CA IPCC

CA IPCC

The question of how to become a Chartered Accountant is a lengthy one to answer owing to the rigorous process that a candidate needs to go through in order to achieve this certification. Known as the most popular designation for a career in Accountancy, there are different level CA examinations that one needs to qualify to earn it. CA Foundation and CA Integrated Professional Competence Course (IPCC) are two different-level Chartered Accountancy examinations organised by the Institute of Chartered Accountants of India (ICIA). CA IPCC is the secondary level exam for the students who have qualified the CA Foundation or possess equivalent qualifications. The IPCC examination takes place twice a year in the months of May and November. So, if you are planning to appear for the IPCC examination, here is a blog that aims to provide you with a comprehensive guide on the important notifications, eligibility, exam pattern and syllabus that you must know before taking the test. 

Check Out An Exclusive Guide on How to Pursue CA After Graduation!

Dates & Notifications for CA IPCC

For the CA IPCC exam 2020, the notifications have been released by the ICAI for the May session. Take a look at the following table which elucidates the datasheet of the CA IPCC May 2020:

Papers Date
Paper 1– Accounting 03-05-2020
Paper 2– Business Laws, Ethics and Communication05-05-2020
Paper 3– Cost Accounting and Financial Management 08-05-2020
Paper 4– Taxation  10-05-2020
Paper 5– Advanced Accounting 12-05-2020
Paper 6– Auditing and Assurance 14-05-2020
Paper 7– Information Technology and Strategic Management 16-05-2020

Eligibility 

For the CA aspirants, there are some mandatory eligibility requirements specified by the ICIA which they need to meet in order to apply for the exam. The official authorities holds the power to cancel the candidature of the participants in case of any discrepancy. Here is a list of prerequisites specified for the CA IPCC exam: 

  • For candidates who have attained the formal schooling of 10+2, they have to qualify for the CA Foundation examination constituted by the official body or its equivalent determined by the government.
  • For those who possess a graduate or postgraduate degree in Commerce with at least 55% or in streams similar to Commerce with 60%, they can join directly at the IPCC level.
  • Candidates studying in the final year of their undergraduate degree can also enter this level but they have to submit documents of proof stating that the completion of the course is within six months of enrollment. If they fail to provide the appropriate proof, this will lead to the cancellation of their registration without the refund of the fee amount.  

Check Out: CA Foundation Syllabus 

CA IPCC: Exam Pattern

There are 7 subjects in CA IPCC which are divided into 2 groups. Group 1 consists of 4 subjects whereas there are 3 subjects in Group 2. The weightage of the papers are different and the minimum marks to qualify in each subject is 40 our of 100 and students have to qualify the papers as well as the whole group to move onto the next level. For group 1, candidates need to score a minimum aggregate of 200 marks and for group 2 150 marks.

To help you understand the different papers under each group, here is a table that enlists the topics covered as well as the marking scheme.

CA IPCC Group 1

PaperParts Marks 
Paper 1– Accounting 100
Paper 2– Business Laws, Ethics and
Communication
Part 1– Law
Part 2– Business Ethics
Part 3– Business Communication
60
20
20
Paper 3– Cost Accounting and
Financial Management 
Part 1– Cost Accounting 
Part 2– Financial Management 
50
50
Paper 4– Taxation  Part 1– Income Tax 
Part 2– Service Tax and VAT 
50
25 + 25

CA IPCC Group 2

Paper Sections Marks 
Paper 5– Advanced Accounting 100
Paper 6– Auditing and Assurance 100
Paper 7– Information Technology and
Strategic Management 
Section A– Information Technology
Section B– Strategic Management 
50
50

CA IPCC: Syllabus

The syllabus of the CA IPCC exam is meticulously designed to gauge the skills of aspirants and evaluate their knowledge in the rigorous discipline of Accounting. There are a total of 7 subjects at this level which are bifurcated under 2 groups. The students have to clear both groups to move onto the next level. Here are some core topics covered in the 7 papers in CA IPCC:

  1. Accounting: Accounting Standards; Company Accounts; Financial Statements of Not-for-Profit Organisations; Accounting for Special Transactions, etc.
  2. Business Laws, Ethics and Communication: The Payment Bonus Act 1965; Payment of Gratuity Act, 1972; Environment and Ethics; The Companies Act, 2013; etc. 
  3. Cost Accounting and Financial Management: Cost Ascertainment; Cost Book-Keeping; Financial Decisions, Types of Financing, etc.
  4. Taxation: Income Tax; GST Laws; Input Tax Credit; Profit and Gains from Business and Profession, Capital Gains, Advanced Tax and Tax Deduction, etc.  
  5. Advanced Accounting: Advanced Issues in Partnership Accounts & Issues Related to Accounting in Limited Liable Partnerships; Company Accounts; Accounting for Special Transactions, etc. 
  6. Auditing and Assurance: Auditing Concepts, Standards on Auditing and Guidance Notes; Auditing Sampling; the Company Audit I & II; Vouching Control; Preparation for an Audit; Auditing of Assets and Liabilities 
  7. Information Technology and Strategic Management: Business Process Management & IT, Business Information System, Telecommunication and Networks; Information Systems and IT Fundamentals, etc. 

Note: The above-mentioned topics are only for indicative purposes. Students are advised to check the official website for the detailed syllabus provided by the ICAI.

Also Read: Tips to Write CA Fresher Resume  

Hence, we hope that this blog has answered your queries regarding CA IPCC and its varied essentials. If you are planning to study a degree in Accounting and don’t know where to begin, sign up for a 30-minute free career counselling with our Leverage Edu experts and let us guide you in selecting the right program and institution as well as throughout the admission process to ensure that you get successfully shortlisted.

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