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Commerce opens up many career avenues. Globalization, foreign insurance and foreign banks has created enormous job opportunities for commerce students. Chartered Accountant (CA) is still a coveted career. On successful completion of B Com, students get jobs relating business and finance. Professionals can apply for employment in finance sector like banking, company secretary ship, chartered accountancy, Cost and works accountancy jobs, etc. Commerce students get jobs in non-finance sector in the fields like mass communication, law, hotel management, etc. Page on b.com degree also serves as the stepping stone for MBA (finance). Commerce students can take a route of teaching after graduation and post graduation. Commerce students find career opportunities even in public services viz. Civil Services, Indian Economic Service, Indian Statistical Services, etc. Commerce graduates have a very exciting career option such as e-commerce. This career is well-suited to commerce students because of their sound understanding of business transactions.TopRemunerationIt mainly depends on academic qualifications, training, experience, location, responsibility and employer. Private sector especially foreign companies provide attractive pay packages. The salaries in this sector ranges from Rs.10,000-1,50,0000 per month. Professional like MBAs, CAs and CFAs get high pay packages.Foreign banks and insurance companies give good packages.TopEligibilityGraduation and post-graduation is desirable for the higher posts. It mainly based on the type of career to be pursued. The certications and liscencing from professional bodies is required for CA, CS, CFA, etc. MBA (finance) is also preferred in many foreign banks.TopEmployabilty SkillsGenuine interest in working with numbers and better computing skills.Ability for analyzing numerical data.Good communication skill.Ability to work with team and lead the team.Ability to take smart decisions.Organizational and administrative abilities.Logical thinking.Accuracy and neatness.Creativity and high intellectual capability.Ability to work hard and readiness to work for long hours.Flexibility and willingness to learn new things, technologies and adaptation of new methodologies at work.TopCareer testIf you record “Yes” for maximum questions then it indicates that you have potential for perusing career in the field of Commerce.Do I like to play with numbers?Do I have better computing skills?Do I have ability for analysing numerical data?Do I have analytical skills?Do I have practical business sense?Do I have good decision making power?Do I have good knowledge of economics and investments?Do I have sound knowledge of management and general marketing?Do I give utmost imporant to precision and accuracy at work?Do I enjoy office environment?Do I like to work for several hours (8-12hrs or more) per day in an office?Do I have ability to work with a team?Do I have computing and interpreting skills?Do I have organizational and administrative skills?Do I read budgets, business news and economic reviews?Do I have computer skills?Am I ready to learn and adopt new methodologies?TopCareer opportunitiesHigher education: Page on b.com students can go for higher education (MBA, Page on m.com, MCA, Ph.D, ) or immedate jobs. There are some prestigious certification courses in Commerce viz. Chartered Accountancy (CA), Certified Financial Analyst (CFA), ICWA, CFP and Company Secretary Ship (CS).Banking: Career is chosen due to fair salaries, job security and high social acceptance. Many local/national/foreign banks provide good job opportunities.Investments: One can get job as equity research analyst, investment banker, mutual fund executive, capital market manager, asset manager, venture capitalist and real estate.Insurance: It is showing exponential growth due to liberalization policy in India. The public and private insurance companies in life and non-life insurance providing enormous career opportunities. It also offer jobs in actuary and risk management.Capital market: Liberalized Indian economy has opened up capital market for foreign investors along with domestic investors. The heavy flow of capital into the capital markets has generated many employment opportunities. .Management: Page on b.com and BBA courses provide good background for MBA course. MBA (Finance) requires sound back ground of commerce field.Accounting: Demand for skilled accountants has increased considerably in the domestic and international job market.KPO and BPO: Enormous opportunities for commerce students in this emerging field.Taxation: Many jobs related to taxation has been created in recent years.TopJob optionsAccountant/Costs and works accountantAuditorBook KeeperBusiness analyst/Market analystCFOControllerFinance managerInternet Marketing Executive (E-commerce)Stock brokerSelf-employment:Business firmStock brokerTrade consultantManagement consultantEntrepreneurCorporate lawyerFinancial analystsTax consultantsSome popular careers options in Commerce:Chartered Accountant (CA): He/She is specialized in accounting, auditing and taxation. CA serves as a corporate caretaker and occupies respectable position in corporate world. The demand of CA has increased. Salaries of C.A. depends upon academic qualification and experience. Average salaries 25,000-1,50,000 per month. Abroad, salaries may go up to Rs. 5,00000 per month. CA who does consultancy earns good money. Eligibility: Admission is open to 10 + 2 pass or equivalent examination. CA Program has three sections viz. Common Proficiency Test (CPT), Professional Competence Course (PCC or PCE) and Final examination. Institute: The Institute of Chartered Accountants of India (ICAI) is an examining and a licensing body.www.icai.org,Company Secretary (CS): He/She co-ordinates various departments, ensures compliance of company legislations and advises directors on statutory requirements of the company. Apart from this, CS also looks after finance, accounts, legal, personnel and administrative functions. CS is a well remunerated career option because of its multifaceted nature. Eligibility: The Institute of Company Secretaries of India (ICSI) offers a three-stage course to qualify as Company Secretary. Foundation course is of 8 months that can be joined after 10+2 exam. Institute: The Institute of Company Secretary of India conduct and regulate the course of Company Secretary.http://www.icsi.edu.Cost and Work Accountant (CWA): Certified CWAs maintain cost accounting records, do cost auditing for companies, certify import and export documents under the Exim Policy, serve as executor, administrator, receiver and valuer. CWA facilitates strategic decisions in respect of diverse economic activities of the organization.Eligibility: The ICWAI examinations are held in three stages: Foundation, Intermediate and Final. A candidate may appear for the Foundation examination after passing 10+2 examination. Graduates in any discipline are eligible for direct admission to Intermediate course. Candidates passed in final examination with a minimum work experience of three years are eligible to become members of ICWAI. Institute: Institute of Cost and Works Accountants of India (ICWAI) conducts and regulate course. Further details: www.icwai.orgChartered Financial Analyst : Chartered Financial Analysts (CFA®) utilize their skills in the core areas of financial and hedge fund research, portfolio management, investment consulting, investment banking, investment management, international finance and research. Career opportunities for CFAs with IT skills (trained in high-end packages like SAP, Oracle application and Baan) have increase manifold.CFA regarded as the key position by financial professionals. CFA gets good salary. Eligibility: To be a CFA, a graduate requires clearing three levels of examination. A minimum of three years of investment/financial experience is essential. Institutes: ICFAI conducts CFA programme in India. This course is offered through class room as well as distance learning packages. Further details: www.icfai.orgBanking: For a career in banking, one can start off by maintaining accounts. Now a day’s banking sector recruits MBA graduates, CAs and CFAs to enhance the efficiency of banks. Now banks are in the mutual funds, securitization business, credit cards, consumer loans, housing loans, etc this open up many career avenues.Eligibility: Public sector Banks recruit mainly graduates for Clerical and Probationary Officer posts on the basis of All India Level examination. Graduates with commerce/economics are desirable candidates but any one from any stream can enter into this service by qualifying the exams conducted by banks. Foreign Banks prefer take MBAs, CAs, CFAs, etc.Investments: One can job opportunity as equity research analyst, investment banker, mutual fund executive, capital market manager, financial planner/asset manager, venture capitalist and real estate.Insurance: Insurance field offers jobs in actuary, risk management manager, insurance surveyor, underwriter, etc. The key factor for success in this field is experience. In private sector, the salary is more attractive. In private sector generally management graduates are inducted in the areas of marketing and sales gets salary ranging from Rs 15,000 to Rs 50,000 per month. The Commissions are the most common form of compensation for insurance agents and the amount depends on the type and amount of insurance sold. Eligibility: To pursue a career one has to pass the entrance examination conducted by the Actuarial Society of India, Mumbai. Students who have passed 10 + 2 or equivalent exam are eligible. License is needed to work in this field which can be achieved through a training programme.TopEmployersCompanies.BanksFinancial institutions.Insurance companiesCommercial firmsBusiness houses.

Disclaimer: At the end of the day, ICAI is the boss.I am happy that finally there is a change and I have decided to stay happy by not thinking about possibilities beyond that, since at the end of the day …The change was long awaited and over due as well. It has been a decade since the last major change in syllabus. In a Profession like Chartered Accountants, this is like trying to file Returns for FY 2014–15 in FY 2017–18. On the contrary, Institute of Cost & Management Accountants of India (ICMAI) has already resolved to bring New syllabus, every four years. This is not just a resolution, but also very smoothly implemented plan, as ICMAI shifted from Syllabus 2008 to Syllabus 2012 and now Syllabus 2016, trying to keep its syllabus up to date with the trends.Before someone confuses New Syllabus with Devil’s curse, let me explain why changing syllabus is for the benefit of all, with no hardship involved.As I have explained in the past, New Syllabus will be applicable only to students who register for CPT, IPCC or Final after 30th June.For Students who have already registered or will have already registered by 30th June, for any particular level - New Syllabus will applicable to them for the next level.For existing IPCC students, Final will be under new syllabus, similarly for exisiting CPT students, Intermediate & Final will be under new syllabus. The syllabus is not dependent on your exam attempt but your course registration date.So please understand, there is no impact on the efforts that you have already made, books that you have bought or classes that you have joined.Changing course syllabus keeps the students up to date with the trends in the profession, which directly affects their employability. Else, companies would have to invest heavily in training of such Chartered Accountants and they might start considering alternatives.Besides, even ISCA subject has been dropped, IT subject has been streamlined. So if any of the above reasons doesn’t seem acceptable, atleast this would be.On one hand students cry for not getting well paid jobs, and then they also curse ICAI for making any change in the syllabus. “Chit bhi meri, patt bhi meri” (Heads is mine, tails too) will not work in your benefit. So, it is highly important to keep changing the Syllabus as per trends.For beginners, refer New Syllabus[1] & Old Syllabus[2][3] through footnote links.CPC BECOMES FOUNDATIONMore Accounts, Nightmare for Science Stream Students - Good move.Earlier Accounts was for 60 marks, now 100 marks. The increase in marks is coupled with some IPCC topics like Average Due Date, Accounting from Incomplete Records & Financial Statements of Non Profit Organization being introduced at Foundation level. This further strengthens the base for Accounting and for students joining from Science stream, this could be a nightmare.No restriction on other medium students, but learn English before you join CA course - Highly appreciative move.This is what the second paper’s structure says, Law for 60 marks with 40 marks General English. Limited Liability Partnership Act & Introduction to Companies Act has been added to the Foundation level. General English covers Articles, Reports, Emails, Formal Letters, Grammar, Comprehension, Anonymns, Synonyms, etc. Basically, the 10th / 12th standard English subject, compressed into a zip file. Another good move. One reason why many CA students lacked good English skills because there was no restriction on which medium school or college you come from. There is still no restriction, but ICAI has closed that loophole by introducing English. So Non-English medium students will now have to learn English properly and in-depth, before entering CA course.More Mathematics to keep students out of CA course - Good moveMathematics & Statistics has been expanded into a full 100 marks subject rather than the 50 marks zip version. Now this subject is value for study, as earlier too many topics were for too less marks. There is also a 20 marks logical reasoning included. While Mathematics & Statistics may not be extensively useful in CA profession, the knowledge of the same ensures strong reasoning & logical thinking capacity, which is highly important while auditing. This subject will also ensure students do not pass CA foundation in bulk quantity as before, but a check on the same can be maintained.Improved Understanding of Business - Requesting practical questionsEconomics is same as before, with 10 additional marks and Business Cycles as additional topic. Business & Commercial Knowledge is a wonderful subject added, only if the questions are more practical. The best part of this subject syllabus is the following part - “Students are expected to read atleast one financial newspaper and one business magazine.” Wow! This line says a lot. So question paper may contain some practical questions about ongoing issues. If this is true, then it would be a really great move.No more MCQs in Accounting, Law & English. Negative marking for Economics, Statistics & Mathematics - Great moveAccounting, Law & English are some important subjects which test the writing skills of the students. While Mathematics, Statistics, Economics & Commercial Knowledge is merely objective. Usually all subjects are tested at the same standard, however, ICAI took the brave decision of distinguishing the standard of evaluation for different subjects at the same level. This will definitely improve the competitiveness of the Chartered Accountants. Negative marking is same as before. It keeps answering merely by guess i.e. randomness of answering under check.IPCC BECOMES INTERMEDIATEShifting of Accounting Topics - Nothing special hereSome topics of Accounting have been shifted to Foundation while some topics have been borrowed from Advanced Accounting. Good thing is including all Accounting Standards in Accounting & Advanced Accounting subjects leaving behind only advanced issues for Final level. This will help students during articleship.Inclusion of useful topics at early stage in Law - Good moveTopics like interpretation of statutes, drafting deeds & documents, etc. have been included at Intermediate level itself. Consumer laws & brief introductions to labour laws has also been included. This ensures that the student is not completely blank about interpretations & legal documents. With this knowledge student can further build on with the practical knowledge he/she obtains. Certainly, Intermediate level has been designed keeping Articleship in mind and this is certainly a change for good.Learn the entire Costing all at once - Eat with two spoons nowThere’s one extra subject at Intermediate level, as Costing and Financial Management have been split into two 100 marks paper. The earlier Costing syllabus was certainly not enough for 100 marks paper, so now entire Costing i.e. the Costing at IPCC and Costing at Final level, both have been accomodated in one subject. I am doubtful, how good this move would be. Students have faced difficulties in Costing even at Final level because of multiple methods that can be used. Introducing such difficulty at Intermediate level is a big burden on students. All of this to insert one additional subject at Final level. Keep reading.Tax Subject is same as before. - Too much for too less.I still feel and this is with respect to all three ICAI, ICSI and ICMAI - either select certain chapters of tax laws or make them two different subjects. This is too much to read for so less marks, especially Direct Taxes which is a vast subject. Since ICAI’s motive is to accomodate more & more subjects in the syllabus, this is a move that they have made. As we know, at the end of the day …Advanced Accounting looks like dead end of Accounting - Not sureICAI has included Guidance notes in Advanced Accounting. There are only 5 other topics in Advanced Accounting which means each Guidance Note will now be tested in much deeper sense. In my opinion, it is too early to introduce Guidance notes. The syllabus of Foundation or Group 1 Accounts could have been spread over and shared with Group II Accounts, but ICAI seems to have decided something. I am adding an attention flag, it doesn’t seem appropriate.Audit subject seems quite improved in content - Very Good Move.The Auditing subject under the old course was too simple & pointless. Now the subject has been divided into topics as we have in Audit Plans. This is a significant improvement from the old syllabus as now it seems to include more practical subjects. We will only know how much they have improved the subject when the books are published, but as of now, looking at the topics, it looks convincing.Business Economics seems repetitive - Not so good moveFinancial Management is same as before, and now it feels like the only subject which is true value for marks. There is no cramming of topics in this subject and 60 marks is appropriate. However, the balance 40 marks Business Economics is like History of Finance & India Economy, which is good stuff, but these topics are already covered in Class 11th & 12th. Students already get the basic knowledge of Economics before CA course, so Business Economics seems repetitive. Again this would be a purely theoretical subject from the syllabus, a big question mark here.IT subject streamlined, SM same as before - That’s awesome!In original draft syllabus, ICAI had kept Information Technology subject in tact, but they have now streamlined the subject. As you can see the name is now “Business Information Systems”, thus, certain topics from ISCA will be introduced in IT subject. Only topics which are really very relevant have been retained. Strategic Management has been kept in tact. I wish there are more Case Laws in both IT and SM, it would have made subject more relevant. In CMA course, there are case laws from industry mentioned in Study Material, for students to understand concepts practically which are not asked in exams. I hope ICAI either now or later introduces such case laws.FINAL STAYS FINALFinancial Reporting has fewer topics, means more difficult- Not sureThe syllabus of Financial Reporting stays same except for exclusion of certain topics and shifting them to Intermediate level. Now although looking at syllabus, a student may think of it as a scoring subject, I feel the Financial Reporting subject will get more tougher because the topics which have been eliminated were the easier ones. This seems like a Lion’s den to me. Accident prone zone. Guidance Notes are going to bring in tough questions.Financial Management now looks interesting - Very Good moveThe old syllabus didn’t cover valuation in depth. Now there is an entirely new chapter on valuations. Besides, introduction of Islamic Finance is a great move. It would be an interesting topic to read, not sure about exam questions, as they would probably be theoretical. Interest rate risk management has been added considering the need of hour. The syllabus seems better, but I expect inclusion of Practical case studies like ICMAI modules which helps in understanding the practical aspects which students cannot learn in articleship.Advanced Auditing subject seems same - Requesting Case StudiesAdvanced Auditing subject has only been consolidated in a better manner. The subject under old syllabus lacked case studies and I feel the same would happen in new course as well. The way we learn Auditing and the way we apply in real world is different and this gap can only be filled in by Case Studies. Dear ICAI, Auditing is our key subject. Please include Case Studies here, make it more difficult but more practical so that it guides in real life situations as well.Allied Laws is like ‘Yeh bhi padhlo, woh bhi padhlo’ - Worst moveEither increase the weightage of Allied Laws or reduce the number of laws. ICAI did neither of them, but only included more laws without improving the weightage. This subject looks so crammed up. It was already so crammed up, and now they further added more laws to it. Now there are 17 Laws for 30 marks! I won’t say a word further about this, since you know, at the end of the day …Strategic Cost Management & Performance Evaluation, Copy cats! This war between ICMAI & ICAI is getting hotter - Great moveThis is an open war with ICMAI. In Cost & Management Accountant course, you have exactly the same subject at Final level with same name and same topics. This subject is certainly introduced to keep competition with ICMAI in check. This is great subject, in my opinion. It was the biggest difference between CA and CMA course which has now been eliminated. This subject might be partially practical and partially theory. Quantitative techniques have been reduced to four topics which is a good move. I wonder, would ICAI and ICMAI merge in future? They are eating each other’s scope, crossing the lines & raiding territories. When will this war come to an end!ISCA teachers go Jobless; Faith in ICAI restored - Legendary move!In draft curriculum, ISCA was retained with some relevant topics only. However, in Final Draft, they have removed the entire subject and introduced concept of ‘Elective Paper’. This is an absolutely welcome move. The choices in elective paper are nice. In future we may have more elective papers being introduced as per need. Now ISCA is covered in Advanced ICITSS course where ISCA would be an Online / OMR exam with multiple choice questions. ISCA wasn’t entirely relevant, hence they move the important topics to IT subject in Intermediate and some parts to the ICITSS course where I believe it won’t be too difficult. Now we will have Chartered Accountants with one specialization area. This is the future we were talking about. Hatsoff to ICAI, people in committee who stood for this suggestion.Direct Taxes is now more Comprehensive - Good moveThere is now a separate section for International Taxation which is actually very important. The 70 marks syllabus for Direct Taxes is same as before, however, I expect now questions would be more advanced and related to Assessment procedures as the Basic part has been covered in Intermediate level. Direct Taxes subject will require more practical knowledge, case laws would become important. Simple calculation questions won’t be asked.GST is the New Subject - Not ICAI, it’s Ex-FM Jaitley’s good move!The credit for this subject cannot be given to ICAI. It truly belongs to Arun Jaitley’s thoughtfulness and approach. GST is going to be effective soon and the new syllabus will include GST. There is nothing to worry about, as one GST law for 70 marks means many simple questions will also be asked. I am pretty sure, the first few attempts will see, many simple papers. Subject will be easier to pass & score than the other subjects especially because the syllabus isn’t vast and nor difficult. The Law is new and therefore, there aren’t as many complications as in case of Excise. Further, very few case laws would be applicable for first few years, almost negligible.OTHER CHANGESISCA exists, but in a different manner - Good moveThere has been a lot of confusion over ISCA subject, but the above picture will guide you. ISCA is not a theoretical subject anymore, nor it is part of CA Final. It is now a part of AICITSS course as a MCQ pattern paper. This exam will be similar to the old ITT exams, however, with a significant change in the syllabus.You can switch to New Course at any time - As expectedAs mentioned in above FAQ 41, you are allowed to switch over to new course at any point of time if you wish to. Probably the option would exist in the Examination Form that you fill up.Pass any Group of Articleship - A move for benefit of students.You can pass any Group of Intermediate, complete ICITSS training and start Articleship i.e. even after passing Group II, you can start Articleship.Combining IT Training & GMCS - Good move.ITT, Orientation & GMCS have been combined to form ICITSS and Advanced ICITSS. The first one has to be done prior to Articleship, while the other one in last two years of articleship.Final exam 2.5 years rule retained same as before - Good decisionIn Draft rules, it was mentioned, final exams can be given only after completing entire 3 years training. However, ICAI has after re-thinking, restored the rule to same as before i.e. after 2.5 years you can give your final exams.Alert! Irrespective of your Registration, ITT/Orientation/GMCS will be under New ICITSS course only - owing to administrative reasonsEven if you are registered under old course and you have not completed your GMCS or Orientation & ITT course by 30th June, you will be required to pursue ICITSS course instead of existing courses.Conclusion: Almost all remarks are appreciative. See why I am happy. There is change and the change is good. This is something that everyone will accept. The only problem here is, we are human beings. We have a lot of expectations. Our expectations have no boundaries and therefore, the more we think, the more we will be discontent. I feel happy that atleast some appropriate changes have been done. There can be so many more changes that we could imagine, but the Expert committee does consist of Experts who would have considered everything. No point in pondering over what could have been done or what should have been done, since at the end of the day …Friends who feel there could have been more changes or better changes - Yes, maybe you are right. However, let’s first appreciate the changes that have come after waiting for a decade and stay happy with what’s happening, instead of bothering over something that is not happening or not going to happen atleast in next few years.Edit 1 : The answer has been updated to reflect changes between draft curriculum & final curriculum. Feel free to ask queries about New curriculum in comments. If queries are personal, visit my profile for contact details.Related queries[1] In the CA final paper 6, which subject will have better career options?[2] What is the most significant change in new curriculum of the CA course?[3] Who will be most adversely affected by the new curriculum of CA course?Footnotes[1] http://resource.cdn.icai.org/45557bos35643.pdf[2] http://resource.cdn.icai.org/45099bos35101cpc.pdf[3] http://resource.cdn.icai.org/45100bos35101ipc.rar

In Canada, there are three major national accountancy bodies - the Canadian Institute of Chartered Accountants (CICA), Certified General Accountant Association (CGA) - Canada and Certified Management Accountant (CMA) - Canada.CICA deals with the structure of the Chartered Accountancy profession in Canada. The Designation as Canadian CA enables an individual to practice public accounting in Canada.Certified General Accountants (CGAs) are professional accountants who have acquired their accounting education through and are members of the Certified General Accountants Association.Certified Management Accountants (CMAs) are strategic financial management professionals who combine accounting expertise and business acumen with professional management skills to provide leadership, innovation and an integrating perspective to organizational decision-making.You can get more information in respect of these institutes viz., CICA, CGA - Canada and CMA Canada can be found on their respective websites at CPA Canada; CPA Canada and CPA Canada.In order to practice public accounting in Canada, the membership of CICA to become a Canadian CA is required, for which the following would be pertinent :-S No. Criteria Requirement(s) for ICAI Members1. Body granting the admission for pursuing Canadian CA Each of the Canada's ten provincial and two territorial Institutes of Chartered Accountants and the Institute of Chartered Accountants of Bermuda (collectively referred to as PICAs/Ordre) is responsible, under uniform general requirements, for the admission of members and students, and for ensuring that students obtain the required pre-qualification and professional education.Membership in CICA is derived automatically from the membership in one of the PICAs/Ordre.2. Broad Requirements for becoming Canadian CAapply for a student membership in one of a PICAs/Ordre;complete the respective PICA's/Ordre's post university degree professional education program;complete the CA profession's term of required experience;satisfy the CA profession's course requirements in Canadian Law;write and pass the CA profession's Uniform Final Examination (UFE);provide character references.3. Requirement(s) for admission as a student to PICAs/Ordre One of the requirement for admission to one of the PICAs/Ordre is the possession of a university undergraduate degree. In case, the university degree is not in Commerce/Business related, the appropriate bridging courses or their equivalent must be taken up as being run by the Provincial Institute or its educational affiliate.ICAI Members need to apply for student membership in a PICA/Ordre. These Institutes evaluate the standing of individual applicants within their respective programs. Foreign trained accountants may be eligible to register with the provincial Institute of their intended province of residence, with their category of registration depending on to which foreign accounting body they belong.4. Other Requirements as a student of PICAs/Ordrea) Professional program Once students complete the required courses at the undergraduate level, they enter a professional program run by the respective PICA/Ordre or their educational affiliateb)Pre-qualification experience Pre-qualification experience required to become a CA consists of 30 months experience (24 months in Quebec) in a public practice firm that is approved, by the respective PICA/Ordre, to train students.ICAI members may be given some credit for comparable experience obtained in India which would be subject to a determination by the respective PICAs/Ordre.5. Examination Requirementsa) Type of exam All prospective Canadian CAs are required to pass the CA profession's Uniform Final Examination (UFE). Candidates must complete all of their course/educational requirements in order to be eligible to sit in the UFE. However, the candidates need not have completed their required experience before sitting in the UFE.b) Body conducting the examination The UFE is developed and marked by the CICA on behalf of the PICAs/Ordre of Chartered Accountants. The PICAs/Ordre administer the writing of the examination under uniform administrative rules.6. Body granting the license to practice Some provinces have no restrictions on who can practice public accounting (unregulated jurisdictions), some provinces limit by statute the right to practice to members of a certain accounting body or bodies and some provinces have bodies that licence people to practice.7. VISA Requirements Applicable immigration requirements apply. There are no special visa restrictions specific to Indian chartered accountants. A medical examination is normally required for visits of over 6 months.Indian professionals who obtain work permits would still need to satisfy the applicable licensing or certification requirements of the appropriate professional regulatory bodies in Canada's provinces or territories. Indian chartered accountants seeking to enter and stay temporarily in Canada in the "professional" category under Canada's Immigration Act and Regulations would need a labour market opinion and a work permit. If, however, an Indian chartered accountant qualified as a "business visitor", a labour market opinion and a work permit would not be required. If an Indian chartered accountant qualified in the intra-company transferee category (i.e., as an executive, manager, or specialist), only a work-permit would be necessary.For more information on the temporary and permanent residency and on the application procedures and processing times, please consult the website of the Canadian High Commission in New Delhi at http://www.dfait-maeci.ge.ca/new-delhi/visasen.asp.8. Form of organisation permitted for practice The permitted form of practice varies from province to province since it is dependent upon provincial legislation and PICA/Ordre bylaws. All provinces permit CAs to practice in sole proprietorships or in partnership of CAs. Some provinces now allow CAs to form limited liability partnerships (LLPs). Currently, legislation permitting LLPs s in force in Alberta, Ontario and Saskatchewan.9. Local partnership requirements Many PICAs/Ordre have rules with respect to the operation of practicing offices in the province.10. Measures on Code of Professional conduct/ CPE programs The PICAs/Ordre deal with ethics and discipline of members through the development and enforcement of Code of Professional Conduct. The PICAs/Ordre harmonize their Codes of Professional Conduct to the extent possible. These Institutes also develop and administer CPE programs for their members.11. Body setting accounting and assurance standards The CICA sets accounting and assurance standards, which all CAs are required to adhere to by their provincial PICA's/Ordre's code of professional conduct.In order to obtain the membership of CGA - Canada, the following would be pertinent:-S. No. Criteria Requirement(s) for ICAI Members1. Who are CGAs CGAs are professional accountants working in industry, commerce, finance, government and public practice. They are represented nationally through CGA-Canada and regionally through their provincial/territorial/regional associations and local chapters.2. Body granting the admission for CGA The Certified General Accountants Association of Canada is a national self-regulating association of 55,000 Certified General Accountants and students. CGAs work in Canada and elsewhere throughout the world; students are enrolled in the CGA program of professional studies in Canada, Bermuda, the Caribbean, Hong Kong and the People's Republic of China.3. How to apply for CGA Canada For those residing in Canada, they may enroll in the CGA Program via the provincial affiliates and each application is subject to affiliate policies at the time of application. One is also required to be either a landed immigrant or citizen or possess a valid student visa. For those enrolling by distance, one must reside in the jurisdiction of one of the provincial affiliates or international examination centres. For more details, please visit http://www.cga-canada.org/eng/regional.htm4. Advanced Standing Status to ICAI Members The Certified General Accountants Association of Canada (CGA) has given advanced standing status to ICAI members. Now, the ICAI members will have to appear effectively in only five papers to pass the CGA examinations of Canada as against the sixteen papers earlier. The announcement has come from CGA Canada after a process of evaluation of ICAI qualification was over at their level.The following CGA courses will receive advanced standing status, unless otherwise indicated, based on ICAI designation and a university degree. Admission requirements are the sole jurisdiction of CGA Affiliate:-CGA Program of Professional StudiesLevel 1Financial Accounting 1 (FA1)Law 1 (LW1)*Economics 1(EMI)Level 2Financial Accounting 2 (FA2)with Practice Set 1(PSI)Quantitative Methods 1(QU1)Management Accounting 1 (MA1)Communication 1 (CM1)**Level 3Financial Accounting 3 (FA3)with Practice Set 2(PS2)Finance 1(FN1)Management Information Systems 1(MS1)Level 4Management Accounting 2(MA2) challenge exam privilegeIt appears that approximately 65-75% of the CGA MA2 course is covered by the ICAI program,therefore, a challenge exam privilege is required. Accounting Theory (AT1) required,no transfer credit.Less than 40% of the AT1 topics are identified as being covered. The CICA handbook and CGAethical standards are not covered.Auditing 1(AU1)***Taxation 1(TX1) requiredCanadian content is necessaryProfessional LevelFinancial Accounting 4(FA4) challenge exam privilegeCGA FA4 is a mandatory requirement that all students must complete in order to qualify for CGA membership.University degree requirementis satisfied.Notes:*LW1 may receive a transfer credit provided substantially equivalent law studies are completed at ICAI and/or university.** CM1 may receive a transfer credit, provided studies were completed in English at university and ICAI.***AU1 will receive a transfer credit provided the ICAI designation was completed within 5 years. If AU1 is exempt, CGA AU2 will be a mandatory course in the professional level. The audit practice set (PS3) is mandatory.In order to obtain the membership of Certified Management Accountant (CMA) - Canada, the following would be pertinent:-Certified Management Accountants are strategic financial management professionals who have gained the knowledge and skills necessary to provide leadership, innovation and an integrating perspective to organizational decision-making in the global marketplace. To earn the CMA designation, prospective members must:Complete a University DegreePass the Entrance ExaminationComplete a two-year Strategic Leadership Program while gaining Practical Experience in a management accounting environment.More details on the above requirements can be found at the website of CMA-Canada at CPA Canada.