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1. What is ICAN?
ICAN is the abbreviated form of "The Institute of Chartered Accountants of Nepal".
It is an autonomous body established under Chartered Accountants Act, 1997, enacted by the parliament of Nepal to regulate and develop the accounting profession in Nepal.
2. What is ICAI?
ICAI is the abbreviated form of "The Institute of Chartered Accountants of India".
It is an autonomous body established under Chartered Accountants Act, 1949, enacted by the parliament of India to regulate and develop the accounting profession in India.
3. Who can study Chartered Accountancy?
Students who have cleared or appeared in final year of 10+2 or Intermediate level in any stream can study Chartered Accountancy starting from CA Foundation/ PE-I.
However, students who have already passed Bachelors' level with prescribed percentage may directly join CA Intermediate/ PE-II level.
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4. Can students join Chartered Accountancy before final results of 10+2/Bachelor?
Yes, the students waiting for results can also join Chartered Accountancy.
They can be registered provisionally. They must submit the proof of passing to the Board (ICAN or ICAI) within 6 months of registration. Provisional registration for CA Foundation & Intermediate and PE I & PE II is available under ICAN and ICAI respectively.
5. Is there any provision of transfer between ICAN and ICAI during studies?
No, so far there are no agreements for interchange between ICAN and ICAI.
6. Is CA course really tough as we have heard?
It is not as tough as we have heard.
However it requires dedication, regular and in depth study and proper guidance.
7. Is CA course as costly as we have heard? Is donation required for admission?
No. There is no donation requirement at all.
It approximately costs Rs. 48,650.00 if starts from foundation and Rs. 9,200.00 if starts from Intermediate.
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8. Where are the examinations held?
Examination under ICAN are held in Kathmandu, at the venue as directed by ICAN.
The students of ICAI need not go to India.
Their examinations are held in Kendriya Vidhyalaya, Indian Embassy, Lazimpat, Kathmandu.
9. Is there any restriction in number of attempts?
Yes, Under ICAN, students should complete CA Foundation and Intermediate within 5 years of registration for the concerned level.
Whereas under ICAI, for PE-I and PE-II students can appear up to 5 consecutive attempts.
For CA Final level there is no restriction in number of attempts both under ICAN and ICAI.
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10. Is it possible to do CA along with Graduation?
Yes, of course! Students can do other bachelor programs like BBS, BBA, etc. There is overlapping of course to some extent.
11. Is there any scope for those who are unable to complete CA for any reason?
Those who are unable to complete CA will still have better opportunities because of thorough theoretical knowledge along with rigorous practical training during article ship.
12. What is the role and scope of Chartered Accountants in the modern-economy?
After the enactment of the Chartered Accountants Act 1997, only the Chartered Accountants can do the attested function though there is certain exemption to those who hold the audit license under the previous law.
In addition to these legal safeguard, the CAs occupy the prominent role of higher-level executives in the economy and society.
They play a dominant role in accounting, taxation and auditing areas.
With the passage of time, increasing responsibilities are being placed on the members for their specialized knowledge.
The presence of CAs in top management level of various well-known organizations like banks, financial institutions, hotels, industries, NGOs, INGOs, Government offices, etc of the country also signifies the importance and the weight of CA education.
13. Why Prime for CA Classes?
Prime is the only institute in Nepal that provides complete CA Classes i.e. from Foundation / PE-I to Final. In a very short span of time Prime has become a pioneer in Nepal to run CA classes for all levels.
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