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CA FOUNDATION

Introduction: CA Foundation exam is an entry-level exam for students interested to pursue a career in Chartered Accountancy. CA Foundation Exam is conducted by the Institute of Chartered Accountants of India (ICAI) twice a year. It is a national level exam that consists of four papers.

Overview

As per newly inserted Regulation 25E in the Chartered Accountants Regulations, 1988, you have to fulfil the following criteria to register yourself for the Foundation Course of ICAI. That means you will be eligible for registration in CA Foundation Course if you have:

1) Appeared in 12th Class Exam:

Senior Secondary (10+2) i.e. Higher Secondary (HS) Examination conducted by an examining body constituted by law in India; or

2) Appeared in 10+2 Equivalent Exam:

An examination recognised by the Central Government (CG) or the State Government (SG) as equivalent to 12th Class examination for the purpose of admission to graduation course.

Paper 1: Principles and Practices of Accounting (Three Hours- 100 Marks)
Paper 2: Mercantile Law & General English (Three Hours- 100 Marks)

Part I: Mercantile Law (60 Marks)
Part II: General English (40 Marks)

Paper 3: Business Mathematics and Logical Reasoning & Statistics (Three Hours- 100 Marks)

Part I: Business Mathematics and Logical Reasoning (60 Marks) Part II: Statistics (40 Marks)

Paper 4: Business Economics & Business and Commercial Knowledge (Three Hours- 100 Marks)

Part I: Business Economics (60 Marks)
Part II: Business and Commercial Knowledge (40 Marks)

Note that Paper-3 and Paper-4 will be Objective type papers.

In accordance with the newly inserted Regulation 25F, the following candidates shall be eligible for admission to the CA Foundation Examination to be conducted by the CA Institute.

1) Register with ICAI:

You have to register with the Board of Studies (BOS) of the Institute of Chartered Accountants of India on or before the following last date:

For May term of CA Foundation Exam: 31st day of December Last Year.

For December term of CA Foundation Exam: 30th day of June of Current Year.

In other words, the last date to register with ICAI for eligible to appear in the CA Foundation Examination to be held in the months of November or May is 30th day of June or 31st day of December respectively.

2) Class XII Passed Candidates:

You have passed the Senior Secondary (10+2) examination conducted by an examining body constituted by law in India or an examination recognised by the Central Government or the State Government as equivalent thereto for the purpose of admission to graduation course.

According to newly inserted Regulation 36B, a candidate for the CA Foundation Examination shall ordinarily be declared to have passed the examination if the candidate:

Obtains at one sitting a minimum of forty per cent. (40%) marks in each paper; and

A minimum of fifty per cent. (50%) marks in the aggregate of all the papers.

Note that the Council of CA Institute has approved the criteria of negative marking for Papers 3 & 4 only and not for subjective papers i.e. 1 & 2.