CAREER IN CA/CS/ICWAI,Chartered Accountants of India [ICAI] to update examination and training,Company Secretary syllabus,B.Com [Hon] student,INFOBASH

AFTER HSC/10+2: CA/CS/ICWAI

Q1. I am in class X and I am interested in doing my Chartered Accountancy. Could you apprise me about the recent changes introduced in Chartered Accountancy by the Institute of Chartered Accountants of India [ICAI] to update examination and training?

Q2. I am student of Commerce (class XII), and would like some information about the recent changes made in the Company Secretary syllabus. Could you also apprise me about the admission process?

Q3. I am a commerce student (class XII) of the University OfJammu planning to become a Company Secretary. How do I pursue this?

Q4. I am a final year B.Com [Hon] student at Delhi University. I want to do a course in Cost & Works Accounting after gradu ation. What are the prospects of doing a course from the In­stitute of Cost and Works Ac countants ofIndia (ICWAI)?

AFTER HSC/10+2: CA/CS/ICWAI

QS. I am in class X and I am interested in doing my Chartered Accountancy.Could you apprise me about the recent changes introduced in Chartered Accountancy by the Institute of Chartered Accountants of India[ICAI] to update examination and training?

ANS. THE Institute of Chartered Accountants of India (ICAI) has introduced a number of measures to update examination and training. Now candidates can register for the Common Proficiency Test (CPT) after clearing 10th boards as compared to the existing scheme where they could only register after their 12th board result.

Examination pattern:-

The CPT exam will now be an objective paper of 200 marks and will be held once in three months across the country. Earlier, the CPT exam was held once in six months. The emphasis of CPT will be on core subject’s accountancy, mercantile law, quantitative aptitude and general aptitude. As per the new norms, students who have cleared the CPT will engage in article ship training, the duration of which has been increased from three to three years and six months, following which the candi date can appear for the Proficiency Competence Exam (PCE).

Once a student clears his PCE he can apply for the final examination. Around 100 hours of IT training is also mandatory as per the new norms. General Management and Communication Skills (GMCS) can be completed even during article ship training making the scheme more effective. The new scheme will be implemented from this year [2006]. Now a candidate can be a qualified CA in four years. For up to date information log on to (www.icai.org).

QS. I am student of Commerce (class XII), and would like some information about the recent changes made in the Company Secretary syllabus. Could you also apprise me about the admission process?

ANS. Keeping in view the complex and demanding roles that company secretaries have to play in the globilised economy the Institute of Company Secretaries of India (lCSI) has introduced several changes in the syllabus to produce efficient, multifac eted company secretaries (CS) who can advise the management on profitable ventures and ensure that inter national corporate laws are abided to.

Company secretaries as officers of a company, plays a major part in the organization’s governance. He/she acts as an in-house legal and financial adviser with sound knowledge of accountancy and a grasp of the company’s financial policies. The new company secretary course gives adequate exposure to law, management accounting, cost accounting, finance, direct indirect taxation, International cooperate governance and is more practical.

The CS Course is by Correspondence with provision for Optional Oral Coaching classes. Registration is open through out the year. The Eligibility criteria is 10+2 or equivalent in any stream except Fine Arts for the Foundation course and a Graduation in any discipline, Arts/Science/Commerce except Fine Arts for the Intermediate Course. Registration is for a five year period and registered students are required to complete the Intermediate and Final examination during this period.

The prescribed application forms can be obtained from the headquarters of the Institute of Company Secretaries of India at ICSI House, 22 Institutional Area, and Lodi Road, New Delhi. For up to date information log on to www .icsi.edu.

QS.I am a commerce student (class XII) of theUniversity Of Jammuplanning to become a Company Secretary. How do I pursue this?

ANS. To become a Company secretary you have to pass the Foundation, Intermediate and Final Examination conducted by the Institute of Company Secretaries of India (ICSI).Further practical experience ranging from 2-3 years or undergoing management training for 15 months + 4 months of practical training arranged by the institute is necessary in order to be admitted as an Associate Member and to be employed or practice after obtaining the certificate of practice from ICSI.

If you wish to pursue your CS studies along with your graduation then you will have to seek admission into the Foundation Course (8 months duration). If you register by March, you can appear for the Foundation exam in December. Only when you clear the Foundation course do you seek registration as a student for the Intermediate Course. If you wait to complete your graduation, then you will be able to seek admission directly into the Intermediate Course. For detailed information log on towww .icsi.edu.

QS. I am a final year B.Com [Hon] student at DelhiUniversity. I want to do a course in Cost & Works Accounting after gradu­ation. What are the prospects of doing a course from the In stituteof Cost and Works Ac­countants of India(ICWAI)?

ANS. A cost accountant collects, organizes and analyses information from all sections of an organization to foster business decisions. She/he evaluates the data of the company's past performances, the current profile and provides accu rate assessments and suggestions for future profits. Cost and man agement accountants can work in all kinds of organizations includ ing banks, manufacturing and marketing companies. To qualify as a cost account ant, you need to take the exams conducted by the ICWAI. The ex ams are held in three stages: foundation, intermediate and fi nal. You can join the foundation course after Class XII, or go di rectly into the Intermediate stage after graduation. Training is conducted through postal tu­itions from the institute. Oral coaching is also given at recognized centers all over the coun try. The training programme is structured in such a way that you can work while studying. The postal tuition conducted by the ICWAI is comprehensive & includes the study material, assignment for evaluation, sample question papers with model answers.

There are four papers in the intermediary stage, namely financial ac counts, cost accounts, corporate laws and secretarial Practice and direct taxation. In the final stage, you will be asked to take an exam in cost & manage ment accounts, Auditing indi rect taxation and quantitative methods. The Intermediate and final exams can normally be completed in one and a half years. You can get more information on CWA from ICWA, ICWA Bhawan, 3 Institutional Area Lodhi Road,New Delhi 110003, or from their website that is (http://myicwai.com)