Ask a Counselor

General

General

Is it necessary to undergo 100 hours ITT if some-one has already completed any recognized computer Course?

Yes, it is necessary to undergo 100 hours ITT even if somebody has already completed any recognized computer Course. This is to ensure that everybody undergoes standardized Computer Course tailor-made for CAs.

Will there be the same employment after 10 years in field of CA?

The chartered accountancy profession is growing and it has spread its value-added services in the wide panorama. In today’s globalised world, the realm of CA is increasing day by day and it is no more restricted to traditional functions of accounting, auditing and taxation. They are now expected to have a greater understanding and exposure in the fields of business finance, information technology, corporate management and so on. The opportunities for them are vast and wide. In the given scenario, the employment for CAs is going to increase in the near future. Moreover, as the Indian economy is growing at a faster pace and GDP may cross 2 Trillion US$ in near future, tremendous opportunities are going to crop up for CAs

Should we refer other books as well for our practice and study?

You should make study material including practice manual as your base. Added to this, you may practice from as many books as you like. But remember to select good text books by renowned authors rather than relying on coaching classes’ short notes, help books and guides.

Is it better to give both groups of IPCC or one group at a time?

It depends upon your capability and choice.

Why don’t we have colleges for CAs?

Basically, CA course is in distance education mode which is catering to lakhs of students spread all over the country and abroad. It is very difficult for the Institute to have its own campuses for so many students. Moreover, under the laws, the ICAI cannot establish colleges. However, the Institute has tied up with (accredited) some colleges/institutions to provide classroom coaching to its students.

I am a CPT student and facing difficulty in solving mathematics. What do I do to improve my basic mathematics?

You devote more time to solving mathematics questions. You may practice from 10 + 2 mathematics books and if need be, you may take coaching for the same.

Since we do our Final course along with articleship, we have to start with classes 1½ years prior to the final attempt. Please tell, what are the subjects wherein the syllabus may change.

CA course is a dynamic course which consists of subjects like Direct Tax Laws, Indirect Tax Laws, Corporate Laws, Financial Reporting, Strategic Financial Management etc. at the Final level. These subjects are revised/updated every year to make them contemporary; therefore it is advisable to have the latest copy of these subjects while planning for the exam. But you must start studying these subjects well in advance rather than waiting till last minute to get the latest copy and then start studying. Because once a student has prepared the subject well, then it is easy for him to understand these changes much easier and he gets sufficient time to master the subject.

How to solve the Tax paper to score good marks?

Please refer to the Booklet “How to Face CA examination?” to have an in-depth understanding of how to prepare for different subjects of the CA course. (Also hosted on the website)

Teaching methods of classes are different from methods of Institute, because of this students get confused as to which method to follow, please suggest.

The study material provided by the Institute gives you a basic framework within which you have to prepare for the exam. The classes organized by the Institute are in the nature of revisionary classes. It is assumed that you would first study from the study material and then attend these classes. That is why their nature is different from the classes organized by other institutions which may start from scratch. You may attend any of these depending on your capability and choice.

Please organize programmes for different subjects like General Knowledge, Current News about economics etc.

The various programmes like students Conventions, Elocution and Quiz Contests, Debate Competitions etc. organized by the ICAI from time in different regions all over the country, cover not only CA specific subjects but also general subjects.

I have already registered for CA Final in Nov, 2011 but my attempt will be in 2014. Is it possible to exchange old material with the new?

You have to buy the updated study material relevant for your attempt. But as stated earlier, you must start your preparation right away. You must keep yourself updated every year by reading Students’ Journal, RTP for each attempt and by the relevant material in Taxation and Law Paper with reference to relevant assessment year applicable for the particular examination attempt

Is there is any provision which allows an article to attempt CA Final exams before completion of 2½ years of practical training?

No, there is no such provision. You can attempt CA Final examination during the last six months of your practical training.

I got exemption in IPCC but I failed in one subject. What is the minimum marks should I get so that my exemption is not cancelled?

As per Regulation 37C (8) Notwithstanding anything contained in sub-regulations (1) to (7) above, a candidate who has appeared in all the papers comprised in a group/ unit and fails in one or more papers comprised in a group/ unit but secures a minimum of 60 per cent of the marks in any paper or papers of that group shall be eligible to appear at any one or more of the immediately next three following examinations in the paper or papers in which he secured less than 60 per cent marks. He shall be declared to have passed in that group/ unit if he secures at one sitting a minimum of 40 per cent marks in each of such papers and minimum of 50 per cent of the total marks of all papers of that group/ unit including the paper or papers in which he had secured a minimum of 60 per cent marks in the earlier examination referred to above. He shall not be eligible for any further exemption in the remaining paper(s) of that group/ unit until he has exhausted the exemption already granted to him in that group/ unit.

The implications of the above paragraphs are clarified below for general information of candidates:

  •  That in order to derive the benefit of this proviso, a candidate who has failed in a group/ unit, should have secured a minimum of 60 marks in any paper/s of the group.
  • That the above exemption is automatic and will be found indicated in the statement of marks issued to the candidate.
  • That the marks of 60 or more secured in one or more papers mentioned in sub-para (a) above are carried forward automatically for the immediately next three following examinations.
  • That the candidates will be declared to have passed in the said group/ unit in any one of the next three following examinations if he secures in a single sitting a minimum of 40 percent marks in each of the other papers and an aggregate of 50 percent marks. For the purpose of arriving at the aggregate as already stated in sub-paragraph (c) above, 60 marks or more secured earlier will also be taken into consideration.
  • That the exemption will be granted only when a candidate is present in all papers of the group/ unit. The candidate is not eligible for any further exemption in that group/ unit under this proviso in the next three following examination (i.e. till the validity of the exemption already granted).
Please tell us about the B.Com course from IGNOU for a CA student

The special B.Com (A&F) majoring in Accounting and Finance course is offered by IGNOU like any of its regular programmes. To complete this programme successfully, a candidate is expected to complete 32 credits worth of elective courses from IGNOU along with all the subjects of Intermediate (IPC) course. Students undergoing this course from IGNOU are exempted from studying the subjects which are part of the curriculum of Intermediate (IPC) course. For detailed course structure please see Institute’s website www.icai.org

Where can I get ICAI day to day updates?

You may visit ICAI website www.icai.org for ICAI’s updates.

I appreciate that there is no Reservation Scheme in our profession. So I hope this continues in future as well.

CA Course is open to all from any stream and with the minimum pass percentage. Any student who has passed 10 + 2 exam can appear in CPT.

Is doing the course on IFRS necessary during articleship? Will it count for our final resume or should we pursue it after clearing final.

It is not necessary to pursue an IFRS certification course during the articleship. An article can get an overview of IFRS at CA Final level in the paper of ‘Financial Reporting’. However, if a firm has assignments which require knowledge of IFRS, then the IFRS certification course may prove to be an added advantage. Yes, the IFRS certification course will count to your final resume. You may also pursue this certification course after clearing CA final.

Can you provide us with the CDs/PPTs of lectures so that we don’t have to join coaching classes as choosing one of them is really confusing.

The e-Learning programme of the Institute is at an advance stage. Very soon, PPTs of all subjects at all levels would be uploaded on the Institute’s website.

Why is the syllabus of CA not according to the practical work of a Chartered Accountant?

The syllabus of CA Course gives you the theoretical base on which practical work of CAs hinges. It may not contain fine nuances of practical life but it surely gives a framework within which a CA functions. Moreover, the practical training imparted to CA students fills the gaps left by the theoretical training. A mix of both is essential to make you a complete chartered accountant.

How should students from Science stream prepare for subjects like Accounts and Economics?

At CPT level, only the basics of Accountancy and Economics are taught and tested. The study material is written in the easy language which can be understood by a layman. Even then, if a Science stream student finds them difficult, he would have to undertake coaching in order to have a basic understanding of Accountancy and Economics. They can also study from +2 books where basics of these subjects are taught.

Nov. 2012 is the last attempt for PCC students. If student passes 1st group in Nov., 2012 what will happen to his 2nd Group?
Students who have passed one of the groups in Intermediate/ Professional Education (Examination-II)/ Professional Competence Examination will get paper wise exemption (NOT Group wise Exemption) in Intermediate (Integrated Professional Competence) Examination and have to appear and pass remaining papers in Intermediate (IPC) Examination under ‘Unit Scheme’ as given under –

UNIT SCHEME UNDER Intermediate (IPC) Examination
Intermediate (IPC) Course

DETAILS OF PAPERS IN WHICH CANDIDATES ARE REQUIRED TO APPEAR AND PASS IN ONE SITTING AS
A UNIT CANDIDATE IN IPCE

STUDENTS WHO HAVE PASSED GROUP-I
(IN INTERMEDIATE EXAMIANTION UNDER PARAGRAPH 2A OF SCHEDULE ‘B’ OR PROFESSIONAL
EDUCATION (EXAMINATION– II OR PROFESSIONAL COMPETENCE EXAMINATION )
Student to pass Group I of
Intermediate (IPC) Course has to
appear
Student to pass Group II of
Intermediate (IPC) Course has to
appear
Student to pass Both Groups of
Intermediate (IPC) Course has to
appear
UNIT – 4
Group I Paper 3 : Cost Accounting
and Financial
Management
Group I Paper 4 : Taxation
UNIT – 6
Group II Paper 7 : Information
Technology and
Strategic
Management
UNIT – 8
Group I Paper 3 : Cost Accounting
and Financial
Management
Group I Paper 4 : Taxation
Group II Paper 7 : Information
Technology and
Strategic
Management
STUDENTS WHO HAVE PASSED GROUP-II
(IN INTERMEDIATE EXAMIANTION UNDER PARAGRAPH 2A OF SCHEDULE ‘B’ OR PROFESSIONAL
EDUCATION (EXAMINATION– II OR PROFESSIONAL COMPETENCE EXAMINATION)
Student to pass Group II of
Intermediate (IPC) Course has to
appear
Student to pass Group I of
Intermediate (IPC) Course has to
appear
Student to pass Both Groups of
Intermediate (IPC) Course has to
appear
UNIT – 5
Group II Paper 5 : Advanced
UNIT – 7
Group I Paper 1 : Accounting
UNIT – 9
Group I Paper 1 : Accounting
Accounting
Group II Paper 6 : Auditing and
Assurance
Group I Paper 2 : Business Laws,
Ethics and
Communication
Group I Paper 2 : Business Laws,
Ethics and
Communication
Group II Paper 5 : Advanced
Accounting
Group II Paper 6 : Auditing and
Assurance
Maths is not needed in CA’s practice. Then why is it being tested at CPT Level?

Maths strengthens your base and trains you to deal with computational subjects like Accountancy, Financial Management, Cost Accounting etc. Therefore a basic understanding of mathematics is necessary for CAs and that is why it is being taught and tested at CPT level.

Why does not ICAI organize classes for the different CA courses in the Institute itself?

The ICAI caters to lakhs of students spread all over the country. It is very difficult to have campuses for such a large number of students. However, the Institute does organize classes for different levels in different ways like through accredited institutes and colleges, revisionary classes in branches

How many Courses we can do with CA? / Q. Can we do with CA & CS simultaneously?

In addition to CA, with the permission of Institute (by filling form 112), an article/audit assistant may do one regular course provided the classes are not held between 9.30 AM and 5.30 PM. The student will be allowed to pursue another course only on completion of the course permitted earlier and completed in all respects.

The students are advised to join graduation course either through IGNOU/NSOU/Bharathiar University/ the University of Madras or through a correspondence course or through colleges whose timings do not clash with the timing of practical training.

Practical questions/aspects we study in articleship and Final study material are quite different, there is no connection in practical & theory. Why?

The practical world is always perceived to be different from the theoretical world. In fact, both are sides of the same coin. In theory, we may not be able to envisage the practical problems which we may encounter in day-to-day life. But a good practice emerges from a strong theoretical foundation.

After passing IPCC when should we start the study of Final course?

Immediately. You should not waste even a single day in a dynamic and demanding course like CA. Moreover, you will take some time in developing an acquaintance with the subjects.

Will an article registered on 21st Dec 2011 be able to take May 2014 Final examination.

No, one should complete 2½ years of practical training as on 1st May 2014 in order to be eligible for May 2014 Final examination. He can appear for the Nov. 2014 exams

The modules do not provide us with the level of problems asked in the examination, please provide us with more questions to practise.

The Practice manual provided along with study material contains umpteen numbers of problems for your practice. Also, an attempt is made to add more and more questions to it every year. Moreover, in a professional course like CA, do not expect that questions given in the study module will be asked in the exams as they are. Exams will test your assimilation and application skills and also your ability to draw upon various aspects of the course.

I am not doing graduation, am I eligible for IAS or IPS exam on the basis of CA degree?

Chartered Accountants are eligible for admission to Civil Services Examinations conducted by UPSC for recruitment to IAS, IPS and other Group A/Group B Central Services/Posts.

I have IPCC exam in Nov. 2013? Is it possible to pass it? What should be the approach? It is possible even if we start from a scratch?

You may refer to the BOS publication “How to Face CA Examinations?” to have a greater understanding of how to prepare and approach different papers of IPCC and Final.

Have cleared IPCC first group, when can I join articleship?

Immediately after clearing IPCC 1st Group.

Why is Costing & FM syllabus very vast as compared to marks allotted to it?

The syllabus of Cost Accounting and Financial Management of IPCC Paper 3 covers fundamental concepts of Cost Accounting and Financial Management. The syllabus has been designed so as to impart basic concepts of both the papers and provide the foundation for the further building of the knowledge at the Final level. The topics are given in the syllabus commensurate with the level of knowledge expected at the IPCC level.

Is there any change in requirements for passing CPT?

From June, 2013 attempt in order to pass CPT, one needs to have 30% marks in every subject of CPT and an aggregate of 50% marks.

What is beneficial for us to attempt CPT along with 12th Standard or after completing 12th Standard?

If you want to save time, you may attempt May attempt immediately after 12th Standard examination provided you are prepared for it.

Please can you explain the 4 or 4½ years of CA Course?

A student after passing 10+2 and CPT examinations can register for Intermediate (IPC) Course and after completion of eight months of study course which also includes ITT and orientation course can write Intermediate (IPC) Examination. After passing either Group I or Both Groups of Intermediate (IPC) Examination, he can register for practical training and the period of practical training is three years. Such students are eligible to write a final examination during their last six months of articleship.

[Total period is roughly more than four years to complete CA course].

 

Registration to CPC (Common Proficiency Course) 1st October, 2012
Common Proficiency Test (CPT) held in December, 2012 3 months
CPT Result January, 2013 1 month
Registration to Intermediate (IPC) Course January, 2013
Completion of 8 months Study Course & Exam November, 2013 10 months
Result of Intermediate (IPC) Exam February, 2014 3 months
Commencement of practical training February, 2014
Eligibility to appear in Final exam November, 2016 32 months
Completion of practical training February, 2017 4 months
When will be GST applicable?

The applicability of GST cannot be commented upon at present. You would be suitably informed regarding its applicability once a bill for GST is implemented.

We don’t know anything about office management, then how we can understand strategic management of IPCC?

In office management we study maintenance of records, preparing the proposed reports, communications, documentation, keeping business records and updates, handling paperwork, a flow of work etc. which is more of clerical work. A CA is expected to take important and strategic decisions, that is why strategic management is being taught in CA course. Knowledge of office management is not a pre-requisite for learning the concepts of strategic management.

What to do if Practice Manual is not received along with study material?

You may approach your respective regional office for the same.

What is the pattern of checking the papers? Does the mood of the examiner really affect the marks obtained? Please explain.

The ICAI lays down strict guidelines for checking the papers for the examiners which they have to adhere under all circumstances. Rationally speaking, his mood has nothing to do with the marking.

Syllabus is changing, exam pattern is changing, why stipend does not increase? When will stipend increase?

The increase in stipend is under consideration.

After becoming CA, is the earning affected by the numbers of attempts given in IPCE or Final?

No, it does not affect the earnings.

After a few attempts of unsuccessful IPCC, can we register for ATC?

Yes. A student may opt ATC at any time by paying ATC registration fee of Rs. 1,000/-

What are the opportunities available to CAs?

Chartered Accountancy is a high-status profession and a passport to challenging and awarding career in industry and commerce. On becoming a CA you may have started your Independent professional practice, provide management consultancy services or you may join an industry or govt. organization and hold a responsible position. For detail information regarding career opportunities for CAs please refer to Institute’s publication “Chartered Accountancy: Global Career Endless Opportunities”.

I have completed my graduation now. I am in IPCC and not yet cleared the IPCC. Can I join the articleship?

Yes, you can enter through transitional scheme of Direct Entry scheme provided you have the requisite marks in graduation and fulfill other criterion.

Please tell about the procedure and maintenance of e-diary.

The e-Diary (Student’s Work Diary) online system aims to enhance the practical education and training of article trainees through a mechanism of capturing the work done by students, review by the principal, alerts for due dates and monitoring at the Institute level. Work Diary would maintain Training Records consisting of (a) Attendance Register including Leave Record and (b) Periodical Practical Training Record. In this regard, students may watch for an appropriate announcement regarding its implementation and operation shortly on the Institute’s website.

What steps are being taken by the ICAI to take to reduce work burden of articled assistants?

ICAI aims to groom its students into all-around personalities who are capable of working under high pressure. The more the work burden more will be your exposure to the practical environment and more will be your experience and wisdom to tackle the situation.

What if student registers for IPCC in July & for ITT in October? Should we do them together?

Yes, one can start ITT after registering for IPCC, however, one has to complete it before commencing Articleship.

Do CS professionals have any exemption/relaxation in articleship period of CA Course?

There is no exemptions/relaxation in articleship period for CS professionals.

Can CPT passed student do articleship?

No, articleship can be started after passing IPCC Group-I.

When is schedule VI applicable?

As per the notification of the MCA, revised Schedule VI is applicable for the financial statements from 1.4.2011 onwards. Students appearing in the November 2012 attempt of CA final/IPCC examination, have to prepare the financial statements of the companies as per the Revised Schedule VI only.

After becoming CA, practicing yourself is beneficial or being under another CA is beneficial?

It is a matter of personal preference.

Is it compulsory to fill the form 112 if we enroll in another course?

Yes, it is compulsory.

What does the Institute do when there are mistakes in its publications and student have to consider the same as guide?

It is requested that such mistakes are brought to the notice of the concerned department so that they may be rectified at the earliest.

What are the subjects for which we can do self study in CA Final?

It depends upon your capability and understanding power. In our opinion, you can self-study all subjects.

Tell us how to study for Final exams during articleship?

Start your preparation as soon as you register for Final Course, chalk out your timetable depending upon your capability and adhere to it. Everybody has 24 hours at one’s disposal which one has to manage on his own.

Study materials do not come in time. Kindly make provision.

It is endeavour of the Institute to provide study material well in time. There could be some delays in exceptional cases for which efforts would be made to avoid them.

Can we get e-mail addresses of BoS officials?

They are available on our website www.icai.org

Can a person become a CA without any type of tuitions or coaching?

Yes, it depends upon individual’s capability and aptitude.

Can we join articleship after attempting 2nd Group of IPCC.

No, student coming through CPT route can join articleship passing 1st Group of IPCC. It may however, be noted that students coming through direct route (i.e. through graduation/post graduation route) can join articleship straightaway on joining Intermediate (IPC).

I have passed IPCC & want to take Final exams but there is a compulsion of 2½ years articleship why it is so?

Practical training is an important part of CA curriculum which cannot be avoided under any circumstances. The purpose of practical training is to give you hand on experience which no other professional course provides. It enables you to deal with all types of practical problems which you may encounter when you become a CA

Which universities have tie-up with ICAI?

We have tie ups with Bharthiyar University, IGNOU, Madras University, Netaji Subhash University. For
details you may refer to Institute’s website www.icai.org

Is any standard deduction made while declaring result?

There is no standard deduction while declaring results. Everything depends upon your performance in the exams.

Students face many problems in practical subjects so please provide teacher to solve these problems.

You may write or talk to BOS faculty members for your subject specific problems.

When is the last attempt for PCC?

PCC’s last attempt is in November 2012.

Why is Information Technology subject introduced in CA course?

In today’s era, there is no field where the Information Technology has not penetrated and has not made its influential impact. One cannot refute its existence which effects key areas like Transportation, Employment, Health, Education, Accounting, Research, Finance to name a few. An information technology manager is responsible for the creation and implementation of a business process based information system for a client firm. A Chartered Accountant would be the ideal professional to suit the profile of an IT Manager with prior experience in diverse business processes, sound financial domain knowledge and analytical & logical mindset. In IT management, therefore, the role of a Chartered Accountant is considered to be very important and inevitable. Chartered Accountants as advisors, consultants, managers, auditors or planner play an important role in selecting, facilitating, controlling, managing, supervising and supporting proper IT
management. Thus, a CA has a role to play in each step of IT management. Once a Chartered Accountant is fully prepared to take up this opportunity, then sky is the limit.

When we are learning communication in orientation programme then why it is being taught along with Law where it is taught like a theoretical subject.

Communication skills are of fundamental importance in any profession. Therefore, teaching communication skills is an inherent part of the CA course. At IPCC, students are taught the various theoretical aspects of communication and are taught written form of communication like how to prepare deeds and documents etc.
The teaching of the ‘communication skills’ in One Day Orientation Programme, is a kind of workshop/ training, to make students well versed with the practical applicability of the important communication skills in the business environment. Both of these training, theoretical as well as a practical supplement each other.

Is it true that students who clear CA exams in first attempt get preference ICAI campus placement.

It is true that students who clear in the first attempt have an edge over students who clear in more than one attempt. Besides, your performance in the interview also counts.

Till date, the mistakes of our study material are not corrected/rectified. In that case who will help students who are not attending coaching classes?

It is requested that mistakes in study material be notified to the BOS so that corrective actions may be taken at the earliest. You may talk or write to the respective BOS faculty members if you have any doubt in any subject.

Why are the RTPs not available at chapter office in sufficient quantity and well in time.

Generally, RTPs are supplied to chapter offices in sufficient quantity and well in time. In exceptional cases, there could be delays because of technical reasons.

On the last day or the day just before the exam, how can the quick and focused revision be done so as to fetch good marks?

Please refer to the Booklet “How to Face CA examination?” to have an in-depth understanding of how to prepare for different subjects of the CA course.

Why is Economics, not included in IPCC/Final course?

This is to avoid making the course curriculum of CA course too heavy.

What is the Board doing for making the student capable and competitive in the global markets? Are we considering of including any foreign language in our course?

The Course contents of the CA course are revised from time to time to make them more contemporary. In addition, various relevant certificate courses are conducted to enable students to remain updated. In order to sharpen the presentation and communication skills, GMCS courses, various conventions, conferences and elocution contests are also conducted. As yet, there is no provision of foreign languages in ICAI curriculum

In this present situation when 2G, Satyam like cases are rising in market, Institute should start courses on social responsibility.

Corporate Social Responsibility is being taught as a part of Audit and Laws. If a separate course is started it will make the CA curriculum all the more heavy.

How to manage both groups, how to prepare for IPCC (both group) within 8 months. What are the advantages of taking both groups together?

Managing both groups of IPCC requires a proper mix of intelligence and hard work and proper time management. This you will have to judge whether you are capable of taking both groups together or not. If you have even iota of doubt then it is better to take one group at a time. You save time when you take both the groups together. Plus, You have an edge over the students who do one group at a time as it is reflected in your Curriculum Vitae (CV).

Why are CAs not recruited in Income Tax Department, Excise Dept & Custom Department as professional officers?

There departments have their own recruitment procedure which one has to adhere while applying there. Today, there are many CAs who are working in these departments.

How to write answer in theory papers especially Law?

In reference to the subject of law, while attempting practical/application oriented questions, students should
be able to pinpoint the legal points or issues involved in any statement, problem or situation given in the
question, explain the relevant legal provisions clearly, correlate the legal provisions to the given statement
or problem or situation and cite the relevant case law in support of their reasoning.
For example, the answer of the students must be divided into four categories:
I. Name of the Act and the provision by which it is governed
II. Reference of any case law, if any for the quality of the answer though not effect on the scoring of the
answer
III. Co-relation of the legal provisions to the given statement/problem in a question
IV. Conclusion

How much importance should be given to rank in CA examination?

Aiming for rank in CA exams is good as it prompts you to put in more efforts and do better than your competitors. If you are able to secure a rank, your CV will be better than others and it may help you to secure a good job also.

How far are the number of attempts taken in clearing CA examination important while going for job?

If you clear in first attempt you create a good impression on the companies which come for recruitment as it reflects your intelligence and hard work.
On the contrary, it has also been noticed that some companies give preference to candidates who clear in more than one attempt as these candidates become more seasoned and experienced in dealing with the subject area.

Please brief us about Industrial Training. Does Institute provide any industrial training placement through campus interviews?

Industrial training envisages the preparation of trainees, who intend to build their careers in industries, after becoming CAs. It is a part of the practical training of prescribed years which a student of CA course is required to undergo. The industrial training is optional and is done in any of the financial, commercial, industrial undertakings as may be specified/approved by the Council of the Institute. This training can be done only by a student who is in the final course of the CA. A minimum period of industrial training may range between 9 to 12 months during the last year of the prescribed period of practical training. The training shall be received under a member of the Institute. An agreement of training is to be entered in the approved form (Form 114). On successful completion of the training, the principal has to issue a service certificate in the approved form (Form 105).

Is Revised Schedule VI applicable in IPCC Nov 2012 exam?

Yes, it is applicable.

Is it necessary to qualify both groups of final in one attempt for good career opportunity?

It is not necessary but if you clear them in one attempt you may get an upper hand over other candidates seeking the same job.

What Courses can a person do after pursuing CA to raise his market value?

The Institute offers a number of certificate courses like Enterprise risk management, international taxation, etc. and also post qualification courses like international trade law, WTO etc. Depending upon your aptitude and requirement you do any of these courses to raise your market value.

Can we abbreviate respective words in the paper say IT Act, 1961 for income tax act 1961 instead of writing in full?

As far as possible, writing short forms and abbreviations in the paper should be avoided. But at the same time for brevity sake, there is no harm as well.

What is the way to study for qualifying CPT?

Please refer to the Institute’s publication How to Face CPT? in order to have an understanding of how to study for and attempt CPT.

Model Test paper Books 1 & 2 of CPT are not sufficient for us to study because some teachers say that we should practice from scanner.

There is no limit to study and practice. It is for your good to practice from as many sources as possible.

Don’t you think that ISCA & ITSM are really increasing the burden of students. We think ITT is sufficient.

Accepting the fact that India is a developing country, not developed, we cannot expect from the aspiring CA students that their IT-related theoretical concepts are cleared. In CA curriculum, someone may say that we may cover IT in 100 hours ITT, but again it is not possible to include all the relevant IT concepts in training only. Actually, there are two aspects of any course: one is Knowledge and another is Skills. Knowledge can be tested only by conducting the exam of theory papers, not by training. Similarly, skills can be tested by lab training. We cannot teach IT along with other subjects; e.g. the topics like Networking, DBMS, and Information System concepts, SDLC, Risk Assessment, BCP and DRP etc. cannot be taught in combination with any other subject. In addition, we should have a regard for IT as a separate subject, which is universally
accepted.

What is the benefit of being a CA when going for civil services?

Candidates possessing CA qualification are eligible for admission to the Civil Services Examination. As far as his qualifications are concerned, his wide knowledge and practical exposure in different fields may help him in dealing with his work areas more confidently. 

Explain the rules regarding General Management and Communication Skills (GMCS) as per new scheme for IPCC students?

Students who have joined practical training on or after 1st May 2012 shall be required to undergo two GMCS courses for 15 days each. First GMCS course shall be undergone during the first year of practical training and second GMCS course shall be undergone after completion of 18 months practical training but before completion of practical training.

Can timings of examinations be changed I mean can it be conducted in the morning shift.

Exams are conducted in Schools, and therefore, in order to avoid clashing of exams. timings with the schools’ teaching timings, they are held in the afternoon.

Do we need to be graduate for getting registered as a member of ICAI?

You need not be a graduate for being registered as a member.

If we get multiple degrees like CA, CS, ICWA, etc. Then can we practice all the degrees at the same point of time?

You can have multiple degrees but you can practice only one.