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Tuesday, August 29, 2017

All about CA Foundation

By Atul Jain • 11:21 AM • 3 Comments

The Council of the Institute of Chartered Accountant of India has amended the Chartered Accountants Regulations, 1988 through the Chartered Accountants (Amendment) Regulation, 2016.
As per this amendment from july 2017 the Common Proficiency Course has been discontinued.
According to revised scheme of education and training the students are now required to clear the Foundation exam instead of CPT to enter into CA course.


Eligibility For Registration In CA Foundation Course
According to newly inserted Regulation 25E in the Chartered Accountants Regulations, 1988,
Any student who has appeared in the class 12 exam conducted by an examining body constituted by law in India.
Any student who has appeared in 10+2 equivalent exam may also register for the CA Foundation exam.

Syllabus for CA foundation Course
There are only 4 papers in CA foundation course. They are as follow :-
1st paper - Principles and Practices of Accounting (100 marks)
2nd paper - Business Mathematics and Logical Reasoning & Statistics (100 marks)
part 1 - Business Mathematics and Logical Reasoning (60 marks)
part 2 - Statistics (40 marks)
3rd paper - Mercantile Law & General English (100 marks)
part 1 - Mercantile Law (60 marks)
part 2 - General English (40 marks)
4th paper - Business Economics & Business and Commercial Knowledge (100 marks)
part 1 - Business Economics (60 marks)
part 2 - Business and Commercial Knowledge (40 marks)
NOTE:- 1st & 2nd paper will be subjective and 3rd & 4th paper will be objective.

Fees for CA Foundation Course
S. no.
Details of fees
Fees in rupees
For Foreign student US $
1
Cost of Foundation Prospectus
200
20
2
Foundation Registration Fee
9000
700
3
Subscription for Students’ Journal (For one Year) (Optional)
200
20
4
Subscription for Members’ Journal (For one Year) (Optional)
400
40

Total
9800
780

Passing criteria for CA Foundation


To clear CA Foundation every student have to get at least of 40% marks in each paper, with an aggregate of 50% in all subjects.
Latest: CA Foundation Result May 2019

Saturday, August 26, 2017

5 tips to crack CPT Exam

By Atul Jain • 11:22 AM • 0 Comments

Every year many students appear in CPT exam but only few of them are able to clear it at first attempt. For clearing CPT exam dedication with smart work is very important. Only theory preparation is not enough to crack the exam, you have to practice problems also.
There are many more things to follow to clear the exam out of which 5 most important tips are given below:-

tips to crack cpt exam


  • Always remember that you have to score at least 30% marks in each subject and overall 50% marks. You can't even think to miss out this goal.
  • In CPT exam accountancy holds a major part. For those you are good in accountancy, a chance of clearing the exam also increases. Accountancy preparation must start with theory part, after completing theory part its time to implement it, now start practicing problem questions.
  • You can't take mercantile law lightly because this subject can help you in scoring well. Mercantile law is a easy subject full of theory only, dont even think to miss any law, topic or definition. For mercantile law focus on contract act.
  • Economics is an interesting subject. Macroeconomics can help you in scoring well. First go with macroeconomics and complete it then move to microeconomics.
  • Quantitative aptitude can put you in danger if you show some carelessness towards this subject. This is a time consuming subject and it needs alot of practice. You must be clear with concepts and formulas.

Friday, August 25, 2017

Sure success mantra for CPT exam

By Atul Jain • 12:47 PM • 1 Comments

CPT is just a beginning for CA course. CPT is very first level for CA exam. Its not that much hard to clear CPT exam, any student can clear CPT exam only if he/she is clear with basic concepts. For CPT it is mandatory to be good in basic concepts. CPT is conducted twice a year in the month of june and december. You have two papers with 2 sections each and you have to score atleast 30% marks in each section with an aggregate of 50% marks.


Tips for success in CPT exam
For sure success you must be dedicated to your studies and have to do a regular basis study for CPT. Give attention to all subjects because you have to score in all subjects to clear the exam.
Here are few tips for success in exam just follow them to reach your goal-
  • Accounts covers the maximum marks of 60 marks in CPT exam, you should give more attention to accounts. If you are from commerce background you are already known to fundamentals of accounts but for those who are from non-commerce background , need to clear concepts of accounts. Practice as many problems as you can along with theory.
  • Mercantile Law is comparatively easy subject and you can easily score good marks. You don't need to give as much time to this subject, the only thing is you should be clear with all the concepts and various provisions of all Laws.
  • Economics is an interesting subject, it have two parts micro economics and macro economics. Macro economics is comparatively easy and scoring subject. You can score well in this subject if you are clear with all concepts. This subject is about national economics and government policies that affects the economy of the nation.
  • Quantitative Aptitude is a tough one. It have two portions maths and statistics, statistics is comparatively easier than maths. You need to give special attention to this subject. Make a proper plan for it and solve as much questions as you can.
  • First of all design a proper schedule for your study in advance, it will really help you out in your studies and minimize your stress. Prepare a list of important topics and weight them accordingly with the help of scanner.
  • Time management is a key factor to clear exam. You should utilize your time properly to clear CPT in first attempt. You need to allocate your time to each chapter and revision as well.  
  • Self analysis is very important to figure out that every thing is going as per plan. For self analysis it is necessary to solve mock test paper and previous year exam papers as well.
  • While revision focus on your weaker areas and try to strengthen them by dedicating more time on them. You should have a proper revision plan so you can revise accordingly and effectively. start revision 1 month prior to exam for scoring good marks.
  • While exam don't try to attempt all the questions only go for those with whom you are 100% confirm because CPT have negative marking also, you will loose 0.25 mark for every wrong answer.

Tuesday, August 22, 2017

How to apply for revaluation CA CPT / IPCC / Final marks

By Atul Jain • 12:14 PM • 0 Comments

In any case if a student is not satisfied with his marks in any of three CPT, IPCC or Final, that student can apply for revaluation of ipcc papers. With effect from November 2011 ICAI has introduced a new system of disclosing the answer sheet. Any student can also apply for disclosure and inspection of answer sheet.


Procedure for revaluation of CPT, IPCC or Final
ICAI has not fixed any standard procedure or application form for applying for revaluation in CPT, IPCC or Final. ICAI says that a simple handwritten application will be accepted, but it should be in student's own handwriting. Application must contain -
  • Name of examination
  • Roll number
  • Registration number
  • Name of paper or papers
  • Address for future communication
Student can apply for revaluation within 1 month after declaration of result. Printed application would not be accepted. If the medium of student was hindi then application should be in hindi language or if the medium was english then application should be in english language, application must be duly signed with a DD of requisite fees.
In any case if student want to apply online for revaluation then student can apply online on official site of ICAI. In case of online submission of application, student is required to scan his/her handwritten application on the official site of ICAI. In case of online submission fees would be deposited by debit card or credit card.

Fees for revaluation of CPT
If you think you got less marks in your cpt exam, your result should be higher.If you want to apply for revaluation of your CPT result then you have to pay a fees of Rs. 200.
Fees will be deposited by DD in favour of
"the Secretary,
The Institute Of Chartered Accountants Of India" and payable at delhi.

Fees for revaluation of IPCC or Final
If you got unexpected low marks in your IPCC or CA Final year result and you want to apply for revaluation for the same.
Fees for revaluation of IPCC and Final is Rs. 100 for each subject.
Fees will be deposited by DD in favour of
"the Secretary,
The Institute Of Chartered Accountants Of India" and payable at delhi.

Declaration of revaluation result
The revaluation process may take a time of 6 to 8 months but in some cases it may be longer. The result will be declared on official site of ICAI and a written communication and revised mark sheet  is also send to student at his/her mentioned address.
In any case if any student has not received any response latest upto 20 days before next exam starts can send an email to exam department @ exam@icai.org


Possible outcomes of revaluation result


If your previous result was accurate then there will be no change in marks.
Lucky students may get an increment in marks.
Unfortunately some students have to face a decrease in marks.

Refund of fees



In case of any change in marks, the revaluation fees will be automatically refunded to the student, a DD will be sent to mentioned address of student. Student is not required to make any claim for refund.
If the revaluation result is not declared before the last date of form submission for next exam, then students are advised to fill the form. Later on if you got positive result in revaluation and got passed in your exam then ICAI will refund your examination fees also.

Also Read - CA Inter pass percentage


Monday, August 21, 2017

Last minute preparation tips for CA CPT exam

By Atul Jain • 2:14 PM • 1 Comments

Last minute preparation tips for CA CPT exam
As you know CA is the toughest professional exam in India. CPT is the entry level exam to enter into CA profession. Every year lakhs of students are appearing in CPT, but only few are able to crack the exam. CPT exam is divided into four sections and aspirants are required to score atleast 30% marks in each section and an aggregate of atleast 50% marks. CPT is a paper-pencil mode of examination and held twice a year in the month of june and december.
You can easily crack this exam if you have Dedication, Determination and Devotion towards exam. Its not that much difficult to clear CPT if you have full focus over exam and you had made a full proof study plan. You add on on your efforts try these last minute preparation tips to crack cpt exam.  

Preparation Tips to crack CPT exam
  • Always keep a positive attitude, positive attitude can help you to reach at your goal and makes your preparation much easier. Just concentrate on your studies and do study well with all positive energy.
  • Keep a proper study plan with you. Make a study schedule and stick it somewhere in front of your eyes. If by any reason you miss out on your schedule on someday, try to compensate it with next day by working hard on schedule.
  • Make a topic wise list of full syllabus and weight them. Start preparing topic wise so you never miss any topic. Prepare topics with high weightage first.
  • Make a habit of studying on regular basis. Give time to your studies every day. Never skip any day without study otherwise your habit of not to study everyday can put you in danger.
  • Start preparing your own notes to study. Your own notes will help you at last moment. Things will be easy to remember by making notes.
  • At the time of revision consider your notes instead of textbooks. Your notes will help you in revising concepts from the basics.
  • Give time to self analysis, start solving mock test papers or previous year question paper. Practice atleast one exam paper everyday.
  • Start giving extra time to your weak topics. Plan your revision in such a manner that you cover one strong topic followed by a weak topic. This strategy will help you in your exam.

Tips for appearing in exam
  • Reach atleast one hour before the exam so you can avoid last minute contingency and can settled down with both mental and physical pressure.
  • First start solving easy questions instead of hard one.  All questions have same marks weightage so start with easy one.
  • Law and economics take less time. Hence in 1st paper start with Law then go to Accounts same as for 2nd paper first solve economics and then go for quant section.
  • Solve theory questions before going for practical questions because theory questions take less time as compared to practical questions. You can save time from theory questions and utilise that time for solving practical questions.
  • Never do guess work in exam, if you are confused between two options then only you can try guess work. The chance of hitting right option is very less. If you failed guessing right option you will get a negative mark for than wrong guess.


Wednesday, August 16, 2017

how to prepare CA CPT in 1 month for November 2017 attempt

By Atul Jain • 1:04 PM • 0 Comments

CPT is first step to enter into CA profession. Any student can appear in the CPT exam after completing 12th class. CPT exam is conducted in the month of June and December  which is a paper-pencil mode examination. To clear the exam students need to get at least 30% marks in each subject and overall a minimum of 50% marks.
Preparing CPT exam in 1 month is not a big deal if you are fully dedicated to your goal and studies. Student have to follow a strict strategy for completing and revising the whole syllabus. Here are some quick and simple tips to crack CPT exam.
As we know most of the students come from a science background so, accounts and economics are totally new subject to them.But there is nothing to worry about it, if they do a strategic study they can clear CPT exam within a month. Take a subject wise look over CPT November 2017 attempt .
how to prepare CA CPT in 1 month for November 2017 attempt

Accounts


Accounts is an interesting subject. Its totally new to those students who are from science background. So, first of all try to understand all its concepts along with its equation. Accounts is not an easy subject you need to dedicate 4-5 hrs per day to complete full course. You need to remember all accounting standards.Make a topic wise list and weight them accordingly and cover all the topics.

Quantitative Aptitude


In CA CPT Quantitative Aptitude is comprises with two subjects called - Mathematics and Statistics. Very first step is to make a list of all topics according to their weights. Now start preparing with topics with most weightage and cover all topics. It will give you more confidence. Give a full dedication of 3-4 hours study to this subject. Never get panic because of maths. Maths always need a calm mind to solve it.


Economics


Economics have two main components Microeconomics and Macroeconomics. Microeconomics is somewhat tougher than Macroeconomics, So you need to give more time to Microeconomics than Macroeconomics. The main requirement of Economics is to understand its concepts, once you understand its concepts it seems very easy and interesting. Give atleast 2-3 hours of daily study to this subject. With a 2-3 hour of study you can score really good marks, your study must be conceptual.


Mercantile Law


Mercantile Law is not a tough subject, its an interesting stream and you will enjoy it while reading. Devoting 1 hour per day is good enough for its preparation. Mercantile Law is referred to as most scoring subject. You can easily score 30 marks out of 40 marks in it.
Students can make their own time table for 30 days or can simple follow the most recommended time table by us.

Time Table: 10 Hours Study Plan
Time
Daily Schedule
6:00 AM
Wake Up
6 AM to 7 AM
Warm Up/Exercise
7 AM to 9 AM
Watching Video and making notes
9 AM to 9:30 AM
Breakfast
9:30 AM to 11:30 AM
Self Study
11:30 to 12:00 PM
Break – Whatsapp/FB
12:00 PM to 3:00 PM
Break – Lunch and Rest etc
3:00 to 5:00 PM
Watching Video and making notes
5:00 PM to 5:30 PM
Tea Break
5:30 PM to 7:30 PM
Self Study
7:30 PM to 8:00 PM
Relaxing
8:00 PM to 9:30 PM
Self Study
9:30 PM to 11:00 PM
Dinner and Watching TV
11:00 PM
Bed time

Saturday, August 12, 2017

ICAI direct entry scheme for graduates or post-graduates.CA Foundation exemption

By Atul Jain • 5:07 PM • 0 Comments


ICAI has introduced a new scheme for graduates or Post graduates to directly enter in CA intermediate. On 1 August 2012 ICAI launched direct entry scheme.In this scheme, ICAI provides relaxation to any graduate or post-graduate student from CA Foundation (CPT) entrance exam. There are some conditions that every student must have to fulfill those conditions to get direct entry. Characteristics of this scheme are - 

Direct entry scheme for graduates

Minimum of 55% or above of the total marks or its equivalent grade is essential for any graduate or post graduate from any recognized university (also include open university) in commerce. The applicant has to give any 3 papers out of accounting, auditing, corporate laws, economics, costing, Business Administration or Management Accounting, Mercantile Laws, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws). 

Graduate or Post graduate in any stream other than commerce required to get aggregate of 60% marks or above of the total marks or its equivalent grade in the examination conducted by any recognized University (including Open University)

Commencement of articleship under scheme

Students enrolling for CA course through direct entry scheme have to complete articleship of 3 years during the course, out of which 9 months of articleship must be done before appearing for the intermediate. Only after completing articleship of 9 months the student will be eligible for intermediate.

Provisional registration for students pursuing graduation 

Students pursuing final year can also apply for provisional registration for CA course. They can also complete ITT Course and Orientation course which is mandatorily required to be completed before starting articleship training.
Moreover, their registration will be confirmed after submission of their mark sheet and pass certificate

Registration fees

ITT course fees 4000
Orientation course fees 3000
ATC fees (optional) 1000
Article registration fees 2000
Registration for both groups 9000 

Articleship relaxation for students converted to direct entry scheme 

Students who have enrolled under CPT scheme and fulfills all criteria of direct entry scheme can convert their registration from CPT scheme to Direct entry scheme.
Such students who are converting from CPT scheme to Direct entry scheme are exempted from completion of 9 months of articleship to be eligible to appear for IPCC exam. This relaxation has been granted through the Regulation No. 205 passed on 22nd July 2015 by ICAI
If such students have secured any exemption in any subject then it would be granted to them after conversion to the Direct entry scheme