CA (Chartered Accountants)
CA or the Chartered Accountants are the professionals who come under the regulation of the Institute of Chartered Accountants of India (ICAI). The ICAI is the statutory body which is established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949). Such is the name and fame of the ICAI that it is the most recognized premier accounting body not only in the country but also in the world. It has contributed a large in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. ICAI now stands as the second largest accounting body in the whole world.
The Examination System
The Examination System of the CA is regulated by the Examination Department of the Institute of Chartered Accountants of India, which conducts the examination at different levels of the Chartered Accountancy course, in accordance with the regulations of Chartered Accountants 1988.
The examination system is based on the following pattern:
1) Common Proficiency Test (CPT)
2) Intermediate (Integrated Professional Competence) Examination
3) Final Examination
All the examinations are covered twice a year. These examinations are held in the month of May and November each year. CPT is held each year in the month of June and December. The final Examination is held once in a year and is held in the month of May.
The Examination in 2014
The Examination of the Common Proficiency Test will be held in the month of December on 14th of the year and will be held in two sessions. There are around 162 centres for the Examination, which will be held the Examinations in the Country. There are around 5 centres aboard which will also be seeing the examinations. The centres like
1.) ABU DHABI
5.) KATHMANDU, are those overseas centers.
Eligibility of the Examination
The candidates who have passed the 10th examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent can register for the Common Proficiency Test (CPT) of the CA programme. There is no minimum eligibility marks required to obtain in the 10th Examination.
The Commerce graduates having 50% marks and non-commerce graduates with subjects other than Mathematics with an aggregate of 55% marks and non-commerce graduates with Mathematics with an aggregate of 60% marks are excluded from the Common Proficiency Test (CPT) and are permitted to register for Integrated Professional Competence Course (IPCC).
While the Candidates who have passed the Final Examination conducted by the Institute of Cost & Works Accountants of India (ICWAI) or the Institute of Company Secretaries of India or ICSI can register for Professional Competency Course.
Syllabus of the Examination
Stage 1-Common Proficiency Test
The Syllabus for the CPT can be described below:
The Paper consists of One Paper with Two Sessions. The total marks are 200. In the Session 1, there are two sections as Section A and Section B.
Section A contains the Fundamentals of Accounting which comprises of 60 Marks.
Section B contains the Mercantile Laws Comprising of 40 Marks.
In the Session 2, there are two sections as Section C and Section D.
Section C includes the General Economics having the weight age of 50 Marks.
Section D contains the Quantitative Aptitude having 50 Marks.
While in the Paper of IPCC – Intermediate (Integrated Professional Competence) Course, there are Seven Papers of study in Intermediate (IPC) Course which are divided into 2 groups each.
In Group 1, there are 4 papers and the details are given as below:
Paper 1: Accounting comprising of 100 marks.
Paper 2: Business Laws, Ethics and Communication comprising of 100 marks
Paper 3: Cost Accounting and Financial Management Comprising of 100 marks
Paper 4: Taxation containing the weight age of 100 marks
In group 2, the three Papers are included whose details are as follows:
Paper 5: Advanced Accounting consisting of 100 marks
Paper 6: Auditing and Assurance (100 marks)
Paper 7: Information Technology and Strategic Management which comprise of 100 marks
Stage 3-Final Examination
The Final Examination is the last one for a candidate to be a CA. The detailed pattern of the Final examination is mentioned below:
There are two groups, namely ‘Group I’ and ‘Group 2’ in the final examination.
The Group 1 contains
Paper 1 which Financial Reporting (100 Marks)
Paper 2 which includes the Strategic Financial Management (100 Marks)
Paper 3 which includes Advanced Auditing and Professional Ethics (100 Marks)
Paper 4 containing Corporate and Allied Laws (100 Marks)
While the Group 2 contains the following pattern,
Paper 5 which contains Advanced Management Accounting (100 Marks)
Paper 6 containing an Information Systems Control and Audit (100 Marks)
Paper 7 containing Direct Tax Laws (100 Marks)
Paper 8 which includes Indirect Tax Laws (100 Marks)
The CA is one of the most hard laboured exams in the country.Just be prepared for the hard labour.