CPT Exam 2023-24: Everything About the Syllabus, Exam Pattern, Eligibility, Registration Process, & Much More!

No wonder stepping on a journey to become a Chartered Accountant in India is a challenging yet rewarding pursuit. The CPT exam is at the forefront of this rigorous path – a crucial stepping stone toward the coveted Chartered Accountancy (CA) qualification.  Conducted by the esteemed Institute of Chartered Accountants of India (ICAI), the CPT exam serves as the initiation into financial expertise. 

It is a rite of passage, demanding a comprehensive understanding of fundamental concepts and principles. This multiple-choice, objective-type test spans four hours and is designed to evaluate candidates on diverse grounds, testing their mettle in areas essential for a successful CA career.

Crucially, the significance of the CPT exam lies not only in its comprehensive testing but also in its mandatory nature. Aspiring CA candidates must conquer the CPT before progressing to the subsequent levels of the CA program. This ensures a solid foundation in the core principles of accountancy, taxation, mercantile law, and economics.

The success in the CPT exam demands more than just rote memorization. To execute this academic milestone, aspiring CAs must acquaint themselves with the CPT exam’s intricacies, including the pattern, syllabus, and marking scheme. And that’s why we are here for you! We will provide you with all the information you need.

Shall we begin? Come along… But before that let’s first identify…

What is the CPT Exam?

The full form of the CPT exam is the Common Proficiency Test. The exam is now recognized by the CA Foundation and serves as the inaugural step towards attaining the esteemed designation of Chartered Accountant (CA) in India. Administered biannually by the Institute of Chartered Accountants of India (ICAI) in June and December, this examination evaluates candidates on four core subjects. These include Principles and Practices of Accounting, Business Laws and Business Correspondence and Reporting, Business Mathematics, Logical Reasoning, and Statistics, as well as Business Economics and Business and Commercial Knowledge.

Structured as an objective-type multiple-choice test, each paper is allocated 100 marks. Success in the CPT necessitates a minimum of 40% in each subject and an overall aggregate of 50%. Successfully clearing the CPT propels students to the subsequent phases of the CA journey, encompassing the Intermediate (IPC) and Final exams. This rigorous examination process ensures that individuals progressing through the ranks possess a comprehensive understanding of accounting principles, business laws, mathematics, logical reasoning, and economics essential for a successful career in chartered accountancy.

CPT Exam vs CA Foundation? How It’s Different? 

The CA Foundation course, introduced by the Institute of Chartered Accountants of India (ICAI), replaces the Common Proficiency Test (CPT) as the entry-level examination for aspiring Chartered Accountants. Conducted biannually in May and November, it assesses the proficiency of candidates entering the CA program. 

Unlike its predecessor, the CA Foundation course boasts a more extensive curriculum, aligning with current economic trends. Students can now register for the CA course immediately after Class XII exams. The revised syllabus and examination pattern aims to equip students with the knowledge needed to navigate evolving financial landscapes. This adaptation ensures aspirants stay attuned to changing trends in financial modalities.

Criteria	CPT Exam	CA Foundation
Examination Pattern	Objective question paper	Subjective-type question paper Introduces subjective questions to identify eligible candidates
Eligibility Criteria	12th standard board examination from any recognized board Candidates currently pursuing Class XII can also register for the CPT exam if their board exam falls in October-November	12th standard board examination from any recognized board Candidates can register after appearing for the Class XII exams
Examination Schedule	Conducted twice a year in June and December	Conducted twice a year in May and November Registration is required two months before the exam
Examination Syllabus	Accounting, Mercantile Laws, Quantitative Aptitude, and General Economics	Business law and Business correspondence, Principles and practices of accounting, Business mathematics, and logical reasoning, Business economics, and Commercial knowledge
Marking Scheme	The entire question paper is objective with negative marking Total marks: 200	A mix of subjective and objective questions Total marks: 400
Minimum Pass Percentage	50%	50%
Examination Fees	Rs 1,000	Rs 9,800 (Indian students), $780 (Foreign students)

CPT exam eligibility criteria

The Common Proficiency Test (CPT) is a crucial examination for students aspiring to pursue a career in chartered accountancy. The eligibility criteria for CPT are well-defined, ensuring a fair and standardized process for registration.

Class 10 Examination

A student who has passed the Class 10 examination conducted by a recognized examining body in India or its equivalent, as recognized by the Central Government, is eligible to register for the Common Proficiency Test.

Senior Secondary Examination (10+2)

A registered student must have appeared in the Senior Secondary Examination (10+2) conducted by a legally constituted examining body in India, or an equivalent examination recognized by the Central Government.

Registration Timing

To be eligible for the CPT examination in June or December, a student must register 60 days before the first day of the respective month (i.e., on or before 1st April for June and 1st October for December).

International Qualifications

The Association of Indian Universities recognizes 5 passes at GCE ‘O’ level/GCSE/IGCSE in A/B/C Grades and two passes at GCE ‘Advanced’ level as equivalent to the +2-stage qualification in India.

Higher Education/Diploma Holders

Students with two years of higher education, including a diploma course after passing the 10th class, conducted by Central/State Government(s), are eligible for CPT upon admission to the first year of a graduation course.

Recognition by AIU

The 10+2 examination from any other recognized Board/University, not covered above but acknowledged by the Association of Indian Universities (AIU) as equivalent to the Senior Secondary (10+2) Examination as recognized by the Central Government, also makes students eligible for CPT.

In essence, the eligibility criteria for CPT are diverse, encompassing various educational paths to facilitate a broad spectrum of candidates in pursuing a career in chartered accountancy.

CPT Exam registration process

The CA profession is a prestigious field that requires aspiring candidates to undergo a structured examination process. The CA Foundation exam, formerly known as the CPT, serves as the initial step on the path to becoming a Chartered Accountant. Here is a concise guide outlining the registration process for the CA Foundation exam, highlighting the steps candidates need to follow.

• Visit the official website of the ICAI and navigate to the Self-Service Portal (SSP) option.
• Click on “First Time User (New Student)” and provide all the required personal details.
• Generate an OTP by clicking on the relevant option; the OTP will be sent to your registered mobile number.
• Enter the OTP to obtain login credentials, which will be shared via email or SMS.
• Log in to the ICAI portal using the provided credentials.
• Complete the CA Foundation application by filling in all necessary information and uploading the required scanned documents.
• Click “Enter” after ensuring all proof and documentation are accurately submitted.
• Proceed to the CA Foundation payment gateway to pay the registration fees.
• Upon successful payment, your registration will be approved, and you can obtain a printout of your registration fee invoice.
• Once the CA Foundation registration is finalized, study materials for the exam will be sent to your registered address.

Note: While the registration for the June attempt may have closed in January, candidates still can register for the December attempt until July 1, 2023. It is essential to follow these steps meticulously to ensure a smooth and successful registration process for the CA Foundation exam.

CPT Examination Pattern

The Common Proficiency Test (CPT) is a crucial examination for aspiring Chartered Accountants, serving as the entry point to the Chartered Accountancy course. The CPT Exam for December 2023 is conducted in an offline Pen-Paper-Based format, encompassing four distinct sections. This comprehensive table outlines the key details and structure of the CA CPT Exam 2023.

Particulars	Relevant Details
Exam Date	December 2023
Exam Mode	Offline
Duration	2 Hours
Exam Shifts	– First Shift: 10:30 am to 12:30 pm – Second Shift: 2:00 pm to 4:00 pm
Language	English and Hindi
Total Sections	4
Type of Questions	Objective-based

Subjects	Duration	Marks
Fundamentals of Accounting	3 hours	60
Mercantile Laws	3 hours	40
Quantitative Aptitude	2 hours	50
General Economics	2 hours	50

Note:

• All questions are multiple-choice questions.
• Each correct answer is awarded 1 mark.
• For each incorrect answer, 0.25 marks are deducted.

For more assistance about the exam? Connect with our experts! Visit – Career Counselling in Indore. 

CPT exam syllabus 

Here’s the table providing an overview of the CPT exam syllabus:

Section	Topics
Fundamentals of Accounting	Theoretical Framework, Introduction to Company Accounts, Depreciation Accounting, Bank Reconciliation Statement, Partnership Accounts, Accounting Process, Accounting for Special Transactions, Preparation of Final Accounts for Sole Proprietors
Mercantile Laws	The Indian Contract Act (Sections 1 to 75): General overview, Essentials of a valid contract, The Indian Partnership Act, 1932: General Nature of Partnership, Registration and dissolution of a firm, Rights and duties of partners, 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
Quantitative Aptitude	Theoretical Distributions, Limits and Continuity, Ratio and proportion, Sequence and Series: Arithmetic and geometric progressions, Indices, Sets, Functions and Relations, Logarithms, Equations, Inequalities, Statistics and data, Sampling Theory, Basics of Differential and Integral Calculus, Permutations and Combinations, Measures of Central Tendency and Dispersion, Simple and Compound Interest
General Economics	Indian Economic Development, Introduction to Microeconomics, Theory of Demand and Supply, Microeconomics, Theory of Production and Cost, Price Determination in Different Markets, Overview of the Indian Economy and its Select Aspects, Economic Reforms in India, Money, and Banking

Note: The content provided here is a structured representation of the CA CPT Exam syllabus in a table format. Ensure that you refer to the latest official syllabus and guidelines for accurate and up-to-date information.

CPT exam December 2023 dates

The CA CPT is administered as a Pen-Paper-Based Test (PBT), held offline at designated exam centers. Scheduled over a weekend, the first shift runs from 10:30 am to 12:30 pm, and the second shift follows from 02:00 pm to 04:00 pm. This exam comprises four distinct sections, with candidates attending these sections on different days or shifts. The structure ensures a comprehensive evaluation of candidates’ knowledge and skills systematically.

Here’s an overview of the CPT/CA foundation exam December 2023 dates:

Dates	Upcoming Events
CA Foundation Exam	30 Dec ’23
CA Foundation Exam	02 Jan ’24
CA Foundation Exam	04 Jan ’24
CA Foundation Exam	06 Jan ’24

How to prepare for the CPT Exam?

Preparing for the CA CPT exam requires a strategic approach to mastering diverse subjects and demonstrating practical knowledge. Here’s a comprehensive guide to help you excel:

Understanding Exam Structure:

Familiarize yourself with the exam structure, which covers three main subjects: Fundamentals of Accounting, Mercantile Laws, Quantitative Aptitude, and General Economics.

Focus on Fundamentals of Accounting

• Dive into the Theoretical Framework and develop a strong foundation in company accounts and depreciation accounting.
• Practice Bank Reconciliation Statements and grasp Partnership Accounts intricacies.
• Master the accounting process and gain expertise in handling special transactions.

Grasping Mercantile Laws

• Thoroughly study The Indian Contract Act, focusing on contract essentials and considerations.
• Understand The Indian Partnership Act, including firm registration, dissolution, and partner rights.
• Explore The Sale of Goods Act, emphasizing the formation of sale contracts and rights of unpaid sellers.

Tackling Quantitative Aptitude

• Cover theoretical distributions, limits, continuity, and ratio and proportion.
• Work on arithmetic and geometric progressions, equations, and inequalities.
• Practice permutations, and combinations, and delve into differential and integral calculus.

Mastering General Economics

• Explore Indian economic development, microeconomics, and the theory of demand and supply.
• Understand production and cost theory, price determination in different markets, and key aspects of the Indian economy.
• Stay updated on economic reforms, money, and banking.

Practical Application through Practice Papers

• Enhance applicative knowledge by regularly practicing test papers.
• Simulate exam conditions to improve time management and problem-solving skills.
• Identify weak areas and focus on targeted improvement.

By following this comprehensive approach, you’ll not only cover the syllabus thoroughly but also develop the practical skills needed to excel in the CA CPT exam.

Tips to Establish a Successful Career as a Chartered Accountant

Epilogue!

The CPT Exam, now known as the CA Foundation, is the gateway to a prestigious Chartered Accountancy career in India. Administered by the ICAI, it evaluates candidates in accounting, business law, mathematics, and economics. The transition from CPT to CA Foundation signifies a broader curriculum aligned with evolving financial landscapes. 

The eligibility criteria encompass diverse educational paths, ensuring inclusivity. The registration process involves detailed steps through the ICAI portal. Understanding the exam pattern, syllabus, and strategic preparation is crucial for success. Aspiring CAs must navigate this challenging yet rewarding journey with a comprehensive grasp of fundamental principles.

We hope you have all the information needed to make the right career decision! However, choosing the right career could be a daunting task for anyone! And that’s why we are here to help you. Understand what it takes and whether you have it in you. You can avail of iDreamCareer’s special services for that. 

We are here to assist you in making an informed decision about your future in this thriving field. Take advantage of iDreamCareer’s Course Selection Program today and embark on the path toward a successful future! 

Useful Links

1. CA Course Details After 12th
2. Career as a Chartered Accountant
3. Chartered Accountancy Course
4. CA in Canada
5. CA: All you need to Know

FAQs