what is CPT,?

Question

ON BASIS 12th i want try for CA career , but i dont know what should i do first , i want appear for PE-1 or CPT , WHAT IS DIFFERENCE BETWEEN TWO ,please tell what to apear first , or both have no reference ,

Answer 1

CPT is the acronym for Common Proficiency Test!

"The month of May, this year, is likely to be very important for Chartered Accountants in the country. That month, the Parliament is expected to give a final shape to the changes proposed in the nature of examinations one needs to clear to become a registered chartered accountant in India.

The proposals now before the Parliament - that fundamentally seek to change the image of the profession - include an entrance examination, commencement of practical training right after clearing the entrance and intensive IT training and exposure to general management methods and effective communication techniques.

The evolution


The manner in which one becomes a CA has kept changing over time. Initially - and that was decades ago - one could even think of becoming a CA only after finishing graduation. After graduation a candidate had to undergo five years of what is called articleship training.

Then the candidates went on to write the intermediary examination and then the final examination before finally becoming eligible to begin practice as a chartered accountant. Later, the period of practical training was reduced to four years and finally to just above three years. At that time graduates from different subjects, including science subjects (but not those with degrees in music or the fine arts) were deemed eligible for the enrolling for the CA programme if they had scored a first class or above. Commerce graduates on the other hand needed only a second class.

If the student did not meet the minimum marks criteria then, he or she could write the entrance examination of the Institute of Chartered Accounts of India (ICAI) and then go on to the other stages of CA training. But then, the bottomline academic requirement was a university degree.

In 1991-92, all this changed. Faced with an ever-plummeting numbers of candidates who eventually went on to become chartered accountants and realising that the cream of the brainpower was being siphoned off by engineering and medical colleges (partially due to the insistence on a university degree) the ICAI decided to allow candidates who had cleared their Plus Two examinations to appear for what was called the Foundation Course of the CA programme.

With that the entrance test became history. For the average student the Foundation Course took about 10 to 12 months to clear. Then the candidate could begin his arcticleship training for three-and-a-half years. Of course those with a degree (and the specified minimum marks) could skip the Foundation and go directly to the training part.

Yet another change


Yet another change in the system was brought about in October 2001. From then on the ICAI introduced what is called the PE-1 and PE-2 system of examinations in place of the Foundation and the Intermediate examinations. Those who passed the Plus Two examinations could sign up for the PE-1, which could be written after 10 months of preparation. They then moved on to the PE-2 for which too 10 months of preparation was needed. Even then those with a degree and the specified minimum percentage could skip the PE-1 and move directly to the PE-2.

The catch


The catch here was that one could begin practical training - what many practicing CAs identify as the most important time for a CA-in-the-making - only after successfully completing the PE-2 examination. This, according to many chartered accountants was one thing that proved to be a major reason for the nose-diving numbers of students who eventually ended up being a CA.

For starters, the PE 1 and 2 were no cakewalk, except for the really brainy ones. While PE-1 consisted for four papers - fundamentals of accounting, fundamentals of auditing, economics and business communication and organisation management - the PE-2 was more complicated.

For that examination a candidate had to appear for six papers in two groups.

These papers included business and company law, cost accounting, income tax and central sales tax and even an IT paper. The PE-2 in particular proved to be the waterloo of an aspiring CA. "Only the really dedicated could make it past the PE-2," admits the former chairman of the Thiruvananthapuram branch of the ICAI, George K. Pulimood, "there were many who just could not get through to the final examination."

The high levels of uncertainty regarding the clearing of the PE-2 coupled with the fact that a candidate could begin practical training only after getting past the PE-2 made many students think `why bother at all.' Overall, there was a sense of frustration among those who failed to make it past the PE-2 and the feeling that they had wasted two to three years of their learning life.

Attitude and aptitude


Finally there was the question of aptitude. "All these years there has never been a system for gauging the aptitude of a person who signs up for the Foundation or the PE-1 or the entrance examination," points out the present chairman of the Thiruvananthapruam branch M. R. Ranjit Karthikeyan.

He argues that just because some student gets a first rank in B.Com., it does not automatically mean that he or she is good material for becoming a CA. "In fact there have been any number of candidates, brilliant in academics, who have failed to become a CA. This is not so in the case of engineering, medicine or the MBA," he adds.

Proficiency test



Now, if the Parliament gives its nod, the route to become a CA will change again. Anyone, whether he is a plus two pass or a degree holder, will now have to write what is called a Common Proficiency Test; an objective-type examination that, among other things, is expected to find out whether a candidate has it in him to become a CA.

Once a candidate is past the CPT he can start practical training. After 18 months of such training the candidate can appear for the Professional Competence Examination (something that can be considered the equivalent of the PE-2). Sometime during the last six months of the practical training, the candidate can appear for the CA Final examination. It is also proposed that all candidates who do their practical training also undergo a minimum 100 hours of IT training and also compulsorily attend a General Management and Communication Skills (GMCS) programme. For the final examination, however, the case-study method of assessment looks set to continue unchanged.

It is also likely that there is a restructuring of the subjects for the PCE and the final examination. According to many practicing CAs greater emphasis may be given on business ethics, IT, management accounting and indirect taxation. Many other changes, designed to bring the India CA on a par with his Western counterparts, may also be effected. Mr. Karthikeyan told The Hindu-Educationplus that a final decision on the curricular changes is yet to be taken.

The advantage


The major advantage of the proposed system is that a candidate who writes the PCT after his Plus Two can hope to become a CA in four years. Now, it takes five years and three months.

One disadvantage, as pointed out by some Thiruvananthapuram-based chartered accountants, is that the proposed system does not provide for the difference in capabilities of a plus two student and a degree holder; for one, both have to write the PCT and both start the practical training together.

"I personally doubt that a plus two student will have the desired maturity to do an audit," a CA practicing in Thiruvananthapuram said.

"In the old system, whether Foundation or PE-1, they had to study accounting, economics and so on. It was not like answering multiple-choice questions," he argues. The present idea is to allow students to sign up for the CPT after their Class X. But only after their plus two, will students be able to appear for the Test.

Best system


There are many chartered accountants who feel that the 1992 system is the best; of course with necessary curricular changes to help the CA find his footing in a globalised economy.

Moreover, the 1992 system also generated a large pool of skilled students who, though they were not chartered accountants, could find gainful employment as accounts or other middle management positions.

Now, argue many chartered accounts, that talent pool is no longer there; the demand for such skills is very much there."

Answer 2

You will have to appear for CPT - Common Proficiency Test

Answer 3

Kindly consider below mentioned points -

* Remember you will have to get at least 30% in all subject. Generally CPT students leave Math & statistic totally, but you cannot do so as 30% rule is applicable.

* Accounting is the scoring subject for CPT exam. If your account is well then your chances of cracking CPT is very high.

* In economics 1st complete Macroeconomics then go for micro economics. Macro Economics is also very scoring.

* Prepare Mercantile Law thoroughly. Because it was the only scoring subject after accounts. Contract Act is important one.

* 1st complete Macroeconomics then go for micro economics. Macro Economics is also very scoring.

* In Mathematics, first do the easy chapters which you had learned in school during 8, 9, and 10; In Statistics, don’t miss Differentiation and integration, Correlation and regression and theoretical distribution as these are the important one.

Hope this will help!

Answer 4

Central Polytechnic

Answer 5

As MAJ Kev suggested...he's noticeably a lot carried out. he is going to get a GOMOR maximum probable. they might enable him to stay till he gets surpassed over for promoting (which is going to take place) adequate cases earlier getting booted.

Answer 6

www.icai.org