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Changes in the CA course likely to make admission tough for students


The candidates who are aiming for a qualification in chartered accountancy (CA) from the Institute of Chartered Accountants of India (ICAI) may have to work harder, because of the new changes in the CA course. At present, the different levels of the CA course are Common Proficiency Test (CPT), Intermediate (Integrated Professional Competence) Course (IIPCC) and the final course.

The entry-level test is named Common Proficiency Test (CA CPT). The last part of the CA course is the final course, designed to impart expert knowledge in financial reporting, auditing and professional ethics, taxation, corporate laws, system control, strategic finance and advanced management accountancy.

Proposed changes in the CA course

Arrow The three new levels would be called foundation, intermediate and final.
Arrow The weightage given to some of the level 1 subject will be changed.
Arrow The paper on fundamentals of accounting, which is already there at the CPT level carrying 60 marks, will be renamed as principles and practices of accounting and will carry 100 marks as it is the core subject for the CA profession.
Arrow General English and business and commercial knowledge will also be added at the first level as new subjects, given their importance in the modern business world and preparing the CAs for tomorrow.
Arrow The foundation examination will be partly descriptive and partly objective.
Arrow The foundation exam is likely to be conducted along with intermediate and final in May and November.
Arrow In another expected change, students will have to appear for eight papers in level 2 (intermediate) under the new scheme.
Arrow The papers on business laws (60 marks), communication (20 marks) and ethics (20 marks) in level 2 may be changed to corporate laws and other laws (100 marks). Cost accounting may carry 100 marks (instead of 50).
Arrow A new paper on business economic environment (40 marks) may be added.
Arrow A new subject called financial and capital market services has been proposed in the final level to make professionals more competitive in finance-related areas.
Arrow International taxation for 30 marks may also be added in view of increasing importance of the subject in the present globalised world.
The government-approved scheme will be notified in the Gazette of India for inviting comments for 45 days.The modified scheme will be sent to the ministry of corporate affairs for final approval.The institute is expecting the changes to be implemented by November 2016.