CA Foundation 2021

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CA Foundation

A career path that offers highly rewarding and electrifying career opportunities, persuing 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 foundation course and the dates related to it. 

CA Foundation Exam 2021 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 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 2021

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

Event Date
Last Date of Submission 4th May 2021
CA Foundation Examination Dates 24th, 26th, 28th & 30 June 2021
Result Announced July 2021 (Tentative)
CA Intermediate Exam 5th July 2021 (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 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:

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

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. 

  1. Self-attested print out of your application
  2. Attested copy of admit card/ marksheet of class 12th
  3. One recent coloured photograph of yourself
  4. Attested copy of proof of nationality
  5. Attested copy of category certificate, if any
  6. 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
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 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

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
Total Rs. 9800 $780

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 2021.
  • 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 Rs1500
Kathmandu Centres Rs2200
Overseas Centres $325

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

Is CA Foundation easy to pass?

CA Foundation exam is not an easy paper. It contains subjective and objective questions which can be tricky as well as lengthy.

Is CA Foundation exam Cancelled?

No, the CA Foundation exam has not been cancelled. The exam will be conducted in the month of June as stated on the website.

What is the syllabus of the CA Foundation exam?

The CA exam contains a lot of topics: Mathematics, Accounting, Business Law, Economics etc

What is the eligibility criteria?

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. 

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2 comments
    1. Hi Chaya!

      Please check the official website to know exam dates and deadlines for the year 2021! Hope this helps.

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