Chartered Accountancy Common Proficiency Test ( CPT)
websit : http://www.icai.org
Exam Date : 3rd febuary 2008
The Institute of Chartered Accountant of India,
ICAI Bhawan,
52, 53 & 54, Vishwas Nagar
Sahadra, Near Karkarduma Court Complex,
New Delhi - 110 032
EPABX No: (011) 39893990
Fax : (011) 30210680
Introduction
Chartered Accountancy is a rewarding profession where one can practice his/her own or can do jobs in various public and private sector companies. The areas of work include accounting, auditing, corporate finance, project evaluation, company and other business laws, taxation and corporate governance. The multi-faceted knowledge a chartered accountant enjoys through unique academic programme blended with practical training is what the business and industry need in the advent of liberalisation, privatization and globalisation of Indian economy. Chartered Accountants are better equipped to discharge accounting and audit functions in a computerized business environment. In recent times, all over the world, accountancy has grown in popularity as a lucrative profession. Wherever there are makers and users of money, (however, small their individual business may be), the services of a CA are required. Moreover, under the Companies Act, only CAs in professional practice are entitled to be appointed as auditors of companies in India.
CPT is an entry level test for Chartered Accountancy Course. It is a test of four subjects i.e. Accounting, Mercantile Laws, General Economics and Quantitative Aptitude. This test is of 200 marks. This test is divided into two sessions of two hours each
Chartered Accountants Entrance Exam conducted by the Institute of Chartered Accountants of India (ICAI)
Courses & Eligibility: A Simplified Entry to the Chartered Accountancy Course
CPT will replace existing Professional Education (Course-I) which requires 10-month study period followed by an exhaustive theoretical examination. CPT is an objective type test to be held every February, May, August and November. This will reduce long waiting for entry to the chartered accountancy education and training. Common Proficiency Test will be an objective type multiple choice based examination. Candidates will be allowed to opt for Hindi medium Question Paper Booklet for answering the questions. Detailed information will be found given in the Information brochure. Common Proficiency Test (CPT) is open only to those students who are already registered with the Institute of Chartered Accountants of India for the said course and fulfill the requisite eligibility conditions.
A chartered accountant is a person who is accepted as a member of the Institute of Chartered Accountants of India (ICAI) after having passed the final examination for the chartered accountancy course conducted by the institute. A candidate who desires to become a member of the Institute of Chartered Accountants of India (ICAI) and thereby a practicing chartered accountant must:
(a) Clear the intermediate and final examination of the institute.
(b) Register as an articled or audit clerk with a practicing chartered accountant.
(c) Register with the board of studies of the institute.
In order to be eligible for appearing in the intermediate and final exams of the institute, the aspirant must have successfully completed and passed the foundation course. Most chartered accountants are commerce graduates with good percentage of marks. Registration to the foundation course of one-year duration is open to those who have completed 10+2. The foundation course can also be taken up simultaneously with graduate or postgraduate studies. Commerce graduates with 50% marks, non-commerce graduates without maths, with 55% marks and non-commerce graduates with maths and an aggregate of 60% marks are exempted from the foundation exam and are permitted to register as articled clerks for practical training.: Common Proficiency Test (CPT) is open only to those students who are already registered with the Institute of Chartered Accountants of India for the said course and fulfill the requisite eligibility conditions
The Council reserves the right to withdraw any centre at any stage without assigning any reason.
How To Apply: Applications for admission to Common Proficiency Test is required to be made on the relevant prescribed form as contained in the Information Brochure, which may be obtained from the Joint Secretary (Examinations), The Institute of Chartered Accountants of India, ICAI Bhawan, Indraprastha Marg, New Delhi – 110 002 on payment of Rs. 400/-(Rs.300/- towards examination fees and Rs. 100/- towards cost of application form and Information brochure) per application form. Since the cost of Information brochure containing Common Proficiency Test application form includes the examination fee no separate fee is required to be remitted at the time of submitting the filled in application form. The Information brochure containing Common Proficiency Test application form will also be available in the Regional and Branch Offices of the Institute and can be obtained there from on cash payment on or from the date mentioned.
Pattern of exam/Scheme of the Examination
Session I (Two sections-Two hours-100marks)
· Section A – Fundamental of Accounting (60 marks)
· Section B – Mercantile Law (40 marks)
Session II (Two sections-Two hours-100marks)
· Section C – General Economics (50 marks)
· Section D – Qunantitative Aptitude (50 marks)
CPT is an objective type test with negative marking of ¼ for each wrong answer with jumbled questions.
Minimum Marks – 50% of the total marks allotted i.e. 100 marks out of 200 marks.
INSTITUTES/UNIVERSITIES
The Institute of Chartered Financial analysts of India University (ICFAI)
Address : The ICFAI University
Jagannath Bari Road, Bidurkarta Chowmuhani
Agartala-799001.Tripura (West)
Phone : 0381-2319507
E-Mail : ssd@icfai.org, www.icfai.org
Financial Planners & Advisory Academy Pvt Ltd,
7, Readymoney Terrace,
167 Dr Annie Beasant Rd,
Worli Naka, Mumbai 400018
International College of Financial Planning,
3rd Floor, Gulab Bhawan,
6, Bahadur Shah Zafar Marg,
New Delhi - 110002
Phone : +91-11-66159000
Fax : +91-11-66159014
E-mail : info@icfpindia.org
Webiste : www.icfpindia.org
Wigan & Leigh College , website : www.wiganindia.org
Courses Offered : MS-(Accounting programme. The program covers comprehensive training in areas like management, information technology & E-Business US GAAP, code of ethics, and soft skills, along with the core areas like accounting, auditing, taxation and business law.
Important Institutes for Accounting Management are :
Courses Offered : MS-(Accounting programme. The program covers comprehensive training in areas like management, information technology & E-Business US GAAP, code of ethics, and soft skills, along with the core areas like accounting, auditing, taxation and business law.
A guide to Common Proficiency Test (CA CPT)
Course structure
In tune with the global trend, the Institute of Chartered Accountants of India (ICAI) has always revamped its course structure and approach methods to tackle the demand.
Unlike a few years ago when one could join the course only after completion of graduation, it is now open after the tenth examination. One can register with the ICAI after clearing the tenth examination and the join the course on completion of intermediate.
The eligibility is 50 per cent marks in intermediate and one has to pass the CPT (Common Proficiency Test). The CPT is applicable to all and even graduates have to clear the CPT to join the CA course.
On successful completion of the CPT, one has to register for PCC (Professional Competence Course) and at the same time join the practical training or articleship under a qualified chartered accountant for a period of three-and-a-half years.
After completion of one year and six months of practical training, one will be eligible to appear for PCC examination and on successful completion he or she has to register for the final examination.
Upon completion of the full practical training period one will be eligible to appear for the final examination.
Flow chart (Here is a flow chart of the course structure)
Pass 10th => Register with ICAI=>Complete Intermediate and clear CPT (Common Proficiency Test)=>Register for PCC (Professional Competence Course) and practical training=>Attempt PCC (after one-and-a-half year of training)=>Complete practical training – attempt for final examinations and GMCS (General Management and Communication Skills) Qualified chartered accountant
“To compete with the MBA (finance) professionals, ICAI has implemented a 15-day contact class on GMCS (General Management and Communication skills) after the final examination to sharpen the communication skill of the candidates. It is mandatory and the course will be taken up by professionals at all recognised chapters of ICAI. On successful completion of the GCMS one will be certified as chartered accountant,” says A. Sudheer a qualified chartered accountant.
This test is conducted four times in a year (February, May, August and November) and is an objective type one with negative marking system.
The test comprises four papers: Accountancy, mercantile law, quantitative aptitude (mathematics and statistics) and economics. It is a 200 marks paper and is spread over two sessions.
In the PCC, the course is spread over two groups and comprises subjects like accountancy, auditing, business law and business ethics and communication, costing and financial management, taxation (income tax, service tax and VAT) and information technology and strategic management.
The final is also made up of two groups and covers subjects like advanced accountancy, management accountancy and financial management, advanced auditing, company law and secretarial practice, advanced costing, MIS, direct taxes and indirect taxes.
For more details visit: http://icai.org/
On the study pattern, Ramachandram and Sudheer say, “There is a misnomer that the course is difficult and the percentage of pass out is regulated. The course is not difficult but the approach should be different.
Conceptual learning pattern is best suited for this course.
The 18-hour study approach is a myth, but one should read the entire portion and not leave anything in the name of choice. One hour per subject in each group on a daily basis is sufficient
CPT Calendar – upto February 2008
Date of CPT Examination |
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Last date of Registration with the Board of Studies |
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Date of Release of Examination Form |
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Last date for Submission of Examination form |
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Date of Publication of Result |
May 6, 2007 |
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March 01, 2007 |
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March 2, 2007 |
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March 23, 2007 |
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June 01, 2007 |
August 5, 2007 |
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June 01, 2007 |
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June 5, 2007 |
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June 26, 2007 |
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September 01, 2007 |
November 4, 2007 |
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September 01, 2007 |
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September 5, 2007 |
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September 26, 2007 |
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December 01, 2007 |
February 3, 2008 |
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December 01, 2007 |
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December 6, 2007 |
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December 26, 2007 |
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March 01, 2008 |
Career Options for Chartered Accountants
The types of functions generally performed by the Chartered Accountants are quite varied; some of the important ones amongst them are listed below:
Accountancy: The writing up of accounts and the preparation of Financial statements from the simplest receipts and payment Accounts of a small club to the complex and detail accounts of large public limited companies.
Auditing: The purpose of auditing is to satisfy the users of financial Statements that the accounts presented to them are drawn up on Correct accounting principles and that they represent a true and fair view of the state of affairs.
Taxation: The assessment of taxes is closely linked to financial Accounts. The Chartered Accountant with his experience in accounts is in an advantageous position to prepare the returns for tax purposes, represent assesses before the income tax authorities and render general advice on taxes to his clients. The services of CA may be requisitioned by the tax department for auditing taxation cases with large revenue potential.
Cost Accountancy: A Chartered Accountant is equipped to provide information on costing for the guidance of management, introduce cost control methods and assist the management in determining appropriate selling prices.
Special Company Work: The services or advice of Chartered Accountants are frequently sought in connection with matters such as the formation, financial structure and liquidation of limited companies.
Investigation: Chartered Accountants are often called upon to carry out investigation to ascertain the financial position of business house for the purpose of issue of new shares, purchase or sale or financing of business, finding out reasons for increase or decrease of profits, reconstruction and amalgamations.
Executors and Trustees: A Chartered Accountant is also often appointed executor under a will or trust in order to carry on the administration of the estate or settlement.
Directorship: Many members of the Institute who hold senior positions in industry and commerce are also directors of their companies.
Companies Secretarial Work: As a Secretary, the Chartered Accountant is an important link in the management chain.
Management Accounting: The Chartered Accountant’s service is utilized in a variety of ways like formulation of policies, control and performance evaluation.
Share Valuation Work: A Chartered Accountant undertakes the valuation of shares of public and private companies at the time of amalgamation or reorganization.
Other Activities: Other duties undertaken by a Chartered Accountant includes those of an Arbitrator for settling disputes specially those connected with insolvency work such as the preparation of statements of affairs and the duties of a trustee in bankruptcy or under a deed of arrangement.
To be good Chartered Accountant, you require not just business acumen and numerical ability, but good communication skills, objectivity, independence of thought and integrity coupled with the ability to work under the pressure of deadlines.
A person who desires to be a Chartered Accountant has to be a member of the Institute of Chartered Accountant of India, Indraprastha Marg, New Delhi-110002. The Institute was established in 1949 under the Chartered Accountants Act, 1949 and is governed by a Council in accordance with the Chartered Accountants Regulations , 1988.
Chartered Accountants have various options for pursuing rewarding career. Some of the available options are:-
- Set up independent professional practice.
- Join a practicing firm of Chartered Accountants.
- Render services in the field of capital market.
- Engage in your own industrial/business venture.
- Take up a suitable position in business or industry.
The choice depends largely on your personal inclination. First four choices indicated above offer good opportunity for development as a useful member of the professional and the society, ensuring amongst others, economic reward and scope for self-fulfilment. Starting one’s own industrial or business venture is also now becoming popular among Chartered Accountants. The Institute of Chartered Accountants, India currently has about 1,00,000 members, 70%of whom are in public practice and remaining are engaged in trade and industry.
Remuneration
The remuneration of a salaried CA professional in corporate sector is very high. The salary varies between Rs.25, 000 and 1.5 lakhs per annum. Individual with a CA qualification is treated the same with a person having MBA qualification in Finance.
Similarly one who runs his/her own firm can also earn handsome of money. He/she can conduct auditing works in various companies.
Institutes
The CA course is conducted through lectures and postal tuitions by the Institute of Chartered Accountants of India (ICAI), head-quartered in New Delhi.
The ICAI has five regional offices at Mumbai, Calcutta, Chennai, Kanpur, and New Delhi, with 81 branches to these regional centres.
Useful contacts
The Institute of Chartered Accountants of India (ICAI), (Website : www.icai.org ) with its headquarters in New Delhi, acts as the nodal agency in regulating the profession of the CAs as well as conducting examinations, granting certificates and exercising disciplinary control over the members. There are five Regional Councils and several branches under them. There are several chapters overseas also.
Head Office
- Northern Region- Regional Office: The Institute of Chartered Accountants of India, Indraprastha Marg, New Delhi 110052 Ph: 011-3318371, 3312055, E-Mail: Contact Us (For candidates residing in the states of Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab and Union Territory of Chandigarh)
- Central Region- Regional Office: The Institute of Chartered Accountants of India, 16/7 Civil lines, The Mall, Kanpur 208001 Ph: 0512-368642, 311048, E-mail : Contact Us (For candidates residing in the states of Uttar Pradesh, Bihar, Madhya Pradesh and Rajasthan)
- Southern region- Regional Office: The Institute of Chartered Accountants of India, 122, Mahatma Gandhi Road, Post Box No. 3314, Numgambakkam, Chennai 600034 (EPABX No: 044-39893989) E-mail: Contact Us (For candidates residing in the states of Andhra Pradesh, Kerala, Karnataka, Tamil Nadu and Union Territories of Pondicherry and Lakshadeep)
- Western Region- Regional Office: The Institute of Chartered Accountants of India, 'Anveshak', 27 Cuffe Parade, P.B.No. 6081, Colaba, Mumbai 400005 (Ph: 022-2183122/23/24/25, E-mail: Contact Us ) (For candidates residing in the states of Gujarat, Maharashtra, Goa and Union Territories of Daman & Diu and Dadra & Nagar Haveli)
- Eastern Region- Regional Office: The Institute of Chartered Accountants of India, 7 Russell Street, Kolkata 700071(Ph: 033- 290207, 290321, E-mail: Contact Us ) (For candidates residing in the states of Assam, Meghalaya, Nagaland, Orissa, West Bengal, Manipur, Tripura and Mizoram and Union Territory of Andaman & Incobar Islands)
Membership fee and Registration fee of the students is also accepted at the following offices-
1.The Institute of Chartered Accountants of India,
123 Sardar Patel Colony, P. O. Navranpura,
Ahmedabad - 380014
Telephone No.: (079) - 2768 0946, 2768 0537,
Telefax No.:(079) - 2768 0946, 2768 0537
2.The Institute of Chartered Accountants of India,
No. 16/0 Millers Tank Bed Area, Bangalore - 560 052
Tel:- (080)2205891, 2252546, 2257109, 2252546,
Telefax : (080) 2252547
3.The Institute of Chartered Accountants of India,
11-5-398/C Red Hills, Hyderabad-500 004
Tel : (040) 23317026, 23393182, 23317026,
Telefax : 91-040-2339320,
4.The Institute of Chartered Accountants of India,
Amber Chambers Vth Floor, 28/A, Budhwar Peth
Pune-411 002.
Tel: 020 - 4451636, 4489732,
Telefax: 020 - 4489732
5.The Institute of Chartered Accountants of India,
D-1 Institutional Area, Jhalana Doongri
Jaipur-302004
Tel:- (0141) 2707278, 2705396, 2707309,
INSTITUTIONS IN ANDHRA PRADESH (few of the)
1.Agarwal Siksha Samiti’s S.D. Signodia College of Arts & Commerce
Address:
Agarwal Siksha Samiti’s
S.D. Signodia College of Arts & Commerce,
Pather Gathi, Charkaman, Hyderabad - 500 002
Institution Details: Phone : 040-24520724
College offers Professional Education course-I
Course(s) Offered:
1. Professional Education Course 1 (PE 1)
Eligibility :
A Candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the Professional Education course I (PE 1)
2. Aurora's Degree College
Address:
Aurora's Degree College, Chikkadpally, Hyderabad -500 020
Contact Now: E-Mail - 1
Website: http://www.aurora.ac.in
Institution Details: Phone : 040-27661801
Fax : 040-27628593
Course(s) Offered:
1. Professional Education Course 1 (PE 1)
Eligibility :
A Candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the Professional Education course I (PE I)
2. Professional Education Course II (PE II)
Eligibility : Commerce graduates with 50% marks, non-commerce graduates with subjects other than Mathematics with an aggregate of 55% marks and non-commerce graduates with Maths with an aggregate of 60% marks are exempted from the Professional Education course I, and are permitted to register for Professional Education course II (PE II).
3. Final Course
3. Badruka Institute of Professional Studies
Address:
Badruka Institute of Professional Studies,
Badruka College Campus, Kachiguda Station Road,
Kachiguda, Hyderabad - 500 027
Institution Details: Phone : 040-4650597
Course(s) Offered: 1. Professional Education Course 1 (PE 1)
Eligibility :
A Candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the Professional Education course I (PE I)
2. Professional Education Course II (PE II)
Eligibility :
Commerce graduates with 50% marks, non-commerce graduates with subjects other than Mathematics with an aggregate of 55% marks and non-commerce graduates with Maths with an aggregate of 60% marks are exempted from the Professional Education course I, and are permitted to register for Professional Education course II (PE II).
3. Final Course
Eligibility :
After passing Professional Education Course II candidate can register for Final course.
4. Bhavan’s Vivekananda College of Science
Address:
Bhavan’s Vivekananda College of Science,Humanities and Commerce, Sainikpuri, Secunderabad - 500 094
Website: http://www.bhavansvc.org
Institution Details: Phone : 040-7111611, 7115878
Course(s) Offered: 1. Professional Education Course 1 (PE 1)
Eligibility :
A Candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the Professional Education course I (PE I)
2. Professional Education Course II (PE II)
-
3. Final Course
5. Braves Degree College
Address:
Braves Degree College,
C/o Academy of Commerce, 49-28-13,
Madhuranagar, Visakhapatnam - 530 016
Institution Details: Phone : 0891-554479, 573371
Course(s) Offered: 1. Professional Education Course 1 (PE 1)
Eligibility :
A Candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the Professional Education course I (PE I)
2. Professional Education Course II (PE II)
Eligibility :
Commerce graduates with 50% marks, non-commerce graduates with subjects other than Mathematics with an aggregate of 55% marks and non-commerce graduates with Maths with an aggregate of 60% marks are exempted from the Professional Education course I, and are permitted to register for Professional Education course II (PE II).
3. Final Course
6. Institution: Hyderabad Branch of the SIRC of I.C.A.I.
Address:
Hyderabad Branch of the Southern India Regional Council of I.C.A.I.,
11-5-398/C, Red Hills, Hyderabad - 500 004
Website: http://www.hyderabad-icai.org
Institution Details: Phone : 040-3393182
Fax : 040-3393200
Course(s) Offered: 1. Professional Education Course 1 (PE 1)
Eligibility :
A Candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the Professional Education course I (PE I)
2. Professional Education Course II (PE II)
Eligibility :
Commerce graduates with 50% marks, non-commerce graduates with subjects other than Mathematics with an aggregate of 55% marks and non-commerce graduates with Maths with an aggregate of 60% marks are exempted from the Professional Education course I, and are permitted to register for Professional Education course II (PE II).
3. Final Course
7. Institution: MNR Degree College
Address:
MNR Degree College, Bhagyanagar,
Kukatpally, Hyderabad - 500 072
Website: http://www.mnrindia.org/degree.html
Institution Details: This Institution is affiliated to Osmania University and accredited by ICAI
Phone : 040-3065897, 3065795
Course(s) Offered: 1. Professional Education Course 1 (PE 1)
Eligibility :
A Candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the Professional Education course I (PE I)
2. Professional Education Course II (PE II)
-
3. Final Course
8. Institution: Sai Sudhir Degree College
Address:
Sai Sudhir Degree College,
Main Road, Dr. A.S. Rao Nagar, Hyderabad - 500 062
Website: http://www.sai-sudhir.com
Institution Details: Affiliated to Osmania University
Phone : 040-27127302
Fax : 040-27123788
Course(s) Offered: 1. Professional Education Course 1 (PE 1)
Eligibility
A Candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the Professional Education course I (PE I)
2. Professional Education Course II (PE II)
Eligibility :
Commerce graduates with 50% marks, non-commerce graduates with subjects other than Mathematics with an aggregate of 55% marks and non-commerce graduates with Maths with an aggregate of 60% marks are exempted from the Professional Education course I, and are permitted to register for Professional Education course II (PE II).
3. Final Course
9. Institution: Sri Balaji Degree College
Address:
Sri Balaji Degree College,
D.No.39-15-2/A, Opp. Andhra Jyothi,
Vijayawada - 520 010
Institution Details: Phone : 0866-676722
Course(s) Offered: 1. Professional Education Course 1 (PE 1)
Eligibility :
A Candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the Professional Education course I (PE I)
2. Professional Education Course II (PE II)
Eligibility :
Commerce graduates with 50% marks, non-commerce graduates with subjects other than Mathematics with an aggregate of 55% marks and non-commerce graduates with Maths with an aggregate of 60% marks are exempted from the Professional Education course I, and are permitted to register for Professional Education course II (PE II).
3. Final Course
10. : Sri Chaitanya Junior Kalasala
Address:
Sri Chaitanya Junior Kalasala,
Opp. Asilmetta Bus Stop, Rama Talkies Road,
Visakhapatnam - 530 003
Institution Details: Phone : 0891-747694, 662488
Course(s) Offered: 1. Professional Education Course 1 (PE 1)
Eligibility
: A Candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the Professional Education course I (PE I)
2. Professional Education Course II (PE II)
-
3. Final Course
11: St. Joseph’s Degree & PG College
Address:
St. Joseph’s Degree & PG College,
5-9-1106, Kind Koti Road,
Near Bhartiya Vidya Bhavan, Hyderabad - 500 029
Institution Details: Phone : 040-3234860
Course(s) Offered: 1. Professional Education Course 1 (PE 1)
Eligibility :
A Candidate who has passed the Senior Secondary Examination (10+2) or waiting for the 10+2 exam results can register for the Professional Education course I (PE I)
2. Professional Education Course II (PE II)
3. Final Course
Common Proficiency Test (CA CPT) -Frequently Asked Questions
What is the Common Proficiency Test?
It is an entry level test for Chartered Accountancy Course. It is a test of four subjects i.e., Accounting, Mercantile Laws, General Economics and Quantitative Aptitude. This test is of 200 marks. This test is divided into two sessions of two hours each with a break in between. CPT is an objective type test with negative marking.
2. Who can join the course?
A student who has passed the Class 10 examination conducted by an examining body constituted by law in India or (an examination recognized by the Central Government as equivalent thereto) may register for Common Proficiency Test.
3. What is the fees for registration?
The registration and tuition fee is Rs. 1500 which is to be paid along with filled in application form.
4. How to register for CPT?
A student should register with the Board of Studies on submission of the prescribed filled in form which can be obtained from the addresses given on page 3 in Box. The form can also be downloaded from the website www.icai.org.
5. What are the subjects to be studied?
SESSION–I (Two Sections– Two hours –100 Marks)
Section A: Fundamentals of Accounting (60 Marks) (Accountancy Class 12 CD pack )
Section B: Mercantile Laws (40 Marks)
SESSION–II (Two Sections–Two hours–100 Marks )
Section C: General Economics (50 Marks) (buy Economics Class 12 CD )
Section D: Quantitative Aptitude (50 Marks)
6. Should there be any study package?
Yes. The Board of Studies provides a comprehensive study package including large question bank. The Board of Studies also provides a CD for self-assessment. Using the CD a student can get question paper set of different subjects and test his level of preparation.
7. What is the fees to be paid for undergoing oral coaching?
Fees to be charged for different modules will be fixed by the accreditation with an intimation to the Board of Studies. This will be announced on www.icai.org along with the list of accredited institutions.
8. What is the eligibility for appearing in the examination?
A registered student may appear in Common Proficiency Test after he has appeared in the Senior Secondary Examination (10+2 examination) conducted by an examining body constituted by law in India or an examination recognised by the Central Government as equivalent thereto and has complied with such requirements as may be specified by the Council from time to time.
9. How to make application for appearing in the examination?
A student has to follow the examination notification to be issued by the Examination Department of the ICAI and apply in the prescribed form along with the examination fee of Rs.300. Examination Department will announce the examination centres and issue admission card.
10. What is qualifying marks?
The qualifying marks is 50%. A student has to remember that CPT is an objective type test with a negative marking which will indicated in the question paper for selecting wrong option.
11. What is the next step after passing CPT?
After passing CPT and 10+2 standard conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto may join the Chartered Accountancy Course.
Education of Chartered Accountancy is divided into two levels:
Professional Competence Course
Final Course
There is a concurrent articled training of 3 ½ years.
After passing CPT and 10+2 standard examination as stated above, a student has to take admission to Professional Competence Course and simultaneously register for articled training. Detailed scheme of education and training of chartered accountancy is separately available in the website. Also you may procure a prospectus on payment of Rs. 100 plus courier charges of Rs. 15 for Delhi and Rs 25 for rest of India .
A student residing abroad may obtain the prospectus on payment of US $ 10 plus applicable postage charge.
12. What is the transition scheme for existing students of Professional Education (Course-I)? Can they join CPT?
Yes. All students of Professional Education (Course-I) can switch over to Common Proficiency Test (CPT). They have to apply in
the prescribed format to the appropriate Regional office of the Institute given in Box. They have to remit Rs.100 along with the filled in application form. The Board of Studies will send them study package free of cost for CPT. All such students are entitled to appear CPT examination proposed to be held on November, 2006.
There will be a facility for online application and remittance of fees. If an existing student of Professional Education (Course-I) is well prepared for appearing in Professional Education (Examination-I) what should he do?
All such students who intend to continue Professional Education
(Course-I) may appear in PE (Examination-I). The last PE (Examination-I) will be held in November 2007. This means such a student will get three attempts, i.e., November 2006, May 2007 and November 2007.
15. Can an existing Professional Education (Course-I) student switch over to CPT subsequently, i.e., any time after appearing Professional Education (Examination-I) to be held on November 2006, May 2007 and November 2007?
Yes. An existing Professional Education (Course-I) student can join CPT as per his choice after exhausting all available attempts of examinations or any time after the commencement of registration for CPT. He has to just indicate in the prescribed application form that he wants to switch over to CPT. He has to remit Rs.100 along with filled in application form.
Students may go through Transition Scheme, separately available under BOS announcement in the website.
Syllabus for Common Proficiency Test (CA CPT)
Syllabus For Common Proficiency Test (CPT)
(One paper – Four hours – 200 Marks)
Level of Knowledge: Basic knowledge
SESSION – I
(Two Sections– Two hours – 100 Marks)
Section A : Fundamentals of Accounting ( 60 Marks )
Objective
To develop conceptual understanding of the fundamentals of financial accounting system.
1. Theoretical Framework
(i) Meaning and Scope of accounting
(ii) Accounting Concepts, Principles and Conventions
(iii) Accounting Standards – concepts, objectives, benefits
(iv) Accounting Policies
(v) Accounting as a measurement discipline – valuation principles, accounting estimates
2. Accounting Process
Books of Accounts leading to the preparation of Trial Balance, Capital and revenue expenditures,
Capital and revenue receipts, Contingent assets and contingent liabilities, Fundamental errors
including rectifications thereof.
3. Bank Reconciliation Statement
4. Inventories
Basis of inventory valuation and record keeping.
5. Depreciation accounting
Methods, computation and accounting treatment of depreciation, Change in depreciation
methods.
6. Preparation of Final Accounts for Sole Proprietors
7. Accounting for Special Transactions
(a) Consignments
(b) Joint Ventures
(c) Bills of exchange and promissory notes
(d) Sale of goods on approval or return basis.
8. Partnership Accounts
Final accounts of partnership firms – Basic concepts of admission, retirement and death of a
partner including treatment of goodwill.
9. Introduction to Company Accounts
Issue of shares and debentures, forfeiture of shares, re-issue of forfeited shares, redemption of
preference shares.
Section B : Mercantile Laws ( 40 Marks )
Objective
To test the general comprehension of elements of mercantile law
Contents
1. The Indian Contract Act , 1872: An overview of Sections 1 to 75 covering the general nature of
contract , consideration , other essential elements of a valid contract , performance of contract
and breach of contract.
2. The Sale of Goods Act, 1930: Formation of the contract of sale – Conditions and Warranties –
Transfer of ownership and delivery of goods – Unpaid seller and his rights.
3. The India Partnership Act, 1932: General Nature of Partnership – Rights and duties of partners –
Registration and dissolution of a firm.
SESSION – II
(Two Sections– Two hours – 100 Marks)
Section C : General Economics ( 50 Marks )
Objective
To ensure basic understanding of economic systems, economic behaviour of individuals and
organizations.
Contents
(I) Micro Economics
1. Introduction to Micro Economics
(a) Definition, scope and nature of Economics
(b) Methods of economic study
(c) Central problems of an economy and Production possibilities curve.
2. Theory of Demand and Supply
(a) Meaning and determinants of demand, Law of demand and Elasticity of demand ─
Price, income and cross elasticity
(b) Theory of consumer ’s behaviour – Marshallian approach and Indifference curve
approach
(c) Meaning and determinants of supply, Law of supply and Elasticity of supply.
3. Theory of Production and Cost
(a) Meaning and Factors of production
(b) Laws of Production – The Law of variable proportions and Laws of returns to scale
(c) Concepts of Costs ─ Short-run and long-run costs, Average and marginal costs, Total,
fixed and variable costs.
4. Price Determination in Different Markets
(a) Various forms of markets – Perfect Competition, Monopoly, Monopolistic Competition
and Oligopoly
(b) Price determination in these markets.
(II) Indian Economic Development
5. Indian Economy – A Profile
(a) Nature of the Indian Economy
(b) Role of different sectors – Agriculture, Industry and Services in the development of the
Indian economy, their problems and growth
(c) National Income of India – Concepts of national income, Different methods of
measuring national income, Growth of national income and per capita income in
various plans.
(d) Basic understanding of tax system of India – Direct and Indirect Taxation
6. Select Aspects of Indian Economy
(a) Population – Its size, rate of growth and its implication for growth
(b) Poverty – Absolute and relative poverty and main programs for poverty alleviation
(c) Unemployment – Types, causes and incidence of unemployment
(d) Infrastructure ─ Energy, Transportation, Communication, Health and Education
(e) Inflation
(f) Budget and Fiscal deficits
(g) Balance of payments
(h) External debts.
7. Economic Reforms in India
(a) Features of economic reforms since 1991
(b) Liberalisation, Privatisation and Disinvestment
(c) Globalisation.
8. Money and Banking
(a) Money – Meaning and functions
(b) Commercial Banks – Role and functions
(c) Reserve Bank of India – Role and functions, Monetary policy.
Section D : Quantitative Aptitude ( 50 Marks )
Objective
To test the grasp of elementary concepts in Mathematics and Statistics and application of the same as
useful quantitative tools.
1. Ratio and proportion, Indices, Logarithms
2. Equations
Linear – simultaneous linear equations up to three variables, quadratic and cubic equations in one
variable, equations of a straight line, intersection of straight lines, graphical solution to linear
equations.
3. Inequalities
Graphs of inequalities in two variables ─ common region.
4. Simple and Compound Interest including annuity ─ Applications
5. Basic concepts of Permutations and Combinations
6. Sequence and Series – Arithmetic and geometric progressions
7. Sets, Functions and Relations
8. Limits and Continuity ─ Intuitive Approach
9. Basic concepts of Differential and Integral Calculus (excluding trigonometric functions)
10. Statistical description of data
(a) Textual, Tabular & Diagrammatic representation of data.
(b) Frequency Distribution.
(c) Graphical representation of frequency distribution – Histogram, Frequency Polygon, Ogive
11. Measures of Central Tendency and Dispersion
Arithmetic Mean, Median – Partition Values, Mode, Geometric Mean and Harmonic, Mean,
Standard deviation, Quartile deviation
12. Correlation and Regression
13. Probability and Expected Value by Mathematical Expectation
14. Theoretical Distributions
Binomial, Poisson and Normal.
15. Sampling Theory
Basic Principles of sampling theory , Comparison between sample survey and complete
enumeration , Errors in sample survey , Some important terms associated with sampling , Types
of sampling , Theory of estimation , Determination of sample size .
16. Index Numbers
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