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 2022 Key Highlights
|Exam Name||CA Foundation|
|Conducted by||Institute of Chartered Accountants of India (ICAI)|
|Eligibility||Completed Class 12th|
|Mode of Exam||Offline|
|Duration of Exam||3+2 hours|
|Frequency||Multiple Times a Year|
This Blog Includes:
- CA Foundation Exam 2022 Key Highlights
- What is Chartered Accountancy?
- What is CA Foundation?
- Important Events 2022
- CA Foundation: Eligibility Criteria
- How to Register for CA Foundation?
- How to Prepare for CA Foundation Exams
- CA Foundation Result
- Documents to Submit for CA Foundation
- CA Foundation Syllabus
- CA Exam Pattern
- CA Foundation Registration Fees
- CA Foundation Admit Card
- Exam Centre Fees
- CA Foundation Exam Centres
- Language Preference
What is Chartered Accountancy?
Chartered Accountancy is a professional field which can be simply termed as the management of finances, accounting and taxation for an organisation or any business entity. Chartered Accountant is a globally professional designation granted to certified accounting professionals across the globe. CAs handle various responsibilities in an organisation 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 2022
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 an 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
|Last Date of Submission||4th May 2022|
|CA Foundation Examination Dates||24th, 26th, 28th & 30 June 2022|
|Result Announced||July 2022 (Tentative)|
|CA Intermediate Exam||5th July 2022 (onwards)|
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 the online application form on ICAI Website.
- You can find the application in ‘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 print out of your application
- Attested copy of admit card/ marksheet of class 12th
- One recent coloured photograph of yourself
- Attested copy of proof of nationality
- Attested copy of category certificate, if any
- Attested copy of Class 10th marksheet
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 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
|Paper 3: Business Mathematics, Logical Reasoning, and Statistics||Part A – Business Mathematics
Part B – Logical Reasoning
Part C – Statistics
|Paper 4: Business Economics and Business & Commercial Knowledge||Part A – Business Economics
Part B – Business and Commercial Knowledge
Note: While there will be no negative marking for Paper 1 & 2, ⅓ of the total allotted marks to the question will be deducted for wrong answers in Paper 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 wrong answer|
|Business Economics And Business & Commercial Knowledge||Business Economics- 60 Business and Commercial Knowledge- 40||Objective||0.25 deduction for wrong answer|
CA Foundation Registration Fees
|Fees Distribution||Indian National Students||Foreign Nationals (Including SAARC Countries)|
|Prospectus||Rs. 200||$20 (US)|
|Registration Fees||Rs. 9000||$700|
|Students Journal (Optional Subscription for a year)||Rs. 200||$20|
|Members Journal (Optional Subscription for a year)||Rs. 400||$40|
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 centre 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 the your account
- Press on the option to download and view the admit card for CA foundation 2022.
- 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
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.
All candidates interested in appearing for the CA Foundation Examination can choose between English or Hindi as their medium of language for the exam.
CA Foundation exam is not an easy paper. It contains subjective and objective questions which can be tricky as well as lengthy.
No, the CA Foundation exam has not been cancelled. The exam will be conducted in the month of June as stated on the website.
The CA exam contains a lot of topics: Mathematics, Accounting, Business Law, Economics etc
The candidate must have completed their 10+2 examination i.e. senior secondary level or its equivalent from a recognized board or university.
The CA Foundation course is very exhaustive and needless to say, one needs to put in great efforts to clear the exam with flying colours. If you are planning to study Accountant courses or other professional courses after 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 counsellors at Leverage Edu and get all your career-related queries answered.