21 March 2012
please anybody help me... please tell me all requirements to be fulfill before appeare in ipcc group1 examination. i want to first attempt in November, i got registration... please tell me all steps to be fulfill regarding this...
22 March 2012
After passing CPT a student has to register himself for IPCC. A student can appear in IPCC only after 9months of passing CPT. The IPCC examination are held twice a year in the month of May and November. This is also divided in 2 groups.
Group I: Paper1:Accounting Paper2:Law,Ethics and communication Paper3:Cost accounting and financial management Paper4:Taxation
Group II: Paper5:Advanced Accounting Paper6:Auditing and Assurance Paper7:Information Technology and Strategic Management
The level of knowledge is working knowledge.
One can undergo for one or both groups. To clear exams minimum passing marks are total 50% in each group and 40% in each paper. Once a group is cleared you are not required to pass it again. After passing group1 one can also enroll for ATC certificate. This for one who don't wish to study ahead for any reason. They are awarded with Accountant Technician certificate which has its own scope.
After clearing group I one has to register for practical training. It is given by a practicing C.A. For ATC one year practical training is required and for C.A. 3 years practical training is required.
After completion of due training one can go for C.A. final exams.There is some provision also to give exams in last 6months of training. C.A. final exams contains following subjects.
Group I: Paper1:Financial Reporting Paper2:Strategic Financial Management Paper3:Advanced Auditing and Professional Ethics Paper4:Corporate and Allied Law
Group II: Paper5:Advanced Management Accounting Paper6:Information System control and Audit Paper7:Direct Tax Laws Paper8:Indirect Tax Laws
The passing % is same as for IPCC i.e. aggregate of 50% in a single group and minimum 40% in each subject. After clearing both group of final exams one has to a 15 days special training on GMCS i.e. general management and communication skills.
After this one can enroll as a member of the ICAI and can be called Chartered Accountant.
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