CA Foundation

CPT

The CA Foundation Exam is the first level of the CA Examination conducted by the ICAI or the Institute of Chartered Accountants of India to produce chartered accountants eligible to practice in India. In this article I will be providing candidates an insight into the CA Foundation course.

Eligibility criteria for CA Foundation Exam are as follows:

  • Candidates who have passed their class 12 examination from a recognized school/institution are eligible to appear in the CA Foundation Exam.
  • Candidates who are graduates/post graduates in commerce and who have scored a minimum of 55% marks or an equivalent grade in the qualifying examination of their degree OR candidates who are graduates/post graduates in some other discipline and who have secured 60% marks or equivalent grade in the qualifying exam of their degree are exempted from the CA Foundation Exam and can appear directly for the higher level examination.  

Here are the details of the CA Foundation Exam:

  • Candidates are expected to clear 4 papers of 100 marks each.
  • Paper 1 is on Principles and Practice of Accounting which comprises of topics like Theoretical Framework, Accounting Process, Inventories etc.
  • Paper 2 is on Business Laws and Business Corresponding and Recording which comprises of topics like The Indian Contract Act, 1872, The Indian Partnership Act 1932 etc.
  • Paper 3 is on Business Mathematics, Logical Reasoning and Statistics comprising of topics like Permutations and Combinations, Sequence and Series, Direction Tests, Seating Arrangements etc.
  • Paper 4 is on Business Economics and Business and Commercial Knowledge comprising of topics like Business Cycles, Theory of Production and Cost etc.
  • Each paper comprises of 100 questions making a total of 400 marks and there is a negative mark of -1/4 marks for the objective type papers.

The duration for each paper is 3 hours. The medium of examination is English/Hindi as per the candidate’s choice. The CA Foundation Exam is the first step in the entire CA process and is the stepping stone towards much higher goals. Once a candidate clears the Foundation it means that he/she is well on his/her way to higher things. Thorough and early preparation is a must.