CPT- Common Proficiency Test has following subjects:
Paper 1: Fundamentals of Accounting
Paper 2: Quantitative Aptitude
Paper 3A: Mercantile Law
Paper 3B: General Economics
Paper 4A: General English
Paper 4B: Business Communication
IPCC has following subjects:
Paper 1: Accounting
Paper 2: Business Laws, Ethics and Communication
Paper 3: Cost Accounting and Financial Management
Paper 4: Taxation
Paper 5: Advanced Accounting
Paper 6: Auditing and Assurance
Paper 7: Information Technology and Strategic Management
CA Final Exam has following subjects:
Paper 1: Financial Reporting
Paper 2: Strategic Financial Management
Paper 3: Advanced Accounting and Professional Ethics
Paper 4: Corporate and Allied Laws
Paper 5: Advanced Management Accounting
Paper 6: Information System and Control Audit
Paper 7: Direct Tax Laws
Paper 8: Indirect Tax Laws
What are different levels of CA
CA Course Structure has 3 levels:
- CA-IPCC and
Student has to pass each level to go to next level. CPT Exam (i.e. earlier known as CA Foundation),CA-IPCC Exam (i.e. earlier known as CA-Inter) and CA-Final Exam are conducted twice a year.
Next CA-CPT exam will be held in December-2019. CA-IPCC and CA-Final Exam will be conducted in Nov 2019 and May 2020.
Before, you decide your career for CA its important to discuss,
why you should pursue CA Course?
Our Indian economy is intensively very active at this current pace, the managing of accounts and finance is a vital role which has to be performed in a corrective manner at all sectors of management. This most decisive job is done by the Chartered Accountant (CA) and this post is about making a career in chartered accountancy.
Chartered Accountant is considered as one of prestigious career option in India that offers mutual popularity and handsome of salary as base of Profession.
To crown such valuable degree as Chartered Accountant (CA) and becoming an Auditor, the candidates must undergo sequence of various exams and training, conducted by the Institute of Chartered Accountants of India which is the licensing body of CA degree in India.
In order to attend all those exams in Chartered Accountant career one has to meet unique Eligibility criteria’s you’ll get know in this article.
What are Eligibility Criteria for Chartered Accountant?
The Chartered Accountant course starts with three different consequent sections namely, Common Proficiency Test (CPT), Integrated Professional Competence Course (IPCC) and Final Course. Throughout the year registration for both of CPT exam and IPCC exams will be open so that students can enroll at any time but exams will be held at different schedules.The candidates who want to pursue CA should have minimum eligibility of 12th class.
The ICAI (Institute of Chartered Accountants of India has) framed two ways of entries to get into Chartered Accountant curriculum:
- CPT entry after class 12
- Direct entry after graduation
Candidates who want to stick with Chartered Accountant career should decide their mode of entry at time of Class 10 itself, because to attend the CPT exam after completing Senior Secondary Exam (Class 12), the registration must be done after successful completion of Class 10 or with having an equivalent grade from recognized board. In today scenario,it is advisable to choose CA after class 12, so that students can design their future career in advance. Critically, it’s necessary for the students to aware of this Eligibility criteria’s and Entry modes of Chartered Accountants curriculum.
What are Eligibility Criteria for CPT Entry after Class 12?
Common Proficiency Test (CPT)
A candidate who has successfully completed class 10, under the examining body of constituted by law in India (or an equivalent central government recognized examination) are only eligible to register for the Common Proficiency Test (CPT Exam) which is held twice in a year, during the month of June/Dec, (Upcoming CPT Exams are on June-2015 and December-2016) The Exam is conducted by the ICAI constituted by the Law of India (or any other equivalent examining body recognized by the Central Government).
In CPT Entry after Class 12 following Eligibility are concerned to take up the course:
- Class 10 and Class 12 Examination of any recognized board of Association of Indian Universities (AIU) that equivalent to Senior Secondary Examination recognized by Central Government is considered.
- The British examining bodies recognized by, The Association of Indian Universities GCE Advanced level Examination with at GCE ‘O’ level/IGCSE/GCSE in A/B/C Grades as equivalent qualification to Class 12 is considered.
- Students who have done Diploma courses for two years after passing Class 10 under State /Central Government(s) Examination bodies or admitted for any equivalent certified courses using class 10qualifications or any other Central Government recognized Board established by law in India are also eligible to attend Common Proficiency Test (CPT).
However, students can appear for CPT exam only after the successful completion of class 12 or during the waiting period of 12th results, added no restriction with regard to age and secured marks in Senior Secondary Examination is considered. This entry level exam comprised of subjects like General Economics, Mercantile law, general aptitude and Accounting etc. Check detailed syllabus of CPT in the article http://blog.mytrustedtutor.com/common-proficiency-test-cpt-syllabus/
What is Integrated Professional Competence Course (IPCC) Exam?
Once candidates have passed the Common Proficiency Test (CPT), student can register themselves for the Integrated Professional Competence Course (IPCC) Exam which is also held twice in a year during the month of May/Nov (upcoming CA IPCC exam will be held in May-2016 and Nov-2016), where candidates are requested to choose any one of Group I & Group II that includes 9 months of training.
Training & Courses
The IPCC is the starting stage of CA curriculum wherein, the registration for IPCC must be done before 8 months and most of accountancy and core subjects are covered during this course.
Also it’s mandatory for students to attend 100 hours of training in Information Technology courses and 35 hours of orientation courses. Moreover, Computer Training Program is necessary for every candidate who wants to be a Chartered Accountant.
The syllabus covers different sections like business environment, communication skills, general knowledge, personality development, office procedures.
After completing 9 months of IPCC training and courses, candidates have to take up Group I or Group II exams and so typically this Integrated Professional Competence test is known to be intermediate examination.
Subsequently on passing both of Group I Integrated Professional Competence Examination (IPCE) or Group II exams the candidates are eligible to register as Article Assistant for the period of 3 years. In regard to age, the person should be above 18 years during the time of Audit Clerks/ articled clerk registration.
During the time of serving as Articled Assistant, the candidates can register for the Final Exam followed by 15 days of course on General Management and Communication Skills (GMCS) also; this course can be done before the Final exam or during last 6 months of Articled Assistant training. Finally by getting the ICAI membership, candidates are recognized as Chartered Accountant.
What are Eligibility Criteria for Direct entry after Graduation?
The Direct Entry Scheme is only made available for Graduate candidates and they fall under following categories,
- Commerce graduates and Post graduates who have secured minimum of 50% of total marks or equivalent grade in any one of recognized University with subjects, should have studied any 3 papers of Accounting, Mercantile Laws, Auditing, corporate Laws, Economics, Taxation, Costing, Management Accounting, Administration.
- Those graduates who are not stick with the stream of Commerce should have minimum of 60% of the total marks or its equivalent grade in any one of recognized University. Candidates who have successfully graduated from any University (including open Universities) established by law in India also eligible to enter through Direct Entry.
- Those candidates who have cleared CS Executive Exams under Institute of Company Secretaries of India and who have passed the CWA Inter Exams under Institute of Cost Accountants of India are also eligible through this direct graduate entry.
Candidates who enter the CA curriculum through graduate entry are exempted from the CPT exam and they can directly appear for Integrated Professional Competence Course (IPCC) after finishing the Article ship Training.
IPCC eligibility for Graduates
The IPCC is the first level of CA curriculum in Graduate entry; even the final year, who pursuing their graduation are eligible to apply for provisional registration of Integrated Professional Competence Course provided they have to submit, valid certificates after passing the examination with required percentage, along with candidate should undergo Information Technology Training(ITT) and Orientation Courses. Specifically for those who register during the final year should start their training after completing the Graduation.
What is Eligibility criteria for Articleship Training?
The articleship training is a crucial requirement for CA eligibility where this training will complete the Integrated Professional Competence Course(IPCC) level, only for candidates who enter through Graduate entries avails the benefit of direct entry in IPCC after 9 months of articleship training and also exemption is given from Group 1 IPCC exam. Graduates and Post Graduates of Commerce and Non-Commerce graduates has to complete the following courses during their training period,
- Orientation Course
- Information Technology Training
Students who have cleared the examination of The Institute of Company Secretaries of India or The Institute of Accountants of India are eligible for three years of articled training on meeting below requirement:
- Should pass in Group 1 & 2 of Intermediate Professional competence
- Information Technology Training
- Orientation Course
What is Eligibility Criteria for Final Examination?
In CA course, the final exam is common for both Class 12 entry and Graduate entry the exam is comprised of both practical and theory examination.
In total there are 8 subjects as 2 groups each holds 4 papers,which carries 100 marks for each subjects. The student should secure minimum of 40% in every paper, if fails then they have to reappear again.To complete the Final examination candidate must meet below requirements:
- The candidate should clear the Intermediate and PE-II Exam.
- After completion of Intermediate and PE-II Examination the candidate has to apply for the Final course to get registration number under concerned Board office.
- To attempt the examination the candidates are expected to complete their practical training.
What is Final process to Become Chartered Accountant??
After completing all unique eligibility criteria’s, the Chartered Accountant career will provide a depth of knowledge in accounts and economic ethics through ideal training and exams. CA career is considered to be one of best beneficial career in India.
Chartered Accountants also called Auditors, are the designing tool of Indian economy and so along with career, they also obtain challenging rewards and pleasing personality, instant analyzing and many more professional skills and Ethics.
Once the candidate qualifies eligibility criteria then the person will be in great demand to acquire greatest career opportunities both in India and foreign countries.
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