|
ANSA - Coaching
classes for Chartered Accountancy |
1.
The
Constitution
The Institute of Chartered Accountants of India (ICAI) is a premier
professional accountancy body of the country, established in July, 1949 under
the Chartered Accountants Act, 1949, enacted by the Parliament to regulate the
profession of Chartered Accountancy in
Presence
The Institute has its headquarters at
The Institute has also 18 Chapters outside
Educational
services
The Institute is actively engaged in imparting education and training
to the students and conducts examinations for them and grants membership to
successful candidates and certificates of practice to members intending to practice
the profession.
Board of Studies of the Institute imparts theoretical education to
students of the chartered accountancy course as well as to the students who
prepare for entry level test called Common Proficiency Test.
2.
Why Chartered
Accountancy?
Carrier
opportunities
The
statutory recognition given to the profession of chartered accountancy, the curriculum
and the course design makes it a profession that offers opportunities of both practise and employment
The course design
The
CA course is designed to yield an appropriate blend of academic knowledge and
practical training. This design enables a chartered accountant to be a
multifaceted professional.
Expertise
A
chartered accountant would gather expertise in the fields of accounting,
auditing, corporate finance, project evaluation, company and other business
laws, taxation and corporate governance.
CA
course, when planned properly, is the least cost and maximum return course by
which the students get a ‘professional degree’ in the shortest time. Any
professional qualification enables the person express an independent
professional opinion. At 21 the student becomes a professional by the CA
course.
3.
The route to
Chartered Accountancy
Requirements for becoming a chartered accountant under the new scheme
are as follows:
Step
1
i.
Enroll with the Institute for Common Proficiency Test (CPT) after
passing Class 10 examination conducted by an examining body constituted by law
in
ii.
Appear CPT examination after appearing in the Senior Secondary
Examination (10+2 examination) conducted by an examining body constituted by
law in India or an examination recognized by the Central Government as
equivalent thereto and after completion of specified period from the date of
registration for CPT with the Board of Studies. This specified period for CPT
examination held in February, 2007 and the examinations to be held thereafter,
the specified period is 60 days.
Step 2
i.
Join Professional Competence Course (PCC), articled training and
register for 100 Hours Information Technology Training (ITT) after passing CPT
and 10+2 examination.
ii.
Undergo 100 Hours ITT on completion of three months of articled
training (100 Hours ITT is a 20 days programme @ five
hours per day; the training will be treated as part of the practical training).
iii.
Appear in Professional Competence Examination (PCE), if
ü
worked for not less than fifteen months as an articled assistant or
equivalent period as
ü
an audit assistant or partly as an articled assistant and partly as an
audit assistant, three months prior to the first day of the month in which
examination is held; and
ü
Completed 100 Hours ITT.
[Eight
months of audit training is treated as equivalent to six months of articled
training. Any fractional period of audit training less than eight months is not
counted for this purpose]
Step 3
i.
Join CA Final course:
ü After
passing PCE register for Final course with the Board of Studies;
ü Collect
Study Materials of the Final Course and prepare for Final Examination;
ü May
undergo General Management and Communication Skills (GMCS) Course while
undergoing Final course; and
ü Complete
articled training of 3˝ years.
ii.
Appear in final examination on completion of the practical training on
or before the last day of the month preceding the month in which the
examination is held.
iii.
Pass Final examination and complete GMCS Course.
iv.
Enroll for membership.
4.
Is CA a
lucrative career? The Return on Investment
Cost analysis of CA as
a career option
|
Particulars of Fees in Rs |
CPT |
PCC |
FINAL |
TOTAL |
|
Registration
fees to ICAI |
3,500 |
7,500 |
10,000 |
21,000 |
|
IT training
fees to ICAI |
|
2000 |
|
2000 |
|
Examination
fees to ICAI |
500 |
1,500 |
2,000 |
4,000 |
|
Fees to ICAI |
4,000 |
11,000 |
12,000 |
27,000 |
|
Additional
coaching fees |
5,000 |
25,000 |
45,000 |
75,000 |
|
Total Investment |
9,000 |
36,000 |
57,000 |
102,000 |
Note: The above is not adjusted for the
stipend, the student would get in the three years training period, which would
be about Rs.3000
The pay back
When the total cost of Rs1,02,000 is compared with the average minimum
remuneration offered by the campus recruiters of Rs.
6-8 Lakhs it is clear that the chartered accountant
would earn back the investment and more in the first few months of his
employment.
Career opportunities
Charted accountants are widely sort after professionals by a wide range
of companies; the following table captures the recent status in this regard.
Sector-wise absorption of newly
qualified Chartered Accountants through campus placement programme
|
S.No. |
Sector |
Number of Organizations |
Number of Candidates |
|
1 |
Banking |
17 |
427 |
|
2 |
Business Process Outsourcing |
5 |
248 |
|
3 |
Chartered Accountancy Firms |
15 |
213 |
|
4 |
Financial Services |
8 |
162 |
|
5 |
Diversified |
6 |
153 |
|
6 |
Information Technology - Software |
9 |
141 |
|
7 |
Oil & Gas Refining |
8 |
100 |
|
8 |
Business Consultancy |
5 |
60 |
|
9 |
Mining |
2 |
58 |
|
10 |
Insurance-Life |
2 |
40 |
|
11 |
Aviation & Airlines Sector |
1 |
32 |
|
12 |
Power Generation and Distribution |
6 |
27 |
|
13 |
Auto Manufacturing - Other Vehicles |
3 |
25 |
|
14 |
Fertilizers |
3 |
21 |
|
15 |
Heavy Engineering |
3 |
18 |
|
16 |
Beverages (non alcoholic) |
1 |
17 |
|
17 |
Irrigation |
1 |
15 |
|
18 |
Telecommunication |
2 |
13 |
|
19 |
Consumer Electronics and Durables |
2 |
11 |
|
20 |
Shipping |
1 |
9 |
|
21 |
Iron & Steel |
1 |
6 |
|
22 |
Dairy Products |
2 |
6 |
|
23 |
Education, Training and Research |
1 |
5 |
|
24 |
Petrochemicals |
1 |
5 |
|
25 |
Agro Industries and Agricultural Products |
1 |
5 |
|
26 |
Textile Manufacturing |
1 |
4 |
|
27 |
Engineering Procurement and Construction |
1 |
4 |
|
28 |
Paints & Chemical |
3 |
4 |
|
29 |
Travel & Tourism |
1 |
4 |
|
30 |
Exim Trade |
1 |
3 |
|
31 |
Sugar |
1 |
2 |
|
32 |
Drugs and Pharmaceuticals |
1 |
1 |
|
33 |
Courier Services |
1 |
1 |
|
34 |
Cosmetics and Toiletries |
1 |
0 |
|
35 |
Trading |
1 |
0 |
|
|
Total |
|
1840 |
|
Source: ICAI |
|||
Career growth
There is general misunderstanding that the CAs
only does tax practice and Audit. This is due to the inadequate understanding
of people. CAs are one of the few professionals who
have complete understanding of how organizations really work and hence they get
elevated to higher positions in organizations very early.
The course design also offers an opportunity to gradate as a
professional at the age of 21. This allows chartered accountants to grow and
achieve better in their career. It may also be noted that worldwide most of the
successful CEOs are CAs. Some of the key options
available to CAs are:
·
Practice: Audit and Tax
·
Management Consulting
·
Education – For instance IIMs and
·
Continue education and do their PhD in Finance related areas
·
ERP Consultants
·
Become Information Technology Auditors (possibly the most sought after
personnel)
·
Business and Industrial journalism
5.
CPT with ANSA
AEC & NCRCL school of
accounting (ANSA)
ANSA
a school for accounting is constituted to render specialised
and systematic educational services in the field of accounting. The school is
collaboration between AEC a pioneer in decentralising
the educational services and NCRCL a team of professional accountants who
caters to the business community a valuable management consultancy
service.
Know us
Asian Educational Consortium (AEC)
Asian
Educational Consortium (AEC) evolved in
While
Please
visit http://www.aecbizschool.com/
NCR Consultants Limited (NCRCL™)
NCR Consultants Limited (NCRCL™) was formed in 1999 and since 2000 has
been involved in significant projects in study, design and implementation of
systems in governmental and developmental organizations, particularly in the
areas of accounting, accountability, audit, finance management, MIS and
software. NCRCL™ is involved both in policy and process aspects. Within the short
period of its existence NCRCL™ has executed projects for The World Bank,
US-AID, and Swiss Agency for Development and Cooperation, and in Asian
Development Bank (as sub contractor). Governments of Tamil Nadu,
Karnataka, Kerala, Andhra Pradesh, Orissa, Madhya Pradesh and
The synergy
Team ANSA is a combination of expert
educational services facilitators (AEC) and Accounting experts (NCRCL). This
combination will yield quality surplus as it over comes the common hurdles
faced by other players who find either facilitation or quality control a
persistent problem.
ANSA Specialities
The ANSA team has analysed the challenges in
effectively preparing the students in transforming themselves into successful
chartered accountants and has accordingly devised solutions to these challenges
the summary of the analysis is as under:
|
The challenge |
Special Features |
High lights |
|
Effective class room
sessions |
ANSA would build a faculty team comprising of
qualified and experienced teachers and industry representatives A well made lecture plan for each session would be
handed to the students |
|
|
Enhancing clarity in
understanding of the subjects |
ANSA would develop a detailed text support materials
on the subjects taught. |
|
|
Monitoring student
progress |
ANSA would periodically assess every students
through carefully designed quizzes and carry out measures to improve student
performance |
|
|
Quality Check |
ANSA would take the feedback of the students on the
performance of the faculty in order to enhance the reach and understanding of
the course content |
|
|
Introspection |
ANSA believes that there is always room for
improvement and would have a system for analysing its performance through
student feed back, care full checking of adherence to lecture plans |
|
6.
The Approach
The context-
In
an effort to design a suitable scheme for its coaching classes team ANSA has
studied the current scenario in preparation for higher studies. The study
revels that-
v
Students are attending coaching classes after the school hours and as a
result-
·
Tired students underperform
·
Students would loose self learning and understanding skills
·
When a same concept is taught both at the school and the coaching
classes the students may get confused due to the unique teaching style of every
teacher.
v
The common proficiency test for CA is designed to make sure that the
students have a sound understanding of fundamentals of the respective subjects.
Hence there are similarities in syllabus between CPT and Plus 1 and 2. These
similarities are shown in the Annex.
|
Curriculum over view |
||
|
|
CBSE curriculum Cls. X+1&2) |
CA CPT Curriculum |
|
1 |
Accountancy |
Fundamentals of accounting |
|
2 |
Economics |
General economics |
|
3 |
Mathematics |
Quantitative aptitude |
|
4 |
|
Mercantile law |
Key observations
·
With a small increase in the allocation of lecture time a wholesome programme to enable the students to be successful in CPT as
well as their school education can be designed.
·
ANSA team could take up the responsibility to teach common areas I the
syllabus at the school so that-
-Students do not learn the same things twice
-Students are not exposed to different teaching styles
-The experience & expertise of ANSA team would benefit the
students.
The plan
In
response to the premises observed team ANSA proposes to intelligently embed a
CPT preparatory programme in to the schooling
schedule.
The programme
Team ANSA proposes to-
ü
Carry on an integrated coaching programme for CA CPT and the corresponding portion in
the CBSE syllabus
ü
The programme shall be a part of the school's
schedule
ü
The programmed shall tenure between Sep 07 and Mar08.
ü
Additional classes beyond the school’s schedule law as it is outside
the purview of CBSE curriculum.
CPT
with ANSA a win – win situation
|
The students |
ANSA |
The school |
|
Integrated
coaching programme |
|
|
|
|
|
|
·
How many classes a week, how many hours etc
Over all lecture time allocation
|
SlNo |
Subjects/Session |
During X+1 Curriculum |
During X+1 Vacation |
Total |
|
1 |
Fundamentals of accounting |
50
hours |
30
hours |
80
hours |
|
2 |
Mercantile law |
80
hours |
|
80
hours |
|
3 |
General economics |
50
hours |
30
hours |
80
hours |
|
4 |
Quantitative aptitude |
100
hours |
|
100
hours |
|
|
Total |
|
|
340
hours |
Lecture schedule
|
SNo |
Subjects/Session |
Sep-Mar (25 weeks) |
May (4 weeks) |
|
1 |
Fundamentals of accounting |
2 hours/Week |
8 hours/ Week |
|
2 |
Mercantile law |
3 hours/ Week |
|
|
3 |
General economics |
2 hours/ Week |
8 hours/ Week |
|
4 |
Quantitative aptitude |
4 hours/ Week |
|
Schedule for refresher sessions
|
SNo |
Sessions |
Schedule |
Duration |
|
1 |
One |
July 08 ( 4 days) |
20 hours |
|
2 |
Two |
September 08
( 4 days) |
20 hours |
|
3 |
Three |
After CBSE exam 08( 7 days) |
35 hours |
· Refresher
sessions would be held on week ends
· The
session would span 5 hours per day
· How the students will be evaluated?
Student evaluation scheme
|
SNo |
Desired
capability |
Evaluation
technique |
Evaluation
methodology |
|
1 |
Understanding of the concepts |
Surprise quiz |
·
Written or oral |
|
2 |
Application of knowledge |
Scheduled tests |
·
Written ·
Every test covers an unit of the syllabus ·
Test shall be conducted in the week following the week in which the
unit was taught |
|
3 |
Exam preparedness |
Mock exams |
·
Written ·
CPT examination pattern ·
5 such exams shall be conducted (1st at
the end of X+1,2nd at the end of vacation coaching and the rest
during refresher sessions) |
Note – All written test papers would be evaluated
by external faculty
·
What is the fee? How
should the STUDENT pay it? For the fees what will the students get?
The CPT programe
with ANSA
A cost benefit analysis
|
Cost |
Benefits |
|
Rs
5000 + Service tax Rs.630. |
435
dedicated coaching hours |
|
Explanatory
notes on lessons |
|
|
Comprehensive
question bank |
|
|
3
Mock examinations |
The
fees shall be payable on registration to the school authorities
Annex:
Comparison of CA – CPT and CBSE Syllabus
Note:
The shaded portion represents the similarities between the two syllabi.
|
1.
Paper : Accountancy |
|
|
Class X+1 |
CPT |
|
Unit 1 : Introduction to Accounting Unit 2 : Theory Base of Accounting Unit 3 : Generation of Vouchers and Recording of
Transactions Unit 4 : Trial Balance and Rectification of Errors
Unit 5 : Depreciation, Provisions and Reserves Unit 6 : Bills of Exchange. PART B : FINANCIAL ACCOUNTING-II (periods 84) Unit 7 : Financial Statements Unit 8 : Financial Statement of Not-for-Profit
Organization Unit 9 :
Computers in Accounting |
1. Theoretical
Framework 2.
Accounting Process. 3. Bank
Reconciliation Statement 4.
Inventories 5.
Depreciation accounting 6. Preparation
of Final Accounts for Sole Proprietors 7. Accounting for Special Transactions |
|
Class X+2 |
CPT |
|
Unit
1 : Accounting for Partnership Unit
2 : Reconstitution of Partnership Unit 3 : Dissolution of Partnership Firm Unit
4 : Accounting for Share Capital Unit
5 : Accounting for Debentures B. ANALYSIS OF
FINANCIAL STATEMENT Unit
6.1 : Analysis of Financial Statements Unit
6.2 : Statement of changes in Financial Position Unit
6.3 : Project Work OR COMPUTERISED
ACCOUNTING Unit
6.1 : Data base Design for Accounting Unit
6.2 : Overview of Computerized Accounting System Unit
6.3 : Application of Computers in Financial Accounting Unit
6.4 : Practical |
Partnership
Accounts Introduction
to Company Accounts. |
|
2.
Mathematics |
|
|
Class X+1 |
CPT |
|
Sets Relations and functions Mathematical
induction Logarithms Complex numbers Linear equations Quadratic equations Sequence & series Trigonometry Cartesian system
of rectangular coordination Straight line
and family of straight lines Circles Conic sections Permutations & combinations Binomial theorem Exponential log
arithmetic series Mathematical
logics Statistics |
1. Ratio and proportion, Indices, Logarithms 2. Equations 3. Inequalities 4. Simple and Compound Interest including annuity ─
Applications 5. Basic concepts of Permutations and Combinations 6. Sequence and Series – Arithmetic and geometric progressions 7. Sets, Functions and Relations 8. Limits
and Continuity ─ Intuitive Approach 9. Basic
concepts of Differential and Integral Calculus (excluding trigonometric functions) 10. Statistical description of data 11. Measures of Central Tendency and Dispersion 12. Correlation and Regression 13. Probability and Expected Value by Mathematical Expectation 14. Theoretical Distributions 15. Sampling Theory 16. Index Numbers |
|
3.
Economics |
|
|
1. Indian
Economy – A Profile 2. Select
Aspects of Indian Economy 3. Economic
Reforms in India |
|
Class
X+2 |
|
|
Micro
economics intro Consumer behaviour and demand Producer behaviour and supply Forms of
markets and price determination Macro economics intro National
income Determination of income and employment Money and
banking Govt. budget and the economy Balance of payment |
1. Introduction
to Micro Economics 2. Theory of
Demand and Supply 3. Theory of
Production and Cost 4. Price Determination
in Different Markets 5. Money and
Banking |
Note: The paper on Mercantile law covered by CPT
is beyond the purview of CBSE curriculum