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WISDOM ACADEMY
Chartered Accountant
CA Exams

One of the most rigorous professional courses in India, only about 8%-10% of the students passes out each time. At Wisdom Academy, our aim is to make this journey smoother for our candidates. The examination is divided into three levels, which are:

ICAI ANNOUNCEMENT (BNS-49569)
Common Proficiency Test- CPT

The four subjects at this stage are:

1. Fundamentals of Accounting
Fundamentals of Accounting – 60 marks
The main topics covered are accounting concepts, standards, policies and frameworks, accounting processes, bank reconciliation statements, depreciation accounting, inventories, accounting for special transactions, introduction to company accounts, partnership accounts and preparation of financial accounts for sole proprietors.
2. Economics
Economics – 50 marks
The main topics covered are micro economics, the theory of demand and supply, production and cost, Indian economy, price determination in different markets, money and banking, economic reforms in India.
3. Mercantile Laws
Mercantile Laws – 40 marks
Students go through The Indian Partnership Act, 1932, The Indian Contract Act , 1872 and The Sale of Goods Act, 1930.
4. Quantitative Aptitude
Quantitative Aptitude – 50 marks
This paper deals with the basic concepts of mathematics and statistics and the application of the same as quantitative tools.
IPCC

Students can take this up only after successful completion of CPT.
Graduates with more than 55% marks have been exempted from appearing for CPT and can directly apply for IPCC.
It consists of a study period of nine months.
There are seven subjects which are again divided under two groups, which are:

Group I
  • Accounting
  • Company law, Other law and Ethics
  • Cost Accounting
  • Direct Taxation
Group II
  • Advanced Accounting
  • Auditing and Assurance
  • Financial Management
  • Indirect Taxation

Students need to score 40% for each subject in order to pass and get an aggregate of 50% in each group. Teachers and mentors at Wisdom Academy provide constant support and tips apart from regular practice sessions to make sure this is possible with ease.

Final Examination

Undoubtedly, the final examination of the CA course is one of the most difficult exams in the world.
Applicants need to have passed both groups of the IPCC during the final six months of their articleship to become eligible for the finals.
Students will find that subjects here are divided into two groups of four each, such as:

Group I
Financial Reporting
This is an advanced course of study where students learn to analyse financial statements, gather knowledge about recent changes and development in the field of financial reporting and develop the ability to solve cases of financial and valuation reporting.
Strategic Financial Management
This paper teaches students to take strategic decisions based on financial management theories. Some of the topics covered are financial policy and corporate strategy, dividend decisions, security analysis, financial services in India, money market operations, etc.
Advanced Auditing and Professional Ethics
Through this course students gain expert knowledge regarding the present day practises of auditing. They study about professional ethics, audit of limited companies, special audit techniques, internal audit management and operational audit and more.
Corporate and Allied Laws
This paper enables students to be able to analyse and apply the different aspects of the Companies Act wherever an appropriate situation arises.
Group II
Advanced Management Accounting
The paper teaches about cost management, cost volume profit analysis, pricing decisions, budgets and budgetary control, transfer pricing, standard costing and variance alliance, cost management in service sector, financial decision modelling and more.
Information Systems Control and Audit
As computerised information systems are all that if left, students find this paper extremely useful when they start practising. Some of the topics covered here are information systems concepts, control objectives, risk assessment methodologies and applications, audit test of general and automated controls, etc.
Direct Tax Laws
The two main areas of study under this paper are The Income Tax Act and The Wealth Tax Act.
Indirect Tax Laws
Under Indirect Tax Laws, a student will get to know about Central Excise, Service Tax and Vat and Customs.

The passing grade for the finals is the same as IPCC. The CPT exams take place in June and December, while the IPCC and the finals in May and November every year.

What our students say!

CA FINAL
DECEMBER 2014
52 ND RANK

- Seema Rao

CA FINAL
DECEMBER 2013
58 TH RANK

- Krishna Yadav

CA IPCC
NOVEMBER 2014
35 TH RANK

- Rahul Seth

CA IPCC
MAY 2014
23 RD RANK (GOT HIGHEST 80 MARKS IN TAX)

- Mansi Malhotra

CA CPT
JUNE 2015
18 TH RANK

- Vaibhav Desai

CA CPT
JUNE 2014
17 TH RANK

- Heena Shaikh
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