Monday, September 16, 2013

    Studying Chartered Accountancy(CA) in Nepal: CA-A global qualification

    Chartered Accountancy (CA) remains a highly preferred career option for students who want to land high-ranking jobs in domestic as well as international organisations.

    CA imparts the best combination of theoretical knowledge, practical experience with analytical as well as technical skills on a student, making them capable of looking after the entire operation and management of a modern business organisation. Chartered accountants, of late, are being considered business leaders who can take up roles beyond auditing and financial management.

    The demand for CAs is on the rise along with the growing private sector. Despite being one of the most attractive professions, the number of CAs is still, experts say.

    In the past, students who wished to pursue CA were compelled to go abroad or India. But now, over a dozen institutes have been offering the CA degree in affiliation with the Institute of Chartered Accountants of Nepal (ICAN) and the Institute of Chartered Accountants of India (ICAI). With the improvement in technology, many of the institutes are also offering foreign degrees through online means.

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    CCMA College, CIMA Academics and Prime Chartered Academy, among others, are the leading names offering CA programme. CA is a five-year course. The course includes a two-year curriculum-based intensive study, and a three-year Articleship, practical-based training.

    CCMA College, one of the prominent institutes situated in Putalisadak, Kathmandu, has been offering CA degree since 2003. The college, which is accredited by both ICAN and ICAI, claims to be equipped by professionals and experts in the areas concerned. The institute also claims to be providing incomparable services in the field of Accounts, Finance, and Taxation through regular programmes and tailor-made packages to the pursuant.

    "CA is a highly professional degree which enables the students to specialise mainly in the area of law, taxation, audit and other financial areas," said Deepesh K  Thapaliya, managing director of CCMA. According to him, the degree holders can work independently as a financial consultant in audit firms, the government agencies, tax department and academic institutes, besides opening a CA firm of their own.

    CA is considered a highly reputed degree which enables the degree holder to easily pursue a professional career. "Even fresh CA graduates could present their candidacy for the first class officer in government or private organisations," said Thapaliya.

    CCMA envisions preparing professional experts for trade, industry and commerce. It strives particularly for instilling need-based skills in students.

    CCMA has been providing intensive coaching classes designed by ICAN and ICAI. The curriculum from ICAN has been divided into three segments. CAP-I is eight-month foundation course, while CAP-II is one-year intermediate course and CAP-III is thee-year final-level course that also includes Articleship.

    Under the ICAI programme, CPT is a six-month foundation course. The second level is called IPCC that is a nine-month course, while CA final is three-year course with Articleship.

    According to Thapaliya, the students can study first two levels of the ICAI programme in Nepal, while for the final three years, they must have to enrol in an Indian institute.

    So far, CCMA has 56 CA passouts from. It claims its students hold good positions in reputed organisations both inside and outside the country. Intakes at CCMA are open June and December every year.

    Earlier, CA used to be considered suitable only for students with management background. However, even science students are getting attracted towards CA. "As there is high competition to pursue engineering and medical degree apart from being expensive, many students from science are also being attracted towards CA," said Thapaliya.

    The total cost for completing the programme at CCMA is Rs 286,200 and Rs 226,600 for ICAN- and ICAI-based courses, respectively.

    An estimated 7,000 students were enrolled in CA by the end of the last fiscal year. According to ICAN, 230 students have passed out so far in the ICAN-based course. As per the institute, CA graduates from ICAI still have to get through three additional subject papers, including law, taxation and audit, to be eligible to work as CA in Nepal.

    "Due to higher possibility of getting good jobs and relatively lower cost for course completion, many students are getting attracted towards the degree," said Tanka Lal Shrestha, coordinator at Prime Chartered Academy, New Baneshwor. The institute has also been offering CA degree from both ICAN and ICAI.

    Established in 2004, Prime has 200 CA passouts, while 300-400 are currently enrolled. The total cost for CA in Prime is Rs 250,000-300,000.

    CA has been an attracting option for Plus Two passouts from any background like science, humanities or commerce. Bikash Adhikari, a student who has just enrolled for CA foundation course at CCMA, said he enrolled for the degree because of good future prospects. "Although the course is challenging, its scope looks brighter and broader," he said.

    source:the kathmandu post,15 Sep 2013

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