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Resources » Articles/Knowledge Sharing » Career Guidance

Chartered Accoutant admission procedure


Posted Date:     Category: Career Guidance    
Author: Member Level: Gold    Points: 2


In India chartered accountancy course is being provided by the Institute of Chartered Accountant of India. It is a 3 stage admission procedure and at every stage you have to prove your efficiency to become an Chartered Accountant.



 

In India Chartered Accountant course is being provided by the Institute of Chartered Accountant of India (an statutory body setup under an act of parliament) It is also popularly known as ICAI.

ICAI has all the authority to conduct Chartered Accountant exams. It conduct exams in 3 stages.First exam is common proficiency test better known as CPT, next one is IPCC i.e. integrated professional competence course and third and last is C.A. Final exams.

A student can register for CPT after 10th standard however he can appear in exam only after 12th standard.It is an entry level test. The test contains two sessions. In every session there are 2 exams.

Session I:
Section A: Fundamentals of accounting
Section B: Mercantile Law

Session II:
Section C: General Economics
Section D: Quantitative Aptitude

Minimum passing marks are 50% overall.However it is proposed to be increased to a level of 60%. Students are allowed normal calculator in examination. They can't use scientific calculator.

After passing CPT a student has to register himself for IPCC. A student can appear in IPCC only after 9months of passing CPT. The IPCC examination are held twice a year in the month of May and November. This is also divided in 2 groups.

Group I:
Paper1:Accounting
Paper2:Law,Ethics and communication
Paper3:Cost accounting and financial management
Paper4:Taxation

Group II:
Paper5:Advanced Accounting
Paper6:Auditing and Assurance
Paper7:Information Technology and Strategic Management

The level of knowledge is working knowledge.

One can undergo for one or both groups. To clear exams minimum passing marks are total 50% in each group and 40% in each paper. Once a group is cleared you are not required to pass it again. After passing group1 one can also enroll for ATC certificate. This for one who don't wish to study ahead for any reason. They are awarded with Accountant Technician certificate which has its own scope.

After clearing group I one has to register for practical training. It is given by a practicing C.A. For ATC one year practical training is required and for C.A. 3 years practical training is required.

After completion of due training one can go for C.A. final exams.There is some provision also to give exams in last 6months of training. C.A. final exams contains following subjects.

Group I:
Paper1:Financial Reporting
Paper2:Strategic Financial Management
Paper3:Advanced Auditing and Professional Ethics
Paper4:Corporate and Allied Law

Group II:
Paper5:Advanced Management Accounting
Paper6:Information System control and Audit
Paper7:Direct Tax Laws
Paper8:Indirect Tax Laws

The passing % is same as for IPCC i.e. aggregate of 50% in a single group and minimum 40% in each subject. After clearing both group of final exams one has to a 15 days special training on GMCS i.e. general management and communication skills.

After this one can enroll as a member of the ICAI and can be called Chartered Accountant.

Regards,
Jain_ankit
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Responses to "Chartered Accoutant admission procedure"
Author: rahul kundliya    13 Apr 2010Member Level: Bronze   Points : 2
Admission requirements for members of the
Institute of Chartered Accountants of India

following admission requirements:
Academic study requirements
ACA members of ICA India are required to complete at degree level or above:
Recognised courses in three advanced accounting elective topics* including either auditing or financial accountin
A recognised course(s) in New Zealand taxation
A recognised course(s) in New Zealand commercial law
Four “liberal”/general studies courses

chosen from the following options:
Financial accounting • New Zealand taxation • Accounting information systems
Auditing

Business finance/treasury
ACA members of ICA India are deemed to have successfully completed course(s) in advanced management accounting,
and the accounting and business-related compulsory topics with the exception of taxation and commercial law. The courses
in New Zealand taxation and New Zealand commercial law must be completed at a tertiary institution approved by the
Institute. A list of approved tertiary educational institutions (ATEIs) is attached. The tertiary institution you choose to attend
should be able to provide you with specific advice regarding individual courses that are recognised by the Institute as
satisfying the topics listed in this information sheet. Please contact our Registry Services team if you require clarification.
ICA India Admissions requirements information sheet March 2005
Practical experience requirements

Two years’ post-academic specified practical experience in an Institute-approved training organisation (ATO) and with
an Institute-registered mentor.
ACA members of ICA India are not required to provide evidence of having completed one year of general practical

experience before undertaking specified practical experience.
Professional competence requirements
Professional Competence Examination 1 (PCE 1)
Professional Accounting School (PAS)
Professional Competence Examination 2 (PCE 2)

A candidate must also satisfy the Institute that he/she is of good character and reputation.

Applying for provisional membership of the CA College
On completion of the academic requirements a candidate should apply for provisional membership of the Institute. An
application for provisional membership is available at from the Membership Section of the Institute’s web site (icanz.co.nz).
It is necessary for a candidate to be registered as a provisional member of the Institute and to have completed, or been
exempt from, the one year general practical experience requirement to be eligible to sit PCE 1. On admission to provisional
membership, an ACA member of ICA India will be issued with a letter of eligibility to sit PCE 1.
Applying for full membership of the CA College
On successful completion of all the admission requirements, provisional members may apply for full membership as a CA by
completing an application form for full membership. Application forms may be downloaded from the Membership Section of
the Institute’s web site (www.icanz.co.nz).
Full members of the CA College are entitled to use the designations “Chartered Accountant” and “CA”. It should be noted,
however, that a member of the Institute may not offer accounting services direct to the public unless he or she also holds a
Certificate of Public Practice (CPP).


Enquiries:
Registry Services Helpdesk
New Zealand Institute of Chartered Accountants Phone: 64-4-474 7840
Cigna House Fax: 64-4-473 6303
Level 2, 40 Mercer Street Email: registry@nzica.com
PO Box 11 342 Web site: www.nzica.com
Wellington
New Zealand



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