CHARTERED ACCOUNTANCY DETAILS- ICAN

 Chartered Accountancy in Nepal  

The history of Chartered Accountancy in Nepal is only a decade long. Despite its short history, CA has able to mark its existence in Nepal quite firmly. The popularity of CA in Nepal is ever so growing and is still in full swing.

The Institute of Chartered Accountants of Nepal (ICAN) was established under Chartered Accountant Act 1997 in Nepal. ICAN aims in enhancing social recognition of people largely in accounting profession by raising public awareness towards the importance of accounting profession. In addition to this ICAN also is in constant work to make people understand and value the importance of social responsibility of accountants in development of the nation.  ICAN is an autonomous boy and the council is fully authorized by the Act of 1997 to undertake accountancy profession in Nepal.

The Institute of Chartered Accountants of Nepal (ICAN) is the member 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 responsible for carrying out the objectives it has set.

” ICAN to be recognized as a respected professional accounting body, providing leadership on standards, education and self-regulation in Nepal “

As the main mission and vision, ICAN embraces the following as its objectives:

• To play the role of regulatory body in order to encourage the members to carry on accounting profession being within the limit of the code of conduct laid down so as to make accounting profession transparent.
• To develop, protect and promote the accounting profession by making the members and the practicing accountants understand the responsibility towards the importance of the accounting profession and the accountancy.
• To provide quality professional education to accounting professionals in consonance with international norms and practice so as to make the accounting profession respectable and reliable.
• To support the government with constructive suggestions towards the formulation and the revision of legislation in regards to commerce, trade, accounting, revenue etc.
• To support the economic development process by increasing the confidence among investors and general public towards the capital market by pronouncing the standards of discloses in financial reporting practices.

With ICAN doing its work in its respective place we can see the positive impact of ICAN in the country. CA has become increasingly popular among students. Considering the opportunities Chartered Accountancy study can offer in the future, it is not surprising that CA has become the preferred subject of many hardworking students.

Nepal, like any other countries is racing in the advancement of business and management fields, thus providing massive amount of options for CA professional. Thus, the advancement in the business and the career security has made CA one of the first picked courses by the students. The number of students studying CA within the country is increasing. The career prospect it holds is the key component and main reason behind its popularity and becoming priority of many.

Moreover, the number of institutions promising preparation classes for CA entrance to providing international level CA courses is increasing throughout the country, especially in and around the valley. And these institutions are also as promised has produced CA graduates that can compete in any global market. We have listed below the details all the CA Colleges in Kathmandu that have been providing CA education in Nepal skills to the students.The course is divided into:

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

The CAP-I level comprises 3 papers follows:
Paper 1: Fundamentals of Accounting100 Marks
Paper 2: Mercantile Laws and Fundamentals of Economics100 Marks
Paper 3: Fundamentals of Management and Commercial Mathematics and Statictics100 Marks

The CAP-II Level comprises 7 papers divided into two groups as follows: 
Group I  
Paper 1: Advanced Accounting100 Marks
Paper 2: Audit and Assurance100 Marks
Paper 3: Corporate and Other Laws100 Marks
Group II
Paper 4: Financial Management100 Marks
Paper 5: Cost and Management Accounting100 Marks
Paper 6: Business Communication and Marketing100 Marks
Paper 7: Income Tax and VAT100 Marks   

The CAP-III level comprises 8 papers divided into two groups as follows:  
Group I  
Paper 1: Advanced Financial Reporting100 Marks
Paper 2: Advanced Financial Management100 Marks
Paper 3: Advanced Audit and Assurance100 Marks
Paper 4: Corporate Laws100 Marks
Group II
Paper 5: Management Information System100 Marks
Paper 6: Advanced Taxation100 Marks
Paper 7: Advanced Cost and Managment100 Marks
Paper 8: Stategic Management and Decision Making Analysis100 Marks