CPT is an objective test with 1/4th negative mark for a wrong answer. A student has to attempt two sets of paper.
SESSION I (Two hours- 100 Marks)
Section A: Fundamentals of Accountancy (60 Marks)
It consist of introduction to accounting, Accounting principles & standards, Bank Reconciliation Statements, Consignment & Joint ventures, The Partnership accounts and Company accounts. Section B Mercantile Law (40 Marks)
It covers the entire mercantile law i.e. The Contract act, The Sale of goods act, and The Partnership Act.
SESSION II (Two hours- 100 Marks)
Section C: General Economics (50 Marks)
It is a mix of micro and macro economics covering introduction to micro economics, theory of demand & supply, production & cost, price determination in different markets, profile and aspects of Indian economy, economic reforms in India and Money & banking. Section D: Quantitative Aptitude (50 Marks)
It is a blend of Mathematics and Statistics including ratio & proportion, differentiation, integration, AP GP, sets, functions and relation, correlation, regression, index numbers, probability, theoretical distribution and sampling.
IPCC
Group I (Two hours- 100 Marks)
PAPER I: Accounting ( Maximum Marks 100)
It cover General knowledge of the framing of the accounting standards, national and international accounting authorities, adoption of international financial reporting standards, Accounting Standards-1, 2, 3, 6, 7, 9, 10, 13 and 14, company accounts, Self-balancing ledgers, Financial Statements of Not-for-profit-organization, Accounts from incomplete records, Accounting for special transactions, issue in partnership accounts and accounting in computerized environment.
PAPER II: Law,Ethics and Communication Maximum Marks 100
This paper has been divided in three parts:
Law (60 Marks)-
covers the practical application of business law including Indian Contract act, Negotiable instrument act, Payment of bonus act etc and provisions of company law covering The Companies Act from section 1 to 197
Ethics (20 Marks)
provides understanding of ethical issues in business including environmental issues, ethics in workplace, Marketing & Consumer protection and Accounting & Finance.
Communication (20 Marks)
covers development of behavioral skills and communication relating to business covering elements like Communication, Communication in Business environment and basic understanding of legal deeds and documents.
PAPER III: Cost Accounting and Financial Management Maximum Marks 100
This paper has been divided in two parts:
Cost accounting (50 Marks):
covers the concepts and processes to determine the product cost like material, labors, overheads, process costing, contract costing etc and includes marginal costing and standard costing for decision making
Financial Management (50 Marks):
cover the topics relating to capital investment and financing decisions like capital budgeting, cost of capital, capital structure decisions and working capital management.
PAPER IV: Taxation Maximum Marks 100
This paper has been divided in two parts:
Income tax (75 Marks):
covers the income under five heads namely salaries, house property, capital gains, profit and gain from business and profession and other sources
Service Tax and VAT (25 Marks):
cover the provisions of service tax like payment of service tax and filling of returns and concepts of Value Added Tax.
Group II
PAPER V:Advanced Accounting Maximum Marks 100
It cover Conceptual framework for preparation & presentation of financial statements, Application of accounting standards 4,5,11,12,16,19,20,26 and 29, Cases relating to company accounts, advanced issues in partnership accounts and accounting for special transactions. PAPER VI:Auditing and Assurance Maximum Marks 100
It cover Generally Accepted Auditing Procedures, techniques and skills like verification and vouching of assets & liabilities, company audit, auditing standards needed to understand the objective and concepts of auditing and to apply them in audit and attestation processes.
PAPER VII: Information Technology and Strategic Management Maximum Marks 100
This paper has been divided in two parts:
Information technology (50 Marks):
covers an introduction to computers, Data base management systems, computer networks and network security, internet & other technologies and decision tree flow charts
Strategic Management (50 Marks):
covers business environment and strategies of business like Strategic Analyses, Strategic Planning, Implementation & control etc.
Statutory audit
Internal audit
Compulsory tax audit
Certification and audit
FINAL
Group I
PAPER I FINANCIAL REPORTING Maximum Marks 100
It covers Accounting Standards, Accounting Standards Interpretations, Applications of IFRS (International Financial Reporting Standards) and US GAAP, Corporate Financial Reporting, Accounting for Corporate Restructuring, Consolidated Financial Statements of Group Companies, Accounting and Reporting of Financial Instruments, Share based payments, Financial Reporting by Mutual funds, Non-banking finance companies, Merchant bankers, Stock and commodity market intermediaries and Valuation.
PAPER II STRATEGIC FINANCIAL MANAGEMENT Maximum Marks 100
It comprises of Financial Policy and Corporate Strategy, Project Planning and Capital Budgeting, Leasing decision including cross border leasing, Dividend Decisions, Security Analysis, Portfolio Theory and Asset Pricing, Financial Services in India, Money Market operations, Foreign Exchange Exposure and Risk Management and Mergers, Acquisitions and Restructuring.
PAPER III ADVANCED AUDITING AND PROFESSIONAL ETHICS Maximum Marks 100
It gives knowledge of current auditing practices and procedures including Auditing Standards, Statements, Audit strategy, planning and programming, Risk Assessment and Internal Control, Audit under computerized information system (CIS) environment, Special audit techniques, Audit of limited companies and Professional Ethics.
PAPER IV:CORPORATE AND ALLIED LAWS Maximum Marks 100
This paper has been divided in two parts:-
Section A:Company Law (70 Marks)
Covers the entire provisions and Rules & Regulations of The Companies Act 1956 comprising topics like Accounts and audit, Dividend, Directors - powers, managerial remuneration, Meetings, powers of the Board and related party transactions, Inspection and Investigation, Compromises, Arrangements and Reconstructions, Prevention of Oppression and Mismanagement, Revival and Rehabilitation of Sick Industrial Companies, Corporate Winding up and Dissolution, Producer Companies, Companies incorporated outside India, Offences and Penalties, E-governance and Corporate Secretarial Practice – Drafting of Resolution, Minutes, Notices and Reports.
Section B:Allied Laws (30 Marks)
It has The Securities and Exchange Board of India Act,1992, The Securities Contracts (Regulation) Act, 1956, The Foreign Exchange Management Act, 1999, The Competition Act, 2002, The Banking Regulation Act, 1949, The Prevention of Money Laundering Act, 2002
Group II
PAPER V: ADVANCED MANAGEMENT ACCOUNTING Maximum Marks 100
It gives an insight of various management accounting techniques for planning, decision making and controlling. It comprises of Cost Management, Cost Volume Profit Analysis, Pricing Decisions, Budgets and Budgetary Control, Standard Costing and Variance Analysis, Transfer pricing
PAPER VI: INFORMATION SYSTEMS CONTROL AND AUDIT Maximum Marks 100
It relates to the laws and standards in computerized Information system and includes Information Systems Concepts, Systems Development Life Cycle Methodology, Control objectives, Audit Tests of General and Automated Controls, Risk assessment methodologies and applications, Business Continuity Planning and Disaster recovery planning.
PAPER VII: DIRECT TAX LAWS Maximum Marks 100
This paper has been divided in two parts:
The Income-tax Act, 1961 and Rules there under (90 marks)
The Wealth-tax Act, 1957 and Rules there under (10 marks)
It contains complete provisions of direct tax laws used in practical application
PAPER VIII: INDIRECT TAX LAWS Maximum Marks 100
This paper has been divided in three parts:
Central Excise (40 marks) It covers Rules, Circulars and Notifications related to Central Excise Act, 1944 and Central Excise Tariff Act, 1985
Service tax & VAT (40 marks) It covers complete set of Rules, Circulars and Notifications related to service tax as contained in the Finance Act, 1994 and Value Added Tax
Customs (20 marks) It covers Rules, Circulars and Notifications related to Customs Act, 1962 and Customs Tariff Act, 1975
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