The present batches of students have again made us proud by their super dooper performance in CA Intermediate and CA Foundation.
85% of students who took both Groups of Intermediate cleared the exam. Anjana Sundar got 28th All India Rank
90% of students who appeared for CA Foundation cleared. 17 students (more than 35% of students) passed in distinction with four All India Ranks. Shruthi (15th Rank), Abhirami (23rd Rank), Rishikesan (31st Rank) and Varun (46th Rank)
Proud and happy to mention about 100% result in CA Foundation Exams held in Nov 2018. All 32 cleared the exams. 9 got all India Rank and 12 others passed in Distinction. The exemplary performance of our students has to viewed in relation to the all India 43% pass rate.
Uniform CPA Examination Blueprints – Effective 1st January 2018
The Uniform CPA Examination of the USA is one of the very few exams that changes its structure and curriculum on a regular basis. This is done to keep the same abreast with the dynamic environment and also ensure that the feedback from various segments of the society, that includes the students, educationalists and others, is appropriately incorporated to make the examination more meaningful in terms of its content, structure and relevance. This article tries to have an overview of the blueprint of the exams effective 1st January 2018.
Testing within each Section (Subject) is administered in blocks called Testlets. Testlets contain operational and pretest questions. Operational questions are evaluated while pretest questions are not. Pretest questions are indistinguishable from Operational questions. Pretest questions that meet certain criteria are used as Operational questions on future exams.
Multiple Choice Questions (MCQs) vary in difficulty and are generally labelled as “medium” and “difficult”. Every candidate receives a medium testlet first. The succeeding testlet can be either medium or difficult depending on a candidate’s performance. It is pertinent to note that the scoring procedures take the difficulty of all questions into account to ensure fair scoring regardless of the difficulty of the testlets a candidate takes.
Task-based Simulations (TBS) are case studies that allow candidates to demonstrate their knowledge and skills by generating responses to questions rather than simply selecting the right answer. TBS questions typically require candidates to use spreadsheets and/or research authoritative literature provided in the examination.
In addition, BEC section contains 3 Written Communication Tasks (WCT) which requires the candidate to write a short passage, letter or memo.
Exam Pattern – Duration and Section Details
The following table gives an idea of the Examination pattern including the duration for each Section along with the number of questions in each question type. There may be some questions which are tested purely from
|Section||Exam Duration||No. of Questions|
|Multiple Choice Questions (MCQs)||Task Based Simulation (TBSs)||Written Communication|
|Auditing & Attn. (AUD)||4 hrs||72||8||–|
|Bus. Env. & Concepts (BEC)||4 hrs||62||4||3|
|Fin. Acctg. & Rep. (FAR)||4 hrs||66||8||–|
|Regulation (REG)||4 hrs||76||8||–|
Scores Weightage – Typewise and section wise
The table below presents the scoring weight for each type of questions for each section of the exam.
|Multiple Choice Questions (MCQs)||Task Based Simulation (TBSs)||Written Communication|
|Auditing & Attn. (AUD)||50%||50%||–|
|Bus. Env. & Concepts (BEC)||50%||35%||15%|
|Fin. Acctg. & Rep. (FAR)||50%||50%||–|
Skill Levels expected of a Candidate
The AICPA has adopted a skill framework for the exam based on the revised Bloom’s Taxonomy of Educational Objectives. Approximately 600 representative tasks that are important for a newly licensed CPAs role in protecting the public interest have been identified and expectations on various skill levels tabled asunder.
|Skill Level||Description of the Skill Level|
|Evaluation||The examination or assessment of problems, and use of judgement to draw conclusions.|
|Analysis||The examination or study of the interrelationships of separate areas in order to identify causes and find evidence to support inferences.|
|Application||The use or demonstration of Knowledge, Concepts or Techniques|
|Remembering and Understanding||The perception and comprehension of the significance of an area utilizing knowledge gained.|
Based on the above skill levels expected of a candidate, the following table illustrates the skill levels to be assessed on each section of the exam.
Skill Levels Assessed
Remember & Understand
|Auditing & Attn. (AUD)||
30% – 40%
30% – 40%
15% – 25%
5% – 15%
|Bus. Env. & Concepts (BEC)||
15% – 25%
|50% – 60%||20% – 30%||
Fin. Acctg. & Rep. (FAR)
|10% – 20%||50% – 60%||25% – 35%||
|25% – 35%||35% – 45%||25% – 35%||
The purpose of this blueprint primarily is to :
- Document the minimum level of knowledge and skills necessary.
- Assist the candidates in preparation for the exam by outlining the knowledge and skills that may be tested in the
- Apprise educators about the knowledge and skills candidates will need to function as freshly licensed
CA vs CPA
Finance, as we all understand, is the lifeline of any business. With the recent happenings across the globe, Finance professionals have been in the limelight for the right as well as the wrong reasons and many have taken up senior positions in the corporate world and are managing big conglomerates. At the end of the day everything boils down to money and here’s where experts in the field of Finance play an all-important role in the success or otherwise of a business. From an Indian perspective and a Global perspective, Chartered Accountancy (CA) and Certified Public Accountant from the USA (CPA) are two premier Professional Finance Certifications and there are always two schools of thought which prefer one over the other. While the aim of both courses is similar, there are certain specific and important characteristics that must be understood before one takes up the same.
What is a CA and What is a CPA
Before we try and understand what a CA is and what a CPA is, we need to first understand that the profile of the candidates wanting to do each of them is grossly different. Both are, as mentioned earlier, professional finance certifications with skills in Auditing, Financial Management, Tax Laws and Commercial Laws to name a few areas of specialisation. However there are certain fundamental characteristics which define them. The objective of this blog is to highlight these characteristics based on certain parameters.
|S.No.||Parameters||Chartered Accountancy ( CA )||Certified Public Accountant ( CPA )|
|1||Exam by||The exam is conducted by the Institute of Chartered Accountants of India (ICAI).||The exam is conducted by the Association of Institute of Certified Public Accountants (AICPA) of the USA on behalf of the State Boards of Accountancy.|
|2||Eligibility||A Pass in High School (10+2) in India. The student will have to then take up the Foundation exam followed by the Intermediate and Final exams before being conferred upon with the Certificate.||Eligibility varies from State to State as they are the body that awards the Certification once a candiate clears the CPA exams. However the minimum qualification would be a graduation with prescribed number of credits. It is better to assess the eligibility with an expert before getting into this.|
|3||Duration of the Course||It normally takes about 56 – 60 months for a candidate to complete including the 3 year mandatory articles period.||It takes about 6 – 12 months to complete the exams depending on the background of the candidate.|
|4||Examination System||1) A Candidate must pass 20 papers, divided into 3 levels namely Foundation (4), Intermediate (8) and Final (8).
2) Exams are conducted twice a year in multiple centres across India and select overseas examination centres.
3) With the exception of Foundation where a couple of papers are objective in nature all other papers at all levels are descriptive in nature consisting of short and essay type answers.
|1) A Candidate must pass 4 papers which predominantly consists of Objective type of questions. This would include a combination of Multiple Choice Questions and Task based Simulations.
2) Online exams are conducted for almost 300 days in a year and it is possible to sit for all papers in one go.
3) The main drawback however is that CPA exams are not conducted in India and the closest centres for Indian candidates are UAE, Bahrain or Kuwait.
|5||Recognition||CA is the premier qualification in Finance and Accounting in India and hence is recognized widely across India and a few countries outside India.||CPA is the premier qualification in Finance and Accounting in the US and is recognized widely across the US and many countries across the globe. As far as India is concerned CA does hold a distinct advantage but many MNCs looked for qualified CPAs for their requirement.|
|6||Cost of Completion||To complete the program in entirety it would cost around Rs. 2 lakhs for a candidate. However the stipend that they receive during the mandatory 3 year articles period would more than offset the cost they incur to complete this course.||It would cost around Rs. 4.50 lakhs to Rs. 5 lakhs to complete the CPA in total. This includes the cost of traveling and staying in the UAE for about 10 days to complete the 4 papers there.|
|7||Pass Criteria||1) A Candidate has to secure minimum 40% in each paper and in aggregate 50% overall to be declared as passed.
2) In the case of Intermediate and Final exams, there are 8 papers in each level (divided into 2 groups of 4 papers each). A student is declared to have passed in that particular group if he has scored 40% in each paper and 50% aggregate in all papers in that group.
3) If a student has failed to score 40% in any one paper, he has to reappear for all papers in that group unless he has scored 60% or more in any paper. In this case he need not reappear in that paper next time but the marks would be considered for calculating the aggregate of 50%.
|1) A Candidate has the option of writing the papers one by one and clearing.
2) The minimum pass mark is 75 in each paper and once a student passes a paper he has 18 more months by which he should pass the remaining 3 papers.
3) If a candidate attempts more than one paper at a time, he is deemed to have cleared those papers where he has got a score of more than 75 and he need not reappear for that paper subject to fulfilment of the condition mentioned in pt.no. 2 above.
|8||Pass Percentage||The pass percentage is around the 10% -12% mark (leaving out CPT / Foundation) for the CA taken as a whole.||The pass percentage is around the 40% mark for CPA taken as a whole. This can be attributed to the quality of students who take up the CPA as the eligibility criteria is strict as compared to the CA.|
|9||Career Prospects||Excellent in India and good in certain countries across the globe.||With passing of the exams and some work experience the prospects is exciting across the globe and good with MNCs in India.|
To sum it up both CA & CPA have their distinct advantages and disadvantages. While a lot of information is available pertaining to CA in India the following are clearly the highlights of CPA from a candidate’s perspective:
- Globally recognised and possibility of completion in 6 – 12 months
- Flexibility to write paper by paper and facilitates learning at one’s pace
- Predominantly objective and hence very little subjectivity in terms of evaluation
- Expensive in the short term but quick pay back upon securing an employment
Greydient learning is proud to announce the ACCA results of September 2017 Exams.
Congratulations! We are proud of your achievements.
Heartiest Congratulations to Kamalakar Rao who cleared all the 3 Parts to become a qualified CIA today.
Results of the IPCC (Intermediate) exams were declared on 31st Jan. They brought lot of cheer to the GMA family. Fifteen of our students passed the crucial Group 1.
They are now eligible for joining articleship. It will quite a task for us to fix articleship for all these 15 students at the same time in firms suitable to them; no doubt it is a very pleasant responsibility. One helpful factor is that quite a few firms including the Big 4 keep asking us for students; having known the performance of students from earlier batches. GMA students are perceived to be well mannered, well disciplined, and carry themselves with great diligence.
The second group of IPCC consists of three papers and our students should not have much difficulty to prepare along with their articleship.
Quite a few students are enamoured to join the Big 4 audit firms. Many students of our early batches too joined these firms. But they now realize that the work pressure and travel schedules in such firms are tiring, leaving no time or energy for studies. Those who went to smaller firms not only got to do a variety of assignments but could also find time to attend classes for Final and had time to study. Quality professional training and continuous studies are both essential to make a good Chartered Accountant.Our students are now more keen to join mid-sizes firms having good work ethics and a range of jobs with less work pressure.
Articleship is a combination of being a student as well as an office goer but has the advantage of neither. It is a high pressure period and parents should support their wards in navigating it successfully without building up stress.
Good luck to all those taking up articles – remember that GMA family is there always to support you.
With great pride and pleasure we would like to inform you of meritorious performance of two of our students in the ACCA exam conducted in March 2016.
- Anoop K John (Batch 3) got FIRST RANK in India in the F9 exam of ACCA having secured 78%. He is ranked 11th in the world
- Avantika Shankar (Batch 3) got FIRST RANK in India in the F7 exam of ACCA having secured 82%. She is ranked 12th in the world
84% of students who appeared for CPT in June 2016 cleared (All India average 39%). Two students Anshul Mehta and Sanchit Krishna got 18th and 42nd All India rank in May IPCC
84% of students who appeared for CPT in June 2016 cleared (All India average 39%).
Two students Anshul Mehta and Sanchit Krishna got 18th and 42nd All India rank in May IPCC