Chartered Accountancy in Nepal

Chartered Accountancy in Nepal

Chartered Accountancy in Nepal
Tejaswee RawalWed Mar 02 2022

Institute of Chartered Accountants of Nepal or ICAN is an autonomous body that is fully authorized by the Act to regulate the accountancy profession in Nepal. This course is highly challenging and also highly rewarding. 

Chartered Accountancy in Nepal covers important accountancy subjects like finance, economics, mathematics, business management, auditing, accountancy etc.

This course is divided into 3 CAPs. 

  • CAP - I - Six Months.
  • CAP - II - Nine Months.
  • CAP -III - Three Years (including practical training).

Only after the successful completion of CAP-I, students can proceed to CAP -II. The tuition fee of CAP 1 (6 months) is Rs. 27,500. To join CAP -II, students need to pass the eligibility test held by ICAN to join CAP 2.

The tuition fee of CAP 2 is Rs. 32,500. To enter the final stage, students need to pass the eligibility test. 

CAP 3 includes practical training. 

Students can do CA along with a college education. Many students study CA alongside Bachelor's programs like Bachelor of Business Studies (BBS), Bachelor of Business Management (BBM), Bachelor of Business Administration (BBA) etc.

Follow this guide till the end to get detailed information on CA in Nepal including answers to common questions such as How to become CA in Nepal? How much does a CA earn in Nepal? Who can study CA? etc. 

Eligibility to study CA in Nepal

Depending upon whether the students are going for a foundation route or a direct entry route, the entry requirement to study CA in Nepal could vary. 

To study CA in Nepal, students need to complete class 12. Students need to register for the foundation course of ICAI. Students from any stream, be it science or management, can study CA in Nepal. 

For the students who have completed a Bachelor's or Master's degree in commerce with a minimum of 55 to 60%, you can get a direct entry route. 

There is no age limit for the students to get registered into this program, Nevertheless, students are required to be a minimum of 12 years of age. 

CA course in Nepal

The course for CAP-I are: 

Paper 1

Fundamentals of Accounting

100 Marks

Paper 2

Mercantile Laws and Fundamentals of Economics

100 Marks

Paper 3

Fundamentals of Management and Commercial Mathematics and Statistics

100 Marks

The course for CAP-II are: 

CAP-II comprises 7 papers which are divided into 2 groups. 

 

Group I

 

 

Group II

 

Paper 1.

Advanced Accounting

100 Marks

Paper 4.

Financial Management

100 Marks

Paper 2.

Audit and Assurance

100 Marks

Paper 5.

Cost and Management Accounting

100 Marks

Paper 3.

Corporate and Other Laws

100 Marks

Paper 6.

Business Communication and Marketing

100 Marks

 

 

 

Paper 7.

Income Tax and VAT

100 Marks

Course of CAP-III

CAP-III of Chartered Accountancy comprises 8 papers broken down into 2 groups.  The tuition fee for CAP-III is Rs. 40,000. 

 

Group I

 

 

Group II

 

Paper 1.

Advanced Financial Reporting

100 Marks

Paper 5.

Management Information and Communication System

100 Marks

Paper 2.

Advanced Financial Management

100 Marks

Paper 6.

Advanced Taxation

100 Marks

Paper 3.

Advanced Audit and Assurance

100 Marks

Paper 7.

Advanced Cost and Management Accounting

100 Marks

Paper 4.

Corporate Laws

100 Marks

Paper 8.

Strategic Management and Decision Making Analysis

100 Marks

List of Colleges offering Chartered Accountancy in Nepal

  • Birgunj Public College (BPC)
  • Chaitanya Institute of Management (CIM)
  • Merryland College
  • Nepathya College
  • Premier College
  • CCMA College
  • British College
  • International School of Management and Technology (ISMT)

CA Scholarship

There are many scholarships available for eligible students. Those who have met the following requirements can apply for scholarships. 

CAP-I Level: 

  • Students with a minimum of 2.8 CGPA or equivalent grade in management stream or 3.2 GPA or more in other streams than management and are from economically and the geographically backward group can apply for a scholarship on an economically and geographically backward basis.
  • Students with a minimum of 3.2 GPA in management and a minimum of 3.6 CGPA in other streams than management can apply for the scholarship on a merit basis. 

CAP-II Level:

  • Students with a  minimum of 60% in Bachelor's degree or CAP I and from an economically and geographically backward group can apply for scholarships on an economically and geographically backward basis.
  • A minimum of 75% in Bachelor's degree may apply for the scholarship on a merit basis. 

Scope of CA in Nepal

CA/ Chartered Accountant is a highly rewarding profession with endless opportunities once students pass the final board. You can find careers in a number of areas such as-

  • Entrepreneurship
  • Start-up Counseling, Management consulting
  • Business Valuation for Sales and purchases of goods and services
  • Business Planning, Budgeting and Financial Projections
  • Corporate and income tax planning Developing management controls and accounting software
  • Acting as a trustee for receivership insolvency and bankruptcy
  • Cost estimation and cost accounting
  • Financial/Tax accountancy
  • Developing strategies for securing financial aid and sponsorship

As a CA, you can fulfil different roles as a trustee, executor, administrator valuator, liquidator, advisor, consultant or as representative for finance matters including taxation, corporate law matters etc. 

Job opportunities exist in a number of areas like: 

  1. Private Sector Job (eg: manufacturing companies, trading businesses, private telecommunications and private tax consultancies)
  2. Public Sector Job
  3. Government Departments Job (Eg: Governmental banks, Governmental offices, Nepal Telecom, NEA etc)
  4. Audit (Statutory Audit, Internal Audit and Tax Audit etc.)
  5. Certification Work, Property valuation
  6. Management Consultancy Services
  7. Certified Liquidator
  8. Accounting Job (Finance manager, Chief Accountant)
  9. Banking, Financial Institutions, Insurance Companies
  10. Corporate Management
  11.        Political appointment at senior level
  12. Investigations or Forensic Accounting
  13. Teachers and Professors in CA institutes and colleges. Can compete for government lecturers position too.

The starting salary of CA in local firms is around NPR 5 Lakhs per year. In bigger and national firms, CA can earn more than NPR 10 Lakhs per year. 

According to Payscale, the salary of a CA in Nepal is about Note that after you have completed the intermediate level, you need to complete a 3-year internship in the audit firms or get the industrial training of 3 years. 

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