CHARTERED ACCOUUNTANCY COURSE
WHAT TO DO- IPCC OR PCC
-CA SUDHIR HALAKHANDI
The results for the entrance examination i.e. Common proficiency test results are declared on 16th Jan. 2009 and the analysis of results is as under:-
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DATE OF EXAMINTATION
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STUDENTS APPEARED
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STUDENTS PASSED
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% OF PASS
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7TH DEC.2008
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217
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51
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23.5%
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14TH DEC.2008
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89026
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34210
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38.42%
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The comparative results for the two examinations recently held including the CPT held on 14th Dec.2008 are as under:-
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DATE OF EXAMINTATION
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STUDENTS APPEARED
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STUDENTS PASSED
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% OF PASS
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DEC.2008
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89026
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34210
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38.42%
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NOV.2007
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74130
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13203
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17.81%
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The New IPCC course has been announced by the ICAI and the first examination of IPCC (Integrated professional competency course) will be held on Nov.2009 and for this purpose the student have to get the registration on or before 31st. Jan . 2009
The students have the option of going existing PCC course also hence they have the choice and if there is a choice there will be confusion or dilemma also. Hence first there should be a clear understanding about the new course and its difference from the existing one and also the relevant procedures.
The existing PCC course require the articleship training after CPT but in the case of IPCC the articleship training begin after clearance of Group I of the IPCC. Since the period of training in IPCC is 3 years instead of 3.5 years in the PCC hence the final examination in both the cases will be on same date and the student can become CA also on the same period under both the options.
Let us have a look at the table which is showing the difference between both the courses:-
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PCC
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IPCC
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PCC/IPCC Examination date
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November 2010
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November 2009
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Results
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January,2011
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January 2010
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Articleship Registration
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January 2009
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January 2010
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Articleship completed
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June 2012(3.5 Years)
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January 2013 (3 Years)
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CA Final Examination
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November 2012
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November 2012
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CA Final result CA complete
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January 2013
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January 2013
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NEW SCHEME FOR CA COURSE
IPCC
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1. CPT Examination will continue in the present format and the students will have to clear the CPT first in the same manner as in the erstwhile system of PCC they are doing.
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2. After clearing the CPT the student have to register for new Integrated Professional Competence Course (IPCC) and have to sit for examination after 9 Months of Registration. The articleship is now only for 3 years and it will start only after clearing the 1stGroup of IPCC and completing the prescribed Information technology Training.The completion of Information Technology training is necessary before joining the Articleship is mandatory.
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3. The Final Examination can be given on clearing both the Groups of IPCC and a student can appear in the Final Examination during the last 6 Months of his training.
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4. Students who want to appear in first IPCC Examination to be held in Nov. 2009 should get themselves registered for IPCC on or before 31st. Jan. 2009.
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5. It appears that at present the syllabus of existing PCC will be applicable to IPCC with only one difference that the Accounting paper will be divided in two parts Accounting in Group I and Advance Accounting in Group II hence making the total number of paper as 7. The syllabus is also available on www.icai.org
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6. Till 30th June 2009 students (who have passed the CPT but waiting for articleship including the students who has appeared in Dec-2008 CPT and passed the same) have option either to go for IPCC or opt for existing scheme. It appears from it that after 30th June 2009 there will be only one option i.e. IPCC.
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7. The students who are already started their articleship will be governed under their old scheme at their choice but they can also convert themselves for IPCC and now it has been clarified by the ICAI that these students need not to take a break from their articleship training and can continue their articleship training and convert themselves for IPCC .
Further it has also been clarified that these students who converted themselves to IPCC will also be eligible for Final Examination during their last 6 Months of training. They have to complete the article training for 3.5 years including the training already completed before joining the IPCC.
The FAQs for conversion from PCC to IPCC are available on www.ipcc.org.
Here for the benefit of the readers I am reproducing herewith the two most important question from the FAQs hosted by the ICAI in this respect :-
Q.5:- Whether the articled assistant needs to take termination before joiningIPCC
ANS. No. An article assistant will have the option to either continue with the article training as per article deed already executed or take termination at the time of joining the IPCC.
Q.7:- When will the attempt become due for appearing in Final Examination under IPCC scheme of education after conversion from PCC.
ANS: - As student of final examination through PCC route can appear in Final examination only after completion of years of articleship. Whereas a student of PCC converting to IPCC will be eligible to appear in final examination during the last six Months of training and will be required to be in service as on the first day of the month of examination.
The form for conversion from PCC to IPCC is available on www.icai.org .
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Now after considering these two FAQs My advice is as under:-
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1. The existing students who has already commenced there articleship training should to IPCC only when they have the confidence that they can continue their study and prepare for early examination along with the articleship training and if they are capable of doing so then it will be an opportunity for them to get a early degree because after conversion they will be eligible to give final examination during the last six months of the training.
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2. The New CPT cleared should go for IPCC and for this purpose they should get their registration on or before 31st. Jan 2009 so that they can appear in the Nov. 2009 IPCC.
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MY SUGGESTION TO ICAI
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Even after changing the course once again there will be a problem and that is connected with the Group II of the IPCC hence if the articleship starts with clearing both the Groups of the IPCC then it will be better option since in that case the students can give their 100% in training.
- ca sudhir halakhandi
CAclubindia
