CA CPT

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COMMON PROFICIENCY TEST

The ICAI popularly known as Institute of Chartered Accountants of India is one of the topmost institutions or governing body. It was established in the month of July in the year 1949 under the CA Act, year 1949, (Act No. XXXVIII of 1949). This Act was formulated by the then Government to exercise considerable control over the accounting profession especially under the purview of Chartered Accountancy. ICAI conducts CPT (Common Proficiency Test) which is also known as CPC, two times in a year. The first attempt falls in the month of June and the next attempt falls in the month of December. Though the unconfirmed news is there that new syllabus and exam pattern will be followed from December onwards but for the time being herein, I am sharing the current pattern.

 

The CPT exam is divided into two sections

 

The first section has Accountancy for 60 marks and Mercantile Law for 40 marks

The second section has General Economics and Quantitative Aptitude (Maths) both 50 marks each.

Those students who didn’t pursue CPT after class 12th exam can directly qualify for the IPCC level of CA course if they are Graduates/ Post Graduates in Commerce and have scored a minimum of 55% as aggregate or its equivalent grade by studying any three papers from the list:-

Accounting

Auditing

Mercantile Laws

Corporate Laws

Economics

Management

Financial Management

Taxation (DT & IDT laws)

Costing

Business Administration or Management

 

The various subjects covered in IPC Course are bifurcated into two groups

Group 1 has the following papers (In bracket marks are given):-

Paper 1: Accounting (100)

 

Paper 2: Business Laws, Ethics and Communication (100)

Part I: Business Laws (60 ) which covers Business Laws (30 ) and Company Law (30 )

Part II: Ethics (20 )

Part III: Communication (20 )

 

Paper 3: Cost Accounting and Financial Management (100 )

Part I: Cost Accounting (50 )

Part II: Financial Management (50 )

 

Paper 4: Taxation (100 )

Part I: Income-tax (50 )

Part II: Indirect Taxes (50 )

 

Group II

Paper 5: Advanced Accounting (100 )

Paper 6: Auditing and Assurance (100 )

Paper 7: Information Technology and Strategic Management (100 )

Section A: Information Technology (50 )

Section B: Strategic Management (50 )

 

A separate 100 Hours training related with computer knowledge & skills is also to be undertaken by the students which are known as Information Technology Training (ITT). A student has to pay around Rs. 5000 separately & directly to the Institute where she joins for this training. Under this training usually, the student attends 3-6 hours classes for 40 days and cover a number of modules related to Excel, database, software like Tally, E-filling of returns etc.

Those students who apply for ATC (Accounts Technician Course) are required to complete ITT first and then appear in the Accounting Technician Examinations (ATE). Regional Councils and Branches of the ICAI carry out this ITT training and it is chargeable as mentioned earlier also.

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