ICAI-CA-IPCC-May-2019-Old-Course-Syllabus-Ready-to-Download

CA IPCC May 2020 Syllabus for Old Registered Students


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In this article, we are going to share the IPCC May 2020 complete syllabus for old registered students. We have already updated you with the CA Intermediate new course applicable to students registered on or after 1st July 2017, part of the new curriculum introduced by ICAI.

With the notification, ICAI has made it clear, that students who are already registered with the old syllabus need not switch over new syllabus in May 2018. It is completely optional. However, Finance Act, 2017 and GST will be applicable for both old as well as newly registered students.

In the previous articles, we have also shared

Don’t forget to read these resourceful articles and click on the below mention link to download CA IPCC syllabus for the old registered students in PDF. Check out the download section for more useful resources.

The entire course of CA IPCC syllabus is divided into 7 papers. Have a look below –

Group 1
Paper: 1Accounting (100 Marks)
Paper: 2Business Law, Ethics and Communication (100 Marks)

 Section A: Business Law (60 Marks)

  •  Part: 1 Business Law (30 marks)
  • Part: 2 Company Law (30 Marks)

 Section B: Ethics (20 Marks)
 Section C: Communication (20 Marks)

Paper :3
Cost Accounting and Financial Management (100 Marks)  Part: 1 Cost Accounting (50 Marks)
 Part: 2 Financial Management (50 Marks)
Paper: 4 Taxation (100 Marks)

Section A: Income Tax (50 Marks)
Section B: Indirect Tax (50 Marks)
Group 2
Paper: 5
Advanced Accounting (100 Marks)
Paper: 6 Auditing and Assurance (100 Marks)
Paper: 7 Information Technology and Strategic Management  (100 Marks)

  • Section A: Information Technology (50 Marks)
  • Section B: Strategic Management (50 Marks)

IPCC Syllabus and Section-Wise Weightage

Paper 1: Accounting

ChapterContent
1A General Knowledge of the framing of the accounting standards, national and international accounting authorities, adoption of international financial reporting standards
2Accounting Standards
3Company Accounts  
4Average Due Date, Account Current, Self-Balancing Ledgers 
5Financial Statements of Not-for-Profit Organisations 
6Accounts from Incomplete Records 
7Accounting for Special Transactions 
8Issues in Partnership Accounts 
9Accounting in Computerised Environment 

Paper 2: Business Laws, Ethics, and Communication 

Part I – Business Law

ChapterContent
1Business Law
2Company Law

Part II – Ethics

ChapterContent
1Introduction to Business Ethics 
2Environment issues 
3Ethics in Workplace
4Ethics in Marketing and Consumer Protection
5Ethics in Accounting and Finance

Part III – Communication

ChapterContent
1Elements of Communication
2Communication in Business Environment 
3Basic understanding of legal deeds and documents 

Paper 3: Cost Accounting and Financial Management

Part I – Cost Accounting

ChapterContent
1Introduction to Cost Accounting
2Cost Ascertainment 
3Cost Book-keeping 
4Costing Systems 
5Introduction to Marginal Costing 
6Introduction to Standard Costing
7Budget and Budgetary Control 

Part II – Financial Management

ChapterContent
1Scope and Objectives of Financial Management
2Time Value of Money 
3Financial Analysis and Planning 
4Financing Decisions
5Types of Financing
6Investment Decisions
7Management of Working Capital

Paper 4: Taxation

Section A – Income Tax

ChapterContent
1Important definitions in the Income-tax Act, 1961 
2Basis of charge; Rates of taxes applicable for different types of assessees  
3Concepts of previous year and assessment year 
4Residential status and scope of total income; Income deemed to be received / deemed to accrue or arise in India 
5Incomes which do not form part of total income (other than charitable trusts and institutions, political parties and electoral trusts)
6Heads of income and the provisions governing computation of income under different heads 
7Income of other persons included in assessee’s total income
8Aggregation of income; Set-off or carry forward and set-off of losses
9Deductions from gross total income
10Computation of total income and tax liability of individuals
11Provisions concerning advance tax and tax deducted at source
12Provisions for filing of return of income

Section B – Indirect Taxes

ChapterContent
1Concept of indirect taxes 
2Goods and Services Tax (GST) Laws

Paper 5: Advanced Accounting 

ChapterContent
1Framework for Preparation and Presentation of Financial Statements 
2Accounting Standards
3Advanced Issues in Partnership Accounts and Issues related to accounting in Limited Liability Partnerships 

Dissolution of partnership firms including piecemeal distribution of assets; Amalgamation of partnership firms; Conversion into a company and Sale to a company.

4Company Accounts
5Accounting for Special Transactions

Paper 6: Auditing and Assurance

ChapterContent
1Auditing Concepts
2Standards on Auditing and Guidance Notes
3Auditing engagement
4Documentation
5Audit evidence
6Internal Control 
7Internal Control and Computerized Environment, Approaches to Auditing in Computerised Environment.
8Auditing Sampling 
9Analytical review procedures.
10Audit of payments
11Audit of receipts
12Audit of Purchases
13Audit of Sales
14Audit of suppliers ledger and the debtors ledger
15Audit of impersonal ledger 
16Audit of assets and liabilities
17Company Audit
18Audit Report
19Special points in audit of different types of undertakings, i.e., Educational institutions, Hotels, Clubs, Hospitals, Hire-purchase and leasin companies (excluding banks, electricity companies, cooperative societies, and insurance companies).
20Features and basic principles of government audit, Local bodies and not-for-profit organizations, Comptroller and Auditor General and its constitutional role.

Paper 7: Information Technology and Strategic Management 

Section A: Information Technology

ChapterContent
1Business Process Management & IT
2Information Systems and IT Fundamentals
3Telecommunication and Networks
4Business Information Systems
5Business Process Automation through Application software

Section B: Information Technology

ChapterContent
1Business Environment
2Business Policy and Strategic Management 
3Strategic Analysis 
4Strategic Planning 
5Formulation of Functional Strategy
6Strategy Implementation and Control 
7Reaching Strategic Edge 

IPCC Skill-Wise Paper Distribution

PaperLevel I Comprehension and KnowledgeLevel II Application
Paper 1: Accounting 5%-15% 85%-95%
Paper 2 Part 1: Business Law 40%-55% 45%-60%
Paper 2 Part 2: Ethics 80%-90% 10%-20%
Paper 2 Part 3: Communication 80%-90% 10%-20%
Paper 3 Part I: Cost Management  20%-30% 70%-80%
Paper 3 Part II: Financial Management 20%-30% 70%-80%
Paper 4A: Taxation- Income Tax 5%-20% 80%-95%
Paper 4B: Taxation- Indirect Taxes 20%-45% 55%-80%
Paper 5: Advanced Accounting 5%-15% 85%-95%
Paper 6: Auditing and Assurance 30%-55% 45%-70%
Paper 7A: Information Technology 30%-55% 45%-70%
Paper 7B: Strategic Management 30%-50% 50%-70%

Check out the Downloads Section for more Resources

Exam Pattern of IPCC Exams

‘What is the revised/latest exam pattern for IPCC Exam?’—this is the common question we receive from students, so below we are giving the detailed exam pattern for IPCC May Exam 2020 given by IPCC.  

Options for Medium of Study/ExamEnglish, Hindi
Mode of ExamOffline
Exam Duration of Each Paper3 hours (extra 15 minutes for reading question paper)
Number of Papers7
Type of QuestionObjective and Subjective
Total Marks 700 (100 for each paper)
Negative MarkingNo

English medium question papers will be in English language only. 

For Hindi medium question papers, these papers will be bilingual—Paper 2, 3, 6, 7 and Paper 1, 4, 5 will be in English only.  

Objective and subjective paper type

The following papers of the IPCC will have a 30:70 paper pattern.

Paper 2Business Laws, Ethics, and Communication
Paper 4Taxation
Paper 6Auditing and Assurance
Paper 7Information Technology and Strategic Management

In these subjects/papers, 70% of the marks will be for subjective type questions where descriptive answers must be written, while 30% of the marks will be objective type MCQs.

The MCQs carry 1 or 2 marks.

Number of 1 mark MCQs: 10–16

Number of 2 marks MCQs: 7–10

There is no negative marking in any of MCQ questions. No explanation is required for any of the MCQs.

FAQ

Ques 1. Can I change my selected medium of study for CA IPCC Exams?

Ans. ICAI gives you the option of changing your already selected medium of study/exam in the correction window which is opened after the last date of filling the application form with a late fee.

Ques 2. How many marks are needed to clear the IPCC Exam?

Ans. To be declared as passed in the IPCC Exam, you have to meet the two passing criteria—score an aggregate of 50% or above in both the groups together or one group (if a single group has opted) and a minimum of 40% marks in each paper of the 7 papers.

Ques 3. What is the exemption criteria for passing IPCC?

Ans. A student can claim an exemption if he/she scores 60% or above marks in any of the papers. For more details, you can refer to this ICAI resource.