Guide to the second level of the CA Exam: CA Intermediate

Guide to the second level of the CA Exam: CA Intermediate

Guide to the second level of the CA Exam: CA Intermediate !!

If you want to go ahead and become a Chartered Accountant, then the CA Intermediate exam is a crucial step. It's an important milestone in your journey towards success, so it's important to plan and give yourself the best chance to qualify this exam. In this blog you'll get an in-depth look at the CA Intermediate exam, including what it is and when it takes place, as well as who can take part and which are some of the best CA Entrance Exam books you can choose to get the best results in your CA Intermediate Exam.

Let’s get started!

What is the CA Intermediate exam?

The CA Intermediate exam is an important part of becoming a certified Chartered Accountant. It’s the second stage of the CA course and tests candidates on their knowledge and understanding of accounting principles, laws, regulations, standards, and practices. The syllabus covers a range of topics such as economics, auditing, taxation, and corporate law - so it’s no walk in the park! To pass this tough test you need to have strong analytical skills and be able to interpret complicated information quickly. For a better understanding of all the subjects of this level, students can prefer CA Intermediate Books published by Shuchita Prakashan. Those who make it through will gain invaluable insight into how businesses operate financially – making them highly sought-after professionals in the industry. The CA Intermediate exam is typically held twice a year.

Who is eligible to take the CA Intermediate exam?

Eligibility Criteria for CA Intermediate Registration 2023:

The eligibility criteria to register for the CA Intermediate 2023 exams are as follows:

1. Through Foundation Route:

• Students who have cleared the CA Foundation exams are eligible to register for the CA Intermediate course.

2. Through Direct entry route:

• Graduates/ Post Graduate in Commerce who have secured a minimum of 55% can register directly for Intermediate.

• Non-commerce Graduates/ Post Graduates can also register for Intermediate by securing 60% marks in Graduation/ Post Graduation.

• Students who cleared the Intermediate level of the Institute of Cost Accountants of India or The Institute of Company Secretaries of India.

The above students can get registered directly for the Intermediate level without passing the entrance level.

Check this link for more details. 

Syllabus: 

Candidates who successfully complete the foundation level can proceed to the intermediate level, which is the second level of the CA program. Two groups of four papers each make up the intermediate level. 

CA Intermediate covers the following subjects: 

• Group 1:

• Paper 1- Accounting: This subject covers various topics such as financial reporting standards, preparation of financial statements, analysis and interpretation of financial statements, and accounting for different types of business transactions. The subject also includes topics related to strategic financial management, such as financial analysis, financial planning and budgeting, and working capital management. The objective of the accounting subject in the CA Intermediate Exam is to test the candidates' knowledge and understanding of the concepts and principles of accounting and their ability to apply them to practical situations.

• Paper 2- Corporate and Other Laws: It covers various topics related to the laws and regulations that govern the functioning of businesses in India. Some of the topics covered in this subject include the Companies Act, 2013, the Limited Liability Partnership Act, 2008, the Partnership Act, 1932, and the Securities and Exchange Board of India (SEBI) Listing Regulations. The aim of the Corporate and Allied Laws subject in the CA Intermediate Exam is to test the candidates' understanding and knowledge of the legal framework within which businesses operate in India and their ability to apply that knowledge in practice. 

• Paper 3- Cost and Management Accounting:  It covers various topics related to the principles and techniques of cost accounting, management accounting, and financial management. Some of the topics covered in this subject include cost classification, cost behavior, cost-volume-profit analysis, budgeting, standard costing, variance analysis, and decision-making. Candidates taking the CA Intermediate Exam will be tested on their understanding and application of the concepts and principles of cost and management accounting.

• Paper 4- Taxation: This subject covers various topics related to the principles and practices of taxation in India. The syllabus for the taxation subject includes direct tax laws, such as the Income Tax Act, 1961, and indirect tax laws, such as the Goods and Services Tax (GST) Act, 2017. Candidates' ability to apply concepts and principles of taxation to practical situations is tested in the taxation subject of the CA Intermediate Exam.

• Group 2:

• Paper 5- Advanced Accounting: Advanced accounting refers to the study of complex and specialized accounting topics, such as business combinations, foreign currency transactions, and financial instruments. It builds upon the foundational knowledge of financial accounting and extends it to more advanced topics that are typically encountered by accounting professionals working in large organizations or in public practice. This subject covers more advanced topics in accounting, such as consolidation of financial statements, partnership accounts, and accounting for companies.

• Paper 6- Auditing and Assurance: Auditing and Assurance is a subject that deals with the principles and practices of auditing, which is the independent examination of financial statements to assess their accuracy and fairness. The objective of auditing is to provide assurance that the financial statements of an organization are reliable and free from material misstatement. Auditing and assurance is an important subject for professionals working in the field of accounting and finance, as it helps them understand the processes and procedures involved in conducting an audit and providing assurance on the reliability of financial statements.This subject covers the principles and practices of auditing, including the role of the auditor, the planning and conduct of an audit, and the reporting of audit findings. 

• Paper 7- Enterprise Information System and Strategic Management: This Enterprise Information System and Strategic Management Subject provides a comprehensive overview of the use of information technology in business and strategic planning and management of organizations. The subject covers a variety of topics, including the basics of information technology, the application of IT to business operations, the development and implementation of IT strategies, and the use of IT for strategic planning and decision-making. This subject is designed to help students understand the importance of IT to business success and will provide them with the skills to design, develop, and implement IT-based strategies and solutions.

• Paper 8- Financial Management & Economics for Finance: Financial Management & Economics for Finance is a subject that covers various topics related to financial management and economics as they relate to the field of finance. Financial management involves the processes and activities involved in the management of an organization's financial resources, such as budgeting, financial planning, and the allocation of capital. Economics for finance involves the study of economic principles and concepts that are relevant to the field of finance, such as microeconomics, macroeconomics, and financial economics.

Documents Required for CA Intermediate Registration

Check the documents needed to register for the CA Intermediate exams:

• A student choosing the CA foundation path should submit an attested copy of their 10+2 mark sheet and a copy of the CA foundation main exam paper. 

• Students choosing the direct entry route must submit attested copies of their graduation or post-graduation certificates.

• A color photograph which was recently taken affixed to the form.

• Proof of identity and nationality (Aadhar Card for eg.). An attested copy will suffice.

• Proof of special category such as SC/ST/BC or disabled. An attested copy of the same.

Final Words: 

The CA Intermediate exam is a challenging and rewarding experience that can help you take your career to the next level. If you have been thinking about taking this important examination, it's important to start planning ahead as soon as possible. I hope after reading this blog you’ll be able to understand everything about the CA Intermediate level and also which are some of the best CA Entrance Exam Books for you. With some diligent studying and focused preparation, you can make sure that you are ready for the CA Intermediate exam. Good luck!