CA-IPCC: Overview

This is the identification for the second level of the CA (Chartered Accountancy) course conducted by the ICAI (Institute of Chartered Accountants of India). The course is identified as IPCC (Integrated Professional Competence Course) and the examination at the end of the course is identified as IPCE (Integrated Professional Competence Examination)

About Our Company:

The CA IPCC/IPCE (Chartered Accountancy – Integrated Professional Competence Course/Exam) is designed for being pursued by the students along with their graduation or higher courses. As such there is no restriction in pursuing the course along with any formal graduation or Post Graduation course.

CA-IPCC: Course Duration

Minimum – 9 months

It is the period starting from the time the student gets registered for the course, to the time the student completes the coaching and other formalities required for being eligible for appearing at the main examination at this level.

This period is a minimum of 9 months.

Minimum Requirements : Age, Academic Qualifications

Minimum Age

There is no stipulation as to the minimum age required for registering for the course.

Minimum Academic/Educational Qualifications

1. A pass in the Common Proficiency Test (CPT) conducted by ICAI
2. A pass in the Senior Secondary Examination (10+2) or Intermediation Examination or equivalent
CA-IPCC: Course Structure Pattern

The CA course at the IPCC level (Integrated Professional Competence Course)) consists of theoretical examinations as well as practical training in the form of compulsory computer course. There are 11 subjects to be studied arranged into 2 groups of 4 papers of 100 marks each in Group I and 3 papers of 100 marks each in Group II.

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CA IPCC Course Syllabus 

Paper 1: Accounting 1 IPCC Syllabus

1. A General Knowledge of the framing of the accounting standards, national and international accounting authorities, adoption of international financial reporting standards.

2. Accounting Standards

AS 1:   Disclosure of Accounting Policies
AS 2:     Valuation of Inventories
AS 3:     Cash Flow Statements
AS 6:     Depreciation Accounting
AS 7:     Construction Contracts (Revised 2002)
AS 9:     Revenue Recognition
AS 10:   Accounting for Fixed Assets
AS 13:   Accounting for Investments
AS 14:   Accounting for Amalgamations

3. Company Accounts

(a)        Preparation of financial statements – Profit and Loss Account, Balance Sheet and Cash Flow Statement
(b)        Profit (Loss) prior to incorporation
(c)        Alteration of share capital, Conversion of fully paid shares into stock and stock into shares, Accounting for bonus issue
(d)        Simple   problems   on   Accounting   for   business   acquisition,   Amalgamation   and reconstruction (excluding problems of amalgamation on inter-company holding)

4. Average Due Date, Account Current, Self-Balancing Ledgers

5. Financial Statements of Not-for-Profit Organisations

6.  Accounts from Incomplete Records

7. Accounting for Special Transactions

(a)        Hire purchase and instalment sale transactions
(b)        Investment accounts
(c)        Insurance claims for loss of stock and loss of profit.

9.  Issues in Partnership Accounts

Final accounts of partnership firms  – Admission, retirement and death of a partner including treatment of goodwill;

10. Accounting in Computerised Environment

An overview of computerized accounting system – Salient features and significance, Concept of grouping of accounts, Codification of accounts, Maintaining the hierarchy of   ledger, Accounting packages and consideration for their selection, Generating Accounting Reports.

Note :
If  either old Accounting Standards (ASs),  Announcements and Limited  Revisions to ASs are withdrawn or new ASs, Announcements and Limited Revisions to ASs are  issued   by   the   Institute   of   Chartered   Accountants   of   India   in   place   of   existing   ASs, Announcements and Limited Revisions to ASs, the syllabus will accordingly include/exclude such new developments in   place of the existing ones with effect from the date to be notified by the Institute.

Paper 2: IPCC Law Syllabus

Below I have given IPCC syllabus for Law, Ethics & Communication subject which is paper 2 for IPCC exams for May-Nov 2016. Company law is going to change in upcoming attempts for IPCC syllabus as new company’s bill has been passed already.

Business Laws (30 marks)
Acts to study in Business laws for CA IPCC are given below.
1.         The Indian Contract Act, 1872
2.         The Negotiable Instruments Act, 1881
3.         The Payment of Bonus Act, 1965
4.         The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952
5.         The Payment of Gratuity Act, 1972.

Company Law (30 marks)
The Companies Act, 1956 – Sections 1 to 197
(a)        Preliminary
(b)        Board of Company Law Administration – National Company Law Tribunal; Appellate Tribunal
(c)        Incorporation of company and matters incidental thereto
(d)        Prospectus and allotment, and other matters relating to use of shares or debentures
(e)        Share capital and debentures
(f)        Registration of charges
(g)         Management and administration  – general provisions  – registered office and name, restrictions on commencement of business, registers of members and debentures holders, foreign registers of  members  or debenture  holders,  annual  returns,  general  provisions  regarding  registers  and returns, meetings and proceedings.
(h)        Company Law in a computerized environment – e-filing.

Note:    If new legislations are enacted in place of the existing legislations, the syllabus would include the corresponding provisions of such new legislations with effect from a date notified by the Institute.

Part II: Ethics (20 marks)

Chapter to study in IPCC Ethics are mentioned below.

1.         Introduction to Business Ethics

2.         Environment Issues

3.         Ethics in Workplace

4.         Ethics in Marketing and Consumer Protection

5.         Ethics in Accounting and Finance

Part III: Communication (20 marks)

Chapters to study in IPCC communication subjects are mentioned below.

1.         Elements of Communication

2.         Communication in Business Environment

3.         Basic Understanding of Legal Deeds and Documents

Paper 3: Costing & FM IPCC Syllabus

Chapters to study in IPCC Costing & FM subject in IPCC Syllabus are mentioned in below . This subject is always tricky looking to most of the students. But as a part of IPCC syllabus, you must take it seriously.

Part I: Cost Accounting (50 marks)

Chapters for Cost Accounting for IPCC syllabus includes following chapters.

1.          Introduction to Cost Accounting

2.         Cost Ascertainment
(a)        Material Cost
(b)        Employee Cost
(c)        Direct Expenses
(d)        Overheads

3.         Cost Book-keeping

4.         Costing Systems
(a)        Job Costing
(b)        Batch Costing
(c)        Contract Costing
(d)        Process Costing
(e)        Operating Costing System

5.         Marginal Costing

6.         Standard Costing

7.         Budgets and Budgetary Control

Part II: Financial Management (50 marks)

Financial management part has following chapters as a imp part of IPCC syllabus. Generally this section of IPCC syllabus will require much, more concentration and practice to get confidence and attempt all the questions in paper.

1.         Scope and Objectives of Financial Management

2.         Time Value of Money

3.         Financial Analysis and Planning
(a)        Ratio analysis for performance evaluation and financial health
(b)        Application of ratio analysis in decision making
(c)        Analysis of cash flow statement.

4.         Financing Decisions
(a)        Cost of Capital – weighted average cost of capital and marginal cost of capital
(b)        Capital   Structure   decisions –   capital   structure   patterns,   designing   optimum
(c)        Business  risk  and financial  risk  –  operating  and financial  leverage,  trading on equity.

5.         Types of Financing

6.         Investment Decisions

7.         Management of working capital
(a)        Working capital policies
(b)        Funds flow analysis
(c)        Inventory management
(d)        Receivables management
(e)        Payables management
(f)        Management of cash and marketable securities
(g)        Financing of working capital.


Paper 4: IPCC Taxation Syllabus

Chapters included in IPCC syllabus for Taxation in old IPCC Syllabus are as mentioned below.

Part I: Income-tax (50 marks)1.         Important definitions in the Income-tax Act, 1961

2.         Basis of charge; rates of taxes applicable for different types of assessees

3.         Concepts of previous year and assessment year

4.         Residential  status  and  scope  of  total  income;  Income  deemed  to be  received  /  deemed to accrue or arise in India

5.         Incomes which do not form part of total income

6.         Heads of income and the provisions governing computation of income under different heads

7.         Income of other persons included in assessee’s total income

8.         Aggregation of income; set-off or carry forward and set-off of losses

9.         Deductions from gross total income

10.       Computation of total income and tax payable; rebates and reliefs

11.       Provisions concerning advance tax and tax deducted at source

12.       Provisions for filing of return of income.


Part II: Service tax (25 marks) and VAT (25 marks)[Applicable up to May, 2017 Examination]

Service tax (25 marks)

1.         Service tax – concepts and general principles

2.         Charge of service tax and taxable services

3.         Valuation of taxable services

4.         Payment of service tax and filing of returns

VAT (25 marks)

5.         VAT – concepts and general principles

6.         Calculation of VAT Liability including input Tax Credits

7.         Small Dealers and Composition Scheme

8.         VAT Procedures.

Note:    If new legislations are enacted in place of the existing legislations the syllabus will accordingly include the  corresponding provisions  of such  new legislations in  the  place of the  existing legislations  with  effect  from the  date to  be  notified  by the  Institute. Students shall  not  be examined with reference to any particular State VAT Law.

1.   Introduction to excise duty, customs duty, central sales tax and VAT – Constitutional aspects,
Basic concepts relating to levy, taxable event and related provisions

2.   Significant provisions of service tax

(i)       Constitutional Aspects

(ii)      Basic Concepts and General Principles

(iii)     Charge of service tax including negative list of services

(iv)     Point of taxation of services

(v)      Exemptions and Abatements

(vi)     Valuation of taxable services

(vii)   Invoicing for taxable services

(viii)  Payment of service tax

(ix)     Registration

(x)      Furnishing of returns

(xi)     CENVAT Credit [Rule 1 -9 of CENVAT Credit Rules, 2004]

Note: If new legislations are enacted in place of the existing legislations the syllabus will accordingly include the corresponding provisions of such new legislations in place of the existing legislations with effect from the date to be notified by the Institute.   Students shall not be examined with reference to any particular State VAT Law.

Paper 5: IPCC Syllabus for Advanced Accounting

IPCC accounts syllabus for paper 5 includes following chapters. IPCC syllabus for advanced accounting (paper 5) is much advance than that of IPCC syllabus for accounting (paper 1).

1.         Conceptual Framework for Preparation and Presentation of Financial Statements

2.         Accounting Standards:
AS 4 :   Contingencies and Events occurring after the Balance Sheet Date
AS 5 :   Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
AS 11:   The Effects of Changes in Foreign Exchange Rates (Revised 2003) AS 12:   Accounting for Government Grants
AS 16:   Borrowing Costs
AS 19:   Leases
AS 20:   Earnings Per Share
AS 26:   Intangible Assets
AS 29: Provisions, Contingent Liabilities and Contingent Assets.

3.         Advanced Issues in Partnership Accounts

4.         Company Accounts
(a)         Accounting   for   employee   stock   option   plan,   Buy   back   of   securities,   Equity   shares   with differential rights, Underwriting of shares and debentures, Redemption of debentures
(b)        Advanced   problems   for   business   acquisition,   Amalgamation   and   reconstruction (excluding problems of amalgamation of inter-company holding)
(c)         Accounting     involved     in     liquidation     of     companies,     Statement     of     Affairs  (including deficiency/surplus accounts) and Iiquidator’s statement of account of the winding up.
(d)        Financial Statements of B@nking, Insurance and Electricity Companies

5.          Accounting for Special Transactions

Departmental and branch accounts including foreign branches Note :

Note: If   either old Accounting Standards (ASs), Announcements and Limited Revisions to ASs are withdrawn or new ASs,    Announcements and Limited Revisions to ASs are issued   by   the   Institute   of   Chartered   Accountants   of India   in   place   of   existing   ASs, Announcements and Limited Revisions to ASs, the syllabus will accordingly include/exclude such new developments in place of the existing ones with effect from the date to be notified by the Institute.

Paper 6: Audit IPCC Syllabus

Following numbered chapters are in the ipcc syllabus for the Auditing subject.

1.       Auditing  Concepts  –

2.         Auditing and Assurance Standards – Overview, Standard-setting process, Role of International  Auditing and Assurance Standards Board and Auditing and Assurance Standards Board in India.

3.         Auditing engagement  –  Audit planning,  Audit  programme,  Control  of  quality  of  audit  work- Delegation and supervision of audit work.

4.          Documentation   –   Audit   working   papers,   Audit   files:  Permanent   and   current   audit   files, Ownership and custody of working papers.

5.            Audit evidence – Audit procedures for obtaining evidence, Sources of evidence, Reliability of audit  evidence,  Methods  of  obtaining  audit  evidence,  Physical  verification,  Documentation, Direct   confirmation,   Re-computation,   Analytical   review   techniques,   Representation   by management.

6.          Internal  Control –  Elements  of   internal  control,  Review  and  documentation,  Evaluation  of internal  control  system,  Internal  control  questionnaire,  Internal  control  check  list,  Tests  of control, Application of concept of materiality and audit risk, Concept of internal audit.

7.         Internal   Control   and   Computerized   Environment,   Approaches   to   Auditing   in   Computerised Environment.

8.         Audit Sampling – Types of sampling, Test checking, Techniques of test checks.

9.         Analytical review procedures.

10.       Audit of payments  – General considerations, Wages, Capital expenditure, Other payments and expenses, Petty cash payments, B@nk payments, B@nk reconciliation.

11.       Audit of receipts – General considerations, Cash sales, Receipts from debtors, Other Receipts.

12.       Audit of Purchases – Vouching cash and credit purchases, Forward purchases, Purchase returns, Allowance received from suppliers.

13.       Audit of Sales  – Vouching of cash and credit sales, Goods on consignment, Sale on approval basis, Sale under hire-purchase agreement, Returnable containers, Various types of allowances given to customers, Sale returns.

14.       Audit of suppliers’ ledger and the debtors’ ledger – Self-balancing and the sectional balancing system,   Total   or   control   accounts,   Confirmatory   statements   from   credit   customers   and suppliers, Provision for bad and doubtful debts, Writing off of bad debts.

15.         Audit of impersonal ledger – Capital expenditure, deferred revenue expenditure and revenue expenditure,  Outstanding  expenses  and  income,  Repairs  and  renewals,  Distinction  between reserves and provisions,  Implications of change in the basis of accounting.

16.       Audit of assets and liabilities.

17.       Company Audit – Audit of Shares, Qualifications and Disqualifications of Auditors, Appointment of  auditors, Removal of auditors, Powers and duties  of  auditors,     Branch audit, Joint audit, Special audit, Reporting requirements under the Companies Act, 1956.

18.       Audit    Report  –    Qualifications,     Disclaimers,    Adverse     opinion,     Disclosures,     Reports     and certificates.

19.       Special points in audit of different types of undertakings, i.e., Educational institutions, Hotels, Clubs, Hospitals, Hire-purchase and leasing companies (excluding b@nks, electricity companies, cooperative societies, and insurance companies).

20.       Features     and     basic     principles     of     government     audit,     Local     bodies     and     not-for-profit organizations, Comptroller and Auditor General and its constitutional role.

Note:     Candidates   are   expected   to   have   working   knowledge   of   relevant      Auditing   and   Assurance Standards issued by the ICAI with reference to above-mentioned topics.

In IPCC syllabus for audit, it’s worth to note that the language demanded by the ICAI is of the module, if you are prefering other hand book or material, then please be aware, the ipcc syllabus given in the module for auditing, is the one which ICAI give marks. I am saying this on my own experience, and ipcc syllabus of module give good mark with compare to other author books. IPCC syallbus of module is very important for all the theory subjects of IPCC.

Paper 7: IT & SM IPCC Syllabus


Section A: Information Technology (50 Marks)

1.         Business Process Management & IT
Introduction to various Business processes – Accounting, Finances, Sale, Purchase etc.,

Business Process Automation – Benefits & Risks, Approach to mapping systems : Entity

Diagrams, Data Flow Diagrams, Systems Flow diagrams, Decision trees/tables,   Accounting systems vs. Value chain automation,   Information as a business asset, Impact of IT on business processes, Business Risks of failure of IT, Business Process Re-engineering


2.         Information Systems and IT Fundamentals

Understand importance of IT in business and relevance to Audit with case studies, Understand working of computers and networks in business process automation from business information  perspective, Concepts of Computing (Definition provided by ACM/IEEE and overview of  related terminologies), Overview of IS Layers – Applications, DBMS, systems software,  hardware, networks & links and people, Overview of Information Systems life cycle and key phases, Computing Technologies & Hardware – Servers, end points, popular computing architectures, emerging computing architectures & delivery models – example: SaaS, Cloud Computing,   Mobile computing,   etc., Example: Overview of latest devices/technologies – i5,
Bluetooth, Tablet, Wi-Fi, Android, Touchpad, iPad, iPod, Laptop, Notebook,   Smartphone,  Ultra- Mobile PC etc.)

3.        Telecommunication and Networks

>Fundamentals of telecommunication, Components and functions of Telecommunication
>Systems, Data networks – types of architecture, LAN, WAN, Wireless, private and public networks etc., Overview of computing architectures – centralised, de-centralised, mainframe, client-server, thin-thick client etc., Network Fundamentals – Components, Standards and protocols, Network risks & controls – VPN, Encryption, Secure protocols,
>Network administration and management – concepts and issues, How information systems are facilitated through telecommunications, How Internet works, Internet architecture, key concepts, risks and controls, e-Commerce and M-commerce technologies

4. Business Information Systems

Information Systems and their role in businesses, IT as a business enabler & driver – ERP, Core B@nking System, CRM, SCM, HRMS, Payment Mechanisms, The relationship between organisations, information systems and business processes, Accounting Information Systems and linkages to Operational systems, Business Reporting, MIS & IT, Organisation Roles & responsibilities and table or authorities, importance of access controls, privilege controls, Specialised systems – MIS, DSS, Business Intelligence, Expert Systems, Artificial Intelligence, Knowledge Management systems etc.

5.   Business process automation through Application software

Business Applications – overview and types, Business Process Automation, relevant controls and information systems, Information Processing & Delivery channels and their role in Information Systems, Key types of Application Controls and their need, Emerging concepts – Virtualisation, Grid Computing, Cloud delivery model.


Section B: Strategic Management (50 marks)

CA IPCC syllabus for SM subject includes following chapters.

1.         Business Environment
General environment – demographic, socio-cultural, macro-economic, legal/political, technological, and global; competitive environment.

2.         Business Policy and Strategic Management
Meaning and nature; strategic management imperative; vision, mission and objectives; strategic levels in organisations.

3.         Strategic Analyses
Situational analysis – SWOT analysis, TOWS matrix, portfolio analysis – BCG matrix.

4.         Strategic Planning
Meaning, stages, alternatives, strategy formulation.

5.         Formulation of Functional Strategy
Marketing strategy, financial strategy, production strategy, logistics strategy, human resource strategy.

6.         Strategy Implementation and Control
Organisational  structures;  establishing  strategic  business  units;  establishing  profit  centers  by business,   product   or   service,   market   segment   or   customer;   leadership   and   behavioural challenges.

7.         Reaching Strategic Edge
Business process re-engineering, benchmarking, total quality management, six sigma, contemporary strategic issues.

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