Tuesday, July 7, 2015

New Revised Scheme of Education and Training ICAI

Institute of Chartered Accountants of India has recently issued the new  training program and Education scheme for students and has asked Members & Students for their comments and suggestions. After considering all the suggestions a final scheme has been prepared by ICAI for the students willing to undergo CA course and achieve prestigious ICAI membership. The scheme has been published by ICAI and will officially come into affect after publishing it in Official Gazette. Till then the old scheme will continue for all the new students registering for the course.
 
Below is the Full scheme for Training and Education as decided by ICAI
ICAI Revised Scheme of Education and Training

STEPS TO QUALIFY CHARTERED ACCOUNTANT COURSE FOR NON-DIRECT ENTRY STUDENTS

Tuesday, June 9, 2015

CPT June 2015- Wrong Registration Number on Admit Cards

Student Registration Number of candidates who are admitted to the Common Proficiency Test(CPT) to be held on 14th June 2015. - (09-06-2015)

9th June 2015
It has been brought to our notice that the student registration number appearing on the admit cards relating to CPT June 2015 (hosted on www.icai.nic.in and in physical admit cards sent by post to those applicants who submitted the OMR exam forms) of some of the candidates is different from their registration number furnished by them in their exam forms. This error has crept in inadvertently, due to some technical problems.

The error has already been rectified in the data base of applicants for the CPT to be held on 14th June 2015. Individual communications have also been sent to all the affected candidates by way of a speed post letter as well as by emails, intimating their correct registration number.

Wednesday, February 18, 2015

ICAI Proposes New Scheme of Education and Training

Recently Institute of Chartered Accountants of India has published the New Scheme of Education and Training for Chartered Accountant Students. ICAI has also invited comments from Chartered Accountants, Students and Industry to give comment and suggestion on the new proposed CA Course. The said changes as per ICAI is necessary due to changes in Technology and Globalization.

Committee for Review of Education and Training (CRET) was formed in the year 2014, with a specific aim of formulating a new scheme for CA Education. It has formulated a New scheme and had invited comments for the same.

You can submit your response at cret@icai.in


Below is the List of all you have to know about the proposed changes:





LIST OF PROPOSED CHANGES IN CHARTERED ACCOUNTANT COURSE (EDUCATION AND TRAINING)


1. NAME CHANGES
  • Changes in Nomenclature  of CA Course
The exams will have the same three-tier structure but will have new names i.e. Foundation, Intermediate and Final. 



2. CPT RELATED CHANGES
  • Increase in number of Papers in Foundation i.e. erestwhile CPT 
Instead of 4 papers in CPT, there is an increase by 2 more papers i.e. General English and Business Communication. This move is quiet appreciable due to lack of writing and speaking skills, the industry complains in CA's


  • Not All Papers will be MCQ based in CPT
Another good change, due to MCQ type of pattern many students enter the course but are unable to crack the Intermediate Level (IPCC). By making only 2 papers MCQ and letting other papers as written, there will be a restriction on students who are not qualifies for the course.



3. IPCC RELATED CHANGES
  • Twelve Months Gap between Foundation (CPT) and Intermediate(IPCC)
The gap between CPT and IPCC will be increase by 3 more months.


  • Changes in Papers in Intermediate (IPCC)
Whereas in IPCC there will be 8 papers, due to Cost and Financial management being 2 separate papers from now on  and ITSM paper has been dropped and there will be a seperate paper of Indirect Tax and Direct Tax.

Also Business Law and Communication section has been dropped and Company law is now of full 60 marks.


4. FINAL RELATED CHANGES
  • Changes in Papers of Final
ISCA has been dropped (a sigh of relief for many students) and a new paper of Financial Services and Capital Market has been added to make CA's more competitive. Direct Tax will now include International Taxation, to make Chartered Accountant handle MNC and International Clients.

  • Students Can appear only after completing training
Now, students cannot appear in Final exams before completing training of 3 years. This will help them to have an uninterrupted practical training.


5. PRACTICAL TRAINING

NO CHANGES


6. GMCS. ITT AND ORIENTATION
These courses will be merged and a new course in the name of Integrated Course on Information Technology and Soft Skills (ICITSS) will be started. The course will happen twice in the Education program one before starting Practical training and one in last 2 years of practical training in the name of AICITSS. Duration of course is 3 weeks.




Hope this article will help you to get all proposed changes at one place. In case of any query or mistake, feel free to comment or email us at samacharca@gmail.com


CA Students Stipend Rate Increased to Rs. 2000-3000

ICAI today on 23rd of January, 2015 has increased the stipend rate given by Chartered Accountants to their CA students from Rs. 1000 to Rs. 2000 in First Year and from Rs. 1500 to Rs. 3000 in last year. The notification was must awaited as the earlier stipend rates were very low and most of the Student demanded higher rates due to Increase of their Cost of Travel and Other Expenses.
ICAI training has been a very crucial process in the CA Students life. The Institute has always tried to revamp its training and course to make it suitable for today's Global Environment. The increase of stipend was necessary during the ICAI training period so that the students belonging to Low income group can use the money to pay for their traveling and other expenses during the training period.