chartered Accountancy Professional Course.