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About IPC

About IPC

Duration: 6 Month(s)

Intermediate (Integrated Professional Competence) Course:
IPC or Integrated Professional Competence Course is the second level of Chartered Accountancy examinations - Subjects covered in Intermediate (IPC) Course
Group I
  Paper 1: Accounting (100 Marks)
 Paper 2: Business Laws, Ethics and Communication (100 Marks)
    Part I: Business Laws (60 Marks) comprising
              Business Laws (30 Marks)
              Company Law (30 Marks)
    Part II: Ethics (20 Marks)
    Part III: Communication (20 Marks)
  Paper 3: Cost Accounting and Financial Management
    Part I: Cost Accounting (50 Marks)
    Part II: Financial Management (50 Marks)
  Paper 4: Taxation
    Part I: Income-tax (50 Marks)
    Part II: Service Tax (25 Marks) and
              VAT (25 marks)
Group II
  Paper 5: Advanced Accounting (100 Marks)
 Paper 6: Auditing and Assurance (100 Marks)
                        Paper 7: Information Technology and Strategic Management
            Section A: Information Technology (50 Marks)
            Section B: Strategic Management (50 Marks)
Eligibility Requirement for Registration: Following three categories of students can register for Intermediate Category A: Student who has passed CPT and 10+2 examination Category B: Graduate or Post Graduate from Commerce / Non Commerce stream exempted from CPT as above. Category C: Students who passed Intermediate exam of Institute of Cost Accountants of India or Institute of Company Secretaries of India
Provisional Registration: Students who are pursuing the Final year of Graduation Course shall be eligible for provisional registration to the Intermediate (Integrated Professional Competence) Course. Such students would be required to submit satisfactory proof of having passed the graduation examination with the specified percentage of marks within six months, from the date of appearance in the final year graduation examination. During period of provisional registration student can undergo Information Technology Training and Orientation Course.
Eligibility to appear in Intermediate (IPC) Exam:
 For students coming from CPT route (i.e. Category A): A student registered for Intermediate (Integrated Professional Competence) Course on basis of passing CPT may appear for the examination, provided Student has passed CPT and 10+2 examination and Student has registered for the Intermediate (Integrated Professional Competence) Course at least 8 months before examination.
For Commerce / Non Commerce Graduates (i.e. Category B): A student who has registered for Intermediate (Integrated Professional Competence) Course on basis of Graduation may appear for examination provided he has completed 9 months of practical training i.e. Articleship and registered for the Intermediate (Integrated Professional Competence) Course at least nine months before exam.
For Students of other Professional bodies (i.e. Category C): A student who has registered for Intermediate (Integrated Professional Competence) Course on basis of passing Intermediate exam of Institute of Cost Accountants of India OR Institute of Company Secretaries of India may appear for examination provided he has registered for the Intermediate (Integrated Professional Competence) Course at least Eight months before exam.
Passing Criteria: A student needs to secure 40% marks in individual subjects and aggregate of 50% in order to pass the Intermediate (Integrated Professional Competence) Examination.
• Practical training (Articled Training): Student has to undergo three years of Articleship with Practicing Chartered Accountant as part of course structure. During Articleship students have to undergo Two General Management and Communication Skills (GMCS) Programme of 15 days each with ICAI itself. Articleship can be done anywhere in India. Admission criteria for Articleship is as follows -
For Category A : Articleship will start only after passing Group - I OR Both Groups of the Intermediate (Integrated Professional Competence) Course AND completion of 100 hours Information Technology Training (ITT) and 35 hours Orientation Course with ICAI. Student can appear for Group II exam during Articleship if already not cleared.
For Category B : These students shall be eligible for admission to three years articled training, on completion of 100 hours Information Technology Training (ITT) and 35 hours Orientation Course with ICAI. These students will be appearing for Intermediate Group I and Group II exam during Articleship.
For Category C : These Students shall be eligible for admission to three years articled training on passing Group - I or Both Groups of the Intermediate (Integrated Professional Competence) Examination AND completion of 100 hours Information Technology Training (ITT) and 35 hours Orientation Course with ICAI.
ITT & Orientation: A student has to register and undergo orientation programme of 35 hours & 100 hours ITT before registering for Articleship. Both programs are conducted by ICAI branches. Registration has to be done with ICAI.
Registration Fee: Registration fee is Rs. 11,000 for both groups of IPCC including Fee for Articleship. Fee for ITT is Rs. 4,000 and fee for Orientation is Rs. 3,000
Exam Schedule: IPCC exam is conducted twice a year i.e. May and November.
Student Registered on the basis of Graduation- Student has completed nine months of practical training i.e. Articleship and registered for the Intermediate (Integrated Professional Competence) Course.
Option to give both Groups: Student may register for both groups. However he may appear for Both Groups simultaneously OR appear for Group I first, then start Articleship and then appear for Group II during the Articleship.
Passing Criteria for IPCC:
• If Student appears for Both Groups simultaneously: A student will be declared to have passed if he secures in one sitting Minimum 40% marks in each paper of Both Groups AND Minimum 50% marks in the aggregate of all the papers of both Groups taken together.
• If Student appears for only one Group: A student will be declared to have passed if he secures in one sitting Minimum 40% marks in each paper of the Group AND Minimum 50% marks in the aggregate of all the papers of that Group.
• Exemption: If student fails in Group but gets 60 or more marks in any of the subject, he will be declared as passed in that subject.
• In case of failure in any one subject he has to reappear for all subjects of that group which are not exempt