CA Subjects Lists , Eligibility criteria & Career Opportunities in Pakistan

Chartered accountants are one of the most needed human resources. Every field of business needs them to handle accounts and Finance. As today it is easier to do freelance work. Thus many chartered accountants are working in that domain too. Every state has a board to declare eligible students as certified chartered accounts. This board is called as Institute of chartered accounting in Pakistan. It is a professional accountancy body to regulate the exams and to keep the curriculum in check. Any student who fails to pass the examinations set for the C.A. aspirants would b declared fail by the board.

C.A. is a tough degree, which is quite evident from its courses. However, a certified C.A. would never be disappointed, as his career would be far bright than the rest of the competitors. To complete the C.A., students are supposed to clear four theoretical parts. After that, they would be asked for a 3-year training to qualify for the C.A. degree.

Eligibility criteria for C.A.

The eligibility criteria for C.A. are quite simple, as they allow even the premedical students to join the C.A. degree. However, there are two ways one can get a C.A. degree. It has a full-time scheme and a trainee scheme.

The first way is to get into it right after the intermediate if you have completed your 12 years of education, be it the Fsc premedical, pre-engineering, ICS, I.COM, F.A., or A levels. Once you have cleared 12^th, you can enroll for the C.A. degree.
The second way, which is termed as the trainee scheme, is for those who have completed higher studies and now want to do C.A. It is indeed a golden chance for those who realize the importance of C.A. after doing Masters. Those who have done masters, ACCA, CIMA, ICMAP are eligible for this scheme.

There is a slight difference in both these schemes; students are bound to complete the four parts before the training in the full-time scheme. While the trainee scheme, students will do the training first, and then go for the four parts of C.A.

Subjects of C.A. in Pakistan.

The CA in Pakistan is divided into four parts; the total number of courses in these four parts is 21. The following are the name for each part.

AFC (Assessment of fundamental competencies)
Certificate in Accounting and Finance
Certified Finance and accounting professional
Multi-subject Assessment

Subjects in AFC

Functional English.

It is to gauge the writing, reading, and speaking skills of the English language and grammar. It is necessary as English would be the medium of learning and communication in the field too.

Business communication.

Business communication is a bit tough, as, for many students, it will be a new thing. Students will learn about report writing, draft writing, resume writing, and other formal business communication methods.

Quantitative method

As CA is more related to research, the learners must understand the quantitative research method. It is more like learning statistical methods for finding an answer.

Introduction to information technology.

As nothing can run without information technology today, so it is necessary to make learners understand the innovations in I.T. This course is also a fundamental one for the basic understanding of I.T.

Subjects of Certificate in Accounting and Finance.

Introduction to accounting.

As the name implies, it is also a basic level course; those who have done I.COM or ICS with statistics can easily pass through this course.

Introduction to Economics and Finance.

This is also a simple course; however, without a basic understanding of the economy and Finance, students might take it as a difficult course. It is to prepare the base.

Business law.

It is an interesting subject; Pakistani students will find it a more relevant subject to Pakistan studies. Students will learn about the ordinances and powers of financial institutions and the government’s laws for business in Pakistan.

Business management and behavioral studies.

This is all about management. Students will learn about the theory and strategies to manage an office and human resources when they would become the head of Finance and other departments after clearing the C.A. degree. It is more like social science, and a keen learner can easily pass through it.

Financial accounting and reporting (I-II)

Financial accounting and reporting I and II are relatively complex courses. The student will get to polish their reporting skills while maneuvering the financial terms and methodologies.

Principles of Taxation

As CA are supposed to manage the accounts and taxes, they must understand the principles of taxation, which are accepted universally and are a capitalistic economy.

Cost and management accounting

The course and management accounting are again technical courses, an off-shoot of the base forming courses.

Audit and assurance

Audit officers are often Chartered accountants; without understanding the auditing and assurance theory, there is no way a CA would be a reliable officer.

Certified finance and accounting professionals

Corporate Law

Corporate Law is the same as business law but slightly different as it is a specific course. It will be a fun course as students will get to explore and research more.

Advance accounting and financial reporting

After clearing the accounting and financial reporting parts 1 and 2, the advanced accounting and financial reporting is the final stage. It would be a tough exam, and many students are likely to give in.

Business management and strategies

This one is for those who are aspiring to handle the entire enterprise. It is more related to behavioral sciences and the market forces.

Business finance decisions

The last course and this one are quite the same, and without understanding, either of this one can never clear the other. These two are to reinforce each other.

Advance taxation

It is a complex subject with intricate taxation details. However, with hard work, you can also clarify it.

Audit assurance and related services

The audit assurance and related services are the courses that would add value to the degree. These services are expected from a C.A., so you can never be a competent candidate without taking this course.

Multi-subject assessment.

Financial reporting professional competence

This is also the decisive course; the students should show all they have learned throughout the four parts. They would practice understanding financial reports too, and it is a hard one.

Audit professional competence

As the name implies, here also they would increase the auditing competence of the learners. They would teach them the professional ways for auditing different companies and enterprises.

Career path after C.A.

If you plan to go for C.A., then be ready to have several options as your career line. There is no limit to it, as you would be a certified expert in Finance and accounting, which is the most important department of every business. The following are the most promising career pathways after C.A.

Taxation advisory and consultancy
Cost accountant
Actuary professional
Forensic auditing
Managing treasury
Tax auditing
Internal auditing
Businessman
Investment banker
Insurance manager
Finance manager

FAQS:

Can I do C.A. after ACCA in Pakistan?

Yes, you can opt for C.A. after ACCA. However, you will not follow the regular C.A. pattern. , those who have done ACCA need to follow the trainee scheme for C.A., The trainee scheme is different from the regular full-time scheme. In this, you would go for training first.

Starting salary of a C.A. in Pakistan.

Chartered accountants are quite important for the system; thus, their salaries are not like the ordinary MBA. The minimum starting salary of a C.A. in Pakistan is 80,000 pkr; with time and experience, it would increase and reach even 30 lacs.

Final words

C.A. can be the game-changer for many of you; however, clearing C.A. is not a piece of cake. To crack this hard nut, you need to work hard and practice as much as you can. It requires both devotion and hard work. Otherwise, one can never succeed in it.