CHARTERED ACCOUNTANCY

Global Career Endless Opportunities

The Institute of Chartered Accountants of India

Be the Brightest & Best in the World, be a

Chartered Accountant
A highly affordable course for all !

Students who have appeared for/passed class XII exam can appear for the Common Proficiency Test (Entrance Exam) held twice a year (June & December)

The Institute of Chartered Accountants of India

Set up by an Act of Parliament

For more details, contact:

Board of Studies ICAI Bhawan, A-29 Sector-62 Noida - 201 309 Distt. Gautam Budh Nagar (UP) Phone 0120 - 3045 930 E-mail: bosnoida@icai.org

www.icai.org

17

President's
Message
he CA Profession is very dynamic, challenging and rewarding. The profession is growing progressively and it has spread out its value added services in the wide panorama. The Chartered Accountants play a very crucial role in the society promoting reliable and transparent information both in the public and private domain. The roles of Chartered Accountants are not limited to performing mere traditional duties in the realm of accounting, auditing and taxation. They are now expected to have a greater understanding of and exposure in the fields of business finance, information technology, corporate management, etc. Hence, the opportunities for the accounting professionals are vast and enormous. The Institute treasures its students and it endeavors to provide them the best infrastructure, educational opportunities and exposure that would hone their skills and shape them into world class professionals. As more and more students decide to pursue CA as their profession, it is our utmost responsibility to provide them an easy access to the best education possible. I am very happy that the Board of Studies of the Institute is bringing out a revised Career Counselling Booklet. The booklet will certainly serve as a comprehensive guide for aspirants to gather information about the CA Course. The benefits of career counseling are great as it enables the students to bring forth their hidden strengths and identify their weaknesses. We are planning to organize a series of Career Counseling Programmes to create awareness about the importance of CA qualification among the students and guide them to make sound career choices. I extend my best wishes to all the aspirants of CA Course and do hope that they will achieve grand success in their set objectives. I would like to appreciate Board of Studies for this proactive endeavour of compiling and publishing a well crafted guide which would educate the aspirants about the career in Chartered Accountancy. Yours sincerely,

CA. Subodh Kumar Agrawal

President

Vice President's
Message
hartered Accountancy is a dynamic and promising profession. Over a period of time there has been a paradigm shift in the role of a Chartered Accountant. Gone are the days when a Chartered Accountant's domain was restricted only to Accountancy, Audit and Taxation. The Chartered Accountants today have proved their expertise in the fields of management consultancy services, risk management, corporate governance, strategic management and so on. With dismantling of trade barriers and advancements in information technology, the world has become a global village. Globalization has brought to the forefront numerous opportunities for CAs in the areas of National and International taxation, Finance and Corporate Laws. It is my firm belief that by opting for CA Course, you can surely embark on a satisfying professional career that will help you to reach great heights. The Institute is always very proactive to provide you myriad opportunities to achieve your goals. It organizes Career Counselling Programmes to guide you to choose a career path that is most suitable to your abilities, interest and aptitude. This Booklet Chartered Accountancy - Global Career and Endless Opportunities is also a step in this direction. This booklet contains relevant information about, the course contents of the CA course, different entry gateways to the profession, practical training and various opportunities available to students once they become professional CAs. This booklet will surely help students in to making right career choices. I extend my best wishes to all the students who are all set to undertake CA Course as their career option. I would also like to acknowledge assiduous efforts of Board of Studies for playing a pivotal role in fulfilling and shaping the professional needs and growth of our students. Wishing you all a fulfilling career Yours sincerely,

CA. K. Raghu
Vice President

Chairmans
Message
am happy to share with you that the Board of Studies is bringing out a revised version of the booklet Global Career Endless Opportunities, giving pertinent details of the Chartered Accountancy Course and the opportunities available to the qualified Chartered Accountants. This booklet is a step towards providing necessary inputs on the glorified world of Accounting Profession to the general students so as to help them to make right career choices. Chartered Accountancy has become one of the most coveted professions in India. Gone are the days when the chartered accountants were considered only book- keepers and their domain restricted to Accounts, Audit and Taxation. Now-a-days, there is no field where Chartered Accountants have not made inroads whether it is Portfolio Management, Risk Management, Business Planning or Information System Audit and Environment Audit. In fact, with greater integration of the world economy, the role of Chartered Accountants has become wider and more challenging. The demand for CAs is increasing at a tremendous scale. Fresh qualified CAs are absorbed the moment they enter the market. The Institute also offers excellent campus placement opportunities to the newly qualified chartered accountants. In the present scheme of education and training entry to the Chartered Accountancy course is through two routes - Common Proficiency Test (CPT) route and Direct Entry route. A Tenth passed student is eligible to join the Common Proficiency Course. After appearing for 10+2 examination, he can appear for the CPT. Having passed CPT, the students get admitted to the Chartered Accountancy Course which comprises of theoretical education and practical training of three years. Beginning August 2012, graduates/post graduates/intermediate passed students of the Institute of Company Secretary of India and Institute of Cost Accountants of India can directly enter the CA course. During the CA course the student is also imparted technical skills through Information and Technology Training and Advanced Information and Technology Training and soft skills through General Management and Communication Skills Courses I and II. The rigorous theoretical and practical training helps in proper grooming of the budding professionals. I appreciate the efforts put in by the officials of the Board of Studies in contributing their mite in getting this booklet published. Wishing the Students All the Very Best Yours sincerely,

CA. Vijay Kumar Garg

Chairman, Board of Studies

Vice Chairmans
Message
ou have chosen a wonderful career path. The Chartered Accountancy Course is a practical course which will prepare you to face the challenges head on in the global arena. The Board of Studies brings out booklets as valueadditions to your study and career. In this series we are bringing out this booklet titled Global Career, Endless Opportunities. In this era of globalization, liberalization and the world wide web - geography has become history. The world has shrunk into a global village. Having thrown open the doors, our economy has integrated with the world economy and global markets. Our horizons have widened and as a Chartered Accountant professional you are well equipped to face and ace the professionals competing from the world over. Ann Landers said Nobody gets to live life backward. Look ahead, that is where your future lies. Don't live in the yesterday and what might have been, think about tomorrow and act today. Your positive attitude, dedicated and planned study will lead you to the final goal. Difficulties mastered are opportunities won. Always remember, there is no gain without pain. It is impossible to get rainbows without rain. Umbrellas can't stop the rain, but they will make us to stand in the rain. Similarly, confidence may not itself bring success, but it gives us the power to face any challenge. Look with positive intention; speak with inner conviction; Listen with intense attention; then you will move in the right direction. To succeed, it is necessary to accept the world as it is and rise above it. Everything in this world has got a utility value - Even a stopped clock is right twice a day. The best way to predict your future is to create it. Optimism is the faith that leads to Achievement. You have a bright, professionally fulfilling career as a Chartered Accountant to look forward to. It is important to prepare yourself fully, fine tune your skills, focus and hone your core competence and update yourself knowledgewise to be a globally equipped professional. I look forward to greeting you as a Chartered Accountant professional soon. With Warm Professional Regards, Forever, yours in service,

CA. V. Murali
Vice-Chairman, Board of Studies

The Institute of
Chartered Accountants of India
The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament viz., The Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for regulating the profession of Chartered Accountancy in the country. The Institute, which functions under the administrative control of Ministry of Corporate Affairs, Government of India, has five Regional Councils and 128 branches covering the length and breadth of the country. In addition, it has also set up chapters outside India. It also has an office in Dubai. Founded 64 years ago with just 1,500 members, the Institute has grown to cross the mark of two lakh members and about 10 lakh students as of now. A significant majority of our membership is in practice, with a good deal of specialisation in traditional areas of direct/indirect taxes and in emerging areas, inter-alia, in financial services, information technology, insurance sector, joint ventures, mutual funds, exchange risk management, risk and assurance service, environment/energy/ quality audits, investment counselling, corporate structuring and foreign collaborations. Those in employment, occupy senior positions such as CMDs in Banks/Financial Institutions, CEOs in leading and reputed public/private sector companies, etc.

CHARTERED ACCOUNTANCY
Global Career Endless Opportunities

The Board
of Studies
The Board of Studies is the premier educational wing of the Institute. The mission of the Board of Studies is to provide a strong foundation of knowledge, skills and professional values that enables students to grow as wholesome professionals and adapt to change throughout their professional career.
^

^ ^ ^

^ ^ ^ ^ ^

Preparation and continuous revision of comprehensive study materials including practice manuals covering all the subjects prescribed for study under the CPT, Inter (IPC) and Final Courses. Preparation of Suggested Answers, Revision Test Papers, Periodical supplements, Model Test Papers, Mock Tests etc. on a regular basis. Organizing oral coaching classes for all the levels of CA course. Publication of booklets on various aspects of self-development such as personality development, public speaking, communication skills, preparing for CA examinations, time and stress management, etc. Preparation of e-learning and web-based learning materials such as electures, interactive CDs on topics relevant to CA curriculum. Counselling students through correspondence, e-mail as well as personal discussions. Administration of need-based, merit-based, merit-cum-need based and endowment scholarship schemes for the students. Entering into MOUs with Indian universities/overseas accounting bodies for working out mutually beneficial schemes. Publication of monthly Journal 'The Chartered Accountant Student' and its distribution (including preparation of regular features such as academic update/articles/case study/quiz contest, etc. for the Journal). Organization of National and International convention of CA students, one day/two day seminars, elocution contests, quiz contests, joint seminars with universities, etc.

CA Course Curriculum
Two Entry Routes to CA Course

Students can pursue Chartered Accountancy course either through Common Proficiency Test (CPT) route or through Direct Entry Scheme, introduced from August 1, 2012.

CPT Route
For a student coming through CPT route, there is a three tier structure:
1. 2. 3. Entry Level Test First Stage Final Stage Common Proficiency Test Intermediate (Integrated Professional Competence) Course Final Course

During the CA Course duration, students are imparted technical skills through 100 hours Information Technology Training and Advanced Information Technology Training and interpersonal skills through 35 hours Orientation Course and two General Management and Communication Skills Courses.

Requirements for Becoming a Chartered Accountant: Through CPT Route

^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^
Enrol with the Institute for Common Proficiency Course (CPC) after passing class 10th examination. After completion of specified period (60 days) from the date of registration for CPC with the Board of Studies and after appearing in 10+2 examination, appear and pass in CPT. Enrol for Group I or Group II or for both Groups of Intermediate (IPC) Course. Complete Orientation Course of one week spanning 35 hours, necessarily before joining the Practical Training. Complete 100 hours Information Technology Training (ITT) necessarily before joining the Practical Training. Appear in Intermediate (IPC) Examination on completion of eight months of study course as on first day of the month in which the examination is to be held Join Practical Training after passing either Group I or both groups of Intermediate (IPC) Course. Complete First General Management and Communication Skills (GMCS) course (15 days) during the first year of practical training. Complete Second General Management and Communication Skills (GMCS) course (15 days) after completion of 18 months of practical training but before completion of practical training. Clear Group II of Intermediate (IPC) Examination if not done earlier. Register for CA Final Course and prepare for CA Final Examination.

CHARTERED ACCOUNTANCY
Global Career Endless Opportunities

^ Complete Advance Information Technology Training during the third year of practical
training but before appearing in the Final Examination.

^ Complete Practical Training of three years. ^ Appear in the Final examination on completion of the practical training or while
serving last six months of articled training on or before the last day of the month preceding the month in which the examination is to be held. ^ Pass Final examination and complete GMCS II, if not completed earlier. ^ Enrol as a member of the ICAI and be designated as Chartered Accountant.

Requirements for Becoming a Chartered Accountant: Through Direct Entry Scheme

I.

^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^

Commerce Graduates/Post-Graduates (55%) or Other Graduates/Post-Graduates (60%) Enrol with the Institute for Intermediate (Integrated Professional Competence) Course for both groups. Complete 35 hours Orientation Course spanning one week and 100 hours Information Technology Training (ITT). Register for Practical Training of three years. Complete General Management and Communication Skills (GMCS)-I Course during first year of practical training Appear in Intermediate (Integrated Professional Competence) Examination after nine months of Practical Training and Study Course of eight months concurrently from the date of registration for the Intermediate (Integrated Professional Competence) Course. Appear and pass in both groups of Intermediate (Integrated Professional Competence) Course. Register for CA Final Course and prepare for CA Final Examination. Complete General Management and Communication Skills (GMCS)-II Course (15 days) course while serving the last 19 to 36 months of articled training. Complete Advance Information Technology Training during the third year of practical training but before appearing in the Final Examination. Complete three years period of Practical Training. Appear in the Final Examination while serving last six months of practical training on or before the last day of the month preceding the month in which the examination is to be held. Pass Final examination. Enrol as a member of ICAI and be designated as Chartered Accountant.

II. Candidates who have passed Intermediate level examination of The Institute of Company Secretaries of India and The Institute of Cost Accountants of India ^ Enrol with the Institute for Intermediate (Integrated Professional Competence) Course either for Both Groups or Group I. ^ See bullet point 4 onwards of 1 above (CPT route) for rest of the scheme.
A students who wants to pursue the Accounting Technician Course (ATC) has to enroll for Group-I of the Inter (IPC) Course. After successfully completing 35 hours Orientation Course, 100 Hours ITT and eight months of Study Course, he/she can appear for ATE. After passing ATE, he/she needs to undergo one year of work experience under a CA to get the certificate of Accounting Technician.

Common Proficiency Test

Entry Level Test

Scheme
^ Pass Class 10 Examination. ^ Register with Board of Studies for Common Proficiency Test and collect
th

study material. ^ Appear in Senior Secondary Examination (10+2) and pursue studies for CPT simultaneously. ^ Eligible to Appear in Common Proficiency Test after completion of specified period (60 days) of registration and after appearing in Senior Secondary Examination (10 + 2). ^ Common Proficiency Test is held in the months of June and December of every year.

Subjects
Session - I
Two Sections - Two hours - 100 Marks Section A - Fundamentals of Accounting (60 Marks) Section B - Mercantile Law (40 Marks).

Session - II
Two Sections - Two hours - 100 Marks Section C - General Economics (50 Marks) Section D - Quantitative Aptitude (50 Marks).

CHARTERED ACCOUNTANCY
Global Career Endless Opportunities

Intermediate
(Integrated Professional Competence) Course First Stage
A student, after clearing CPT may register for Intermediate (Integrated Professional Competence) [Intermediate (IPC)] Course. Alternatively, graduates and post-graduates or Intermediate passed out students of the Institute of Company Secretaries of India or the Institute of Cost Accountants of India with specified marks may directly register for Intermediate (IPC) Course. During Intermediate (IPC) Course a student has to undergo a study course of eight months. Simultaneously, he has to do 35 hours Orientation Course and 100 hours ITT. Graduates and Post-Graduates joining Intermediate (IPC) Course directly have to concurrently complete 8 months of study course and 9 months of practical training before appearing for Intermediate (IPC) examination.

Subjects
Group I
Paper - 1: Accounting (100 Marks) Paper - 2: Business Law, Ethics and Communication (100 Marks) Part - I: Law (60 marks) comprising Business Laws (30 Marks) and Company Law (30 Marks) Part II: Ethics (20 Marks) Part - III: 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) Part - I: Information Technology (50 Marks) Part - II: Strategic Management (50 Marks).

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Final Course

A student, after clearing Intermediate (IPC) Course joins the Final Course.

Subjects
Group I
Paper - 1: Paper - 2: Paper - 3: Paper - 4: Financial Reporting (100 Marks) Strategic Financial Management (100 Marks) Advanced Auditing and Professional Ethics (100 Marks) Corporate and Allied Laws (100 Marks) Section A: Company Law (70 Marks) Section B: Allied Laws (30 Marks).

Group II
Paper - 5: Paper - 6: Paper - 7: Paper - 8: Advanced Management Accounting (100 Marks) Information Systems Control and Audit (100 Marks) Direct Tax Laws (100 Marks) Indirect Tax Laws (100 Marks) Section A: Central Excise (40 Marks) Section B: Service Tax & VAT (40 Marks) Section C: Customs (20 Marks).

CHARTERED ACCOUNTANCY
Global Career Endless Opportunities

11

Programme Enhancing
Skills

Orientation Programme
^ With a view to groom and motivate the entrants to be good professionals, the

Orientation Programme has been made an integral part of the CA Course curriculum. ^ Programme is of five days (i.e. 35 hours) duration and comprises of four sessions per day - each session of 1 hour 45 minutes.

100 Hours Information Technology Training

^ 100 hours Information Technology Training (ITT) is an integral part of the CA

course curriculum.
^ Training focuses on the application softwares relevant for Accounting and

Auditing.
^ Compulsory to complete Orientation Programme and ITT before joining

Articled Training.

Three Years' 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 organizations operate, and Develops ethical values.

During the training, articled trainees get exposures to a wide array of fields, namely, Accounting, Auditing, Taxation, Information Technology and Management services. The entire period of practical training can be served with a

12

practicing member or it can be served partly with a practicing member and partly in an approved industrial establishment as Industrial Training.

Two Courses on General Management & Communication Skills (GMCS)

^ Two 15 days full time Courses on General Management and Communication

^ ^ ^ ^

Skills equip the entrants to the profession with interpersonal and management skills. GMCS-I shall be undergone during the first year of practical training. GMCS-II shall be undergone during 19th36th months of practical training (for students registering for practical training on or after 1st May, 2012) Prerequisite for membership enrolment of the Institute. Students who undergo the four weeks Residential Programme on Professional Skills and Development are exempted from attending the GMCS-II.

Advanced Information Technology Training

^ Students registering for practical training after 1 August, 2012 are required
st

to undergo Advanced ITT also.

^ Advanced training to be completed during the third year of practical training

but before appearing in the Final examination.

Four Weeks Residential Programme on Professional Skills Development

^ To imbibe the professional skills required for effective functioning in business

organizations and the profession, the Board of Studies organises four weeks Residential Programme at Centre of Excellence, Hyderabad. ^ This programme offers a unique opportunity and focuses on development of communication skills, leadership skills, personal traits as well as technical skills for effective functioning in business organizations and profession. ^ All students who have passed Chartered Accountancy Final or IPCC/PCC/Intermediate (IPC) examination and are pursuing third year of practical training or have completed practical training may join the course.

CHARTERED ACCOUNTANCY
Global Career Endless Opportunities

13

Fees and Financial

Assistance

Broad Fee Structure

Course
Common Proficiency Test (CPT) Registration Fee Intermediate (Integrated Professional Competence) Course (Both Group) Registration Fee Articled Training Fee Final Course Registration Fee 100 Hours Information Technology Training 35 Hours Orientation Programme General Management and Communication Skills GMCS COURSES I and II

Amount
` 6,000 ` 9,000 ` 2,000 ` 10,000 ` 4,000 ` 3,000 ` 8,000

Total

` 42,000

Scholarships
The Institute grants various scholarships to students namely, Merit, Merit-cumNeed based and Need based and Weaker-sections scholarships out of the funds of Institute and Endowment Schemes created by individual donors/trustees/ societies.

Fee Exemption
Fees exemptions/concessions are also given to different categories of CA students like differently abled students, children of military and para-military forces who have lost either of their parents in action and meritorious students.

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Accounting Technician
Course (ATC)

A candidate may opt for Accounting Technician Course. It is to be noted that Group I of Intermediate (IPC) Course is equivalent to ATC. A candidate who does not wish to complete erstwhile Intermediate/PE-II/PCC/IPCC can opt for ATC.

How to become an Accounting Technician?

^ Enrol with the Institute for Common Proficiency Test (CPT) after passing class ^ ^ ^ ^ ^ ^ ^ ^

10th examination Appear in CPT after appearing in the senior secondary examination (10+2 examination) Enrol for ATC Successfully complete eight months of study course from the date of ATC registration Successfully complete Orientation Course of one week spanning 35 hours Successfully complete 100 hours Information Technology Training (ITT) Appear and pass Accounting Technician Examination (ATE) Successfully complete one year work experience under a chartered accountant in practice or in industry Designate as Accounting Technician.

Options to pursue CA, after becoming an Accounting Technician

^ Enrol for Group II of Intermediate (IPC) Course ^ Register as an Articled Assistant for a period of three years ^ Appear and pass Group-II of Intermediate (IPC) Examination comprising of

three papers
^ Register for CA Final Course and prepare for CA Final Examination ^ Undergo 15 days GMCS-I during the first year of practical training. ^ Undergo 15 days General Management and Communication Skills (GMCS-II)

course between 19th 36th months of practical training ^ Complete three years period of articled training ^ Appear in the Final Examination while serving last six months of practical training.
CHARTERED ACCOUNTANCY
Global Career Endless Opportunities

15

Accounting Technician Course (ATC)

^ Pass final examination and complete GMCS-II, if not completed earlier ^ Enrol as a member of ICAI and designated as Chartered Accountant.

Subjects
Paper - 1 Paper - 2 Paper - 3 Paper - 4 Accounting (100 Marks) Business Law, Ethics and Communication (100 Marks) Cost Accounting and Financial Management (100 Marks) Taxation (100 Marks).

Every aspiring CA is polished to perfection by the stringent curriculum combined with hands-on experience, and made to sparkle.
Little wonder, the eminent positions in Government, Judiciary, Banks, Financial Institutions, Regulatory Bodies, Industry and Prestigious Corporate Houses are occupied by CAs.

THE ICAI EDGE

DIRECT ENTRY SCHEME

Candidates exempted from qualifying the Common Proficiency Test (CPT) and eligible for direct admission to the Intermediate Course are:

No entry barriers Affordable course All embracive accounting curriculum Equipping with best managerial & soft skills World class education, training & examination systems Rigorous training coupled with latest IT techniques 3 years of hands on experience with stipend Professional advancement, personal growth, excellent prospects.

Graduates and Post Graduates in Commerce with an aggregate of 55% marks Non-Commerce students with an aggregate of 60% marks Intermediate level pass at The Institute of Cost Accountants of India or The Institute of Company Secretaries of India examination.

A cut above the rest

Indian Chartered Accountants are the best

A Chartered Accountant is a professional who understands 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 possesses through comprehensive academic curriculum blended with unique practical training is what the business and industry need with the advent of liberalisation, privatization and globalisation. No wonder the final product is a valuable asset not just for the nation but for the world as well.

ICAI offers:
World best education system Comprehensive curriculum Rigorous training Practical hands on experience
coupled with latest IT Techniques

Best of managerial & soft skills

MAKING OUR CAs A CLASS OF MATCHLESS PROFESSIONALS SCALING NEW HEIGHTS OF EXCELLENCE

The Institute of Chartered Accountants of India

Set up by an Act of Parliament
ICAI - ENRICHING THE NATION THROUGH PROFESSIONAL EXCELLENCE

For more details log on to www.icai.org

The Institute of Chartered Accountants of India

Set up by an Act of Parliament

www.icai.org
MAKING OUR CAs A CLASS OF MATCHLESS PROFESSIONALS SCALING NEW HEIGHTS OF EXCELLENCE

CA Course Recognition
For Post Graduation Courses/ Civil Services Examination

The Association of Indian Universities (AIU) recognises Chartered Accountancy Qualification with graduation as equivalent to Post Graduate Degree or allied disciplines in Commerce for pursuing Ph.D. Programme. Ninety six Indian Universities/Indian Institutes of Management have also recognised Chartered Accountancy Qualification as equivalent to Post Graduation for admitting the CA students to the Doctoral Programme.

Eligibility of the Chartered Accountants to appear in Civil Service Examination

Chartered Accountants are eligible for admission to the Civil Services Examination, conducted by the Union Public Service Commission for recruitment to IAS, IPS and other Group 'A'/Group 'B' Central Services/ Posts.

Special Weightage to CA Course in IIM Bangalore

Chartered Accountancy is the only professional course is given special weightage while admitting candidates to the 2013 batch of Indian Institute of Management Bangalore.

CHARTERED ACCOUNTANCY
Global Career Endless Opportunities

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Memorandum of Understanding
National & International

MOU/MRA/Joint Declarations/Licence Agreements with International Accounting Organisations

The Institute has entered into a Memorandum of Understanding (MOU) and a Mutual Recognition Agreement (MRA) with various International Accounting bodies and Institutions on how ICAI members can get reciprocal membership and other professional advantages... ^ The Institute of Chartered Accountants of England and Wales (ICAEW) ^ Certified Public Accountant, Australia (CPAA) ^ Institute of Chartered Accountants of Australia (ICAA) ^ Certified Public Accountants in Ireland (CPA Ireland) ^ Canadian Institute of Chartered Accountants (CICA) ^ Higher Colleges of Technology, Ministry of Higher Education and Scientific Research, UAE ^ University of Djibouti ^ The Bahrain Institute of Banking and Finance ^ Information System Audit & Control Association (ISACA) ^ The New Zealand Institute of Chartered Accountants (NZICA) ^ Association of International Accountants, UK.

Memorandum of Understanding with Indian Universities

The Institute has entered into MOUs with some Indian Universities to enable its Members and students to pursue BCom/MCom/BBA/MBA Courses of these Universities. These are... ^ Indira Gandhi National Open University (IGNOU) ^ Bharthiar University ^ Netaji Subhas Open University ^ University of Madras. For details regarding MOUs, please visit Institute's website www.icai.org

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Opportunities for
Chartered Accountants

Chartered Accountancy - A Challenging Career at the cutting edge of trade, industry and economic growth. 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. No wonder that the Chartered Accountancy is a high status profession and a passport to challenging and rewarding career in industry and commerce. Chartered Accountants today have occupied top management positions in public as well as private sectors. They also render professional services as accountants and management consultants. 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. Even in the government, they occupy prominent positions. Rapid changes taking place in the economy have further opened up new vistas of opportunities for the Chartered Accountants. On becoming a Chartered Accountant, you have many options for pursuing challenging and rewarding career. Independent Professional Practice: Sky is the Limit
As practitioners of public accounting, CAs may start professional practice as a proprietor or join any existing firm as a partner or staff member. A CA has been entrusted with substantial responsibility of complying with the provisions of various legislations such as compulsory audit of the accounts of all companies, banks, cooperative societies, stock brokers, big income-tax assessees, large bank borrowers, etc. A Chartered Accountant also provides compilation and review services as and when required by enterprises. While practicing as an independent professional, a CA also acts as a business advisor by providing all kinds of services including the preparation of financial reports with restructuring of finance options preparing financial projections showing how the loans will be repaid, and determining the viability of business. As a tax advisor, a CA helps business and individuals to comply with tax laws and represents their clients before government agencies. Risk Management and Internal Audit are also growing areas of professional practice.

CHARTERED ACCOUNTANCY
Global Career Endless Opportunities

21

Opportunities in Global Arena

Today, Indian Chartered Accountants have an impressive presence throughout the globe holding eminent positions. Many MNCs as well as KPOs prefer Indian CAs for their expertise in IFRS, International taxation, International Trade Laws and Accounting in IT environment.

Management Consultancy Services

A Chartered Accountant plays a vital role in assisting businesses to improve the use of their resources, increase their efficiency and achieve their objectives. As a management consultant CA can also identify, evaluate and recommend ways to increase revenue and reduce operating costs, analyse operations and suggest changes in structure and individual responsibilities, conduct special studies, prepare recommendations, plans and programmes and provide advice and technical assistance in their implementation. The breadth of management advisory services rendered by Chartered Accountants reflects their clear response by application of their technical knowledge and business experience to the client's changing needs. Such services include...
^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^

Financial management planning and financial policy determination such as capital structure and related areas. Preparation of project reports and feasibility studies. Market research and demand studies. Management accounting systems, cost control and value analysis. Budgeting, inventory management, working capital management. Personnel recruitment and selection, incentive plans. Business policy, corporate planning, organisation development, growth and diversification. Organisation structure and behaviour, development of human resources. Systems analysis and design, and computer related services. Advisor or consultant to an issue. Investment counselling in respect of securities. Registrar to an issue and for transfer of shares/other securities; and Quality audit, energy audit and environmental audit.

Opt for Industry/Government Organisation

A Chartered Accountant may prefer to join an industry or government organisation and hold a responsible position. Chartered Accountants are responsible for developing, analyzing and reporting on information needed for business decisions. They also evaluate the financial effects of management's actions. A Chartered Accountant may also take up the job of an educator at a University/College. Many Chartered Accountants hold responsible positions in business or industrial firms as CEOs, Managing Directors, Directors (Finance) and Chief Accountants.

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Campus Placement
Programme
The Institute has a special cell which assists newly qualified members of the profession in finding jobs in the Industry. This cell organizes campus interviews for these members and acts as a link between industry and professionals. Over the years, the Campus Placement Programmes have received tremendous response.

Campus Placement Programme - A Bird's Eye View

Maximum Salary Paid
Aug-Sep 2011 Feb-Mar 2012
` 25 lakh PA For International Posting

Aug-Sep 2012
` 16.7 lakh PA For International Posting

` 13.93 lakh PA by ITC Ltd

` 14 lakh PA For National Posting

` 13.77 lakh PA For National Posting

Average Salary Paid

Aug-Sep 2011 ` 6.12 lakh PA Feb-Mar 2012 ` 6.95 lakh PA Aug-Sep 2012 ` 7.06 lakh PA

Top Recruiters during the Aug-Sep 2012 Campus Interviews

GECIS (formerly GE Capital Intl Services) L&T Tata Consultancy Services Axis Risk Consulting Pvt Ltd - A Genpact Company Vedanta Resources Plc S R Batliboi & Co IBM India Pvt Ltd Barclays Shared Services Pvt Ltd Syndicate Bank Landmark Group, UAE Caterpillar India Pvt Ltd

CHARTERED ACCOUNTANCY
Global Career Endless Opportunities

23

Salary Range Offered

Salary Range (Per Annum)

900
825

800

Number of Candidates Aug-Sep, 2011 Number of Candidates Feb-March, 2012 Number of Candidates Aug-Sep, 2012
326

Number of Candidates

700
621

600 500 400 300 200

132

100 0

104

124 52 57

127 61 21 0 0 0

72

` 9,00,000

& above

` 7,50,000 to ` 8,99,000

` 5,00,000 to ` 7,49,000

` 3,50,000 to ` 4,99,000

Below to ` 3,50,000

Top Ten Remunerations Offered during August-September 2012 Campus Interviews

S No. 1 2 3 4 5a 5b 5c 6 7 8 9 10 Company Name
Landmark Group, UAE
Remuneration Offered (` in Lakh PA)

Candidates Selected

Centre
Bangalore, New Delhi (International Posting)

16,70,000 16,63,310 13,77,000 12,40,000 11,00,000 11,00,000 11,00,000 10,75,000 10,42,000 10,04,000 10,00,000 9,38,000

15 2 3 1 4 1 1 2 3 5 4 12

ETA Ascon Star Group of Companies ITC Limited Finance Nestle RPG
Securities and Exchange Board of India-SEBI

Chennai (International Posting) New Delhi New Delhi Mumbai New Delhi New Delhi Chennai Kolkata Chennai Kolkata, Bangalore Bangalore, Chennai

Power Finance Corporation Ltd

Securities and Exchange Board of India-SEBI

Vedanta Resources Plc Vedanta Resources Plc

Securities and Exchange Board of India - SEBI

Caterpillar India Pvt Ltd

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CPT Syllabus

SESSION-I
Two Sections - Two hours - 100 Marks Section A : Fundamentals of Accounting (60 Marks)
1. Theoretical Framework: Meaning and Scope of accounting, Accounting Concepts, Principles and Conventions, Accounting Standards concepts, objectives, benefits, Accounting Policies, Accounting as a measurement discipline valuation principles, accounting estimates. 2. Accounting Process: Books of Accounts leading to the preparation of Trial Balance, Capital and revenue expenditures, Capital and revenue receipts, Contingent assets and contingent liabilities, Fundamental errors including rectifications thereof. 3. Bank Reconciliation Statement. 4. Inventories: Basis of inventory valuation and record keeping. 5. Depreciation Accounting: Methods, computation and accounting treatment of depreciation, Change in depreciation methods. 6. Preparation of Final Accounts for Sole Proprietors. 7. Accounting for Special Transactions: Consignments, Joint Ventures, Bills of exchange and promissory notes, Sale of goods on approval or return basis. 8. Partnership Accounts: Final accounts of partnership firms Basic concepts of admission, retirement and death of a partner including treatment of goodwill. 9. Introduction to Company Accounts: Issue of shares and debentures, forfeiture of shares, re-issue of forfeited shares, redemption of preference shares.

Section B: Mercantile Laws (40 Marks)

1. The Indian Contract Act, 1872: An overview of Sections 1 to 75 covering the general nature of contract, consideration, other essential elements of a valid contract, Performance of contract and Breach of contract.

CHARTERED ACCOUNTANCY
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2. The Sale of Goods Act, 1930: Formation of the contract of sale Conditions and Warranties Transfer of ownership and delivery of goods Unpaid seller and his rights. 3. The India Partnership Act, 1932: General Nature of Partnership Rights and duties of partners Registration and dissolution of a firm.

SESSION-II
Two Sections Two hours (100 Marks) Section C: General Economics (50 Marks)
(I) Micro Economics 1. Introduction to Micro Economics: Definition, scope and nature of Economics, Methods of economic study, Central problems of an economy and Production possibilities curve. 2. Theory of Demand and Supply: Meaning and determinants of demand, Law of demand and Elasticity of demand - Price, income and cross elasticity, Theory of consumer's behaviour Marshallian approach and Indifference curve approach, Meaning and determinants of supply, Law of supply and Elasticity of supply. 3. Theory of Production and Cost: Meaning and Factors of production, Laws of Production The Law of variable proportions and Laws of returns to scale, Concepts of Costs Short-run and long-run costs, Average and marginal costs, Total, fixed and variable costs. 4. Price Determination in Different Markets: Various forms of markets Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly, Price determination in these markets. (II) Indian Economic Development 5. Indian Economy A Profile: Nature of the Indian Economy, Role of different sectors Agriculture, Industry and Services in the development of the Indian economy, their problems and growth, National Income of India Concepts of national income, Different methods of measuring national income, Growth of national income and per capita income in various plans, Basic understanding of tax system of India Direct and Indirect Taxation. 6. Select Aspects of Indian Economy: Population - Its size, rate of growth and its implication for growth, Poverty Absolute and relative poverty and main programs for poverty alleviation, Unemployment Types, causes and incidence of unemployment, Infrastructure - Energy, Transportation, Communication, Health and Education, Inflation, Budget and Fiscal deficits, Balance of payments, External debts. 7. Economic Reforms in India: Features of economic reforms since 1991, Liberalisation, Privatisation and Disinvestment, Globalisation.

26

8. Money and Banking: Money Meaning and functions, Commercial Banks Role and functions, Reserve Bank of India Role and functions, Monetary policy.

Section D: Quantitative Aptitude (50 Marks)

1. Ratio and proportion, Indices, Logarithms. 2. Equations: Linear simultaneous linear equations up to three variables, quadratic and cubic equations in one variable, equations of a straight line, intersection of straight lines, graphical solution to linear equations. 3. Inequalities: Graphs of inequalities in two variables - common region. 4. Simple and Compound Interest including annuity - Applications.

5. Basic concepts of Permutations and Combinations. 6. Sequence and Series Arithmetic and geometric progressions. 7. Sets, Functions and Relations. 8. Limits and Continuity - Intuitive Approach.

9. Basic concepts of Differential and Integral Calculus (excluding trigonometric functions). 10. Statistical description of data: Textual, Tabular & Diagrammatic representation of data, Frequency Distribution, Graphical representation of frequency distribution Histogram, Frequency Polygon, Ogive. 11. Measures of Central Tendency and Dispersion: Arithmetic Mean, Median Partition Values, Mode, Geometric Mean and Harmonic, Mean, Standard deviation, Quartile deviation. 12. Correlation and Regression. 13. Probability and Expected Value by Mathematical Expectation. 14. Theoretical Distributions: Binomial, Poisson and Normal. 15. Sampling Theory: Basic Principles of sampling theory, Comparison between sample survey and complete enumeration, Errors in sample survey, Some important terms associated with sampling, Types of sampling, Theory of estimation, Determination of sample size . 16. Index Numbers.

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Common Proficiency Test

CPT - Frequently Asked Questions

1. 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. 2. 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 Test. 3. How to apply for admission to the CPT Course?
^ A student is required to apply in the prescribed form. ^ A student may buy Prospectus remitting ` 100. The application form is

available in the Prospectus.

^ Alternatively, the application form can be downloaded from our website as per

the link given below... http://220.227.161.86/7505cpt_form.pdf While submitting the duly filled application form, a student has to remit ` 100 towards cost of Prospectus along with registration and tuition fee. 4. What are the fees for registration?
SNo 1. 2. 3. 4. Details of Fee Cost of CPT Prospectus CPT Registration fee Subscription for Students' Journal
(for one year) (Optional but strongly recommended)

For India and SAARC Countries ` 100 ` 6,000 ` 200 ` 400 ` 6,700

For Foreign Students USD 10 USD 580 USD 20 USD 40 USD 650

Subscription for Members' Journal

(for one year) (Optional)

TOTAL

28

CPT
Frequently Asked Questions

5. What are the documents/proofs to be to be enclosed along with the CPT registration application? ^ Demand Draft towards registration fee.

^ Proof of Date of Birth: 10th pass marks sheet/10th pass certificate indicating Date of Birth, duly attested by a Chartered Accountant/Gazetted Officer/ Head of the Institute. ^ Class 12th Admit Card/Attested copy of 12th pass or its equivalent qualification, if passed. ^ Proof of Nationality, if a student is foreigner. ^ Proof of special category certificate i.e. SC/ST, OBC and Disabled.
6. What are the subjects to be studied? 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). 7. Will there be any study package? Yes. The Board of Studies provides a comprehensive study material including a large question bank. In addition, Volumes I & II of the Model Test Papers are also being supplied to the students with study materials. 8. How to make application for appearing in the examination? A student has to follow the examination notification to be issued by the Examination Department of the ICAI and apply in the prescribed form along with

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CPT
Frequently Asked Questions

the examination fee of ` 500 (for students applying online). The Examination Department announces the examination centres and issue admit card. Examination fee is subject to change from time to time. 9. What are the qualifying marks? 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. 1/4 (one fourth) mark will be deducted for each wrong answer. Beginning June 2013, a CPT candidate shall be declared to have passed the test if he obtains at one sitting a minimum of 30% marks in each section i.e. subject and a minimum of 50% marks in aggregate of all the sections, subject to the principle of negative marking. 10. When is CPT held? CPT examination is held twice in a year i.e., in June & December. 11. Can a student registered for CPT appear in CPT exam indefinitely? No. The registration for CPT Course from the date initial registration is a period of three years. CPT registration may be renewed for subsequent three years period by paying ` 300. This re-validation of registration can be done any number of times. Students have to renew their registration before the last date for submission of examination application forms. 12. Is there any cut-off date for registering to CPT course and appearing in the CPT exam and who can appear in the CPT exam? A student who registers for CPT course on or before 1st April will be eligible to appear in June and who registers on or before 1st October will be eligible to appear in the December CPT examination.

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Board of Studies & Decentralised Offices

For further information and to obtain the Prospectus, students are advised to contact any of these offices
Western India Regional Council of ICAI ICAI Bhawan 27 Cuffe Parade, Colaba, Mumbai - 400 005 Phone: 022-39893989, FAX: 022-39802953 Email: wro@icai.org Website: www.wirc-icai.org Southern India Regional Council of ICAI ICAI Bhawan 122 MG Road, Post Box No. 3314 Nungambakkam Chennai - 600 034 Phone 044-39893989, FAX: 044-30210355 Email: sro@icai.org Website: www.sircoficai.org Eastern India Regional Council of ICAI ICAI Bhawan 7 Anandilal Poddar Sarani, (Russell Street) Kolkata - 700 071 Phone: 033-39893989 FAX: 033-30211145 Email: ero@icai.org Website: www.eircindia.org Central India Regional Council of ICAI ICAI Bhawan Post Box No. 314, 16/77 B Civil Lines Behind Reserve Bank of India, Kanpur - 208 001 Phone: 0512-3989398, FAX: 0512-3011193 Email: cro@icai.org, Website: www.circ-icai.org Northern India Regional Council, ICAI ICAI Bhawan 52-54, Institutional Area Vishwas Nagar, Shahdara Near Karkardooma Courts, Delhi - 110 032 Phones: 011-39893990, 30210601 FAX: 011-30210680 Email: nro@icai.org, Website: www.nirc-icai.org Ahmedabad Branch of WIRC of ICAI ICAI Bhawan 123, Sardar Patel Colony, Near Usmanpura Under Bridge PO Navjivan Naranpura Ahmedabad - 380 014
Phones: 079-27680946, 27680537, FAX: 079-27680537

Surat Branch of WIRC of ICAI ICAI Bhawan 2nd Floor, Saifee Building Dayalji Baug Road (Dutch Garden Road) Nanpura Surat - 395 001, Gujrat Phones: 0261-2472932 2464413, 2461154, FAX: 0261-2464413 Email: surat@icai.org, suraticai@yahoo.co.in Bangalore Branch of SIRC of ICAI ICAI Bhawan No. 16/0 Millers Tank Bed Area, Bangalore - 560 052 Phones: 080-30563500, 30563501 FAX: 080 22252547 Email: bangalore@icai.org Coimbatore Branch of SIRC of ICAI ICAI Bhawan Opposite to Union Bank of India Branch Mettupalayam Road, Thudiyalur Coimbatore - 641 034 Phones: 0422-4270056, 4270068 Ernakulam Branch of SIRC of ICAI ICAI Bhawan 57/3146, Dewan's Road, Ernakulam Kochi - 682 016 Phones: 0484-2369238, 2372953, 2369258 FAX: 0484 2372953 Email: ernakulam@icai.org Hyderabad Branch of SIRC of ICAI ICAI Bhawan 11-5-398/C, Red Hills, Hyderabad - 500 004 Phones: 040-23317026, 23393182 FAX: 040-23393200 Email: hyderabad@icai.org Indore Branch of CIRC of ICAI ICAI Bhawan Plot No. 19-B, Scheme No. 78 Part-II (Near MP Pollution Board), Indore - 452 010
Phones: 0731-4298198, 3254900, FAX: 0731-4298198

Email: ahmedabad@icai.org, ahdicai@yahoo.com Baroda Branch of WIRC of ICAI ICAI Bhawan Kalali - Tandalja Road, At Ladra, Vadodara - 390 012 Phones: 0265-2681115, 2680593 FAX: 0265-2681115, 2680593 Email: baroda@icai.org Nagpur Branch of WIRC of ICAI ICAI Bhawan 20/1, Behind Vijayanand Society Dhantoli Nagpur - 440 012 Phones: 0712-2443968, 2441196 FAX: 0712-2454166
Email: nagpur@icai.org, icairnag_ngp@sancharnet.in

E-mail: indore@icai.org Jaipur Branch of CIRC of ICAI ICAI Bhawan D-1, Institutional Area, Jhalana Doongri, Jaipur - 302 004 Phones: 0141-3989398, 3044200, 3044214 FAX: 0141-3044215 E-mail: jaipur@icai.org Chandigarh Branch of the NIRC ICAI ICAI Bhawan Opp. Community Centre, Sector-35 B Chandigarh - 160 022 Phone: 0172-5067756 FAX: 0172-2727699 E-mail : chandigarh@icai.org DETAILS MAY ALSO BE OBTAINED FROM: The Institute of Chartered Accountants of India ICAI Bhawan, A-29, Sector-62, NOIDA - 201 309 Phone: 0120-3045931, FAX: 0120-3045940 E-mail: bosnoida@icai.org

Pune Branch of WIRC of ICAI ICAI Bhawan Plot No. 8, Parshwanath Nagar, CTS No. 333 Sr. No. 573 Munjeri, Opp. Kale Hospital Bibawewadi, Pune - 411 037 Phones: 020-24212250/51/52, FAX: 020 24489732 Email: pune@icai.org, icaipune@vsnl.com

CHARTERED ACCOUNTANCY
Global Career Endless Opportunities

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One Profession Versatile Roles

A Total Business Solution Provider

64

The Institute of Chartered Accountants of India

Set up by an Act of Parliament
ICAI - ENRICHING THE NATION WITH PROFESSIONAL EXCELLENCE

About the Booklet

The booklet Chartered Accountancy: Global Career, Endless Opportunities has been specifically prepared by the Board of Studies, ICAI to provide valuable information about the Chartered Accountancy Course and avenues open to those who want to pursue a career in Chartered Accountancy.

Composition of The Board of Studies (2013-14)

CA. Vijay Kumar Garg Chairman CA. V. Murali Vice-Chairman CA. Subodh Kumar Agrawal President (Ex-Officio) CA. K. Raghu Vice President (Ex-Officio) CA. Prafulla Premsukh Chhajed CA. Tarun Jamnadas Ghia CA. Nihar Niranjan Jambusaria CA. Sanjeev Maheshwari CA. Nilesh Shivji Vikamsey CA. Babu Abraham Kallivayalil CA. M. Devaraja Reddy CA. J. Venkateswarlu CA. Sumantra Guha CA. Mukesh Singh Kushwah CA. Sanjay Voice of CA' Agarwal CA. Atul Kumar Gupta CA. Vijay Kumar Gupta CA. Charanjot Singh Nanda Shri Manoj Kumar Shri J. S. Deepak Shri Salil Singhal Shri Sidharth K. Birla Shri Sunil Kanoria

Co-opted Members
CA. Anil Jindal CA. Rajesh Sharma CA. I. S. Prasad CA. A. Vasudeven CA. Ravindra Kumar Agarwal CA. Nirmal Kumar Bothra CA. Sailendranatha Pillai

Director, Board of Studies

Shri Vijay Kapur