Intermediate Level: Entry level for Direct Route
This is the first stage of the Chartered Accountancy curriculum wherein only working knowledge of core and allied subjects to accountancy profession is covered, while at the Final course, advanced application knowledge of core and allied subjects to accountancy profession has been intended to be inculcated. The unique feature of the entire theoretical education of the Chartered Accountancy curriculum is the supportive and complementary practical training. A student would undergo theoretical education and three years of practical training compulsorily during the course of Chartered Accountancy. This balanced approach will help the students to appreciate the underlying practical applications of the theoretical education scheme.
In order to develop a strong theoretical base, students of Intermediate Course, who have registered through Foundation Course route or Intermediate level examination passed students of The Institute of Cost Accountants of India or The Institute of Company Secretaries of India, are required to undergo eight months study course before appearing for the first time in the Intermediate Examination. Since proper understanding of the modern world necessitates knowledge of present day technology and skills, students are imparted Four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS) before joining for the practical training. It is to be noted that such students can join practical training only after passing either or both Groups of Intermediate Course.
Candidates who are Graduates/ Post Graduates in Commerce having secured in aggregate a minimum of 55% of the total marks or its equivalent grade in the examination conducted by any recognized University (including open University) by studying any three papers carrying a minimum of 50 marks in a semester/year and cumulatively100 or more marks over the entire duration of the concerned course out of Accounting, Auditing, Mercantile
Laws, Corporate Laws, Economics, Management (including Financial Management), Taxation (including DirectTax Laws and Indirect Tax Laws), Costing, Business Administration or Management Accounting or similar to the title of these papers with different nomenclatures
other than those falling under Commerce stream having secured in aggregate a minimum of 60% of the total marks or its equivalent grade in the examination conducted by any recognized University (including Open University) are exempted from qualifying Foundation and are eligible for straight away registration to Intermediate Course and undergo ICITSS.
They can register for practical training after completing ICITSS and need not wait for clearing any group of Intermediate Examination. They are eligible to appear in the Intermediate Examination after completion of nine months of practical training. Students who are pursuing the Final year Graduation Course can also register for the Intermediate Course on provisional basis and such students’ registration would be regularised and they can commence practical training only on submission of satisfactory proof of having passed the Graduation examination with the specified percentage of marks within six months from the date of appearance in the final year Graduation examination.
During the provisional registration period, a student can undergo and complete ICITSS. If such student fails to produce the proof within the aforesaid period, his provisional registration shall stand cancelled and the registration and other fees, as the case may be, paid by him shall not be refunded/ adjusted and no credit shall be given for the theoretical education undergone.
Intermediate Course registration is valid for 4 years and can be revalidated any number of times for further 4 years period by paying revalidation fee of Rs. 400/- or as decided by the Council from time to time. The subjects of Intermediate Course are classified into two groups which a student can study and appear in the examination group-wise or both the groups together.
Subjects covered in Intermediate Course
Paper 1: Advanced Accounting
Paper 2: Corporate Laws
Paper 3: Cost and Management Accounting
Paper 4: Taxation
Paper 5: Auditing & Code of Ethics
Paper 6A: Financial Management (50 Marks)
Paper 6B: Strategic Management (50 Marks)
Direct Entry Route