Chartered Accountancy Course
Scheme of Integrated Professional Competence Course (IPCC) and Final Course
BOARD OF STUDIES THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
Chartered Accountancy Course.
All rights reserved © The Institute of Chartered Accountants of India, New Delhi, India
No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form, or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior permission, in writing, from the publisher.
http://www.icai.org E-mail: firstname.lastname@example.org
ISBN : 978-81-8441-155-3
Revised : June, 2011 Updated : January, 2012
` 100 USD 10
Published by Designed & Printed at
: The Publication Department on behalf of The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi - 110 002, India : Repro India Limited, Plot No. 50/2, T.T.C. MIDC Industrial Area, Mahape, Navi Mumbai - 400 710. January / 2012 / 40,000 Copies (Updated)
The Indian Chartered Accountancy Profession will be the Valued Trustees of World Class Financial Competencies, Good Governance and Competitiveness.
T be among the keenest students of Chartered o Accountancy anywhere in the world. financial management.
. in order to equip Indian firms. related services and corporate governance.companies and organizations with the highest standards of accountancy. audit.
2.2.11 5.6 5.4 5.2.4 Final Course 5 Integrated Professional Competence Course (IPCC) 5.8 5.2 5.Contents
1 2 3 4 The Institute The Accountancy Profession Educational Activities Scheme of Education and Training 4.10 5.1 Common Proficiency Test (CPT) 4.2 Objective of the Scheme Different Stages in Chartered Accountancy Course 1 1 1 3 3 3 3 4 5 5 6 7 7 7 8 8 8 9 10 10 10 11
4.5 5.2 Integrated Professional Competence Course (IPCC) 4.1 4.3 5.1 5.2.3 Accounting Technician Course (ATC) 4.7 5.12 Eligibility Requirement for Registration Registration Fees Registration Procedure 100 hours Information Technology Training (ITT) Orientation Programme Admission to Integrated Professional Competence Examination.9 5. Fees and Syllabus Subjects for Study Reading Material Modes of Imparting Theoretical Education Requirements for Passing the IPCE/ATE Period of Articled Training
Relaxation from undergoing Orientation Programme and extension of completion 11 date of Information Technology Training (ITT) under Integrated Professional Competence Course (IPCC)
3 9.7 Objectives of Training Programme Design of Training Programme Categories of Work Experience Providing Effective Work Experience In-house Theoretical Training Stipend to Articled Assistants Applicable on or after June 1.1 7.3 7.5 7.1 8.6 Registration for the Scheme Duration Course material Training details Certification 100 hours ITT for Differently abled Students
Final Course and Admission to Final Examination 8.1 10.6 6.6
Practical Training/ Work Experience / Articled Training 6.1 9.2
Exemption from payment of fees to differently abled students for undergoing General Management and Communication Skills Course 35 Four Weeks Residential Programme on Professional Skills Development 35
.3 6.4 7.2 6.5 Scholarships for Meritorious Students Fee Concessions to Differently abled Students Other Fee Concessions and Scholarships Differently abled students are exempted from Orientation Programme Differently abled students are exempted from payment of ITT fee
Course on General Management and Communication Skills 10. 2006 Permission to Pursue Other Courses of Study Including Guidelines on Working Hours
13 13 14 16 18 21 22 22 25 26 26 26 27 28 28 29 31 31 32 32 33 34 34 34 34
100 hours Information Technology Training (ITT) 7.2 9.4 6.5 6.2 Final Course Requirements for passing the Final Examination
Scholarships and Fee Concessions 9.1 6.4 9.2 7.
2 13. 2011 62 Annexure VI: Paper-wise Exemption in IPCC/ATC available to old students of Intermediate/ Professional Education (Course –II)/ Professional Competence Course 65 Annexure VII: Syllabus of 100 Hours Information Technology Training Annexure VIII: List of Examinations treated as equivalent to Senior Secondary Examination Annexure IX : Syllabus of Final Course Where to Submit/ Despatch filled-in Application Form 72 78 80 95
Accounting Technician Course (ATC) 11.3 13.1 13.2 Guidelines for imparting Accounting Technician Training – Work Experience Areas of Training
37 38 39 41 41 41 42 42 42 43 43
Membership of the Institute Opportunities for Chartered Accountants 13.4 Independent Professional Practice Management Consultancy Services Opt for Industry/ Government Organisation Global Scenario
14 15 16
Memorandum of Understandings (MOUs) with Indian Universities Memorandum of Understandings (MOUs) with Overseas Accountancy Bodies Annexures:
Annexure I: Fees to be charged from the students registering for Integrated Professional Competence Course (IPCC)/ Accounting Technician Course (ATC) 44 Annexure II: Fees to be charged from old students registering for Integrated Professional Competence Course (IPCC)/ Accounting Technician Course (ATC) 45 Annexure III: Final Course Registration Fee 46
Annexure IV: Syllabus of Integrated Professional Competence Course (IPCC)/ Accounting Technician Course (ATC) 47 Annexure V: Accredited institutions for conducting oral coaching classes for Integrated Professional Competence Course (IPCC)/ Accounting Technician Course (ATC) as on September 15.1 11.
3.78. The Council consists of 40 members of whom 32 are elected from among the members of the Institute and 8 are nominated by the Government of India. Muscat. Confederation of Asian and Pacific Accountants (CAPA) and South Asian Federation of Accountants (SAFA). Eastern Province (Saudi Arabia). Indonesia. The Institute has its headquarters at New Delhi. Melbourne. Kolkata. Kanpur and New Delhi and 128 branches spread all over the country. 1988. Bahrain.1. the Chartered Accountancy profession has achieved rapid growth by virtue of quality professional services rendered by its members.1
The Institute of Chartered Accountants of India (ICAI) is the premier professional accountancy body of the country. today the membership of the Institute is around 1. Nairobi. Chennai. 1949 under the Chartered Accountants Act. 9. London. Nigeria.11. Botswana.
2. Increasing responsibilities are being placed by the Government and the society on the members of the profession and their specialised knowledge and skills are being utilised in various fields of activities. Riyadh. It also holds qualifying examinations for them and grants membership to successful candidates and certificates of practice to members intending to practice the profession. Presently it has approx.1
Board of Studies The Board of Studies is responsible for formulating and implementing the policies and
. New York. As against a meager membership of 1. Port Moresby(Papua New Guinea). The Institute is playing a prominent role in the international accounting bodies by virtue of its membership and active involvement in the activities of International Federation of Accountants (IFAC). it has five regional councils located in Mumbai. 1949.3
As part of its responsibility to regulate the profession of Chartered Accountancy.
1. Kuwait. enacted by the Parliament to regulate the profession of Chartered Accountancy in India.
1.700 in 1949.000. The Institute has also 21 chapters outside India located in Abu Dhabi. requires the students of CA course to undergo practical training and monitors their training. The Institute is governed by a Council in accordance with provisions of the Chartered Accountants Act. Doha. and has come to occupy a prominent role in our economy and society. Toronto and Zambia.9 of 2006) and the Chartered Accountants Regulations. In addition.000 students on its roll in different stages of Chartered Accountancy curriculum. Sydney. 2006 (No.1
The Accountancy Profession
Over the years. imparts theoretical education to them. 1949 as amended by the Chartered Accountants (Amendment) Act. Statutory recognition is given to the role of the members of the profession and their audit / certification is insisted upon for various purposes in different statutes.
1. established in July.
3. Jeddah. Singapore. the Institute enrolls students for the Chartered Accountancy (CA) course. Dubai.
are also prepared on a regular basis. These are on Management Accountancy. Providing Lectures through Web TV. The ICAI also organises Certificate Courses for members. Publication of the monthly Journal – ‘The Chartered Accountant Student’. Derivatives. Public Speaking.3
. Preparation of E-learning and web-based learning materials such as interactive CDs on selected topics relevant to curriculum. Corporate Governance. Insurance and Risk Management. Corporate Management. CPT. maintains liaison with the students’ associations and their branches and motivates them to organise various educational activities. Board of Studies also lends technical support to various committees. Publication of booklets on various aspects of self-development such as Personality Development. Information Systems Audit. with the assistance of Regional Councils and Branches. International Trade Laws and WTO. 3. Tax Management. Forex and Treasury Management.2 The Institute also conducts post-qualification courses through its committees. General Management & Communciation Skills Programme and Information Technology Training.programmes relating to the education of students pursuring Chartered Accountancy course.. It also organises students seminars. Besides the above. Other educational inputs as an effective aid for students like. Live Virtual Classes (LVC). These are on Enterprise Risk Management. The following are the main activities carried out by the Board of Studies on a continuous basis: • Preparation and continuous revision of comprehensive study material including practice manual covering all the subjects prescribed for study for the students undergoing the Chartered Accountancy courses viz. Master in Business Finance. Communication Skills. The mission of the Board of Studies is to provide a strong foundation of knowledge. International Financial Reporting Standards. Time and Stress Management. etc. Arbitration and Valuation. Preparing for Examinations. PCC/ IPCC and Final and their distribution to students registered for various courses through regional offices and select branches. Suggested Answers. International Taxation. Periodical Supplements. Organizing oral coaching classes (Revision/Intensified) crash courses at various centres. Organizing Tele-conferencing programmes on various topics of Chartered Accountancy Course.
• • •
• • •
3. Revision Test Papers. quiz contests and elocution contests. conferences. e-learning etc. etc. the Board of Studies also conducts Orientation Programme. In addition. skills and professional values that enables them to grow as wholesome professionals and adapt to changes throughout their professional career.
and Inculcating analytical ability among the students through case studies.2
Different stages in Chartered Accountancy Course
4.1 Common Proficiency Test (CPT) It is an entry level test for Chartered Accountancy course.1
Objectives of the Scheme The main objectives of this scheme are – • • • • • • • Conducting a uniform entry level test – Common Proficiency Test (CPT) Encouraging young talented students having aptitude for accounting education to make an early entry to the profession. The Auditing and Assurance Standards Board issues Auditing and Assurance Standards and other Guidance Notes to provide guidance to members.2.3. Continuing Professional Education Directorate is engaged in conducting continuing professional education for Chartered Accountants.
Scheme of Education and Training
The Institute of Chartered Accountants of India periodically reviews its scheme of education and training to remain in tandem with developments in the field of education and other changes at the national and global levels. 2008. This test is of 200 marks. Accordingly. Inculcating technical skills through Information Technology Training.
The Accounting Standard Board of the Institute regularly prepares and publishes. Instilling interpersonal and soft skills through Orientation Programme and General Management and Communication Skills (GMCS) course. Accounting. Imbibing professional ethical values and attitudes among students. Complementing theoretical education by practical training. Accounting Standards and Statements. It is a test of four subjects i.e. It organises technical conferences / seminars / residential courses in various parts of the country and abroad to enable the members to update and sharpen their professional knowledge and skills through the process of active interaction and open exchange of ideas and perspectives.
4. the present scheme of education has been designed and implemented from December 10.5
4. This test is divided into two sessions of two hours
. Mercantile Laws.
4.. General Economics and Quantitative Aptitude with an objective to test the basic knowledge in these subject areas. which is held twice in a year in June and December. Technical Guidance Notes and other relevant literature to clarify issues and provide guidance to members. Evolving business also demands newer skills from the accounting professionals.
2 Integrated Professional Competence Course (IPCC) The next step after CPT examination is IPCC. A student would undergo theoretical education and three years of practical training after passing Group-I of IPCC/Accounting Technician course. Subjects to be studied in CPT are as follows: • • • • Fundamentals of Accounting Mercantile Laws General Economics Quantitative Aptitude
.each with a break in between. students of IPCC have to undergo nine months study course. advanced application knowledge of core and allied subjects is being inculcated. students are imparted 100 hours Information Technology Training (ITT) and have to undergo 35 hours Orientation Programme before the commencement of articled training. Since proper understanding of the modern world necessitates knowledge of present day technology and skills.2. In IPCC curriculum. This balanced approach helps the students to appreciate the underlying practical applications of the theoretical education scheme. while at the Final level. CPT is an objective type test with negative marking. only working knowledge of core and allied subjects relevant to accountancy profession is imparted. The unique feature of the entire theoretical education of the Chartered Accountancy curriculum is the supportive and complementary practical training. In order to develop a strong theoretical base.
taxation. 4. group dynamics and developing knowledge of business meetings and legal documents. business environment and corporate governance.2. Building knowledge of business strategies. A candidate who does not wish to complete erstwhile Intermediate/ PE-II/PCC/IPCC can opt for the Accounting Technician Course. corporate laws. The syllabus of the final course is available at Annexure . a student has also to complete General Management and Communication Skills (GMCS) Course.IX. auditing and professional ethics. as per the guidelines of the Council and on production of a certificate to this effect he will be issued Accounting Technician Certificate. 4. Imbibing ethical values through a module of Business Ethics.Optional A candidate may opt for Accounting Technician Course. Imparting basic knowledge of e-filing under the company law leading to development of advanced knowledge of e-governance at the final stage.2. Introducing Service Tax and VAT as special module with the purpose of strengthening knowledge of indirect tax. While undergoing final course. 35 hours Orientation Programme and 100 hours ITT before appearing in Accounting Technician Examination (ATE).Integrated Professional Competence Course: Highlights • • • Improved knowledge of accountancy linked to accounting standards to build strong foundation for developing knowledge of Financial Reporting at the Final stage. Upgraded modules of Audit and Assurance.3 Accounting Technician Course (ATC) . systems control. Updated knowledge of business communication through modules of developing soft skills.
• • • • •
. Such a candidate has to undergo a study course of nine months. he will also be required to complete 12 months of work experience. leadership style. Upgraded module of Information Technology linked to the 100 hours Information Technology Training.4 Final Course The last leg of the Chartered Accountancy course is Final course. strategic finance and advanced management accountancy. It is to be noted that Group I of IPCC is equivalent to ATC. which has been designed to impart expert knowledge in financial reporting. After passing Accounting Technician Examination (ATE). Cost Accounting and Financial Management.
Join CA Final Course: • • • • (v) After passing IPCE register for Final course with the Board of Studies.
Integrated Professional Competence Course (IPCC)
Chartered Accountancy Course is a two staged programme .
Appear in the final examination on completion of the practical training or while serving last 6 months of articled training on or before the last day of the month preceding the month in which the examination is to be held. and Complete articled training of 3 years. Group I and Group II. • Clear Group II of IPCC if not done earlier.. if not completed earlier. IPCC is composed of two levels viz.
5. Collect study material of the Final course and prepare for the Final examination.In nutshell. The first stage of theoretical education i.Integrated Professional Competence Course and Final Course.e. Undergo General Management and Communication Skills (GMCS) course while undergoing Final course. • Undergo Orientation Programme • Complete 100 hours ITT • Students are advised to undergo Orientation Programme and complete 100 hours ITT at the earliest and compulsorily before commencement of their articleship. viz. • Appear in IPCE/ATE on completion of 9 months of study course one day prior to the month in which the examination is to be held • Join articled training after passing Group I of IPCC. Join IPCC/ATC after passing CPT and 10+2 examination. students registered on or before 1st April/1st October will be eligible to appear in June/December examination. Pass final examination and complete GMCS. Appear in 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 (refer Annexure VIII) and after completion of specified period (60 days) from the date of registration for CPT with the Board of Studies and first day of the month in which the examination is to be held. following are the requirements for becoming a Chartered Accountant
(i) Enrol with the Institute for Common Proficiency Test after passing class 10 th examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto. as the case may be. IPCC comprises of six subjects and
. Enrol for membership.
A candidate who has registered in the erstwhile Intermediate / PE-II may switchover to IPCC and continue their studies in Chartered Accountancy course. should enclose the following: 1) 2) 3) Demand Draft/Pay Order towards IPCC registration fee. on passing either Group I or both the groups of IPCE. while submitting IPCC registration form at concerned Regional office. Payment of fees is to be made as per detailed chart given as Annexure .3 Registration Procedure A student should submit filled-in registration form for Integrated Professional Competence Course or Accounting Technician Course supplied alongwith Prospectus available at sale counters of decentralised offices. a student has to join three years of practical training. an attested copy of the same is to be submitted to the Regional Office without fail for procedural compliance). IMPORTANT: Students. 100 hours Information Technology Training and three years of practical training. They shall have to complete the same before commencement of articled training. As soon as the original CPT marks statement is received. These forms can also be downloaded from Institute's website www. Student has to register and undergo Orientation Programme and 100 hours ITT at any time after registration to IPCC. Group I and ATC or ATC and/or Group II or Group I and Group II or for all the levels. On receipt of filled-in form and the requisite fee. a student is required to produce a copy of the registration letter. While taking admission to 100 hours ITT and Orientation Programme with regional/branch office. Copy of CPT Pass marks statement (students are advised not to wait for CPT marks statement to be received from Examination division for registration to IPCC but proceed for IPCC registration with a copy of downloaded CPT marks statement. 5.org.
. 5.seven papers of 100 marks each.I 5.icai. the concerned decentralized office will issue study materials for Group I and/or Group II or IPCC/ATC. It is complemented by Orientation Programme.2 Registration Fees A candidate may opt for registration for Group I or ATC. In addition. Attested copy of 12th pass or its equivalent Central Government recognised examination pass marks statement (refer Annexure VIII). The decentralized office will also issue registration letter.1 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 recognized by the Central Government as equivalent thereto (refer Annexure VIII) may join the Integrated Professional Competence Course or may opt for Accounting Technician Course.
The Orientation Programme is carried out through Regional Councils. an updated version of the computer training programme relevant for the professional practice has been designed. It has been planned to synchronize theoretical knowledge with practical training.
5. for a period not less than nine months as on the first day of the month in which the examination is held. Business Environment and General Commercial Knowledge. The 100 hours ITT has been linked to theoretical knowledge imparted through Paper on Information Technology.4
100 Hours Information Technology Training (ITT) Under the present scheme of education and training. knowledge of Electronic Spread Sheet. The topics dealt under the programme are: Personality Development. Branches and Chapters of the ICAI which would charge a separate fee of ` 3.000. Communication Skills.6
Admission to Integrated Professional Competence Examination. Fees and Syllabus (1) A candidate shall be admitted to Integrated Professional Competence Examination if: (a) he is enrolled for the relevant level(s) of the Integrated Professional Competence Course/Accounting Technician Course. Data base Management System. Office Procedures.5
Orientation Programme The candidates registered for Integrated Professional Competence Course/Accounting Technician Course are required to complete the Orientation Course of 35 hrs. In addition.5. A student has to complete 100 hours ITT before commencing his articled training. Highlights of the present computer training programme are as follows: • • The 100 hours ITT is moduled in 20/25 days @ 5/4 hours per day on full time basis. The training components would focus on application softwares relevant for accounting and auditing. and
. he produces a certificate to the effect that he has undergone a study course.000/-. Web-technology and System Security and Maintenance are strengthened. Students while undergoing Orientation Programme & Information Technology Training (ITT) Programme should invariably maintain discipline and decorum apart from adhering to dress code. duration in order to be eligible for joining articled training.
• • •
5. The 100 hours ITT is carried out through Regional Councils and Branches of the ICAI which would charge a separate fee of ` 4.
as may be fixed by the Council. The contents of subjects and papers of Group I of IPCC and ATC are same.7
Subjects for study Six subjects and seven papers of study in IPCC are – Group I Paper 1: Paper 2: Accounting (100 marks) Business Laws.(c)
he has completed 100 Hours Information Technology Training or Computer Training Programme at any time but. The detailed contents of the syllabus are given in Annexure – IV. The subjects of IPCC are classified into two groups. Ethics and Communication (100 marks) Part I: Business Laws (60 marks) Business Laws (30 marks) 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: Paper 6: Paper 7: Advanced Accounting (100 marks) Auditing and Assurance (100 marks) 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’. before joining for articled training.
A candidate for the Integrated Professional Competence Examination shall pay such fees.
. A student can study and appear in the examination group-wise or both the groups together.
In addition.5. ATC and Final Course. as well as accredited institutions.
5. 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. Lectures through Web TV. information technology training modules and training guide. revisionary test papers and suggested answers to the questions set in various examinations. IPCC. and Guidance through guidance@icai. 5. Two different coaching modules are designed for conducting oral coaching classes for PCC/IPCC: Module I Crash Course Module Module II Regular Course Regular course comprising 2 hours per day Total teaching hours: 350 Module of 175 days Fees to be charged for different modules will be fixed by the accredited institutions. if he (a) secures at one sitting a minimum of 40 per cent marks in each paper of each of the groups and minimum of 50 per cent marks in the aggregate of all the papers of each of the groups. (i) A candidate shall ordinarily be declared to have passed in both the groups simultaneously. the Board of Studies organizes classroom lectures through its Regional Councils and Branches.8
Reading Material The Board of Studies provides a comprehensive reading material for all subjects. A list of accredited institutions which are presently imparting oral coaching for Professional Competence Course/ Integrated Professional Competence Course is given in Annexure – V. Crash course comprising of 100 days 3 hours per day Total teaching hours: 300
. ATC and Final course. He/she is declared to have passed the IPCE/ATE. or secures at one sitting a minimum of 40 per cent marks in each paper of both the groups and a minimum of 50 per cent marks in the aggregate of all the papers of both the groups taken together. if he/she passes in both the groups. IPCC. Live Virtual Classes (LVC).9
Modes of imparting theoretical education The Board of Studies imparts theoretical instruction through distance education mode to the students of the CPT course.org.10 Requirements for passing the IPCE/ATE A candidate may appear in both the groups simultaneously or in one group in one examination and in the remaining group at any subsequent examination.
A candidate shall be declared to have passed in a group if he/she secures at one sitting a minimum of 40 per cent marks in each paper of the group and a minimum of 50 per cent marks in the aggregate of all the papers of that group. 5.II) and then converted
Exempted on the basis of having completed minimum period of nine months from the date of registration for Intermediate Course
Produce ITT completion certificate at the time of registration for Final Course
Exempted on the basis of having completed minimum period of nine months from the date of registration for erstwhile Intermediate/ Professional Education
Produce ITT completion Exempted certificate at the time of registration for articled training (CCT completed earlier is valid in IPCC also)
. (Refer Annexure – VI). a student who has been granted exemption in a paper or more than one papers of Professional Education (Examination – II) or Professional Competance Examination under Regulation 37A (7) or 37B (6) of the Chartered Accountants Regulation 1988. A student shall be eligible to join articled training after passing Group I and Group II of IPCC or after passing Group I of IPCC/ATC.11 Period of Articled Training A student who is registered for Both Groups of Integrated Professional Competence and has passed Group I of IPCC/ATC and has completed ITT and Orientation Programme can join 3 (three) years of articled training under a practising chartered accountant. 5. is granted exemption in the corresponding paper in IPCE. Category of Students Nine months study course period in IPCC
(As per the Announcement dated February 5.12 Relaxation from undergoing Orientation Programme and extension of completion date of Information Technology Training (ITT) under Integrated Professional Competence Course (IPCC) The Council at its 297th meeting held in August. 2010 decided to give following relaxation/ extension in completion of Orientation Programme and Information Technology Training (ITT) in respect of different streams as given below:
Sl. In addition.
A candidate who has passed in any one but not in both the groups either of the Intermediate Examination or Professional Education (Examination – II) or Professional Competance Examination is granted exemption from passing the corresponding paper(s) in IPCE. 2010)
Information Technology Training (ITT) in IPCC
Orientation Programme in IPCC Exempted
Students who have registered for the erstwhile Intermediate Course and completed their articled training and converts to Integrated Professional Competence Course (IPCC) A Students who have registered for erstwhile Intermediate and then appeared in Professional Education (Examination .
produce ITT completion certificate at the time of registration for Final Course Complete Orientation Programme before registering for articled training
Students who have registered initially for Professional Competence Course and then switched over to Integrated Professional Competence Course (IPCC)
Students registered for Integrated Professional Competence Course
NO EXEMPTION Complete ITT before Must complete nine months registering for articled study course period as on training the first day of the month in which examination is held
Category of Students
Nine months study course period in IPCC
(As per the Announcement dated February 5.Sl. 2010)
Information Technology Training (ITT) in IPCC
Orientation Programme in IPCC
to Integrated Professional (Course – II) or completed Competence Course nine months study course (IPCC) period in IPCC B Students who have initially registered for the Professional Education (Course – II) and then switched over/ switching over to Integrated Professional Competence Course (IPCC) Exempted on the basis of having completed minimum period of nine months either from the date of registration in Professional Education (Course – II) or completed nine months study course period in IPCC Produce ITT completion Exempted certificate at the time of joining for articled training or if the articled training continuing/ completed produce ITT completion certificate at the time of registration for Final Course (CCT completed earlier is valid in IPCC also)
C Students who have initially registered for the Professional Education (Course – II) and then switched over to Professional Competence Course (PCC) and then to Integrated Professional Competence Course (IPCC)
Exempted on the basis of Produce ITT completion Exempted having completed minimum certificate at the time of period of nine months either rejoining for balance period from the date of registration of articled training or if in Professional Education the articled training (Course – II) or completion continuing.No. produce ITT of nine months after joining completion certificate at the Professional Competence the time of registration for Course or completed nine Final Course(CCT months study course period completed earlier is valid in in IPCC IPCC also) Exempted on the basis of having completed nine months after joining the Professional Competence Course or completed nine months study course period in IPCC Produce ITT completion Exempted certificate at the time of rejoining for balance period of articled training or if the articled training continued.
Only students of final chartered accountancy course are eligible for industrial training. inter-firm/ intra-firm meetings. Such a theoretical knowledge can be supplemented by the firm directly by organising group meetings. etc. and • Develops ethical values.
Practical Training/Work Experience/Articled Training*
The unique requirement of practical training/work experience/articled 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. • Develops necessary skills in applying theoretical knowledge to practical situations. The entire period of practical training can be served with a practising member or it can be served partly with a practising member and partly in an approved industrial establishment as an Industrial Trainee. • Provides exposure to overall socio-economic environment in which organisations operate.
The primary responsibility of imparting theoretical education rests with the Board of Studies through distance learning mode. Such a practical training: • Inculcates a disciplined attitude for hard work.6. Practical training. and to inculcate a professional and ethical approach. The period of such industrial training may range between 9-12 months during the last year of the prescribed period of practical training. encompassing sufficient range
* Refer to Training Guide for details.1
Objectives of training programme The main objectives of the training programme include the following: (i) Acquisition of adequate theoretical knowledge: The objectives of the theoretical education meant for the chartered accountancy course are • • • to impart necessary technical knowledge in relevant fields.
6. to build up necessary comprehension and analytical skills. The Principal ensures on a day-to-day basis that trainees acquire and assimilate adequate theoretical knowledge with a view to providing strong foundation for building up of a professional chartered accountant.
. A student who has passed Group I and Group II in one sitting or Group I can join three years of articled traning. (ii) Developing skills in applying theoretical knowledge to practical situations: A professional accountant is not only required to acquire necessary theoretical knowledge but also to possess necessary skill to apply that knowledge to practical problems encountered by him.
Imbibing due professional orientation: Practical training imparted by a firm of chartered accountants must aim to endow due professional orientation amongst trainees. skills and qualifications needed to undertake the work and to provide supervision to trainees.2
Design of training programme
6. it is imperative that he must be acquainted with the role of a chartered accountant and the code of ethics. (iii) Inculcating a disciplined attitude: Practical training scheme also has the effect of disciplining and conditioning the mind of the trainee so that he gets attuned to the work environment and learns the virtues of patience and methodical work. Thus. type and total amount of work generated by the firm. Ability to communicate and articulate effectively with the client must also be developed as a part of the training programme. will become a member of the Institute. availability or otherwise of senior trainees for supervising the work done by junior trainees. The ability to develop solutions to practical problems through application of theoretical knowledge is acquired by the trainees in the course of their practical training. an assessment of the partners and staff with the experience. Apart from virtues of independence and integrity.1 The Member Incharge of Training (MIT)/Principal may make a detailed assessment of the training environment so as to identify the areas in which the firm must provide training and the contribution which the firm can expect from trainees. a training programme must blend theoretical knowledge and practical training. The following factors may be considered in this context: (i) (ii) a review of the timing. particularly experience needs to be supplemented by theoretical training. Since the trainee. Such an assessment will ensure that the training programme is relevant to the needs of the trainees and the firm.and depth of work experience. Developing ethical values: Practical training also helps the trainees to develop professional competence and related skills as also to acquire certain ethical values and norms expected of professional accountants. reviewing the arrangements for instructions. on completion of practical training and on passing the examination.2. integrity.
. The sincerity. enables a trainee to acquire knowledge and skill by participation in activities performed by professional accountants. objectivity and hard work of individual members of the Institute contribute to the position and prestige of the whole profession. trainees must imbibe professional orientation towards clients and social consciousness.
by secondment etc. (The effect of releasing trainees from assignments for courses or study leave must be taken into account). etc. are considered in detail in later paragraphs. Assigning higher levels of technical and supervisory responsibility and client contact designed to ensure that personal and managerial skills are developed.2. which will update the Trainees/Students with latest knowledge and developments.
6. (ii) Designing a study plan to ensure that trainees are fully prepared to take examinations for which they are eligible.2
In designing the training programme. the following components are considered simultaneously so as to make it meaningful: (i) (ii) (iii) (iv) Categories of work experience In-house theoretical training Development of professional attitude Phasing of training programme.
The training programme is planned to ensure that the above components are included therein. and whether there are any deficiencies in the work experience available to trainees and how these may be overcome e. Ensuring that work experience is preceded and backed by practical instruction including briefing before each assignment to ensure that the requirements of Accounting Standards and Auditing Standards relevant to the business of the auditee. 6.3 While considering integration of various components of a training programme the following elements are noteworthy: (i) Assigning progressive work experience commensurate with the expanding abilities of the trainees around:a number of ‘core’ assignments for each trainee. and further assignments selected to broaden the trainee’s experience which will not necessarily be repeated.
.g. are fulfilled and that application of practical techniques to the circumstances of individual clients is properly understood. Ensuring that any in-house theoretical training is integrated with practical work experience.(v)
The period for which trainees will be available for work.2. The above components which are integrated into a logical sequence and which will provide trainees with the skills expected of them.
3.1 The categories of work experience are generally grouped as under: Accounting Auditing (including internal audit) Taxation (direct and indirect) Information technology Management services (including services in the field of financial management and corporate affairs) Other areas. manual or computerised Preparing final accounts Application of statutory provisions.
6. tax audit. internal audit. operational audit. EDP audit. Analysis and interpretation of financial statements Preparing and reviewing budgets Preparing and reviewing fund flow and cash flow statements. compliances of Accounting Standards and other pronouncements of the Institute. etc.(vi)
Ensuring that professional attitude and an understanding of professional ethics are developed by all trainees.3
Categories of work experience
6. recording and evaluating internal control system Performing substantive audit procedures Scrutinising financial statements Compliance with auditing and assurance standards Drafting audit report
. 6.2 The aforesaid areas generally include the following: (i) Accounting includes Financial Accounting and Management Accounting: Maintaining of books of accounts. (ii) Auditing includes statutory audits.3. if any. management audit and certification work: Preparing audit programmes Audit working papers and documentation Understanding. audit of various type of business and nonbusiness organisations.
Expenditure Tax. enterprise resource planning.g.(iii)
Taxation includes both direct and indirect taxes:Computation of total income under Income Tax Law Computation of total wealth under Wealth Tax Law Preparation and filing of returns under various direct tax laws like Income-tax. etc. Procedural compliance under various direct and indirect tax laws e. etc. Developing and maintaining data bases Data extraction and analysis techniques E-commerce – audit and legal considerations System development life cycle Business continuity planning Information security Information systems audit Cyber laws and information technology
Management consultancy and other services including services in the field of financial management and corporate affairs such as: Preparation of fund flow and cash flow statements and forecasts Projection of working capital requirements
. documents. State Sales Tax. tax deduction/collection at source. etc. etc. appeals etc. Wealth-tax etc. for the purpose of various direct tax laws e. Wealth Tax. interest for late payment of taxes. etc. Classification and valuation under various indirect tax laws like Excise Law. Valuation of stocks. schemes. Tax planning Drafting of relevant deeds. Central Sales Tax. Income from Capital Gains. etc.
Information technology including computer applications Use of skills acquired by the students during the 100 hours Information Technology Training in their actual work areas such as: Use of customised or standard accounting packages. securities. Service Tax. VAT.g. Preparation and filing of returns under various indirect tax laws like Excise Law.
organisational structure. clarifying relevant issues during the review of completed work. work experience in the area of accounting and auditing may not be distinguishable in actual practice as both areas are quite inseparable from each other. skill and understanding required to perform that work effectively. The assignment should be discussed with the trainee in advance and he should be informed about the nature of the client’s business. Further. the general economic conditions in which client operates and special features.1 The trainee’s academic and other background should be ascertained and the work assigned should be such as would give him new experience. The following steps may be taken in this direction: (i) ensuring that before undertaking new work. if any.
Other areas may include work study. new issues and matters concerned therewith including SEBI Guidelines Drafting of Minutes Insolvency/Liquidation proceedings.3 The categorization of work experience as above should not be considered exhaustive or rigid as it is quite likely that working in a particular field may also overlap with other areas. Necessary additional briefing should be given to such trainees who do not possess an educational background like a degree in Commerce. design and conduct of training programmes. the following procedures may be observed:6. For instance. regarding the assignment. instruction or correction as may be necessary.Preparation of project reports Preparation and processing of loan applications Amalgamation and merger schemes Planning capital structure Drafting of Memorandum and Articles of Association Formation of Companies
Preparation and analysis of Prospectus Raising of capital.
. as a normal part of the supervisory process. computers may be used in any of the aforesaid categories of work experience. providing any further explanation. trainees receive the knowledge.4.4 Providing effective work experience To make work experience effective. 6. It is also preferable to assign all aspects of the work to a trainee in progressive stages rather than small portions of unrelated jobs. corporate planning.
inter alia. It needs little emphasis that work experience should not be confined to particular areas of work. 6. noted by the MIT/Principal can be taken care of while allocating subsequent assignments. etc. familiarise himself with various admissible and inadmissible deductions and prepare comprehensive draft tax returns.4.3 In the case of a tax assignment. members with adequate knowledge and background of industrial functioning. the trainee should be encouraged to study the audit reports of previous years to acquaint himself with all the relevant facts. It is essential that the member imparting training in
.2 In the case of an audit assignment.4. who intend to build their careers in industries. in a manner mutually beneficial.4 For achieving maximum benefit. it induces the trainee to understand the “why and how” of the matters under consideration. if any. encourages the trainee to ask questions to appreciate the relationship of his work to the entire assignment and to understand other related aspects of work which might have been overlooked. Wherever possible. but should cover all aspects of work in a chartered accountant’s office.4. An exposure to the working environment of a large commercial organisation will give them an integrated view of its operations.5 Review of the work experience by MIT/Principal on a continuous basis would ensure that work performed by the trainee is of requisite standard. It is intended to provide the trainees with a new dimension to their experience. the trainees who have acquired sufficient background of tax laws may be briefed about peculiar features of transactions of a client requiring special tax considerations. after becoming chartered accountants. In brief. This would necessarily involve exposure of trainees to the entire gamut of activities of industrial establishments in a phased and systematic manner. a review of the working papers must be conducted in the presence of the trainee and additional work or enquiry should be assigned to the same trainee. The concept. envisages the preparation of trainees. a visit to the client’s works should also be arranged.6. It also diversifies their practical experience and helps them in developing the attributes of team work and correlation with members of other professions and disciplines. refer relevant case laws. in furtherance of its objectives of providing to the industries. Training in an industrial/commercial/financial environment provides the trainees with the opportunity to develop a problem-solving attitude and to have an insight into the functioning of the accounts department. experience and knowledge and when conducted on a friendly basis. 6. conceived the concept of industrial training. The importance of working papers should also be explained to the trainee.4. The trainee may be encouraged to study and analyse prior years’ assessments. 6. 6. etc.4.6 Industrial Training (Regulation 51) The Institute. The review gives a good opportunity to transmit to the trainee the benefit of a senior ’s skill. Deficiencies in the work experience. Such a review would also assist the MIT/Principal in subsequent completion of Training Records.
the principal has to issue service certificate in the approved form i. commercial. the closing of accounts provides an opportunity for them to acquire the skills necessary as a concomitant to the theoretical knowledge which they have acquired earlier. for instance. It also provides an opportunity to them to participate in the work relating to corporate laws. management information system. Eligibility and other conditions for undergoing Industrial Training (i) An articled assistant who has passed the Integrated Professional Competence Examination / Professional Competence Examination/ Professional Education (Examination . The member to whom the trainee is seconded is not entitled to train more than two such trainees on secondment at a time. 6 . EDP.
Industrial training also offers an opportunity to the trainees to take part in specialised accounting exercises. In order that maximum advantage can be taken of this procedure. in the office of another member in practice on the basis of a mutually agreed arrangement. Form No. The procedure relating to secondment enables an articled trainee to gain practical experience. The aggregate period of secondment cannot exceed one year provided
. 104 On satisfactory completion of industrial training. etc. An Associate who has been a member for a continuous period of at least three years is entitled to train one industrial trainee and fellow is entitled train two industrial trainee at a time. Thus. the arrangement of secondment has been provided in the Regulation 54.II) or Intermediate examination can serve as an Industrial trainee in any of the financial. 105. 7 Secondment/Exchange (Regulation 54) In order to expose the trainees at large to multi-disciplinary work and variety of business situations. An agreement of training is to be entered in the approved form i. cost accounting. in areas where the Principal may not be in a position to provide the same. Industrial training may also expose the trainees to management accounting. The Industrial Training shall be received under a member of the Institute. Articled assistant before proceeding for Industrial Training has to intimate his principal at least three months before the date on which such training has to commence. whether such trainees are articled assistants or audit assistants. recognises that perception of the overall business environment is the prime objective of such training.e. Form No. the secondment scheme has been made flexible. industrial undertakings as may specified by the Council or such other institution or organization as may be approved by the Council from time to time. Minimum period of Industrial Training may range between nine months and twelve months during the last year of prescribed period of practical training.industrial including commercial and financial enterprises.e. taxation and secretarial practice. Secondment is allowed with the consent of the articled trainee from one employer to a member who is entitled to train articled trainees in his own right or to a member in industry who is entitled to train industrial trainees. 4 .
This may be more cost-effective than providing individual instruction. basic book-keeping. the Institute (in particular.
.1 It is another important component of practical training as practical work experience can be supplemented by arranging in-house theoretical training.2 A theoretical training programme would include the following :An induction course for new trainees introducing the office. student training records. accounting. Some of the advantages may be listed as follows: (i) Sharing of work experience by one set of trainees with another batch leads to enhancement in overall level of knowledge. Apart from the secondment of a trainee from one firm to another firm or to an industry. Theoretical training may be provided by the firm or through a group training scheme organised by two or more firms. if any. the total period spent in industry including the period of industrial training should not exceed one year. in practical training imparted to trainees.5 In-house theoretical training
6.5. A number of trainees can acquire practical knowledge and practise technical skills simultaneously. theory of auditing and taxation. Trainees can be exposed to latest developments in the field and asked to apply these developments in real-life situations.that the period served on secondment with any one member or his partner does not exceed six months. It is not an alternative to work experience and it cannot compensate for any deficiencies in the quality or extent of work experience within the office.
6. 6.5. During secondment the Principal is required to pay the stipend. Such training involves laying the foundation of knowledge and skills on which the work experience is built-up. firms may exchange trainees on mutual basis for a limited period to the advantage of firms and trainees. The total time devoted by supervisors is reduced as trainees tend to perform better. Communication becomes more effective. Group-discussion and presentation by trainees in the presence of MIT/Principal not only helps in sorting out ticklish points of a particular client but also in broadening the vision of trainees. its ethical standards). Such an arrangement is also quite flexible like the scheme of secondment and enables the firms to overcome deficiency. The Principal is required to keep records of the training undergone during secondment and include its particulars in the report to the Council under Regulation 64. Where an articled trainee is seconded to a member in industry.
6 Stipend to articled assistants applicable on or after June 1. from time to time. without prior permission of the Council.Periodic courses throughout the training period. are as follows:
Stipend payable per month Classification of the normal place of service of the articled assistants During the first year of training ` 1. Kanpur and Delhi with a view to providing education and training to its students and members in computer applications.500 ` 1.000 ` 750 During the second year of training ` 1.000
6. Basic supervisory skills. depending on the situation of the normal place of service of the articled assistants.5. Hands-on computer training. 6.
3. 2006 A person registered as an articled assistant is entitled to receive a minimum monthly stipend as per the rates specified under the Chartered Accountants Regulations.250 ` 1.5.000 During the remaining period of training ` 1.3 In-house theoretical training may be carried out internally by firms or by groups of firms where the size of each such firm does not permit conducting the training programme individually. whether academic or professional. Kolkata. 6. 1988 an articled/ audit assistant cannot take up any other course of study or training.
Cities/Towns having population of 20 lakhs and above Cities/Towns having population of 4 lakhs and above but less than 20 lakhs Cities/Towns having population of less than 4 lakhs
` 1. Such formation of groups would be both economical and effective. The permission may be granted to
. It is suggested that firms may encourage trainees to avail of the facilities provided at these centres wherever possible. for example: Preparation of statutory accounts. Mumbai. Preparation of working papers. 6. 2. The current minimum rates of monthly stipend payable. and Flow-charting internal control system. Chennai.4 The Institute has set up its own computer centres at regional offices viz.250
1. Analytical review of accounts.7
Permission to pursue other courses of study including guidelines on working hours Under Regulations 65 and 78 of the Chartered Accountants Regulations.
M. The articled assistant registered prior to 1. In case of the exigencies of work.00 P. over and above.7. The Certificate in Form No.6
v.5 6. the aggregate number of working hours shall not exceed 45 hours per week. The normal working hours for the articled assistants shall not start after 11.4.112 and the permission so granted shall continue to be valid.112.00 A. each articled assistant registered on or after 1st April. Accordingly. and aggregate of such hours exceed 35 hours per week. In case a student does not comply with the above requirements or violates any of the above guidelines. if any. he/she shall be entitled to compensatory leave calculated with reference to number of completed working hours. 112 indicating college timings etc.2008 and undergoing graduation or any other course and who has obtained specific permission shall not be required to obtain the specific permission from the ICAI by submitting Form No.3
6. iii.7.1 During the working hours.M. where the articled assistant is required to work beyond normal working hours. within one month from the date of joining the college or course to the ICAI.00 A. for pursuing one additional course of study at a time during the period of practical training on submission of request in the prescribed form. 35 hours per week.2
6. excluding the lunch break.7. 2008 shall now be required to obtain specific permission from the ICAI for pursuing graduation or other course as permitted under the Chartered Accountants Regulations by submitting Form No. Working Hours i.7. shall be counter-signed by the concerned Principal of the college with the seal and stamp of the College and also indicating the telephone number/s and full address of the College.
. 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.M. Permission to pursue other courses 6. The requirement to work beyond 35 hours in a week should not be a practice but only in exceptional circumstances.an articled/audit assistant. an articled assistant may be required to work beyond his/her normal working hours. the articled assistant is not permitted to attend college/other institutions for pursuing any course including graduation.7.00 P. or end before 5.M. The office hours of the Principal for providing articled training to the articled assistants shall not generally be before 9. However. ii. The working hours for the articled assistants shall be 35 hours in a week. under such circumstances.4
6. or after 7.7. pursued by the articled assistant. To ensure that the working hours do not clash with the graduation or any other course. his/her articleship period shall not be recognised. iv. college timings of such course should not be such (after taking into account the time required to commute) which clash with the normal working hours of the articled training. Further.
More than 7 years but Condone the breach of Regulation 65 and enroll after two years upto 10 years from the date of the meeting at which a decision is taken for condonation as well as on completion of the Three Months’ Residential Course. in terms of the guidelines. take any other course of study or training. 1988. during the period of his service as an articled assistant. provided herein below: Period of Delay Condition(s) to be complied with by the student for condonation of delay in filing of Form 112.e. It is clarified that similar provisions shall apply to the audit assistants mutatis mutandis. Regulation 65 of the Chartered Accountants Regulations. even that be a graduation course and seek permission of the Council by filing of Form 112 duly certified by the Principal i. Upto 1 year Condone the breach of Regulation 65 and enroll after three months from the date of the meeting at which a decision is taken for condonation. whether academic or professional. Chartered Accountant and the Principal of the College concerned within 30 days of taking admission. obtained on application made in the approved form. The Executive Committee has further noted that the additional course(s) has / have been pursued by the students / articled assistants in violation of the provisions of Regulation 65 / 78 and directed that all requests be dealt with. More than 10 years Condone the breach of Regulation 65 and enroll after three years from the date of the meeting at which a decision is taken for condonation as well as on completion of the Three Months’ Residential Course. “Without the previous permission of the Council. reads as under. More than 1 year but Condone the breach of Regulation 65 and enroll after six upto 3 years months from the date meeting at which a decision is taken for condonation. More than 3 years but Condone the breach of Regulation 65 and enroll after one year upto 5 years from the date of the meeting at which a decision is taken for condonation.Permission for pursuing a course alongwith articleship [Regulations 65 & 78. The Executive Committee while considering such cases insisted that students/articled assistants to pursue only one course alongwith articleship.
. Form 112]. More than 5 years but Condone the breach of Regulation 65 and enroll after two years upto 7 years from the date of the meeting at which a decision is taken for condonation. or engage in any business or occupation.” It has been noticed that the students/articled assistants have not been adhering to the requirements of the aforesaid Regulations while pursuing another course alongwith articleship and have been declaring such a fact while applying for enrolment as a Member of the Institute and seeking condonation for Breach of Regulation 65/78 for having not taken the permission at the appropriate time. no articled assistant shall.
In this connection. no articled assistant shall. except with the permission of the Executive Committee be retained or taken as an articled assistant or audit assistant by any member”. 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. as the Executive Committee may decide from time to time.i. during the period of his service as an articled assistant. direct that the papers be filed and the complaint be dismissed. whether academic or professional. attention is invited to the Regulations 65 and 66 read with Regulation 60 of the Chartered Accountants Regulations. 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. the working hours of an articled assistant shall be 35 hours per week to be regulated by the Principal from time to time”. may cause an investigation to be made. The detailed contents of the training programme are given in Annexure – VII.” Regulation 66: (1) Enquiries against articled assistant
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.
7. on a consideration of the report of the investigation and after giving the articled assistant an opportunity of being heard.
The articled assistant. namely. The Executive Committee may. or engage in any business or occupation. make any of the following orders. the registration of whose articles has been cancelled under this regulation. the President or the VicePresident. Regulation 65: Articled Assistant not to engage in any other occupation
“Without the previous permission of the Council.7. or if the articled assistant is found guilty. The structure of ITT is as follows: Online examination ( 3 hours ) Project Report Module tests Pass marks 60 marks 20 marks 20 marks 60 marks
. shall not.
100 hours Information Technology Training (ITT)
A student is required to undergo 100 hours ITT before commencing their articled training. take any other course of study or training. obtained on application made in the approved form.6. 1988 which provide as under:Regulation 60: Working hours of an Articled Assistant
“Subject to such directions as may be issued by the Council. The training programme is for a period of 20/25 days @ 5/4 hours per day.
library fee. A written consent of the Centre Incharge of the accredited regional office/branch of ICAI is to be obtained by the student for this purpose. The course fee includes cost incurred by the regional offices/branches of the ICAI for supplying courseware as well as the cost of registration for the course.2 Duration The fresh batches shall start in the first week of each month.Existing students of Intermediate/Professional Education (Course–II)/Professional Competence Course who have not yet undergone 250 Hours Compulsory Computer Training/ 100 Hours ITT may complete the same during the study course of 9 months. Fee payable to the accredited regional office/branch of the ICAI for undergoing the computer training: A student has to pay a fee of ` 4. project and final online examination.000/. It also includes the cost of evaluation.3 Course Material The Board of Studies of the ICAI has developed its own course material. Students of PE-II/PCC. The course material is
. They have to self-study the course materials and pass two specially designed test papers as per the requirements stated in Paragraph 7.to the regional/branch office of the ICAI selected by the student where he intends to undergo 100 hours ITT. preparing results and submitting the list of eligible candidates to the Board of Studies. However. if a student needs to take a break due to unavoidable circumstances. ICAI. A student should not appear for the final online examination before he/she completes the minimum training period prescribed in the training programme. Noida and regional offices for issuance of completion certificate. computer and internet usage charges and cost of conducting training. tuition fee and other fees at the time of admission to PCC and registration of articled / audit training. which is used by all accredited regional offices/branches of ICAI during the training. marking. who have already completed 100 Hours ITT and wish to join IPCC are not required to undergo 100 hours ITT. module tests. A student has to complete training uninterruptedly.1 Registration for the scheme Students who have already registered themselves for Professional Education (Examination – II)/Professional Competence Examination and intend to switch over to IPCC need not pay registration fee of ` 2.6. Differently abled students (the meaning of which is explained in Para 9. 7. he is allowed to complete balance period of training alongwith the next batch. 7.000 for the 100 hours ITT as it was charged alongwith registration.2) are exempted from undergoing 100 Hours ITT with accredited Regional offices/branches of the ICAI. Students should note that they must undergo 100 hours ITT with the accredited regional offices/branches of the ICAI wherein they have registered for a minimum period of 20/25 days @ 5/4 hours per day or any other equivalent module covering 100 hours. 7.
a student should remain in regular touch with the centre head of the accredited regional offices/branch of the ICAI. Clearance of the two module tests.org.4. In addition. Eligibility for final online examination: After undergoing the training for specified duration. and Payment of full fee. The Board of Studies announces from time to time any change in the guidelines for 100 hours ITT through Students’ Journal – “The Chartered Accountant Student”. one reappearance for each test may be allowed free of cost.4.icai. The Chairmen of the accredited Regional offices/ branches of the ICAI are also communicated about any change in the guidelines. Attendance: The accredited regional offices/branches of the ICAI shall maintain a proper attendance record. The accredited regional offices/branches of ICAI carry out the evaluation and moderation of test papers. 7.per test. These tests carry 20% weightage.4. The students should submit the project at the concerned accredited regional offices/branches of the ICAI. Such changes are also hosted on the Institute’s website www.5 Final online examination: The final examination is of objective type and of 3 hours duration comprising of 200 questions.3 7.4 Training details Accredited regional offices/branches of the ICAI will carry out 100 hours ITT as per the detailed course contents provided by the Board of Studies.
7. Students are advised to study the appropriate course modules in detail before the relevant classes are conducted by the accredited regional offices/branches of the ICAI.1 Module tests: Each student is required to pass two module tests. They will ensure that all modules are taught as per the time duration specified in the syllabus. accredited regional offices/branches of ICAI may provide lecture notes. he has to appear for the online examination within four months. 7.4. A student is required to pass two module tests by securing at least 50% marks in individual test. The final examination is held in an on-line mode on last Sunday of the month to be conducted by the accredited regional offices/branches of the ICAI. In case a student fails to do so.4
Once a student becomes eligible. A student is required to have minimum 90% attendance.2 Project: Each student is required to prepare a multi-disciplinary project of 100 marks covering all aspects of the syllabus. While undergoing 100 hours ITT.
. a student becomes eligible for the final online examination only if he fulfills the following criteria: (i) (ii) (iii) (iv) 90% Attendance. The weightage of the project is 20%. the student is required to pay a nominal fee of ` 150/. 7. 7. Submission of the project.made available to the students at the time of registration with the decentralized office. For any additional reappearance.4.
a student is required to go to the designated accredited regional office/branch of ICAI and take the examination on-line. The nomenclature of the programme is “C.
. The appropriate decentralised office shall provide them a set of course material on registration. 7. he may have to pay a nominal fee not exceeding ` 300/. An alternative scheme has been designed as described below: Differently abled students are required to inform the Board of Studies about their option for exemption from undergoing 100 hours ITT. at the appropriate decentralized office.to the accredited regional office/branch of ICAI for every additional attempt. Since the minimum duration of the course is twenty days. Questions will be generated randomly for the students appearing for the online examination. The allocation of marks are as follows: Module tests : 20% Project : 20% Final on-line examination : 60% In case a student fails to secure 60% marks in the aggregate.6 Passing percentage for 100 hours ITT : 60% in aggregate taking into account module tests. he is expected to complete the paper without any break. The answer sheets of these test papers are to be submitted at the appropriate decentralized Office. alongwith the necessary documents. The evaluation is also done on-line. 7. Students’ Information Technology Training Course”.4. if a student fails to secure 60% marks even after three attempts. A student would not be allowed to exceed the allotted time. he may be allowed to reappear for on-line examination for two more attempts. project and final examination. However. The student shall be issued certificate for ‘CA students’ Information Technology Training Course’ on qualifying such test papers. No fee is charged by the accredited regional office/branch of ICAI for such reappearance.On the day of the examination.A. 7. Thereafter.6 100 hours ITT for differently abled students The Institute has exempted differently abled students from undergoing 100 hours ITT with the accredited regional offices/branches of the ICAI. Such students are not required to pay any registration fee for the purpose of 100 hours ITT. The total number of questions generated for each topic must be in accordance to the total number of hours of training allocated to that topic. a differently abled student is required to self-study such course material for a minimum period of 20 days. Once the student commences the examination.5 Certification Training completion certificate as well as passing certificate is issued by the concerned regional council of the ICAI. he can send a request to the decentralised office for specially designed two test papers and also inform about his schedule for submission of these test papers.
e. 3 years (including excess leave. a student should register with the Board of Studies in the prescribed form and collect study material of the Final course. Or Serving last 12 months (including excess leave. 2006 and complete articled training of 3 or 3 1 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. if any) of articled training as on the first day of the month in which examination is held. (prescribed Articled training period 3 years)
Eligibility Criteria to appear in the Final Examination Completed or completing prescribed period of articled training i.No.8. Completed or completing prescribed period of articled training i. and prepare for the final examination. Completed or completing prescribed period of articled training i.
Students who have registered and passed Professional Education (Examination – II) and registered for Final Course. if any) on or before the last day of the month preceding the month in which the examination is held. Category of Students 1 Students who have registered and passed Intermediate examination and registered for Final Course. or equivalent audit training. 2 Detailed eligibility criteria for different streams to appear in Final examination are as follows :
Sl. if any) on or before the last day of the month preceding the month in which the examination is held. He may undergo General Management and Communication Skills Course as per Regulations 51A / 72A of the Chartered Accountants (Amendment) Regulations.e. 3 years (including excess leave.
Final Course and admission to Final Examination
After passing Intermediate/Professional Education (Examination-II)/Professional Competence Examination/Integrated Professional Competence Examination. (prescribed Articled training period 3 years)
Students who have initially registered in Professional Education (Course – II) and then switched over to Professional Competence Course (PCC) and registered for Final Course. (prescribed Articled training period 3½ years)
. if any) of articled training as on the first day of the month in which examination is held. Or Serving last 12 months (including excess leave. if any) on or before the last day of the month preceding the month in which the examination is held.e. 3½ years (including excess leave.
Or Serving last 6 months (including excess leave. Completed or completing prescribed period of articled training i. if any) of articled training as on the first day of the month in which examination is held. 3 years (including excess leave. (prescribed Articled training period 3½ years)
. 3½ years (including excess leave.C Students who have initially registered in Professional Education (Course – II) and then switched over to Professional Competence Course (PCC) and then to Integrated Professional Competence Course (IPCC) and registered for Final Course. if any) on or before the last day of the month preceding the month in which the examination is held. Completed or completing prescribed period of articled training i. (prescribed Articled training period 3 years) 3 A Students who have registered and passed Professional Competence Course and registered for Final Course. Or Serving last 6 months (including excess leave.e. if any) on or before the last day of the month preceding the month in which the examination is held. Or Serving last 12 months (including excess leave. if any) of articled training as on the first day of the month in which examination is held. Or Serving last 12 months (including excess leave. (prescribed Articled training period 3½ years)
Completed or completing prescribed period of articled training i. 3½ years (including excess leave.e. if any) of articled training as on the first day of the month in which examination is held. 3½ years (including excess leave. if any) on or before the last day of the month preceding the month in which the examination is held.
B Students who have registered initially in Professional Competence Course and then switched over to Integrated Professional Competence Course and registered for Final Course.e.e. (prescribed Articled training period 3½ years) D Students who have initially registered in Professional Education (Course – II) and then switched over to Integrated Professional Competence Course (IPCC) and registered for Final Course. Completed or completing prescribed period of articled training i. if any) on or before the last day of the month preceding the month in which the examination is held. if any) of articled training as on the first day of the month in which examination is held.
. Or Serving last 6 months (including excess leave.1
Final Course Subjects to be studied in CA Final Course are as follows: 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 Allied Laws (100 Marks) Section A : Company Law (70 marks) Section B : Allied Laws (30 marks) Group – II Paper 5 : Advanced Management Accounting (100 Marks) Paper 6 : Information Systems Control and Audit (100 Marks) Paper 7 : Direct Tax Laws (100 Marks) Paper 8 : Indirect Tax Laws (100 Marks) Section A : Central Excise (40 marks) Section B : Service Tax & VAT (40 marks) Section C : Customs (20 marks)
8. (prescribed Articled training period 3 years)
Completed or completing prescribed period of articled training i. 3 years (including excess leave.2
Requirements for passing the Final Examination A candidate may appear in both the groups simultaneously or in one group in one examination and in the remaining group at any subsequent examination and shall ordinarily be declared to have passed the Final Examination if he passes in both the groups.e. A candidate shall ordinarily be declared to have passed in both the groups simultaneously. if any) on or before the last day of the month preceding the month in which the examination is held. if any) of articled training as on the first day of the month in which examination is held. if he – (i) secures at one sitting a minimum of 40 per cent marks in each paper of each of the groups and minimum of 50 per cent marks in the aggregate of all the papers of each of the groups.
Students who have registered and passed Integrated Professional Competence Course and registered for Final Course.
Scholarships and Fee Concessions
Scholarships for meritorious students The Board of Studies grants various Scholarships to students. 12 or so on. he is granted exemption from appearing in Group II of Final Examination (under the new course).e.(ii)
secures at one sitting a minimum of 40 per cent marks in each paper of both the groups and a minimum of 50 per cent marks in the aggregate of all the papers of both the groups taken together.per month respectively.
A candidate shall be declared to have passed in a group if he secures at one sitting a minimum of 40 per cent marks in each paper of the group and a minimum of 50 per cent marks in the aggregate of all the papers of that group.
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 Examination/PCC/IPCC and their parents total income should not be more than Rs.1 to 10 (in case the rank at Sl. Need-based and Weaker Sections Scholarships out of the funds of the Institute and Endowment Schemes created by individual donors/Trusts/Societies. 1. The students are required to apply in prescribed Scholarship Application Form. held in June/December. 1500 p. namely. 11 or to Sl. a student who has been granted exemption in a paper or more than one paper of Final Examination (Old) under Regulation 37A (7) of the Chartered Accountants Regulation 1988. he is granted exemption from appearing in Group I of Final Examination (under the new course). No. No. Merit Scholarships are granted automatically on the basis of Merit List released by the Examination Section. Total 60 scholarships are awarded every year under this category.50.1. No.
9. is granted exemption in the corresponding paper in the Final Examination (New). if a student has passed Group I of the Final Examination (under the old course).e. Merit.
. all such rank holders) of the respective Merit lists of Common Proficiency Examinations.and Rs. or if a student has passed Group II of Final Examination (under the old course).No. A candidate who has passed in any one but not in both the groups of the Final Examination (under the old course) is granted exemption from passing the same group in the Final Examination (under the new course). In addition. Merit Scholarship: The students whose names appear at Sl. PCC/IPCC Examination held in May/November every year are selected for award of Merit Scholarship @ Rs.000/. Merit-cum-Need based. 2000/.per annum are eligible to apply for award of Merit-cumNeed scholarship. 10 continues to Sl. commencing from April and October every year and generally the announcements for scholarships are released in the Students’ Journal – ‘The Chartered Accountant Student’. Rank holders of Common Proficiency Examination (CPE) who have registered for PCC /IPCC (PCC/IPCC Students) will get Scholarship for a period of 18 months while the Rank holders of PCC/IPCC (Final Students) will get for a maximum period of 30 months/remaining period of their articleship.m for 18 months to rank holders of CPT who have registered for IPCC and for a maximum period of 30 months/remaining period of articleship to rank holders of PCC/IPCC who have registered for articleships. The students who would be selected for award of scholarship will be granted @ Rs.1500/. Various scholarships are awarded twice in a year i.
an additional amount of Rs. namely: • • • (ii) total absence of sight. 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 PE-II/PCC/ IPCC/Final Examination in the first two eligible chances.
Apart from the above.000/. In other words. 2010 examination onwards top 10 rank holders of the Integrated Professional Competence Examination (IPCE) and Final Examination are exempted from payment of fee for attending residential programme on Professional Skills Development Programme. scholarships are also awarded under different Endowment Schemes created by individual donors/ Joint Corpus formed by donors.
Need-based and weaker sections Scholarship: Students of PCC/IPCC and Final Course are eligible to apply for award of Need. Total 200 scholarships are awarded every year under this category. For SC/ST/OBC category students.100/. The students who would be selected for award of scholarship will be granted @ Rs.1. Effective from November. 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. 1250 p. The criteria applied are the same as in case of Need -based scholarship. the first three rank holders of CPT need not pay the Final fee if they pass the IPCE in the first attempt. or limitation of the field of vision subtending an angle of 20 degrees or worse. 9.2 Fee concessions to differently abled students Differently abled students are defined as follows: (i) Blindness – “Blindness” refers to a condition where a person suffers from any of the following conditions.p.m.m for 18 months to PCC/IPCC students and for a maximum period of 30 months/remaining period of articleship to Final students.based Scholarships provided their parents’ annual income is not more than Rs. visual acuity not exceeding 6/60 or 20/200 (snellen) in the better eye with correcting lenses. Such fee exemption will be continued at the time of registration for Final Course provided the student passes both groups of IPCE in the first attempt. first three rank holders of CPT will be granted full exemption from the payment of registration and tuition fees at the time of registration for IPCC including registration fee for 100 Hours Information Technology Training.
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.per annum.00.3.
Scholarships under Endowment Schemes: In addition to the above.
4. will be paid on submission of a certificate/ documentary proof duly attested by a gazetted officer or a member of the Institute.
are eligible for full exemption from payment of registration fees at IPCC/ATC and Final levels. The objective is to equip the entrants to the profession with some essential skills. but they are required to self-study and pass two test papers specially designed for the purpose.
Hearing impairment – “Hearing impairment” means loss of sixty decibels or more in the better ear in the conversational range of frequencies.4
Differently abled students are exempted from Orientation Programme Differently abled students.
9. such as – • General management and business communication skills. • Presentation skills. submit an application for consideration on case to case basis. and the expression “leprosy cured” shall be constructed accordingly. Orientation Programme registration fee of ` 1.
manifest deformity and paresis but having sufficient mobility in his hands and feet to enables him to engage in normal economic activity.and course fee of ` 3. Locomotors disability – “Locomotors disability” means disability of the bones.
9.and course fee of ` 4. suffering from permanent disability of 50% or above are exempted from attending Orientation Programme.e. A differently abled student has to submit a certificate of suffering from disability.
Course on General Management and Communication Skills
The course can be taken by a student during the last 12 months of articled/audit training while undergoing Final Course but before applying for the membership of the Institute.for undergoing course.e. Permanent and total loss of voice Any other physical disability which is not covered above.
9. • Inter-personal skills.
10.000/. joints or muscles leading to substantial restriction of the movement of the limbs or any form of cerebral palsy. as the case may be.5
Differently abled students are exempted from payment of ITT fee Differently abled students.for undergoing course. These students are also exempted from payment of fee related to ITT i. Students who are suffering from more than 50% disability. registration fee of ` 2.000/. suffering from permanent disability of 50% or above are exempted from attending ITT classes. certified by a physician/surgeon/oculist working in a Government hospital.000/. but permanently suffering from 50% or above. • Group discussion skills. This fee concession will be made available on production of necessary documents.000/. as stated above. extreme physical deformity as well as advanced age which prevents him from undertaking any gainful occupation. as the case may be.3
Other fee concessions and scholarships The children of military and para-military forces who are studying chartered accountancy course and have lost either of their parents in action are exempted from payment of registration fees. These students are also exempted from payment of fee related to Orientation Programme i.
The requirement of compulsory attendance in this course will apply to articled/audit assistant: • who has passed the Final Examination. and who has passed IPCE under the new scheme of education and training. The Board of Studies issues a background material for the course which a student should thoroughly study before undergoing the course. • • who has passed Intermediate/Professional Education (Examination-II)/Professional Competence Examination. aim at developing the habit of reading with the enhanced capacity of comprehension. Such students can either opt to (i) attend all the classes or (ii) appear in two test papers of 3 hours each after a study period of 15 days from the date of registration and after thoroughly studying the Background Material. Increase in the level of awareness of management theory and practice with the ultimate aim of self-development. technical skills. he is compulsorily required to undergo and complete the course.2 Four Weeks Residential Programme On Professional Skills Development Objective of the Course The programme aims to help the Chartered Accountancy students and newly qualified Chartered Accountants in imbibing the professional skills required for effective functioning in business organisations and the profession. and Providing opportunities for personal interaction with fellow students by sharing experiences and for interaction with senior members of the profession and management. in its entirety under the new syllabus specified by the Council under Regulation 31 of the CA Regulations. personal qualities.10 are exempted from payment of fees for undergoing the Course on General Management and Communication Skills.• • • •
Legal document preparation skills. The Programme environment focuses on development of communication skills. Become more confident and capable of using the knowledge gained while doing the chartered accountancy course.
Details of this programme are available in the prospectus of the Final Course. 10.1 Exemption from payment of fees to differently abled students for undergoing General Management and Communication Skills Course
Differently abled students as defined in Para 6. Eligibility All the students who have passed Chartered Accountancy Final/ IPCC/ PCC/ PE – II Examination and pursuing last year of articled training or completed Articleship training are invited to join the course. interpersonal and teamwork skills.
. inter alia.
Even if a candidate passes one of the groups of the Final Examination held in November 2002 and thereafter (other group having been passed earlier).
10. The students are required to pay the prescribed fees for undergoing the course.
The course would. problem solving skills and leadership skills. 1988.
Part of Practical Training Under Explanation (2) to Regulation 59 (7) of the Chartered Accountants Regulations. 1988 participation in the Residential Programme on Professional Skills Development will be considered equivalent to undergoing articled training. The methodology will involve: • • • • • • Class/Group Discussion Management Games Role Plays Simulation Exercises Case Studies Project preparation
. yoga. Exemption from 15 days General Management and Communication Skills Course Students of this programme would not be required to undergo GMCS course separately. Course Content The programme would be divided in various modules covering: • • • • • • • • • Developing personal traits Business communication & Presentation Interpersonal & Negotiation Skills Business – Social Etiquettes Practice development and management General Management Arbitration and Allied laws Current Affairs/Sessions with Subject experts/Government officials. Thus the period during which the training is undergone will be considered as an integral part of practical training. Case study
The programme would also include extra-curricular activities (study tour/industrial visits. A student who has already paid fees for the GMCS course and has not undergone the actual course may claim the refund of fees on account of GMCS course directly from the region/ branch where such fees had been paid subsequent to the selection in a batch of Professional Skills Development Programme. Course methodology Modern education techniques would be used to make learning wholesome and interesting. meditation and cultural activities).
Course Fee Rs.500 019. All decisions on selection would be final and binding.
. 40. Applicants may register by paying 20% of the fees and the balance is to be paid before starting of the course. boarding. as per the guidelines of the Council and on production of a certificate to this effect. Duration Duration of the programme is 4 weeks. 40. of upscale exclusive design in the high profile location. The course dates are announced well in advance and put on the Institute’s website. The centre has ultra-model conference halls and residential facilities. wi-fi facility. The course fee includes tuition fee. “ICAI Bhawan” Plot No 10 & 11. In any circumstances post dated payments will not be accepted. Efforts would be made to make the group heterogeneous in terms of sex and geographical locations. Gachibowli.per participant for Four Weeks Residential Programme.in favour of The Secretary.ft. Venue Four Weeks Residential Programme is organized at Centre of Excellence. Cancellation of registration is not allowed after two (2) weeks before the scheduled commencement of the programme. etc. Email:. Selection of the candidates who would be allowed to undergo the programme would be made by Board of Studies or by a person/group of Board of Studies.coehyd@icai. After passing Accounting Technician Examination (ATE). he will also be required to complete 12 months of work experience. he will be issued Accounting Technician Certificate. A candidate who does not wish to complete erstwhile Intermediate/PE-II/PCC/IPCC can also opt for the Accounting Technician Course. The Institute of Chartered Accountants of India payable at New Delhi. students will be selected on the basis of logical criteria.000/. Phone: . The payment may be made through an account payee demand draft for a sum of Rs. The Institute of Chartered Accountants of India. First preference would be given to the qualified Chartered Accountant candidates who had applied but were refused admission in the earlier batches. Nanakramguda. Financial District.The programme is residential. course material.org The State-of-the-Art of Excellence – a Global Training and Knowledge Centre has been set-up with a built-up area measuring 70000 sq. 35 hours Orientation Programme and 100 hours ITT before appearing in Accounting Technician Examination (ATE). Andhra Pradesh.
Accounting Technician Course (ATC)
A candidate may opt exclusively for Accounting Technician Course. Such a candidate has to undergo a study course of nine months. Selection Criteria In case of over-response. Intimation would be sent on selection/non-selection.040-65356676. Hyderabad. local field visits. It is to be noted that Group I of IPCC is equivalent to ATC. No other correspondence on selection or non-selection shall be made.000/. lodging.
The working hours for the Accounting Technician Trainee shall be in accordance with the working hours of the organization in which he undergoes training. Case of a member employed in an industrial / commercial / financial / service / not-forprofit organization or company (a) A member who is employed in an industrial / commercial / financial / service / notfor-profit organization or company duly approved by the Institute would be eligible to impart Accounting Technician Training to the eligible candidates. The working hours for the Accounting Technician Trainee shall be 35 hours per week to be regulated by the Principal in accordance with the guidelines to be issued by the Council from time to time.
.11. or Minimum fixed assets ` 1 crore. or Turnover ` 10 crores.
Eligibility for members of the ICAI: Experience of the members in years ACA with less than three years ACA with three years and above FCA with less than five years FCA with five years and above Number of vacancies 1 2 5 10
The period of the Accounting Technician work experience shall be one year. The Accounting Technician Trainee will be eligible for such stipend as fixed by the member.
Guidelines for imparting Accounting Technician Training – work experience A candidate who has passed Group I of the Integrated Professional Competence Examination/Accounting Technician Examination is eligible for registration to Accounting Technician work experience. or Gross receipts (in the case of not-for-profit organization . The period of training shall be one year.
Case of a member in practice (a) (b) (c) (d) A member in practice would also be eligible to impart Accounting Technician Training to the eligible candidates.they should be registered under a Statute) – ` 2 crores. Criteria for the selection of industrial / commercial / financial / service / not-forprofit organization or company: (i) (ii) (iii) (iv) (c) Minimum paid-up capital ` 50 lakhs.
Financial Management • • • • Preparation of projected financial statements Processing of loan applications with banks. Maintenance of primary books of accounts Preparation of reconciliation Preparation of accounts from incomplete records Finalization of accounts and notes to financial accounts Preparation of financial statements. rebates. corporate affairs and information technology as given hereunder :
11.iv. Preparation of system flow chart Knowledge of Internet and computer fraud detection techniques. sales accounting. reliefs and tax payable by the assessees Preparation and filing of return of income. Areas of training The principal shall impart training to the Accounting Technician Trainee in the areas of accounting.
Taxation • • • Computing of total income.
Information Technology • • • • Data creation and analysis using databases . invoicing etc. bank accounts. financial institutions etc. journals. financial accounting.
i. TDS returns and other documents Preparation and filing of various returns under VAT. payrolls. the principal / organization is required to issue a certificate in respect of the training.
iii.and spreadsheet program Computer applications in areas like inventory control. sales accounting. etc. share accounting.
Accounting • • • • • • Undertaking specific work relating to cash accounting. purchase accounts.
. taxation. service tax etc. Projection of working capital and computation of working capital requirements Preparation of budget.
On completion of the training period. financial management.
including compliance of SEBI guidelines
Note: The areas indicated above for training are only illustrative and not exhaustive. Register as an Articled Assistant for a period of 3 years. Designate as “Accounting Technician”
• • • • •
How to become a CA. Pass Group II of IPCE. debentures etc. The exact scope of Training Programme will be at the discretion of the Member in Charge of Training. Get Accounting Technician Certificate. Appear and pass in CPT after appearing in (10+2).
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. General Commercial Knowledge etc. How to become an Accounting Technician (Accounting Technician Course) • • • • • Enrol for Common Proficiency Test (CPT). Business Environment.
. However one should pass both CPT and 10+2 before registering for ATC. Communication Skills.v. Office Procedures. Successfully complete one year work experience under a chartered accountant in practice or in industry. Enrol for Accounting Technician Course (ATC) Successfully complete 9 months of study course from the date of registration for the ATC. after passing Class 10 examination. even after becoming Accounting Technician • • • Enrol for Group II of Integrated Professional Competence Course (IPCC). Successfully complete Orientation Course of one week spanning 35 hours and covering topics. Successfully complete 100 hours Information Technology Training (ITT) Pass ATE (Group I of Integrated Professional Competence Examination (IPCE)) comprising of four papers. based on the nature of the Organization. such as Personality Development.
you have many options for pursuing challenging and rewarding career.
13. Even in the government. Rapid changes taking place in the economy have further opened up new vistas of opportunities for the Chartered Accountants. Chartered Accountants today have occupied top management positions in public as well as private sectors.
Opportunities for Chartered Accountants
Chartered Accountancy is a challenging career at the cutting edge of trade. Pass both the Groups of CA Final examination. The society has increasingly recognized the services of CAs in entire gamut of management consultancy including management accounting.”
12. A member who has been an Associate and who has been in continuous practice for not less than five years and possesses the experience prescribed by the Council for this purpose is eligible to apply for Fellow Membership. On becoming a Chartered Accountant. They also render professional services as accountants and management consultants. Complete 3 years period of articled training. A member has the right to use the distinctive letters ‘FCA’ or ‘ACA’ signifying that he is a Fellow or an Associate respectively. A member desirous of practising as a Chartered Accountant is required to obtain a Certificate of Practice from the Institute. CAs today are part of the top management team and hold key positions in the corporate sector. No wonder that the Chartered Accountancy is a high status profession and a passport to challenging and rewarding career in industry and commerce. stock brokers. international finance. large bank borrowers. A Chartered Accountant also provides compilation and review services as and when required by enterprises. It is 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. big income-tax assessees. A member of the Institute may either practise as a Chartered Accountant or go for employment. information technology and financial services sector. etc. management information and control systems.1
Independent Professional Practice As practitioners of public accounting. While practising as an
. cooperative societies. industry and economic growth. banks. CAs may start professional practice as a proprietor or join any existing firm as a partner or staff member.
13.• • • • •
Appear in CA Final Examination during last 6 months of 3 years of articled training. A CA has been entrusted with substantial responsibility under various legislations such as compulsory audit of the accounts of all companies. Successfully complete the Course on General Management and Communication Skills (15 days) Enrol as a member of ICAI and designate as “Chartered Accountant. they occupy prominent positions.
Membership of the Institute
Every person who has been admitted as a member and whose name is entered in the Register of Members is deemed to be an Associate Member of the Institute.
• Market research and demand studies. conduct special studies. • Business policy. The services rendered by them include • Financial management planning and financial policy determination such as capital structure and related areas.4 Global Scenario The opportunities are simply ever increasing. energy audit and environmental audit. and • Quality audit.2 Management Consultancy Services A Chartered Accountant plays a vital role in assisting businesses to improve the use of their resources. corporate planning. organisation development.3 Opt for Industry / Government Organisation A Chartered Accountant may prefer to join an industry or government organisation and hold responsible positions. Chartered Accountants by application of their technical knowledge and business experience have been able to cater to the client’s changing needs. plans and programs. They also evaluate the financial effects of management’s actions. Managing Directors. • Advisor or consultant to an issue. and provide advice and technical assistance in their implementation. and determining the viability of business. and computer related services. • Investment counselling in respect of securities. incentive plans. cost control and value analysis. • Personnel recruitment and selection. 13. • Organisation structure and behaviour. evaluate and recommend ways to increase revenue and reduce operating costs. A Chartered Accountant may also take up the job of an educator at a university/college level. helping the business to secure loans. • Budgeting. • Systems analysis and design. As a management consultant CA can also identify. • Preparation of project reports and feasibility studies. • Registrar to an issue and for transfer of shares/other securities. • Management accounting systems. finance and corporate law.independent professional. Chartered Accountants are responsible for developing. development of human resources. Director (Finance) and Chief Accountants. Many Chartered Accountants hold responsible positions in business or industrial firms as CEOs. 13. These include areas of national and international taxation. The knowledge of local laws and regulations. inventory management. a CA also acts as a business advisor by providing all kinds of services including the preparation of financial reports. Today huge opportunities are available for professionals with specialised knowledge and skills sought by global organizations. analyze operations and suggest changes in structure and individual responsibilities. analyzing and reporting on information needed for business decisions. 13. places Chartered Accountants in a stronger position to supply services to global organizations entering the Indian Market.
. growth and diversification. of course. working capital management. increase their efficiency and achieve their objectives. CA helps business and individuals to comply with tax laws and represent his clients before government agencies. preparing financial projections showing how the loans will be repaid. As a tax advisor. prepare recommendations.
MEMORANDUM OF UNDERSTANDINGS (MOUs) WITH INDIAN UNIVERSITIES:
The Institute of Chartered Accountants of India (ICAI) has entered into Memorandum of Understandings (MOUs) with the following Universities for pursuing Graduate/ Post Graduate Courses with appropriate exemptions from appearing in the paper/s: (i) (ii) (iii) (iv) Indira Gandhi National Open University (IGNOU).
MEMORANDUM OF UNDERSTANDINGS (MOUs) WITH OVERSEAS ACCOUNTANCY BODIES:
The Institute has also entered into Memorandum of Understandings (MOUs) with the following foreign Accountancy Bodies.org
Details of the MOUs are available on the Institute’s website www. New Delhi Netaji Subhash Open University (NSOU). Kolkata Bharathiar University.org
15.icai. University of Madras. whereby a member of ICAI can acquire the Membership of these bodies: (i) (ii) (iii) (iv) (v) Institute of Chartered Accountants of England and Wales (ICAEW) Institute of Chartered Accountants in Australia (ICAA) Canadian Institute of Chartered Accountants (CICA) Institute of Certified Public Accountants in Ireland (CPA IRELAND) Certified Public Accountants in Australia (CPA AUSTRALIA)
Details of the MOUs are available on the Institute’s website www. Chennai.
Accounting Accounting Technician Technician Course Course
Registration Options/ Various charges
` 4.towards Board of Studies) and charge for providing reading materials.000/.towards Registration fee for 100 hours IT Training) and need not pay ` 3.000/.000 7.000 1.000 2.000 1.000 500 ** ** ** 1.000 2.000 1.000 1. Foreign students have to pay US$ 60 in addition to the prescribed fee given above.000* 1.44
Fees to be charged from the students registering for Integrated Professional Competence Course (IPCC)/ Accounting Technician Course (ATC) – students who have passed CPT and passed 10+2 examination or passed Entrance Examination or Foundation Examination or Professional Education (Examination – I):
Both Both Both Groups Groups Groups IPCC IPCC IPCC & (Without (Without ATC articles) articles) (Without articles) Both Groups IPCC & ATC (Without articles) Group I of IPCC Group II of IPCC (With articles) Group I of IPCC Group II of IPCC (With articles) Group II Group II of IPCC of IPCC (Without (Without articles) articles) US$ % 4.towards Registration fee for Orientation Programme and ` 2.towards ATC registration fee and ` 1. Students who wish to register ONLY for Group II of IPCC has to pay ` 3.000 1.(` 1.000 @@ 1.000 1.000/ . Students who opt for ATC along with both groups of IPCC/ Group I of IPCC/ Group II of IPCC have to pay ` 2. Students who wish to register for ATC along with Group I of IPCC has to pay ` 1.
Registration fee includes registration charge (` 1.000 5.000/. Students who wish to register for ATC along with Group II of IPCC has to pay ` 2.000 % %% %% 4. Separate reading material will be issued for ATC.000* 9.000 400 ` US$ US$ ` ` US$ ` US$ 1.towards ATC registration.000 5.000@ ** 1.000* 8.000 2.000* 550 10. No separate reading materials will be issued for ATC.000 2.000/.000/.000/.000* 10.000 2.towards supply of reading material).000/.000 500 2.000@ 4.000 ** 1.000/.000
Registration fee for ATC
Registration fee @@
Registration fee for
Registration fee for
100 hours ITT
Registration fee for one
year work experience
Students’ Activities Fee
Students’ Association Fee
Registration fee as 600
* ** %
To be charged only once at the time of initial registration.or US$60 towards Registration fee for one year work experience.000/.000 1.while registering for the other group subsequently.000 ** 1. Foreign students have to pay US$ 60 in addition to the prescribed fee given above.(`1.000* 600 8.
2 ) Registration fee for Information Technology Training (ITT) is ` 2. Chennai. Kanpur or Delhi”. payable at Mumbai. Students not completed prescribed period of articleship will be required to pay ` 2000/. No separate study material will be issued to ATC opted students.towards ATC registration.as registration fee for one year work experience.000/-. A separate fee of ` 4.000/.towards cost of study material for Integrated Professional Competence Course (IPCC). Students who wish to join for Accounting Technician Course (ATC) have to add US$ 60 towards ATC registration. by way of Demand Draft drawn in favour of “The Secretary. 2010. Kolkata. Students who are residing abroad and converting from Intermediate/ PE-II to IPCC have to pay US$ 150 as conversion fee. Since Group I of IPCC and ATC course study materials are same. as the case may be. Students who are converting from PCC to IPCC are exempted from undergoing Orientation Programme as per announcement dated 6 th August.
.has to be paid for undergoing ITT classes.500/.Annexure II Fees to be charged from the students registering for Integrated Professional Competence Course (IPCC)/ Accounting Technician Course (ATC) but who are already registered for erstwhile Intermediate Examination or Professional Education (Course-II) or Professional Competence Examination:
Registration fee for ATC Registration fee with BOS Registration Registration fee for fee for Orientation 100 hours Programme** ITT Registration fee for one year work experience Tuition fee for ATC Tuition fee for IPCC Students’ Activities Fee Students’ Association Fee Registration fee as articled assistant TOTAL FEES
Intermediate (Articles completed/ partially completed)* *As per announcement of switchover from CA Intermediate/ PE-II to IPCC
Professional Education (Course – II) (Without articles)* *As per announcement of switchover from CA Intermediate/ PE-II to IPCC
Erstwhile Intermediate/ PE-II Students shall have to pay ` 1. Note: 1 ) Students who wish to join for Accounting Technician Course (ATC) have to add ` 1. The Institute of Chartered Accountants of India.000/.
Professional Education (Course – II) (With articles)* *As per announcement of switchover from CA Intermediate/ PE-II to IPCC
Registration Registration fee for ATC fee with BOS
Registration Registration Registration fee for fee for fee for one Orientation 100 hours year work Programme** ITT experience Exempted Exempted Exempted Exempted Exempted Exempted Exempted ^^ ^^ ^^ ^^ ^^ ^^ ^^
Tuition fee for ATC 3000 -
Tuition fee for IPCC
Students’ Activities Fee
Students’ Registration Association fee as Fee articled assistant 4000 4000# 3000 3000# 3000 4000 1000* 1000* 1000* 1000* 1000* 1000* 1000* -
D 1 2 3 4 5 6 7 1000 1000 1000 1000 -
Professional Competence Course Both Groups of IPCC Both Groups of IPCC + ATC Group I of IPCC Group I of IPCC + ATC ATC Group II of IPCC Group II of IPCC + ATC
Rs. 5000 6000 4000 5000 5000 4000 6000
US$ 290 350 230 290 290 230 350
* ** # ^^
To be charged only once at the time of initial registration.
9. No. if not paid earlier.000
For foreign Students USD
* For those who have completed articleship or undergoing articleship.000 500 500 10.
. if not paid earlier Without Articles 8. if not paid earlier 10. 2 Admission to Final (New) Course IPCC route ** + 2.000 towards article registration fee.000** 750** ** + 50 towards article registration fee. Details of Fee With Articles Registration Fee with Board of Studies Students’ Association Fee Admission to Final (New) Course 1 Registration Fee with Board of Studies and Students’ Association Fee are payable.Final Course Registration Fee:
Sl.500* TOTAL Rs.
partnership and companies. Company Accounts (a) (b) Preparation of financial statements – Profit and Loss Account. To gain working knowledge of the principles and procedures of accounting and their application to different practical situations. Balance Sheet and Cash Flow Statement Profit (Loss) prior to incorporation
Contents 1.Annexure IV INTEGRATED PROFESSIONAL COMPETENCE COURSE (IPCC) Syllabus GROUP I OF IPCC/ ACCOUNTING TECHNICIAN COURSE (ATC) Paper 1: Accounting
(One paper – three hours – 100 marks) Level of Knowledge: Working Knowledge Objectives: (a) (b) (c) (d) To lay a foundation for the preparation and presentation of financial statements. and To familiarize students with the fundamentals of computerized system of accounting. national and international accounting authorities. 2. adoption of international financial reporting standards Accounting Standards Working knowledge of: AS 1 : Disclosure of Accounting Policies AS 2: AS 3: AS 6: AS 7: AS 9: Valuation of Inventories Cash Flow Statements Depreciation Accounting Construction Contracts (Revised 2002) Revenue Recognition
AS 10: Accounting for Fixed Assets AS 13: Accounting for Investments AS 14: Accounting for Amalgamations 3. A General Knowledge of the framing of the accounting standards. To gain the ability to solve simple problems and cases relating to sole proprietorship.
(c) (d) 4. Accounting for bonus issue Simple problems on Accounting for business acquisition.
Alteration of share capital. retirement and death of a partner including treatment of goodwill. Self-Balancing Ledgers Financial Statements of Not-for-Profit Organisations Accounts from Incomplete Records Accounting for Special Transactions (a) (b) (c) Hire purchase and instalment sale transactions Investment accounts Insurance claims for loss of stock and loss of profit.
. Amalgamation and reconstruction (excluding problems of amalgamation on inter-company holding)
Average Due Date. Note : If either old Accounting Standards (ASs). 5. 7.
Paper 2: Business Laws.
9. Concept of grouping of accounts. the syllabus will accordingly include/exclude such new developments in place of the existing ones with effect from the date to be notified by the Institute. Announcements and Limited Revisions to ASs are withdrawn or new ASs. Generating Accounting Reports. Announcements and Limited Revisions to ASs are issued by the Institute of Chartered Accountants of India in place of existing ASs.
Issues in Partnership Accounts Final accounts of partnership firms – Admission. Account Current. Announcements and Limited Revisions to ASs. Ethics and Communication
(One paper – three hours .100 marks) Level of Knowledge: Working knowledge Part I: Business Laws (60 marks) Objective: To test working knowledge of business laws and company law and their practical application in commercial situations.
Accounting in Computerized Environment An overview of computerized accounting system – Salient features and significance. Conversion of fully paid shares into stock and stock into shares. Codification of accounts. Accounting packages and consideration for their selection. 6. Maintaining the hierarchy of ledger.
3. 1952 The Payment of Gratuity Act.Contents: Business Laws (30 marks) 1. annual returns. ethical issues in corporate governance. registers of members and debentures holders. Appellate Tribunal Incorporation of company and matters incidental thereto Prospectus and allotment. 4. corporate social responsibility. 5. restrictions on commencement of business. 1965 The Employees’ Provident Fund and Miscellaneous Provisions Act. general provisions regarding registers and returns.
Company Law (30 marks) The Companies Act. meetings and proceedings.
. ethics and conflicts of interests. Company Law in a computerized environment – e-filing. ethical and social implications of business policies and decisions. 1872 The Negotiable Instruments Act. 2.National Company Law Tribunal.
Note: If new legislations are enacted in place of the existing legislations. The Indian Contract Act. and other matters relating to use of shares or debentures Share capital and debentures Registration of charges Management and administration – general provisions – registered office and name. 1881 The Payment of Bonus Act. purpose of ethics and morals for organizational interests. Part II: Ethics (20 marks) Objective: To have an understanding of ethical issues in business. 1972. foreign registers of members or debenture holders. 1956 – Sections 1 to 197 (a) (b) (c) (d) (e) (f) (g) Preliminary Board of Company Law Administration . Contents: 1. Introduction to Business Ethics The nature. the syllabus would include the corresponding provisions of such new legislations with effect from a date notified by the Institute.
influencing and persuasion skills.
Environment Issues Protecting the Natural Environment – prevention of pollution and depletion of natural resources. Contents: 1.2. Elements of Communication (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) 2. leadership.
3. Agenda. Part III: Communication (20 marks)
Objective: To nurture and develop the communication and behavioural skills relating to business.
3. issues and common problems. Minutes. press conference Planning and composing business messages Communication channels Communicating corporate culture. verbal and nonverbal.
Ethics in Accounting and Finance Importance.
5. change. innovative spirits Communication breakdowns Communication ethics Groups dynamics.
Communication in Business Environment (a) (b) (c) (d) Business Meetings – Notice. discrimination. interpersonal skills. handling group conflicts. conservation of natural resources. active listening and critical thinking Presentation skills including conducting meeting. consensus building. inter-departmental. negotiating and bargaining Emotional intelligence – emotional quotient Soft skills – personality traits.
4. gender equality. Chairperson’s speech Press releases Corporate announcements by stock exchanges Reporting of proceedings of a meeting.
Ethics in Workplace Individual in the organisation.
Ethics in Marketing and Consumer Protection Healthy competition and protecting consumer’s interest.
Basic Understanding of Legal Deeds and Documents (a) Partnership deed
. harassment. Forms of communication: formal and informal.
100 marks) Level of Knowledge: Working knowledge Part I: Cost Accounting (50 marks) Objectives: (a) (b) (c) (d) To understand the basic concepts and processes used to determine product costs. To be able to interpret cost accounting statements. financial accounting. and To be able to solve simple cases. planning.(b) (c) (d) (e) (f) (g) (h)
Power of Attorney Lease deed Affidavit Indemnity bond Gift deed Memorandum and articles of association of a company Annual Report of a company.
Paper 3: Cost Accounting and Financial Management
(One paper – three hours . Introduction to Cost Accounting (a) (b) (c) (d) (e) (f) (g) (h) Objectives and scope of cost accounting Cost centres and cost units Cost classification for stock valuation.
Contents: 1. separating the components of semi-variable costs Installation of a costing system Relationship of cost accounting. management accounting and financial management. To be able to analyse and evaluate information for cost ascertainment. decision making and control Coding systems Elements of cost Cost behaviour pattern. control and decision making. profit measurement.
integrated accounts.2. semi-variable and step cost (ii) Factory overheads – primary distribution and secondary distribution. charging of labour cost. identification with the main product or service.
(iii) (iv) (b)
Employee Cost (i) (ii) (iii) (iv) (v) Attendance and payroll procedures. stocktaking and perpetual inventory Inventory accounting Consumption . reconciliation of cost and financial accounts. economic order quantity. maximum and reorder levels.
Overheads (i) Functional analysis – factory. idle time and incentives Labour turnover Utilisation of labour. capacity cost adjustments. overtime.techniques of fixing of minimum. monitoring consumption. identifying labour hours with work orders or batches or capital jobs Efficiency rating procedures Remuneration systems and incentive schemes. direct and indirect labour.store procedures and documentation in respect of receipts and issue of stock. research and development Behavioural analysis – fixed. fixed absorption rates for absorbing overheads to products or services Administration overheads – method of allocation to cost centres or products Selling and distribution overheads – analysis and absorption of the expenses in products/customers. stock verification Inventory control . overview of statutory requirements. variable.identification with products of cost centres.
. selling. impact of marketing strategies. basis for consumption entries in financial accounts.
Direct Expenses Sub-contracting – control on material movements. criteria for choosing suitable basis for allotment.
3. ABC classification. distribution. administration.
Cost Ascertainment (a) Material Cost (i) (ii) Procurement procedures . cost effectiveness of various methods of sales promotion.
Cost Book-keeping Cost ledgers – non-integrated accounts.
accounting for material. joint products and by-products. master budget. preparation and monitoring procedures.
Budgets and Budgetary Control The budget manual. applications of job costing. importance and objectives Conflicts in profit versus value maximisation principle Role of Chief Financial Officer.
Contents: 1. Scope and Objectives of Financial Management (a) (b) (c) Meaning. contract accounts. inter-process profit. escalation clause.
6. equivalent units.
Introduction to Standard Costing Various types of standards.
Introduction to Marginal Costing Marginal costing compared with absorption costing. retention money. principal budget factors. cash budget.
7. breakeven analysis and profit volume graph. To understand concepts relating to financing and investment decisions. contribution. process loss. attributing overhead costs to jobs.
Costing Systems (a) Job Costing Job cost cards and databases. preparation of functional budget for operating and non-operating functions. Part II: Financial Management (50 marks)
Objectives: (a) (b) (c) (d) To develop ability to analyse and interpret various tools of financial analysis and planning. budget variances.
. basic concepts of material and labour standards and variance analysis. flexible budget. accounting for plant used in a contract.4. (e) Operating Costing System
5. abnormal gains and losses. and To be able to solve simple cases. To gain knowledge of management and financing of working capital. setting of standards. (b) (c) Batch Costing Contract Costing Progress payments. (d) Process Costing Double entry book-keeping. contract profit and balance sheet entries. collecting direct costs of each job.
(d) 7. Ranking of competing projects.2. designing optimum capital structure. process Understanding different types of projects Techniques of decision making: non-discounted and discounted cash flow approaches . internal rate of return.
3. constraints. trading on equity. net present value.
. ranking of projects with unequal lives.payback period method.
6. discounted payback period and profitability index. objective.
Financial Analysis and Planning (a) (b) (c) Ratio analysis for performance evaluation and financial health Application of ratio analysis in decision making Analysis of cash flow statement.
Investment Decisions (a) (b) (c) Purpose.
Management of working capital (a) (b) (c) (d) (e) (f) (g) Working capital policies Funds flow analysis Inventory management Receivables management Payables management Management of cash and marketable securities Financing of working capital.
Financing Decisions (a) (b) (c) Cost of Capital – weighted average cost of capital and marginal cost of capital Capital Structure decisions – capital structure patterns.
5. accounting rate of return.
Types of Financing (a) (b) (c) (d) (e) Different sources of finance Project financing – intermediate and long-term financing Negotiating term loans with banks and financial institutions and appraisal thereof Introduction to lease financing Venture capital finance. modified internal rate of return. various capital structure theories Business risk and financial risk – operating and financial leverage.
Time Value of Money Compounding and discounting techniques – concepts of annuity and perpetuity.
and To gain ability to solve simple problems concerning assessees with the status of ‘Individual’. 9. set-off or carry forward and set-off of losses Deductions from gross total income Computation of total income and tax payable. Service tax (25 marks) Contents: 1. Income deemed to be received / deemed to accrue or arise in India Incomes which do not form part of total income Heads of income and the provisions governing computation of income under different heads Income of other persons included in assessee’s total income Aggregation of income. 12. 10. Important definitions in the Income-tax Act. 6.
Contents: Part I: Income-tax (50 marks) 1. 2. 11. 3. 1961 Basis of charge. Service tax – concepts and general principles Charge of service tax and taxable services Valuation of taxable services
. 5. 2. 3. rates of taxes applicable for different types of assessees Concepts of previous year and assessment year Residential status and scope of total income. and covering the areas mentioned in the contents below.Paper 4: Taxation
(One paper . 4. Part II: Service tax (25 marks) and VAT (25 marks) Objective: To gain knowledge of the provisions of service tax as mentioned below and basic concepts of Value Added Tax (VAT) in India. 8. rebates and reliefs Provisions concerning advance tax and tax deducted at source Provisions for filing of return of income. 7.three hours – 100 marks) Level of Knowledge: Working knowledge Objectives: (a) (b) To gain knowledge of the provisions of Income-tax law relating to the topics mentioned in the contents below.
Payment of service tax and filing of returns
VAT (25 marks) 5.4. Conceptual Framework for Preparation and Presentation of Financial Statements Accounting Standards Working knowledge of: AS 4 : Contingencies and Events occurring after the Balance Sheet Date AS 5 : Net Profit or Loss for the Period. Contingent Liabilities and Contingent Assets. and To gain the ability to solve advanced problems in the case of different entities.
. 8. VAT – concepts and general principles Calculation of VAT Liability including input Tax Credits Small Dealers and Composition Scheme VAT Procedures. 6.
GROUP II Paper 5: Advanced Accounting
(One paper – three hours – 100 marks) Level of Knowledge: Working Knowledge Objectives: (a) (b) (c) To have an understanding of the conceptual framework for the preparation and presentation of financial statements. Prior Period Items and Changes in Accounting Policies AS 11: The Effects of Changes in Foreign Exchange Rates (Revised 2003) AS 12: Accounting for Government Grants AS 16: Borrowing Costs AS 19: Leases AS 20: Earnings Per Share AS 26: Intangible Assets AS 29: Provisions. To gain working knowledge of the professional standards and application of accounting principles to different practical situations.
Note: If new legislations are enacted in place of the existing legislations the syllabus will accordingly include the corresponding provisions of such new legislations in the place of the existing legislations with effect from the date to be notified by the Institute. Students shall not be examined with reference to any particular State VAT Law. 7. 2.
Advanced Issues in Partnership Accounts Dissolution of partnership firms including piecemeal distribution of assets. Contents 1. Announcements and Limited Revisions to ASs are withdrawn or new ASs.
4.3. Announcements and Limited Revisions to ASs are issued by the Institute of Chartered Accountants of India in place of existing ASs. Auditing engagement – Audit planning. Role of International Auditing and Assurance Standards Board and Auditing and Assurance Standards Board in India. Relationship of auditing with other disciplines. Amalgamation of partnership firms. Audit programme. Basic Principles governing an audit. Amalgamation and reconstruction (excluding problems of amalgamation of inter-company holding) Accounting involved in liquidation of companies. Auditing and Assurance Standards – Overview. 3. Standard-setting process.
Paper 6: Auditing and Assurance
(One paper – three hours – 100 marks) Level of knowledge: Working Knowledge Objective: To understand objective and concepts of auditing and gain working knowledge of generally accepted auditing procedures and of techniques and skills needed to apply them in audit and attestation engagements and solving simple case-studies. Equity shares with differential rights. Redemption of debentures Advanced problems for business acquisition. Insurance and Electricity Companies Accounting for Special Transactions Departmental and branch accounts including foreign branches Note : If either old Accounting Standards (ASs).
Company Accounts Accounting for employee stock option plan.
2. (a) (b) (c) (d) 5. Financial Statements of Banking. Buy back of securities. Conversion into a company and Sale to a company. Ethical principles and concept of Auditor’s Independence. Statement of Affairs (including deficiency/ surplus accounts) and liquidator’s statement of account of the winding up. Underwriting of shares and debentures. Auditing Concepts – Nature and limitations of Auditing. Control of quality of audit work– Delegation and supervision of audit work.
. Announcements and Limited Revisions to ASs. the syllabus will accordingly include/exclude such new developments in place of the existing ones with effect from the date to be notified by the Institute.
Audit of receipts – General considerations. Direct confirmation. Analytical review techniques. Concept of internal audit. Provision for bad and doubtful debts. Representation by management.
7. Adverse opinion. Test checking. Audit files: Permanent and current audit files. Forward purchases. Distinction between reserves and provisions. 10. Analytical review procedures. Appointment of auditors. Outstanding expenses and income. Joint audit. Audit of impersonal ledger – Capital expenditure. and insurance companies). Allowance received from suppliers. Bank reconciliation. Application of concept of materiality and audit risk. Cash sales. Documentation. Tests of control. Audit of payments – General considerations. Implications of change in the basis of accounting. Approaches to Auditing in Computerized Environment. Review and documentation.4. 11. 12. Audit of Sales – Vouching of cash and credit sales. Audit of suppliers’ ledger and the debtors’ ledger – Self-balancing and the sectional balancing system. Audit of assets and liabilities. Various types of allowances given to customers. 5. Company Audit – Audit of Shares.
Documentation – Audit working papers. Disclosures. 13. Powers and duties of auditors. Other payments and expenses.
6. 17. Sale returns.
14. Confirmatory statements from credit customers and suppliers.. electricity companies. Capital expenditure. Sale on approval basis. Educational institutions. Returnable containers. Audit evidence – Audit procedures for obtaining evidence. Ownership and custody of working papers.
16. Special points in audit of different types of undertakings. Reporting requirements under the Companies Act. Re-computation. Sale under hire-purchase agreement. Goods on consignment. cooperative societies. Purchase returns. Techniques of test checks. Hotels. 8. Reliability of audit evidence. Bank payments. Methods of obtaining audit evidence. Petty cash payments. Evaluation of internal control system. Special audit. Branch audit. Internal Control and Computerized Environment. Clubs. Internal Control – Elements of internal control. Reports and certificates. Other Receipts. Audit Report – Qualifications.
. 19. Internal control check list. Repairs and renewals. 9. Sources of evidence. Receipts from debtors. Qualifications and Disqualifications of Auditors. Disclaimers. Wages. i. Internal control questionnaire. Hire-purchase and leasing companies (excluding banks. deferred revenue expenditure and revenue expenditure. Removal of auditors. Total or control accounts. Audit of Purchases – Vouching cash and credit purchases. Physical verification.
18. Audit Sampling – Types of sampling.e. 1956. Writing off of bad debts.
strings. grouped fields. scheduler / planner. special fields like date.20. variable character fields
. Contents: 1. add-on cards. payroll. ports (serial. expert systems.
Paper 7: Information Technology and Strategic Management
(One paper – three hours – 100 marks) Level of Knowledge: Working knowledge Section A: Information Technology (50 Marks) Objective: To develop an understanding of Information Technology and its use by the business as facilitator and driver. USB ports). workstation. MB. fields. artificial intelligence. expansion slots. logical. buffers. fixed. on-board chips. Introduction to Computers (a) Computer hardware Classification of computers – personal computer. storage devices (b) Bus. Retrievals and Data Base Management Systems (a) (b) Data and information concepts: bits. translators (compilers. integers. spreadsheet. double precision. system utilities General purpose software/ utilities . real. KB. Local bodies and not-for-profit organizations. cache memory. controllers and drivers Computer software Systems software – operating system. Internet browser and e-mail clients Application software – financial accounting. interpreters and assemblers). DBMS. servers and super computers Computer components – CPU. decision support systems – an overview 2. GB. inventory Specialised systems – Enterprise Resource Planning (ERP). floating. bytes. Data Storage. characters. parallel. LAN cards. input output devices. multimedia cards. I/O co-processors. TB Data organization and access Storage concepts : records.word processor. Candidates are expected to have working knowledge of relevant Auditing and Assurance Standards issued by the ICAI with reference to above-mentioned topics. Comptroller and Auditor General and its constitutional role. Note:
Features and basic principles of government audit.
repeater. TCP/IP. Storage techniques: sequential. client-server databases. ISDN etc. architecture : token ring. applications of Internet. client-server Components . benefits Classification: LAN. key. random access including randomizing Logical structure and physical structure of files (c) DBMS models and classification: Need for database. primary key. modem Network topologies – bus. ring. data dictionaries. advantages Data mining and data warehousing . transaction servers. chat servers. WAN. advantages of LAN Client server technology Limitation of single user systems and need for client server technology Servers – database. switch. bridge. mesh. intranets.
Internet and other technologies (a) Internet and world-wide web. peer-to-peer. extranets. DML and DDL (query and reporting).an overview
Computer Networks & Network Security (a) Networking concepts – need and scope. administration.NIC. MAN. ethernet Transmission technologies and protocols – OSI. indexed. VPN. COM+) (d) (e) Data centres: features and functions. index fields. hybrid. sequential access. Network operating system (b) (c) Local Area Networks – components of a LAN. recycling of backups. techniques
4. offsite backups. IDS Introduction to 3-tier and “n”-tier architecture (COM. primary delivery centre and disaster recovery site Network security need. mail servers. gateway. backup schedules. frequent checking of recovery of backup Usage of system software like program library management systems and tape and disk management systems – features.(Memo). random. knowledge databases (d) (e) (f) 3. Internet protocols
. print servers. Internet servers. foreign key. router. hub. block sequential. security levels. object-oriented databases. referential integrity. direct access. functionalities. distributed data bases. application. star. secondary key. models. threats and vulnerabilities. Backup and recovery – backup policy.
E-commerce - nature, types (B2B, B2C, C2C), supply chain management, CRM, Electronic Data Interchange (EDI), Electronic Fund Transfer (EFT), payment portal, ecommerce security; Mobile commerce, bluetooth and Wi-Fi
Flowcharts, Decision Tables. Section B: Strategic Management (50 marks)
Objectives: (a) (b) (c) To develop an understanding of the general and competitive business environment; To develop an understanding of strategic management concepts and techniques; To be able to solve simple cases.
Contents: 1. Business Environment General environment - demographic, socio-cultural, macro-economic, legal/political, technological, and global; competitive environment. 2. Business Policy and Strategic Management Meaning and nature; strategic management imperative; vision, mission and objectives; strategic levels in organisations. 3. Strategic Analyses Situational analysis – SWOT analysis, TOWS matrix, portfolio analysis - BCG matrix. 4. Strategic Planning Meaning, stages, alternatives, strategy formulation. 5. Formulation of Functional Strategy Marketing strategy, financial strategy, production strategy, logistics strategy, human resource strategy. 6. Strategy Implementation and Control Organisational structures; establishing strategic business units; establishing profit centers by business, product or service, market segment or customer; leadership and behavioural challenges. 7. Reaching Strategic Edge Business process re-engineering, benchmarking, total quality management, six sigma, contemporary strategic issues.
ACCREDITED INSTITUTIONS FOR CONDUCTING ORAL COACHING CLASSES PROFESSIONAL COMPETENCE COURSE / INTEGRATED PROFESSIONAL COMPETENCE COURSE (IPCC) AS ON 15.09.2011
State City Name of the Institute Address of the Institute H.L. College Campus, University Road, Navrangpura, AHMEDABAD – 380 009
GUJARAT AHMEDABAD H.L. Centre for Professional Education (HLCPE)
GLS Centre for Professional GLS Campus, Law Garden, Ellisbridge, AHMEDABAD - 380 014 MAHAKOLHAPUR RASHTRA MUMBAI Vivekanand College, Kolhapur Dhirajlal Talakchand Sankalchand Shah College of Commerce, (D.T.S.S. College of Commerce) 2130 ‘E’ Tarabai Park, Tal. Karveer, Dist. Kolhapur, Kolhapur – 416 003 Kurar Village, Malad (East), MUMBAI – 400 097
Malad Kandivali Education Road No.1, Bhadran Nagar, Society’s Nagindas Khandwala S.V. Road, Malad (West), College of Commerce MUMBAI – 400 064 and Arts DOMBIVLI T.Z.A. Shikshan Prasarak Mandal’s Pragati College of Arts and Commerce Pragati College Road, Dattanagar, DOMBIVLI (E) – 421 201 MAHARASHTRA.
State City Name of the Institute Address of the Institute
ANDHRA ANAKAPALLE Samyuktha Health & Gandhinagar, (Vizag Distt.) PRADESH Academic Society’s, Samyuktha ANAKAPALLE – 531 001, A.P. Degree College,
VIJAYAWADA Sri Balaji Degree College HYDERABAD Badruka Institute of Professional Studies MNR Degree & PG College KARNATAKA BANGALORE B.H.S. First Grade College BELGAUM KERALA CALICUT KANNUR KUTTIKKANAM TAMILNADU CHENNAI Karnatak Law Society’s Gogte College of Commerce St. Joseph’s College Shree Narayana College Marian College, Kuttikkanam Smt. Ramkuwar Devi Fomra Vivekananda Vidyalaya (Junior College)
D.No.39-2-55-2, Pitchaiah Street, Labbipet, VIJAYAWADA – 520 010 Badruka College Campus, Kachiguda Station Road, Kachiguda, HYDERABAD – 500 027 Bhagyanagar, Kukatpally HYDERBAD – 500 072 35/1, 11th Main, Fourth Block, Jayanagar, BANGALORE – 560 011 Tilakwadi, BELGAUM – 590 006 Devagiri, CALICUT – 673 008 (Kerala) P.O. Thottada, KANNUR – 670 007 Kuttikkanam, P.O., Peermade, Idukki Dt. KERALA – 685 531 Kumaran Kundram, Chromepet, CHENNAI – 600 044 Civil Aerodrome Post, COIMBATORE – 641 014
COIMBATORE PSG College of Arts & Science ERODE
Kongu Arts and Science College Nanjanapuram, ERODE – 638 107
State WEST BENGAL City KOLKATA Name of the Institute Bharatiya Vidya Bhavan Address of the Institute 77, Asutosh Mookerjee Road, Bhowanipore, KOLKATA – 700 025
State JHARKHAND City DHANBAD Name of the Institute Rajkamal Saraswati Vidya Mandir Takshshila Junior College Biyani Girls College Address of the Institute Ashok Nagar, P.O. Dhansar, DHANBAD – 828 106 (JHARKHAND) Gram Mindia, Navakheda Post, UJJAIN – 456 010 Sector No. 3, Vidhyadhar Nagar, JAIPUR – 302 023
MADHYA UJJAIN PRADESH RAJASTHAN JAIPUR
State City Name of the Institute Address of the Institute Sector 32-C.A.110 065
6th K. Delhi-Dehradun Road.V. College
. Ring Road.M.G. ROORKEE . CHANDIGARH – 160 030 Nehru Nagar.G.UTTARA KHAND
Bishamber Sahai (P. NEW DELHI . DELHI NEW DELHI P.D.CHANDIGARH Goswami Ganesh GARH Dutta Sanatan Dharama College. Stone.
INTEGRATED PROFESSIONAL COMPETENCE EXAMINATION (IPCE) ACCOUNTING TECHNICIAN EXAMINATION (ATE)
GROUP-WISE COMPARISON OF PAPERS
PROFESSIONAL EDUCATION (EXAMINATION - II) PROFESSIONAL COMPETENCE EXAMINATION INTEGRATED PROFESSIONAL COMPETENCE EXAM./ ACCOUNTING TECHNICIAN EXAM. Group I Paper 1 : Accounting Paper 2 : Business Laws, Ethics and Communication Paper 3 : Cost Accounting and Financial Management Paper 4 : Taxation
INTERMEDIATE EXAMINATION (AS PER PARAGRAPH 2A TO SCHEDULE ‘B’)
Group I Paper 1 : Accounting Paper 2 : Auditing Paper 3 : Business and Corporate Laws Paper 3 : Law, Ethics and Communication Paper 2 : Auditing and Assurance Paper 1 : Advanced Accounting
Paper 1 : Advanced Accounting
Paper 2 : Auditing
Paper 3 : Corporate and Other Laws
Group II Paper 4 : Cost Accounting and Financial Management
Group II Paper 4 : Cost Accounting and Financial Management Paper 5 : Taxation Paper 6 : Information Technology and Strategic Management
Group II Paper 5 : Advanced Accounting Paper 6 : Auditing and Assurance Paper 7 : Information Technology and Strategic Management
Paper 4 : Cost Accounting
Paper 5 : Income Tax and Central Sales Tax Paper 5 : Income Tax and Central Sales Tax Paper 6 : Organisation & Management Paper 6 : Information Technology and Fundamentals of Electronic Data Processing
Papers of the Professional Competence Examination (PCE) passed under Regulation 28C (3) of the Chartered Accountants Regulations, 1988 Group I Paper 1 : Advanced Accounting Paper 2 : Auditing and Assurance Paper 3 : Law, Ethics and Communication Group II Paper 4 : Cost Accounting and Financial Management Paper 5 : Taxation Paper-6 : Information Technology and Strategic Management Group I : Paper 3 Cost Accounting and Financial Management Group I : Paper 4 Taxation Group II : Paper 7 Information Technology and Strategic Management Group I : Paper 1 : Accounting and Group II : Paper 5 : Advanced Accounting Group II : Paper 6 : Auditing and Assurance Group I : Paper 2 : Business Laws, Ethics and Communication Paper-wise exemption in Integrated Professional Competence Examination (IPCE)/Accounting Technician Examination (ATE) under Regulation 28D of the Chartered Accountants Regulations, 1988
PAPER-WISE EXEMPTION TO THE CANDIDATES APPEARING IN INTEGRATED PROFESSIONAL COMPETENCE EXAMINATION / ACCOUNTING TECHNINCIAN 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
Papers of the Professional Education (Examination – II) passed under Regulation 28B (5) of the Chartered Accountants Regulations, 1988
Paper 1 : Accounting
Paper 2 : Auditing
Paper 3 : Business and Corporate Laws
Paper 4 : Cost Accounting and Financial Management
Paper 5 : Income Tax and Central Sales Tax
Paper 6 : Information Technology
ACCOUNTING TECHNICIAN COURSE (ATC)
GROUP PASSED UNDER PARAGRAPH 2A OF SCHEDULE ‘B’ OR PROFESSIONAL EDUCATION (EXAMINATION– II) OR PROFESSIONAL COMPETENCE EXAMINATION EXEMPTIONS ENTITLED FOR IN ACCOUNTING TECHNICIAN EXAMINATION DETAILS OF PAPERS IN WHICH CANDIDATES ARE REQUIRED TO APPEAR AND PASS IN ONE SITTING AS A UNIT IN ATE UNIT – 1 Group I Paper 1 : Accounting Group I Paper 2 : Business Laws, Ethics and Communication Group I Paper 4 : Taxation Group I Paper 3 : Cost Accounting and Financial Management ATE ` 1,000/-
1. Advanced Accounting/Accounting
2. Auditing/Auditing and Assurance
3. Corporate and Other Laws/ Business and Corporate Laws/Law, Ethics and Communication Group II Group I Paper 3 : Cost Accounting and Financial Management Group I Paper 4 : Taxation UNIT – 2 ATE
Fee is at par with group-wise appearance
4. Cost Accounting/Cost Accounting and Financial Management
` 1,000/Fee is at par with group-wise appearance
5. Income Tax and CST/Taxation
Group I Paper 1 : Accounting Group I Paper 2 : Business Laws, Ethics and Communication
6. Organisation & Management and Fundamentals of Electronic Data Processing/Information Technology/ Information Technology and Strategic Management
Corporate and Other Laws / Business and Corporate Laws / Law.000/Fee is at par with group-wise appearance
2. Ethics Group II Paper 6 : Auditing and and Communication Assurance Group I Paper 2 : Business Laws. Advanced Accounting / Accounting
INTEGRATED PROFESSIONAL COMPETENCE COURSE (IPCC) (OPTING FOR IPCC AFTER PASSING ATE/(GROUP I OF IPCE)
EXEMPTIONS ENTITLED FOR IN INTEGRATED PROFESSIONAL COMPETENCE EXAMINATION GROUP II DETAILS OF PAPERS IN WHICH CANDIDATES ARE REQUIRED TO APPEAR AND PASS IN ONE SITTING AS A UNIT IN (IPCE) EXAMINATION FEE
GROUP PASSED UNDER PARAGRAPH 2A OF SCHEDULE ‘B’ OR PROFESSIONAL EDUCATION (EXAMINATION– II) OR PROFESSIONAL COMPETENCE EXAMINATION Group I Paper 1 : Accounting and UNIT – 3
1. Auditing / Auditing and Assurance
Group II Paper 5 : Advanced Accounting 3. Ethics and Communication Group I Paper 3 : Cost Accounting and Financial Management Group I Paper 4 : Taxation
Group II Paper 7 : Information Technology and Strategic Management
AND CANDIDATE AFTER PASSING GROUP I OF ATC :
Group I Paper 3 : Cost Accounting and Financial Management
Group I Paper 4 : Taxation
Ethics and Communication UNIT – 5 Group II Paper 5 : Advanced Accounting Group II Paper 6 : Auditing and Assurance ` 1.000/Fee is at par with group-wise appearance Group II Paper 7 : Information Technology and Strategic Management
(Group II passed and opts Group II in IPCE)
4. Organisation & Management and Fundamentals of Electronic Data Processing/ Information Technology/ Information Technology and Strategic Management
. Ethics and Communication
1. Corporate and Other Laws / Business and Corporate Laws / Law.000/-
(Group I passed and opts Group I in IPCE) Group I Paper 2 : Business Laws. Advanced Accounting / Accounting
Fee is at par with group-wise appearance
2.INTEGRATED PROFESSIONAL COMPETENCE COURSE (IPCC)
GROUP PASSED UNDER PARAGRAPH 2A OF SCHEDULE ‘B’ OR PROFESSIONAL EDUCATION (EXAMINATION– II) OR PROFESSIONAL COMPETENCE EXAMINATION EXEMPTIONS ENTITLED FOR IN INTEGRATED PROFESSIONAL COMPETENCE EXAMINATION DETAILS OF PAPERS IN WHICH CANDIDATES ARE REQUIRED TO APPEAR AND PASS IN ONE SITTING AS A UNIT IN IPCE Group I Paper 1 : Accounting and Group I Paper 3 : Cost Accounting and Financial Management Group I Paper 4 : Taxation UNIT – 4 ` 1. Auditing / Auditing and Assurance
3. Income Tax and CST/ Taxation
6. Cost Accounting / Cost Accounting and Financial Management
INTEGRATED PROFESSIONAL COMPETENCE COURSE (IPCC)
GROUP PASSED UNDER PARAGRAPH 2A OF SCHEDULE ‘B’ OR PROFESSIONAL EDUCATION (EXAMINATION– II) OR PROFESSIONAL COMPETENCE EXAMINATION EXEMPTIONS ENTITLED FOR IN INTEGRATED PROFESSIONAL COMPETENCE EXAMINATION DETAILS OF PAPERS IN WHICH CANDIDATES ARE REQUIRED TO APPEAR AND PASS IN ONE SITTING AS A UNIT IN IPCE Group II Paper 5 : Advanced Accounting UNIT – 6
(Group I passed and opts Group II in IPCE) Group II Paper 6 : Auditing and Assurance
` 1. Corporate and Other Laws / Business and Corporate Laws / Law. Income Tax and CST / Taxation
6. Ethics and Communication ` 1. Advanced Accounting / Accounting
Group II Paper 7 : Information Technology and Strategic Management
2. Organisation & Management and Fundamentals of Electronic Data Processing / Information Technology / Information Technology and Strategic Management
.000/Fee is at par with group-wise appearance
Group II Group I Paper 3 : Cost Accounting and Financial Management Group I Paper 4 : Taxation
(Group II passed and opts Group I in IPCE)
4. Auditing / Auditing and Assurance
3.000/Fee is at par with group-wise appearance
1. Cost Accounting / Cost Accounting and Financial Management
5. Ethics and Communication UNIT – 7 Group I Paper 1 : Accounting Group I Paper 2 : Business Laws.
INTEGRATED PROFESSIONAL COMPETENCE COURSE (IPCC)
GROUP PASSED UNDER PARAGRAPH 2A OF SCHEDULE ‘B’ OR PROFESSIONAL EDUCATION (EXAMINATION– II) OR PROFESSIONAL COMPETENCE EXAMINATION EXEMPTIONS ENTITLED FOR IN INTEGRATED PROFESSIONAL COMPETENCE EXAMINATION DETAILS OF PAPERS IN WHICH CANDIDATES ARE REQUIRED TO APPEAR AND PASS IN ONE SITTING AS A UNIT IN IPCE Group I Paper 1 : Accounting UNIT – 8 Group I Paper 3 : Cost Accounting and Financial Management Group I Paper 4 : Taxation Group II Paper 7 : Information Technology and Strategic Management UNIT – 9 Group I Paper 3 : Cost Accounting and Financial Management Group I Paper 4 : Taxation Group II Paper 7 : Information Technology and Strategic Management Group I Paper 1 : Accounting Group I Paper 2 : Business Laws.600/Fee is at par with both groups appearance
4. Income Tax and CST / Taxation
6. Cost Accounting / Cost Accounting and Financial Management
(Group I passed and opts for both Groups in IPCE)
1. Ethics Communication and Communication
(Group II passed and opts for Both Groups in IPCE)
` 1. Ethics and Communication Group II Paper 5 : Advanced Accounting Group II Paper 6 : Auditing and Assurance Group II Paper 5 : Advanced Accounting Group II Paper 6 : Auditing and Assurance ` 1. Corporate and Other Laws / Business Group I Paper 2 : Business Laws. Organisation & Management and Fundamentals of Electronic Data Processing / Information Technology / Information Technology and Strategic Management
. Advanced Accounting / Accounting
Fee is at par with both groups appearance
2. Ethics and and Corporate Laws / Law. Auditing / Auditing and Assurance
12 hrs. 20 hrs.Annexure VII 100 hours Information Technology Training Programme Syllabus
Sl. 6 hrs. No. 100 hrs. 3 hrs. Topic Computer Fundamentals Operating Systems MS-Word MS-Excel MS-Power Point Data Bases MS-Office utilities Accounting package Computer Aided Audit Techniques Web Technology & System Security & Maintenance E-Filing Digital Signatures and Verification of Electronic Records Total 2 hrs. 15 hrs. 6. 3. 5 hrs. 1. 15 hrs. 5 hrs. 4. 2. 5. 9. 11. 8. Duration 1 hr.
EXAMINATION: Weightage Out of 100 60 marks 20 marks 20 marks 60 marks
Online examination Project report to be evaluated by the BOS Module tests Pass marks
. 10 hrs. 10. 7. 12. 6 hrs.
Editing and Proofing Text. buffers. Import / Export of files. Characteristics of computers. Windows) C. BUS. expansion slots. Protection of documents. Document creation – How to create document. LAN cards. Security features in MS-Word. Image handling.
. Categories of computers (micros to super computers). Creating Macros (TTT : 2 hours)
Sending e-mail from Word. I/O devices. Printing a word document. Introduction to operating systems An overview of various operating systems (Unix / Linux. Parts of computers: CPU. The computer system. Inserting. replacing and proofing text (TTT : 1 hour)
Finding and replacing text. filling and formatting a table. Finding. On-board. Hyperlinks and OLE. C. B. Checking for viruses in macros. Spell check and correction. Introduction to Computer
Duration: 1 hour
(Target teaching time (TTT) : 1 hour)
Introduction to computers. Password for documents. (Demonstration of the computer system)
A B. Table handling (TTT : 1 hour)
Formatting the Tables.processors. ports (serial and parallel). Converting Word document to Web document. Word document manipulation. I/O Co. Designing complex Tables. Chips. Mail merge. cache memory. Features of latest Windows operating systems
Duration : 6 hours
(TTT : 1 hour) (TTT : 2 hours)
(TTT : 3 hours)
Introduction to Word Processor
A. Introduction to MS-Word (Latest version)
Duration : 6 hours
(TTT : 2 hours)
Getting started with MS-Word. Add-on-Cards. Multi media cards. controllers and drivers. DOS. Grammar check and correction. D.SYLLABUS Total duration: 100 hours COMPUTER FUNDAMENTALS
A. PDF files.
Starting MS-Excel. Editing data. Data form. Using passwords/ protecting worksheets. C. Printing a presentation. B. Outlines. Creating charts. E. Adding text. Entering data quickly. Controlling the slide show. pie. Slide Show and Printing Presentation (TTT : 3 hours)
Opening a presentation. Pivot table. Filtering. Saving a workbook. Creating subtotals. Creating a new presentation. Printing in excel. D. Working with slide show. Functions: mathematical. Graphical presentation: such as lines. Auto Sum. C. Data Forms and Printing (TTT : 3 hours)
Database. Running a slide show. Deleting a slide. Formula error messages. Charts. Introduction to MS-Excel (Latest version)
Duration: 15 hours
(TTT : 1 hour)
Applications of electronic spreadsheets. Ranges and Functions (TTT : 3 hours)
Cell referencing. Working with word art. Formula editing. Preparing presentations. Presentations and slides. Editing the slide master. statistical. Changing the colour schemes. Range names. Closing a workbook. bars. Pack and go. Adding the transitions to the slide show. Sorting data. Creating a new slide. Formulae.Introduction to Electronic Spread Sheets
A. Changing the order of the slides. Working with Slides. Cell Referencing. Restructuring worksheets. Using names in a formula. Compounding Yearly. Starting MS-Power Point (TTT : 1 hour)
The MS-Power Point window. future value. Slides. Saving a presentation. B. Creating Macros (TTT : 3 hours)
Import/export of data for MIS. F. stacked bars. Entering data. Spreadsheet applications. Special effects in detail. Copying formulae. Using sheets in a workbook. Financial Functions such as NPV (Net Present Value). Media clips. periodic and monthly).
. IRR (Internal Rate of Return). What is a workbook?. Graphs. The MS-Power Point views. Introduction to MS-Power Point (Latest version)
Duration: 5 hours
(TTT : 1 hour)
Use of wizards and templates. Features of MS-Excel. EMI (Equated Monthly Instalments. Drawing objects. Changing the background. Opening non-Excel files in Excel. Speaker’s notes. Auto Calculate. Entering series. Changing the layout for a slide. Creating and using standard templates. Adding clip art / scanned objects. Clearing cells. Ranges. Setting slide timings. Formatting Worksheets and Creating Charts (TTT : 2 hours)
Working with worksheets. Formatting data. Quitting MS-Excel. Data analysis through Excel (TTT: 3 hours)
Introduction to Presentation Software
A. Handouts. Setting up a slide show.
network. Building tables with the table. Page size. Working with reports. DA (Data Administration). Component of databases. Entering data by hand. Applying an auto format to the report. Modifying a query. right. Creating a query. summary). Working with Queries and Reports (TTT : 3 hours)
Working with queries. relational (RDBMS). Creating a form with the form wizard. B. bottom). Creating macros. for the period details. Page headers. Renaming the table. summary reports. data source. Linking a table from another database. date. amount (DR/CR). grouping fields). What are databases used for?. What is a form?. C. Closing a database and Exiting access. hierarchical. Columns (column source. Creating a report with Auto report. (TTT : 1 hour)
. E. Saving information in a database. control totals. Saving & executing a macro. Report sequence. Working with tables. Modifying a form. Exporting information from a database. character. numbers. page footers. Programming (TTT : 5 hours)
Structured Query Language (SQL). Managing databases from the database/ Access wizard. Entering data using a form. Report output controls (pages. Building a database by self. Building and Customizing a Database (TTT : 2 hours) (TTT : 2 hours)
Building databases using Access. Groups (group bands. top. Navigating with the databases/Access wizard. Running a macro. DDL (Data Definition Language). SQL (Structured Query Language). margins (left. totaling). Opening a report. title. Opening file in Access. reporting date. Working with the form. Detailed reports. Backing up a database. Report headers. Introduction to Data Base Management System (DBMS) Introduction to MS Access (Latest version) What is MS-Access?. Importing information into a database. Importing and linking data Compacting a database. Intercolumn space. Navigating in Access. formatting numeric. D. Working with forms.DATA BASES
A. Printing of reports (including labels). Data base Basics
Duration: 15 hours
(TTT : 2 hours)
Types of databases: list. Creating a report with the report wizard. F. Entering data in a database. DML (Data Manipulation Language). Group suppression of repeated lines. Working with the form wizard.
B. printing. Backup. cheques and bank charges. Warning on duplicate entries. Limited number crunching capacity. Types of transactions [main cash receipts and payments. reports such as subsidiary ledgers. querying. Financial statements (Trial Balance. Non-provision for freezing entered data. Lack of the following Audit Trails. Finalisation. Setting up account heads. Generating Books of Accounts (TTT : 4 hours)
Daybooks (cash. C. Using Outlook to subscribe to. consolidation. E. Log of deleted data. Recalling. and subscribing to. exporting data from MS-Excel/MS-Access for financial analysis. funds flow statements. general ledgers. mailing lists. mail polling. Setting up a new company.
. Authorisation signature. Weaknesses to look for in Accounting Packages (TTT : 2 hours)
Password controls not strong. Profit and Loss / Balance Sheet). Types of sub ledger (open type and brought forward type). columnar analysis type. Inadequate controls on automatic entries. D. Basic Concepts relating to Financial Accounting
Duration : 20 hours
(TTT : 3 hours)
Chart of accounts. and viewing newsgroups. Easy exit to operating system. concept of financial year. Calendar and Scheduler Microsoft Outlook (Latest version)
Duration : 3 hours
(TTT : 1 hour) (TTT : 2 hours)
Configuring Outlook for your email. bank. Closing and reopening of books for subsequent financial years after audit. Before and after images of altered data. security review. Financial Analysis Tools (TTT : 6 hours)
Cash flow. Printing of checklists. Inability to add / rename fields. Inflexibility of document formats. Introduction to any Window based Accounting Package (TTT : 3 hours)
Installing & starting the package. audit trail/ transaction trail. Viewing & editing data. sales analysis. Unauthorised modification of heads of account. journal vouchers (debits and credits)]. Usage of unencrypted files. B. Grouping of GL accounts. mail merge to a database file. receiving and managing the email. actual expenditures. Postings. Accessing database. Log of data modification. trend analysis. Log of user accesses of files. Sending and viewing attachments. Searching for.
A. Back up provisions inadequate. Acting on messages. ratio analysis. The general ledger master (entering opening balances). and moving messages. budget vs. The sub ledger master (entering party accounts debtors and creditors). Sending. Missing and duplicate serial numbers. petty cash receipts and payments. bank deposits.Other Utilities and Office Automation Tools
A. restore. Voucher entry. journals).
slab. System and inter system tests. Browser. compound and complex errors). Internet Telephony Reference sites Internet security & System security (TTT : 1 hour) (TTT : 1 hour) (TTT : 2 hours)
System preventive maintenance (virus scan. D. Test data checking (simple. upper limit. Audit of systems development process (including system documentation). C. Audit Techniques (TTT : 3 hours)
Review of systems. check digits. Using generalized audit software. codes. Parallel programming. Controls and Auditing in Computer Environment
Duration : 12 hours
(TTT : 2 hours)
Frequently used checks such as . Audit systems. Table level tests and checks such as control totals. sign test. Reasonableness checks (materiality). E-Commerce Web commerce. hash totals. Random sampling techniques. Purchase online. Audit of system security such as logins.Field checks numeric. Source code review. Parallel processing. Log file review. System performance audit. valid. Test data pack. network setting). Internet addressing. offsite backups. (TTT: 2 hours)
. C. lower limit. junk file deletion. Record level tests. Pre / Concurrent / Post audit of transactions. Data Extraction and Analysis Tools using SQL commands Different Tools available in RDBMS / ERP useful in Audit (TTT : 2 hours) (TTT : 2 hours)
Web Technology & System Security and Maintenance
A. Inter table tests like master present. Payment gateways. Advertisement. Telnet. Cyber Audit using remote logins (TTT : 3 hours)
Audit by simulation of errors. offline. Using separate audit programs. B. master missing. defragmentation. Placements. B. Examination of audit trail. access rights. D. Audit of data security such as online. alpha. www. Audit of SDLC (Systems Development Life Cycle). range. Web Technology
Duration : 10 hours
(TTT : 2 hours)
Internet. Test data generation. Mailing services. Group of fields tests. tracking record deletion) system security (password. E. E. Group of records test.Introduction to Other Accounting Packages
(TTT : 2 hours)
Computer Aided Audit Techniques
A. frauds. Using audit routines as part of regular software.
P. 6. Haryana H. Introduction to E-Filing
(TTT : 1 hour)
What is E-Filing?. 4. 15. 13. Board of School Education J & K State Board of School Education Jharkhand Academic Council Government of Karnataka Department of Pre-University Education Kerala Board of Higher Secondary Education Maharashtra State Board of Secondary & Higher Secondary Education Board of Secondary Education. 14. Manipur
. E-Filing process. 9.
(TTT: 2 hours)
E-Filing A. 12. E-File benefits. 16.
E-Filing of ROC
(TTT : 1 hour)
Digital Signatures and Verification of Electronic Records
(2 hours) Annexure VIII
List of Examinations treated as equivalent to Senior Secondary Examination: 1.
Electronic Data Interchange (EDI) What is EDI?. 7. Relevant Notifications.I and Part . Andhra Pradesh Assam Higher Secondary Education Council Bihar School Examination Board Central Board of Secondary Education (CBSE) Chhatisgarh Board of Secondary Education Council for Indian School Certificate Examinations (CISCE) Goa Board of Secondary and Higher Secondary Education Gujarat Secondary & Higher Secondary Education Board of School Education. Components of EDI. E-File limitations. B. ITR-2. Madhya Pradesh Council of Higher Secondary Education. How is E-Filing different from the regular filing of returns?. E-Filing Security
(TTT : 1 hour)
Instructions for filing the tax return online
(TTT : 2 hours)
ITR Tax Payer Guide Part .II. C. 5. 8.
Board of Intermediate Education. IT Returns. 17. 3.F. 2. ITR-3.
D. Instructions for filling out form ITR-1. 10. Types of E-Filing. 11.
including open Universities.
Meghalaya Board of School Education Mizoram Board of School Education Nagaland Board of School Education Council of Higher Secondary Education. 33.18. 22. 29. Orissa Punjab School Education Board Board of Secondary Education. Students who have completed two years of higher education including Diploma course after passing 10th class. 25. 34.
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.P. Uttarakhand West Bengal Council of Higher Secondary Education Chhatisgarh State Open School M. 31. 19. Rajasthan Tamil Nadu State Board of School Examinations Tripura Board of Secondary Education U. 23.
. 35. 30. 27. State Open School National Institute of Open Schooling Rajasthan State Open School The West Bengal Council of Ravindra Open Schooling Banasthali Vidyapith 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. P. 26. 28. Board of High School and Intermediate Education Board of School Education. 32. 20.
36. 21. established by law in India shall be also eligible for admission to the Common Proficiency Test (CPT) Course. 24. 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.
Three hours . Accounting for Corporate Restructuring (including inter-company holdings).100 marks) Level of Knowledge: Advanced knowledge Objectives: (a) To gain ability to analyze financial statements including consolidated financial statements of group companies and financial reports of various types of entities. derecognition and offset. purposes of consolidated financial statements minority interest. (d) To gain ability to solve financial reporting and valuation cases. Accounting and Reporting of Financial Instruments Meaning. consolidation with foreign subsidiaries.
4.Minority interests. Corporate Financial Reporting . Consolidated profit and loss account. 3. Consolidated Financial Statements of Group Companies Concept of a Group. (c) To familiarise with recent developments in the area of financial reporting. recognition.Issues and problems with special reference to published financial statements. Overview of International Accounting Standards (IAS)/lnternational Financial Reporting Standards (IFRS).
(b) To gain ability to apply valuation principles. Treatment of pre-acquisition and post-acquisition profit. balance sheet and cash flow statement. Treatment of investments in joint ventures in consolidated financial statements. Contents: 1. 5. compound financial instruments Measurement of financial instruments
. Accounting Standards. Treatment of investment in associates in consolidated financial statements. Interpretations by International Financial Reporting Interpretation Committee (IFRIC). Accounting Standards Interpretations and Guidance Notes on various accounting aspects issued by the ICAI and their applications. Consolidation procedures . 6. Consolidation with two or more subsidiaries. Goodwill. Goodwill. Applications of IFRS and US GAAP.Annexure IX Syllabus of Final Course Paper 1: Financial Reporting
(One paper . Significant difference vis-a-vis Indian Accounting Standards. Understanding of US GAAP.
2011 examination onwards. Merchant bankers. GNs. Announcements and Limited Revisions to AS. Announcements and Limited Revisions to ASs are withdrawn or new ASs. Equity settled transactions. Share based payments Meaning. the syllabus will accordingly include/exclude such new developments in the place of the existing ones with effect from the date to be notified by the Institute. Market Value Added.
. Stock and commodity market intermediaries. Announcements and Limited Revisions to AS are issued by the Institute of Chartered Accountants of India in place of existing ASs. Valuation (a) Concept of Valuation
Note: If either old Accounting Standards (ASs). GNs. cancellation and settlement Disclosures 8. Shareholders’ Value Added (c) Human Resource Reporting (d) Inflation Accounting*
* The council has decided to exclude this topic effective from May.
(b) Valuation of Tangible Fixed Assets (c) Valuation of Intangibles including Brand Valuation and Valuation of Goodwill (d) Valuation of Liabilities (e) (f) Valuation of Shares Valuation of Business
10. Guidance Notes (GNs). Transaction with employees and non-employees Determination of fair value of equity instruments Vesting conditions Modification. Financial Reporting by Mutual funds. Non-banking finance companies.Hedge accounting Disclosures 7. Accounting Standards Interpretations (ASIs). ASIs. Developments in Financial Reporting (a) Value Added Statement
(b) Economic Value Added.
stock futures. Gamma. inflation and working capital Capital Budgeting Decisions . Rho and Vega Pricing of Futures .Cost of carry model Imbedded derivatives
. (a) Indian Capital Market including role of various primary and secondary market institutions (b) Capital Market Instruments Financial derivatives . Simulation and decision tree analysis. Greeks Delta. Adjusted Net Present Value.Impact of taxation. index futures.Certainty Equivalent approach. Evaluation of Risky Investment Proposals. 5. Capital Rationing. Leasing decision including cross border leasing Dividend Decisions Dividend theories. Impact of inflation on capital budgeting decisions Preparation of Project Report Social cost benefit analysis.Paper 2: Strategic Financial Management
(One paper . Replacement decisions.Three hours . 2. 4. Theta. depreciation. Risk and Return analysis. Determinants of dividend policies. stock options. 3. Financial Policy and Corporate Strategy Strategic decision making framework Interface of Financial Policy and strategic management Balancing financial goals vis-á-vis sustainable growth. index options Option valuation techniques : Binomial model. Black Scholes Option Pricing Model. Project Planning and Capital Budgeting Feasibility study Cash flow Projections . Sensitivity analysis.100 marks) Level of Knowledge: Advanced knowledge Objective: To apply financial management theories and techniques for strategic decision making. Contents: 1. Application of Real Options in capital budgeting.
9. (b) International Financial Management
. 8. Price Yield relationship. Caps. support and resistance. Money Market operations 11. Bond Price forecasting . Markowitz model of risk return optimization Capital Asset Pricing Model (CAPM) Arbitrage Pricing Theory (APT) Sharpe Index Model Portfolio Management . price patterns. momentum analysis.application of duration and convexity. 10. Swaptions. Industry analysis and Company Analysis Bond valuation. (a) Foreign Direct Investment. Yield curve strategies Technical Analysis . 7.Random walk theory. formulation.market cycle model and basic trend identification.Economic analysis. monitoring evaluation of various schemes of Mutual funds. Monitoring and Evaluation Equity Style Management Principles and Management of Hedge Funds International Portfolio Management. Bollinger Bands. Portfolio Theory and Asset Pricing Efficient Market Theory . (b) Exchange Traded Funds. Floors and Collors. 6.Formulation. (a) Mutual Funds: Regulatory framework.(c)
(d) OTC derivatives -Swaps. Financial Services in India Investment Banking Retail Banking On Line Share Trading Depository Service. Forward Rate Agreements (FRAs). Security Analysis Fundamental analysis . moving averages. Money market mutual funds. Foreign Institutional Investment. different types of charting.
Spin Offs and Asset Divestitures Corporate Restructuring : Refinancing and rescue financing.
.merger integration Legal and regulatory requirements Merger and Acquisition agreement Reverse merger Potential adverse competitive effects of mergers Corporate Takeovers: Motivations. Mergers.
(b) To develop ability to solve cases relating to audit engagements. Sale of assets.Three hours . employee buyouts.Forward.American Depository Receipts. targeted stock offerings. due diligence. Foreign Exchange Exposure and Risk Management Exchange rate determination. categories. Acquisitions and Restructuring Meaning of mergers and acquisition. options and swaps Management of transaction. Global Depository Receipts.Identification and valuation of the target.100 marks) Level of Knowledge: Advanced knowledge Objectives: (a) To gain expert knowledge of current auditing practices and procedures and apply them in auditing engagements. 1 2 . Cross-border takeovers. negotiated wage givebacks. reorganizations of debtors and creditors. Takeover defenses Going Private and Other Control Transactions: Leveraged Buyouts (LBOs).
Paper 3 : Advanced Auditing and Professional Ethics
(One Paper. 1 3 . Exchange rate forecasting Foreign currency market Foreign exchange derivatives . downsizing and layoff programmes. futures. External Commercial Borrowings and Foreign Currency Convertible Bonds International Capital Budgeting International Working Capital Management.Raising of capital abroad . translation and economic exposures Hedging currency risk. Management Buyouts (MBOs). purposes Process of mergers and acquisition . Co-insurance effect. acquisition through negotiation. Forms of takeovers. post .
third party liability. Audit of limited companies Statutory requirements under the Companies Act 1956. Significant differences between Auditing and Assurance Standards and International Standards on Auditing. legal. 2. direct confirmation of debtors and creditors
(b) Analytical review procedures (c) Risk-based auditing. Audit under computerized information system (CIS) environment Special aspects of CIS Audit Environment. Audit Committee and Corporate Governance
9. internal auditor or an expert. control over quality of audit work. extent of delegation. Audit of Consolidated Financial Statements. Audit strategy. need for review of internal control especially procedure controls and facility controls. internal audit and external audit. and liabilities of auditors. 6. flowchart.. and policy considerations. 4. qualifications. computerized audit programmes. distinction between notes and qualifications.
10. Auditing Standards. Rights. import/export control authorities. Statements and Guidance Notes Auditing and Assurance Standards (AASs). Specific services to non-audit clients. Audit reports. use of computers for internal and management audit purposes: audit tools. Dividends and divisible profits — financial. etc. Statements and Guidance Notes on Auditing issued by the ICAI. 5. Audit of branches: joint audits. Certificates under the Payment of Bonus Act. reliance on the work of other auditor.
. principal’s ultimate responsibility. statistical sampling: Special audit procedures. Audit Reports and Certificates for Special Purpose engagements. planning programme and importance of supervision: review of audit notes and working papers. techniques including questionnaire. drafting of reports. detailed observations by the statutory auditor to the management vis-á-vis obligations of reporting to the members. 3. planning and programming Planning the flow of audit work. audit strategy. 8. Risk Assessment and Internal Control Evaluation of internal control procedures. notes on accounts. 7. Certificate on Corporate Governance.Contents: 1. Approach to audit in CIS Environment. Special audit techniques (a) Selective verification. coordination between the two. physical verification of assets. duties. Special Aspects in Audit of E-Commerce Transaction. test packs.
viz. Concepts of propriety and efficiency audit. 20. 2002 with special reference to reporting on internal control. 12. stock brokers. manufacturing operations. The Companies Act. 17.Oxley Act. selling and distribution. Special audit assignments like audit of bank borrowers. 1949 and the Regulations thereunder. Aspects relating to concurrent audit. Internal audit. insurance companies. 13. audit programme. 1956. personnel policies.100 marks)
Section A: Company Law (70 Marks)
Level of Knowledge: Advanced knowledge Objective: To be able to analyze and apply various provisions of the Companies Act in practical situations Contents: 1. co-operative societies and non-banking financial companies. Professional Ethics Code of Ethics with special reference to the relevant provisions of The Chartered Accountants Act. Direct and Indirect Tax Laws.Three hours . Concept of peer review 19. audit of stock and commodity exchange intermediaries and depositories. purchasing operations. Special features in audit of public sector companies. Investigation and Due Diligence. systems and procedures. Salient features of Sarbanes . 18. 16. financial institutions.
Paper 4: Corporate and Allied Laws
(One paper . behavioural problems. Rules and Regulations thereunder in its entirety with specific reference to (a) Accounts and audit
. Cost audit 14. Directions of Comptroller and Auditor General of India under Section 619. Internal Audit Standards issued by the ICAI. Special features of audit of banks. Audit under Fiscal Laws. Specific areas of management and operational audit involving review of internal control. mutual funds. organisation. management and operational audit Nature and purpose. 15.11. inspection of special entities like banks.
Contents: 3. The Insurance Regulatory and Development Authority Act.
. 1949. 1956 (c) The Foreign Exchange Management Act. managerial remuneration (d) Meetings. 1999 (d) The Competition Act. Corporate Secretarial Practice . 2002 The Prevention of Money Laundering Act.Drafting of Resolution. Rules. Arrangements and Reconstructions
(g) Prevention of Oppression and Mismanagement (h) Revival and Rehabilitation of Sick Industrial Companies (i) (j) Corporate Winding up and Dissolution Producer Companies
(k) Companies incorporated outside India (I) Offences and Penalties
(m) E-governance 2. 1938. Regulations and Guidelines issued thereunder. The Insurance Act. The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act.(c) Directors . powers of the Board and related party transactions (e) (f) Inspection and Investigation Compromises. 1999. Notices and Reports
Section B: Allied Laws (30 Marks)
Objective: To develop ability to analyse the requirements of laws stated in the Section.1992. Minutes.
(b) The Securities Contracts (Regulation) Act.powers.
Interpretation of Statutes. An overview of the following laws (a) The Securities and Exchange Board of India Act. 2002
(f) 4. Deeds and Documents. 2002 (e) The Banking Regulation Act.
just in time.Three hours .
Cost Volume Profit Analysis (a) Relevant cost
(b) Product sales pricing and mix (c) Limiting factors (d) Multiple scarce resource problems (e) 3. To develop ability to apply quantitative techniques to business problems 1. etc.100 marks) Level of Knowledge: Advanced knowledge Objective: To apply various management accounting techniques to all types of organizations for planning. selection of products. cost reduction.accounting Target costing.Paper 5: Advanced Management Accounting
(One paper . manufacturing resources planning (MRP). Shut down and divestment. and value analysis (e) (f) Throughput . decision making and control purposes in practical situations.
(b) Activity based approaches to management and cost analysis (c) Analysis of common costs in manufacturing and service industry (d) Techniques for profit improvement. world class manufacturing. automated manufacturing. Cost Management (a) Developments in the business environment. Decisions about alternatives such as make or buy. total quality management. synchronous manufacturing and back flush systems to reflect the importance of accurate bills of material and routings. cost ascertainment and pricing of products and services
(g) Life cycle costing (h) 2.
Pricing Decisions (a) Pricing of a finished product
(b) Theory of price (c) Pricing policy (d) Principles of product pricing (e)
New product pricing
variance analysis. keeping standards meaningful and relevant. 5. Budgets and Budgetary Control The budget manual. Preparation and monitoring procedures. Preparation of functional budget for operating and non-operating functions. Principal budget factors.(f) (g)
Pricing strategies Pricing of services
(h) Pareto analysis 4.PERT/CPM. 9. Flexible budgets. Budget variances. 2011 examination onwards. 7. Standard Costing and Variance Analysis Types of standards and sources of standard cost information. Cost Management in Service Sector Uniform Costing and Inter firm comparison Profitability analysis . Master budget. disposal of variances. Financial Decision Modeling (a) Linear Programming
(b) Network analysis . resource allocation and resource leveling (c) Transportation problems (d) Assignment problems (e) (f) Simulation Learning Curve Theory
(g) Time series forecasting* (h) Sampling and test of hypothesis*
* The council has decided to exclude these topics effective from May. Capital expenditure budget.
. Cash budgets. Transfer pricing (a) Objectives of transfer pricing
(b) Methods of transfer pricing (c) Conflict between a division and a company (d) Multi-national transfer pricing. evolution of standards. 6. continuous improvement. 8.Product wise / segment wise / customer wise
1 0 . (a) Investigation and interpretation of variances and their inter relationship
(b) Behavioural considerations.
Control objectives (a) Information Systems Controls Need for control
. DSS. training and end user computing System testing. EIS. Management Information System . laws and standards in computerized Information system.Nature and types of systems. conversion and start-up Hardware contracts and software licenses System implementation Post-implementation review System maintenance System safeguards Brief note on IS Organisation Structure 3.Paper 6: Information Systems Control and Audit
(One Paper . Contents: 1. Information Systems Concepts General Systems Concepts . nature and types of information. attributes of information.RAD.various types of information systems . assessment.Three hours . ES 2. MIS.100 marks) Level of knowledge: Advanced knowledge Objective: To gain application ability of necessary controls.TPC.Role of information within business Business information systems . Prototype etc Hardware evaluation and selection Systems operations and organization of systems resources Systems documentation and operation manuals User procedures. Systems Development Life Cycle Methodology Introduction to SDLC/Basics of SDLC Requirements analysis and systems design techniques Strategic considerations : Acquisition decisions and approaches Software evaluation and selection/development Alternate development methodologies.
IT.Effect of computers on Internal Audit Responsibility for control . Audit trails. acquisition/development Standards and controls applicable to IS development projects Developed / acquired systems Vendor evaluation Structured analysis and design Role of IS Auditor in System acquisition/selection (d) Controls over system implementation Acceptance testing methodologies System conversion methodologies Post implement review Monitoring. Computer-dependent control.Management. privacy and security Classification of information Logical access controls Physical access controls
. Error investigation controls. personnel. use and measurement (e) Control over System and program changes Change management controls Authorization controls Documentation controls Testing and quality controls Custody. User Controls (Control balancing. auditors Cost effectiveness of control procedure Control Objectives for Information and related Technology (COBIT) (b) Information Systems Control Techniques Control Design: Preventive and detective controls. Manual follow up) Non-computer-dependent (user) controls: Error identification controls. copyright and warranties Role of IS Auditor in Change Management (f) Control over Data integrity. Processing recovery controls (c) Controls over system selection. Error correction controls.
(b) Various levels/types of testing such as: (i) Performance testing. 8. vandalism.
10. (a) Meaning of Vulnerabilities. Audit Tests of General and Automated Controls (a) Introduction to basics of testing (reasons for testing). (f) Integration with departmental plans. testing and documentation.(e) Disaster recovery procedural plan.Environmental controls Security concepts and techniques . (ii) Parallel testing. etc. (d) Alternative processing facility arrangements. IS Audit Reporting .100 marks) Level of Knowledge: Advanced knowledge Objectives: (a) To gain advanced knowledge of the provisions of direct tax laws. social costs. (b) Threat and risk management. excessive costs. business. Risk assessment methodologies and applications. (c) Software and data backup techniques. statutory sanctions. (b) Fraud. (g) Insurance An overview of Enterprise Resource Planning (ERP) Information Systems Auditing Standards. 5.
(b) To acquire the ability to apply the knowledge of the provisions of direct tax laws to various situations in actual practice. etc.a practical perspective
7. (d) Preventive/ detective/corrective strategies Business Continuity Planning and Disaster recovery planning: (a) Fundamentals of BCP/ DRP. virus control Role of IS Auditor in Access Control 4. best practices (BS7799. HIPPA. interruption.Cryptosystems.
. competitive disadvantage. error. Public Key Cryptography & Firewalls Data security and public networks Monitoring and surveillance techniques Data Privacy Unauthorised intrusion. Data Encryption Standards (DES). Risks.Three hours . 2000
Paper 7: Direct Tax Laws
(One paper . guidelines. hacking. Audit Policy. Controls. Threats. Information Technology Act. (iii) Concurrent Audit modules/Embedded audit modules.) Drafting of IS Security Policy. CMM etc. (c) Risk Assessment and Risk Management.
Further. These may include tax considerations with regard to specific management decisions. 1944 and the related Rules. Circulars and Notifications. the syllabus will accordingly include such new legislations in the place of the existing legislations with effect from the date to be notified by the Institute. Contents:
Section A: Central Excise (40 marks)
Central Excise Act.If new legislations are enacted in place of the existing legislations relating to income tax and wealth tax. amalgamations. international taxation. Note . with special reference to relevant accounting standards and other precautions to be observed to maximise tax relief.Three hours . they should have a basic understanding about the ethical considerations in tax management and compliance with taxation laws.100 marks) Level of Knowledge: Advanced knowledge Objectives: (a) To gain expert knowledge of the principles of the laws relating to central excise customs and service tax. personnel compensation plans. The Income-tax Act. 2.Contents: I. 1961 and Rules thereunder (90 marks) The Wealth-tax Act. 1957 and Rules thereunder (10 marks) While covering the direct tax laws. tax incentives. Central Excise Tariff Act. Circulars and Notifications. 1985 and the related Rules. inter-relationship of taxation and accounting.
Section B: Service tax & VAT (40 marks)
Law relating to service tax as contained in the Finance Act. Issues related to Value Added Tax: 1. foreign collaboration agreements. students should familiarise themselves with considerations relevant to tax management. 1994 as amended from time to time and the related Rules.
(b) To acquire the ability to apply the knowledge of the provisions of the above-mentioned laws to various situations in actual practice. II. Backdrop for State-Level VAT in India Taxonomy of VAT
Paper 8: Indirect Tax Laws
(One paper .
. the syllabus will accordingly include such new legislations in place of the existing legislations with effect from the date to be notified by the Institute.
Input tax credit. Students shall not be examined with reference to any particular State VAT Law. 4. Note – If new legislations are enacted in place of the existing legislations relating to central excise. students should familiarize themselves with the inter-relationship of accounting with excise.3. customs and service tax and also the ethical considerations involved in the compliance of these laws. works contract. 5. 6. 1962 and the related Rules. customs and service tax. 1975 and the related Rules. 7. While covering the above laws. VAT and Central Sales Tax
Section C: Customs (20 marks)
Customs Act. lease transactions and hire purchase transactions. Circulars and Notifications. tax invoices Small dealers and composition scheme VAT procedures VAT in relation to incentive schemes. Customs Tariff Act.
Kerala. Chennai. Arunachal Pradesh. Civil Lines Kanpur – 208 001 (U. Chhatisgarh and Jharkhand
Delhi. Road.org Northern India Regional Council of The Institute of Chartered Accountants of India ICAI BHAWAN.Where to submit / despatch filled in application form?
The application form is to be submitted in consonance with the address of the student as stated below: Gujarat. Haryana. Fax: 0512-3011193 E-mail: cro@icai. 27. Students who are submitting application form online are advised to take a print out of the filled-in application form. Shahadara. Goa and the Union Territories of Daman & Diu and Dadra & Nagar Haveli Western India Regional Council of The Institute of Chartered Accountants of India ICAI BHAWAN.110032 Phone: 011-39893990. Post Box No. Fax: 044-30210355 E-mail: sro@icai. affix the photograph.
. 314.org Southern India Regional Council of The Institute of Chartered Accountants of India ICAI BHAWAN 122. Mizoram and the Union Territory of Andaman-Nicobar Ilands
Uttar Pradesh. Kolkata. Nagaland. Bihar. Orissa. Jammu & Kashmir. Tripura. Maharashtra. Kanpur and New Delhi respectively. Madhya Pradesh. Manipur. Cuffe Parade. 3314 Nungambakkam. Anandilal Poddar Sarani. West Bengal. Vishwas Nagar. Karnataka. sign the application form and despatch to the appropriate office of the Institute as stated above. Colaba. 30210601 Fax: 011-30210680 E-mail: email@example.com Eastern India Regional Council of The Institute of Chartered Accountants of India ICAI BHAWAN. Sikkim. M. Institutional Area. Delhi . Rajasthan. A copy of the prospectus will be sent to such students alongwith the study package. 7.) Phone: 0512-3989398. (Russell Street) Kolkata – 700 071 Phone: 033-39893989. Meghalaya. 16/77B.org
Andhra Pradesh. 52-54. Chennai – 600 034 Phone: 044-39893989. Himachal Pradesh.G. Fax: 022-39802953 E-mail: wro@icai. Tamil Nadu and the Union Territory of Pondicherry and Lakshadweep Ilands
Assam. Post Box No.org Central India Regional Council of The Institute of Chartered Accountants of India ICAI BHAWAN. Mumbai – 400 005 Phone: 022-39893989. Punjab and the Union Territory of Chandigarh
The student should make the draft payable accordingly to Mumbai. P. Uttaranchal. Fax: 033-30211145 E-mail: ero@icai.
Dhantoli. Sr.Besides the offices of Regional Councils. 8. 2680593. No. BANGALORE . 19 . 'ICAI Bhawan'. Fax: 080 22252547 E-mail: bangalore@icai. Diwan Bahadur Road.682 016 Ph: 0484 2369238. Ernakulam. suraticai@yahoo. Navjivan Naranpura. VADODARA . Gujarat Ph: 0261 2472932.org. Fax: 0261 2464413 E-mail: surat@icai. 2464413. 'ICAI Bhawan' Kalali .org Nagpur Branch of WIRC of the ICAI. Scheme No.in
Pune Branch of WIRC of The Institute of Chartered Accountants of India.org Indore Branch of CIRC of the ICAI. Near Mahavir Furniture. 3254900. No. 2680593. 2369258. Community Centre.org
. Fax: 040 23393200 E-mail: hyderabad@icai. KOCHI . firstname.lastname@example.org 012 Ph: 0265 2681115. AHMEDABAD . 'ICAI Bhawan' No. R.S. Memorial Building. 57/3146. 2372953.II (Near M. icairnag_ngp@sancharnet. 'ICAI Bhawan' 20/1.org.org Coimbatore Branch of SIRC of the ICAI.P. Plot No. 23393182. 2461154.O. Bibawewadi.440 012 Ph: 0712 2443968. 333.co. CTS No. Behind Vijayanand Society.500 004 Ph: 040 23317026. PUNE .560 052 Ph: 080 30563500.org. At Ladra. Sector-35 B. 'ICAI Bhawan' D-1. 16/0.641 002 Ph: 0422 2552872. Part . Fax: 0422 2547764 E-mail: coimbatore@icai. 2441196.S.452 010 Ph: 0731 4298198.org.org Hyderabad Branch of SIRC of The Institute of Chartered Accountants of India. where students are to be registered for CPT/ IPCC/ Final Course. Fax: 079 27680537 E-mail: email@example.com Baroda Branch of the Western India Regional Council of The Institute of Chartered Accountants of India.411 037 Ph: 020 24212250/51/52. Red Hills HYDERABAD . Munjeri. Kale Hospital.302 004 Ph: 0141 3989398. 3044214 Fax: 0141 3044215.in
Ernakulam Branch of SIRC of the ICAI. 27680537. Millers Tank Bed Area. 30563501. CHANDIGARH -160 022 Ph: 0172-5067756. NAGPUR . Opp.org
Jaipur Branch of CIRC of The Institute of Chartered Accountants of India. they can submit their application forms and can get further details from the following locations:
Ahmedabad Branch of WIRC of The Institute of Chartered Accountants of India. Jhalana Doongri. icaipune@vsnl. 3044200.Tandalja Road. Fax: 020 24489732 E-mail: firstname.lastname@example.org Bangalore Branch of SIRC of The Institute of Chartered Accountants of India.S.com Surat Branch of WIRC of the ICAI. 2547764. E-mail: ernakulam@icai. E-mail: email@example.com Chandigarh Branch of the Northern India Regional Council of the ICAI. JAIPUR . Sardar Patel Colony Near Usmanpura Under Bridge.395 001. M. P. 'ICAI Bhawan'.B. Fax: 0265 2681115. Fax: 0731 4298198 E-mail: indore@icai. Saifee Building. Fax: 0712 2454166 E-mail: nagpur@icai. Fax: 0484 2372953. Fax: 0172-2727699 E-mail: chandigarh@icai. Pollution Board) INDORE . Dewan's Road. 'ICAI Bhawan'. Dayalji Baug Road (Dutch Garden Road) Nanpura SURAT . Parshwanath Nagar. 'ICAI Bhawan' 11-5-398/C. E-mail: baroda@icai. ‘ICAI Bhawan’. COIMBATORE . 78. 'ICAI Bhawan' 2nd Floor. Puram. Opp. 573. 123. 8. 'ICAI Bhawan' Plot No. Institutional Area.380 014 Ph: 079 27680946.