In present days Charted Accountancy is the most proffered profissational course after M.B.A. Now in this article I want to discuss the primary steps, stages in complication of charted accountancy course.

There are two(most in common)chances to join in Charted accountancy coerce

after complication  of S.S.C (state syllabus ) or +2(C.B.S.C)after graduation (degree)

Even the peoples who completed their other profissational course like M.B.A, C.W.A also has a chance to Join in these course

Coming to the stages in C.A course

1)CPT-Common Proficiency Test

Common Proficiency Test will be an objective types multiple choice based examinations. Candidates will be allowed to opt for Hindi medium Question Paper Booklet for answering the questions. Common Proficiency Test (CPT) is open only to those students who are already registered with the Institute of Chartered Accountants of India for the said course and fulfill the requisite eligibility conditions.

2)IPCC-INTEGRATED PROFESSIONAL COMPETENCE COURSE

N this IPCC curriculum only working knowledge of core and allied subjects to accountancy profession is covered, while at the Final (New) course, advanced application knowledge of core and allied subjects to accountancy profession has been intended to be inculcated. The unique feature of the entire theoretical education of the Chartered Accountancy curriculum is the supportive and complementary practical training. A student would undergo theoretical education and 3 years of practical training after passing Group-I of IPCC/Accounting Technician (Level-1). This balanced approach will help the students to appreciate the underlying practical applications of the theoretical education scheme.

Group I : Paper 1 : Advanced Accounting :

[One paper: Three hours - 100 marks]

Level of Knowledge :

ca,icwa,cs,cima,icma,acca,cpa,accounting,profession

Working knowledge.

Objective . . .

To lay a theoretical foundation for the preparation and presentation of financial statements.

To gain working knowledge of the professional standards, principles and procedures of accounting and their application to different practical situations,

To gain the ability to solve simple problems and cases relating to company accounts including special type of corporate entities, partnership accounts and

To familiarize students with the fundamentals of computerized system of accounting.

Contents . . .

1. Conceptual Framework for Preparation and Presentation of Financial Statements

2. Accounting Standards An overview; standards setting process

Working knowledge of:

1: Disclosure of Accounting Policies

2: Valuation of Inventories

3: Cash Flow Statements

4: Contingencies and Events occurring after the Balance Sheet Date

5: Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies

6: Depreciation Accounting

7: Construction Contracts (Revised 2002)

9: Revenue Recognition

10: Accounting for Fixed Assets

11: The Effects of Changes in Foreign Exchange Rates (Revised 2003)

12: Accounting for Government Grants

13: Accounting for Investments

14: Accounting for Amalgamations

16: Borrowing Costs

19: Leases

20: Earnings Per Share

26: Intangible Assets

29: Provisions, Contingent Liabilities and Contingent Assets.

3. Company Accounts ca,icwa,cs,cima,icma,acca,cpa,accounting,profession

(a) Preparation of financial statements – Profit and Loss Account, Balance Sheet and Cash Flow Statement

(b) Profit (Loss) prior to incorporation

(c) Alteration of share capital, Conversion of fully paid shares into stock and stock into shares, Accounting for bonus issue, Accounting for employee stock option plan, Buy back of securities, Equity shares with differential rights, Underwriting of shares and debentures, Redemption of debentures

(d) Accounting for business acquisition, Amalgamation and reconstruction (excluding problems of amalgamation on inter-company holding)

(e) Accounting involved in liquidation of companies, Statement of Affairs (including deficiency/surplus accounts) and Iiquidator’s statement of account of the winding up.

4. Financial Statements of Banking, Insurance and Electricity Companies

5. Average Due Date, Account Current, Self-Balancing Ledgers

6. Financial Statements of Not-for-Profit Organisations

7. Accounts from Incomplete Records

8. Accounting for Special Transactions (a) Hire purchase and instalment sale transactions

(b) Investment accounts

(c) Departmental and branch accounts including foreign branches

(d) Insurance claims for loss of stock and loss of profit.

9. Advanced Issues in Partnership Accounts Final accounts of partnership firms – Admission, retirement and death of a partner including treatment of goodwill; Dissolution of partnership firms including piecemeal distribution of assets; Amalgamation of partnership firms; Conversion into a company and Sale to a company.

10. Accounting in Computerised Environment An overview of computerized accounting system–Salient features and significance, Concept of grouping of accounts, Codification of accounts, Maintaining the hierarchy of ledger, Accounting packages and consideration for their selection, Generating Accounting Reports.

Note– If either old Accounting Standards (ASs), Announcements and Limited Revisions to ASs are withdrawn or new ASs, Announcements and Limited Revisions to ASs are issued by the Institute of Chartered Accountants of India in place of existing ASs, 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.

For Integrated professional Competence Course (IPCC) and Accounting Technician Course (ATC) registration and re registration use the following link:

http://www.icai.org/post.html?post_id=3771

      3)Article ship:

The pursuance of the final Course involves compulsory theoretical education and practical training which run concurrently for a period of three years.

After passing IPCC, candidates are eligible for registration as articled clerks/Audit Clerks for practical training and for admission to the Final course.

4)final:After passing PCE register for Final course with the Board of Studies; Collect Study Materials of the Final Course and prepare for Final Examination; May undergo General Management and Communication Skills Course while undergoing Final course; and Complete articled

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