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CPT – Common Proficiency Test

Common Proficiency Test is an entry level test for Chartered Accountancy Course CPT is an objective type test with negative marking. It is a test of four subjects i.e., Fundamentals of Accounting, Mercantile Laws, General Economics and Quantitative Aptitude. This test is of 200 marks. This test is divided into two sessions each session is of hours and having a break.


Session – I (Two Sections– Two hours – 100 Marks)

Section A: Fundamentals of Accounting ( 60 Marks )
Section B: Mercantile Laws ( 40 Marks )

Session – II (Two Sections– Two hours – 100 Marks)

Section C: General Economics ( 50 Marks )
Section D: Quantitative Aptitude ( 50 Marks )
The Board of Studies has prepared comprehensive study materials covering all four subjects.

Integrated Professional Competence Course (I.P.C.C.)


Paper 1: Accounting (100 marks)

Paper 2: Law, Ethics and Communication
Part I: Law (60 marks), Bsiness Laws (30 marks), Company Law (30 marks)
Part II: Business Ethics (20 marks)
Part III: Business Comussinion (20 marks)

Paper 3: Cost Accounting and Financial Management
Part I: Cost Accouting (50 marks))
Part II: Financial Management (50 markis)

Paper 4: Taxation
Part I: Income – tax (50 marks)
Part II: Service Tax (25 marks) and VAT (25 marks)


Paper 5: Advanced Accounting (100 marks)

Paper 6: Auditing and Assurance (100 marks)

Paper 6: Information Technology and Strategic Management
Section A: Information Technology (50 marks)
Section B: Strategic Management (50 marks)


Highlights of the new final course:

Financial Reporting: This new subject deals with the whole gamut of financial reporting specially corporate financial reporting. This subject also focuses on learning of IFRS based financial reporting and US GAAP based financial reporting. This is aimed at making Indian chartered accountants globally competitive.

Business valuation principles are also covered in this new subject.

Strategic Financial Management: Financial consultancy has become a key functional area of the chartered accountants. With a view to strengthen this knowledge area, this paper has been introduced. Special focus of this paper are on Mergers and Acquisitions, Investment Analysis and Portfolio Management, Financial Derivatives, Commodity Derivatives, Global Sourcing of Capital ADR, GDR and Foreign Exchange Risk Management.

Advanced Management Accounting:

This course has been conceptualised to strengthen the strategic role of a chartered accountant in an organization as a management consultant. Special focus of this paper is on Strategic Cost Management including Activity Based Cost Management, Target Costing, Value Chain Analysis and Restructuring the Value Chain, Transfer Pricing including International Transfer Pricing within the WTO framework, Financial Modelling using Quantitative Techniques and Cost Management in Service Sector.

Advanced Auditing and Professional Ethics:

The updated version of this course focuses on application of Audit and Assurance Standards in practical situation and knowledge of Professional Ethics. Information Systems Control and Audit: This course is formulated with a view to enhance the knowledge of the Chartered Accountants on relevant aspects of Information Technology and their applications in accounting, audit and finance. The special focus of this course is on Information System Control Techniques, Data integrity privacy and security, Risk Assessment Methodologies, Information System Auditing Standards, Guidelines & Best Practices, and Information Security Policy.

In addition, principle of e-governance has been emphasized in Corporate and Allied Laws, International Taxation and Value Added Tax are important features of the updated subject contents of Direct Tax Laws and Indirect Tax Laws respectively.

Subjects covered in Final (New) Cours


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)


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)

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