CA CPT i.e. the Chartered Accountant Common Proficiency Test has to be cleared to enter the entry level i.e. the first level at which a student can start pursuing the Chartered Accountancy (professional accounting) course. It is conducted by the Institute of Chartered Accountants of India (ICAI) for admitting students to the Chartered Accountancy course.
Eligibility to take CA CPT:
The syllabus for Chartered Accountant Common Proficiency Test (CA CPT) comprises of basic knowledge in fundamental of Accounting, mercantile law, general economics and quantitative aptitude. Topics in each subject are given below.
Accounting: Theoretical Framework, Bank Reconciliation Statement, Accounting Process, Introduction to Company Accounts, Partnership Accounts, Accounting for Special Transactions, Preparation of Final Accounts for Sole Proprietors, Depreciation accounting, Inventories.
Mercantile Law: The Indian Contract Act, 1872, the Sale of Goods Act, 1930 and the India Partnership Act, 1932.
General Economics: Economic Reforms in India, Select Aspects of Indian Economy, Indian Economy – A Profile, Price Determination in Different Markets, Theory of Production and Cost, Theory of Demand and Supply, Micro Economics.
Quantitative Aptitude: Sampling Theory, Theoretical Distributions, Probability and Expected Value by Mathematical Expectation, Correlation and Regression, Measures of Central Tendency and Dispersion, Statistical description of data, Basic concepts of Differential and Integral Calculus, Limits and Continuity - Intuitive Approach, Sets, Functions and Relations, Sequence and Series – Arithmetic and geometric progressions, Basic concepts of Permutations and Combinations, Simple and Compound Interest including annuity - Applications, Inequalities, Equations, Ratio and proportion, Indices, Logarithms
Bear in mind that you need to score at least 50% of the total marks i.e. at least 100 out of 200 to pass the CA CPT and gain entry into the Chartered Accountancy course. Begin your preparations well in advance. Last minute studies don’t work here. There are four subjects being tested here: Accounting, Mercantile Laws, General Economics & Quantitative Aptitude. Devote more time to the subject that you find harder. Do not, however ignore the other subjects. Take note that the marks which are allotted to each subject will not change. Prepare accordingly. Mercantile Law is the most scoring subject after Accounting. Study macro economics before micro.The topics in Quantitative Aptitude that are important include differentiation and integration, correlation and regression and theoretical distribution.
This exam is the qualifying test to enter the first level for pursuing your Chartered Accountancy course.
The CPT exams are conducted twice every year in June and December. The examinations are generally conducted on specified dates every year. The dates do not change except under extraordinary circumstances.
The next Common Proficiency Test (CPT December 2013) (Paper-Pencil Mode) of the Institute will be held on 15th December, 2013.
The Common Proficiency Test CPT June 2012 (Paper-Pencil Mode) is open only to those students who are already registered with the Institute of Chartered Accountants of India for the said course on or before 1st October, 2013 and fulfil the requisite eligibility conditions.
Last date & time for Login Creation/Submission of CPT Examination application form Online: 28th October, 2013 upto 5:30 P.M. (IST)