About Indian Chartered
Accountancy Course
The Indian
Chartered Accountancy Course is the membership
qualification course offered by the Institute of
Chartered Accountants of India (ICAI). Any person who
wants become a member of ICAI and designate himself as a Chartered
Accountant in India has to pass this course. This course is a
optimum blend of practical and theoretical education. It consists
of three levels of examinations and three years of practical
training under a practising Chartered Accountant. The Chartered
Accountancy course is considered to be one of the rigorous
professional courses in India but not difficult if one puts his
fullest efforts.
CPT
The CPT or Common Proficiency
Test is the first level of Chartered Accountancy
examinations. A person can register for CPT after completing Grade
10 and take the exam after completing High School (Grade 12). It is
an objective type examination and consists of 200 multiple choice
questions. CPT covers four basic subjects divided into two sections
viz. 1.Fundamentals of Accounting(60 Marks)+ Mercantile Laws(40
Marks) and 2.Economics(50 Marks)+ Quantitative Aptitude(50 Marks).
Every incorrect answer on the CPT exam carries a 0.25 negative
mark..A candidate is required to secure a minimum of 30 per cent
marks in each Section and a minimum of 50 per cent marks in
aggregate in all the four Sections to pass the Common Proficiency
Test.[2] CPT exams are held in June
and December in paper pencil mode. On-line CPT exams are also
conducted periodically. But with effect from 3rd Aug 2012 CPT is
exempted for the Graduates, Post Graduates and the students having
equivalent degrees. Commerce graduates with 55% and other graduates
with 60% can take direct admission for
IPCC.
IPC
IPC or Intermediate Professional Course is the
second level of Chartered Accountancy examinations. A person can
take the IPC Examination after passing CPT and nine months of
study. IPC has two groups of seven subjects. Group - I consists of
four subjects and Group - II of three subjects.Group - 1,
1.Accounting, 2.Business Laws, Ethics and Communication,3.Cost
Accounting and Financial Management, 4.Taxation; Group 2:
5.Advanced Accounting 6. Auditing and Assurance 7. Information
Technology and Strategic Management. A passing grade is awarded if
the candidate obtains 40% marks in each subject and 50% in
aggregate in each group.
FINAL
CA Final Examination is the last and final level of Chartered
Accountancy Examinations. Any person who has passed both the groups
of IPCC, during the last six months of articleship can take the
Final Examination. This exam consists of two groups of four
subjects each viz. Financial Reporting, Strategic Financial
Management, Advanced Auditing and Professional Ethics, Corporate
and Allied Laws, Advanced Management Accounting, Information
Systems Control and Audit, Direct Tax Laws and Indirect Tax Laws. A
passing grade is awarded if the candidate obtains 40% marks in each
subject and 50% in the aggregate in each group.
ICAI conducts CPT exams in June and December, IPCC and
Final examinations in May and November each year. Examinations are
conducted in major cities in India and other countries such as Abu
Dhabi (U.A.E.), Dubai (U.A.E.) and Kathmandu (Nepal). ICAI updates
content and format of examinations periodically in keeping with
technical progress and changes in practice of the profession. The
ICAI last revised its training course for membership in 2008.[3]
for the final year.
Articled and industrial training
After passing Group - I of IPCC, a candidate must
undergo a rigorous 3 year on-the-job training as article or audit
assistant, articleship. Only members in
practice are entitled to engage
GMCS
General Management and Communication Skills Course
or GMCS is a 15 day mandatory course and was introduced in 2002 to
improve business communication, presentation and interpersonal
skills of Chartered Accountants. Completion of the course is a
pre-requisite for obtaining membership and can be taken twice, once
during the first year of the articleship training and second during
the last 12 months of Articleship, before or after appearing for
the final examinations.
