17 December 2007
PCE is old PE II. The difference is that for PCE you need to clear CPT under new scheme. Those who are registered in PEII will be transferred to PCE.
PCE subjects are: 1. Accounts 2. Law, Ethics And Communication 3. Auditing And Assurance 4. Costing And Financial Management 5. Taxation 6. Strategic Management And Information Technology
This is first stage of the chartered accountancy curriculum wherein only working knowledge of core and allied subjects to accountancy profession is covered, while at the Final 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 practical training concurrently from the beginning of the first stage of theoretical education. This balanced approach will help the students to appreciate the underlying practical applications of the theoretical education scheme. Neither a stand-alone theory nor a practice without theoretical knowledge would make a professional successful. Moreover, there is a need to develop proper understanding of the business environment and information technology which acts as an important business process driver. It is also essential to sharpen communication skills to be able to work successfully in the competitive business environment. Subjects covered in PCC Group I Paper 1: Advanced Accounting (100 Marks)
Paper 2: Auditing and Assurance (100 Marks)
Paper 3: Law, Ethics and Communication Part I: Law (60 Marks) Business Laws (30 Marks) Company Law (30 Marks) Part II: Business Ethics (20 Marks) Part III: Business Communication (20 Marks)
Group II Paper 4: Cost Accounting and Financial Management Part I: Cost Accounting (50 marks) Part II: Financial Management (50 marks)
Paper 5: Taxation Part I: Income-tax (75 Marks) Part II: Service Tax and VAT (25 Marks)
Paper 6: Information Technology and Strategic Management Section A: Information Technology (50 marks) Section B: Strategic Management (50 marks)
The subjects of PCC are classified into two groups which a student can study and appear in the examination group-wise or both the groups together. 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;
Inculcating ethical values through a module of Business Ethics;
Updated knowledge of business communication through modules of developing soft skill, leadership style, group dynamics and developing knowledge of business meetings and legal documents;
Building knowledge of business strategies, business environment and corporate governance;
Introducing Service Tax and VAT as special module with the purpose of strengthening knowledge of indirect tax;
Upgraded module of Information Technology linked to the 100 Hours Information Technology Training;
Upgraded modules of Audit and Assurance, Cost Accounting and Financial Management;
Imparting basic knowledge of e-filing under the company law leading to development of advanced knowledge of e-governance at the final stage.