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Chartered Accoutant admission procedure


Posted Date: 13-Apr-2010  Last Updated:   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"
Guest Author: D.Nagaraju     19 Jan 2012
Thank you Very much sir ,i am feel very happy, sir please ionform weather compulsory pass of cpt to be eligable for ipcc or after completion of undergraduation if i had complete my undergraduation with 60% then i will be eligable for ipcc compulsory passing of cpt sir please inform me


Thanking you



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