Chartered Accountancy in Nepal is recognized as one of the best professions all over the world and a very large number of students are attracted to this profession. Chartered Accountants have a High Demand in the Industry that carves a path towards the topmost administrative job positions in the field of education. It is known as a prestigious, responsible, and rewarded profession all around the world. Being a Chartered Accountant is a tough road and this course is not for the one who follows others like a sheep. Nepal is competing with other world-renowned countries head to head. For students who pursue Chartered Accountancy in the country, the growing market/business society has produced a variety of opportunities. The study of Chartered Accountancy has been established in Nepal not long ago but the scope of CA has flourished a lot in a short period. Many successful colleges offer CA education in Nepal.
History of CA in Nepal
The history of Chartered Accountancy in Nepal started a few years ago. Despite the short period, CA has been able to mark its existence in Nepal quite strongly. The popularity of CA in Nepal is growing daily and is still in full swing.
The Institute of Chartered Accountants of Nepal (ICAN) was first established under Chartered Accountant Act 1997 in Nepal. ICAN aims in building social recognition of people mainly in the accounting profession by raising public awareness towards the importance of the accounting profession. In addition to this ICAN also focuses to make people understand the value and importance of the social responsibility of accountants in the development of the nation. ICAN is an autonomous body and the ICAN council is fully authorized by the Act of 1997 to take on the accountancy profession in Nepal.
The Institute of Chartered Accountants of Nepal (ICAN) is also the organ of the International Federation of Accountants (IFAC), the Confederation of Asia and Pacific Accountants (CAPA), and the South Asian Federation of Accountants (SAFA). ICAN of Nepal is also accountable for carrying out the purpose it has set.
In the Nepalese context, Chartered accountants, due to their practice management, analysis skill, knowledge, many private business industries, and government offices are highly prioritizing CA professionals, thus, making CA a high demand job In Nepal.
Scope of Chartered Accountancy in Nepal
The scope of CA in Nepal is effective as the business industry is highly highlighting CA professionals in their profession. Not only in the private business sector but the skill and the practical knowledge of a CA is required in many government offices making them important in government bodies as well. Due to their importance in governmental bodies, many CA professionals are working as high-level officers in many governments as well as private offices. Some of the importance of Chartered Accountancy in Nepal are:-
- Most banks require CA members in a higher post. Banking industries are developing in Nepal in a wide range and CA demand is high.
- CA holds high and respected positions in insurance firms as well.
- CA contribute its expertise and knowledge as a teacher to the education sector as well.
- CA offers a lot of career options and opportunities with the best salary.
- There are many INGOs and NGOs in Nepal, so they need guidance on taxation and finance. CA’s are employed and are given a fair sum in such situations.
- Economic development is booming in Nepal and CA’s are participating as financial guidance. They play a crucial role in the growth of economic conditions.
- They also give their services to the capital market.
CA course study in Nepal
CA course is distributed in three levels namely:-
It is an entry-level test that is designed to provide basic knowledge about CA to students. The duration of this level is 6 months and the eligibility that the students must meet to study this level are:-
- The students must have completed higher secondary education.
- Graduates/ postgraduates students should have a minimum score of 50% in commerce and 60% in another stream.
Fee structure for CAP 1: – Rs.27,500.
Exam schedule: – Exam is held twice a year, once in June and in December.
Course detail of CAP 1
- Fundamentals of Accounting – 100 marks.
- Mercantile laws and fundamentals of economics -100 marks.
- Fundamentals of Management and commercial math and statistics – 100 marks.
The second level of CA is CAP-2 Level and the duration of this level is nine months. It is designed to provide requisite knowledge and skills to students in the subject.
- The students must have passed the CAP-1 level.
- Graduates/ postgraduates students should have a minimum score of 50% in commerce and 60% in other streams.
Fee structure for CAP-2: – 32,500.
Exam schedule: – Same as CAP-1.
Course detail of CAP-2
- Advanced Accounting – 100 marks
- Audit and Assurance – 100 marks.
- Corporate and other laws – 100 marks
- Financial management – 100 marks.
- Cost and Management Accounting – 100 marks.
- Business communication and Marketing – 100 marks.
- Income Tax and VAT – 100 marks.
The third and last level of the CA course is CAP-3. The duration of this level is three years. It is a practical training level which is designed to give deeper insight to advanced level of professional expertise and skill to students. The students are paid for their training provided during this period.
The students must have passed both group levels of the CAP-2 period.
Fee structure: – Rs. 40,000.
Exam Schedule: – Same as other CAPs.
Course study for CAP-3.
It consists of 8 papers divided into two groups of 100 marks each.
|Group A||Group B|
|Advanced Financial Reporting||Management Information System
|Advanced Financial Management||Advanced Taxation|
|Advanced Audit and Assurance||Advance Cost and Management|
|Corporate Laws||Strategic Management and Decision Making Analysis
Recommended College for CA course in Nepal
With the growing number of students referring as well as taking CA courses, numerous institutions and colleges have adapted and are proving world class CA courses in Nepal. Every year the number of students enrolling in CA is growing. There are colleges and institutions especially in the valley which provide CA courses. Some of the CA Colleges in Nepal where CA course is available are:
- Chaitanya Institute of Management, Shankhamul, Kathmandu
- CCMA College Pvt. Ltd., Putalisadak, Kathmandu
- National College of Accountancy, Battisputali, Kathmandu
- People’s Campus, Paknajol, Kathmandu
- Lumbini Banijya Campus, Devinagr, Butwal
- Herald College, Bishalnagar, Handihaun, Kathmandu
- Chartered Academics International (CAI) Pvt. Ltd., Putalisadak, Kathmandu
- CIMA Academics Pvt. Ltd., Putalisadak, Kathmandu
- Enlightened International Private Limited, Srijana Chowk, Pokhara
- Professor Academy Pvt. Ltd., Bharatpur, Chitwan
- Prism Centre of Learning Pvt. Ltd., Pokhara, Kaski