About Certification

About Certification
International Institute of Certified Accountants

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IICA Certified Accountant Analytical Test (I-CAAT)

IICA Certified Accountant Analytical Test (I-CAAT) is designed to evaluate the level of proficiency carried by aspirants of accounting profession. I-CAAT Test is designed by IICA Research committee in such a way that he will be tested for his ability to handle Accounting Job in a practical situation. Questions of I-CAAT examination is set in line with solving situation that would be faced by him if he is put to accounting jobs in a company or corporate atmosphere in reality. For this purpose IICA Research committee have developed projects on accounting model of corporate companies and I-CAAT questions are drawn from these projects. Scoring of I-CAAT Exam would be helpful to assess the ability of examinee to handle responsibilities while practicing the profession of accountancy. Based on I-CAAT ratings an aspirant of Accounting Profession could be categorised into different levels of ability to handle accounting jobs.A person who have undergone I-CAAT evaluation will be deemed to be qualified only if he secures 60% and above ratings in the evaluation test. Based upon the marks scored by the candidate , level of certification will be declared and notified by a symbol according to the table of rating provided below :

STAGE	RATING	LEVEL	INDICATOR	SYMBOL	ASSESSMENT
I	60% - 69%	Good	Green		Can join an entry level jobs of accountancy as assistant accountant.
II	70% - 79%	Very Good	Bronze		Can be moulded for handling the post of an Accountant in small scale business concerns with ease.
III	80% - 89%	Excellent	Silver		Can be trained for handling the job of Accountant in Medium Scale Companies.
IV	90% - 99%	Outstanding	Gold		Would be able to work as an assistant accounts manager if properly trained. Could independently handle the accounts department of small and medium companies.
V	100%	Perfect	Certified		This level of analytical skill ensure that he can be moulded with proper training to handle the job of Accounts Manager of medium scale companies and could work as Accountant with corporate companies.

Title Awarded

Every candidate who have successfully qualified I-CAAT evaluation test will be granted the title of “CERTIFIED ACCOUNTANT” and will be conferred with the right to use registered trademark of the institute as reproduced here subject to the conditions wherever seems fit for advancement and development of profession of accountancy.

Forum Membership	Verification of Certificate
Every qualified candidate of I-CAAT evaluation test will be honored with the Certificate of Membership granting entry to the elite forum of accountants hosted online by IICA at www.certifiedaccountants.club	Authenticity of Membership Certificate issued to the candidate can be verified by any concernedperson from any part of the world by online at www.iica.us the official website of International Institute of Certified Accountants (IICA)

Purpose of I-CAAT

The purpose of conducting I-CAAT evaluation test is to ensure entry of only qualified accountants as members of the elite forum of accountants hosted online by IICA at www.certifiedaccountants.club. Through I-CAAT a person is tested for various skills that must be inherent in a person to be called as an Accountant. I-CAAT constitutes a set of questions asked from a project of practical simulated accounts of a corporate company where generally maintained accounting books in a manual accounting atmosphere , which are the base of Double Entry Accounting system , such as Day Book , Journal Entries , Cash Book , Purchase Book , Purchase Return Book , Sales Book , Sales Return Book , Bank Book , Stock Registers , and other Ledgers for a particular period is provided to the candidate. Questions are asked from these books such that each questions asked are those similar to queries expected to be asked by these candidates by his superior managers as if he were actually being put to the job of an Accountant. So this evaluation test actually measures one’s ability and efficiency to handle the Accountant’s job in real times. If he is able to solve I-CAAT question then he would definitely be able to solve the same situation in actual circumstances. I-CAAT is designed to be a measuring rode of an Accountant’s potentials including :

• Periodic Appraisal:	Ability to extract reports and informations for a particular period from books of Accounts.
• Calculation Accuracy :	Accuracy and Accounts are synonyms and mathematical accuracy is must for accountants.
• Double Entry Expertise :	Ability to pass accurate Double Entries for transactions as double entry is the breath air of a perfect accounting system .
• Inventory Valuation :	Ability to identify products and product groups , rate averaging ,calculating stock balances, recognize issues , receipts and returns, calculate cost of sales.
• Cash Management :	Ability to accurately report all cash related queries and vigilant attitude towards cash as cash is the most liquid and vulnerable asset.
• Receivables & Payables Monitoring :	Ability to be forecasted and alert about the short term assets and liabilities in the form of creditors and debtors discharged duly and daily.
• Preparation of Financial Statements :	Ability to prepare Profit & Loss Accounts and Balance Sheet with respect to any period.
• Analytical & Appraisal Skill :	Ability to scan Accounts as a whole with respect to period , date, amount , averages, account heads, product categories etc.
• Classification & Categorisation :	Ability to identify nature of transaction and bring under particular suitable accounting heads.
• Sales & Purchase Evaluation :	Ability to calculate , categorise, report and analyse sales and purchases in terms of cash and credit.
• Identify Customers & Suppliers :	Ability to properly charge customers and suppliers with transaction amounts without any mismatch and mistake.
• Fixed Assets Appraisal :	Ability to differentiate capital expenditures from revenue expenses , identify and categorise transactions to proper blocks of fixed assets.
• Maintaining Bank Books :	Abiity to properly calculate and report bank account transactions and correctly figure out balances of different bank accounts.
• Reporting & Extraction Skill :	Ability to report and answer queries from accounts and extract accounting informations from books of accounts.
• Auditing & Tracing Aptitute :	Ability to verify accounting entries and postings from subsidiary books to ledger with respect to correctness of date, amount, accounting heads and dr/cr aspects.
• Cash Flow & Fund Flow Analysis :	Ability to properly trace out financial flows and movement of funds through various transactions.
• Financial Ratios :	Ability to calculate and analyze financial ratios and draw out the health indicators of the business.

Eligibility for Writing I-CAAT

Anyone who is having an aspiration towards profession of accountancy and have undergone some sort of practical or educational intuition about doing maintaining and preparation of accounts or who have knowledge of double entry bookkeeping system.