resonance

Q.1 What is C.A. and ICAI?
Ans. CA is known to be the short version of the term Chartered Accountancy. This course is conducted by The Institute of Chartered Accountants of India (ICAI), the professional accountancy body of the country. The Institute has its head quartered at New Delhi and has more than 100 branches spread all over the country and abroad.

Q.2 What is the duration of CA Programme?
Ans. With the introduction of CPT, after completing Class XII, it only takes four years (Minimum) to become a Charted Accountant.

Q.3 What are the subjects to be studied?
Ans.

  1. SESSION – I (Two Sections– Two hours – 100 Marks)
  2. Section A: Fundamentals of Accounting (60 Marks)
  3. Section B: Mercantile Laws (40 Marks)

  4. SESSION – II (Two Sections– Two hours – 100 Marks)
  5. Section C: General Economics (50 Marks)
  6. Section D: Quantitative Aptitude (50 Marks)

Q.4. What is the next step after passing CPT?
Ans.

  1. After passing CPT and 10+2 examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto, a student may join the Chartered Accountancy Course. Education of Chartered Accountancy is divided into two levels:
  2. Intermediate: As a student passes CPT exams, he needs to register for Intermediate. Registration for Intermediate will be done after passing CPT exams under which student has to appear in exams after the 9 months of registration.
  3. Final Course: There is a concurrent articled training of 3years or equivalent audit training. Eight months of service as an audit assistant shall be reckoned as six months of articled training.

Q.5. What are qualifying marks?
Ans. The qualifying marks are 50%. A student has to remember that CPT is an objective type test with a negative marking which will indicate in the question paper for selecting wrong option.

Q.6. When the CPT Exam is held?
Ans. CPT examination is held twice in a year i.e., in June & December.

Q.7. In a nutshell, what are the steps involved in becoming a CA?
Ans.

  1. Requirements for becoming a Chartered Accountant under the new scheme are as follows:
  2. Enroll 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 recognized by the Central Government as equivalent thereto.
  3. Appear 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 recognized 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. This specified period for CPT examination is 60 days. The Common Proficiency Test are conducted twice in a year i.e., in June and December.
  4. Join Intermediate and register for 100 Hours Information Technology Training (ITT) and 35 hours orientation programme after passing CPT and 10+2 examination.
  5. After 9 months study of IPCC attempt either Group-I or both the Groups of Intermediate.
  6. Join 3 years Articleship training/Audit training.
  7. Join CA Final course:
  8. » After passing IPCC, 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 during last 12 months of articled training while undergoing Final course.
    » Complete articled training of 3 years.
  9. 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.
  10. Pass Final examination and complete GMCS Course.
  11. Enroll for membership.

Q.8. Is there some sort of reservation in CA exams for ST/ SC/ OBC?
Ans. There is no reservation in CA course for ST/SC/OBC.

Q.9. When will the Articleship commence under new scheme of Intermediate Education, training and examination?
Ans. The students are eligible for registration for articleship after passing Group I of Intermediate and the period of Articleship will be three years.

Q.10. What are the career opportunities for Chartered Accountants in India?
Ans. Chartered Accountancy Course offers the students a dream career in the specialized areas of Accounting, Auditing, Corporate Finance, Corporate Laws, and Taxation.