The Institute of Chartered Accountants of India (ICAI) provides the three-level program comprising Foundation, Intermediate, and Final courses.
CA Foundation is the entry-level examination in Chartered Accountancy; it tests whether the candidates are capable to pursue the CA program or not.
Here's everything you need to know about CA Foundation.
Who is eligible to pursue the CA Foundation Course?
The minimum eligibility to pursue CA Foundation is 10+2 examination (or equivalent) from any recognized education board.
After completing 10+2, students can enroll for the entry-level course. Next, they should complete a study period of at least four months following which they can appear for the CA Foundation examinations.
Foundation Examinations are held twice every year - in May and November.
Next, they should print the online registration form, sign and submit it along with copies of Class-12 admit-card/marksheet, passport photo, special category certificate (if applicable), Class-10 admit-card/marksheet indicating name and date of birth to their regional ICAI office.
Different papers in CA Foundation and passing criteria
CA Foundation comprises four subjects/papers: Paper-I Principles and Practices of Accounting (subjective), Paper-II Business Laws and Business Correspondence and Reporting (subjective), Paper-III Business Mathematics and Logical Reasoning & Statistics (objective), and Paper-IV Business Economics & Business and Commercial Knowledge (objective).
Objective papers have negative marking. To qualify, candidates should secure at least 40% in each paper and minimum 50% in aggregate of all papers.
Exam pattern of the four CA Foundation papers
While Paper-I of CA Foundation doesn't contain any sections, Paper-II consists of Section-A Business Laws (60 marks) and Section-B Business Correspondence and Reporting (40 marks).
Paper-III contains three sections: Section-A Business Mathematics (40 marks), Section-B Logical Reasoning (20 marks), and Section-C: Statistics (40 marks).
Paper-IV consists of Section-A Business Economics (60 marks) and Business and Commercial Knowledge (40 marks).
Each paper carries 100 marks; exams conducted in offline mode
Each paper carries 100 marks; so they constitute a total of 400 marks. The maximum duration for each paper is three hours; the exams are conducted in the offline mode and the medium of the test is either English or Hindi.