CA Foundation is an entry level test to get entrance in the CA Course. As per the CPT new curriculum implemented by Institute of Chartered Accountants of India, Common Proficiency Test will be replaced by CA Foundation. Registration in CA Foundation has started from 1st July 2017. CA Foundation exam will conduct twice in a year May/Nov same as other exams i.e. CA intermediate and CA Final. The first exam for CA Foundation will be held on May 2018. The registration for CPT course ceased from 1st July 2017.
Students who are already registered for CPT (Common Proficiency Test) before 30th June 2017 will get a particular number of attempts to clear this exam i.e. till June 2019.
Eligibility Criteria to appear in CA Foundation
This is an entry level test designed same as for the other courses. A student can register himself or herself with the ICAI for the Foundation Course after appearing in the 12th examination conducted by the examining body constituted by law recognised in India or examination recognised by Central Government or equivalent thereto.
After getting himself/herself register for this course a student needs to complete 4 months of study period i.e. if he/she get to register for CA Foundation on or before 30th June 2018 then he/she can appear in November 2018 Examination. Foundation Exams will be held in May/November every year.
A student registered for the Foundation Course can appear in this examination after passing the 12th examination conducted by the examining body constituted by law or recognised by Central Government or equivalent thereto.
CPT conducts in two sets two hours of each set. The first set comprises of Fundamental of Accounting and Mercantile Law while the other set contains Quantitative Aptitude and Economics in a single day.
Foundation Course will comprise of 4 papers two of them will be subjective and two papers will be objective. However negative marking for the wrong answers will remain same in objective papers i.e. for each wrong answer ICAI will deduct ¼ marks and for each correct answer candidate will be given 1 mark. Two new subjects are also introduced in the new CA Foundation course syllabus seeing their importance.
Students require getting 40% in individual subjects comparing to CPT in which they needed only 30% in individual subjects. However, the aggregate percentage will remain same i.e. 50%.
Candidates clear this exam based only on their eligibility and not upon any reservation system. This is also one of the major advantages of choosing this reputed course. Chartered Accountancy course is considered as one of the toughest course but CPT is considered quite easy. The result of CPT generally lies between 30%-40% . This will get a major impact due to the implementation of CA Foundation.
A student can get registration in CA Foundation course by filling an online registration form available on ICAI website in course registration forms under students tab.
He/She need to pay the required fees after filing the registration form through the payment gateway. After making such payment system will generate a form, the student will require taking a print out of this form. This copy is required to be deposited to the concerned regional office after self-attesting (duly signed by the candidate himself/herself) within 7 days of completion of online registration along with the following given documents:-
After completion of the above registration process, students can either collect the study material from the concerned regional office (within one month) or it will be sent to the candidate through Centralised Dispatch System.
However, the registration will not get canceled if the student is not able to pass the examination in either one or two attempt or if he/she will not able to appear in exam due to any reason. The registration will be valid for 3 years and also it can be revalidated for any number of time for further 3 years after making a payment of 300/- as revalidation fees or as decided by the council from time to time.
Registration in the CA Foundation course does not mean that you can appear in this exam. Students need to file an examination Application form to make them eligible to sit for the exam.
For this, students need to fill an exam application form on the ICAI website by using his/her CA Foundation registration number and password mail on his/her primary id submitted by him/her at the time of registration. Students should submit the form on or before the declared date.
The username will be the registration number for example CRO254123. This username will remain same till the filing of CA Final exam form. However, you can reset the password as and when required.
In order to appear in the examination hall, students should collect admit card, prior to 21 of examination date. Admit cards aren’t sent physically, but students can login to ICAI website & download it. The admit card contains students registration number, his/her name, roll number, examination center, timetable. The students can download their admit cards up to three times from the portal. Students should keep a admit card print copy examination hall.
The result of CPT generally comes within one month after the date of examination. But the result of Intermediate and Final declares within 2 months from the exams. As we know that ICAI is planning to make CA Foundation similar to its other levels i.e. Intermediate and Final. Hence, it is probable that the result of CA Foundation will also be declared by ICAI within 2 months from the conduct of the last exam