Frequently Asked Questions:

Q1. Please give a brief introduction of Ummul Qura Education Foundation.
Ans:- Ummul Qura Education Foundation is an organization for the promotion and facilitation in preparation for professional courses and competitive examinations among those who offer five times namaz.
Q2. Who are the people associated with this organization?
Ans :- A group of Chartered Accountants and professors are associated with this organization.
Q3 :- What is this course of Chartered Accountancy exactly?
Ans :- Chartered Accountancy is a course containing education as well as training, imparted by the Institute of Chartered Accountants of India. ICAI has been established by an act of Parliament in 1949. This is the only institution in India which is authorized to conduct this course. The contents of this course are mainly accountancy, auditing, costing, and different taxation and business laws. For detailed information regarding requirements to become a Chartered Accountant, please refer to the website www.icai.org.
Q4 :- What is the duration of this course?
Ans :- The duration is approximately four and a half years. One has to pass mainly three examinations. i. CPT ii. IPCC and iii. Final, as well as complete three years of training.
Q5 :- Can a student carry on his graduation with Chartered Accountancy Course?
Ans :- Yes
Q6 :- What are the opportunities after becoming a Chartered Accountant ?
Ans :- You have three options.
1) Start your own Practice :A Chartered Accountant has numerous authorities to verify and report on a financial statement. If you have entrepreneurship and leadership skills, it is better to start your own practice. Again it is better to start your own practice in developed cities. There you can get higher rate of fees and areas of practice. If you opt to commence your own practice, you will have to invest and struggle in the beginning, but you can gain a lot in the long run.
2) Join a company in India as an employee : The normal salary for a fresh Chartered Accountant is around Rs. 60,000/- to Rs 70,000/- per month. Later on the increment depends on your improvement and exposure. The vacancy for Chartered Accountants is always available. You can start earning from the very first day.
3) Go abroad, mainly gulf countries : There are lots of opportunities, mainly for Muslim Chartered Accountants in gulf countries. The normal salary of a fresh Chartered Accountant in gulf is between Rs. 1,00,000/- per month to Rs 1,50,000/- per month.
It is also advisable to join some companies in gulf or Europian countries after becoming Chartered Accountant. Continue this employment three to four years. Save some fund during this period. Thereafter come back to India. Establish your own practice in a metropolitan city.
Q7 :- How will Ummul Qura Education Foundation help in the preparation of Chartered Accountancy?
Ans:- Ummul Qura Education Foundation will provide following facilities :-
1. Accommodation – with cot, bed, locker, washing machine, water purifier etc.
2. Reading room with relevant books.
3. Mess Facility and
4. Coaching by a very dedicated team of teachers
Exclusive Features:
i) Joint Study: A group of Namazi students shall pursue their Chartered Accountancy in one building. It will provide tremendous opportunities for interaction and group discussion among the students.
ii) Guidance of a group of Chartered Accountants: A group of Chartered Accountants will guide and check the level of preparation of each of the student on personal and regular basis. It will help the students in determining the stage of their preparation for examination.
iii) Interactions with scholars: Over and above, the toppers and rank holders of Chartered Accountancy course are invited to guide the students in the area of mode of study and presentation in examination etc.
iv) Tutorial Classes: A scientific approach of intensive coaching of the weak students has been taken. Small groups of students is formed, where each student interacts with another on a topic in a friendly manner. The difficulties of the weak student is assessed and special attention is taken to resolve them.
Q 8: What are the expenses if we join Ummul Qura Education Foundation?
Ans :- Approximately Rs.50,000/- to Rs. 60,000/- is spent on Accommodation, food, Library, Registration fees, Coaching Fee, Conveyance, Pocket Expenses etc per year. The details of the fee is available under the heading “Facilities” on this website.
Q 9: I am a students from Science back ground. Can I join Chartered Accountancy?
Ans:- Yes. We have seen that a student from Science back ground performs even better than a student of Commerce back ground.
Q10: I have done my schooling with Urdu medium. Can I do Chartered Accountancy?
Ans:- Yes. Many of our friends have qualified in Chartered Accountancy, even if they were students of Urdu medium during their school days
Q 11: Please explain the complete scheme of Chartered Accountancy in brief.
Ans:- Under the new scheme, the requirements for becoming chartered accountant are as follows:
(i) Enrol with the Institute for Common Proficiency Test after passing Class 10 examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto.
(ii) Appear and pass in CPT examination after appearing in the Senior Secondary Examination (10+2 examination) conducted by an examining body constituted by law in India or an examination recognised by the Central Government as equivalent thereto and after completion of specified period (i.e. 60 days) from the date of registration for CPT prior to the first day of the month in which examination to be held with the Board of Studies.
(iii) Join IPCC, and register for 100 hours ITT after passing CPT and 10+2 examination.
(iv) Appear and pass in 1st Group of IPCC after nine month of registration under IPCC.
(v) Join Articleship for 3 years. Pass 2nd Group of IPCC.
(iv) Undergo 100 hours ITT. (100 hours ITT is a 20 days programme @ five hours per day; the training will be treated as part of the practical training).
(vi) Join CA Final course:
•After passing IPCE register for Final course with the Board of Studies;
•Collect Study Materials of the Final Course and prepare for Final Examination;
•May undergo General Management and Communication Skills Course while undergoing Final course; and
(vii) Appear in final examination during last 6 months of Articleship.
(viii) Pass Final examination, complete articleship, and complete GMCS;
(ix) Enrol for membership.
Q 12: What is the syllabus of Chartered Accountancy?
Ans:
Syllabus –CPT (Common Proficiency Test)
Section A: Fundamentals of Accounting ( 60 Marks )
Section B: Mercantile Law ( 40 Marks )
Section C: General Economics ( 50 Marks )
Section D: Quantitative Aptitude ( 50 Marks )
Syllabus – PCC (Professional Competence Course)

Group I
Paper 1:Accounting (100 marks)
Paper 2:Law, Ethics and Communication
Part I: Law (60 marks)
Business Laws (30 marks)
Company Law (30 marks)
Part II: Business Ethics (20 marks)
Part III: Business 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)
Syllabus – FINAL
Group I
Paper 1: Financial Reporting (100 Marks)
Paper 2: Strategic Financial Management (100 Marks)
Paper 3: Advanced Auditing and Professional Ethics (100 Marks)
Paper 4: Corporate and Allied Laws (100 Marks)
Section A: Company Law (70 Marks)
Section B: Allied Laws (30 Marks)
Group II
Paper 5: Advanced Management Accounting (100 Marks)
Paper 6: Information Systems Control and Audit (100 Marks)
Paper 7: Direct Tax Laws (100 Marks)
Paper 8: Indirect Tax Laws (100 Marks)
Section A: Central Excise (40 Marks)
Section B: Service Tax & VAT (40 Marks)
Section C: Customs (20 Marks)