Low-Cost Commerce Courses After 10+2
For students who study Commerce in Classes 11 and 12, there are options beyond BCom. Many students consider one of the three professional courses offered by cost and accounting bodies. The courses include Chartered Accountancy (CA), Cost Management Accounting (CMA) or Company Secretary (CS).
These can be taken up right after school and studied along with the undergraduate programme. But how much does it cost and is it expensive to pursue these? That and more questions are answered below.
Chartered Accountancy
Commonly called CA, the course is offered by the Institute of Chartered Accountants of India, a statutory body. It is the professional body for chartered accountants in the country and trains students in taxation, finance, business advisory services and more. The Chartered Accountancy or CA course has three levels: Foundation, Intermediate and Final. Students have to clear all three for ICAI membership and to practise as a chartered accountant.
CA Overview
Exam Name | ICAI CA |
Conducting Body | The Institute of Chartered Accountants of India |
Course | Chartered Accountancy |
Exam Level | National-Level Exam |
Exam Frequency | Twice a year for each level |
Exam Mode | Online |
Levels of Exam | Three levels
|
Language | English/ Hindi |
No. of Test Cities | 164 cities in India and 35 chapters abroad |
Official Website | www.icai.org |
Chartered Accountancy Levels
Levels | Assessment Criteria |
Foundation | Application, Comprehension and Knowledge |
Intermediate | Analysis and Application, Comprehension and Knowledge |
Final | Evaluation and Synthesis, Analysis and Application, Comprehension and Knowledge |
1. CA Foundation Course
This is the entry level and open to students who have passed Class 10 or equivalent exam. The first step is to register for the CA foundation course. The Foundation Course consists of four papers - two subjective and two objective. The CA Foundation exams are held in May and November. Course registration is valid for three years and can be revalidated any number of times for a further three years.
Who can appear for the CA Foundation Exam?
Students appearing in the Class 12 exam
Students who complete four months of study after registration. Those who have registered on or before January 1 or July 1 can appear in the May or November exam.
Foundation Course Registration Fee
Particulars | Fees |
Cost of Foundation Prospectus | Rs 200 |
Foundation Registration fee | Rs 9,000 |
Subscription for Students’ Journal (For 1 Year) (Optional) | Rs 200 |
Subscription for Members’ Journal (For 1 Year) (Optional) | Rs 400 |
2. CA Intermediate Course
At this stage, only the working knowledge of core and allied subjects is covered. Students in their final year of graduation can register for CA Intermediate Course on a provisional basis. The Intermediate Course registration is valid for four years and can be revalidated any number of times for a further four years period by paying a fee.
Eligibility Criteria
Those who have passed the CA Foundation exam
Commerce graduates or postgraduates with at least 55% marks
Graduates or postgraduates in any other discipline with 60% marks
Candidates who are in their final year of graduation course can join provisionally. They are required to submit the proof of graduation within six months from the date of appearance in final year exams.
CA Intermediate Course Registration Fee
Particulars | Fees (Both Groups) | Fees (Group 1/ 2) |
Registration fee | Rs 15,000 | Rs 11,000 |
Student Activities Fee | Rs 2,000 | Rs 2,000 |
Registration Fee as Articled Assistant | Rs 1,000 | - |
Total | Rs 18,000 | Rs 13,000 |
3. CA Final Course
The Final Course is the last stage of the Chartered Accountancy curriculum. Students who have qualified all the papers of Group 1 and 2 in the Intermediate Course can register for the CA Final Course. Students are allowed to appear in the Final exam during the last six months of practical training after successful completion of the four weeks Advanced Integrated Course on Information Technology and Soft Skills (AICITSS). The Final Course registration is valid for five years and can be revalidated any number of times for a further five years period by paying a fee.
Eligibility: Candidates who have passed all the papers of both Group 1 and 2 in the CA intermediate Course.
Final Course Registration Fee: Rs 22,000
2. Cost Management Accounting
A Statutory body under an Act of Parliament, The Institute of Cost Accountants of India is a professional body of management accountants in India. It comes under the administrative jurisdiction of the Ministry of Corporate Affairs, Government of India and is a member of the International Federation of Accountants (IFAC), The Confederation of Asian and Pacific Accountants (CAPA) and The South Asian Federation of Accountants (SAFA).
It has 4 Regional offices at Kolkata, Mumbai, Chennai and New Delhi, 91 chapters across the country, 9 centres abroad. More than 5 lakh students are registered with the institute which also has about 70000 members(CMAs) serving in various roles across the world.
The Cost Management Accounting (CMA) course offered by the institute has three stages: Foundation, Intermediate, and Final. Details are given below.
ICWA CMA Overview
Exam Name | ICWA CMA |
Conducting Body | The Institute of Cost Accountants of India |
Course | Cost Management Accounting |
Exam Level | National Level Exam |
Exam Frequency | Twice a year |
Levels of Exam | Three levels
|
Career Opportunities | Financial Analyst, Research Analyst, Cost Manager, Chief Accountant, Auditor, Financial Controller |
Language | English/ Hindi |
Official Website | icmai.in |
1. CMA Foundation Course
The entry level to ICWA CMA is the foundation course. Class 10 passed students are eligible to apply for the foundation course while students who have passed Class 12 can appear for foundation exam. The CMA Foundation Course consists of four papers and its duration is eight months. The foundation exams are held twice a year. The course registration is valid for three years and can be revalidated any number of times for a further three years.
Eligibility:
Candidates who have passed Class 10 or equivalent
Students who have passed Class 12 or equivalent can also apply
Those awaiting final results can apply for provisional admission
Foundation Course Registration Fee
Particulars | Fees |
Oral course fee | Rs 6,000 |
Postal course fee | Rs 6,000 |
2. CMA Intermediate Course
The ICWA CMA intermediate examination is conducted to assess skills gained in the foundation course. After qualifying the foundation exam, students are required to pursue the CMA Intermediate course. Students learn about financial accounting in depth and are introduced to various financial sections such as direct and indirect taxation, cost accounting, and more. On completing the course, students are required to appear for the Intermediate exam.
Eligibility:
Should have passed Class 12 or
Completed the foundation exam level of the Institute of Cost Accountants of India or qualified the Intermediate (Entry Level) Part I examination of Certificate in Accounting Technicians (CAT) Course of the Institute of Cost Accountants of India or
Completed graduation from a recognized university or equivalent in any subject other than music, dancing, photography, painting and sculpture/ pursuing Engineering and have completed year two/ semester IV/ equivalent or are qualified engineers
CMA Intermediate Registration Fee
Oral | Postal | ||
Option I (Without Installment) | Option II (With Installment) | Option I (Without Installment) | Option II (With Installment) |
Rs 23,100 | Rs 12,000 Rs 11,100 | Rs 23,100 | Rs 12,000 Rs 11,100 |
3. CMA Final Course
This is the last stage in the journey to become a CMA. Candidates who have qualified in the Intermediate exam are eligible to enrol for the course. They need to complete the “Industry Eligible to enrol for Final Course Examination Oriented Training” and 50 hours additional Computer Training (if applicable) to appear for the final exam.
Eligibility
Should have qualified the CMA Intermediate exam
Should have a valid registration number
They should have completed prescribed training of the CMA Final course
CMA Final Registration Fee
Oral | Postal | ||
Option I (Without Instalment) | Option II (With Instalment) | Option I (Without Instalment) | Option II (With Instalment) |
Rs 25,000 | Rs 15,000 Rs 10,000 | Rs 25,000 | Rs 15,000 Rs 10,000 |
3. Company Secretary (CS)
A national professional institute set up by an act of parliament, the Institute of Company Secretaries of India (ICSI) functions under the aegis of the Ministry of Corporate Affairs,
Government of India. Set up to regulate and develop company secretaries, ICSI is headquartered at New Delhi and has 4 regional offices at Chennai, Kolkata, Mumbai, New Delhi and 70 Chapters (including 1 in Dubai).
The CS course has been restructured in recent times and now has two stages - Executive and Professional. Admissions to the CS Executive Programme is through the Company Secretary Executive Entrance test (CSEET). CS Executive qualified students can go for the Professional course.
Company Secretary Course Overview
Course Name | Company Secretary |
Level and CS course duration | The CS programme comprises two levels: Executive - 9 months Professional - 15 months |
Eligibility criteria | CS Executive: Qualify CSEET exam. Candidates need to pass the Class 12 exam CS Professional: Candidates should have passed the CS executive exam |
Company secretary job profiles | Legal Advisor, Corporate Policymaker, Corporate Planner, Chief Administrative Officer |
CS learning mode | Classroom or postal coaching |
CS registration valid until | 3-5 years |
Education opportunities after CS | PhD in Commerce, Management and Law |
Compulsory training duration for CS course | 15 months |
1. CS Executive Programme
The first stage in the CS qualification, the CS executive programme comprises two modules with four papers each. Students who qualify this, need practical training as specified to appear for the Professional exam.
Eligibility Criteria
Admission to CS Executive course through two means direct and entrance examination. The eligibility criteria for both have been given below.
For Admission Through Entrance Exam:
Passed Class 12 in any discipline except Fine Arts
Graduates and postgraduates also eligible
Qualified in Company Secretary Executive Entrance Test (CSEET) of ICSI or
Passed the CS Foundation exam
For Direct Admission:
Passed CS Foundation or
Passed ICAI Final or
Passed ICMAI Final
Company Secretary Executive Registration Fees
Particulars | Fees as per course completed | |||
CSEET | CS Foundation | CA Final | ICMAI CMA Final | |
Registration Fee | Rs 2,000 | Rs 2,000 | Rs 2,000 | Rs 2,000 |
Education Fee | Rs 6,500 | Rs 6,500 | Rs 6,500 | Rs 6,500 |
CSEET Exemption Fee | Nil | Nil | Rs 5,000 | Rs 5,000 |
Pre-Exam Test Fee | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 |
One Day Orientation Program | Rs 600 | Rs 600 | Rs 600 | Rs 600 |
Chartered Secretary Journal Subscription (Optional) for 1 Year | Rs 500 | Rs 500 | Rs 500 | Rs 500 |
Total Fees | Rs 10,600 | Rs 10,600 | Rs 15,600 | Rs 15,600 |
2. CS Professional Programme
Candidates who have cleared the CS Executive programme can apply for the CS Professional course.
Company Secretary Professional Registration Fees
Education Fee | Rs 12,000 |
Pre-Exam Test Fee | Rs 1,000 |
Total Fees | Rs 13,000 |
These are some of the commerce courses that come at a relatively low cost and are all over by public institutions or organisations. Despite being less known, these courses typically offer good jobs on completion. Some of the job roles which students get after these courses are Internal Auditing, Tax Auditing, Forensic Auditing, Career in, Accounting and Finance, Taxation Advisory (Both Direct and Indirect), Statutory Audit under applicable statutes, Managing Treasury function, etc.
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