CA - FAQs

FAQS CA NEW PATTERN

FAQs in respect of Revised Scheme of Education and Training 

Q1: Under the Revised Scheme what is the nomenclature for all the three levels?

Ans: The three levels will now be called as Foundation, Intermediate and Final in place of earlier levels i.e. Common Proficiency Course (CPC), Intermediate (Integrated Proficiency Competence) Course and Final Course.  

Q2: When is the first examination going to be held at all levels under Revised Scheme?

Ans: In May, 2018.

Q3: When can I register for Foundation Course?  

Ans: For registering in Foundation Course, a student must have appeared in class 12th Examination.

Q4: I have just appeared Class 12th Examination and results are still awaited, when can I join the Course?

Ans:  You can register in CPC till 30th June 2017 and can appear for CPT in Dec. 2017.  

In case you register after 30th June 2017, you have to compulsorily register in Foundation (under the Revised Scheme) and can appear for Foundation Examination in May 2018.

Q5: If I register in Foundation Course on 1st July, 2017 when can I appear for Foundation examination?

Ans: For appearing in Foundation Examination, a student must have completed 4 months of study period and have qualified class 12th Examination. Accordingly, you will be able to appear in May 2018 Foundation exams.

Q6: When are the Foundation Examinations held and what is the cut-off date of registration in Foundation?

Ans:  The Foundation Examinations will be held in the month of May and November every year. 31st Dec. and 30th June is the cut-off date for registration for being eligible to appear in May and November examinations respectively covering a study period of four months.

Q7: I appeared in Class XII Examination in March-April-2017 and my XII result were declared in May 2017, Can I register for Foundation Course now so as to appear in Foundation Examination in November 2017 ?

Ans:  You can register for the Foundation Course as per the Revised Scheme on or after 1st July, 2017. The 1st Examination of Foundation under the Revised Scheme will held in May, 2018 Examination so you will be eligible to appear in May 2018.  

If you want to register for CA Course now, you can do so by registering for the existing Common Proficiency Course (CPC) till 30th June, 2017, the examination of the same will be held in December, 2017.  

In future however, any student who has appeared Class XII and registered for Foundation course on or before 30th June/31st December and after qualifying Class XII Examination will be eligible to write in the respective November/May examination.   

Q8: How many Papers are there in Foundation?

Ans:  There will be 4 papers in Foundation.

Q9: What is the examination pattern in Foundation Course?

Ans:  Out of 4 papers, 2 papers are subjective type (Paper 1 & 2) and rest of the 2 papers are objective type (Paper 3 & 4).

Q10: Is there negative marking in Foundation like CPT?

Ans: Yes.  Negative marking is for Papers 3 & 4 only and not for subjective papers i.e. 1 & 2.

Q11: What are the papers in Foundation?

Ans: Paper 1: Principles and Practices of Accounting (100 Marks)

       Paper 2: Business Law & Business Correspondence and Reporting (100 Marks)  

                     Section A: Business Law (60 Marks)  

                     Section B: Business Correspondence and Reporting (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 and Commercial Knowledge (40 Marks)

 

Q12: How can I qualify Foundation Examination?

Ans:  You can qualify Foundation Examination by securing 50 % in aggregate and 40 % in each subject individually.  

Q13: When can I register for Intermediate Course?  

Ans:  A student can register in Intermediate Course w e f 1st July 2017, if qualified PE I /CPT/ Foundation or if joining through Direct Entry Route.

Q14: If I register in Intermediate Course on 1st July 2017 through CPT route, when can I appear for Intermediate Exams?

Ans: You can appear in Intermediate exams in May 2018. You have to complete 8 months of study period before appearing for the Intermediate Examination.

Q15: I am appearing / have appeared for CPT examination in June 2017 how can I register in IPCC Course (existing scheme)?

Ans: The results of CPT June 2017 will be declared in July 2017 while the existing scheme will be discontinued w e f 1st July 2017. Hence, you will have to compulsorily register in Intermediate Course under New Scheme.

Q16: If I qualify CPT in July, 2017, Can I register for Intermediate Course?

Ans: Yes, after clearing CPT in July, 2017, you can register for Intermediate Course under the Revised Course.  

Q17: If I qualify CPT- June 2017 examination, when will I be eligible to appear for Intermediate Examination?

Ans: For appearing in Intermediate examination a study periodof eight months is required. Accordingly, you have to register latest by 1st Sep., 2017 in Intermediate Course for being eligible to appear in May 2018 Examination.

Q18: When are the Intermediate Examinations held and what is the cut-off date of registration in Intermediate?

Ans: The Intermediate Examinations will be held in the month of May and November every year. 1st Sep. and 1st March is the cut-off date for registration for being eligible to appear in May and November examinations respectively under the Foundation Route.

Q19: I wish to join CA Course under Revised Scheme through Direct Entry Route. When can I join the course so as to be eligible for May 2018 Examinations?

Ans:  You have to register in Intermediate on 1st July 2017 and complete 4 weeks of ICITSS and commence the Practical Training latest by 1st August 2017 to be eligible to appear for May 2018 examination. Through Direct Entry route, a Student can appear in Intermediate after completion of 9 months of Practical Training.  

Under Direct Entry Route, a student has to commence the practical training latest by 1st August/ 1st Feb. for being eligible to appear in May/ Nov. examinations respectively.

Q20:  I am through Foundation/ CPT route, when can I commence Practical Training?

Ans:  After passing either or both groups of Intermediate examination and successfully completing Four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS), you can commence Practical Training.

Q21:  I am through Direct Entry Route, when can I commence Practical Training?

Ans:   Immediately after registering for Intermediate Course and successful completion of Four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS), you can commence Practical Training.

Q22: I have qualified Intermediate level examination of Institute of Company Secretaries of India or Institute of Cost Accountants of India, when can I commence Practical Training?

Ans:  After passing either or both groups of Intermediate examination and successfully completing Four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS), you can commence Practical Training.

Q23:  What are the papers in Intermediate?

Ans:  There are 8 Papers in Intermediate which are as under:-  

          Group I  

           Paper 1: Accounting (100 Marks)

           Paper 2: Corporate Laws & Other Laws (100 Marks)                  

                         Part I: Company Laws (60 Marks)                          

                         Part II: Other Laws (40 Marks)

          Paper 3: Cost and Management Accounting (100 Marks)

          Paper 4: Taxation (100 Marks) 

                       Section A: Income Tax Law (60 Marks)                        

                       Section B: Indirect Taxes (40 Marks)  

          Group II  

        Paper 5: Advanced Accounting (100 Marks)

        Paper 6: Auditing and Assurance (100 Marks)

        Paper 7: Enterprise Information Systems & Strategic Management (100 Marks)                      

                      Section A: Enterprise Information Systems (50 Marks)                  

                      Section B: Strategic Management (50 Marks)

       Paper 8: Financial Management & Economics for Finance (100 Marks)                  

                      Section A: Financial Management (60 Marks)                            

                      Section B: Economics for Finance (40 Marks)

 Q24: What are the papers at the Final level under the Revised Scheme?

Ans:  Number of Papers at Final lever are 8 and are as under:-  

         Group I  

         Paper 1: Financial Reporting (100 Marks)

         Paper 2: Strategic Financial Management (100 Marks)  

         Paper 3: Advanced Auditing and Professional Ethics (100 Marks)

         Paper 4: Corporate and Economic Laws (100 Marks)                            

                      Part I: Corporate Laws (70 Marks)                    

                      Part II: Economic Laws (30 Marks)  

        Group II  

         Paper5: Strategic Cost Management and Performance Evaluation (100 Marks)

         Paper 6: Elective Paper (100 Marks) (One to be chosen from the list of Elective Papers)  

         Elective Papers

        * Risk Management  

        * International Taxation

        * Economic Laws

        * Financial Services & Capital Markets ? Global Financial Reporting Standards

        * Multidisciplinary Case Study  

        Paper 7: Direct Tax Laws (70 Marks) & International Taxation (30 Marks)                                

                      Part I: Direct Tax Laws (70 Marks)                        

                      Part II: International Taxation (30 Marks)

        Paper 8: Indirect Tax Laws (100 Marks)                                  

                      Part I: Goods and Service Tax (75 Marks) 

                      Part II: Customs and FDP (25 Marks)

Q25:  When can I register for the Final Course under the Revised Scheme?

Ans:  The registration under the Revised Scheme for the Final Course will start from July 1, 2017.

Q26:  When can I appear for the Final Examination under the Revised Scheme?

Ans:  Under the Revised Scheme, you can appear for the Final examination during the last six months of Practical Training and after successfully completing Four Weeks Advanced Integrated Course on Information Technology and Soft Skills (ICITSS)

Q27:  What is the duration of Practical Training?

Ans:  Three years.

Q28: I have registered for only Group-I / Group-II of IPCC, under which scheme will I be eligible to appear in Nov. 2017 onwards?

Ans:  You have to register in the remaining group latest by 30th Jun 2017 to continue in the Existing scheme, else, have to compulsorily register under the Revised Scheme for the remaining group after 30th June, 2017.

Q29: I have registered for only Group-I / Group-II of IPCC and taken May 2017 Exams, suppose I do not qualify and register for balance Group under revised scheme how will I appear in Nov. 2017?

Ans: You can register for the balance group under the existing scheme till 30th June, 2017 and can continue till the available attempts or else you have to compulsorily switch over to revised scheme.  In other words, you cannot appear both in existing and revised scheme.

Q30: I’m currently pursuing articleship and in 1st/2nd year of training. I have not yet registered for Final course. Do I compulsorily need to register for Final Course before 30th June, 2017 in order to continue under existing scheme?

Ans:  Yes. Only the students registered under the existing scheme till 30th June 2017 will be able to pursue the course as per existing scheme, thereafter they will have register under the revised scheme only.

Q31: What will be our attempt if our first group is already passed and registered in articleship in March 2017?

Ans: In Nov. 2017, you can appear in IPCC Group-II (provided you have registered for Group-II or both Groups uptil 30th June 2017) under the existing scheme for the available attempts.  

Q32: I have qualified Group-I of IPCC and undergoing last 6 months of articleship. I have taken Group-II exams in May 2017 and if I qualify the same, when will my 1st Final Attempt be?

Ans:  This aspect is under consideration and separate clarification will be issued shortly.

Q33: Is it possible to apply for new Intermediate course on qualifying CPT Dec., 2016 or earlier attempts (but not registered for IPCC Course till date)?

Ans:  If you register till 30th June 2017, you will register for IPCC under the Existing Scheme, in case you have not registered till 30th June, 2017, you will compulsorily register for Intermediate under the Revised Scheme. 

Q34: I have valid registration for CPT/ IPCC/Final as on 1st July 2017 but if it expires before taking up exams. Can I take up the exams under existing scheme by revalidating or have to switch to Revised Scheme?

Ans: The revalidation under the existing scheme can be done even after 1st July 2017 till the available attempts of Examinations of that level under the existing scheme.

Q35: I have completed PE II/ PCC/IPCC. How can I appear for Final Exam under existing scheme in Nov. 17 / May, 2018?

Ans: For appearing in Final Exam under existing scheme, a student has to register himself in Final Course under existing scheme till 30th June, 2017.

Q36: I am appearing for IPCC Examinations in Nov., 2017, under which scheme will I be able to appear in Final?

Ans: After qualifying IPCC Examinations in Nov., 2017, you have to register in Final Course under the revised scheme.  From 1st July, 2017 and onwards, students can register only under Revised Scheme as the existing scheme will be discontinued from 1st July, 2017.

Q37: If I have registered for CPT before 30th June, 2017 will I be allowed to switch over to Foundation at a later stage?

Ans: At any point of time, you can switch over to Foundation Course.

Q38: Which is the last examination of CPT?

Ans: June, 2019 will be the last CPT examination.

Q39: If I have registered for IPCC before 30th June, 2017 will I be allowed to switch over to Intermediate at a later stage?

Ans: At any point of time, you can switch over to Intermediate Course.

Q40: Which is the last examination of IPCC course?

Ans: May, 2019 will be the last IPCC examination.

Q41: If I have registered for Final (existing scheme) before 30th June, 2017 will I be allowed to switch over to Final (revised scheme) at a later stage?

Ans: At any point of time, you can switch over to Final (revised) Course.

Q42: Which is the last examination of Final (existing) Course?

Ans: November, 2020 will be the last examination of Final (existing) course.

Q43: How many parallel attempts will be given to students under CPT-Foundation, IPCCIntermediate and Final (existing) – Final (revised)?

Ans: Number of parallel attempts for CPT-Foundation, IPCC-Intermediate and Final (existing) – Final (revised) will be 3, 3 and 6 respectively.

Q44: Can I register for articleship/practical training after clearing only 2nd group of Intermediate instead of the old regime of mandatory passing 1st Group of IPCC before being eligible for enrolling under articleship/practical training?

Ans: Yes, the same has been changed and you may register for practical training after passing either of any of the group or both the groups of Intermediate.

Q45: Suppose I have appeared for 12th Boards/final examination in March 2018, I am eligible to appear in June 2018 attempt of CPT under current structure of the course but under the new course structure, am I still eligible for appearing in May 2018 of Foundation or I will be eligible for November 2018 attempt only.

Ans:  Under the new structure, you must have completed 4 months of study period and have qualified class 12th examination and therefore, you will be eligible for appearing in November 2018 attempt or onwards and not May 2018 attempt.

Q46: What is Integrated Course on Information Technology and Soft Skills (ICIITSS) and Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS)?

Ans: ICITSS (OC & ITT) is combination of Information Technology Training (ITT) and Orientation Course (OC) and Advanced ICITSS (GMCS & Adv. ITT) is combination of General Management Communication Skills (GMCS) and Advanced ITT.            ICITSS and Advanced ICITSS will be effective from 1st July 2017 and are of 4 weeks each.

Q47:  I have undergone OC & ITT / GMCS & ADV. ITT under existing scheme, do I need to undergo ICITSS / Advanced ICITSS even if I continue with the Existing scheme/ if I switch to Revised Scheme?

Ans:  No, a student who has already undergone OC & ITT / GMCS & ADV. ITT will not be required to undergo that course again.  

Q48:  I have undergone only one i.e. either OC or ITT or GMCS or ADV. ITT under existing scheme, do I need to undergo complete ICITSS (OC & ITT) / Advanced ICITSS (GMCS & Adv. ITT) even if I continue with the Existing scheme/ if I switch to Revised Scheme?

Ans:  Students who have already undergone only one i.e. either OC or ITT or GMCS or ADV. ITT has to undergo only the remaining course i.e. ICITSS (ITT) or ICITSS (OC) or Advanced ICITSS (Adv. ITT) or Advanced ICITSS (GMCS). They are not required to undergo ICITSS (OC & ITT)/ Advanced ICITSS (GMCS & Adv. ITT) in entirety.  

Q49:  When is ICITSS to be undergone?

Ans:  Like ITT and OC, ICITSS is also to be completed before commencing Practical Training for both the Routes.

Q50:  When is Advanced ICITSS to be undergone?

Ans:  Anytime during last 2 years of Practical Training but, compulsorily before appearing for Final Exam under Revised Scheme / before applying for Membership of ICAI under Existing Scheme.

Q51: I am student under existing scheme and have not undergone OC and ITT. Do I need to undergo ICITSS?

Ans: Yes. The student has to undergo ICITSS.  

Q52: Will Board of Studies provide study material for ICITSS and Advanced ICITSS?  

Ans: The Board of Studies will provide study material both for ICITSS and Advanced ICITSS.

 Q53: Will the students get a certificate after the successful completion of the course?  

Ans: The students will get a certificate from the concerned POU after successful completion of the course.  

 

 

 

 

Common Proficiency Course (CPC) & Common Proficiency Test (CPT)

Frequently Asked Questions (FAQs)

 

What is the Common Proficiency Test?

It is an entry level test for Chartered Accountancy Course. It is an objective test of four subjects i.e. Accounting, Mercantile Laws, General Economics and Quantitative Aptitude. The test is divided into two sessions of two hours each conducted for 200 marks.

 

Who can join the course?

A student who has passed the 10th standard examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto may register for Common Proficiency Course (CPC).

 

Is there any scheme available for student of Entrance/ Foundation/ Professional Education (Course-I) to switchover to Common Proficiency Course (CPC)?

All earlier respective students of Entrance/ Foundation/ Professional Education (Course-I) who have not passed respective examinations are required to register afresh for Common Proficiency Course (CPC) by paying full registration fees for CPC, i.e., Rs.6,000/- as applicable at present to continue their studies in CA Course.

 

Is it correct that Graduates/ Post-Graduates or Intermediate level examination passed students of the Institute of Cost Accountants of India or the Institute of Company Secretaries of India are exempt from CPT?

Yes. The following categories of students shall be exempt from passing the Common Proficiency Test (CPT) from  dated 1st August, 2012:-

(A)  Graduates or Post Graduates in Commerce having secured in aggregate a minimum of 55% of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open University) by studying any three papers of 100 marks each out of Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing, Business Administration or Management Accounting;

OR

Graduates or Post Graduates other than those falling under Commerce stream mentioned above having secured in aggregate a minimum of 60% of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open University).

Above category of students can commence practical training after undergoing Orientation Course and Information Technology Training (ITT).

 

Provisional Registration:

Students who are pursuing the Final year of Graduation Course shall be eligible for provisional registration to the Intermediate (Integrated Professional Competence) Course. Such students would be required to submit satisfactory proof of having passed the graduation examination with the specified percentage of marks within six months, from the date of appearance in the final year graduation examination (i.e. from the day of commencement of the examination). During the period of provisional registration, a student can undergo and complete Information Technology Training (ITT) and Orientation Course. It is clarified that in their case, the practical training shall commence only on becoming a Graduate with specified percentage of marks. Such students shall be eligible for appearing in the Intermediate (Integrated Professional Competence) Examination on completion of nine months of practical training. If such students fail to produce the proof within the aforesaid period, his provisional registration shall stand cancelled and the registration and other fees, as the case may be, paid by him shall not be refunded/ adjusted and no credit shall also be given for the theoretical education undergone.

OR

(B) Candidates who have passed the Intermediate level examination or its equivalent examination by whatever name called conducted by The Institute of Cost Accountants of India or by The Institute of Company Secretaries of India.

Above category of students shall be eligible to appear in the Intermediate (IPC) Examination after undergoing study course period of 8 months.

 

How to apply for admission to the Common Proficiency Course (CPC)?

A student is required to apply in the prescribed form.

A student can buy a Prospectus from all Regional Offices/ Branches of the Institute by remitting Rs.100/-. The Application form for Registration to the course is available with the Prospectus.

Alternatively,

  •    
    • The application form can be downloaded from Institute’s website; if Registration Form is downloaded from Institute’s website add Rs. 100/- with Common Proficiency Course (CPC) Registration Fee.
  •    
    • Candidates can also fill CPC registration on-line.

 

What are the fees for registration?  

 

 

 

 

 

 

(i)

Indian

students

residing

(i) the students of foreign

 

 

 

 

 

 

 

countries other than SAARC

 

Sl.

 

 

Details of Fee

 

in

India

and

other

SAARC

countries; and

 

 

No.

 

 

 

countries; and

 

 

(ii) Indian students

residing

 

 

 

 

 

 

(ii)

students

belonging to

 

 

 

 

 

 

 

abroad other than

SAARC

 

 

 

 

 

 

 

other SAARC countries

countries

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of CPC Prospectus (Prospectus will be

 

 

 

 

 

 

 

 

 

 

supplied subsequently to those student who

 

 

100

 

10

 

 

1

 

have down loaded the form for CPC

 

 

 

 

 

 

 

Registration and have remitted Rs. 100/-

 

 

 

 

 

 

 

 

 

 

alongwith CPC Registration fee)

 

 

 

 

 

 

 

 

 

2

 

CPC Registration fee *

 

 

 

 

6,000

 

580

 

 

 

 

Subscription for Students’ Journal (for one

 

 

200

 

20

 

 

3

 

year)

(Optional

but

strongly

 

 

 

 

 

 

 

recommended)

 

 

 

 

 

 

 

 

 

 

4

 

Subscription for Members’ Journal (for one

 

 

400

 

40

 

 

 

year) (Optional)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL

 

 

 

 

 

 

 

6,700

 

650

 

 

 

* Registration fee includes supply of reading materials alongwith Model Test Papers Volume I and Volume II.

CPC registration fee is to be paid in the form of Demand Draft drawn in favour of “The Secretary, The Institute of Chartered Accountants of India, payable at concerned Regional Office i.e. Mumbai, Chennai, Kolkata, Kanpur or New Delhi”. If Registration Form is downloaded from the Institute’s website, add Rs. 100/- or US $10 alongwith Common Proficiency Course (CPC) Registration fee for supply of a copy of the Prospectus alongwith the study package.

 

 What are the documents/ proofs to be to be enclosed along with the CPC registration application?

The following documents to be enclosed along with the CPC Registration form:

(1)  Demand Draft towards registration and other fees.

(2)  Attested copy of Date of Birth and 10th pass Marks Statement.

(3)  Attested copy of proof of Nationality, if student is foreigner.

(4)  Attested copy of proof of special category certificate i.e. SC/ST, OBC and Differently abled.

CPC Registration form to be submitted to the Regional Office in consonance with the address of the student.

 

Where to submit/dispatch filled-in application form?

The application form can be obtained and / or submitted to the following Offices of the Institute in consonance with the address of the student as stated below:

Students address belongs to

Where to submit Registration Form

 

Gujarat, Maharashtra, Goa and the Union

Western India Regional Council of The Institute of

 

Chartered Accountants of India, “ICAI BHAWAN”, 27

 

Territories of Daman & Diu and Dadra & Nagar

Cuffe Parade, Colaba, Mumbai - 400 005, Phone: 022-

 

Haveli

39893989, Fax: 022- 39802953, E- mail: wro@icai.org

 

 

 

 

Southern India Regional Council of The Institute of

 

Andhra Pradesh, Kerala, Karnataka, Tamil

Chartered Accountants of India, “ICAI BHAWAN”, 122

 

Nadu and the Union Territories of Pondicherry

M.G. Road, Post Box No. 3314, Nungambakkam, Chennai –

 

and Lakshadweep Islands

600 034, Phone: 044 – 39893989, Fax: 044-30210355, E-

 

 

mail: sro@icai.org

 

 

Eastern India Regional Council of The Institute of

 

Assam, Meghalaya, Nagaland, Orissa, West

Chartered Accountants of India, ICAI BHAWAN, 7,

 

Bengal, Manipur, Tripura, Sikkim, Arunachal

Anandilal Poddar Sarani, (Russell Street), Kolkata – 700

 

Pradesh, Mizoram, Andaman-Nicobar Islands

071, Phone: 033-39893989, Fax: 033-30211145, E-mail:

 

 

ero@icai.org

 

Uttar Pradesh,  Bihar,  Madhya  Pradesh,

Central India Regional Council of The Institute of

 

Chartered Accountants of India, ICAI BHAWAN, Post Box

 

Rajasthan,  Uttaranchal,  Chhatisgarh  and

No. 314, 16/77B, Civil Lines, Kanpur – 208 001, Phone:

 

Jharkhand

0512-3989398, Fax: 0512 -3011173, E- mail: cro@icai.org

 

 

 

Delhi, Haryana, Himachal Pradesh, Jammu &

Northern India Regional Council of The Institute of

 

Chartered Accountants of India, ICAI BHAWAN, 52-54

 

Kashmir, Punjab and Union Territory of

Vishwas Nagar, Delhi – 110032, Phone: 011-39893990

 

Chandigarh

Fax: 011-30210680, E-mail: nro@icai.org,

 

 

 

 

What are the subjects to be studied in CPT and weightage for each subject?

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)

 

Will there be any study package?

Yes. We are providing the unique study material and the Board of Studies of ICAI also providing a comprehensive reading material including large question bank. In addition, Volume I & II of the Model Test Papers are also being supplied to the students with study materials.

 

What is the fee to be paid for undergoing coaching at IPMS?

Fees to be charged for different courses are decided by the institutions. Details can be obtained from the office of IPMS .

 

What is the eligibility for appearing in the Common Proficiency Test (CPT)?

A registered student may appear in Common Proficiency Test (CPT) after he has appeared 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 has complied with such requirements as may be specified by the Council from time to time

 

 How to make application for appearing in CPT?

A student has to follow the examination notification to be issued by the Examination Department of the ICAI and apply in the prescribed form either on-line or physical form. CPT fee for on-line application form is Rs. 500/- and physical form examination fee of Rs. 1000/ - (inclusive cost of application form & exam fee) . The Examination Department will notify the date of CPT and examination centres and issue admit card against examination application form received. CPT fee is subject to change from time to time.

 

What are the qualifying marks to pass CPT?

The qualifying mark is 50%. A student has to remember that CPT is an objective type test with a negative marking for selecting wrong option which will be indicated in the question paper.

¼ (One Fourth) mark will be deducted for each wrong answer.

“A candidate for the Common Proficiency Test shall ordinarily be declared to have passed the test if he obtains at one sitting a minimum of thirty per cent marks in each section and a minimum of fifty per cent marks in the aggregate of all the sections, subject to the principle of negative marking, in such manner as may be determined by the Council, from time to time.”

Accordingly, the minimum marks required in each section and in the aggregate in all sections of CPT as per the revised passing requirements is as under:-

Section

Subjects

Maximum

Minimum marks

 

(Mandatorily to be secured

 

 

 

Marks

after negative marking)

 

 

 

 

 

A

Fundamentals of Accounting

60

18

 

B

Mercantile Laws

40

12

 

C

General Economics

50

15

 

D

Quantitative Aptitude

50

15

 

 

Total

200

100*

 

*A candidate is required to secure a minimum of 30 per cent marks in each Section and a minimum of 50 per cent marks in aggregate in all the four Sections to pass the Common Proficiency Test.

 

 Whether Common Proficiency Course (CPC) registration is valid for indefinite period?

No. Common Proficiency Course (CPC) registration is valid for 3 years. CPC students should have valid registration before applying for relevant CPT. Revalidation of registration shall be done for further period of 3 years before expiry of initial registration. Students can revalidate their registration any number of times before expiry of valid registration period by paying Rs. 300/-.

 

What are the approximate expenses of CA Course?

The tentative expenses for pursuing CA Course are as follows:

ICAI Course Fee structure as on date

Course and fees

Amount

Exam

 

Rs.

Fee

 

 

 

Common Proficiency Course (CPC) Registration Fee

6,000

500

 

(on-line

 

 

 

application)

 

Intermediate (Integrated Professional Competence) Course (Both Group)

9,000

1,600

 

Registration Fee

 

 

 

 

Articled Training Fee

2,000

--

 

Final Course Registration Fee

10,000

2,250

 

100 Hours Information Technology Training (ITT)

4,000

--

 

35 Hours Orientation Programme

3,000

--

 

Students those who register for Articled Training on or after 1st May, 2012

4,000

 

 

shall be required to undergo Two General Management and

 

 

Communication Skills (GMCS) course of 15 days each. First GMCS Course

(GMCS-I)

--

 

shall be undergone during the 1st year of articled training and Second

4,000

 

GMCS Course shall be undergone after completion of 18 months of

(GMCS-II)

 

 

training but before completion of articled training.

 

 

 

Total

42,000

4,350

 

GRAND TOTAL

46,350

 

 

Whether the student is eligible for any stipend during the CA Course?

Yes. The student while undergoing Articled Training is eligible for stipend. The current rate of stipend so payable to students is given below:

Classification of the

During the

During the

During the

 

second

remaining

 

normal place of service of

first year

year of

period of

 

the articled assistant

of training

 

training

training

 

(i) Cities/towns having a population of twenty

Rs.1000/-

Rs.1250/-

Rs.1500/-

 

lakhs and above.

 

 

 

 

(ii) Cities/towns having a population of four

Rs.750/-

Rs.1000/-

Rs.1250/-

 

lakhs and above but less than twenty lakhs.

 

 

 

 

 

(iii) Cities/towns having a population of less

Rs.500/-

Rs.750/-

Rs.1000/-

 

than four lakhs.

 

 

 

 

 

 

Whether student can pursue Graduation/ Post Graduation Course while undergoing Articled Training?

Yes. CA Student while undergoing articled training can pursue Graduation/ Post Graduation Course as well as MBA through distance learning programme from the Universities with whom the Institute has signed Memorandum of Understandings (MoUs). These Universities are IGNOU, Bharathiar University, University of Madras and Netaji Subhas Open University (NSOU). Students by

obtaining permission from the Institute by submitting Form 112 can pursue course. Students may note that only one course is allowed during articled training period alongwith articled training.

 

 Whether CA Course is recognized for pursuing Ph.D/ Fellow Programme from Universities and is it recognized for taking UPSC’s Class A and B Examinations?

Association of Indian Universities (AIU) has recognised Chartered Accountancy Qualification as equivalent to Post Graduate Degree in Commerce for pursuing Ph.D. Programme. Ninety Indian Universities and six Indian Institutes of Management recognised Chartered Accountancy Qualification as equivalent to Post Graduation for admitting the CA students to the Doctoral

 

Programme.

A student who has passed Final examination of the Institute of Chartered Accountants of India has been recognized for recruitment to Superior services / Posts under the Central Government. Accordingly, candidates possessing this qualification are eligible for admission to the Civil Services Examination , which is conducted by the Commission for recruitment to IAS, IPS and other Group ‘A’ / Group ‘B’ Central Services / Posts.

 

How much time required becoming a Chartered Accountant?

A student through CPT route can become a Chartered Accountant approximately in 4 years, if he/she passes all eligible examinations in first attempt.

 

What are opportunities available for qualified CA?

A profession that imparts the best of technical skills in financial and management areas and abilities necessary for deciding and acting upon the high -pressure situations. The society has increasingly recognized the services of CAs in entire gamut of management consultancy including management accounting, management information and control systems, international finance, information technology and financial services sector. CAs today are part of the top management team and hold key positions in the corporate sector. Rapid changes taking place in the economy have further opened up new vistas of opportunities for the Chartered Accountants.

 

Whether articled training is compulsory for all students pursuing CA Course?

The articled training is a very important and integral part of chartered accountancy course.

 

Is there any age limit for pursuing CA Course? Can an employed person take up CA Course?

No. There is no upper age limit for pursuing CA Course.

An employed person can register for the CA Course, but during the articled training, he cannot take employment and articled training simultaneously.

 

Does ICAI conduct Campus Placements?

Yes. The Institute organizes Campus Placement twice a year. Top Notch Companies participate and conduct recruitment process at various offices of ICAI.

 

What is the next step after passing CPT?

Students after passing CPT and Senior Secondary (10+2) examination, conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto, can join for next level of Chartered Accountancy Course.

The Chartered Accountancy Course consists of further two levels:

  1. I.                   Intermediate (Integrated Professional Competence) Course
  1. II.                 Final Course

 

Students before appearing for the first time in Intermediate (Integrated Professional Competence) Examination have to undergo eight months study course. Students may successfully complete Orientation Programme and Information Technology Training (ITT) either before appearing for the Intermediate (IPC) Examination or necessarily required to complete both before joining for articled training.

CPT route student can commence 3 years article training only after passing Group I or Both Groups of Intermediate (IPC) Examination.

 

Intermediate (Integrated Professional Competence) Course

(IIPCC) Accounting Technician Course (ATC)

Frequently Asked Questions (FAQs)

 

 What is an Intermediate (Integrated Professional Competence) Course (IIPCC)?

Intermediate (Integrated Professional Competence) Course (IIPCC) is next level after clearing CPT for pursuing CA Course and it is first level for students registering under Direct Entry Scheme, eligibility requirements for registration under Direct Entry Scheme are given under FAQ Sl. No. 3.

In Intermediate (IPC) Course, students are tested on the working knowledge of core and allied subjects to accountancy profession.

 

How to apply for admission to the Intermediate (IPC) Course / ATC?

A student is required to apply for registration in the prescribed form:

A student can buy a Prospectus for Chartered Accountancy Course either from Regional Offices or Branches of the Institute by remitting Rs.100. The Application form for Registration to the course is supplied alongwith the Prospectus.

Alternatively, Registration Form can be downloaded from Institute’s. If Registration Form is downloaded from the Institute’s website, students are required add Rs. 100/- as the case may be with Intermediate (IPC) Course / ATC Registration fee for supply of “Prospectus for Chartered Accountancy Course – Scheme of Intermediate (Integrated Professional Competence) Course and Final Course”.

 

Who can enroll for Intermediate (IPC) Course /ATC?

 Eligibility qualification/ requirement to enroll for Intermediate (IPC) course:

 A candidate is eligible for enrolment to any of the level(s) of the Intermediate (IPC) Course on passing the Common Proficiency Test and 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.

  1. A candidate who has already passed Entrance Examination or Foundation Examination or Professional Education (Examination-I) shall be eligible for enrolment to Intermediate (IPC) Course subject to complying with relevant conditions.
  1. A candidate who was already registered for erstwhile Intermediate/ Professional Education (Course-II)/ or Professional Competence Course cum articleship shall be eligible for enrolment/ conversion to Intermediate (IPC) Course subject to complying with relevant conditions.
  1. Students who are Graduates/ Post Graduates in Commerce having secured in aggregate a minimum of 55% of the total marks or its equivalent grade in the examination conducted by any recognized University (including Open University) by studying any three full papers of 100 marks each out of Accounting, Auditing, Law including Business Laws, Mercantile Laws, Corporate Laws etc., Economics, Management including Financial Management, Personnel Management etc., Taxation including Direct Tax Laws, Indirect Tax Laws etc., Costing, Business Studies, Business Administration and Management Accounting or other than those falling under Commerce stream having secured in aggregate a minimum of 60% of the total marks or its equivalent grade in the examination conducted by any recognized University

(including Open University) and Candidates who have passed the Intermediate level examination conducted by The Institute of Cost Accountants of India or by The Institute of Company Secretaries of India can register directly in the Intermediate (IPC) Course.

  1. Students who are pursuing the Final year Graduation Course can also register for the Intermediate (IPC) Course on provisional basis and such students registration would be regularized and they can commence practical training only on submission of satisfactory proof of having passed the Graduation examination with the specified percentage of marks within six months from the date of appearance in the final year graduation examination and completion of Information Technology Training (ITT) and Orientation Course. During the provisional registration period, a student can undergo and complete Information Technology Training (ITT) and Orientation Course. If such student fails to produce the proof within the aforesaid period, his provisional registration shall stand cancelled and the registration and other fees, as the case may be, paid by him shall not be refunded/ adjusted and no credit shall be given for the theoretical education undergone.

 

After CPT pass, which course is more beneficial to student i.e. Intermediate (IPC) Course or ATC or Both?

It is suggested to enroll for Both Groups of Intermediate (IPC) Course with the option of ATC. Since, student needs to undergo 8 months study course, 100 Hour ITT and 35 hours Orientation Programme only once during Intermediate (IPC) Course. Therefore, students are suggested to enroll for Both Groups of Intermediate (IPC) Course with the option of ATC, whereby students in case of any eventuality, may quit the CA course in the middle with ‘Accounting Technician Certificate’ (subject to fulfillment of regulatory requirements). By doing this, he can save registration fee, time and can ensure minimum basic qualification to serve in the Industry in the areas of Accounting and Taxation. It is further clarified that students after obtaining ATC, can continue their full fledge CA course also.

However, students under Direct Entry Scheme are mandatorily required to register for Both Groups with or without the option of Accounting Technician Course.

 

What are the enclosures to be submitted along with the application for registration to Intermediate (IPC) Course?

Students, while submitting Intermediate (IPC) Course registration form at concerned Regional office, should enclose the following:

1)   Demand Draft/Pay Order towards Intermediate (IPC) Course registration fee (Demand Draft should be drawn in favour of “The Secretary, The Institute of Chartered Accountants of India payable at either New Delhi/ Mumbai/ Chennai/ Kolkata/ Kanpur” as the case may be.

2)  Attested copy of 12th pass or its equivalent Central Government recognized examination pass marks statement (applicable to CPT route students).

3)  Copy of CPT Pass marks statement, (applicable to CPT route students) (Note: Students are advised not to wait for CPT marks statement to be received from Examination division for registration to Intermediate (IPC) Course but proceed for Intermediate (IPC) Course registration with a copy of downloaded CPT marks statement).

4)  Graduation/Post Graduation marks statements or Intermediate level examination pass statement having passed the Intermediate level examination of The Institute of Cost Accountants of India or by The Institute of Company Secretaries of India for admission to Intermediate (IPC) Course under Direct Entry Scheme.

 

What is the Senior Secondary (10+2) equivalent Examinations recognized by the Institute for enrolling to Intermediate (IPC) Course?

A CPT route student after passing Common Proficiency Test (CPT) and on passing 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 are eligible for registration to Intermediate (IPC) Course. For the information, list of such recognized list of Senior Secondary (10+2) Examinations are given below:

 

List of Examinations treated as equivalent to Senior Secondary Examination:

1. Board of Intermediate Education, Andhra Pradesh

2. Assam Higher Secondary Education Council

3. Bihar School Examination Board

4. Central Board of Secondary Education (CBSE)

5. Chhatisgarh Board of Secondary Education

6. Council for Indian School Certificate Examinations (CISCE)

7. Goa Board of Secondary and Higher Secondary Education

8. Gujarat Secondary & Higher Secondary Education

9. Board of School Education, Haryana

10. H. P. Board of School Education

11. J & K State Board of School Education

12. Jharkhand Academic Council

13. Government of Karnataka Department of Pre-University Education

14. Kerala Board of Higher Secondary Education

15. Maharashtra State Board of Secondary & Higher Secondary Education

16. Board of Secondary Education, Madhya Pradesh

17. Council of Higher Secondary Education, Manipur

18. Meghalaya Board of School Education

19. Mizoram Board of School Education

20. Nagaland Board of School Education

21. Council of Higher Secondary Education, Orissa

22. Punjab School Education Board

23. Board of Secondary Education, Rajasthan

24. Tamil Nadu State Board of School Examinations

25. Tripura Board of Secondary Education

26. U. P. Board of High School and Intermediate Education

27. Board of School Education, Uttarkhand

28. West Bengal Council of Higher Secondary Education

29. Chhatisgarh State Open School

30. M.P. State Open School

31. National Institute of Open Schooling

32. Rajasthan State Open School

33. The West Bengal Council of Ravindra Open Schooling

34. Banasthali Vidyapith

 

35.  5 (Five) passes at GCE ‘O’ level/GCSE/IGCSE in A/B/C Grades and two passes at GCE ‘Advanced’ level examination of the approved British Examining Bodies is recognized by the Association of Indian Universities as equivalent to +2 stage qualification of an Indian Body.

36. Students who have completed two years of higher education including Diploma course after passing 10th class, conducted either by Central/ State Government(s) and on passing such a course have either been admitted to first year of graduation course or have passed the graduation course conducted by any University, including Open Universities, established by law in India shall be also eligible for admission to the Common Proficiency Test (CPT).

37.  10+2 Examination of any other recognized Board/University not covered above but recognized by

Association of Indian Universities (AIU) as equivalent to Senior Secondary (10+2) Examination as recognized by Central Government.

 

Whether students converted from erstwhile Intermediate/ Professional Education (Course – II)/ Professional Competence Course to Intermediate (IPC) Course are required to undergo 8 months study course period and complete Orientation Course and Information Technology Training?

A consolidated list of exemptions granted by the Council to the converted students i.e. converted from erstwhile Intermediate/ Professional Education (Course – II)/ Professional Competence Course (PCC) to Intermediate (IPC) Course is given below:

Sl.

 

 

 

 

 

 

Eight months study course

Information Technology

Orientation

 

Category of Students

Programme

 

No.

 

 

 

 

 

 

period in IIPCC

 

Training (ITT) in IIPCC

in IIPCC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Students

who

have

 

 

 

 

 

 

 

 

 

 

 

 

registered

 

for

the

Exempted on the basis of

 

 

 

 

 

 

 

 

erstwhile

Intermediate

 

 

 

 

 

 

 

 

Course

and

completed

having

completed

Produce

ITT

completion

 

 

1

their

articled

training

minimum

period

of

eight

certificate at the time of

Exempted

 

and

converts

to

months from the date of

registration

for

Final

 

 

 

Intermediate

 

 

(IPC)

registration

 

for

Course

 

 

 

 

 

 

 

Course

 

 

 

 

 

Intermediate Course

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Students

who

have

Exempted on the basis of

Produce

ITT

completion

 

 

 

 

registered

for

erstwhile

having

completed

certificate at the time of

 

 

2

A

Intermediate

 

and

then

minimum

period

of

eight

registration for

articled

Exempted

 

appeared

in

Professional

months from the date of

training

(CCT

completed

 

 

 

Education (Examination -

registration for

erstwhile

earlier is valid in IIPCC

 

 

 

 

II) and then converted to

Intermediate/ Professional

also)

 

 

 

 

 

 

 

Intermediate

 

 

(IPC)

Education

(Course –

II) or

 

 

 

 

 

 

 

 

 

Course

 

 

 

 

 

completed

eight

months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

study

course

period

in

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IIPCC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Produce

ITT

completion

 

 

 

 

Students

 

who

have

Exempted on the basis of

certificate at the time of

 

 

 

 

 

having

 

 

completed

joining for articled training

 

 

 

 

initially

registered

 

for

minimum

period

of

eight

or if the articled training

 

 

 

 

the

 

 

Professional

months

either

from

 

the

continuing/

 

completed

 

 

 

B

Education

(Course

II)

date

of

registration

in

produce

ITT

completion

Exempted

 

 

 

and then switched over/

Professional

Education

certificate at the time of

 

 

 

 

switching

 

over

 

to

(Course – II) or completed

registration

for

Final

 

 

 

 

Intermediate

(IPC)

eight months study course

Course

 

 

 

 

 

 

 

 

 

Course

 

 

 

 

 

period in IIPCC

 

 

 

 

(CCT completed earlier is

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

valid in IIPCC also)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exempted on the basis of

Produce

ITT

completion

 

 

 

 

Students

 

who

have

having

 

 

completed

 

 

 

 

 

minimum

period

of

eight

certificate at the time of

 

 

 

 

initially

registered

 

for

months

either

from

 

the

rejoining

 

for

 

balance

 

 

 

 

the

 

 

Professional

date

of

registration

in

period of

articled

training

 

 

 

 

Education

(Course

II)

Professional

Education

or if the articled training

 

 

 

C

and then

switched

over

(Course – II) or completion

continuing,

produce

ITT

Exempted

 

 

 

to

 

 

Professional

of

eight

months

after

completion

certificate

at

 

 

 

 

Competence

Course

joining

the

Professional

the time of registration for

 

 

 

 

(PCC)

and

then

 

to

Competence

Course

 

or

Final Course

 

 

 

 

 

 

 

 

Intermediate

(IPC)

completed

eight

months

(CCT completed earlier is

 

 

 

 

Course

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

study

course

period

in

valid in IIPCC also)

 

 

 

 

 

 

 

 

 

 

 

 

IIPCC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exempted on the basis of

Produce

ITT

completion

 

 

 

 

Students

 

who

have

certificate at the time of

 

 

 

 

registered

 

initially

 

for

having

completed

 

eight

rejoining

 

for

 

balance

 

 

 

 

Professional

Competence

months

after

joining

 

the

period of

articled

training

 

 

3

Professional  Competence

or if the

articled

training

Exempted

 

 

 

Course and then switched

Course or completed eight

continued,

produce

ITT

 

 

 

 

over

to

 

Intermediate

 

 

 

 

(IPC) Course

 

 

 

months study course period

completion

certificate

at

 

 

 

 

 

 

 

in IIPCC

 

 

 

 

 

 

the time of registration for

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Final Course

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shall I get the study materials on the same day on which prescribed registration forms are submitted?

Normally, students belonging to Mumbai, Chennai, Kolkata, Kanpur and New Delhi and other Branches as listed in the Chartered Accountants Prospectus - Scheme of Intermediate (Integrated Professional Competence) Course and Final Course are providing study materials on submission of the registration application form for the relevant course. Study materials are to be collected in person. For outstation students, study materials are sent by post which takes normal postal delivery time to reach the students.

 

What is eligibility requirement for appearing in the Intermediate (IPC) Examination?

A student who registers for IIPCC/ ATC through CPT route on or before 1st March will be eligible to appear in the November examination of the year and student who registers on or before 1st September will be eligible to appear in next May examination on completion of specified period of 8 months study course as on first day of the month in which examination is held.

Graduate/ Post Graduate route students shall be eligible to appear in the Intermediate (IPC) Examination on completion of 9 months of practical training.

 

Whether Intermediate (IPC) Course registration is valid for indefinite period?

No. Intermediate (IPC) Course registration is valid for 4 years. IIPCC students should have valid registration before applying for relevant Intermediate (IPC) Examination. Revalidation of registration shall be done for further period of 4 years before expiry of initial registration. Students can revalidate their registration any number of times before expiry of valid registration period. Fee for revalidation is Rs. 400/- for each revalidation.

 

When is the Intermediate (IPC) Examination (IIPCE) held? How to apply for IIPCE?

IIPCE is held twice a year i.e.in the month of May & November. A student has to follow the examination notification issued by the Examination Department of the ICAI and apply in the prescribed form alongwith the examination fee. The Examination Department will announce the examination centres in India and abroad in the notification and issues admit card.

 

What is the registration fee for IIPCC/ ATC?

A. Registration to IIPCC:

Students of CPT route and Direct Entry Scheme students are required to pay the registration fee for Intermediate (IPC) Course as per the fee table given in the First Part i.e. ‘A’.

It is clarified that students registering under Direct Entry Scheme are required to register for Intermediate (IPC) Course for Both Groups with or without the option of Accounting Technician Course.

 

B. Conversion fee for exiting registered students of CPT/ IIPCC:

Existing registered students of CPT or IIPCC through CPT route, if they fulfill the requirements under Direct Entry Scheme can convert to Intermediate (IPC) course under Direct Entry Scheme by paying registration fee as mentioned in the Second Part i.e. ‘B’.

It is clarified that students who have registered for Intermediate (IPC) Course through CPT route, in one of the Group are required to register for the remaining Group if not registered for Both Groups earlier, so as to convert to Intermediate (IPC) Course under Direct Entry Scheme. Such students may register for the course with or without the option of Accounting Technician Course.

 

C. Switch over fee for erstwhile Intermediate/ PE-II/PCC students:

Erstwhile Intermediate/ Professional Education (Course – II)/ Professional Competence Course (PCC) students shall be required to switch over to Intermediate (IPC) Course so as to continue their studies in Chartered Accountancy Course. Such students are required to pay conversion fee as mentioned in the Third Part ‘C’.

 

What are the subjects to be studied in Intermediate (IPC) Course/ATC?

Students of Intermediate (IPC) Course have to study 6 subjects of 7 papers in Two Groups, where as Accounting Technician Course (ATC) students have to study 4 subjects:

 

Intermediate (IPC) Course (IIPCC) subjects and papers: GROUP – I

Paper 1:   Accounting (100 marks)

Paper 2: Law, Ethics and Communication (100 marks) Part I: Law (60 marks)

Business Laws (30 marks) Company Law (30 marks)

Part II: Business Ethics (20 marks)

Part III: Business Communication (20 marks) Paper 3: Cost Accounting and Financial Management (100 marks)

Part I: Cost Accounting (50 marks) Part II: Financial Management (50 marks)

Paper 4:   Taxation (100 marks)

Part I: Income-tax (50 marks)

Part II: Service Tax (25 marks) and VAT (25 marks)

 

GROUP – II

Paper 5: Advanced Accounting (100 marks) Paper 6: Auditing and Assurance (100 marks)

Paper 7: Information Technology and Strategic Management (100 marks) Section A: Information Technology (50 marks) Section B: Strategic Management (50 marks)

The level of knowledge expected of students in the above subjects is ‘working knowledge’. Details of syllabus may be had from www.icai.org.

 

Accounting Technician Course (ATC) subjects and papers:

Paper 1:   Accounting (100 marks)

 

Paper 2:   Law, Ethics and Communication (100 marks)

Part I: Law (60 marks)

Business Laws (30 marks)

Company Law (30 marks)

Part II: Business Ethics (20 marks)

Part III: Business Communication (20 marks)

 

Paper 3:   Cost Accounting and Financial Management (100 marks)

Part I: Cost Accounting (50 marks)

Part II: Financial Management (50 marks)

 

Paper 4:   Taxation (100 marks)

Part I: Income-tax (50 marks)

Part II: Service Tax (25 marks) and

VAT (25 marks)

 

What is Study Package?

The Board of Studies provides a comprehensive study package of all subjects, Study Materials, Revisionary Test Papers, Suggested Answers and Supplementary Study Materials nd also provides Mock Test Papers for students self evaluation. The Board of Studies also supplies information technology training modules and training guide to students while undergoing 100 Hours Information Technology Training (ITT).

 

What is the mode of imparting theoretical education?

The Board of Studies imparts theoretical instruction through distance education mode to the students of the CPT course, Intermediate (IPC) Course, ATC and Final course. A wide array of modern methods are also used for imparting theoretical education which include-

  • CDs in e-book form on various topics of CPT, Intermediate (IPC) Course, ATC and Final Course;
  • Lectures through Web TV, e-learning etc. and
  • Guidance through guidance@icai.org.

In addition, the Board of Studies organizes classroom lectures through its Regional Councils and Branches, as well as accredited institutions.

 

What are the different modules for oral coaching?

There are two module of oral coaching/ classroom lecturer organized by the Board of Studies through Regional Councils and Branches of the ICAI and accredited institutions. A student can opt either of the oral coaching modules:

Module I

Crash course comprising of 100 days

3 hours per day

Total teaching

 

Crash Course Module

hours = 300

 

 

 

 

 

 

Module II

Regular course comprising of 175 days

2 hours per day

Total teaching

 

Regular Course Module

hours = 350

 

 

 

 

 

 

 

Where can students get the list of accredited institutions?

Students can get the accredited institutions list by visiting our website www.icai. org > Students > Chartered Accountancy Course > Scheme of Education and Training > Intermediate (IPC) Course > Accreditation.

 

Is there any fee for undergoing oral coaching modules?

Yes, fee to be charged for different modules of oral coaching will be fixed by concerned Regional Councils/ Branches of the Institute or Accredited institutions.

 

What is Information Technology Training (ITT)? When will it commence?

Under present scheme of Education, Training and Examination, Intermediate (IPC) Course / ATC students needs to undergo 100 hours ITT either before appearing for the Intermediate (IPC) Examination but necessarily required to complete before joining for the articled training. Students are advised to complete this course at the earliest so as to get the benefit of preparing for the Group II Paper – 7 Information Technology and Strategic Management paper.

 

Who will conduct this training?

The 100 Hours ITT training is organized by the Institute in its own Computer Centres located at different parts of the country i.e. at regional offices and branches of the ICAI. The list of such ITT Centres is available at www.icai.org > Students > Chartered Accountancy Course > Scheme of Education and Training > 100 Hours Information Technology Training > List of accredited Regional Offices and Branches.

 

Is there any separate fees for undergoing the IT Training?

Yes. Presently the Institute charges a fee of Rs.4000/- for undergoing IT Training for its students.

 

What is Orientation Programme and is it compulsory? What are the contents covered in Orientation Programem?

As per the requirement of Education, Training and Examination, students are compulsorily required to undergo 35 Hours Orientation Programme scheduled for one week either before appearing for the examination but necessarily required to complete before joining for the articled training.

In Orientation Programme student are taught minimum basic requirements regarding

Personality Development, Communication Skills, Office Procedures, Business Environment, and General Commercial Knowledge etc.

 

Who imparts the Orientation Programme? What is the fee for Orientation Programme?

35 Hours Orientation Programmes are organized by Regional offices and Branches of the Institute. Presently, the Institute charges a fee of Rs. 3000/- for undergoing Orientation Programmes for its students.

 

Will the Board of Studies provide any study materials for ITT?

Yes. The Board of Studies provides a set of study modules along with 7 CDs covering various topics of the ITT which student should study while undergoing the training. This will be made available alongwith the study materials.

 

Is there any exemption available from ITT to students who convert from PE-II/PCC?

Students who have already undergone 250 hours Compulsory Computer Training under PE-II course or students who under gone 100 hours Information Technology Training under PCC are exempted from undergoing IT training under Intermediate (IPC) Course/ATC. Intermediate students who have converted or converting to Intermediate (IPC) Course/ ATC are required to undergo IT training, if they have not under gone the same earlier. They are required to produce ITT completion certificate at the time of joining for articled training or if the articled training continuing/ completed they are required to produce ITT completion certificate at the time of registration for Final Course.

 

What is the duration of articled training under Intermediate (IPC) Course and when can a student need to undergo article training?

In Intermediate (IPC) Course, duration of article training is 3 years and students can join for article training on passing of Group-I/ Both Groups of Intermediate (IPC) Examination and on completion of 35 hours Orientation Programme and 100 hours Information Technology Training (ITT).

Students who register only for ATC are required to undergo, Orientation Programme and Information Technology Training (ITT) before appearing for the first time in Accounting Technician Examination (ATE). Such students after passing ATE, required to undergo twelve months work experience as per the guidelines issued at FAQ Sl. No. 29 in order to obtain Accounting Technician Course (ATC) certificate.

 

What is the eligibility criterion to appear in the Intermediate (IPC) Examination/ Accounting Technician Examination (ATE)?

 

Eligibility Criteria to appear in the Intermediate (IPC)/ Accounting Technician Examination as:-

(i)           Applicable for students who have registered for the Intermediate (IPC) Course either on passing CPT and Senior Secondary (10+2) Examination or after passing intermediate level examination of The Institute of Cost Accountants of India or The Institute of Company Secretaries of India

Such candidates shall be eligible for admission to the Intermediate (Integrated Professional Competence) Examination if they –

(a)          are registered for the Intermediate (Integrated Professional Competence) Course; and

(b)         have undergone a study course for a period of eight months commencing from the date of registration to the Course.

Note: Students registered exclusively for Accounting Technician Course (ATC) are required to complete 35 hours Orientation Course and 100 hours Information Technology Training (ITT) before appearing for the first time in Accounting Technician Examination.

 

(ii)         Applicable for students who have registered for the Intermediate (IPC) Course on the basis of securing prescribed percentage of marks in Graduation/ Post Graduation:

Such candidates shall be eligible for admission to the Intermediate (Integrated Professional Competence) Examination if they –

(a)        are registered for the Intermediate (Integrated Professional Competence) Course; and

(b)         have completed nine months of practical training (including study course for a period of eight months which shall commence from the date of registration to the Course).

 

 What is the work experience in ATC? What are the guidelines to be followed while imparting the work experience under ATC?

The unique feature of the Accounting Technician Course (ATC) curriculum is the supportive and complementary 8 months study course period, 100 Hours Information Technology Training (ITT), 35 Hours Orientation Programme and 12 months practical work experience.

 

Guidelines for Imparting Accounting Technician Training – 12 months Work Experience:

  1. A candidate who has registered for the Accounting Technician Course (ATC) and has passed Accounting Technician Examination (ATE) (Group I level examination of the Intermediate (IPC) examination) is eligible for undergoing work experience.
  1. Member employed in an industrial / commercial / financial / service / not for profit organization or company, can impart 12 months work experience to students who have passed Accounting Technician Examination, subject fulfilling the following conditions -

(a)         A member who is employed in an industrial / commercial / financial / service / not for profit organization and company duly approved by the                Institute would be eligible to impart Accounting Technician Training to the eligible candidates.

(b)         Criteria for the selection of industrial / commercial / financial / service / not for profit organization or company:

(i)     Paid up capital minimum Rs. 50 lakhs; or

(ii)    Fixed assets minimum Rs.1 crore; or

(iii)   Turnover Rs.10 crores; or

(iv) Gross receipts (in the case of not for profit organization they should be registered under a statute) – Rs.2 crores.

(c)

Eligibility for members of the ICAI:

 

 

Experience of the members in years

Number of vacancies

 

ACA with less than three years

1

 

ACA with three years and above

2

 

FCA with less than five years

5

 

FCA with five years and above

10

 

(d)         The period of the Accounting Technician work experience shall be one year.

(e)         The working hours for the Accounting Technician Trainee shall be in accordance with the working hours of the organization in which he gets training.

 

In the case of a member in practice

(a)           a member in practice would also be eligible to impart Accounting Technician Training to the eligible candidates.

(b)         The period of training shall be one year.

(c)          The Accounting Technician Trainee will be eligible for such stipend as fixed by the member.

 

(d)            The working hours for the Accounting Technician Trainee shall be 35 hour per week to be regulated by the principal in accordance with the                           guidelines to be issued by the Council from time to time.

On completion of the training period, the principal / organization is required to issue a certificate in respect of the training.

 

In which areas Accounting Technician Trainee undergoes 12 months practical work experience?

The principal shall impart training to the Accounting Technician Trainee in the areas of accounting, taxation, financial management, corporate affairs and information technology as given hereunder :

  1. Accounting
  • Undertaking specific work relating to cash accounting, sales accounting, purchase accounts, bank accounts, journals, etc.
  • Maintaining of primary books of accounts
  • Preparation of reconciliations
  • Preparation of accounts from incomplete records
  • Finalization of accounts and notes to financial accounts
  • Preparation of financial statements.

 

  1. Taxation
  • Computing of total income, deductions, rebates, reliefs and tax payable by the assesses
  • Preparation and filing of Return of income, TDS returns and other documents
  • Preparation and filing of various returns under VAT, service tax etc.

 

  1. Information Technology
  • Data creation and analysis using databases and spread sheet program
  • Computer applications in areas like inventory control, financial accounting, payrolls, share accounting, sales accounting, invoicing etc.
  • Preparation of system flow chart
  • Knowledge of internets and computer fraud detection techniques.

 

iv.       Financial Management

  • Preparation of projected financial statements
  • Processing of loan applications with banks, financial institutions etc.
  • Projection of working capital and computation of working capital requirements
  • Preparation of budget.

 

v.        Corporate Affairs

  • Applying for and obtaining name approval
  • Drafting Memorandum and Articles of Association
  • Matters relating to incorporation of a company
  • Filing of various returns with the Registrar of Companies
  • Participation in the work relating to issue of shares, debentures etc including compliance of SEBI guidelines

 

Note: The areas indicated above for training are only illustrative and not exhaustive. The exact scope of Training Programme will be at the discretion of the member in Charge of Training based on the nature of the Organization.

 

Whether a student who has already completed Article Training and passed both groups of Intermediate/PEE-II/PCE has to undergo for 12 months practical work experience for obtaining Accounting Technician Certificate?

No. Students who have passed either the Professional Competence Examination or Professional (Education – II) Examination or erstwhile Intermediate Examination in its entirety or first examination or was exempted from passing the first examination under that regulation and has completed the prescribed period of practical training as was required for admission as a member is eligible for grant of Accounting Technician Certificate without undergoing 12 months work experience. They can fill the prescribed application form from as available from www.icai.org > Students > Course Registration Form > Application for Grant of Accounting Technician Certificate and submit the same alongwith a copy of articled training completion certificate and passing details to their concerned Regional Office for verification of articled completion details and forward to Examination Department. Examination Department on verification of passing details issues ATC certificates to candidates.

It is clarified that students who have registered for Intermediate (IPC) Course alongwith ATC shall be required to complete either 12 months work experience or prescribed period of articled training before applying for ‘Accounting Technician Certificate’.

Further, it is clarified that partial completion of articled training period cannot be treated as completion of 12 months work experience nor based on that ‘Accounting Technician Certificate’shall be issued.

Students who have registered exclusively for ATC are required to undergo 12 months practical work experience before applying for ATC certificate.

 

What are the requirements for Passing the Intermediate (IPC) Examination (IIPCE)/ Accounting Technician Examination (ATE)

[Applicable to candidates appearing in Intermediate (IPC) Examination under the syllabus as may be specified by the Council under sub-regulation (3) of regulation 28E]

(1)  A candidate may appear in Group I or Group II level(s), separately or simultaneously or in a Unit comprising of a set of papers of Group I and / or Group II.

 

(2)   A candidate, other than a candidate who has opted for Accounting Technician level, shall ordinarily be declared to have passed the Intermediate (IPC) Examination, if he –

(a)  completes the Orientation Course for such period and in such manner and within such time as may be specified by the Council from time to time; and

(b)  passes in both Group I and Group II levels.

 

(3)   A candidate, who has opted for the Accounting Technician level, shall be declared to have passed in that level, if he –

(a)  passes in Group I level;

(b)  completes the Orientation Course for such period and in such manner and within such time as may be specified by the Council from time to time; and

(c)  completes the practical work experience in accounting and related fields for a period not less than twelve months in such manner as may be specified by the Council from time to time;

Provided that a candidate, who has passed either the Professional Competence Examination under the syllabus as per the sub-regulation (3) of Regulation 28C or Professional Education (Examination – II) under the syllabus as per sub-regulation (5) of Regulation 28B of these regulations or Intermediate Examination under these regulations or the Chartered Accountants Regulations, 1964 or Intermediate or the first examination under the Chartered Accountants Regulations, 1949 or was exempted from passing the first examination under that regulation and has completed the prescribed period of practical training as was required for admission as a member, shall be eligible for grant of Accounting Technician Certificate on making an application to this effect and on compliance with such other conditions as may be specified by the Council from time to time.

 

(4)  A candidate shall ordinarily be declared to have passed in both the groups simultaneously, if he

(a)  secures at one sitting a minimum of 40 per cent marks in each paper of each of the groups, viz., Group I and Group II levels, and minimum of 50 per cent marks in the aggregate of all the papers of each of the groups; or

(b)  secures at one sitting a minimum of 40 per cent marks in each paper of both the group, viz., Group I and Group II levels, and a minimum of 50 per cent marks in the aggregate of all the papers of both the groups taken together.

 

(5)  A candidate shall be declared to have passed in Group I level or Group II level or unit, as the case may be, if he secures at one sitting a minimum of 40 per cent marks in each paper of the group/ unit and a minimum of 50 per cent marks in the aggregate of all the papers of that group/ unit.

[For information regarding Unit(s) applicable to candidates who have already passed any one of the groups under erstwhile Intermediate Examination as per syllabus under paragraph 2A of Schedule B of the Chartered Accountants Regulations, 1988 or Professional Education (Course-II) under sub-regulation (5) of regulation 28 B or Professional Competence Course under sub-regulation (3) of regulation 28 C of the Chartered Accountants Regulations, 1988, candidates may refer the table given below at Sl. No. 6.]

 

(6) A candidate, who has passed in any one but not in both the groups either of the Professional Competence Examination under the syllabus as specified by the Council under sub-regulation (3) of the regulation 28C or Professional Education (Examination –II) under the syllabus as specified by the Council under sub-regulation (5) of regulation 28B effective from October, 2001, the examination for which commenced from November, 2002 or of the Intermediate Examination as per syllabus under paragraph 2A of Schedule ‘B’ to the Chartered Accountants Regulations, 1988, shall be eligible for exemption in the corresponding paper or papers, if the corresponding paper(s) exists in the new syllabus as may be specified by the Council.

 

UNIT SCHEME UNDER INTERMEDIATE (IPC) EXAMINATION

INTERMEDIATE (IPC) EXAMINATION (IIPCE)

 

DETAILS OF PAPERS IN WHICH CANDIDATES ARE RE QUIRED TO APPEAR AND PASS IN ONE SITTING AS A UNIT CANDIDATE IN IIPCE

 

STUDENTS WHO HAVE PASSED GROUP-I IN INTERMEDIATE EXAMIANTION UNDER PARAGRAPH 2A OF SCHEDULE ‘B’ OR PROFESSIONAL EDUCATION

(EXAMINATION– II ) EXAMINATION OR PROFESSIONAL COMPETENCE EXAMINATION

Student to pass Group I of IIPCE has

Student to pass Group II of IIPCE has to

Student to pass Both Groups of IIPCE has

 

to appear

appear

to appear

 

UNIT 4

 

UNIT 8

 

UNIT 6

 

 

Group I Paper 3 : Cost Accounting and

Group I Paper 3 : Cost Accounting and

 

 

Financial Management

 

Financial Management

Group II Paper 7 : Information Technology

 

Group I Paper 4 : Taxation

 

 

and Strategic Management

 

 

Group II Paper 7 : Information Technology

 

Group I Paper 4 : Taxation

 

 

 

and Strategic Management

 

 

 

 

 

STUDENTS WHO HAVE PASSED GROUP-II

IN INTERMEDIATE EXAMIANTION UNDER PARAGRAPH 2A OF SCHEDULE ‘B’ OR PROFESSIONAL EDUCATION (EXAMINATION– II) EXAMINATION OR PROFESSIONAL COMPETENCE EXAMINATION

Student to pass Group II of IIPCE has to

Student to pass Group I of IIPCE has to

Student to pass Both Groups of IIPCE has to

 

appear

appear

appear

 

UNIT 5

UNIT 7

UNIT 9

 

 

 

 

Group II Paper 5 : Advanced

Group I Paper 1 : Accounting

Group I Paper 1 : Accounting

 

Accounting

Group I Paper 2 : Business Laws, Ethics and

 

 

 

 

Group I Paper 2 : Business Laws, Ethics

Communication

 

Group II Paper 6 : Auditing and

Group II Paper 5 : Advanced Accounting

 

and Communication

 

Assurance

Group II Paper 6 : Auditing and Assurance

 

 

 

 

(7) The Council may frame guidelines to continue to award exemption in a paper or papers to a candidate, granted earlier in the Professional Education (Examination – II) under the syllabus as specified by the Council under the syllabus as specified by sub -regulation (5) of regulation 28B or in the Professional Competence Examination under the syllabus as specified by sub-regulation (3) of regulation 28C for the unexpired chance or chances of the exemption in the corresponding paper or papers, as may be specified by the Council, in which he has secured exemption if the corresponding paper exists or papers exists in the new syllabus as may be specified by the Council. On appearing in the examination of the corresponding paper or papers in which he had failed, he shall be declared to have passed the examination if he secures at one sitting a minimum of 40 per cent marks in the corresponding paper or papers in which he had failed earlier and a minimum of 50 per cent marks in the aggregate of all the papers of the group including the marks of the paper or papers in which he had earlier been granted exemption by the Council.

In other words, a Professional Competence Course student who has been granted an exemption under Regulation 37 B (6) in one or more paper(s) shall continue to enjoy the said exemption(s) in the corresponding paper(s) under Intermediate (IPC) Examination/ Accounting Technician Examination for the unexpired chances, if any, as shown below:

 

Paper-Wise Exemption to the candidates appearing in Intermediate (IPC) Examination/ Accounting Technician Examination for the un-expired chance(s) on the basis of having secured a minimum of 60 percent marks in a paper in the earlier examinations

EXEMPTIONS CONVERSION TABLE – PCC Papers Vs. Intermediate (IPC) Course papers

Exemption granted under Regulation 37B (6) of the

Corresponding Paper-wise exemption in Intermediate

 

(IPC) Examination (IIPCE)/ Accounting Technician

 

Professional Competence Examination (PCE) of the

 

Examination (ATE) under Regulation 37C (7) of the

 

Chartered Accountants Regulation, 1988 in paper/s

 

Chartered Accountants Regulations, 1988

 

 

 

 

Group I

 

Group I

Paper 1: Accounting

 

and

 

Paper 1: Advanced Accounting

 

Group II

 

 

 

 

Paper 5: Advanced Accounting

 

Group I

Group II

 

Paper 2: Auditing and Assurance

Paper 6: Auditing and Assurance

 

Group I

Group I

 

Paper 3: Law, Ethics and

Paper 2: Business Laws, Ethics and

 

Communication

Communication

 

Group II

Group I

 

Paper 4: Cost Accounting and

Paper 3: Cost Accounting and

 

Financial Management

Financial Management

 

Group II

Group I

 

Paper 5: Taxation

Paper 4: Taxation

 

Group II

Group II

 

Paper 6: Information Technology

Paper 7: Information Technology

 

and Strategic Management

and Strategic Management

 

 

(8) Notwithstanding anything contained in sub-regulations (1) to (7) above, a candidate who has appeared in all the papers comprised in a group/ unit and fails in one or more papers comprised in a group/ unit but secures a minimum of 60 per cent of the marks in any paper or papers of that group shall be eligible to appear at any one or more of the immediately next three following examinations in the paper or papers in which he secured less than 60 per cent marks. He shall be declared to have passed in that group/ unit if he secures at one sitting a minimum of 40 per cent marks in each of such papers and minimum of 50 per cent of the total marks of all papers of that group/ unit including the paper or papers in which he had secured a minimum of 60 per cent marks in the earlier examination referred to above. He shall not be eligible for any further exemption in the remaining paper(s) of that group/ unit until he has exhausted the exemption already granted to him in that group/ unit.

 

The implications of above paragraphs are clarified below for general information of candidates:

a)  That in order to derive benefit of this proviso, a candidate who has failed in a group/ unit, should have secured a minimum of 60 marks in any paper/s of the group.

b)  That the above exemption is automatic and will be found indicated in the statement of marks issued to the candidate.

c)  That the marks of 60 or more secured in one or more papers mentioned in sub para (a) above are carried forward automatically for the immediately next three following examinations.

d)  That the candidates will be declared to have passed in the said group/ unit in any one of the next three following examinations if he secures in a single sitting a minimum of 40 percent marks in each of the other papers and an aggregate of 50 percent marks. For the purpose of arriving at the aggregate as already stated in sub-paragraph (c) above, 60 marks or more secured earlier will also be taken into consideration.

e) That the exemption will be granted only when a candidate is present in all papers of the group/ unit. The candidate is not eligible for any further exemption in that group/ unit under this proviso in the next three following examination (i.e. till the validity of the exemption already granted).

 

What are the options available to the student after passing ATC?

Student who completes the Accounting Technician Course can register themselves for Intermediate (IPC) Course’s second group and for articled training for a period of 3 years. Students after passing Group II of IIPCE can register for Final Course. Such students can appear in CA Final Examination during last 6 months of 3 years of articled training. These students required to undergo two Courses on General Management and Communication Skills for 15 days each, first during the first year articled training and the second after completion of 18 months articled training but before completion of articled training. Students are also required to undergo Advanced course on Information Technology Training during the third of practical training but before appearing for the Final Examination. Students after completing the above requirements can enroll as a member of ICAI and designate as “Chartered Accountant”.

 

Whether the student can take up employment during the period of 8 months course study period?

No. students are not allowed to take up employment during 8 months study course period. But they can pursue their graduation course during the study course period under IIPCC scheme of Education, Training and Examination.

 

What is the eligibility for admission to practical training under IIPCC? What is the duration of articled training?

Admission to Practical Training (Articled Training):

(i)           Students of CPT route and students who have passed Intermediate level examination of The Institute of Cost Accountants of India or The Institute of Company Secretaries of India shall be eligible for admission to three years articled training on -  

  • Passing of 1st Group or Both Groups of Intermediate (Integrated Professional Competence) Examination; or Accounting Technician level Examination;
  • Completion of Information Technology Training; and
  • Completion of Orientation Course

 

Note: Please note that student who passes only Second Group cannot start his/her articled training.

(ii)         Students who have registered under Direct Entry Scheme i.e. Commerce Graduates or Post Graduates or Non-Commerce Graduates or Post Graduates with specified percentage of marks shall be eligible for admission to three years articled training, on completion of -  

  • Information Technology Training; and
  • Orientation Course

 

What are the objectives of practical training?

The unique requirement of practical training is instrumental in shaping a well-rounded professional to ensure that students have an opportunity to acquire on-the-job work experience of a professional nature. Such a practical training:

  • Inculcates a disciplined attitude for hard work;
  • Develops necessary skills in applying theoretical knowledge to practical situations;
  • · Provides exposure to overall socio-economic environment in which organisations operate; and
  • · Develops ethical values.

The entire period of practical training can be served with a practicing member or it can be served partly with a practicing member and partly in an approved industrial establishment as an Industrial Trainee.

The period of such industrial training may range between 9 – 12 months during the last year of the prescribed period of practical training. Only students of Final Chartered Accountancy Course are eligible for Industrial training.

 

Whether student gets any stipend during the practical training?

Yes. Student while undergoing Articled Training is eligible for stipend. The present rate of minimum stipend payable to students is given below:

Classification of the

During the

During the

During the

 

second

remaining

 

normal place of service of

first year

year of

period of

 

the articled assistant

of training

 

training

training

 

(i) Cities/towns having a population of twenty

Rs.1000/-

Rs.1250/-

Rs.1500/-

 

lakhs and above.

 

 

 

 

(ii) Cities/towns having a population of four

Rs.750/-

Rs.1000/-

Rs.1250/-

 

lakhs and above but less than twenty lakhs.

 

 

 

 

 

(iii) Cities/towns having a population of less

Rs.500/-

Rs.750/-

Rs.1000/-

 

than four lakhs.

 

 

 

 

 

 

What is the entitlement of leave for an articled assistant?

An articled assistant shall earn leave at the rate of one-sixth of the period for which he has actually served excluding from such period, the period for which he has been on leave subject to a maximum of 180 days. Illustration of calculation of leave is given below:

 

Case 1: Illustrative cases of computation of leave for 1 year of articleship training

A. Total number of days served: 365*1

= 365

B. Less: Total leave taken (other than weekly holidays)

=

45

C. Actual period Served

= 320

D. Entitlement of leave (1/6th of the actual period served)(320/6)

=

53

EXCESS LEAVE: (B – D)

= NIL

 

Case 2: Illustrative cases of computation of leave for 2 year of articleship training

A. Total number of days served: 365*2

=

730

B. Less: Total leave taken (other than weekly holidays)

=

118

C. Actual period Served

=

612

D. Entitlement of leave (1/6th of the actual period served)(612/6)

=

102

EXCESS LEAVE: (B – D)

=

16

 

Case 3: Illustrative cases of computation of leave for 3 year of articleship training

A. Total number of days served: 365*3

= 1,095

B. Less: Total leave taken (other than weekly holidays)

=

188

C. Actual period Served

=

907

D. Entitlement of leave (1/6th of the actual period served)(907/6)

=

151

EXCESS LEAVE: (B – D)

=

37

 

Case 4: Illustrative cases of computation of leave for 3 year of articleship training

A. Total number of days served: 365*3

= 1,095

B. Less: Total leave taken (other than weekly holidays)

=

137

C. Actual period Served

=

958

D. Entitlement of leave (1/6th of the actual period served)(958/6)

=

160

EXCESS LEAVE: (B – D)

=

NIL

 

Whether intervening break between two examinations are treated as leave or on duty?

As per explanation to Regulation 59 (7) of the Chartered Accountants Regulations, 1988, intervening break between two examinations days, though not actually holiday, is treated as period actually served under articles. Further, it is clarified that if an articled assistant appears for one group, all intervening break for any reason, from the day of commencement of CA examination till the day of last examination of the concerned group and similarly, if an articled assistant appears for both groups then all intervening break for any reason from the day of commencement of CA examination and completion of both groups of the examination is treated as part of the training and the articled assistant is deemed to be on duty.

 

What is secondment?

In order to provide all round exposure to CA students, the Chartered Accountants Regulations, 1988 under Regulation 54 provides an option to undergo training under “Secondment Scheme”, under which a principal can depute his trainee to other practicing chartered accountant/s for a maximum period of one year to gain exposure in other areas of practice wherein, original principal may not be in a position to provide the same with the consent of article assistant concerned. During secondment the member with whom the articled assistant is seconded shall be required to pay the stipend and is responsible for imparting training and maintaining records and also required to forward the records to the principal on completion of period of secondment. The original principal is required to include particulars of the secondment in the report to the Council under Regulation 64.

 

 What is industrial training? What are the objectives of Industrial training?

An articled assistant who has passed the Intermediate (IPC) Examination and serving last year of articles training may, at his discretion, serve as an industrial trainee in any of the financial, commercial, industrial undertakings with minimum fixed assets of Rs. 1 crore; or minimum total turnover of Rs. 10 crores; or minimum paid-up share capital Rs. 50 lakhs; or such other Institute or organisation as may be approved by the Council from time to time for period of 9-12 months.

 

Whether student can undergo articled training outside India? If so, what are the guidelines in this regard?

GUIDELINES FOR TRAINING OF ARTICLED ASSISTANTS OUTSIDE INDIA:

i)   A Chartered Accountant is eligible to train an articled assistant provided his main occupation is the practice of the profession of Accountancy at the time of engaging articled assistants as well as in each of the qualifying years on the basis of which he claims eligibility to train articled assistants.

ii)  Any member engaged in any other business, occupation or holding part time certificate of practice is not entitled to train articled assistant.

iii)  Any member employed as a Paid Assistant or engaged as a partner in a foreign firm of Chartered Accountants will also be eligible to train articled assistants at par with the paid assistants with a firm of Chartered Accountants in India. All conditions applicable to the Paid Assistants in India would be applicable to them as well. However, in case of a foreign firm, such a foreign firm shall have at least one partner who is either a member of the Institute or who is eligible to become a member of the Institute, in terms of MRA.

iv) The members shall provide a professional address as envisaged in Regulation 2(1)(xiii) as well as an address in India.

As per the said Regulation, professional address means: -

a.  an address of the place where the member is carrying on his profession ( or where he is carrying on his profession at more than one place, the principal place), or

b.  if a member is employed, the place of employment or at his option the place of his

residence

c. the place of residence, if the member neither carried on the profession nor is employed. It may please be noted that an address in India is essential in any of the situation)

 

v)  The terms and conditions that may be made applicable for training articled assistant in India from time to time shall mutates mutandis apply for training of articled assistant abroad.

vi)  The period of practical training shall be 3 years or 3 ½ years, as applicable, under a practising chartered accountant abroad. However, the articled / audit assistants should have an option to undergo industrial training in accordance with the Regulations 51 & 72 of the Chartered Accountants Regulations, 1988 during the last one year of training.

vii)  The Industrial Training may be imparted by the Chartered Accountants working abroad in a financial, commercial or industrial undertaking with minimum fixed assets & minimum total turnover or minimum paid up capital as may be specified by the Council (whatever the value specified in terms of Indian currency may be deemed as applicable in foreign countries in their respective currencies) or such other organization or institution approved by the Council. In case of a member employed outside India, and eligible to impart Industrial training outside India, is unable to submit Annual Report/Balance sheet of the corporate/undertaking the member is working with, the member may submit a self declaration about the particulars of the undertaking alongwith the application.

viii)  The terms & conditions contained in Regulation 54 and Regulation 54A dealing with secondment shall be applicable to the articled assistants receiving training abroad.

ix)  The Principal shall send training reports as prescribed alongwith the service certificate to be issued in Form 109 & 108 as the case may be.

x)   The principal shall impart training in accordance with the guidelines contained in Training Guide. He shall maintain a record of practical training imparted by him to the articled assistant and report to the Council in the form prescribed in the training guide.

xi)   The rates, terms and conditions of stipend prescribed as payable to the articled assistants receiving training in India shall be applicable to the articled assistants receiving training aboard except that the same rate of stipend in equivalent terms specified in respective national currencies of the countries concerned instead of Indian rupees.

xii)   Regulation of training in terms of office hours and working days holidays will be applicable as per local office timings and laws. However, requirements of total training hours will be the same as applicable in India, the terms of which are given hereunder: -

a.The working hours for the articled assistants shall be 35 hours in a week excluding the lunch break.

b.The office hours of the Principal for providing article training to the articled assistant shall not be generally before 9.00 a.m. or after 7.00 p.m.

c. The normal working hours for the articled assistant shall not start after 11.00 a.m. or end before 5.00 p.m.

d.The working hours for the articled assistants should not exceed 35 hours in a week excluding the lunch break and normally an articled assistant be required to work during the normal working hours fixed for articled assistants.

e.In case of exigencies of work with Principal, an article assistant may be required to work beyond his / her normal working hours. However, under such circumstances, the aggregate number of working hours shall not exceed 45 hours per week. The requirement to work beyond 35 hours in a week should not be a practice but only in exceptional circumstances.

Further, where the articled assistant is required to work beyond normal working hours, and aggregate of such hours exceed 35 hours per week, he / she shall be entitled to compensatory leave calculated with reference to number of completed working hours, over and above, 35 hours per week.

Further conduct of training will be regulated as per provisions of the relevant Regulations as follows: -

 

Regulation 60: Working hours of an Articled Assistant

“Subject to such directions as may be issued by the Council, the working hours of an articled assistant shall be 35 hours per week to be regulated by the Principal from time to time”.

 

Regulation 65: Articled assistant not to engage in any other occupation

“Without the previous permission of the Council, obtained on application made in the approved form (Form 112), no articled assistant shall, during the period of his service as an articled assistant, take any other course of study or training, whether academic or professional, or engage in any business or occupation.”

 

Regulation 66: Enquiries against articled assistant

“(1) Where a complaint or information of any misconduct or breach of Regulation 65 or breach of any of the covenants contained in the articles is received against an articled assistant from his principal or any other person, the President or the Vice- President as the Executive Committee may decide from time to time, may cause an investigation to be made

 

(2) The Executive Committee may, on a consideration of the report of the investigation and after giving the articled assistant an opportunity of being heard, make any of the following orders, namely;-

  1. direct that the papers be filed and the complaint be dismissed, if the Executive Committee finds that the articled assistant is not guilty of any misconduct of breach of Regulation 65 or breach of any of the covenants contained in the articles; or

ii.  if the articled assistant is found guilty, reprimand the articled assistant or cancel the registration of articles or direct that any period already served under such articles shall not be reckoned as service for the purpose of the period of practical training specified in Regulation 50.

 

(3) The articled assistant, the registration of whose articles has been cancelled under this regulation, shall not, except with the permission of the Executive Committee be retained or taken as an articled assistant or audit assistant by any member”.

 

Regulation 67: Complaint against the Principal

1)   Where an articled assistant makes a complaint against his principal on a matter concerning his training as an articled assistant, the President or the Vice- President as the Executive Committee may decide from time to time, may cause an investigation to be made and submit a report to the Executive Committee.

2)  The Executive Committee shall submit the report of the investigation to the Council with its recommendations.

3)  The Council may, on a consideration of the report of the Executive Committee, pass such order as it may consider expedient, including an order withdrawing the entitlement of the principal to train one or more articled assistants either permanently or for a specified period:

4)  The President or the Vice-President as the Executive Committee may decide from time to time, may, pending an investigation of the complaint, either terminate or suspend the articles and allow the articled assistant to be accepted as additional articled assistant by a member, notwithstanding anything contained in Regulation 43.

 

Whether student can pursue Graduation/ Post Graduation Course while undergoing Articled Training?

An articled/ audit assistant can pursue Graduation/ Post Graduation Course while undergoing practical training provided he takes the permission of the Council as per Regulation 65 and 78 of the Chartered Accountants Regulations, 1988. These Regulations state that an articled/ audit assistant cannot take up any other course of study or training, whether academic or professional, without prior permission of the council. The permission may be granted to an articled/ audit assistant, for pursuing one additional regular course of study provided the classes are not held between 9.30 a.m. to 5.30 p.m.

The students are advised to join graduation course either through IGNOU / NSOU / Bharathiar University /University of Madras or through correspondence course or through colleges whose timings do not clash with the timing of practical training and through Universities with whom the ICAI has entered into Memorandum of Understanding (MOU) to enable CA students to acquire University degrees. For details of MOU please visit Institute’s web site www.icai.org.

The students joining distance education programme of degree course of IGNOU / NSOU / Bharathiar University / University of Madras will get exemption from studying the subjects which are part of the curriculum of Intermediate (IPC) Course.

Only one additional course is permitted during the articled training period. Permission for second course will be considered only after receipt of documentary proof of either on completion or discontinuation of the course for which permission has been granted earlier.

 

Whether CA Course is recognized for pursuing Ph.D/ Fellow Programme from Universities and is it recognized for taking UPSC’s Class A and B Examinations?

Association of Indian Universities (AIU) has recognised Chartered Accountancy Qualification as equivalent to Post Graduate Degree in Commerce for pursuing Ph.D. Programme. Ninety Indian Universities and six Indian Institutes of Management recognised Chartered Accountancy Qualification as equivalent to Post Graduation for admitting the CA students to the Doctoral

 

Programme.

A student who has passed Final examination of the Institute of Chartered Accountants of India has been recognized for recruitment to Superior services / Posts under the Central Government. Accordingly, candidates possessing this qualification are eligible for admission to the Civil Services Examination , which is conducted by the Commission for recruitment to IAS, IPS and other Group ‘A’ / Group ‘B’ Central Services / Posts.

 

Is there any scholarship/ fee concessions are available for CA pursuing students?

Yes. Students who are pursing CA Course can avail the following scholarships/ fee concessions:

 

1.  Merit Scholarship: The students whose names appear at SI.No.l to 10 (in case the rank at SI. No.

 10  continues to SI. No. 11 or to SI. No. 12 or so on, all such rank holders) of the respective Merit lists of Common Proficiency Test (CPT), held in June/December, Intermediate (IPC) Course Examination held in May/ November every year are selected for award of Merit Scholarship @ Rs.1500/- and Rs. 2000/- per month respectively. Rank holders of Common Proficiency Test (CPT) who have registered for Intermediate (IPC) Course (Intermediate (IPC) Course Students) will get Scholarship for a period of 18 months while the Rank holders of Intermediate (IPC) Course (Final Students) will get for a maximum period of 30 months/remaining period of their articleship.

 

2.  Merit-cum-Need based Scholarship: All students (other than covered under Merit Scholarship) whose names appear in the Merit list of Rank holders of the Common Proficiency Test / Intermediate (IPC) Course and whose parents total income is not more than Rs. 1,50,000/- per annum are eligible to apply for award of Merit-cum-Need scholarship. The students who would be selected for award of scholarship will be granted @ Rs. 1500 p.m for 18 months to rank holders of CPT who have registered for Intermediate (IPC) Course and for a maximum period of 30 months/ remaining period of articleship to rank holders of Intermediate (IPC) Course who have registered for articleships. Total 60 scholarships are awarded every year under this category.  

 

3. Need-based and weaker sections Scholarship: Students of Intermediate (IPC) Course and Final Course are eligible to apply for award of Need- based Scholarships provided their parents’ annual income is not more than Rs. 1,00,000/- per annum. The students who would be selected for award of scholarship will be granted @ Rs. 1250 p.m for 18 months to Intermediate (IPC) Course students and for a maximum period of 30 months/remaining period of articleship to Final students. Total 200 scholarships are awarded every year under this category.

Two scholarships are reserved every year for physically handicapped students. The payment of scholarship is liable to be discontinued in case the recipient does not pass the Intermediate (IPC) Course/Final Examination in the first two eligible chances.

For SC/ST/OBC category students, an additional amount of Rs.100/- p.m. will be paid on submission of a certificate/ documentary proof duly attested by a gazetted officer or a member of the Institute.

 

4. Scholarships under Endowment Schemes: In addition to the above, scholarships are also awarded under different Endowment Schemes created by individual donors/ Joint Corpus formed by donors. The criteria applied are the same as in case of Need-based scholarship.

First three rank holders of CPT will be granted full exemption from the payment of registration fees at the time of registration for Intermediate (IPC) Course including registration fee for 100 Hours Information Technology Training. Such fee exemption will be continued at the time of registration for Final Course provided the student passes both groups in Intermediate (IPC) Examination in the first attempt.

In other words the first three rank holders of CPT need not pay the Final fee if they pass the Intermediate (IPC) Examination in the first attempt.

Effective from November, 2010 examination onwards, top 10 rank holders of the Intermediate (Integrated Professional Competence) Examination and Final Examination are exempted from payment of fee for attending residential programme on Professional Skills Development Programme.

 

What are the concessions available for Differently abled students while pursing CA Course?

Differently abled students are defined as follows:

(a) Blindness – “Blindness” refers to a condition where a person suffers from any of the following conditions, namely:

  • total absence of sight;
  • visual acuity not exceeding 6/60 or 20/200 (snellen) in the better eye with correcting lenses; or
  • limitation of the field of vision subtending an angle of 20 degree or worse.

(b)   Low vision – “Low vision” means a person with impairment of visual functioning even after treatment or standard refractive correction but who uses or is potentially capable of using vision for the planning or execution of a task with appropriate assistive device.

(c)   Leprosy cured – “Leprosy cured” means any person who has been cured of leprosy but is suffering from

  • loss of sensation in hands or feet as well as loss of sensation and paresis in the eye and eye-lid but with no manifest deformity;
  • manifest deformity and paresis but having sufficient mobility in their hands and feet to enable them to engage in normal economic activity;
  • extreme physical deformity as well as advanced age which prevents him from undertaking any gainful occupation, and the expression “leprosy cured” shall be constructed accordingly.

(d) Hearing impairment – “Hearing impairment” means loss of sixty decibels or more in the better ear in the conversational range of frequencies.

(e)  Locomotors disability – “Locomotors disability” means disability of the bones, joints or muscles leading to substantial restriction of the movement of the limbs or any form of cerebral palsy.

(f)  Permanent and total loss of voice.

(g)  Any other physical disability which is not covered above, but permanently suffering from 50% or above, as the case may be, submit an application for consideration on case to case basis.

A differently abled student has to submit a certificate of suffering from disability, certified by a physician/ surgeon/oculist working in a Government hospital, as the case may be.

Differently abled students, who are suffering from a disability as stated above, are eligible for full exemption from payment of registration fees at Intermediate (IPC) Course and Final levels.

 

Differently abled students are exempted from Orientation Programme

Differently abled students, suffering from permanent disability of 50% or above are exempted from attending Orientation Programme. These students are also exempted from payment of fee related to Orientation Programme i.e. Orientation Programme registration fee of Rs. 1,000/- and course fee of Rs. 3,000/- for undergoing course.

 

Differently abled students are exempted from payment of ITT fee

Differently abled students, suffering from permanent disabilty of 50% or above are exempted from attending ITT classes, but they are required to self-study and pass two test papers specially designed for the purpose. These students are also exempted from payment of fee related to ITT i.e. registration fee of Rs. 2,000/- and course fee of Rs. 4,000/- for undergoing course.

 

What are the Reading Materials a student gets on registration of Intermeiidate (IPC) Course /ATC? – Which includes ITT training materials, Orientation materials?

Group I

Paper 1:   Accounting

Paper 2:   Law, Ethics and Communication

Paper 3: Cost Accounting and Financial Management Paper 4: Taxation

[Set of 10 books including Practice Manuals]

 

Group II

Paper 5:   Advanced Accounting

Paper 6:   Auditing and Assurance

Paper 7: Information Technology and Strategic Management [Set of 9 books including Practice Manuals]

Apart from the above, Institute will also supply IT Training materials and Orientation Programme Course materials on registration to the courses.

 

What are opportunities available for qualified CA?

A profession that imparts the best of technical skills in financial and management areas and abilities necessary for deciding and acting upon the high -pressure situations. The society has increasingly recognized the services of CAs in entire gamut of management consultancy including management accounting, management information and control systems, international finance, information technology and financial services sector. CAs today are part of the top management team and hold key positions in the corporate sector. Rapid changes taking place in the economy have further opened up new vistas of opportunities for the Chartered Accountants.

 

Does ICAI conduct Campus Placements?

Yes. The Institute organizes Campus Placement twice a year. Top Notch Companies participate and conduct recruitment process at various offices of ICAI.

 

Is there any grievance redressal mechanism available in the Institute?

Yes. Through E-Sahaayataa, queries of Students and Members or any other persons are replied by the concerned section/ department of the Institute at the earliest.

 

Final Course

Frequently Asked Questions (FAQs)

 

When student is admitted for CA Final Course?

Student after passing Intermediate/ Professional Education (Examination-II)/ Professional Competence Examination/ Integrated Professional Competence Examination (IPCE)/ Intermediate (IPC) Examination in its entirety can enroll for CA Final Course.

Students, who pass IPCE / Intermediate (IPC) Examination in its entirety, are required to register for Final course immediately and start preparation for Final Examination.

 

What is the Final Course registration fee payable by students who passes Integrated Professional Competence Examination (IPCE)/ Intermediate (IPC) Examination?

Student who has passed Integrated Professional Competence Examination (IPCE)/ Intermediate (IPC) Examination are required to pay the following fee while registering for Final Course:

Admission to Final

Registration Fee (INR)

Registration Fee (US$)

 

Course

 

 

 

 

After passing IPCE/

Rs. 10,000/- + Rs. 2,000 towards Article

750  +  50  towards  Article

 

Intermediate (IPC)

 

Registration Fee, if not paid earlier

Registration fee, if not paid earlier

 

Examination

 

 

 

 

 

What are the eligibility criteria for different scheme to appear in the Final Examination?

Eligibility criteria for appearing in the Final examination are given below:

Sl.

Category of Students

 

 

Eligibility Criteria to appear in the Final Examination

 

No.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Completed or completing prescribed period of articled

 

 

 

Students

who

have

registered

training i.e. 3 years (including excess leave, if any) on or

 

 

 

and

passed

Intermediate

before the last day of the month preceding the month in

 

1

examination and registered for

which the examination is held;

 

Final Course.

 

 

 

 

Or

 

 

 

(prescribed

Articled

training

Serving last 6 months (including excess leave, if any) of

 

 

 

period 3 years)

 

 

 

articled training as on the first day of the month in which

 

 

 

 

 

 

 

 

 

 

 

examination is held.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Completed or completing prescribed period of articled

 

 

 

Students

who

have

registered

training i.e. 3 years (including excess leave, if any) on or

 

 

 

and

 

passed Professional

before the last day of the month preceding the month in

 

 

A

Education

(Examination

– II)

which the examination is held;

 

 

and registered for Final Course

Or

 

2

 

(prescribed

Articled

training

Serving last 12 months (including excess leave, if any) of

 

 

 

period 3 years)

 

 

 

articled training as on the first day of the month in which

 

 

 

 

 

 

 

 

 

 

 

examination is held.

 

 

 

 

 

 

 

 

 

 

 

Students

who

have

initially

Completed or completing prescribed period of articled

 

 

B

registered

in

Professional

training i.e. 3½ years (including excess leave, if any) on

 

 

 

Education (Course – II) and

or before the last day of the month preceding the month

 

 

 

then

switched

over

to

 

 

 

 

Professional

Competence

in which the examination is held;

 

 

 

Course

(PCC)

and

registered

Or

 

 

 

for Final Course

 

 

 

Serving last 12 months (including excess leave, if any) of

 

 

 

(prescribed Articled

training

 

 

 

articled training as on the first day of the month in which

 

 

 

period 3½

years)

 

 

 

examination is held.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Students

 

who

have

initially

Completed or completing prescribed period of articled

 

 

 

registered

in

Professional

training i.e. 3½ years (including excess leave, if any) on

 

 

 

Education (Course – II) and

or before the last day of the month preceding the month

 

 

 

then

switched

over

to

in which the examination is held;

 

 

 

Professional

Competence

Or

 

 

C

Course

 

(PCC)

and

 

then to

Serving last 12 months (including excess leave, if any) of

 

 

Integrated

 

Professional

 

 

 

Competence

Course

(IPCC)/

articled training as on the first day of the month in which

 

 

 

Intermediate (IPC) Course and

examination is held.

 

 

 

registered for Final Course

 

 

 

 

 

(prescribed Articled

training

 

 

 

 

period 3½

years)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Students

 

who

have

initially

Completed or completing prescribed period of articled

 

 

 

registered

in

Professional

training i.e. 3 years (including excess leave, if any) on or

 

 

 

Education (Course – II) and

before the last day of the month preceding the month in

 

 

 

then

switched

over

to

which the examination is held;

 

 

 

Integrated

 

Professional

Or

 

 

D

Competence

Course

(IPCC)/

Serving last 12 months (including excess leave, if any) of

 

 

 

Intermediate

 

 

 

(IPC)

 

 

 

Examination and registered for

articled training as on the first day of the month in which

 

 

 

Final Course

 

 

 

 

examination is held.

 

 

 

(prescribed Articled

training

 

 

 

 

period 3

years)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Completed or completing prescribed period of articled

 

 

 

Students

who

have

registered

training i.e. 3½ years (including excess leave, if any) on

 

 

 

and

passed

Professional

or before the last day of the month preceding the month

 

 

A

Competence

Course

and

in which the examination is held;

 

 

registered for Final Course.

Or

 

 

 

(prescribed Articled

training

Serving last 6 months (including excess leave, if any) of

 

 

 

period 3½

years)

 

 

 

articled training as on the first day of the month in which

 

 

 

 

 

 

 

 

 

 

 

examination is held.

 

3

 

 

 

 

 

 

 

 

Students

who

have

registered

Completed or completing prescribed period of articled

 

 

 

initially

 

 

in

Professional

training i.e. 3½ years (including excess leave, if any) on

 

 

 

Competence Course

 

and

then

or before the last day of the month preceding the month

 

 

 

switched

 

over to

Integrated

in which the examination is held;

 

 

B

Professional

Competence

Or

 

 

Course/

 

 

Intermediate

(IPC)

 

 

 

Course and registered for Final

Serving last 6 months (including excess leave, if any) of

 

 

 

Course.

 

 

 

 

 

 

 

articled training as on the first day of the month in which

 

 

 

(prescribed Articled

training

examination is held.

 

 

 

period 3½

years)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Students

who

have

registered

Completed or completing prescribed period of articled

 

4

and

 

passed

Integrated

training i.e. 3 years (including excess leave, if any) on or

 

 

 

Professional

Competence

before the last day of the month preceding the month in

 

 

 

Course/

 

 

Intermediate

(IPC)

which the examination is held;

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Course and registered for Final Course.

(prescribed Articled training period 3 years)

Or

Serving last 6 months (including excess leave, if any) of articled training as on the first day of the month in which examination is held.

It is proposed that Final Course Students, before appearing for the Final Examination will be required to undergo Advance Course on Information Technology Training.

 

Whether students who have registered earlier in Final (Old) course, can continue in the present Final examination?

No. Students who have registered in Final (Old) Course earlier are required to convert to existing Final Course. As per the announcement dated 4th February, 2011, all Final students registered under Final (Old) course earlier are shifted automatically to the present Final Course with effect from May, 2012 examination without charging any conversion fee. Therefore, such students who have registered earlier in Final (Old) course, by collecting a letter from the concerned Regional office regarding shift from Final (Old) Course to existing Final course can appear in the present Final Examination.

 

Whether Final Course registration is valid for indefinite period?

No. Final Course registration is valid for 5 years. Final Course students should have valid registration before applying for relevant Final Examination. The count of 5 years shall be counted from the date of initial registration to the Final course. Students those who have registered in the then Final (Old) course also required to revalidate their registration before applying for relevant examination. Revalidation of registration shall be done for further period of 5 years before expiry of initial registration. Students can revalidate their registration any number of times before expiry of valid registration period. Fee for revalidation is Rs. 500/- for each revalidation. Students may revalidate their registration without paying any revalidation fee upto 31st December, 2013. In case student fails to apply for revalidation by 31st December, 2013 he/she then shall have to pay the revalidation fee of Rs. 500/- effective from 1st January, 2014. For format of application and further details students may visit www.icai.org.

 

What are the objectives of practical training?

The unique requirement of practical training is instrumental in shaping a well-rounded professional to ensure that students have an opportunity to acquire on-the-job work experience of a professional nature. Such a practical training:

  • Inculcates a disciplined attitude for hard work;
  • Develops necessary skills in applying theoretical knowledge to practical situations;
  • Provides exposure to overall socio-economic environment in which organisations operate; and
  • Develops ethical values.

The entire period of practical training can be served with a practicing member or it can be served partly with a practicing member and partly in an approved industrial establishment as an Industrial Trainee. The period of such industrial training may range between 9 – 12 months during the last year of the prescribed period of practical training. Only students of Final Chartered Accountancy Course are eligible for Industrial training.

 

Whether student gets any stipend during the practical training?

Yes. Student while undergoing Articled Training is eligible for stipend. The rate of stipend so payable to students is given below:

Classification of the

During the

During the

During the

normal place of service of

first year

second

remaining

the articled assistant

of training

year of

period of

 

 

 

 

 

 

training

training

 

 

 

 

 

 

(i) Cities/towns having a population of twenty

Rs.1000/-

Rs.1250/-

Rs.1500/-

 

lakhs and above.

 

 

 

 

(ii) Cities/towns having a population of four

Rs.750/-

Rs.1000/-

Rs.1250/-

 

lakhs and above but less than twenty lakhs.

 

 

 

 

 

(iii) Cities/towns having a population of less

Rs.500/-

Rs.750/-

Rs.1000/-

 

than four lakhs.

 

 

 

 

 

 

What is the entitlement of leave of an articled assistant?

An articled assistant shall earn leave at the rate of one-sixth of the period for which he has actually served excluding from such period, the period for which he has been on leave subject to a maximum of 180 days.

 

How to calculate Leave:

Case 1: Illustrative cases of computation of leave for 1 year of articleship training

A. Total number of days served: 365*1

= 365

B. Less: Total leave taken (other than weekly holidays)

=

45

C. Actual period Served

= 320

D. Entitlement of leave (1/6th of the actual period served)(320/6)

=

53

EXCESS LEAVE: (B – D)

= NIL

 

Case 2: Illustrative cases of computation of leave for 2 year of articleship training

A. Total number of days served: 365*2

=

730

B. Less: Total leave taken (other than weekly holidays)

=

118

C. Actual period Served

=

612

D. Entitlement of leave (1/6th of the actual period served)(612/6)

=

102

EXCESS LEAVE: (B – D)

=

16

 

Case 3: Illustrative cases of computation of leave for 3 year of articleship training

A. Total number of days served: 365*3

= 1,095

B. Less: Total leave taken (other than weekly holidays)

=

188

C. Actual period Served

=

907

D. Entitlement of leave (1/6th of the actual period served)(907/6)

=

151

EXCESS LEAVE: (B – D)

=

37

 

Case 4: Illustrative cases of computation of leave for 3 year of articleship training

A. Total number of days served: 365*3

= 1,095

B. Less: Total leave taken (other than weekly holidays)

=

137

C. Actual period Served

=

958

D. Entitlement of leave (1/6th of the actual period served)(958/6)

=

160

EXCESS LEAVE: (B – D)

=

NIL

 

Whether intervening break between two examinations are treated as leave or on duty?

The intervening break between two examinations days, though not actually holiday, is treated as period actually served under articles. Further, it is clarified that if an articled assistant

appears for one group, all intervening break for any reason, from the day of commencement of CA examination till the day of last examination of the concerned group and similarly, if an articled assistant appears for both groups then all intervening break for any reason from the day of commencement of CA examination and completion of both groups of the examination is treated as part of the training and the articled assistant is deemed to be on duty.

 

What is secondment?

In order to provide all round exposure to CA students, the Chartered Accountants Regulations, 1988 under Regulation 54 provides an option to undergo training under “Secondment Scheme”, under which a principal can depute his trainee to other practicing chartered accountant/s for a maximum period of one year to gain exposure in other areas of practice wherein, original principal may not be in a position to provide the same with the consent of article assistant concerned. During secondment the member with whom the articled assistant is seconded shall be required to pay the stipend and is responsible for imparting training and maintaining records and also required to forward the records to the principal on completion of period of secondment. The original principal is required to include particulars of the secondment in the report to the Council under Regulation 64.

 

What is industrial training? What are the objectives of Industrial training?

An articled assistant who has passed the Intermediate (IPC) Examination and serving last year of articles training may, at his discretion, serve as an industrial trainee in any of the financial, commercial, industrial undertakings with minimum fixed assets of Rs. 1 crore; or minimum total turnover of Rs. 10 crores; or minimum paid-up share capital Rs. 50 lakhs; or such other Institute or organisation as may be approved by the Council from time to time for period of 9-12 months.

 

Whether any notice in writing is required to the Principal before joining Industrial Training?

Yes, an articled assistant has to intimate his principal regarding his intention to take such industrial training at least three months before the date on which such training is to commence.

 

What is General Management and Communication Skills (GMCS) Course?

As per the requirement of Regulation 51A/72A of the CA Regulation, 1988 a student before applying for the membership of the Institute, required to complete the GMCS Course. As per the decision of the Council, a student required to undergo two GMCS Courses for 15 days each during the articled training period. GMCS- I Course is to be undergone during the first year of articled training and GMCS - II Course is to be undergone during 19 -36 months of articled training but before completion of articled training.

 

Is it compulsory to attend Four Weeks Residential Programme?

No. On optional basis, students may undergo Four Weeks residential Programme on ‘Professional Development Skills’ organised by the Institute for its students and members. Student needs to apply for undergoing such programme in response to Institute’s announcement. Further, student who has undergone this programme need not required to undergo second General Management and Communication Skills (GMCS – II) Course.

 

When to undergo an Advance Course on Information Technology Training?

As per the Regulation 51C /72C of the Chartered Accountants Regulation, 1988 an articled trainee is required to undergo Advanced course on Information Technology Training during the third year of articles training but before appearing for the first time in Final examination.

 

Whether student can undergo articled training outside India? If so, what are the guidelines in this regard?

 

GUIDELINES FOR TRAINING OF ARTICLED ASSISTANTS OUTSIDE INDIA:

i) A Chartered Accountant is eligible to train an articled assistant provided his main occupation is the practice of the profession of Accountancy at the time of engaging articled assistants as well as in each of the qualifying years on the basis of which he claims eligibility to train articled assistants.

ii)   Any member engaged in any other business, occupation or holding part time certificate of practice is not entitled to train articled assistant.

iii)  Any member employed as a Paid Assistant or engaged as a partner in a foreign firm of Chartered Accountants will also be eligible to train articled assistants at par with the paid assistants with a firm of Chartered Accountants in India. All conditions applicable to the Paid Assistants in India would be applicable to them as well. However, in case of a foreign firm, such a foreign firm shall have at least one partner who is either a member of the Institute or who is eligible to become a member of the Institute, in terms of MRA.

iv)  The members shall provide a professional address as envisaged in Regulation 2(1)(xiii) as well as an address in India.

 

(As per the said Regulation, professional address means: -

a. an address of the place where the member is carrying on his profession ( or where he is carrying on his profession at more than one place, the principal place), or b. if a member is employed, the place of employment or at his option the place of his residence

c. the place of residence, if the member neither carried on the profession nor is employed. It may please be noted that an address in India is essential in any of the situation)

v)  The terms and conditions that may be made applicable for training articled assistant in India from time to time shall mutates mutandis apply for training of articled assistant abroad.

vi)  The period of practical training shall be 3 years or 3 ½ years, as applicable, under a practising chartered accountant abroad. However, the articled / audit assistants should have an option to undergo industrial training in accordance with the Regulations 51 & 72 of the Chartered Accountants Regulations, 1988 during the last one year of training.

vii)  The Industrial Training may be imparted by the Chartered Accountants working abroad in a financial, commercial or industrial undertaking with minimum fixed assets & minimum total turnover or minimum paid up capital as may be specified by the Council (whatever the value specified in terms of Indian currency may be deemed as applicable in foreign countries in their respective currencies) or such other organization or institution approved by the Council. In case of a member employed outside India, and eligible to impart Industrial training outside India, is unable to submit Annual Report/Balance sheet of the corporate/undertaking the member is working with, the member may submit a self declaration about the particulars of the undertaking alongwith the application.

viii)    The terms & conditions contained in Regulation 54 and Regulation 54A dealing with secondment shall be applicable to the articled assistants receiving training abroad.

ix)  The Principal shall send training reports as prescribed alongwith the service certificate to be issued in Form 109 & 108 as the case may be.

x)   The principal shall impart training in accordance with the guidelines contained in Training Guide. He shall maintain a record of practical training imparted by him to the articled assistant and report to the Council in the form prescribed in the training guide.

xi)   The rates, terms and conditions of stipend prescribed as payable to the articled assistants receiving training in India shall be applicable to the articled assistants receiving training aboard except that the same rate of stipend in equivalent terms specified in respective national currencies of the countries concerned instead of Indian rupees.

 

xii)  Regulation of training in terms of office hours and working days holidays will be applicable as per local office timings and laws. However, requirements of total training hours will be the same as applicable in India, the terms of which are given hereunder: -

a.The working hours for the articled assistants shall be 35 hours in a week excluding the lunch break.

b.The office hours of the Principal for providing article training to the articled assistant shall not be generally before 9.00 a.m. or after 7.00 p.m.

c. The normal working hours for the articled assistant shall not start after 11.00 a.m. or end before 5.00 p.m.

d.The working hours for the articled assistants should not exceed 35 hours in a week excluding the lunch break and normally an articled assistant be required to work during the normal working hours fixed for articled assistants.

e.In case of exigencies of work with Principal, an article assistant may be required to work beyond his / her normal working hours. However, under such circumstances, the aggregate number of working hours shall not exceed 45 hours per week. The requirement to work beyond 35 hours in a week should not be a practice but only in exceptional circumstances.

Further, where the articled assistant is required to work beyond normal working hours, and aggregate of such hours exceed 35 hours per week, he / she shall be entitled to compensatory leave calculated with reference to number of completed working hours, over and above, 35 hours per week.

Further conduct of training will be regulated as per provisions of the relevant Regulations as follows: -

 

Regulation 60: Working hours of an Articled Assistant

“Subject to such directions as may be issued by the Council, the working hours of an articled assistant shall be 35 hours per week to be regulated by the Principal from time to time”.

 

Regulation 65: Articled assistant not to engage in any other occupation

“Without the previous permission of the Council, obtained on application made in the approved form (Form 112), no articled assistant shall, during the period of his service as an articled assistant, take any other course of study or training, whether academic or professional, or engage in any business or occupation.”

 

Regulation 66: Enquiries against articled assistant

“(1) Where a complaint or information of any misconduct or breach of Regulation 65 or breach of any of the covenants contained in the articles is received against an articled assistant from his principal or any other person, the President or the Vice- President as the Executive Committee may decide from time to time, may cause an investigation to be made

(2) The Executive Committee may, on a consideration of the report of the investigation and after giving the articled assistant an opportunity of being heard, make any of the following orders, namely;-

i. direct that the papers be filed and the complaint be dismissed, if the Executive Committee finds that the articled assistant is not guilty of any misconduct of breach of Regulation 65 or breach of any of the covenants contained in the articles; or

ii. if the articled assistant is found guilty, reprimand the articled assistant or cancel the registration of articles or direct that any period already served under such articles shall not be reckoned as service for the purpose of the period of practical training specified in Regulation 50.

(3) The articled assistant, the registration of whose articles has been cancelled under this regulation, shall not, except with the permission of the Executive Committee be retained or taken as an articled assistant or audit assistant by any member”.

 

Regulation 67: Complaint against the Principal

1)  Where an articled assistant makes a complaint against his principal on a matter concerning his training as an articled assistant, the President or the Vice- President as the Executive Committee may decide from time to time, may cause an investigation to be made and submit a report to the Executive Committee.

2)   The Executive Committee shall submit the report of the investigation to the Council with its recommendations.

3)  The Council may, on a consideration of the report of the Executive Committee, pass such order as it may consider expedient, including an order withdrawing the entitlement of the principal to train one or more articled assistants either permanently or for a specified period:

4)  The President or the Vice-President as the Executive Committee may decide from time to time, may, pending an investigation of the complaint, either terminate or suspend the articles and allow the articled assistant to be accepted as additional articled assistant by a member, notwithstanding anything contained in Regulation 43.

 

Whether CA Course is recognized for pursuing Ph.D/ Fellow Programme from Universities and is it recognized for taking UPSC’s Class A and B Examinations?

Association of Indian Universities (AIU) has recognised Chartered Accountancy Qualification as equivalent to Post Graduate Degree in Commerce for pursuing Ph.D. Programme. Ninety Indian Universities and six Indian Institutes of Managements recognised Chartered Accountancy Qualification as equivalent to Post Graduation for admitting CA students to the Doctoral

 

Programme.

A student who has passed Final examination of the Institute of Chartered Accountants of India has been recognized for recruitment to Superior services / Posts under the Central Government. Accordingly, candidates possessing CA qualification are eligible for admission to the Civil Services Examination , which is conducted by the Commission for recruitment to IAS, IPS and other Group ‘A’ / Group ‘B’ Central Services / Posts.

 

Is there any scholarship/ fee concessions are available for CA pursuing students?

Yes. Students who are pursing CA Course can avail the following scholarships/ fee concessions:

1.  Merit Scholarship: The students whose names appear at SI.No.l to 10 (in case the rank at SI. No.

 10  continues to SI. No. 11 or to SI. No. 12 or so on, all such rank holders) of the respective Merit lists of Common Proficiency Test (CPT), held in June/December, Intermediate (IPC) Course Examination held in May/ November every year are selected for award of Merit Scholarship @ Rs.1500/- and Rs. 2000/- per month respectively. Rank holders of Common Proficiency Test (CPT) who have registered for Intermediate (IPC) Course (Intermediate (IPC) Course Students) will get Scholarship for a period of 18 months while the Rank holders of Intermediate (IPC) Course (Final Students) will get for a maximum period of 30 months/remaining period of their articleship.

 

2.  Merit-cum-Need based Scholarship: All students (other than covered under Merit Scholarship) whose names appear in the Merit list of Rank holders of the Common Proficiency Test / Intermediate (IPC) Course and whose parents total income is not more than Rs. 1,50,000/- per annum are eligible to apply for award of Merit-cum-Need scholarship. The students who would be selected for award of scholarship will be granted @ Rs. 1500 p.m for 18 months to rank holders of CPT who have registered for Intermediate (IPC) Course and for a maximum period of 30 months/ remaining period of articleship to rank holders of Intermediate (IPC) Course who have registered for articleships. Total 60 scholarships are awarded every year under this category.  

 

3.  Need-based and weaker sections Scholarship: Students of Intermediate (IPC) Course and Final Course are eligible to apply for award of Need- based Scholarships provided their parents’ annual income is not more than Rs. 1,00,000/- per annum. The students who would be selected for award of scholarship will be granted @ Rs. 1250 p.m for 18 months to Intermediate (IPC) Course students and for a maximum period of 30 months/remaining period of articleship to Final students. Total  200  scholarships are awarded every year under this category.

Two scholarships are reserved every year for physically handicapped students. The payment of scholarship is liable to be discontinued in case the recipient does not pass the Intermediate (IPC) Course/Final Examination in the first two eligible chances.

For SC/ST/OBC category students, an additional amount of Rs.100/- p.m. will be paid on submission of a certificate/ documentary proof duly attested by a gazetted officer or a member of the Institute.

 

4. Scholarships under Endowment Schemes: In addition to the above, scholarships are also awarded under different Endowment Schemes created by individual donors/ Joint Corpus formed by donors. The criteria applied are the same as in case of Need-based scholarship.

First three rank holders of CPT will be granted full exemption from the payment of registration fees at the time of registration for Intermediate (IPC) Course including registration fee for 100 Hours Information Technology Training. Such fee exemption will be continued at the time of registration for Final Course provided the student passes both groups in Intermediate (IPC) Examination in the first attempt.

In other words the first three rank holders of CPT need not pay the Final fee if they pass the Intermediate (IPC) Examination in the first attempt.

Effective from November, 2010 examination onwards, top 10 rank holders of the Intermediate (Integrated Professional Competence) Examination and Final Examination are exempted from payment of fee for attending residential programme on Professional Skills Development Programme.

 

 What are the concessions available for Differently abled students while pursing CA Course?

Differently abled students are defined as follows:

(a)  Blindness – “Blindness” refers to a condition where a person suffers from any of the following conditions, namely:

  • total absence of sight;
  • visual acuity not exceeding 6/60 or 20/200 (snellen) in the better eye with correcting lenses; or
  • limitation of the field of vision subtending an angle of 20 degree or worse.

 

(b)   Low vision – “Low vision” means a person with impairment of visual functioning even after treatment or standard refractive correction but who uses or is potentially capable of using vision for the planning or execution of a task with appropriate assistive device.

 

(c)   Leprosy cured – “Leprosy cured” means any person who has been cured of leprosy but is suffering from

  • loss of sensation in hands or feet as well as loss of sensation and paresis in the eye and eye-lid but with no manifest deformity;
  • manifest deformity and paresis but having sufficient mobility in their hands and feet to enable them to engage in normal economic activity;
  • extreme physical deformity as well as advanced age which prevents him from undertaking any gainful occupation, and the expression “leprosy cured” shall be constructed accordingly.

 

(d)  Hearing impairment – “Hearing impairment” means loss of sixty decibels or more in the better ear in the conversational range of frequencies.

(e)  Locomotors disability – “Locomotors disability” means disability of the bones, joints or muscles leading to substantial restriction of the movement of the limbs or any form of cerebral palsy.

(f)  Permanent and total loss of voice.

(g)  Any other physical disability which is not covered above, but permanently suffering from 50% or above, as the case may be, submit an application for consideration on case to case basis.

A differently abled student has to submit a certificate of suffering from disability, certified by a physician/ surgeon/oculist working in a Government hospital, as the case may be.

Differently abled students, who are suffering from a disability as stated above, are eligible for full exemption from payment of registration fees at IPCC and Final levels.

 

Differently abled students are exempted from Orientation Programme

Differently abled students, suffering from permanent disability of 50% or above are exempted from attending Orientation Programme. These students are also exempted from payment of fee related to Orientation Programme i.e. Orientation Programme registration fee of Rs. 1,000/- and course fee of Rs. 3,000/- for undergoing course.

 

Differently abled students are exempted from payment of ITT fee

Differently abled students, suffering from permanent disabilty of 50% or above are exempted from attending ITT classes, but they are required to self-study and pass two test papers specially designed for the purpose. These students are also exempted from payment of fee related to ITT i.e. registration fee of Rs. 2,000/- and course fee of Rs. 4,000/- for undergoing course.

 

What are the Reading Materials a student gets on registration of Final Course?

Group – I

Paper 1 : Financial Reporting

Paper 2 : Strategic Financial Management

Paper 3 : Advanced Auditing and Professional Ethics Paper 4 : Corporate and Allied Laws

Section A : Company Law

Section B : Allied Laws

[Set of 10 books including Practice Manuals]

 

Group – II

Paper 5 : Advanced Management Accounting

Paper 6 : Information Systems Control and Audit Paper 7 : Direct Tax Laws

Paper 8 : Indirect Tax Laws

Section A : Central Excise

Section B : Service Tax & VAT Section C : Customs

[Set of 10 books including Practice Manuals]

Apart from the above, Institute will also supply IT Training materials and Orientation Programme Course materials on registration to the courses.

 

What are opportunities available for qualified CA?

A profession that imparts the best of technical skills in financial and management areas and abilities necessary for deciding and acting upon the high -pressure situations. The society has increasingly recognized the services of CAs in entire gamut of management consultancy including management accounting, management information and control systems, international finance, information technology and financial services sector. CAs today are part of the top management team and hold key positions in the corporate sector. Rapid changes taking place in the economy have further opened up new vistas of opportunities for the Chartered Accountants.

 

 Does ICAI conduct Campus Placements?

Yes. The Institute organizes Campus Placement twice a year. Top Notch Companies participate and conduct recruitment process at various offices of ICAI.

 

Is there any grievance redressal mechanism available in the Institute?

Yes. Through E-Sahaayataa, queries of Students and Members or any other persons are replied by the concerned section/ department of the Institute at the earliest.