CA Foundation Exam

Get a Complete Course Guide on CA Foundation Exam 2024

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CA Foundation Exam

CA Foundation Exam: CA Foundation Exam is an entry-level exam for students who want to pursue a career in Chartered Accountancy. It is a national-level exam that includes 4 papers conducted by the Institute of Chartered Accountants of India (ICAI) twice a year once in May and in December. The students can only apply and appear for the CA Exam for Foundation course if they have cleared Class 12th.

Read further to get complete details about CA Foundation Exam, Syllabus, Exam Pattern, CA Foundation Books, CA foundation guide, and Papers.

CA Foundation 2024

ICAI Chartered Accountant Foundation is an entry-level test organized by ICAI for CA aspirants. You can appear in the exam every six months. 12th examination appearing aspirants can register for the CA Foundation course. The ICAI forms the difficult entry-level Chartered Accountant Foundation exam better than CPT.

Crack The Exam Easily and Chase Your Dream

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CA Foundation Exam | Overview

Here you can find an overview to follow in CA Foundation Exam 2024. You can register in May/ Nov every year to appear in the examination.

  • Eligibility –You should accomplish the 12th examination. As per CA Eligibility, then only, you will be eligible to get register for this course and appear for the exam.
  • Preparation – After completing registration, you will get four months to prepare for the exam. By creating a better CA Foundation Study Plan and with the best CA Study Materials for Foundation Exam, you can do perfect preparation.
  • Application Form – You have to fill out the CA Application Form through the ICAI portal for the Foundation exams.
  • Admit Card – The ICAI releases the CA Admit Card 21 days before the exams. You can easily download your admit card from the ICAI portal. Keep in mind that they will not send your admit card via post.
  • Error Correction – They are providing error correction facilities. You can easily apply for the correction of your application form. ICAI has provided the facility of two correction windows, each has a separate time limit.
  • One Month Preparation – You should prepare seriously in this period and check out for the best CA Preparation Tips. Revise the various topics you have covered earlier. Solve the mock test, previous exam papers, and CA foundation Jan 2024 question paper with solutions to build better time management skills in the exam, and develop confidence. It will help you to get a high score. You should prepare for a high score.
  • Result – You have to wait approximately two months to get the CA Result. You can easily check the CA Result via the official website of ICAI.

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ICAI CA Foundation Exam 2024

You can get a chance to attend the exam in six months. Generally, it is conducted in MAY and November. You can easily register for this course after appearing in the 12th examination or after passing the 12th Examination. 

You have to know the complete syllabus to make your high preparation level. The entire Foundation syllabus is divided into four subjects –

  1. Principles and Practices of Accounting
  2. Business Law and Business Correspondence and Reporting
  3. Business Mathematics and Logical Reasoning and Statistics
  4. Business Economics and Business and Commercial Knowledge

ICAI CA Foundation Exam | Registration Procedure

ICAI lets you the facility to apply online for the Chartered Accountant Foundation Exam. You can register via the ICAI portal. After filling in all respective details and paying fees online, you have to submit the CA Application Form online. Once the payment is successful, it will automatically generate the form which is required to get printed.

You should sign the printed form and send it within 7 days to their official address along with the following documents –

  • Your attested Copy of the Admit Card/ Marksheet of the class 12th examination issued by the respective board.
  • You should affix the latest colored photograph on the hard copy of such registration form.
  • If you are residing in another country, then attested a copy of proof of Nationality.
  • Attested copy of proof of special category certificate, i.e. ST/SC/OBC, differently-abled.
  • You have to provide an attested copy of the 10th Marksheet/ Admit card indicating the Name and Date of Birth.

Once the registration is accomplished, it will be valid for three years. After that, you have to pay a fee as decided by the ICAI.

If you want to appear for the exam in May/Nov 2024 and have not registered yet, then read this guide to know CA Foundation Complete Registration Procedure.

CA Foundation Registration Fees

You have to pay a fee to complete the registration. The CA Foundation Exam fee structure is as below.

S. No.

Details of Fees

Rupees

For Foreign Students (US $)

1.

Cost of Foundation Prospectus

200

20

2.

Foundation Registration Fees

9000

700

3.

Subscription for Students Journal (For one Year- Optional)

200

20

CA Foundation Exam Application Form

You will not be able to appear for the exam just after registration. You need to send the printed application form to the official address of ICAI. Note that, if your photograph and signature are already appearing on the PDF, then it is not required to send the hard copy/printout of such PDF to the Exam Department.

You have to send your printed form in an envelope (without folding) by speed post to the 

Joint Secretary Exam (Examination Department),

The Institute of Chartered Accountants of India,

ICAI Bhawan, Indraprastha Marg, New Delhi – 110002.

CA Foundation Exam Syllabus 2024

The students must check the syllabus of the ICAI Exams to know the subjects and topics that will be covered in the CA Foundation Exam so as to prepare accordingly. The CA Foundation Syllabus 2024 focuses on enhancing the students’ application skills & promoting comprehensive knowledge.

Paper 1 – Accounting

Objective: To develop an understanding of the basic concepts and principles of accounting and apply the same in preparing financial statements and simple problem-solving.

Topics

Sub Topics

Theoretical Framework

  1. Meaning and Scope of Accounting.

  2. Accounting concepts, principles and conventions.

  3. Capital and revenue expenditure, capital and revenue receipts,contingent assets and contingent liabilities.

  4. Accounting Policies.

  5. Accounting as a measurement discipline – valuation principles, accounting estimates. Accounting Standards-concepts and objectives.

Accounting Process

  1. Recording accounting transactions: principles of double entrybook-keeping, books of original entry-journal,subsidiary books,cash book, ledger-format,posting from journals and subsidiary books,balancing accounts.

  2. Preparation Of Trial Balance.

  3. Rectification Of Errors

Bank Reconciliation Statement

Introduction, reasons and preparation of bank reconciliation statement

Inventories

Meaning, basis and technique of inventory valuation, cost of inventory, net realisable value and record system

Depreciation and Amortisation

Tangible and intangible assets- meaning & difference, concepts,methods of computation and accounting treatment of depreciation/amortisation,change in depreciation method

Bills of Exchange and Promissory Notes

Meaning of bills of exchange and promissory notes and their accounting treatment; accommodation bills.

Preparation of Final accounts of Sole Proprietors

Elements of financial statements, closing adjustment entries, trading account,profit and loss account and balance sheet of manufacturing and non- manufacturing entities

Financial Statements of Not-for-Profit Organizations

Significance and preparation of receipt and payment account, income and expenditure account and balance sheet, difference between profit and loss account and income and expenditure account

Accounts from Incomplete Records (excluding preparation of accounts based on ratios).

–

Partnership And LLP Accounts

  1. Final accounts of partnership firms and LLP.

  2. Admission, retirement and death of a partner including treatment of goodwill.

  3. Dissolution of partnership firms and LLPs including piecemeal distribution of assets

Company Accounts

  1. Definition Of Shares And Debentures.


  1. Issue Shares And Debentures,forfeiture of shares,reissue of forfeited shares.


  1. Redemption of preference shares and debentures(excluding purchase and redemption of own debentures sinking fund method).


  1. Accounting For Bonus Issue And Right Issue.

Paper 2: Business Laws

Objective: To develop general legal knowledge of the law of Contracts, Sales and understanding of various forms of businesses and their functioning to regulate business environment and toacquiretheabilitytoaddress basic application-oriented issues

Topics

Sub Topics

Indian Regulatory Framework

Major Regulatory Bodies such as the Ministry of Finance, Ministry of Corporate Affairs, SEBI, RBI, IBBI, Ministry of Law and Justice, etc.

The Indian Contract Act, 1872

General Nature Of Contract, Consideration, Other essential elements of a valid contract,Performance Contract,Breach Of Contract, Contingent and Quasi Contract, Contract of Indemnity and Guarantee, Contract of Bailment and Pledge, Contract of Agency

The Sale of Goods Act, 1930

Formation of the contract of sale, Conditions and Warranties,Transfer of ownership and Delivery of goods,Unpaid seller and his rights.

The Indian Partnership Act, 1932

General Nature of Partnership, Rights and Duties of partners, Reconstitution of firms, Registration and Dissolution of a firm

The Limited Liability Partnership Act, 2008

Introduction-covering nature and scope, Essential features, Characteristics of LLP, Incorporation and Differences with other forms of organisations

The Companies Act, 2013

Essential features of company, Corporate veil theory, Classes of companies,Types of share capital, Incorporation of company, Memorandum of Association, Articles of Association, Doctrine of Indoor Management

The Negotiable Instruments Act, 1881

Meaning of Negotiable Instruments, Characteristics, Classification of Instruments, Different provisions relating to Negotiation, Presentment of Instruments, Rules of Compensation

Paper 3: Quantitative Aptitude

Objective:

  1. To develop an understanding of the basic mathematical and statistical tools and apply the same in business, finance and economic situations.

  2. To Develop logical reasoning skills.

Topics

Sub Topics

Part A: Business Mathematics

  

Ratio and proportion, Indices and Logarithms

Ratio and proportion and Time and work-related problems, Laws of Indices, Exponents and Logarithms and AntiLogarithms

Equations

Linear Equations Upto Three Variables, Quadratic and Cubic equations in one variable. Applications in Business Related Problems.

Linear Inequalities

Linear Inequalities in one and two variables and the solution space

Mathematics of Finance

  1. ◦ Simple Interest

  2. ◦ Compound Interest

  3. ◦ Nominal and Effective Rate of Interest

  4. ◦ Present Value

  5. ◦ Net Present Value

  6. ◦ Future Value

  7. ◦ Perpetuity

  8. ◦ Annuities

  9. ◦ SinkingFunds

  10. ◦ Calculating EMI

  11. Calculations of Returns:Nominal and Effective rate of Return

  12. Compound Annual Growth Rate(CAGR)

Permutations and Combinations

Basic concepts of Permutations and combinations: Introduction, the factorial, permutations, results, circular permutations, permutations with restrictions, Combinations With standard results

Sequence and Series

Introduction Sequences, Series, Arithmetic and Geometric progression,RelationshipbetweenAMandGMandSumofntermsofspecialseriesand BusinessApplications

Sets, Relations, and Functions. Basics of Limits and Continuity Functions

  

Basic applications of Differential and Integral calculus in Business and Economics (Excluding the trigonometric applications)

  

Part B: Logical Reasoning

Number series coding and Decoding and odd man out, Direction Tests, Seating Arrangements, Blood Relations

Part C: Statistics

  

Statistical Representation of Data

Diagrammatic representation of data, Frequency Distribution, Graphical representation of Frequency Distribution–Histogram, Frequency Polygon, Ogive, Pie-chart

Sampling

Basic principles of sampling theory, comparison between sample survey and complete enumeration, some important terms associated sampling type of sampling,sampling and non-sampling errors.

Measures of Central tendency and Dispersion

Mean Median, Mode, Mean Deviation, Quartiles and Quartile Deviation, Standard Deviation, Coefficient of Variation, Coefficient of Quartile Deviation

Probability

Independent and dependent events;mutually exclusive events.Total and Compound Probability and Bayes Theorem

Theoretical Distributions

Random variables, Discrete and Continuous Random variables, Expectation of a discrete random variable, Theoretical Distributions:Binomial Distribution, Poisson distribution–basic application and Normal Distribution–basic applications

Correlation and Regression

Scatter diagram, Karl Pearson’s Coefficient of Correlation Rank Correlation, Regression lines, Regression equations,Regression coefficients

Index Numbers

Uses of Index Numbers, Problems involved in construction Index Numbers,Methods of construction of Index Numbers.BSE SENSEX NSE

Paper 4: Business Economics

Objective: To develop an understanding of the concepts and theories of Economics and to acquire the ability for addressing application-oriented issues

Topics

Sub Topics

Introduction to Business Economics

Meaning and scope of Business Economics.


Basic Problems of an Economy and Role of Price Mechanism

Theory of Demand and Supply

  1. Meaning and Determinants of Demand, Law of Demand and Elasticity of Demand – Price, Income and Cross Elasticity.


  1. Theory of Consumer’s Behaviour –Indifference Curve approach.


  1. Meaning and Determinants of Supply, Law of Supply and Elasticity of Supply, Market Equilibrium and Social Efficiency

Theory of Production and Cost

  1. Meaning and Factors of Production, Short Run and Long Run.


  1. Law of Production–The Law of Variable Proportions and Laws of Returns to Scale,Producer’s Equilibrium.


  1. Concepts of Costs – Short-run and long-run costs, Average and Marginal Costs, Total, Fixed andVariable Costs

Price Determination in Different Markets

  1. Market Structures: Perfect Competition, Monopoly and Monopolistic Competition.Using Game Theory to study Oligopoly.


  1. Price Determination in these Markets.


  1. Price- Output Determination under different Market Forms

Determination of National Income

  1. Macro Economic Aggregates and Measurement of National Income

  2. Determination of National Income: Keynes’ Two Sector Basic Model,Three Sectors and Four Sectors Models

Business Cycles

Meaning, Phases, Features, Causes behind these Cycles

Public Finance

  1. Fiscal functions:AnOverview, Centre and StateFinance.

  2. MarketFailure/Government Intervention To Correct Market failure.

  3. Process of budget making: Sources of Revenue, Expenditure Management, and management of Public Debt.

  4. FiscalPolicy

Money Market

  1. Concept of Money Demand

  2. Important theories of Demand for Money

  3. Concept of Money Supply, Cryptocurrency Another New Terminology

  4. Monetary Policy

International Trade

  1. Theories of International Trade including theories of intra-industry trade Krugman.

  2. TradePolicy–TheInstrumentsofTradePolicy.

  3. TradeNegotiations.

  4. ExchangeRatesanditseconomiceffects.

  5. International Capital Movements: Foreign DirectInvestment

Indian Economy

  1. Before 1950- Chanakya and Nand Vansh

  2. OECDPaper (1950-1991),

  3. Basic knowledge 1991 Onwards

CA Foundation Exam Pattern

The Institute of Chartered Accountants of India (ICAI) has released the CA Foundation Exam Pattern. Before starting the preparation for the CA Foundation Exam, you must know the complete details of the exam pattern of the CA Foundation so as to prepare yourself efficiently and appear for the CA Foundation Exam with the confidence to get good scores.

It includes several aspects of the question paper like the medium and type of questions to be asked, distribution of marks, time limit, and many more. You must follow the below details as per the CA Foundation Exam Pattern:

Sl. No

Paper Name

 Marks

Type of Questions

Paper 1

Accounting

100 Marks

Subjective

Paper 2

Business Laws

100 Marks

Subjective

Paper 3

Quantitative Aptitude:


Part A: Business Mathematics

Part B: Logical Reasoning

Part C: Statistics

100 Marks


Part A: 40 Marks

Part B: 20 Marks

Part C: 40 Marks

Objective

Paper 4

Business Economics

100 Marks

Objective
  • You will have the option to choose a question paper in two languages such as English or Hindi.
  • Each paper includes a maximum of 100 marks and the exam duration of time is three hours for every paper.
  • Papers 1 & Paper 2 consist of subjective-type questions and Papers 3 & Paper 4 consist of MCQs.
  • There is a negative marking for wrong answers in objective types of questions and 1/4th mark is deducted for every wrong answer.
  • The students need to score 40% marks on every paper & aggregate 50% marks on all the papers to clear the CA Foundation Exam.

CA Foundation Exam Time Table 2024

Check out the timetable for Paper 1, Paper 2, Paper 3, and Paper 4 from the table below:

Paper(s) Exam Dates Exam Timings Duration

Paper 1

June 20, 2024

2 pm to 5 pm

3 hours

Paper 2

June 22, 2024

2 pm to 5 pm

3 hours

Paper 3

June 26, 2024

2 pm to 4 pm

2 hours

Paper 4

June 28, 2024

2 pm to 4 pm

2 hours

CA Foundation Exam Study Material

The students can easily clear the CA Foundation Exam after knowing the CA Foundation Exam Pattern & Syllabus and with better preparation materials.

  • They need to test their level of preparation by practicing more & more from CA Foundation books.
  • Practice CA Foundation Mock Tests 2024
  • Practice CA Foundation Previous Year Papers
  • The students should also take CA Foundation, online classes.

Download CA Foundation Exam Study Materials PDF

CA Foundation Admit Card

Without a valid CA Foundation Admit Card, you will not be able to appear for the exam. You can download the CA Admit Card generally 21 days before the exam. If any errors in your admit card, please inform the ICAI authority as soon as possible.

You will get the facility to download the admit cards a maximum of three times. You should take the printout at least 10 days before the exam to avoid a last-minute hurry.

Correction Window in CA Foundation

You will get two windows for correction as below.

  • Free Window Facility– You can change your Center/Medium within one week after the last date of the application form (without late fees) via the official site.
  • Correction Window Facility (with fees) – You can change your Center/Medium with the payment of Rs. 1000/- per application. Generally, it is available for correction up to one week before the exam.

You should also require to carry your registration form at the CA Exam Center along with the admit card to avoid any mistakes.

CA Foundation Result

You will able to check your results approximately two months after the exam. You need to visit the official website of ICAI CA. In order to check the CA Result, candidates must follow the steps given below.

Steps to Check CA Foundation Result

  • Step 1: Go to the official website – icaiexam.icai.org
  • Step 2: Click on the ‘Results’ option
  • Step 3: Now click on ‘Foundation: June 2024’ from the links available
  • Step 4: Enter your roll number and PIN or registration number
  • Step 5: Copy the captcha code and click on the ‘Check Result’ button
  • Step 6: Your CA Foundation 2024 Result will be displayed on the screen, take prints for future reference.

CA Foundation Merit List

The exam authorities will release the merit list of candidates who will be shortlisted in the CA Foundation 2024 result. Candidates can check the merit list by following the process provided below.

Steps to Check Chartered Accountant Foundation Merit List

  • Once you have reached the result links, scroll down to the merit list links
  • Click on ‘Foundation: June 2024’ under ‘Check Merit List
  • A login window will appear on the screen
  • Enter your registration number or roll number
  • Enter the captcha code
  • Click on the ‘Check Result’ button, and the merit list will be displayed on the screen.

CA Foundation Online Coaching

You can prepare CA Foundation by yourself with the best study materials. Along with the study materials and books, you can join the CA Foundation Online Coaching institution to develop a better base on every topic. It will enhance your depth of knowledge to get a good score.

Study Plan for CA Foundation

After completion of your registration, you should check the Foundation Syllabus and make a Study Plan for CA Foundation according to it. Make sure you have enough best CA Foundation Books and Study Materials.

Don’t just think to crack the exam instead of preparing for a high score. Dream big from the beginning so that you will not face failure in the entire journey as a CA student.

FAQs Related To CA Foundation Exam 

What is the mode of the CA Foundation Paper 3 Exam?

The mode of the CA Foundation Paper 3 Exam is a computer-based exam.

In the CA Foundation Exam, are fractional scores rounded up to absolute marks?

The scores are rounded off to the next complete level, according to the latest CA Foundation Exam Standard.

Is it possible for an individual to skip a question and come back to it later in CA Foundation?

An applicant may attempt to answer the question in whatever order he or she wishes in CA Foundation Test.

What will be the medium of questions for the CA Foundation Test?

Questions will be given in both English and Hindi in ICAI Foundation Exam.

What is a CBE (Computer-Based Examination) in CA Foundation?

In the CA Foundation CBE, an applicant sits for an assessment that is performed exclusively on a computer, eliminating the need for pen and paper.

When should a candidate report at the ICAI examination center?

One hour before the scheduled time of the start of the CA Foundation examination.

Is it appropriate to have prior computer skills to conduct the CS Foundation CBE?

No. In the CA Foundation CBE, applicants just have to know how to use a computer mouse.

Who will help the applicants in the case of a computer or Local Area Network (LAN) problem during ICAI Foundation Exam?

In the case of an emergency during ICAI Foundation Exam, an IT specialist will be on hand to support the applicants.

Can you provide me the ICAI exam helpdesk no.?

Yes. The CA exam helpdesk no. is 1800 419 2929.

Now you have detailed information on CA Foundation Exam 2024. Feel free to ask any queries related to ICAI in the comment section below.

14 thoughts on “Get a Complete Course Guide on CA Foundation Exam 2024”

  7. I have a query I am from 2021 batch waiting for board exams and don’t know how much time we have to wait for result for 12th
    So can I give CA foundation in 2022 batch
    Means droppers can appear for CA foundation exams or not ?

    Reply

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