How to be a Chatered Accountant

CPT Test: Common Proficiency Test(CPT) is the entrance exam to be a Chartered Accountant. The CPT exam is conducted by the Institute of Chartered Accountants of India(ICAI) every year twice. This is one of the prestigious posts in India.

What is your Eligibility Criteria needed for CPT Exam?

You either passed or appeared in the higher secondary level should be your criteria.

Who are exempted from appearing in CPT?

Candidates who are graduate or postgraduate in Commerce having secured in aggregate a minimum of 55% total marks or its equivalent from any recognized University.

What is the Exam pattern of CPT Exam?

First of all the CPT Exam is in Pencil-Paper mode. It is 4 hours duration test comprising of two sessions of 2 hours each with a break between two sessions. The test is objective type pattern with negative marking for one wrong answer.
In order to pass the CPT test, you have to score at one sitting minimum of 30% marks in each section and a minimum of 50% marks in aggregate of all sections.

How the CPT Exam is conducted into two sessions?

First session: Section-A Fundamentals of Accounting
Section-B Merchantile Laws
Second session: Section-C General Economics
Section-D Quantitative Aptitude
Section-A Fundamentals of Accounting(60 marks)
Section-B Merchantile Laws(40 marks)
Section-C General Economics(50 marks)
Section-D Quantitative Aptitude(50 marks)

What are the levels of ICAI Exam?

1)Common Proficiency Test
3)Intermediate(Integrated Professional Competence)Examination
4)Final Examination
This exam is conducted online in 192 cities in India and 5 abroad.

What are the five abroad places?

1)Abu Dhabi

What are other Institutes in India that offer CPT Entrance exam?

1)ICAI and its branches
2)Adruka Institute of Professional Studies, Kachiguda(A.P)
3)J.G College of Commerce, Ahmedabad
4)Allahabad Degree College, UP
5)Agarwal P.G College, Haryana
6)A.V.S College of Arts and Commerce, Salem

What is the Syllabus of CPT Exam?

Fundamentals of Accounting:-
1)Theoretical Framework
2)Accounting for Special Transactions
3)Partnership Accounts
4)Preparation of Final Accounts for Sole Proprietors
5)Accounting Process
6)Introduction to Company Accounts
7)Bank Reconciliation Statement
8)Depreciation accounting
Mercantile Laws:-
1)The Indian Contract Act, 1872: An overview of Sections 1 to 75 covering the general nature of the contract, consideration, other essential elements of a valid contract, performance of a contract and breach of contract
2)The Sale of Goods Act, 1930: Formation of the contract of sale – Conditions and Warranties – Transfer of ownership and delivery of goods – Unpaid seller and his rights
3)The Indian Partnership Act, 1932: General Nature of Partnership – Rights, and duties of partners – Registration and dissolution of a firm
General Economics:-
1)Micro Economics
2)Introduction to Micro Economics
3)Price Determination in Different Markets
4)Indian Economic Development
5)Money and Banking
6)Indian Economy – A Profile
7)Select Aspects of Indian Economy
8)Economic Reforms in India
9)Theory of Demand and Supply
10)Theory of Production and Cost
Quantitative Aptitude:-
1)Ratio and proportion, Indices, Logarithms
3)Measures of Central Tendency and Dispersion
4)Correlation and Regression
5)Theoretical Distributions
6)Sampling Theory
7)Index Numbers
9)Simple and Compound Interest including annuity – Applications
10)Basic concepts of Permutations and Combinations
11)Sequence and Series – Arithmetic and geometric progressions
12)Sets, Functions, and Relations
13)Limits and Continuity Intuitive Approach
14)Basic concepts of Differential and Integral Calculus
15)The statistical description of data