Under several legislations, the Chartered Accountants are entrusted like for compulsory audit in several companies including banks, stock brokers, companies, big income tax assesses large bank borrowers and lots more. It highly depicts the confidence and trust laid by the government and society in this profession. In fact, the society has been increasingly reckoning the services of Chartered Accountants in the whole wide range of management consulting services, involving management information, control system, management accounting, financial services sector and international finance information technology. The kinds of functions played by Chartered Accountants are quite varied; some of them includes Auditing, Accounting, taxation, Cost accountancy, Special company work, Investigation, Directorship, Companies secretarial work, Trustees and Executors, Management accounting, Share valuation work and other activities. To become a good and successful Chartered Accountant, you just not require numerical liability and business insightfulness, but good communication skills, independence of thought, objectivity and integrity paired with the ability to work under loads of pressure and time deadlines.
First of all, what exactly is CPT? It is an entry level test required for Chartered Accountancy Course. Basically, it is a test comprised with four subjects i.e. Mercantile laws, Accounting, Quantitative Aptitude and General Economics. The test score is of 200 marks. The test has been divided into 2 segments of two hours each:
Besides this, Common Proficiency test is an objective type multiple choice based examination. Also, candidates will be permitted to opt for Hindi medium Question paper booklet for answering the questions. The test will be open only to those candidates, who have already registered with ICAI (Institute of Chartered Accountants) in India for the specified course and meet the requisite eligibility criteria’s.
Basically, in India, there are three levels of Chartered Accountancy courses. Common Proficiency Test is an entry-level programme. A student can appear (CPT) after appearing in the Senior Secondary Examination. The second stage is Professional Competence Course (PCC), articled training, and 100 hours of Information Technology Training (ITT). The third level is the Final Course in which students can register after clearing PCC. Students can also go through General Management and Communication Skills Course (GMSC) while undergoing Final course or after that. After passing, the final examination students are eligible to enroll with the Institute of Chartered Accountants of India to become Chartered Accountants.