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Written by Homi Chatterjee   
Tuesday, 16 September 2008 01:49

Chartered Accountancy Course

Chartered Accountancy is a challenging profession that offers practice or job opportunities in the areas of accounting, auditing, corporate finance, project evaluation, company and other business laws, taxation and corporate governance. The multi-faceted knowledge a chartered accountant enjoys through unique academic programme blended with practical training is what the business and industry need in the advent of Liberalisation, Privatisation and Globalisation of Indian economy. 

Chartered Accountants are better equipped to discharge accounting and audit functions in a computerised business environment. It is a globally acclaimed profession capable of offering new vistas to young talents, a new area to build a career and a new idea to blossom. A profession having 1,35,000 members and over 3,00,000 students invites you to join the course and be a proud member of the glorious profession

Requirements for becoming a Chartered Accountant

Requirements for becoming a Chartered Accountant under the new scheme are as follows :-

•  Enrol with the Institute for Common Proficiency Test after passing Class 10 examination conducted by an examining body constituted by law in India or an examination recognised by the Central Government as equivalent thereto.

(ii) Appear for CPT examination after appearing in the Senior Secondary Examination (10 + 2 examination) conducted by an examining body constituted by law in India or an examination recognised by the Central Government as equivalent thereto and after completion of specified period from the date of registration for CPT with the Board of Studies.

(iii) Join PCC, articled training and register for 100 hours Information Technology Training (ITT) after passing CPT and 10+2 examination.

(iv) Undergo 100 hours ITT on completion of three months of articled training (100 hours ITT is a 20 days programme @ five hours per day: the training will be treated as part of the practical training).

(v) Appear in Professional Competence Examination (PCE), if

•  worked for not less than fifteen months as an articled assistant or equivalent period as an audit assistant or partly as an articled assistant and partly as an audit assistant, three months prior to the first day of the month in which examination is held ; and

•  completed 100 hours ITT.

(Eight months of audit training is treated as equivalent to six months of articled training. Any fractional period of audit training less than eight months is not counted for this purpose).

(vi) Join CA Final Course :

•  After passing PCE register for Final course with the Board of Studies;

•  Collect Study Materials of the Final course and prepare for Final Examination ;

•  May undergo General Management and Communication Skills Course while undergoing Final Course; and

•  Complete articled training of 3 ½ years.

(vii) Appear in final examination on completion of the practical training on or before the last day of the month preceding the month in which the examination is held.

(viii) Pass Final examination and complete GMCS Course.

•  Enrol for membership.

Objective of the New Scheme

The new scheme has emphasised on

•  Simplified entry norm or a uniform basis through Common Proficiency Test (CPT) which is an objective type test held four times in a year i.e. February, May, August and November.

•  After passing 10 th standard examination a student can register with the Board of Studies and prepare for entry level test while pursuing 10+2 level study;

•  Encouraging young talented students having aptitude for accounting education to make an early entry to the profession;

•  Balanced approach towards theory and training by way of emphasising commencement of the training at the beginning of the chartered accountancy curriculum;

•  Complementing theoretical education by appropriate modules of practical training;

•  Providing quality classroom education through efficient accredited institutions;

•  Linking an upgraded Information Technology Training;

•  Facilitating additional courses of study during articleship training;

•  Globalising chartered accountancy education through organisation of education and training abroad;

•  To help students in acquiring professional ethical values and attitudes; and

•  To inculcate analytical ability among the students through case studies.

Different Stages in Chartered Accountancy Course

•  The entry-level test is named as Common Proficiency Test (CPT) which is designed in the pattern of entry level test of engineering, medical and other professional courses. It is a Four-hour duration test comprising of two sessions of 2 hours each with a break between two sessions. The test will comprise of objective type questions with negative marking for choosing wrong options.

•  The first stage course of chartered accountancy is named as Professional Competence Course (PCC) which is complemented by three and a half years of practical training and 100 hours Information Technology Training (ITT).

•  The last leg of the Chartered Accountancy is Final Course, which has been designed to impart expert knowledge in financial reporting, auditing and professional ethics, taxation, corporate laws, systems control, strategic finance and advanced management accountancy.

•  Updated syllabus is benchmarked to professional accountancy courses around the globe and is fully compliant to International Education Standards issued by the International Federation of Accountants.

Common Proficiency Test

It is an entry level test for Chartered Accountancy Course. It is a test of four subjects i.e, Accounting, Mercantile Laws, General Economics and Quantitative Aptitude with an objective to test basic knowledge in these subject areas. This test is of 200 marks. This test is divided into two sessions of two hours each with a break in between. CPT is an objective type test with negative marking. Subjects to be studied in CPT are as follows :

SESSION I (Two Sections Two hours 100 Marks)

•  Section A ; Fundamentals of Accounting (60 Marks).

•  Section B : Mercantile Laws (40 Marks).

SESSION II (Two Sections Two hours 100 Marks).

•  Section C : General Economics (50 Marks)

•  Section D : Quantitative Aptitude (50 Marks)

The test is conducted four times in a year i.e. February, May, August and November. To know details about this course, get the Prospectus of Common Proficiency Test.

Professional Competence Course

PCC is the first stage of theoretical education of the two staged chartered accountancy course

•  Professional Competence Course and

•  Final Course

PCC will replace the existing Professional Education Course II.

PCC comprises of six subjects of 100 Marks each. It is complemented by practical training and 100 Hours Information Technology Training.


Eligibility requirement for registration :
A student who has passed Common Proficiency Test and Senior Secondary Examination (10+2 examination) conducted by an examining body constituted by law in India or an examination recognised by the Central Government as equivalent thereto may join the Professional Competence Course by which a student is concurrently registered for 3 ½ years of article training and 100 hours Information Technology Training.


Highlights of Professional Competence Course : Improved knowledge of accountancy linked to accounting standards to build strong foundation for developing knowledge of Financial Reporting at the Final Stage;

•  Inculcating ethical values through a module of Business Ethics;

•  Updated knowledge of business communication through modules of developing soft skill, leadership style, group dynamics and developing knowledge of business meetings and legal documents.

•  Building knowledge of business strategies, business environment and corporate governance;

•  Introducing Service Tax and VAT as special module with the purpose of strengthening knowledge of indirect tax;

•  Upgraded module of Information Technology linked to the 100 Hours Information Technology Training;

•  Upgraded modules of Audit and Assurance, Cost Accounting and Financial Management;

•  Imparting basic knowledge of e-filing under the company law leading to development of advanced knowledge of e-governance at the final stage.

Final Course

It comprises of two groups having four subjects in each of the Groups :-


Article 1 : Financial Reporting

Article 2 : Strategic Financial Management

Article 3 : Advanced Auditing and Professional Ethics

Article 4 : Corporate and Allied Laws

Section-A : Company Law

Section-B : Allied Laws


Article 5 : Advanced Management Accounting

Article 6 : Information Systems Control and Audit

Article 7 : Direct Tax Laws

Article 8 : Indirect Tax Laws

Section-A : Central Excise

Section-B : Service Tax & VAT

Section-C : Customs

Highlights of the new final course :

Financial Reporting : This new subject will deal with the whole gamut of financial reporting specially corporate financial reporting. This subject also focuses on learning of IFRS based financial reporting and US GAAP based financial reporting. This is aimed at making Indian chartered accountants globally competitive. Business valuation principles are also covered in this new subject.

Strategic Financial Management : Financial consultancy has become a key functional area of the chartered accountants. With a view to strengthen this knowledge area, this article has been introduced. Special focus of this article are on Mergers and Acquisitions, Investment Analysis and Portfolio Management, Financial Derivatives, Commodity Derivatives, Global Sourcing of Capital ADR, GDR and Foreign Exchange Risk Management.

Advanced Management Accounting : This course has been conceptualised to strengthen the strategic role of a chartered accountant in an organisation as a management consultant. Special focus of this article is on Strategic Cost Management including Activity Based Cost Management, Target Costing, Value Chain Analysis and Restructuring the Value Chain, Transfer Pricing including International Transfer Pricing within the WTO framework, Financial Modelling using Quantitative Techniques and Cost Management in Service Sector.

Advanced Auditing and Professional Ethics : The updated version of this course focuses on application of Audit and Assurance Standards in practical situation and knowledge of Professional Ethics.

Information Systems Control and Audit : This course is formulated with a view to enhance the knowledge of the Chartered Accountants on relevant aspects of Information Technology and their applications in accounting, audit and finance. The special focus of this course is on Information System Control techniques, Data integrity privacy and security, Risk Assessment Methodologies, Information System Auditing Standards, Guidelines & Best Practices, and Information Security Policy.

In addition, principle of e-governance has been emphasised in Corporate and Allied Laws, International Taxation and Value Added Tax are important features of the updated subject contents of Direct Tax Laws and Indirect Tax Laws respectively.

The syllabus of the new final course is hosted on website 


Last Updated on Tuesday, 16 September 2008 02:29


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