CPT exemption

It’s official that now graduate and post graduate can directly enter the CA course. The commerce graduate should have a minimum of 50% marks for exemption and others should have 60% marks in their gradation or post graduation. Similarly CS or ICWA inter pass students are also exempted from CPT.

Other conditions:

1. Should have completed at least 9 months of practical training before appearing for Intermediate exams

2. Should have complete the Information technology or computer training before appearing for the Inter Exams

<< click to read the notification >>

Read More

7:50 AM | 0 comments

Review of Entry Requirements for Chartered Accountancy Courses

Review of Entry Requirements for Chartered Accountancy Courses  The Council at its 306th meeting held from 7th to 9th June, 2011 had
considered the recommendations of the Group Constituted by the President, in terms of the authority given to him at its 303rd Meeting held from 10-12 February, 2011 to review entry requirement for Chartered Accountancy Course and decided as under:-
(a) Exemption to Graduates/CWAs/CSs from appearing in Common Proficiency Test (CPT)
Common Proficiency Test (CPT) be exempted for candidates who -
(i) are commerce graduates/post-graduates and have studied any three full papers of 100 marks each out of Accounting, Auditing, Mercantile
Laws, Corporate Laws, Economics, Management including Financial Management, Taxation including Direct Tax Laws, Indirect Tax Laws etc., Costing, Business Administration, Management Accounting and passed the graduate/post-graduate examination by securing in the aggregate a minimum of 55% of the total marks or its equivalent grade from any recognized Universities including Open Universities.
(ii) are other graduates/post-graduates not falling in the above category who have passed the graduation/post-graduation examination by securing in the aggregate a minimum of 60% of the total marks in the examination or its equivalent grade from any recognized Universities including Open Universities.
(iii) have passed the Intermediate level examination conducted by The Institute of Cost and Works Accountants of India or by The Institute of Company Secretaries of India. It was also decided that the above exemption would also be applicable to students who wish to pursue Accounting Technician Course of the Institute.
(b) (i) Candidates who are exempted from CPT be allowed direct entry to articleship; or
(ii) Enrolment to Articleship after passing either of the Groups of IPCC Exam The Council noted that three different alternatives routes have been
recommended by the Group in respect of registration of articles and decided as under:-
(i) The existing criteria to continue for candidates who wish to join articled training through CPT route i.e. only after qualifying Group I of IPCC Examination.
(ii) Graduates/ Post Graduates who are exempted from CPT as per (a) (i) & (ii) above be allowed to commence their articled training directly. However, candidates passing Intermediate level examination conducted by the ICWAI/ ICSI may join articleship only after passing Group I of the IPCC Examination of the Institute.
(c) Provisional Registration for Students pursuing Graduation Course The students pursuing final year of graduation be allowed for provisional registration to the Integrated Professional Competence Course (IPCC) and appear in the Integrated Professional Competence Examination (IPCE) only after appearing in the final year examination of graduation course and after completion of prescribed study period of 9 months from the date of registration to the IPCC.
Their provisional registration to the CA Course would be confirmed only after submission of satisfactory proof of their having passed the graduation course with the prescribed percentage of marks.
…………………..
It may kindly be noted that the above decisions of the Council will come into force subject to relevant provisions of the Chartered Accountants
Regulations, 1988 being amended, and the approval of the Central Government, and public exposure as required by law for which the process is in progress.

Read More

7:59 AM | 0 comments

Strategy to crack CA CPT

CPT is quite easy. one can clear it with good marks without taking coaching in first attempt. The syllabus is similar to that of 12Th standard materials. Try to finish the syllabus of CPT before minimum 2 weeks before exams.  Then start practising from the question banks provided by institute or even reputed CA publishers.
Then take up self examination and based on your performance you can revisit the area in which you are not scoring. likewise practice is the way to easily clear the CPT in the first attempt.

Tips for cracking Multiple Choice Questions (MCQs) in CA-CPT Exam successfully

Following should be kept in mind while attempting MCQs in CA-CPT Exam:

Tip no 1

Try to attempt as many questions as you can.

Tip no 2

Read every option, even if you are more than 100% sure about the 1st option.

If the first option is a correct one, look at the last option to make sure it is not an "all of the above" option.

Tip no 3

The above trick also works for the questions where "none of the above" is included in the question.

Tip no 4

Give good amount of time to the easiest question as many a times it may contain a tricky part.

Tip no 5

In case there is confusion always apply exclusion method. Try to exclude those options which cannot be the answers.

Tip no 6

If you do not know anything about the question or the options – never attempt that question.

Tip no 7

After reading the question cover the answers with your hand and first try to solve the question without looking at the answers. Then match your answer with the given options.

Tip no 8

Always try to imagine the topic (in your Assignments, notes or book).

When you come up with some hint, look or picture of it, look for that in the given options.

Tip no 9

Before marking the option ask yourself “reason to mark it right“, or “whether it makes any sense”.

Tip no 10

Always give more weightage to that answer which according to your knowledge is correct. If while dealing with the question, your logic says something and your knowledge says something else, always follow your knowledge.

Tip no 11

While you guess, do not change that answer which comes first to your mind. Many Researches indicate that your first answer is usually the correct one.

However, don't be afraid to change answers when you have quite a good reason for doing so.

Tip no 12

Allow time at the end to check for carelessness and Silly mistakes.

(This article is based on the information provided by a student who cleared CPT in the first attempt)

Read More

8:06 AM | 2 comments

Proposal for CPT exemption

The Indian Chartered Accountants of India (ICAI) has relaxed the norms for students aspiring to become chartered accountants. Until now an aspirant had to clear common proficiency test for chartered accountancy (CPT) after Std XII or graduation. Now there is an option of becoming a CA without clearing CPT. The existing option will continue to be available.

ICAI president G Ramaswamy told the media on Saturday that students who have completed two years of graduation can directly appear for Intermediate Proficiency Competency Course (IPCC) - which is the final step in becoming a CA - after doing apprenticeship. Even those students who have not appeared for Std XII exam but have done a diploma and a vocational course followed by two years of graduation also need not appear for CPT.

Ramaswamy further said that ICAI would not provide question papers to students 15 minutes before the examination began so that they go through the question papers and strategize their answers.

Presently, application forms for enrolling for CPT course are available at five certified registration centres (CRCs) in India. In order to facilitate students, the ICAI has decided to launch online CPT registration facility through CRCs where students across the country can register themselves for the CPT course by simply walking into the local ICAI office and pay the fee online (through credit or debit card).

The examination department of ICAI had implemented an automation process covering the coding, attendance data capturing, reconciliation and capturing of marks (after evaluation by examiners), tabulation, etc, Ramaswamy said.

ICAI Nagpur chief Kavita Loya said that the organization had entered into an MOU with several universities and was in the process of tying up with many others. CA Julfesh Shah said that ICAI was extending support to Omani finance professionals and was working on a tie up with its counterpart in New Zealand.

Read More

7:07 AM | 0 comments