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FAQ CA Courses

 

  1. Which University or Board is the CA course administered by?

Unlike degree courses, CA course isn’t administered by any university. This education is imparted by the autonomous body, which is established under the special Act of Parliaments of the county. In Nepal, CA course is regulated by The Institute of Chartered Accountants of Nepal (ICAN).

 

  1. What is ICAN?

The Institute of Chartered Accountants of Nepal (ICAN) was established under The Nepal Chartered Accountants Act, 1997 to enhance social recognition and faith of people at large in the accounting profession by raising public awareness towards the importance of accounting profession as well as towards economic and social responsibility of the accountants, and to contribute towards economic development of the country. The Institute is an autonomous body and is fully authorized by the Act to regulate accountancy profession in Nepal.

 

  1. What type of course is Chartered Accountancy?

Chartered Accountancy is a professional course specially designed to produce Chartered Accountants to perform auditing works and provide professional consultancy services. Chartered accountants are mainly recognized for their financial expertise, technical competence, professional standards, and veracity.

 

  1. Who can join CA Course?

10+2/ equivalent passed students from any stream with minimum 2.4 CGPA and minimum D+ in any paper can register with ICAN for CAP-I. XII exam appeared students who have secured 2.4 GPA in grade XI and are expecting to maintain at least the same can register provisionally before publication of results.

 

  1. Is this course difficult for students from science stream?

This course is designed in a way so that students from all streams without prior knowledge of commerce can study it. Many students from science faculty have become Chartered Accountants.

 

  1. Is an entrance test required for registration in CA course?

No entrance test is required for registration in CA course. Students from any stream who have maintained the eligibility can join.

 

  1. Should students themselves get registered with the Board of Studies of ICAN?

Yes, students should proceed themselves to get registered with Board of Studies of ICAN by following the required procedures. For more details, visit www.ican.org.np

 

  1. When can students get registered with the Board of Studies of ICAN?

Registration is open throughout the year but students must get registered at least prior to a specified period before final examination.

Final examinations for CA course are held two times in a year i.e. in June and December CAP-I: Students must get registered at least 6 months before the final examination. Thus, For December examination, they must get registered by the end of May and for the June examination, they must get registered by the end of November.

CAP-II: Students must get registered 9 months before the final examination. Thus, For the June examination, students must get registered by the end of August and for the December examination, they must get registered by the end of February.

CAP-III: Students will be eligible to appear for the final examination after the completion of at least 2 years of articleship period.

 

  1. How long the registration remains valid for each level of CA course ?

CAP-I: 3 years.

Students can re-register after 3 years, if required.

CAP-II: 5 years.

Students can re-register after 5 years, if required.

CAP-III: The registration is valid till the time students complete CAP-III level.

 

  1. What is the duration of CA course ?

CAP-I: 6 months

CAP-II: 9 months

CAP-III: 3 years

Normally, the result waiting period for each level is about two and half months.

Thus, altogether the course duration is about 5 years.

 

  1. What is the total cost of CA course?

Cost of course includes:

  1. Cost related with Board of Studies: It includes level wise registration fee, examination fee, IT training, GMCS cost etc.
  2. Educational fee: It includes the educational fees payable to educational institutions for taking classes and other supports. Like university courses, students can do self-study to save this cost.

The total cost comes around Rs. 4,50,000 altogether.

 

  1. What is the scope of the Chartered Accountancy course?

With rapid increase in economic activities throughout the world, the value of Chartered Accountancy course has skyrocketed like never before. Chartered Accountancy is a prestigious and rewarding profession in the society. It is a challenging career that imparts the best of technical skills in financial and management areas. Some of the professional tasks carried out by the Chartered Accountants include.

Audit:

– Statutory Audit

– Tax Audit

– Internal Audit

– Management Audit

– Performance Audit

– Quality Audit

– System Audit, etc.

Consultancy Service:

– Accounting consultancy

– Tax consultancy

– Consultancy for company law matters

– Preparation of project reports and feasibility study report

– Management accounting system, cost control and value analysis.

– Budgeting, Inventory management working capital management.

– Business policy

Other Services

– Income certification

– Personnel recruitment and selection

– Advice regarding amalgamations and mergers

– Drafting of articles, memorandum and prospectus, etc.

Job

Instead of rendering professional services, the Chartered Accountants can join government or public or private sector organizations and hold the responsible positions. They are expected to have a greater understanding of and experience in the fields of business finance, information technology, corporate management, etc. Thus, Chartered Accountants may render their expertise as CEO, Managing Director, Finance Director etc. to the various sorts of organizations. Chartered Accountants today hold top management positions in public as well as private sector enterprises.

Business

As the subject matters are mostly related to business and economy, Chartered Accountants can do well in business.

 

  1. What are the subjects to be studied in this course?

In general, the subjects of CA course are related with Accountancy, Finance, Audit, Corporate Laws, Income Tax, Management, etc. In particular, the following are the subjects at different levels:

CAP-I:

Paper -1: Fundamental of Accounting 100 marks

Paper- 2: Part A: Mercantile laws 50 marks

Part B: Fundamental of Economics 50 marks

Paper-3: Part A: Fundamental of Management 50 marks

Part B: Commercial Mathematics and statistics 50 marks

 

CAP-II

Group-I

Paper -1: Advance Accounting 100 marks

Paper- 2: Audit and Assurance 100 marks

Paper- 3: Corporate and other Laws 100 marks

 

Group-II

Paper-4: Financial Management 100 marks

Paper-5: Cost and Management Accounting 100 marks

Paper-6: Business Communication and Marketing 100 marks

Paper-7: Income Tax and VAT 100 marks

 

CAP-III

Group-I

Paper -1: Advanced Financial Reporting 100 marks

Paper- 2: Advanced Financial Management 100 marks

Paper- 3: Advanced Audit and Assurance 100 marks

Paper-4: Corporate Laws 100 marks

Group-II

Paper-5: Management Information and Communication System 100 marks

Paper-6: Advanced Taxation 100 marks

Paper-7: Advanced Cost and Management Accounting 100 marks

Paper-8: Strategic Management and Decision Making Analysis 100 marks

 

  1. What is a Postal Test?

Postal test is a pre-test examination that must be cleared by the students to be eligible for appearing in the final examination. Students are provided a set of papers at the time of registration which they are required to solve at home under examination conditions and submit them to ICAN. These test papers can be submitted personally or by post. A student is allowed to submit two papers of each subject free of cost. However, students wishing to attempt more than two set papers shall be charged an additional fee of Rs.300/-per paper. The students must secure a minimum of 40% marks in each subject to be eligible for appearing in the board exam.

For CAP I, students must clear the postal test. For CAP-II and CAP III, students must clear the Pre-test examination either Postal test or Hall test as relevant.

 

  1. What is Hall Test?

The Hall Test is a Pre-test exam that should be cleared by those students of CAP-II who registered their name in the Head Office of ICAN. The students of CAP-III also should complete

Hall Test to be eligible for appearing in the final examination.

Under this scheme, tests are taken in an examination hall by ICAN. Such tests are held every Saturday.

Student can sit for Hall Tests as many times as they wish to but only two sittings per subject is allowed free of cost. Extra sitting is chargeable at Rs300/-per paper. A student should register online for the Hall Test at least three days prior to the desired test date. The tests are conducted

till the end of July for the students appearing in the December Examination and till the end of January for the students appearing in the June Examination.

 

  1. What is Articleship?

Articleship is a mandatory training that students must get under a practicing Chartered Accountant once they have passed CAP-II. The duration of articleship is of 3 years during which, students learn practical skills and knowledge that can be applied after becoming Chartered Accountants. Articleship in chartered accountancy is similar to internship of other professional courses like medicine, engineering etc.

 

  1. Do students earn during the articleship period?

During the articleship period, students are paid certain amount as a stipend on monthly basis for their time and efforts to accomplish the tasks assigned.

As per ICAN, the Article Trainee shall be paid minimum monthly stipend at the rates specified below:

1st Year Rs. 4,000 per month,

2nd year Rs. 5,000 per month

3rd Year Rs. 7,000 per month

Generally, Article Trainees are paid more than the rates specified by ICAN.

 

  1. What is IT training? When should it be taken?

ICAN provides IT training to students who have appeared the final examination of CAP-II. This IT training involves a basic level of 60 hours course which comprises Computer Fundamentals, Spreadsheets, Presentation, Database, Office Utilities, Automation Tools, Computerized Accounting, etc.

CAP-II level’s IT training must be completed for joining CAP-III.

In CAP-III level, students should complete 40 hours advance level IT training course which comprises Advance Spreadsheets, IT Auditing and Computer Aided Audit Tools & Techniques, E-commerce & Electronic Data Interchange and E-Filling & Verification of Electronic Records. The students should apply to ICAN for managing the IT training for them.

 

  1. What is the passing criteria in CA?

Students should secure minimum 40% in each paper & minimum 50 % marks in aggregate in all levels.

 

  1. What is GMCS?

General Management and Communication Skills (GMCS) is a 15 days full time mandatory training which is managed by ICAN. This program has been designed to improve skills in oral, written and non-verbal communication. This program will help in developing General Management, Personality Development and Communication Skills that would enable the CA student to occupy higher general management positions and even aspire to become the head of corporate organizations.

 

  1. Is there any academic course that should be pursued along with the CA course?

The CA course is completely a professional course. Along with this course, an academic course such as BBS can be pursued simultaneously which would be an added perk on your resume. Some Government Offices, Public Limited Companies etc may require academic degrees also along with CA.

 

 

  1. Why is the BBS course appropriate along with the CA course?

Bachelor of Business Studies (BBS) is a 4 years academic course which is recognized in Nepal as well as abroad. Students of CA course can fulfill the requirement of BBS course conveniently because many of the BBS course matters are covered while studying CA course. Thus, it becomes easy for CA students to pass BBS with good marks.

 

  1. Is there facility of studying BBS course at PRIME CA along with Chartered Accountancy course?

Yes, Prime CA has BBS, MBS, BBM and BCA programs affiliated with TU. Since BBS is a very appropriate course for students who study CA, the students of PRIME do not need to roam anywhere else to study BBS along with CA.

 

  1. Is studying BBS along with CA not difficult?

Most of the subject matters of BBS match with the CA course. Thus, most of the subject matters of BBS are covered while studying CA course. The subject matters, which remain uncovered during CA study, are taught during result waiting period of CA course or some other comfortable time. Hence, studying BBS along with CA is not difficult but rather very supportive of each other.

 

  1. Are Unit Tests/Weekly Tests/Internal Examinations conducted regularly for evaluation of students?

For the evaluation of student’s performance periodically, PRIME CA examination committee conducts Unit Test/Weekly Test/Internal Examinations/Scholarship Tests and provides constructive feedback along with the evaluated answer sheets.

 

  1. Is there a facility of studying all levels of CA courses at PRIME?

Yes, PRIME CA is the only institute in Nepal providing exam preparation classes for all levels of Chartered Accountancy since its inception.

 

  1. Is there a facility of regular physical classes along with recorded video backup?

Yes, students can get the facility of regular physical(or online) classes along with Recorded Video Backup as additional benefit.

 

  1. How many shifts are available at PRIME CA?

For CAP-I, there are two shifts:

Morning shift: 6:15am – 11:00 am in the Summer and

6:30am – 11:15 am in the Winter.

Day shift: 11:30 am – 4:15pm in both the seasons.

 

For CAP-II: 6:15am – 2:00 pm in the Summer and

6:30am – 2:15 pm in the Winter

 

For CAP-III: 6:00am – 8:00 am in both seasons.

Normally, the classes are conducted as per the time mentioned above however, the timings may change as per the requirement with prior notice.

 

  1. Are study materials provided by PRIME CA?

Yes, The PRIME CA publication committee has developed range of study materials for all the papers to make students more comfortable in their study. In addition to that, necessary books are also provided from the market. At PRIME students never have to feel the lack of materials for their exam preparation. All study materials, notes and books are provided after admission without any additional charges.

 

  1. It is said that CA course is very difficult. Is it so?

It is not as difficult as rumored in the market. It is a challenging course for sure because of the big volume of syllabus that has to be covered but in terms of understanding, it is a very logical course. Hence, anyone who is interested and ready to put the right amount of effort can crack this course. It is challenging and thus rewarding too.

 

  1. Is there a scholarship scheme in PRIME CA?

Yes, there are various categories of scholarships awarded to the students on merit basis, performance basis and need basis. They are:

  1. Entry level reward/scholarship
  2. Internal Examination Reward
  3. Final Exam Reward
  4. Need based scholarship

For further details of scholarship schemes, please visit www.primeca.edu.np.

 

  1. Why to join Prime CA?

Prime CA may be an appropriate destination for CA aspirants due to the virtue of:

– Continued excellent results.

– Experience team of faculties with good track records.

– Sufficient study notes including past year questions.

– Extra classes as per the need.

– Library with study room.

– CA with BBS, BBM, BCA & MBS facilities.

– Scholarship test on real examination setting.

– Professionalism for quality and excellence.

– Recorded video classes as additional benefits.

– Most preferred by students.

– 700+ students have become CA.

– Has a distinct leading identity in CA education.

– Only institute in Nepal providing CA classes for all levels since its inception.

 

  1. When was PRIME CA established?

PRIME CA was established in 2004. This is the first and only institute in Nepal providing exam preparation classes for all levels of Chartered Accountancy course since its inception.

For further information, please call/Viber/WhatsApp/Telegram @ 9851013471 or visit the office.