CPT (Common Proficiency Test) on 28th June 2009

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The next Common Proficiency Test (CPT) ( Paper-Pencil Mode) of the Institute will be held on 28th June, 2009 at the following centres : 1) Centres in India - Agra, Ahmedabad, Ahmednagar, Ajmer, Akola, Alappuzha, Aligarh, Allahabad, Alwar, Ambala, Amravati, Amritsar, Anand, Asansol, Aurangabad, Bangalore, Bareilly, Bathinda, Beawar, Belgaum, Bellary, Bhilwara, Bhopal, Bhubaneswar, Bilaspur, Bikaner, Chandigarh, Chennai, Coimbatore, Cuttack, Dehradun, Delhi/New Delhi, Dhanbad, Durg, Ernakulam, Erode, Faridabad, Ghaziabad, Goa, Gorakhpur, Guntur, Gurgaon, Guwahati, Gwalior, Hisar, Hubli, Hyderabad, Indore, Jabalpur, Jaipur, Jalandhar, Jalgaon, Jammu, Jamnagar, Jamshedpur, Jodhpur, Kanpur, Karnal, Kolhapur, Kolkata, Kollam, Kota, Kottayam, Kozhikode, Kumbakonam, Latur, Lucknow, Ludhiana, Madurai, Mangalore, Mathura, Meerut, Moradabad, Mumbai, Muzaffarnagar, Mysore, Nagpur, Nashik, Noida, Palghat, Pali Marwar, Panipat, Patiala, Patna, Pimpri-Chinchwad, Pondicherry, Pune, Raipur, Rajkot, Ranchi, Rohtak, Rourkela, Saharanpur, Salem, Sangli, Shimla, Siliguri, Solapur, Sonepat, Surat, Thane, Thiruvananthapuram, Thrissur, Tiruchirapalli, Tirupur, Tuticorin, Udaipur, Udupi, Ujjain, Vadodara, Varanasi, Vellore, Vijayawada, Visakhapatnam and Yamunanagar.

2) Overseas Centres – Abu Dhabi ,Dubai, Bahrain and Kathmandu (Nepal) .

Applications for admission to Common Proficiency Test ( Paper-Pencil Mode) is required to be made on the relevant prescribed form as contained in the Information Brochure, which may be obtained from the Additional Secretary (Examinations), The Institute of Chartered Accountants of India, ICAI Bhawan, Indraprastha Marg, New Delhi – 110 002 on payment of Rs. 600/-(Rs.500/- towards examination fee and Rs. 100/- towards cost of application form and Information brochure) per application form. The fee for candidates opting for Abu Dhabi , Duabi and Bahrain centres will be US $160 ( US $ 150 towards examination fee and US $ 10 towards cost of application form and information brochure) or its equivalent Indian Currency. The fee for the candidates opting for Kathmandu (Nepal) centre are required to remit INR.950/-( INR 850/- towards examination fee and INR 100/- towards the cost of application form and information brochure) or its equivalent foreign Currency. Since the cost of Information brochure containing Common Proficiency Test application form includes the examination fee , no separate fee is required to be remitted at the time of submitting the filled in application form. The Information brochure containing Common Proficiency Test application form will also be available in the Regional and Branch Offices of the Institute and can be obtained there from on cash payment on or from 6th April, 2009.

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Section – A: Fundamentals of Accounting ( 60 Marks )
Level of Knowledge : Basic knowledge.
Objective . . .

• To develop conceptual understanding of the fundamentals of financial accounting system.

Contents . . .

1. Theoretical Framework

• Meaning and Scope of accounting
• Accounting Concepts, Principles and Conventions
• Accounting Standards – concepts, objectives, benefits
• Accounting Policies
• Accounting as a measurement discipline – valuation principles, accounting estimates

2. Accounting Process
Books of Accounts leading to the preparation of Trial Balance, Capital and revenue expenditures, Capital and revenue receipts, Contingent assets and contingent liabilities, Fundamental errors, including rectifications thereof.

3. Bank Reconciliation Statement

4. Inventories
Basis of inventory valuation and record keeping.

5. Depreciation accounting
Methods, computation and accounting treatment of depreciation, Change in depreciation methods.

6. Preparation of Final Accounts for Sole Proprietors

7. Accounting for Special Transactions

• Consignments
• Joint Ventures
• Bills of exchange and promissory notes
• Sale of goods on approval or return basis.

8. Partnership Accounts
Final accounts of partnership firms – Basic concepts of admission, retirement and death of a partner including treatment of goodwill.

9. Introduction to Company Accounts
Issue of shares and debentures, forfeiture of shares, re-issue of forfeited shares, redemption of preference shares.

Section – B: Mercantile Law (40 Marks )
Level of Knowledge : Basic knowledge.
Objective . . .

To test the general comprehension of elements of mercantile law

Contents . . .

1. The Indian Contract Act , 1872: An overview of Sections 1 to 75 covering the general nature of contract , consideration , other essential elements of a valid contract , performance of contract and breach of contract.
   
2. The Sale of Goods Act, 1930: Formation of the contract of sale – Conditions and Warranties – Transfer of ownership and delivery of goods – Unpaid seller and his rights.
   
3. The India Partnership Act, 1932: General Nature of Partnership – Rights and duties of partners – Registration and dissolution of a firm.