New updates for CA students in 2016
ICAI is working on implementing a new and improved curriculum from 2016. A committee has also been formed for the same and they are working on the changes required in the existing curriculum. ICAI said that “We are hopeful that we will able to get permission of the government to introduce CA new syllabus 2016 and once we get the permission from the government then we will able to launch CA new syllabus 2016. We would like to inform all the students for your concern, you will continue in the current scheme. Don’t get any confusion. We will give ample opportunities (Some Fixed Number of Attempts) to complete the CA exams under the current scheme. So students who are under the current scheme can complete the course under the current scheme. We will give sufficient number of attempts to complete the CA exams in old scheme . Then you will migrate to CA new syllabus 2016. So there is nothing for you to bother about whether new syllabus 2016 is applicable to you or not. As you know it is a long process and this process takes time, government approves takes time to implement. So you just focus on your current scheme.”
Changes in CPT – CPT New Syllabus/ Scheme 2016
The present entrance exam CPT (Common Proficiency Test) has changed to “Foundation Exam.”
- CPT MCQ (Multiple Choice Questions) based exam has changed to Foundation descriptive exam.
- Now you can register for CPT before 6 months. In new scheme you should register before 9 months.
- Adequate time gap is given so that students get sufficient time to study since the Foundation Course has been made descriptive. Also, there is an addition of full paper.
- Foundation Examination will be partly descriptive in nature.
- At present there are 4 subjects in CPT syllabus. In new scheme there are 6 subjects.
- ICAI has added two additional papers in Foundation exam (CPT). They are 1. General English for 50 Marks. 2. Business communication for 50 Marks.
- Duration increased from 6 months to 9 months
Number and Title of Papers:
Foundation Course: Number of Papers – 4
Paper 1: Fundamentals of Accounting (100 marks)
Paper 2: Quantitative Aptitude (100marks)
Paper 3A: Mercantile Law (60 marks)
Paper 3B: General Economics (40 marks)
Paper 4A: General English (50 marks)
Paper 4B: Business Communication (50 marks)
Two papers will be MCQ based papers.
Changes in CA IPCC – IPCC New Syllabus/ Scheme 2016
ICAI has announced some changes in CA IPCC syllabus also. Here we are providing Changes from 2016 in CA IPCC Syllabus / Scheme.At present CA IPCC exam has 7 papers. In new scheme there are 8 papers for IPCC exam and twelve months study period for Intermediate students from the date of registration for the Intermediate Course.
- Changes is in CA IPCC Cost accounting and Financial Management. Now costing and FM exam for 100 Marks. But in new scheme,Costing exam for 100 marks (Group–1),Financial Management exam for 100 marks (Group–2)
- Changes in CA IPCC Law Paper, Communication of Law paper (20 Marks) has removed from CA IPCC Law paper. Business Law (30 Marks) removed from CA IPCC.
- Marks weightage of Company Act has increased to 60 marks, Other laws is for 20 marks and Ethics for 20 marks.
- Changes in CA IPCC Tax exam. Tax paper has divided into 2 parts
- Direct Tax – 100 Marks (Group–1)
- Indirect Tax – 100 Marks (Group–2)
- Information Technology and Strategic Management Paper removed from CA IPCC (Group–2) completely.
Number and Title of Papers:
Intermediate Course: Number of Papers – 8
Paper – 1: Accounting (100 marks)
Paper – 2: Company Law, Other Laws and Ethics (100 marks)
Part – I: Company Law (60 marks)
Part – II: Other Laws (20 marks)
Part – III: Ethics (20 marks)
Paper – 3: Cost Accounting (100 marks)
Paper- 4: Direct Taxes (100 marks)
Paper – 5: Advanced Accounting (100 marks)
Paper – 6: Auditing and Assurance (100 marks)
Paper – 7: Financial Management (100 marks)
Paper – 8: Indirect Taxes (100 marks)
Changes in CA Final – Final Syllabus/ Scheme 2016
ICAI has announced some changes in CA Final syllabus/ scheme also. These changes in CA Final syllabus/ scheme applicable from 2016.
- In new scheme also there are 8 papers for CA Final exam.
- The subject Information Systems Control and Audit (1SCA) has removed in CA Final syllabus.
- International Taxation for 40 marks has been added in CA Final syllabus 2016 view of increasing importance of the subject in the present globalized world.
- A new subject ‘Financial Services and Capital Market’ has been included to make CA more competitive in the finance related areas.
- The nomenclature Corporate Laws and other Economic Laws has been kept to make the name more representative of the subject.
Number and Title of Papers :
CA Final Course: Number of Papers – 8
Paper – 1: Financial Reporting (100 Marks)
Paper – 2: Strategic Financial Management (100 Marks)
Paper – 3: Advanced Auditing and Professional Ethics (100 Marks)
Paper – 4: Corporate Laws and Other Economic Laws (100 Marks)
Paper – 5: Advanced Management Accounting (100 Marks)
Paper – 6: Financial Services and Capital Markets (100 Marks)
Paper – 7: Advanced Tax Management (60 Mark) and International Taxation (40 Marks)
Paper – 8: Indirect Tax Laws (100 Marks)
Integrated Course on Information Technology and Soft Skills (ICITSS)
Objective: To sharpen the technical and soft skills of CA students.
Duration: Three Weeks.
Who shall do: Students registering for the Intermediate course shall be required to do ICITSS before commencing practical training.
Assessment Test: An assessment test shall be conducted at the end of the course which the students have to qualify.
Duration of Practical Training: Three Years Commences after one completes Integrated Course on information Technology and Soft Skills (ICITSS) and passes at least Group I of Intermediate.
Commences after one completes Integrated Course on information Technology and Soft Skills (ICITSS) and passes at least Group I of Intermediate. For direct entrants coming through Graduation and Post Graduation route, the practical training commences immediately after they complete three weeks ICITSS.
Although the new course is expected to be introduced somewhere in 2016, ICAI has also previously announced that both the existing as well as new course will continue for the next few years after which ICAI will gradually shift to the new Course. The existing course students need not worry as they would be given ample time to clear their exams.
Check out here for more details about new updates for CA students in 2016
At CAKART www.cakart.in you will get everything that you need to be successful in your CA CS CMA exam – India’s best faculty video classes (online or in pen drive) most popular books of best authors (ebooks hard copies) best scanners and all exam related information and notifications.Visit www.cakart.in and chat with our counsellors any time. We are happy to help you make successful in your exams.