Profession of Chartered Accountancy Chartered Accountancy is a challenging profession that offers practice or job opportunities in the areas of accounting,

auditing, corporate finance, project evaluation, and 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. About the Institute The Institute of Chartered Accountants of India (ICAI) is a premier professional accountancy body of the country, established in July, 1949 under the Chartered Accountants Act, 1949, enacted by the Parliament to regulate the profession of Chartered Accountancy in India.The Institute is governed by a Council in accordance with provisions of the Chartered Accountants Act, 1949 as amended by the Chartered Accountants (Amendment) Act, 2006 (No.9 of 2006) and the Chartered Accountants Regulations, 1988. The Council consists of 40 members of whom 32 are elected from among the members of the Institute and 8 are nominated by the Government of India.Institute has its headquarters at New Delhi. In addition, it has five Regional Councils located in Mumbai, Chennai, Kolkata, Kanpur and New Delhi and 117 Branches spread all over the country. The Institute has also 20 Chapters outside India located in Abu Dhabi, Bahrain, Botswana, Doha, Dubai, Indonesia, Jeddah, Kuwait, London, Melbourne, Muscat, Nairobi, New York, Nigeria, Port Moresby, Riyadh, Saudi Arabia, Sydney, Toronto and Zambia.The Institute is actively engaged in imparting education and training to the students and conducts examinations for them and grants membership to successful candidates and certificates of practice to members intending to practice the examination.Board of Studies of the Institute imparts theoretical education to students of the chartered accountancy course as well as to the students who prepare for entry level test called Common Proficiency Test.

Requirements to become a Chartered Accountant Under the existing chartered accountancy scheme of education, training and examination, the requirements for becoming a chartered accountant are as follows: Enrol with the Institute for Common Proficiency Test (CPT) after passing class 10th examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto. Appear in CPT after appearing in the senior secondary examination (10+2 examination) conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto and after completion of specified period (60 days) from the date of registration for CPT with the Board of Studies as on the first day of the month in which examination is to be held, viz., students registered on or before 1st April/1st October will be eligible to appear in June/December examination, as the case may be. However, candidate should pass both CPT and 10+2 before registering for Integrated Professional Competence Course (IPCC). Enrol for Group I or Group II or for both Group I and Group II of Integrated Professional Competence Course (IPCC) to become "Chartered Accountant. Successfully complete 9 months of study course from the date of IPCC registration. Successfully complete Orientation Course of one week spanning 35 hours and covering topics, such as personality development, communication skills, office procedure, business environment, general commercial knowledge, etc., before commencement of articled training. Successfully complete 100 hours Information Technology Training (ITT) before commencement of articled training. Appear and pass Group I as well as Group II of Integrated Professional Competence Examination (IPCE). Group I is composed of four papers and Group II is composed of three papers. Register as Articled Assistant for a period of 3 years, on passing either Group I or both the Groups of IPCE. Register for CA Final Course and prepare for CA Final Examination.

Undergo General Management and Communication Skills (GMCS) (15 days) course while undergoing Final Course and serving the last 12 months of articled training. Complete 3 years period of articled training. Appear in the Final Examination on completion of the practical training or while serving last 6 months of articled training on or before the last day of the month preceding the month in which the examination is to be held. Pass final examination and complete GMCS, if not completed earlier. Enrol as a member of ICAI and designate as "Chartered Accountant.

CA Course Structure The Institute of Chartered Accountants of India periodically reviews the scheme of Education and Training to remain in tandem with developments in the field of education and other changes at national and global level. Evolving business also demands newer skills from the accounting professionals. Accordingly, the existing scheme was revamped and the new scheme was launched on 10th December, 2008. Different levels of Chartered Accountancy Course 1. Entry Level Test Common Proficiency Test 2. First Stage of Theoretical Integrated Professional Competence Education Course 3. Final Stage of Theoretical Final Course Education The Entry level test is named as Common Proficiency Test (CPT) which is designed in the pattern of entry level test for engineering, medical and other professional courses. It is a test of 4 hours duration comprising of two sessions of 2 hours each, with a break between two sessions. The test comprises of objective type questions only with negative marking for choosing wrong options. The Common Proficiency Test (CPT) has replaced Professional Education (Course-I) effective from September 13, 2006. The last Professional Education (Examination I) was held in November, 2007.

The Integrated Professional Competence Course (IPCC) with an upgraded syllabus has replaced the Professional Competence Course (PCC) effective from December 10, 2008. The last PCC examination will be held in November, 2012. The last leg of the Chartered Accountancy is Final Course, designed to impart expert knowledge in financial reporting, auditing and professional ethics, taxation, corporate laws, system control, strategic finance and advanced management accountancy. The Final (New) Course was launched in February 2007 and first examination under new scheme was held in November, 2008. The last Final (Old) Course examination will be held in November, 2010. Updated syllabus is benchmarked to chartered accountancy courses available around the globe and is fully compliant to International Education Standards issued by the International Federation of Accountants. Under the present scheme the period of articled training is three years. New upgraded 100 Hours of Information Technology Training replaced 250 Hours Compulsory Computer Training in December, 2006. Role played by a Chartered Accountant: Chartered Accountancy Course offers the students a dream career in the specialized areas of Accounting, Auditing, Corporate Finance, Corporate Laws, Taxation. Chartered Accountants are highly demanded professionals in industry. Chartered Accountants are statutorily recognized audit practitioners. Chartered Accountants are highly demanded and sought-after professionals in the practice of Income-tax, Service-tax and other indirect tax areas. Chartered Accountants are technically equipped to act as management consultants. Chartered Accountants possess adequate knowledge in systems and information technology, which help to excel in the areas such as development of advanced IT systems for the organisations including for the functions of finance and accounting.

Independent Professional Practices: As practitioners of public accounting, CAs may start Professional practice as a proprietor or join any existing firm as a partner or staff member. A CA provides compliance and review services. A CA also acts as a business advisor by providing all kinds of services including the preparation of financial reports, helping the business to secure loans, preparing financial projections and determining the viability of business. As a tax advisor, a CA helps businesses and individuals to comply with tax laws. Management Consultancy Services: CAs play a vital role in assisting business and industry to improve the use of their resources increase their efficiency and achieve their objectives. The breadth of management advisory services rendered by CAs reflects their expertise in diverse areas. Such services include financial management, planning and financial policy determination such as

Preparation of project reports and feasibility studies Market research and demand studies Budgeting, inventory management, working capital management Business policy, corporate planning, organization development, growth and diversification Organisation structure and behaviour, development of human resources Systems analysis and design, and computer related services Advisor or consultant to capital issue Investment counselling in respect of securities Corporate Governance

Opt for Industry / Government Organisation A CA may prefer to join an industry or governmental department and ultimately hold responsible positions. Many Chartered Accountants hold responsible positions in business or industrial firms as CEOs, Managing Directors, Director (Finance) and Chief Accountants The average salary works out to be about Rs. 6 lakhs per annum. Major details are as below:

Salary Range Rs. 9,00,000 and above Rs. 7,50,000 to Rs.8,99,000 Rs. 5,00,000 to Rs.7,49,000 Rs. 3,50,000 to Rs.4,99,000 Total

No. Of Candidates 70 97 737 363 1267

Top Recruiters during the February-March-April 2008 Campus Interviews: S.No 1 2 3 4 5 6 Company Name ICICI Bank Deloitte RIL Vedanta Infosys Technologies Ltd Tata Consultancy Services Selected 135 90 77 72 61 58

Top Ten Remunerations offered during the February-March-April, 2008 Campus Interviews S.No. 1. 2. 3(a). 3(b). 4. 5. 6. 7. 8. 9. 10(a). Company Name Qatar Insurance company ABN AMRO Sharaf Shipping Nestle ITC RAK Ceramics Sunrise & Co. (PTE) Ltd. ETA Escon Group Of Companies KEC Ltd. ICICI Bank S.R Batliboi & Associates Remuneration Offered (Rs. In Lacs p.a) 16.17(International Posting) 12.00 11.02(International Posting) 11.00 10.62 10.50(International Posting) 10.00 9.72(International Posting) 9.50 8.34 8.00

Additional Instructions and Other Facilities: As per ICAI ISSUE In addition to the study materials covering the different subjects, the Board of Studies also prepares for the benefit of the student, Revision test Papers containing model questions and answers, pre-examination notes on relevant subjects covering latest development. Suggested Answers Volumes for the various for the various Examinations held by the Institute, subject-wise compilation of questions and answers in selected subjects and such other useful materials. Further, the Institute organizes class room instruction facilities by way of recessional / intensive classes for students at the Institute's headquarters as well as at Regional Centers and certain selected Branches. In addition, Institutions specifically accredited by the Board of Studies for the students for the students of Professional Education Course (I&II) also organize such classes as per the Board's guidelines. Attending such oral coaching classes helps a student in understanding and grasping the different subjects easily. The Institute has good Library facilities at the Headquarters, Regional Offices as well as Branches of the Regional Councils catering to the needs of the students. The monthly journal published by the Institute "The Chartered Accountant" is available to the students at a concessional rate. In addition the Board of Studies also publishes a monthly Newsletter for students. "The Chartered Accountant Student" where articles relevant to the students on various aspects of different subjects covered by the syllabus, relevant circulars / notifications, academic updates, etc. are published. This newsletter is supplied freely to all articled / audit clerks during the period of their training and it is also supplied to Foundation / Professional Education Course students for a period of one year. After the expiry of free period students can also subscribe to the newsletter by sending a demand draft of Rs. 60 in favor of "The Secretary, The Institute of Chartered Accountants of India" to the Director of Studies, C-1, Sector-1 NOIDA 201 301. Students should cultivate the habit of going through the Newsletter / Journal regularly. PROCEDURE FOR OBTAINING DUPLICATE MARK SHEET/S ......Issued By ICAI You are required to provide a request duly signed by you for issue of duplicate mark sheet/s E-mails are not entertained for issue of duplicate mark sheet/s.

You are required to furnish the following details / documents along with your request Copy/ies of mark sheet/s for which you require duplicate mark sheet/s (if available), which will help us to process your request speedily. In case, you are not in a position to send copy/ies of your Mark sheet/s, please furnish your correct Articles Registration Number, Month & Year of appearance and Roll Number for which you require duplicate mark sheet/s. A fee of Rs.10/- (Rupees ten only) per duplicate mark sheet should be remitted through Demand Draft in favour of the Secretary, The Institute of Chartered Accountants of India, payable at New Delhi - 110002. In case you have not received your mark statement within reasonable time (say 6 weeks of the declaration of result) and send a request for duplicate mark statement within two months of the declaration of result, you are not required to pay any fee Your complete postal address for correspondence, telephone number, fax number, etc. If you furnish a copy of mark statement or correct articles registration number, Month & Year of appearance and roll number, the duplicate mark sheets are issued normally within twenty days of receipt of your request complete in all respects. FOR CORRECTION IN NAME In case, if you find any mistake in your name in the mark sheets sent by the Institute, kindly send your original mark sheet for correction in name together with supportive document i.e. copy of Student Registration letter issued by the respective Decentralised Office of the Institute. It may be noted that the name of a candidate will be shown in the same manner as it appears in Foundation/PE I or PE II / Articles Registration Letter issued by the concerned Decentralised Office of the Institute. Kindly note that we will take your name as per ICAI records only The transcripts are issued normally within ten days from the date of receipt of request, complete in all respects. All these requests along with the requisite fees / documents may please be sent to:

Shri G. Somasekhar Sr. Jt. Secretary - (Exams) The Institute of Chartered Accountants of India Post Box No.7112, Indraprastha Marg, New Delhi-110002 Email-Id:- examhelpline@icai.org Tel. Ph.:- 0120-3054836

COMMON PROFICIENCY TEST SYLLABUS One Paper, Two Sessions 200 Marks Session I: Section A: Fundamentals of Accounting 60 Marks Section B: Mercantile Laws 40 Marks

Session II: Section C: General Economics 50 Marks Section D: Quantitative Aptitude 50 Marks

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. Contents 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. Contents 1. Ratio and proportion, Indices, Logarithms 2. Equations Linear simultaneous linear equations up to three variables, quadratic and cubic equations in onevariable, 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 Approach5 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 ofestimation , Determination of sample size .

16. Index Numbers

Common Proficiency Test (CPT) About the Test Common Proficiency Test is an entry level test for Chartered Acc ountancy Course. A student who has passed higher qualifications than

10th class such as B.Com, M.Com, LL.B., ICWA, CS, MBA is also, supposed, to appear and pass CPT Examination to join the Chartered Accountancy Course. It comprises of four subjects i.e., Accounting, Mercantile Laws, General Economics and Quantitative Aptitude. The Common Proficiency Test (CPT) is of 200 marks. This test is divided into two sessions of two hours each. CPT is an objective type test with negative marking. Subjects covered in CPT SESSION I (Two Sections Two hours 100 Marks) Section A: Fundamentals of Accounting ( 60 Marks ) Section B: Mercantile Laws ( 40 Marks ) SESSION II (Two Sections Two hours 100 Marks) Section C: General Economics ( 50 Marks ) Section D: Quantitative Aptitude ( 50 Marks ) The Board of Studies has prepared comprehensive study materials along with Model Test Papers, covering all four subjects.

FREE RESOURCES FOR CA CPT COACHING LOG ON TO: www.cashiksha.com for free CPT coaching online. You can find Presentations, Online Quiz, Revision Material Absolutely Free provided by ICAI ALSO LOG ON TO http://www.icai.org/post.html?post_id=4789for more clear subject Knowledge. It's the GYANDARSHAN. ANOTHER FREE RESOURCE BY BOARD This is notified to students after scheduling the time table by board and message sent to contact numbers.I will also place it in sitenews when notified.Generally thetimetable is given for the classes 2 or 3 months before the Exam to access free classes on Gyan darshan with special timing for each

subject.Students can ask their queries during studio timing at toll free no 1800-11-2345 or can e-mail board at bosgyandarshan @ icai.org. Students can view the LIVE TELECAST also on www.ignou.ac.in (First load VLC from www.videolan.org & click as per instructions, open www.ignou.ac.in & click Education Broadcast & then click Broadcast channel & then select gyandarshan II/ edusat & click to view. CHECK OUT THE HELP SITES FOR CA FOR MORE FREE KNOWLEDGE RESOURCES.

DOWNLOAD THE FOLLOWING FOR FREE ECONOMICS CLICK HERE TO DOWNLOAD. NOTES OF MICRO ECONOMICS CLICK HERE TO DOWNLOAD.NOTES OF MACRO ECONOMICS. CLICK HERE TO DOWNLOAD.MERCANTILE LAWS NOTES CLICK HERE TO DOWNLOAD.STATISTICS NOTES CLICK HERE TO DOWNLOAD.MTP BY BOARD PREVIOUS PAPERS. CLICK HERE TO DOWNLOAD 2009 Dec. CLICK HERE TO DOWNLOAD 2010 June CLICK HERE TO DOWNLOAD 2010 Dec CLICK HERE TO DOWNLOAD 2011 June ACCOUNTANTS HAND BOOK CLICK HERE TO DOWNLOAD. IT IS USEFUL FOR EASY REFERENCE.

MY EXPERIENCE HOW TO PREPARE FOR CPT? Goto the link : http://www.cashiksha.com/ register as a member and you can access basic CA classes for free.It helps you a lot. Goto link : http://www.icai.org/post.html?post_id=4789 . You can find even more clarification in the subject through the Gyandarshan. Read the board text book thoroughly. Nothing comes out of text book. Keep a pen and paper aside and note down all the important points. Compulsorily solve all the example problems, example problems, bits in the text book.30-40% bits are from textbook of similar problems. Solve the MTP Cover Book downloaded from above in this site or you can get it through board. Solving this is more important than the test papers provided along with text books. I observed that MTP covers the bits repeated in the examinations. Next see through the memorized questions of Past papers provided in the site. Also go through the material provided above. Practice test papers given along with text books following the time pattern of examination.