Let’s explore why this examination is difficult through Rajan Kabra’s journey. He got 516 scores out of 600 and became the topper of the chartered accountant final examination.
The Institute of Chartered Accountants of India (ICAI) announced the results of all three levels of chartered accountancy, such as foundation, intermediate, and final, on the 6th of July. And in the final examination, which is amongst the toughest of all the three exams, 14247 students passed. And become a qualified chartered accountant.
Rajan Kabra- CA Topper
In this examination, Rajan Kabra got an 86% score in the India ranking, and in the second position, Nishtha Bothra from Kolkata got an 83.83% score, and in the third position, Manav Rakesh from Mumbai got an 82.17% score.
When we saw the previous year’s score, the topper was Shivan Mishra in the final examination, who scored 83.33%. And when we see the Nov 2023 topper then, the name is Madhur Jain, who scored 77.38%.
The marks that toppers get make this statement true: To become a chartered accountant is like to crack the toughest examinations. There are numerous reasons behind this. Now, let’s understand why this examination is so tough and how to become a chartered accountant.
Who is CA?
Chartered accountants are financial advisors that will help you in making economic decisions. They will guide you, where you have to spend money and where you lose your money. And they also guide you in tax saving. Apart from this, they also help in making your business profitable and provide advice for banking.
Chartered accountants are experts in finance, tax, audit, accounting, and management consultancy. Their major roles are to manage business accounting, make a plan for taxation and GST, make a return file, statutory and internal and do tax audits. And also make financial statements and reports. And also provide financial, legal, and managerial advice to companies.
After passing the 12th examination, any student can take the CA examination. It doesn’t matter if they are from Science, Commerce, or Arts Stream. Anyone can give, and there is no age limit for this examination.
The CA of Chartered Accountants firm Maheshwari Aggarwal and Associates Divya Prakash said: “There is no foundation for Science and Arts stream students. ICAI permits every student. But it has become easy for commerce students because they already know Maths and Accounts.”
Throughout the year, for all three levels of CA, three examinations are conducted. Earlier, two times of CA final examinations were performed, but this year, in March 2025 ICAI announced that three times of CA final examinations will be conducted. And now, it will be held in January, May, and September.
How to become a Chartered Accountant?
First, let’s understand its structure: The Institute of Chartered Accountants of India (ICAI) conducted a CA examination that contains three main levels.
- Foundation course: Earlier, this exam was called CPT, which means the Com Proficiency Test. Students can register after the 12th in this test. In this test, students have to prepare for accounting, maths/statistics, law, and economics. And after passing this test, they will move to the next level.
- Intermediate course: After completing the foundation course, students have to take this level. However, students who scored 55% in B.com or 60% in non-commerce graduation can take this test directly.
It has two groups:
- First group: Accounts, law, costing, and tax.
- Second group: Advanced accounting, auditing, enterprise information system and strategic management, financial management and economics.
- Articleship: After passing one of the group of intermediary levels then, students get training for 3 years under practicing CA. It is called articles. However, there is no test for this.
- Final course: In the last 6 months of the articles or after completing it, students can take the final examination. It also contains two groups. It has the same subjects but at an advanced level, i.e., financial reporting, strategic financial management, direct tax, indirect tax, audit, law, and strategic cost management.
Divya Prakash said that in all the papers, every student must get 40% scores on each paper and in total, in all the subjects, the scores must be 50%.
He explained:” Let’s have four papers in group 1; in each of the documents, 40% must be obtained, and the overall marks in all four papers must be obtained 50%.”
But when any student fails in any of the papers, then what happens?
Divya Prakash said: If in any group the aggregate doesn’t make 50% or in any paper the score is less than 40%, then in that case, students have to give that level/group again. But if the aggregate doesn’t meet in every subject student got a 40% score, then an exemption system occurs.
He said that if in any paper, students got 60% or more than 60%, then they are exempt for the next three attempts. So, students have to give other documents to clear their group except the one in which they are exempt.
But it is not like that; if someone did not succeed in any paper of the final examination, then they did not start this course from the foundation.
Why is CA becoming difficult?
The one that makes the chartered accountant examination difficult is its low rate of success. Its entry point means only 15.09% of students pass the foundation course. On the other hand, the passing rate of Group One intermediate level is 14.67%, and for Group 2, it is 21.51%. So, the passing rate of both groups is 13.33%. Now, when we look at the final examination, then, the passing rate of Group 1 is 22.38%, and for Group 2, it is 26.43%, and in both groups, the passing rate is 18.75%.
Reason behind the success rate of fewer students?
Deepa Bansal, the Head of finance and accounts at Dayal Fertilisers Pvt. Ltd said:” The biggest problem is that the exam is based on practical scenarios. It doesn’t matter how many books you read; the presence of mind is needed. Second, you have to study multiple areas, and the circle of them is very large.”
She said that if you learn about income tax or GST, then they both are very big areas, and it is not easy to cover them both.
According to CA Deepa Bansal, “You also have to see accounting, you also have to see law, you also have to see costing and finance. You can become a chartered accountant by studying them. A student must have to study these subjects in-depth. Less time for study, so because of this, all the subjects were not covered properly.”
She said,” In law, most of the questions are practical based, in which students are examined how they make decisions in various situations. For this, practical training is a must. For a student it is difficult for them to do theory and practical training hand-in-hand. So, time management is a challenge for them.”
“Second, there is no other way to pass this examination. It is not like you attain any score and succeed in it. You have a criteria for this examination. It is necessary that you have to get a 40% score in every subject and 50% overall to pass the examination. If you get 39 on any paper and the overall score is 70%, you still did not pass out. You must pass in every area and clear every paper.”
Final Words
She said that without knowing any subject deeply, you did not become a chartered accountant. In your brain, you have a clear understanding of every subject. It is not possible to give the answer yes or no that becoming a CA is easy or difficult. Because it depends upon the capacity, the planning for preparation, and the mindset of every individual.
CBSE Master Classes has a team of highly experienced tutors. Though, Mr. Kabra has never been our student but we have shared this story only to motivate our students.