To become an Accounting Technician………
>>Enrol for Common Proficiency Test (CPT) after passing Class 10 examination
>>Pass 10+2 examination and CPT Enrol for Accounting Technician Course (ATC)
>>Successfully complete 9 months of Study Course
>>Successfully complete Orientation Course of one week spanning over 35hours and covering topics, such as, personality development, communicationskills, office procedures, business environment, general commercialknowledge, etc
>>Successfully complete Information Technology Training (ITT) or ComputerTraining Programme
>>Pass Group I of Integrated Professional Competence Examination (IPCE)
Group I is composed of four papers
>>Successfully complete one year work experience under a chartered accountant in practice or in industry
>>Get ATC Certificate Designate as Accounting Technician
Scope for acquiring CA qualification, even after becoming Accounting Technician
>>Enrol in Group II of Integrated Professional Competence Course (IPCC)
>>Register as Articled Assistant for a period of 3 years
>>Pass Group II of IPCE Appear in IPCC Final Examination during last 6 months of 3 years of articled training
>>Pass both the Groups of IPCC Final examination Complete remaining period of articled training, if applicable
>>Successfully complete the Course on General Management andCommunication Skills Get
>>IPCC Final Examination Certificate Enrol as a member of ICAI and designate as “Chartered Accountant”
Saturday, January 3, 2009
Integrated Professional Competence Course
To qualify as a Chartered Accountant………
>>Enrol for Common Proficiency Test (CPT), after passing Class 10 examination
>>Pass 10+2 examination and CPT
>>Enrol for Group I or Group II or for both Group I and Group II
>>Successfully complete 9 months of Study Course
>>Successfully complete Orientation Course of one week spanning over 35hours and covering topics, such as, personality development, communicationskills, office procedures, business environment, general commercial knowledge et.
>>Successfully complete Information Technology Training (ITT) or ComputerTraining Programme Appear and pass Group I as well as Group II of Integrated ProfessionalCompetence Examination (IPCE)
>>Group I is composed of four papers and Group II is composed of three papers
>>Register as Articled Assistant for a period of 3 years, on passing either GroupI or both the Groups of IPCE
>>Get IPCE Certificate, on passing both the Groups of IPCE
>>Appear in IPCC Final Examination during last 6 months of 3 years of articled training
>>Pass Group I as well as Group II of IPCC Final Examination
>>Complete remaining period of articled training, if applicable
>.Successfully complete the Course on General Management andCommunication Skills
>>Get IPCC Final Examination Certificate
>>Enrol as a member of ICAI and designate as “Chartered Accountant”
>>Students already passed CPT but not yet registered as articled assistant till 31st January, 2009, and students who would be passing CPTexamination(s) being held in the month of December, 2008 can enrol themselves for IPCC upto 31st January, 2009, so as to be eligible to appear in the first IPC Examination to be held in November, 2009
>>Enrol for Common Proficiency Test (CPT), after passing Class 10 examination
>>Pass 10+2 examination and CPT
>>Enrol for Group I or Group II or for both Group I and Group II
>>Successfully complete 9 months of Study Course
>>Successfully complete Orientation Course of one week spanning over 35hours and covering topics, such as, personality development, communicationskills, office procedures, business environment, general commercial knowledge et.
>>Successfully complete Information Technology Training (ITT) or ComputerTraining Programme Appear and pass Group I as well as Group II of Integrated ProfessionalCompetence Examination (IPCE)
>>Group I is composed of four papers and Group II is composed of three papers
>>Register as Articled Assistant for a period of 3 years, on passing either GroupI or both the Groups of IPCE
>>Get IPCE Certificate, on passing both the Groups of IPCE
>>Appear in IPCC Final Examination during last 6 months of 3 years of articled training
>>Pass Group I as well as Group II of IPCC Final Examination
>>Complete remaining period of articled training, if applicable
>.Successfully complete the Course on General Management andCommunication Skills
>>Get IPCC Final Examination Certificate
>>Enrol as a member of ICAI and designate as “Chartered Accountant”
>>Students already passed CPT but not yet registered as articled assistant till 31st January, 2009, and students who would be passing CPTexamination(s) being held in the month of December, 2008 can enrol themselves for IPCC upto 31st January, 2009, so as to be eligible to appear in the first IPC Examination to be held in November, 2009
TRANSITION PROVISIONS FOR EXISTING STUDENTS OF PE-II/PCE
FOR CONVERSION TO INTEGRATED PROFESSIONAL COMPETENCECOURSE/ACCOUNTING TECHNICIAN LEVEL FOR EXISTING PE-II STUDENTS
>>Existing PE-II students registered by virtue of having passed Graduate Degree shall continue to appear in PE-II examination till May, 2009.
>>Existing PE-II students registered by virtue of having passed PE-I Examination cancontinue, at their discretion to appear in PE-II examination till May, 2009 or switchover immediately to existing Professional Competence Course upto 30th June, 2009 and thereafter shall be com pulsorily required to switch over to Integrated Professional Competence Course Examination [IPCC].
>>Candidates who have passed one of the groups of PE-II or PCE shall be eligible forpaper wise exemption in IPCC/ATC
>>Students of PE-II will continue to get paper wise exemption [ secured on the basis of 60% and above marks] upon conv ersion in the corresponding paper(s) of PCE/IPCC for the remaining un-expired chance(s).
>>Eligible to grant of Accounting Technician Level Certificate after passing theremaining papers of Group I of IPCC and upon completion of three years of Articlesh ip or one year work experience after passing Group I of IPCC
>>Eligible to appear in Final Examinatio n after passing remaining pa pers of Group I andGroup II of IPCC and while in last six months of Articleship
Last PE-II Examination will be held in May, 2009
>>After passing Final Examination, completion of prescribed period of Articleship andGMCS Course, students will be eligible for membership of the Institute
FOR EXISTING STUDENTS OF PCE
>>Registration to Professional Competence Course will be upto 30th June, 2009
>>Last PCE Examination will be held in November, 2012. Thereafter, all students of
>>PCE will be compulsorily required to appear in Integrated Professional CompetenceCourse Examination [IPCC] effective from May, 2013
>>Students of PCE will continue to get paper wise exemption [secured on the basis of60% and above marks] upon conversion in the corresponding paper(s) of IPCC forthe remaining un-expired chance(s)
>>Students of PCE who have passed one of the Groups will be eligible for
grant of paper wise exemption in IPCC Examination
>>Students of PCE will continue to do Articleship as per deed of Articleship already executed
>>Students of PCE after passing Group I and Group II of IPCC will be allowed to appearin Final Examination during the last six months of Articleship
>>After passing Final Examination, completion of prescribed period of Articleship and GMCS Course, students will be eligible for membership of the Institute
>>Existing PE-II students registered by virtue of having passed Graduate Degree shall continue to appear in PE-II examination till May, 2009.
>>Existing PE-II students registered by virtue of having passed PE-I Examination cancontinue, at their discretion to appear in PE-II examination till May, 2009 or switchover immediately to existing Professional Competence Course upto 30th June, 2009 and thereafter shall be com pulsorily required to switch over to Integrated Professional Competence Course Examination [IPCC].
>>Candidates who have passed one of the groups of PE-II or PCE shall be eligible forpaper wise exemption in IPCC/ATC
>>Students of PE-II will continue to get paper wise exemption [ secured on the basis of 60% and above marks] upon conv ersion in the corresponding paper(s) of PCE/IPCC for the remaining un-expired chance(s).
>>Eligible to grant of Accounting Technician Level Certificate after passing theremaining papers of Group I of IPCC and upon completion of three years of Articlesh ip or one year work experience after passing Group I of IPCC
>>Eligible to appear in Final Examinatio n after passing remaining pa pers of Group I andGroup II of IPCC and while in last six months of Articleship
Last PE-II Examination will be held in May, 2009
>>After passing Final Examination, completion of prescribed period of Articleship andGMCS Course, students will be eligible for membership of the Institute
FOR EXISTING STUDENTS OF PCE
>>Registration to Professional Competence Course will be upto 30th June, 2009
>>Last PCE Examination will be held in November, 2012. Thereafter, all students of
>>PCE will be compulsorily required to appear in Integrated Professional CompetenceCourse Examination [IPCC] effective from May, 2013
>>Students of PCE will continue to get paper wise exemption [secured on the basis of60% and above marks] upon conversion in the corresponding paper(s) of IPCC forthe remaining un-expired chance(s)
>>Students of PCE who have passed one of the Groups will be eligible for
grant of paper wise exemption in IPCC Examination
>>Students of PCE will continue to do Articleship as per deed of Articleship already executed
>>Students of PCE after passing Group I and Group II of IPCC will be allowed to appearin Final Examination during the last six months of Articleship
>>After passing Final Examination, completion of prescribed period of Articleship and GMCS Course, students will be eligible for membership of the Institute
IPCC -The way ahead!!!
The new course-IPCC (Integrated Professional Compentency Course) is being considered a welcome change my most of those related to this profession. It almost resembles to the PE I regime where in there was a ten months study gap between PE I and PE II. However a candidate needs to pass only group I of IPCC to register and commence articleship as against the requirement of passing both the groups. These announcements were made just before a batch took up exams on 14th December. So to reduce hardship for those students, ICAI has given option of either PCC or IPCC to these students.
Group I of IPCC consists of following subjects
1.Accounting
2.Law, ethics and communication
3.Income Tax.
4.Cost Accounting and Financial Management.
Group II of IPCC consists of following Subjects
5.Accounting.
6.Auditing.
7.Information Technology and Strategic Management.
Articleship period under the new scheme is 3 years and students would be allowed to take up final examination in the last 6 months of their training.(Akin to the Old final syllabus).
The most important difference in the new IPCC scheme is that a candidate can register for articleship after passing Group I on IPCC. This is especially beneficial for students who generally attempt one group at a time. The four subjects included in first group of IPCC will equip students better for audits. Also the study period of nine months will give students enough time to prepare for their audits. The most common problem in the current CPT-PCC scheme which the students faced was lack of maturity for audit and paucity of time to prepare for exams. IPCC seeks to address both the problems.
What should current batch of CPT do??
This dilemma can be found among most of the students who gave CPT this December. Whether to choose for PCC or IPCC has led to lots of confusion among students. I personally feel that IPCC is better for CPT students. Firstly, the study period of nine months ( it may extend to a year) will give time to the students to prepare for IPCC exams. In the current PCC regime, students have to immediately jump into audits for which they may not be prepared and/or matured. Also students find it difficult to manage audits and study side by side in PCC.
The completion period will almost coincide in both cases(i.e PCC or IPCC).So there may not me much loss of time. Instead of starting articleship immediately after 10+2, it would be better to gain some basic knowledge in audit and accounting domain and then start articleship.
Group I of IPCC consists of following subjects
1.Accounting
2.Law, ethics and communication
3.Income Tax.
4.Cost Accounting and Financial Management.
Group II of IPCC consists of following Subjects
5.Accounting.
6.Auditing.
7.Information Technology and Strategic Management.
Articleship period under the new scheme is 3 years and students would be allowed to take up final examination in the last 6 months of their training.(Akin to the Old final syllabus).
The most important difference in the new IPCC scheme is that a candidate can register for articleship after passing Group I on IPCC. This is especially beneficial for students who generally attempt one group at a time. The four subjects included in first group of IPCC will equip students better for audits. Also the study period of nine months will give students enough time to prepare for their audits. The most common problem in the current CPT-PCC scheme which the students faced was lack of maturity for audit and paucity of time to prepare for exams. IPCC seeks to address both the problems.
What should current batch of CPT do??
This dilemma can be found among most of the students who gave CPT this December. Whether to choose for PCC or IPCC has led to lots of confusion among students. I personally feel that IPCC is better for CPT students. Firstly, the study period of nine months ( it may extend to a year) will give time to the students to prepare for IPCC exams. In the current PCC regime, students have to immediately jump into audits for which they may not be prepared and/or matured. Also students find it difficult to manage audits and study side by side in PCC.
The completion period will almost coincide in both cases(i.e PCC or IPCC).So there may not me much loss of time. Instead of starting articleship immediately after 10+2, it would be better to gain some basic knowledge in audit and accounting domain and then start articleship.
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