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Home >> Courses in India >> Courses in India: Accountancy
Courses in India: Accountancy
The following section describes in detail about Accountancy course, elaborated with reference to the Courses and Eligibility, Job Opportunities, Accountancy Institutes in India and Related Web Links.
Accounting is the discipline of planning, budgeting, analyzing, verifying and interpreting of financial transaction. One who practices accountancy is called an Accountant. Skilled accountants exhibit good proficiency in maths and a sound grasp of facts and figures, inauguration, good judgment and analysis. Irrespective of the business situation the demand for financial information is increasing with the emergence of global economy.
Courses & Eligibility

The field of Accountancy is branched in to two broad streams Chartered Accountancy and Cost and Works Accountancy.

Chartered Accountancy

The Institute of Chartered Accountants of India (ICAI) is the only institute in the country conducting the Chartered Accountancy course. ICAI has launched a new curriculum shortening the course duration to 4 years and modernising the syllabus.

The steps involved to qualify as a CA by 21 years are as follows:

1. Pass class 10th Examination.
2. Register for Common Proficiency Test (CPT) with the Board of Studies of the ICAI.
3. Simultaneously, pursue school education and appear in 10+2 Examination.
4. Appear in CPT Exam.
5. After passing Senior Secondary (12th or 10+2) examination and CPT, register for:
a.Practical Training of 3 years duration.
b.Professional Competence Course (PCC)
c.Information Technology Training
6. Complete Information Technology Training of 100 hours before appearing for PCC.
7. Appear for PCC on completion of 18 months of Practical training. PCC comprise of two Groups of three papers each.
8. Undergo General Management & Communication Skills (GMCS) Course after 18 months of practical training and completion of PCC.
9. Qualify in PCC and complete 3 years of practical training to be eligible to appear in Final Examination.
10. Appear and qualify the Final Examination, which comprises of two Groups of four papers each.
11. Enroll as a member of ICAI and choose to either join employment or set up an office of your own to practice.

The updated syllabus for the CA course under new scheme is as follows:

Common Proficiency Test (CPT)

Common Proficiency Test is an entry level test for Chartered Accountancy Course. This will replace existing Professional Education (Course I) w.e.f., September 2006

Subjects covered in CPT

SESSION I (Two Sections Two hours 100 Marks)

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

SESSION II (Two Sections Two hours 100 Marks)

a) Section C: General Economics ( 50 Marks )
b) Section D: Quantitative Aptitude ( 50 Marks )

Professional Competence Course (PCC)

This is first stage of the chartered accountancy curriculum which will replace the existing Professional Education (Course II) w.e.f., September 2006.

Subjects covered in PCC

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.

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)

Final (New) Course

Subjects covered in Final (New) Course

Group I

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)

Group II

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)

Cost and Works Accountancy

A Cost Accountant is a person who offers to perform or perform services involving the costing or pricing of goods and services or the preparation, certification of cost accounting and related statements. The statutory Institute of the country that imparts education and conducts qualifying examination for Cost & Management Accountants and regulates and develops the profession is ICWAI(The Institute of Costs and Works Accountants of India). The structure of the new syllabus for Cost and Works Accountancy course is as follows:

Fountain Course

Paper1: Organization & Management Fundamentals
Paper2: Accounting
Paper 3: Economics and Business Fundametals
Paper 4: Business Mathematics, Statistics

Intermediate Course

Group I

Paper 5: Financial Accounting
Paper 6: Commercial and Industrial Laws and Auditing
Paper 7: Applied Direct Taxes

Group II

Paper 8: Cost & Management Accounting
Paper 9 : Operation Management and Information Systems
Paper 10: Applied Indirect Taxes

Final Course

Group III

Paper 11:Capital Market Analysis & Corporate Laws
Paper 12: Financial Management & International Finance
Paper 13:Management Accounting -Strategic Management
Paper 14:Indirect & Direct - Tax Management

Group IV

Paper 15: Management Accounting Enterprize Performance Management
Paper 16: Advanced Financial Accounting & Reporting
Paper 17: Cost Audit & Operational Audit
Paper 18: Business Valuation Management

Job Opportunities

Accounting jobs are available in business sector like banking, media, public service, manufacturing, advertising financial consultancies etc. Chartered Accountants and cost And Works Accountants find jobs in industry private consultancies and government service.

Accountancy Institutes in India

1. The Institute of Chartered Accountants of India (ICAI)

ICAI Bhawan, Indraprastha Marg, Post Box. No. 7100, New Delhi - 110 002
Telephone: EPABX (011) 39893989.
Website: http://www.icai.com

Regional Offices: Mumbai, New Delhi, Kanpur, Kolkata and Chennai.

2. The Institute of Cost And Works Accountants of India (ICWAI)

12, Sudder Street, KolKata - 700 016
Phone: 033-2252 1031/34/35,22521602, 22521492
Fax: 91 33 2252 7993 / 91 33 2252 1026
Website: http://www.myicwai.com

Regional Offices: Kolkata, Chennai, Delhi and Mumbai.
Institutes in India

The following are the state wise list of the Accountancy Institutes in India.
Andhra PradeshChandigarh
KeralaMadhya Pradesh
Uttar PradeshWest Bengal
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