CPT Question Papers – Gateway to a Career in Chartered Accountancy

A lot of practical training is required in the professional course for becoming a Charted Accountant or a CA. The papers of professional competence exam and the final exam has questions that are of practical importance.

The candidates who wish to sit for CA examination should perfect and become expert of their field and not just the one that is used while working. The CA Question Papers are a must at Professional and Competence Exam/Integrated Professional Competence Exam and Final Exam.

For entry, one has to crack the CPT that is the Common Proficiency Test. Students after finishing their 10 + 2 can enter the profession of a CA through this entrance test.

The questions in CPT Question Papers are objective type with multiple choices.

The Question Papers cover the subjects Accounting/Mercantile Law/General Economics/Quantitative Aptitude of Common Proficiency Test. Besides, it also includes questions from Chartered Accountants/Subject experts working in various Colleges/Universities/Public/Students pursuing Chartered Accountancy Course, etc. These were originally invited from these experts of the subject.

The questions have four probable options to it. One of the options is the right answer.

Fill in the blanks are there with 4 alternate answers given from which to choose from.

Questions in the form of small paragraphs containing 3 to 4 lines each, followed by a question having 4 probable answer.

In Fundamentals of Accounting, Mathematics and Statistics The Numericals are there with 4 different answer out of which one is correct.

Case studies are also the part of CA Question Papers. They appear in simple words and contains multiple concepts in it. The case study is generally a practical situation taken from day to day corporate life. The candidate has to understand and answer it. Case study is basically given so as to check the analytical/logical ability and intelligence.

The ICAI or the Institute of Chartered Accountants of India has been set up and governed by an Act, that is called The Chartered Accountants Act, 1949. This Act has been taken out in order to govern the profession of Chattered Accountancy. It is also the second largest accounting body, globally.

It has changed quite a lot since according to the change that took place in the Indian economy. And over the years it has moved the quality of accounting and financial reporting, forward.

The various categories of subjects of ICAI Question Papers are —

Advanced Accounting
Management Accounting and Financial Analysis
English
Advanced Auditing
Corporate Laws and Secretarial Practice
Cost Management
Management Information and Controlling
Direct Taxes and Indirect Taxes

With the mighty internet facility available in every home, everything is easily accessible. So why not these question papers??? The sample question papers are available online too. Sites like latestt.com have uploaded ICAI CPT CA Sample Paper, on their sites. You just need to log on and download the papers. There is cost or charge for downloading these question papers. Practise these samplers as much as you can. A good practise would certainly help you to score better.

Hence, if a thorough preparation is done these exams are not that tough. Presence of mind and common sense are the things that are to be used in these papers other than subject knowledge.

Chartered Accountants Course in India

A Chartered Accountant holds prestige in the society and earns handsomely. The role of a CA is moving away from the traditional activities of audit and tax management to becoming consultants and advisor in the true sense. After acquiring the membership one can either choose to do public practice or join any organization at the public sector or private sector. Numerous career options open up.

Chartered Accountants are compulsory to assess the risks of the companies and can help them in designing control system to counter those risks. They could provide new assurance and working measurement services. They can cooperation change management at the ownership, structural and operational levels. They can be the serious advisors for stakeholder value making and strategic management. They can provide support in financial administration, financial regulation and matters related to insolvency and corporate recovery. They can become management consultants, mercantile bankers and privet equity investment advisors.

The chartered accountants course as structured by the Institute of Chartered Accountants of India is a good blend of theoretical education and practical training. Syllabus is revised and updated to keep pace with the rapid changing needs of the local and global economic environments. The CA programme has three sections, Competency Professional Test (CPT), Integrated Professional Competence Course (IPCC) and the Final examination. Examinations are held double a year in May and November and it is necessary that a student must register at least ten months before the examinations. After passing the Group I of the IPCC examination, candidates are eligible for registration as articled clerks/audit clerks for practical training.

The Institute of Chartered Accountants of India believes that there is a growing requirement of CA professionals in india and it has a tough time keeping pace with the demand. The valid point is therefore not whether or not you should do an MBA or a CA, but that you better know why you should do so. As in every profession, the most important thing is what you do with the degree you get.

Best Chartered Accountants For You – How to Get One

To search and hire the right chartered accountant for you is not an easy task, but if you are going to start up a business, hiring an accountant must be one of your priorities. It is of course required that the one that you are going to hire has the qualifications. One of the best ways is to ask your professional associates or find a reliable source.

The internet is replete with accounting firms who advertise their services online. You can check out these firms and contact them. Most of them are promising and can help you find the right accountant for you, who of course, has the right qualifications. You should also go for a firm which offers a free needs assessment, as it is as important as hiring the right accountant for your business.

The Benefits of Having an Accountant

An accountant’s job description includes studying and taking care of your accounts, diagnosing financial problems, and improving your company’s financial state. Researching about specialized services can be of great help if you have specific needs like payroll services, bookkeeping or legal services. Others offer a wide range of services while some focus on a specific area wherein they specialize.

Not hiring accounting or bookkeeping services is one of the most common mistakes that a business owner makes. This usually results in consequences that are not favorable to the business. Hiring an accountant must always be included in every business plan no matter how small the enterprise may be.

Another great and easy way to find skilled and qualified accountants is to ask your friends or professional associates for recommendations. Yellow pages and the internet are also great and helpful resources. After doing a research, you have a few prospects but the search doesn’t stop there.

Qualifications of the Right Accountant for the Business

Of course there are also points that you need to consider in choosing the right accountant for you. Are they skilled enough? Do they have enough experience? What is the credibility of the firm or source from which you have found your prospect?

Simply checking your books and records and taking care of payroll are not the only purposes that an accounting professional serves. They can also be financial advisors and valuable assistants aside from doing basic record-keeping.

Also, someone with sufficient experience, training, and expertise is what you really need because the tasks that an accountant is going to perform is of extreme value to the survival, growth, and improvement of a business. Finding a firm which houses skilled and qualified professionals is your best bet.

You also need to schedule a conference and meet with the potential employee for you to be able to know them better. Sometimes seeing their resumes is not enough. You have to see them in person for you to judge them better.

CPAs or chartered accountants are usually the best choice. They are trained to handle different accounting jobs and they are better equipped than ordinary accountants. The advantage of having a CPA over an ordinary accountant is the skills and knowledge that they have, which they can use to better handle the financial side of your business.