» Levels in Chartered Accountancy Course
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In the changing global context, roles and responsibilities of chartered accountants are not confined to performing mere traditional duties in the fields of Auditing, Accounting, Taxation, etc. They are now expected to have a greater understanding of and experience in the fields of business finance, information technology, corporate management, etc. Professional expertise and skills in these subjects do, therefore, constitute the indispensable parts of the CA Education. To this end, our CA education system is designed with appropriate syllabi framed to cater to the learning needs of the students facing development challenges in all national as well as global fronts.
I Chartered Accountancy Foundation Level
II Chartered Accountancy Intermediate Level
III Chartered Accountancy Final Level
THE PATH OF CA EDUCATION
- Eligibility for Registration to Foundation Level
The following students are eligible to register for the Foundation course:
i. Students completing the higher secondary (10+2) or certificate level examination from recognized
academic institutions,
ii Graduates or Post Graduates who have scored less than 50% in Commerce and/ or less than 60% in any faculty other than Commerce - Provisional Registration
Candidates who have appeared in 10+2 or equivalent examinations may also register provisionally for the Foundation Course. However, such provisional registration shall be confirmed only after satisfactory proof of having passed the said examination within a period of six months from the date of provisional registration. Failure to comply with this shall result in the cancellation of provisional registration. Fees paid for provisional registration shall not be refunded.
Procedure for Registration
Registration for the Foundation Course is open throughout the year. The candidate must fill up the application form along with the following documents, duly attested by authorized person or ICAN’s Officers, and submits it to the Institute:
• Copy of Marksheet / Transcript,etc. starting from that of the SLC
• Copy of Citizenship Certificate / Passport
• Copy of Character Certificate
• Receipt of fee paid.
Fee Structure
Registration fee for Foundation course is Rs. 15,000/- to be paid at the time of registration. However, this can also be paid on installments. Accordingly, Rs. 7,500 shall be paid at the time of registration and balance amount shall be paid within 30th November for the students registered till 31st May and within 31st May of the next year for the students to be registered till 30th November. The registration fee shall not be refundable and includes cost of Institutes’ Study Material, Pre-test exam, Institute’s Newsletter and Institute's Journal.
Course Contents
The Foundation Course consists of six papers, each carrying 100 marks and divided into two groups:
Group I
PAPER 1: Fundamentals of Accounting
PAPER 2: Fundamentals of Economics
PAPER 3: Business Communication
Group II
PAPER 4: Mathematics and Statistics
PAPER 5: Management & Organizational Relations
PAPER 6: Fundamentals of Information Technology
Eligibility for Appearing in the Foundation Examination
For appearing in the foundation examination, students should complete the pre-test exams i.e. Postal and Hall. The students should pass in at least two papers of each subject i.e. minimum one from postal test and one from hall test or at least two from hall test papers in each subject and must secure a minimum of 40% marks in each paper.
Eligibility Certificate
After successful completion of Pre-test exam, eligibility certificate shall be issued to the student. A student shall get eligibility certificate at least two months ahead of examination date. The tests are conducted till the end of July for the students appearing in the December Examination and till the end of February for the students appearing in the June Examination.
Examinations
Examinations are held twice a year, one in June and the other in December.
Results
• A candidate shall be declared passed in the Foundation Examination only if he passes in both the groups.
• A candidate shall be declared passed in both groups simultaneously if he secures at one sitting :
i) a minimum of 40 % marks in each paper of each of the groups with an aggregate of 50 % of all the papers of each of the groups
OR
ii) a minimum of 40 % in each paper of both the groups and 50 % in aggregate of all the papers of both groups taken together.
• A candidate shall be declared passed in one group if he/she secures, at one attempt, a minimum of 40 % marks in each paper of the group and 50 % in aggregate of all the papers of that group.
Exemption
There is no exemption rule in Foundation Level
Verification of Marks
A candidate may apply, with requisite fees to the Institute, for verification of marks in any paper (s) within a period of 30 days from the date of publication of examination results. However, re-evaluation of the answers not permissible.
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A person in order to register in the Chartered Accountancy Intermediate Level should:
i) Passed the Foundation Course Examination, or
ii) be a Graduate or Post Graduate in Commerce, Business Administration or Management having secured a minimum of 50 % aggregate marks, or
iii) be a Graduate or Post Graduate other than (ii) above with a minimum of 60% aggregate marks.
Registration Procedures
Registration for Intermediate Course is open throughout the year. The duration of Intermediate course is
one year. Examinations are held twice a year, one in June and the other in December. For appearing in the
June examination, registration should be done on or before the end of May of the previous year, and on
or before the end of November of the previous year for the December examination.
Candidates must fill up the application form along with the following documents, duly attested by
authorized person or ICAN’s Officer and submits them to the Institute:
• Copy of Marksheet / Transcript starting from SLC
• Copy of Citizenship Certificate / Passport
• Copy of Character Certificate
• Receipt of fee paid.
Provisional Registration
Candidates who have appeared in the final year of graduation or post graduation examination
can register provisionally for Intermediate Level. However, such provisional registration shall be
confirmed only upon proof of having passed the aforesaid examination with minimum marks furnished
within a period of 6 months from the date of provisional registration.
Fee Structure
Registration fee for the Intermediate Level is Rs.20,000/-. It can be paid in full at the time of registration
along with other applicable fees. However, the registration fee can also be paid on installment basis.
Accordingly, Rs. 10,000 shall be paid at the time of registration and the balance amount to be paid within
30th November for the students registered till 31st May and up to 31st May of the next year for the
students registered till 30th November. The registration fee is not refundable and this includes the cost of
Institute’s study materials, pre-test exam, Institute’s Newsletter and Institute's Journal.
Course Contents
The Intermediate Course consists of Seven papers. Each paper carries100 Marks and is divided into two
groups:
Group I
PAPER 1: Advance Accounting
PAPER 2: Audit & Assurance
PAPER 3: Corporate & Other Laws
Group II
PAPER 4: Financial Management
PAPER 5: Cost & Management Accounting
PAPER 6: Business Communication & Marketing
PAPER 7:Income Tax & VAT
Eligibility for Intermediate Examination
For appearing in the examination students should complete the Pre- test exams -both Postal and Hall.
Students should pass in at least two papers of each subject with a minimum of one from each postal and
hall test or at least two from hall test papers in each subject and must secure minimum of 40% marks in
each paper.
Eligibility Certificate (EC)
After successful completion of Pre-test scheme, an eligibility certificate shall be issued to the student. A
student shall get eligibility certificate at least two months ahead of examination date. The tests are
conducted till the end of July for the students appearing in the December Examination and till the end of
February for the students appearing in the June Examination.
Examination Result
A candidate will be declared to have passed Intermediate Examination only if he passes in both the groups.
A candidate will be declared to have passed in both groups simultaneously if he secures at one sitting:
i) a minimum of 40 % in each paper of each of the group and an aggregate of 50 % of all the papers of
each of the groups
OR
ii) a minimum of 40 % in each paper of both the groups and 50 % in the aggregate of all the papers of
both groups taken together.
A candidate shall be declared to have passed in one group if he secures at one attempt a minimum of 40
% in each paper of the group and 50 % in the aggregate of all the papers of that group.
Exemption
A student who has scored 60 % or more in any paper(s) but has failed in that group, shall be entitled for
exemption in that particular paper(s), provided, he has scored a minimum of 30 % in any one of the
subjects of that group, and should have attempted all the papers in that group.
The exemption shall remain valid for the next three consecutive examinations but those students who are
entitled for exemption are not considered for rank.
Verification of Marks
A candidate may apply to the Institute within a period of thirty days from the date of declaration of results
of the examination accompanied with the requisite fees for verification of marks in any paper(s).
To enroll in the Final Level, a candidate must have:
i. passed both groups of Intermediate Level Examinations
ii. Registered as an articled trainee under a practicing Chartered Accountant by signing an articleship Deed.
It must however be noted that the Articleship Deed must be registered with the Institute within one month
from the date of signing the deed.
1. An application form shall be duly filled up.
2. Entered into a contract of articleship with a Chartered Accountant Member in practice to serve as an articled trainee for practical training.
3. The Articleship Deed shall be duly filled and signed both by the Principal and the Articled Trainee along with the following attested documents and submits to the Institute for registration as an articled trainee.
• Copy of Mark Sheet of Intermediate Examinations
• Copy of Certificate of Intermediate Examinations
• Receipt of Fee paid.
Duration of practical training
An articled trainee should undergo and complete a practical training within a period of three years. In order to gain practical experience, the articled trainee, at his discretion, may serve, as a practical trainee, any of
the financial, commercial or industrial undertakings for a period not exceeding more than one year.
Registration fee for the Final Course is Rs.20,000/-. It can be paid in full at the time of registration along with other payable fees. However, the registration fee can also be paid on installment basis. Accordingly, Rs. 10,000 shall be paid at the time of registration and balance amount within one year from the date of registration in Final Level. The registration fee is not refundable and this includes cost of Institute's study materials, pre-test exam paper, Institute’s newsletters and journals.
The Final Course consists of eight papers. Each paper shall carry 100 marks and is divided into two
groups:
Group I
PAPER 1: Advanced Financial Reporting
PAPER 2: Advanced Financial Management
PAPER 3: Advanced Audit & Assurance
PAPER 4: Corporate Laws
Group II
PAPER 5: Management Information & Control System
PAPER 6: Advanced Taxation
PAPER 7: Advanced Cost & Management Accounting
PAPER 8: Strategic Management & Decision Making Analysis
Eligibility for Appearing in the Final Examination
For appearing in the examination students should complete the Pre-test exam i.e. Hall Test only. The students should pass in at least one paper of each subject and must secure a minimum of 40% mark in each paper.
Eligibility Certificate (EC)
After successful completion of Pre-tests exam, an eligibility certificate shall be issued to the student. A student shall get eligibility certificate at least two months ahead of examination date. Tests are conducted till the end of July for the students appearing in the December Examination and till the end of February for the students appearing in the June Examination.
Examination
Examinations are held twice a year: one in June and the other in December.
Result
A candidate shall be declared to have passed the Final Examination only if he passes in both the groups.
candidate shall be declared to have passed in both groups simultaneously if he secures at one sitting:
i. A minimum of 40 % marks in each paper of each of the group and an aggregate of 50 % marks of all the papers of each of the groups
OR
ii. A minimum of 40 % marks in each paper of both the groups and 50 % in the aggregate of all the papers of both groups taken together.
Exemption
A student who has scored 60 % or more in any paper (s) but has failed in that group, shall be entitled for exemption in that particular paper (s), provided, he has scored a minimum of 30 % in any one of the subject of that group, and should have attempted all the papers in that group. The exemption shall remain valid for the next three consecutive examinations but those students who are entitled for exemption shall not be considered for rank.
Verification of Marks
A candidate may apply to the Institute within a period of 30 days from the date of publicationof examination results accompanied with the requisite fees for verification of marks in any paper(s). However, re-evaluation of the answers is not permissible.
- Members Entitled to train Articled Trainees
i. Only those Chartered Accountants members, who have obtained the Certificate of Practice as per Rule 49 of the Nepal Chartered Accountants Regulation 2004, are entitled to train articled trainees.
ii. A Chartered Accountant member, herein referred to as “Principal” also shall be entitled to train articled trainee.
iii. A Chartered Accountant member, who has not completed three years' practice, shall be entitled to train one articled trainee, if he is a partner in a firm of chartered accountants which has at least one partner entitled to train one or more articled trainees.
iv. A Chartered Accountant member, who has taken up practice as his main occupation after having been engaged in other occupation, shall be considered to have been in practice for the training purpose. - Stipend to articled trainees
Every principal concerned with the industrial training program, shall pay the articled trainee a minimum monthly stipend at the rates specified below:
1st Year NRs.2,000
2nd Year NRs. 2,500
3rd Year NRs. 3,000 - Industrial Training
(i) In order to gain practical experience, an article trainee may serve a particular industry as part of the practical training activity for a period not exceeding one year.
(ii) The industrial training shall be received under the supervision of a Chartered Accountant member of the Institute engaged in such an organization. This is subject to prior approval from the industrial organization to be served or from such principal.
(iii) The Principal, under whom the industrial training is being undertaken, shall be responsible for paying stipend to the trainee as per articled regulations, Rule 27 of Nepal Chartered Accountants Regulation 2004.
(iv) A Chartered Accountant is eligible to take up two Industrial trainee at a time.
(v) Leave taken by the trainee during the period of industrial training shall be adjusted within the total leave granted to him during three years' period of training.
(vii) An articles trainee desirous to join industrial training shall have to fulfill the following conditions. The articled trainee :
a. must have enrolled in Chartered Accountancy Final Course.
b. must have served at least two years as an articled trainee prior to commencement of the industrial training.
c. shall convey to his principal his intention of taking the training at least three months before the date of commencement of the training program. Approval of the Council must be obtained where a student wishes to undergo industrial training under a foreign principal. - Termination of deed of articleship:
i. The deed of articleship can be terminated at any time through mutual consent of both articled trainee and his principal.
ii. Information regarding termination of the deed of articleship must be reported to the Institute within seven days from the date of termination.
iii. After the termination of the deed of articleship, the articled trainee may be assigned to another principal for the remaining period of practical training.
iv. If an articled trainee remains absent continuously for more than 15 days without any prior information, the Principal may request to the Institute for permission to terminate the trainee's deed of articleship. The Institute may grant permission to terminate the deed of articleship after proper investigation on the request forwarded.
v. The principal with one month's prior permission from the Institute and similar information from the articled trainee can terminate the deed any time. - Notifying the Principal's position
In case a principal dies or gives up his accountancy profession or is unable to continue his training job for some unforeseen reasons, his partner, or any or his legal representative or an employee working in his accounting firm shall have to inform the Institute of submit a report about the principal's situation within 30 days from the date of the above occurrence with detailed information about the articled training. - Record of Trainees
The Principal shall keep an updated individual record of every articled trainee's performances in the prescribed format and shall report detailed particulars of training of individual articled trainee to the Institute in every six months or as and when demanded by the Institute. - Leave to an articled trainee
The Principal shall keep an updated individual record of every articled trainee's performances in the prescribed format and shall report detailed particulars of training of individual articled trainee to the Institute in every six months or as and when demanded by the Institute. - Working hours of articled trainees
The working hours of an articled trainee shall be 40 hours a week and working hours must be between 9 AM to 5 PM. - Issue of Certificate of Completion of Articleship
The principal shall inform the Institute successful completion of the articleship training in the prescribed form. The Institute, after receiving such information from the Principal, shall issue Certificate of Completion of Articleship to the students successfully completing the articled training.