Chartered Accountancy has been a popular subject among Nepali students and there are multiple colleges that offer preparation and tuition classes for the programme. This week, The Corporate’s Pradip Adhikari spoke to Paramananda Adhikari, Technical Director, ICAN (Institute of Chartered Accountants of Nepal), to find answers to some frequently asked questions. Excerpts:

What kind of course is Chartered Accountancy?
Chartered Accountancy (CA) is a professional course. Lately students’ attraction towards CA has been increasing. The CA profession is now as respected as the Doctor and Engineer profession in national and international markets.

What are the criteria to study the subject?
CA is studied in three phases: CAP 1, CAP 2 and CAP 3. CAP 1 is the first phase. Plus two graduates can get admission to the CAP 1 phase and students who have passed CAP 1 are eligible for CAP 2. Similarly, undergraduate and graduate students who have secured above 50 per cent can also get admission in CAP 2. CAP 3 can be studied only after passing CAP 2.

What would you like to suggest to the students willing to study CA?
CA is a subject to study with hard-work and self-confidence. The course is not that difficult but one should be determined enough to study it. CA shouldn’t be taken lightly. The income of a Chartered Accountant is higher compared to that of other occupations. As Nepal is a developing country, there are lots of opportunities in this field and its scope is high in the international market too.

How much does it cost to study CA?
The course costs Rs 90 thousand for all 3 levels combined. Besides that, there are fees for coaching classes. Coaching classes are run by institutes affiliated to ICAN. Every institute charges differently. It is up to students to choose what is best for them. CA is a course where one can earn while studying too. Thus, the investment can be recovered while studying.

What is the difference between the Chartered Accountancy (CA) courses available in Nepal and those available in other countries?
The CA courses are similar around the world. There is no difference between those offered in Nepal, USA, South Africa or any other nation. As India has a big market and a similar culture to Nepal, Nepali students are attracted to studying CA in India.  It is believed that degrees from Indian Universities are acclaimed. However, this is not true. Students who have got a degree from India have to give an exam in Nepal as well. In my point of view, since students have to return back to their own country after completing their studies, there is no difference between getting a degree from India or from Nepal.

How has ICAN been helping students of CA in Nepal?
We have been helping students at various levels. We provide them counseling, revision tests, library facility, crash courses and so on. We also provide 50 per cent scholarship to the needy and meritorious students. ICAN provides scholarship to about 30 students each year. Around 140 students have received scholarships from ICAN till date. We have been sending students to various countries through students exchange programmes as well.

What kinds of courses are accommodated in a CA programme?
We have attempted to accommodate courses that are directly or indirectly related with the CA profession. Mostly, accounting, auditing, corporate law and taxation are included in the course. Some courses that have direct relation with CA profession such as information technology and business management are also incorporated.   

What is the examination procedure in a CA course?
CA has the most simple examination system. The examination is conducted twice a year in December and June. Cap 1 has three major subjects that need to be passed in a single attempt. Cap2 has two major subjects and that can be passed within two attempts. Students must score 50 per cent marks in an average. However, the pass mark is 40. If a student scores 40, 50 and 60 in the first, second and the third subjects, respectively, the student will have passed the examination.