CA-CPT

CA (Chartered Accountant) is considered one of the best career paths and has been pursued by the students who find themselves comfortable at numbers. I would really like to talk on this topic and discuss the things in detail in terms of what it comprises of, what are all the all steps to reach the final stage and pass the CA Final successfully and how to maintain tempo and be persistence in the study and reach your dream goal.

ICAI, The Institute of Chartered Accountants of India, is the institute which is overall responsible for and conducts the process and finally award and certify the candidates as a Chartered Accountant (CA) after candidates successfully complete the course. You know, even the rate of registration for CPT is higher, the actual number of successful candidates passing the final CA Final is much less.

Dear Aspirant, any career path is not that much difficult or impossible so is not the CA if followed the right ways going by the right approach, having right guidance in time and being persistent throughout your preparation for the CA. To approach the CareerGuide for your query related to CA Course is actually a good start and be assured of the right advice. What you need to do is just read this article very carefully and you will come to understand the very process required to complete the CA successfully

The CA Course has four Levels in total

• CPT (Common Proficiency Test)
• IPCC/IPCE (Integrated Professional Competence Course)
• Three years of Articleship under any C.A who is practicing the profession
• CA Final Exam

As mentioned above it has become very clear that the overall process run through the four stages and generally one would go by the sequence as stated above to reach the final stage and become a CA eventually successfully. Apart from this one general route for which any 12th appearing student can register and pass the CPT to get enrolled for the IPCC, there is an another route also where the candidates will be exempted from the CPT and can directly go to the IPCC. The intermediate passed students of the institute of cost accountant of India and the institute of Company secretaries of India and the graduate students can directly register for the IPCC. Here we will talk about the generally followed process which is no other than but the CPT route. 

Registration for the CPT (Common Proficiency Test):

First step is to register for CPT with the Institute of Chartered Accountants of India (ICAI) after passing 10th Standard examination.

Pass the CPT(Common Proficiency Test):

Take CPT examination after you appear in the 12th exam and after completion of period of 60 days from the date of registration for CPT.

Registration of the IPCC level:

IPCC – Integrated Professional Competence Course would be the next stage after p[assing the CPT and 12th Level. Passing the CPT and 12th exam is mandatory without wich one would not able to register for IPCC. Generally, the registration for the IPCC must be done well in advance that is before 9 months of the IPCC exam.

• IPCC level contains total 7 papers (Group 1+ Group 2).
• Group – 1 – four papers
• Group – 2 – is composed of three papers.
• Passing the Group – I, is necessary for commencing an Articleship.

 

ITT (Information Technology Training) and Orientation Course:

Candidates need to complete 100 hours Information Technology Training (ITT). Before registering for Articleship, Orientation and ITT should be completed. The Orientation Course of one week which is a 35 hours of length and covers topics, such as, communication skills, personality development, business environment, office procedure, general knowledge of commercial aspects, etc.

(Note: You have the flexibility to complete ITT and Orientation course at any time before registering for an Articleship)

Register for IPCC and pass the Group I Exam:

Candidates can appear and pass the Group – 1 or Both Groups of IPCE – Integrated Professional Competence Examination.

Appear for and pass the Group II Exam:

After passing the Group 1, candidates can appear for Group 2 in next attempt after Group 1 attempt or during Articleship.

 

(Note:- Candidates can register for the Articleship after passing the only Group 1 also)

Registration for the Articleship:

Articleship is important and is a part of the overall process. Candidates need to register as Articled Assistant for a period of 3 years with a practicing CA after passing either Group – 1 or both the Groups of IPCE.

Registeration for the C.A Final Course:

Here is what we can term it the final stage of this time driven process. This is a Final CA exam and you need to register for C.A Final Course after passing both the groups of IPCC.

Pass the CA Final Exam:

During the last 6 months of 3 years of articled training you have to register and pass the CA Final. Candidates are supposed to pass the group 1 and 2 of the CA Final to complete the process successfully.

Do complete the Articleship:

Articled Training of 3 years of the period must be completed within given time frame.

GMCS (General Management and Communication Skills) Course:

15 days Course on General Management and Communication Skills is one of the stages in this process and this should also be completed in given time.

Membership of ICAI and becoming a CA:

Duration of the Course:

Normally, it would take 4.5 Years for CPT route and 3 years for the graduation route where candidates are exempted from the CPT route and can directly enroll for IPCC.

Preparing CPT Exam in  after completing the board exams of 12th is not an easy task for students. But don’t take stress because we are here to give you some quick and simple CA CPT exam tips for cracking. As well as, how will you enhance your memory and concentration power in given time? I hope this information will be useful for those aspirants who want to clarify this entrance.

1. Desired Skill

If you have the following personal traits; you can always feel yourself above the “Average” category of students and clear the CPT of CA examination. These are…

• Attitude to learn new subjects;
• Academic Skills that needs to read a subject comprehensively and effectively;
• Perceptiveness to comprehend the right meaning of a subject matter;
• Self-discipline for right management of time;
• Ability to apply the acquired knowledge for achieving a goal; and
• Comprehending rather than memorizing the concepts.

2. Step-by- Step Approach

When you take up your preparation for a particular subject, begin with clearing the fundamental concepts. Then, improve your skills for reading and comprehending, followed by rigorous practice as per a well-prepared Study Schedule. After making clear conception about a subject matter, take up the model MCQs for practice.

When you have any doubt, you can refer back to the theory and choose the right answer.

3. Focus on Study Materials

Besides going through the study materials of ICAI, the study materials provided by a CA Coaching Institute make you versed with the latest trend of the questions and their answers. Give equal weight to all papers.

Make your own notes and solve the past years questions. From the scanner, you can find that 20 to 30 percent marks are put to test your Intelligence Quotient (IQ) which is rarely repeated.

4. Self Study & Coaching Institute

Both have their own advantages. Self-study boost your self-confidence while most students prefer CA Coaching Institute for the preparation of their CA examination for CPT, because they get pre-tested study materials prepared by professional and experienced faculties. Besides, you get guidance from seniors and can develop a competitive spirit, observing the performance of your batch mates.

5. Revision

Rigorous revisions enable you for transformation of acquired knowledge into marks in your examination. One revision at the end of a week for the studies covered during the current week will be most effective for minting marks.

And if you can attempt new problems with the new knowledge, it will bring bonus marks for you in your CA examination in CPT.

CPT ELIGIBILITY CRITERIA

• Candidates passed in 10+2 standard examination or equivalent examination from any state or national level Board of Education
• Candidates registered with the Board of Studies to appear in the CPT after appearing in the Class 10+2 examination
• Candidates passed B.Com, M.Com, LLB, ICWA, CS or MBA in their first attempt are also eligible to appear CA CPT
• Candidates appeared/ is appearing in the final year of the qualifying exam, are also eligible to appear in CA CPT.

CA CPT Maths Notes

ICAI conducts CPT exams (Common Proficiency Test) twice in a year in the month of June and December. All eligible and appearing candidates who are planning to appear in  CPT Exam they can download CA CPT Maths Notes in PDF format for the preparation of the entrance test. It is very important for all appearing candidates to have the exact CPT exam syllabus.

There are four subjects in CPT portion i.e. Fundamentals of Accounting, Mercantile Law, General Economics and Quantitative Aptitude. The candidate is required to secure a minimum of 30 Percent marks in maths subject to pass Common Proficiency Test. 

Subjects in New CA CPT/Foundation Course

Paper I: Principles and Practices of Accounting (100 Marks)

Paper 2: Mercantile Law & General English (100 Marks)

• Part I: Mercantile Law (60 Marks)
• Part II: General English (40 Marks)

Paper 3*: Business Mathematics and Logical Reasoning & Statistics (100 Marks)

• Part I: Business Mathematics and Logical Reasoning (60 Marks)
• Part II: Statistics (40 Marks)

Paper 4*: Business Economics & Business and Commercial Knowledge (100 Marks)

• Part I: Business Economics (60 Marks)
• Part II: Business Commercial Knowledge and (40 Marks)

*Paper 3 and Paper 4 will be Objective type papers.