The CPT or Common Proficiency Test is the first level of Chartered Accountancy examinations in India

Eligibility criteria

Candidates who have passed class X examinations conducted by any examining body constituted by the Law in India or an exam that is recognized by the Government as equivalent thereto may register for CPT.


Examination pattern :
It is an objective type examination and consists of 200 multiple choice questions. CPT covers four basic subjects divided into two sections viz.

1.Accounting (60 Marks) + Mercantile Laws (40 Marks)

2.Economics (50 Marks) + Quantitative Aptitude (50 Marks).

Every incorrect answer on the CPT exam carries a 0.25 negative mark. A candidate is required to secure a minimum of 30 per cent marks in each Section and a minimum of 50 per cent marks in aggregate, in all the four Sections to pass the Common Proficiency Test


Exam Dates :

CPT exams are held in June and December in paper pencil mode. On-line CPT exams are also conducted periodically. Last CPT exam was held on 13 December 2015. Next CPT exam will be held in june 2016.


Syllabus of the Examination :

ESSION I

Section A: Fundamentals of Accounting (60 Marks)

Objective:To develop conceptual understanding of the fundamentals of
financial accounting system.

Contents:

1. Theoretical Framework

(a) Meaning and Scope of accounting

(b) Accounting Concepts, Principles and Conventions

(c) Accounting Standards –concepts, objectives, benefits

(d) Accounting Policies

(e) 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, reissue of forfeited shares, redemption of preference
shares

Section B: Mercantile Laws (40 Marks)

Objective:To test the general comprehension of elements of mercantile law

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 Indian Partnership Act, 1932:General Nature of Partnership–Rights and
duties of partners –Registration and dissolution of a firm.