CA-CPT-COmplete-Course-Guide

CA CPT Dec 2018 Examination Complete Guide

Students are very much aware that CA CPT (Common Proficiency Test) is an entry-level examination in the Chartered Accountancy Course. This has been referred as an entrance exam in CA course which tests the student’s basic knowledge that whether they are eligible to pursue Chartered Accountancy or not. The exam for the CA CPT held twice in a year June and December for which result gets declared within one month from the date of Examination.

Note - Students shall note that CA CPT has been replaced by CA Foundation which is a part of new curriculum implemented by ICAI w.e.f 1st July 2017. The registration for CA CPT has been ceased and ICAI has allotted a particular number of attempts (till June 2019) for the students who are already registered with ICAI through the old course. Students who would not be able to crack CA CPT till the last attempt of this examination has to mandatorily convert themselves for the new course i.e. CA Foundation.

Hence, you have only two attempts left to crack the entrance level with the old course. Today’s article has been written to share with you a complete guide related to CA CPT which includes its syllabus, exam pattern, passing percentage requirement, exam fee, procedure, and timetable as well.

So Let’s start with CA CPT Exam Eligibility -

The candidate who has registered himself/herself with the ICAI after class 10th and also completed the 12th standard are eligible to appear in CA CPT Dec 2018 Examination.

CA CPT Exam Date -

Institute of Chartered Accountants of India has declared the CA CPT Examination date for Dec 2018 attempt by the notification dated 25th July 2018. According to such notification, the next exam for CA CPT will be held on Sunday, 16th December 2018 in two sessions as given below -

First Session

(i.e. Morning Session)

10.30 AM to 12.30 PM (IST)

Section A - Fundamentals of Accounting

Section B - Mercantile Laws

Second Session

(i.e. Afternoon Session)

2.00 PM to 4.00 PM (IST)

Section C - General Economics

Section D - Quantitative Aptitude

CA CPT Application Form -

The same notification issued by ICAI also stated the date of Application form for CA CPT Dec 2018 attempt. The applicants who wish to appear in upcoming CA CPT attempt shall submit an application form online at icaiexam.icai.org.

ICAI will start accepting the application forms from 4th Oct 2018 and will last on 25th Oct 2018 without late fees. The students can also submit the application forms till 1st Nov 2018 by making the payment of late fees.

The forms submitted after 25th Oct 2018 shall be accompanied with the late fee of Rs 600/-.

CA CPT Examination Fees -

The candidates shall have to make the payment of examination fees while submitting the CA CPT Application Form. The applicant can make the payment online by using either VISA or MASTER Credit / Debit Card / Rupay Card / Net Banking.

Indian CentersINR 1000/-
Kathmandu CentersINR 1700/-
Centers in Abu Dhabi, Doha, Dubai & MuscatUS $300/-

CA CPT Exam Pattern -

CA CPT is a complete objective based test comprises of four subjects - Fundamentals of Accounting, Mercantile Law, General Economics and Quantitative Aptitude. As we have already discussed above, that CA CPT test conducts into two sessions of 2 hours each, two subjects are taken in the first half and remaining two in next half. Candidates are also given a break in between both the sessions.

Further, the test also contains negative marking. For each correct answer, you will be given one mark and for each wrong answer, ¼ mark will get deducted.

ICAI conducts CA CPT total of 200 marks out of which students need to obtain 30% marks in every individual subject and 50% marks in aggregate of all the subjects to qualify this exam.

Marking Pattern of Each Subject is as follows -

Subjects Maximum Marks
Sec A - Fundamentals of Accounting60 Marks
Sec B - Mercantile Laws40 Marks
Sec C - General Economics50 Marks
Sec D - Quantitative Aptitude50 Marks

CA CPT Application Form Procedure -

Here we are sharing with you a stepwise procedure to fill your CA CPT Application Form -

  1. Click on the given below link which will directly land you on the ICAI official page from where you can fill the CA CPT Application form.
  2. The candidates who are not registered with the ICAI have to get themselves register first and registered students can directly login their account.
  3. Here you will get a link “Apply Now” for CA CPT Dec 2018 Exam. Click on the given link.
  4. Fill the credentials asked in the form say it details of examination, exam center etc.
  5. After filling the credentials, click on the preview button to verify your details.
  6. To make any edit, click on the “Back to Form” but if you are satisfied click on the “Final Submit” button to submit your CA CPT Application Form 2018.
  7. Now, the last step is to make online payment of Examination Fee. After submitting your application, the system will direct you to the payment window.
  8. Once, you make the payment of examination fee, the system will automatically generate an acknowledgment for submission of application form.

CA CPT Syllabus For Dec 2018 -

Section A: Fundamentals of Accounting ( 60 Marks )

Objective:

To develop a conceptual understanding of the fundamentals of financial accounting system.

Contents

  1. Theoretical Framework(i) Meaning and Scope of accounting

    (ii) Accounting Concepts, Principles and Conventions

    (iii) Accounting Standards – concepts, objectives, benefits

    (iv) Accounting Policies

    (v) Accounting as a measurement discipline – valuation principles, accounting estimates

  2. Accounting ProcessBooks of Accounts leading to the preparation of Trial Balance, Capital and revenue expenditures, Capital and revenue receipts, Contingent assets and contingent liabilities, Fundamental errors including rectifications thereof.
  3. Bank Reconciliation Statement
  4. InventoriesBasis of inventory valuation and record keeping.
  5. Depreciation accountingMethods, computation and accounting treatment of depreciation, Change in depreciation methods.
  6. Preparation of Final Accounts for Sole Proprietors
  7. Accounting for Special Transactions(a) Consignments

    (b) Joint Ventures

    (c) Bills of exchange and promissory notes

    (d) Sale of goods on approval or return basis.

  8. Partnership AccountsFinal accounts of partnership firms – Basic concepts of admission, retirement and death of a partner including treatment of goodwill.
  9. Introduction to Company AccountsIssue of shares and debentures, forfeiture of shares, reissue of forfeited shares, redemption of preference shares.

Section B: Mercantile Laws ( 40 Marks )

Objective:

To test the general comprehension of elements of mercantile law

Contents

  1. The Indian Contract Act , 1872: An overview of Sections 1 to 75 covering the general nature of contract , consideration , other essential elements of a valid contract , performance of 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.
  1. The India Partnership Act, 1932: General Nature of Partnership – Rights and duties of partners – Registration and dissolution of a firm.

Section C: General Economics ( 50 Marks )

Objective:

To ensure basic understanding of economic systems, economic behaviour of individuals and organizations.

Contents

(I) Micro Economics

  1. Introduction to Microeconomics

(a) Definition, scope and nature of Economics

(b) Methods of economic study

(c) Central problems of an economy and Production possibilities curve.

  1. Theory of Demand and Supply

(a) Meaning and determinants of demand, Law of demand and Elasticity of demand ─ Price, income and cross elasticity

(b) Theory of consumer's behavior – Marshallian approach and Indifference curve approach

(c) Meaning and determinants of supply, Law of supply and Elasticity of supply.

  1. Theory of Production and Cost

(a) Meaning and Factors of production

(b) Laws of Production – The Law of variable proportions and Laws of returns to scale

(c) Concepts of Costs ─ Short-run and long-run costs, Average and marginal costs, Total, fixed and variable costs.

  1. Price Determination in Different Markets

(a) Various forms of markets – Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly

(b) Price determination in these markets.

(II) Indian Economic Development

  1. Indian Economy – A Profile

(a) Nature of the Indian Economy

(b) Role of different sectors – Agriculture, Industry and Services in the development of the Indian economy, their problems and growth

(c) National Income of India – Concepts of national income, Different methods of measuring national income, Growth of national income and per capita income in various plans.

(d) Basic understanding of tax system of India – Direct and Indirect Taxation

  1. Select Aspects of Indian Economy

(a) Population – Its size, rate of growth and its implication for growth

(b) Poverty – Absolute and relative poverty and main programs for poverty alleviation

(c) Unemployment – Types, causes and incidence of unemployment

(d) Infrastructure ─ Energy, Transportation, Communication, Health and Education

(e) Inflation

(f) Budget and Fiscal deficits

(g) Balance of payments

(h) External debts.

  1. Economic Reforms in India

(a) Features of economic reforms since 1991

(b) Liberalisation, Privatisation and Disinvestment

(c) Globalisation.

  1. Money and Banking

(a) Money – Meaning and functions

(b) Commercial Banks – Role and functions

(c) Reserve Bank of India – Role and functions, Monetary policy.

Section D: Quantitative Aptitude ( 50 Marks )

Objective:

To test the grasp of elementary concepts in Mathematics and Statistics and application of the same as useful quantitative tools.

Contents

  1. Ratio and proportion, Indices, Logarithms
  2. Equations

Linear – simultaneous linear equations up to three variables, quadratic and cubic equations in one variable, equations of a straight line, intersection of straight lines, graphical solution to linear equations.

  1. Inequalities

Graphs of inequalities in two variables ─ common region.

  1. Simple and Compound Interest including annuity ─ Applications
  2. Basic concepts of Permutations and Combinations
  3. Sequence and Series – Arithmetic and geometric progressions
  4. Sets, Functions, and Relations
  5. Limits and Continuity ─ Intuitive Approach
  6. Basic concepts of Differential and Integral Calculus (excluding trigonometric functions)
  7. Statistical description of data

(a) Textual, Tabular & Diagrammatic representation of data.

(b) Frequency Distribution.

(c) Graphical representation of frequency distribution – Histogram, Frequency Polygon, Ogive

  1. Measures of Central Tendency and Dispersion

Arithmetic Mean, Median – Partition Values, Mode, Geometric Mean and Harmonic, Mean, Standard deviation, Quartile deviation

  1. Correlation and Regression
  2. Probability and Expected Value by Mathematical Expectation
  3. Theoretical Distributions

Binomial, Poisson and Normal.

  1. Sampling Theory

Basic Principles of sampling theory, Comparison between sample survey and complete enumeration, Errors in sample survey, Some important terms associated with sampling, Types of sampling, Theory of estimation, Determination of sample size.

  1. Index Numbers

Summary - In the above article, we have discussed a detailed guide on the CA CPT Exam for Dec 2018 which includes Students eligibility to appear in the Dec 2018 Exam, CA Exam date, details relevant to Application Form, Procedure to fill the form, Exam Pattern, Passing percentage requirement and syllabus as well.

Recommended Read -

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