CA Foundation 2023

A career path that offers highly rewarding and electrifying career opportunities, pursuing CA after graduation has been a focal point of attention for decades. CA Foundation Test is opted by students who want to build a career in the field of Finance, Economics, Law, and Accounts, Chartered Accountancy improves one’s understanding of Taxation and Auditing, Budgeting, Cost Accounting, Consulting, and Financial Management with respect to an organization. So, if you have the zeal to handle a pivotal position in this highly gratifying field of Accountancy, then pursuing CA is one of the most suitable options. It is counted amongst the toughest exams in the world. In this blog, we would dwell upon the key details of the CA foundation exam, course and the dates related to it. 

CA Foundation Exam 2023 Key Highlights

Exam Name	CA Foundation
Conducted by	Institute of Chartered Accountants of India (ICAI)
Exam Level	National
Eligibility	Completed Class 12th
Mode of Exam	Offline
Duration of Exam	3+2 hours
Frequency	Multiple Times a Year

What is Chartered Accountancy?

Chartered Accountancy is a professional field that can be simply termed as the management of finances, accounting, and taxation for an organization or any business entity. Chartered Accountant is a global professional designation granted to certified accounting professionals across the globe. CAs handle various responsibilities in an organization such as management accounting, financial accounting, and reporting, applied taxation or finance, audit, and assurance, amongst others. To become a Chartered Accountant in India, you need to complete the CA course by the Institute of Chartered Accountants of India (ICAI).

What is CA Foundation?

CA Foundation is an entry-level examination that is taken by students who aim to become Chartered Accountants. CA Foundation course has replaced the previously taken Common Proficiency Test (CPT). The test has two sections: objective and Subjective sections. 

Important Events 2023

There are certain significant events related to the CA foundation course such as the form filling, dates of the examination, etc, that one needs to pay heed to. With registration conducted in online mode, this exam can be given either in Hindi or English mediums. Further, once registered, the information stays valid for three years i.e. up to six attempts. The candidates also have the option of extending the registration for further 3 years by paying Rs. 300/- as revalidation fees. Mentioned below are a few of the essential details pertaining to the exam: 

CA Foundation Dates 2023

Event	Date
Foundation Registration Last Date May 2023	Jan 1, 2023
Foundation Registration Last Date Nov 2023	July 1, 2023

Note: There will be no advance reading time in Paper 3 and Paper 4 of the examination but 15 minutes will be allotted to the students for the other two papers. 

CA Foundation: Eligibility Criteria 

Before filling out the form, one must pay heed to certain eligibility criteria that are rudimentary to the application process. The ICAI requires the following conditions to be completed before one appears for the CA foundation: 

• The candidate must have completed their 10+2 examination i.e. senior secondary level or its equivalent from a recognized board or university. 
• Applicants must complete a rigorous training period of 4 months and register by 31st June (for the November exam) or 31st December (for the May exam). This is done so as to establish that only focused candidates appear for it. 

How to Register for CA Foundation?

Registering yourself for CA Foundation is fairly easy. Just make sure that you are eligible for the exam. Here are the steps that you need to follow:

• Fill out the online application form on ICAI Website. 
• You can find the application in the ‘Students Tab’ under ‘Course Registration Forms’.
• After entering all the required information, make sure to pay the online registration fees.
• On successful payment, the system will generate a form that you need to download and print for further use.

How to Prepare for CA Foundation Exams

Students who are taking the CA Foundation test for the first time have little experience with preparation. We are offering you experienced assistance that will assist you in achieving a good CA Foundation outcome.

Prepare a Time-Table

Preparing a schedule is the first step before beginning your study. Those pupils who believe that setting a schedule is a waste of time have made a miscalculation. Make a suitable strategy instead of wasting time every day pondering what to learn or where to begin.

Join the proper coaching 

Teachers have a significant impact on a student’s success or failure. Many students pass this test without any help and with only passing grades. However, I must caution you, students, that clarity on ideas is critical from the beginning since Chartered Accountancy is a long path in which you will be referred to as an expert, and competent CA Foundation/ CA CPT tutoring can greatly assist you in acquiring clarity on your concepts.

Focus on Statistics and Logical Reasoning

Because CA Foundation Maths does not appear to be a scoring topic for Non-Maths commerce students, it is recommended that they concentrate on Statistics and Logical Reasoning. Logical thinking is worth 20 points, while the remaining marks are split evenly between Math and Statistics.

Prepare Your Own Revision Notes

Because the course is so large that it’s nearly impossible to revise in a single day, the ideal source notes for test revision are your own handwritten notes.

Command Over Calculator

The ICAI does not want its students to undertake manual labor, which is why calculators are allowed in CA examinations. Because papers are typically lengthy, mastering the calculator has become critical.

Model Test Papers

CA Foundation Model Test papers have shown to be really beneficial in passing the test. They taught you how to manage your time and appropriately assess questions. Of course, once you’ve finished the course, you should solve the CA Foundation sample test papers.

Revision in the last month

Set a goal of finishing your course in three months, including the first revision, saving the last month for the final two revisions, and answering prior attempts and mock test papers. In the month following the exam, you cannot squander time solving the question.

CA Foundation Result

The CA Foundation course result will be announced around two months following the tests. CA Foundation Results can be seen on the ICAI website, by SMS, or via email. On our site, you may find instructions for getting your results as well as the toppers list and pass %. If a student achieves a score of more than 70%, he will be awarded a certificate from the ICAI, titled “Pass with Distinction.”

Documents to Submit for CA Foundation

Once you have finished filling out the form, you need to submit the following document within 7 days of the online registration. 

• Self-attested printout of your application
• Attested copy of admit card/ mark sheet of class 12th
• One recent colored photograph of yourself
• Attested copy of proof of nationality
• Attested copy of category certificate, if any
• Attested copy of Class 10th mark sheet

You need to post these documents to the regional office. Details of the same are available on the ICAI website. 

CA Foundation Syllabus

From inventories, financial statements, and production and costs to communication skills, business organizations, and regulatory bodies, the entry-level exam to become a CA covers many subjects comprehensively. While papers 1 and 2 are objective in nature, the other 2 are subjective. To clear the CA foundation course, the candidates have to secure a minimum of 40% in every paper and 50% overall. With maximum of 400 marks and topics bifurcated into 4 papers, given below is the exam pattern of the CA foundation: 

CA Foundation Papers	Sections	Marks
Paper 1: Principles and Practises of Accounting	–	100
Paper 2: Business Law and Business Correspondence and Reporting	Section A – Business Law  Section B – Business Correspondence and Reporting:  Part l – Communication Part ll – Sentence Type and Word Power Part lll – Comprehension Passage and Note Making Part lV – Developing Writing Skills	60 40
Paper 3: Business Mathematics, Logical Reasoning, and Statistics	Part A – Business Mathematics   Part B – Logical Reasoning  Part C – Statistics	40 20 40
Paper 4: Business Economics and Business & Commercial Knowledge	Part A – Business Economics Part B – Business and Commercial Knowledge	60 40

Note:  While there will be no negative marking for Papers 1 & 2, ⅓ of the total allotted marks to the question will be deducted for wrong answers in Papers 3 & 4 

CA Exam Pattern

The CA Foundation exam has a stringent exam pattern. Paper 1 and Paper 2 must be completed in 3 hours. Paper 3 and Paper 4 must be completed in 2 hours. 

Exam	Maximum Marks	Exam Type	Negative Marking
Principles And Practice Of Accounting	100	Subjective	No
Business Laws And Business Correspondence	Business Laws- 60 Business correspondence -40	Subjective	No
Business Mathematics, Logical Reasoning, And Statistics	Business Mathematics- 40 Logical Reasoning- 20 Statistics- 40	Objective	0.25 deduction for the wrong answer
Business Economics And Business & Commercial Knowledge	Business Economics- 60 Business and Commercial Knowledge- 40	Objective	0.25 deduction for the wrong answer

CA Foundation Registration Fees

Fees Distribution	Indian National Students	Foreign Nationals (Including SAARC Countries)
Prospectus	Rs. 200	$20 (INR 1,634)
Registration Fees	Rs. 9000	$700 (INR 57,198)
Students Journal (Optional Subscription for a year)	Rs. 200	$20 (INR 1,634)
Members Journal (Optional Subscription for a year)	Rs. 400	$40 (INR 3,268)
Total	Rs. 9800	$780 (INR 63,735)

CA Foundation Admit Card

ICAI is responsible for releasing the CA Foundation admit card on the official website prior to the commencement of exams. Students are required to carry the admit card with them to the exam center for entry purposes. Here is a step-by-step guide on how to download CA admit card-

• Visit the ICAI official website and login to your account
• Press on the option to download and view the admit card for CA foundation 2023.
• Check and verify the details before downloading it
• Download the card if there are no errors otherwise contact the ICAI helpdesk to inform the authorities.

Exam Centre Fees

Indian Centres	Rs 1500
Kathmandu Centres	Rs 2200
Overseas Centres	$325 (INR 26,556)

CA Foundation Exam Centres

The Exam will be conducted in all states and cities of India on the assigned dates with respect to all COVID safety measures. CA Foundation exam is also conducted in 8 overseas destinations which are: Dubai, Abu Dhabi, Doha, Kuwait, Kathmandu, Muscat, Kampala, and Bahrain.

Language Preference

All candidates interested in appearing for the CA Foundation Examination can choose between English or Hindi as their medium of language for the exam.

FAQs

The CA Foundation course is very exhaustive and needless to say, one needs to put in great effort to clear the exam with flying colors. If you are planning to study Accountant courses or other professional courses after the 12th Commerce stream before starting with the preparation for CA, but have any doubts or apprehensions regarding it then get in touch with our expert counselors at Leverage Edu and get all your career-related queries answered.