Pass Common Proficiency Test without taking much effort

I want to give the Common Proficiency Test and for that I want to get the details of how to pass Common Proficiency Test without taking much effort so can you provide me that?

[Arun Vats]

As you want to get the details of how to pass Common Proficiency Test without taking much effort so here it is for you:

Tips:
1. Only passing marks are required. Marks and rank obtained in CPT are not considered for the next stage – IPCC

2. You need not have a maths background. If you are not good in maths, you can score more in other subjects and less in maths. Remember, final goal is to score 100 or above

3. Practice is the key to success in CPT, practice daily as many questions as possible

4. Subjects that are considered scoring in CPT are: (a) Accounts, (b) Mercantile Law and (c) Macro Economics portion of Economics

5. For practice at home, try solving questions of a topic immediately after reading theory

6. Practice with as many model and sample question papers as possible

Syllabus of Common Proficiency Test:
SESSION - I Section A: Fundamentals of Accounting (60 Marks)
Contents:
1. Theoretical Framework
(i) Meaning and Scope of accounting
(ii) Accounting Concepts, Principles and Conventions
(iii) Accounting Standards - concepts, objectives, benefits
(iv) Accounting Policies
(v) 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
(a) Consignments
(b) Joint Ventures
(c) Bills of exchange and promissory notes
(d) 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.

SESSION - I Section B: Mercantile Laws (40 Marks)
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.

SESSION - II Section C: General Economics (50 Marks)
Contents
1. Micro Economics
(i) Introduction to Micro Economics
(ii) Definition, scope and nature of Economics
(iii) Methods of economic study
(iv) Central problems of an economy and Production possibilities curve.
2. Theory of Demand and Supply
(i) Meaning and determinants of demand, Law of demand and Elasticity of demand ? Price, income and
cross elasticity
(ii) Theory of consumer 's behaviour - Marshallian approach and Indifference curve approach
(iii) Meaning and determinants of supply, Law of supply and Elasticity of supply.
3. Theory of Production and Cost
(i) Meaning and Factors of production
(ii) Laws of Production - The Law of variable proportions and Laws of returns to scale
(iii) Concepts of Costs ? Short-run and long-run costs, Average and marginal costs, Total, fixed and variable costs.
4. Price Determination in Different Markets
(i) Various forms of markets - Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly
(ii) Price determination in these markets.
(iii) Indian Economic Development
5. Indian Economy - A Profile
(i) Nature of the Indian Economy
(ii) Role of different sectors - Agriculture, Industry and Services in the development of the Indian
economy, their problems and growth
(iii) National Income of India - Concepts of national income, Different methods of measuring national income, Growth of national income and per capita income in various plans.
(iv) Basic understanding of tax system of India - Direct and Indirect Taxation
6. Select Aspects of Indian Economy
(i) Population - Its size, rate of growth and its implication for growth
(ii) Poverty - Absolute and relative poverty and main programs for poverty alleviation
(iii) Unemployment - Types, causes and incidence of unemployment
(iv) Infrastructure ? Energy, Transportation, Communication, Health and Education
(v) Inflation
(vi) Budget and Fiscal deficits
(vii) Balance of payments
(viii) External debts.
7. Economic Reforms in India
(i) Features of economic reforms since 1991
(ii) Liberalisation, Privatisation and Disinvestment
(iii) Globalisation.
8. Money and Banking
(i) Money - Meaning and functions
(ii) Commercial Banks - Role and functions
(iii) Reserve Bank of India - Role and functions, Monetary policy.

SESSION - II Section D: Quantitative Aptitude (50 Marks)
Contents
1. Ratio and proportion, Indices, Logarithms
2. Equations Linear - simultaneous linear equations up to three variables, quadratic and cubic equations in one variable, equations of a straight line, intersection of straight lines, graphical solution to linear equations.
3. Inequalities Graphs of inequalities in two variables ? common region.
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 Approach5
9. Basic concepts of Differential and Integral Calculus (excluding trigonometric functions)
10. Statistical description of data
(i) Textual, Tabular & Diagrammatic representation of data.
(ii) Frequency Distribution.
(iii) Graphical representation of frequency distribution - Histogram, Frequency Polygon, Ogive
11. Measures of Central Tendency and Dispersion
Arithmetic Mean, Median - Partition Values, Mode, Geometric Mean and Harmonic, Mean, Standard deviation, Quartile deviation
12. Correlation and Regression
13. Probability and Expected Value by Mathematical Expectation
14. Theoretical Distributions Binomial, Poisson and Normal.
15. Sampling Theory Basic Principles of sampling theory, Comparison between sample survey and complete enumeration, Errors in sample survey, Some important terms associated with sampling, Types of sampling, Theory of estimation, Determination of sample size.
16. Index Numbers

I want to pass Common Proficiency Test (CPT) without taking much effort so please give me paper pattern and some preparation tips?

[Kiran Chandar]

Here I am giving you paper pattern and some preparation tips to pass Common Proficiency Test (CPT).

Paper Pattern of Common Proficiency Test (CPT):
(a) Fundamentals of Accounting – 60 marks
(b) Mercantile Laws – 40 marks
(c) General Economics – 50 marks
(d) Quantitative Aptitude - 50 marks

Preparation tips to pass Common Proficiency Test (CPT):

Coaching:
Choose coaching and make sure before joining any coaching classes you are satisfied with the Quality of faculties, Quality of study material and support are properly given.

Action:
Planning itself is not sufficient unless it is not synchronized with the proper Action. So stick with the plan you have prepared.

Mock Test:
Be regular in the Mock Test and keep proper track of your performance in tests.

Focus:
Fear of failure is the biggest distraction during the preparation of the CPT Exam.

Revision:
Revision is the key factor to decide whether you are going to clear CPT Exam in first attempt or not.


Contact Details:
Senior Joint Secretary (Exams.)
The Institute of Chartered Accountants of India,
ICAI Bhawan, C-1 Sector-1
Noida 201 301
Telephone No. 3054806 (D) 3989398 Ext 806
Fax 0120-3054843/841
E-mail: cpt_exam@icai.org