The Institute of Chartered Accountants of India periodically reviews the scheme of Education and Training to remain in tandem with developments in the field of education and other changes at national and global level. Evolving business also demands newer skills from the accounting professionals. Accordingly, the existing scheme has been revamped and the new scheme has been designed.
Different levels of Chartered Accountancy Course
1. Entry Level Test: Common Proficiency Test
2. First Stage of Theoretical Education: Professional Competence Course
3. Final Stage of Theoretical Education: Final Course
COMMON PROFICIENCY TEST (CPT)
CPT is an entry-level test for the Chartered Accountancy Course, comprising four subjects, namely Fundamentals of Accounting, Mercantile Laws, General Economics and Quantitative Aptitude. This test is of 200 marks. The test is divided into two sessions of two hours each with a break in-between. CPT is an objective test with negative marking 0.5. 50 %(100 Marks) is the passing level.
INTEGRATED PROFESSIONAL COMPETENCE COURSE(IPCC)
The Integrated Professional Competence Course with an upgraded syllabus had replace Professional Education (Course -II) on September 13, 2006.
After passing CPT the student has to register for IPCC Course and 42 months Practical Training (Articleship) under a Chartered Accountant. Thereafter the completion of 18 months Articleship and 100 hours of Information Technology Training(Computer Training), the student has to appear for IPCC examination, divided in to two groups, three subjects in each group. 40 Marks in each paper and aggregated 50 %(300/600) is the passing level.
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