Seven key points of Foundation Exam in CA course under Revised Scheme

New Delhi: After considering the inputs from various stakeholders, the Institute of Chartered Accountants of India (ICAI) has formulated the Revised Scheme of Education and Training in accordance with International Education Standards issued by International Federation of Accountants (IFAC).Hence Chartered Accountants (CA) aspirants are closely watching and tracking the new developments on the course structure of CA exam.  The Revised Scheme of Education and Training for CA course will come into effect from 1st July, 2017.

As per ICAI’s Revised Scheme of Education and Training for CA course, the three levels will now be called as Foundation, Intermediate and Final in place of earlier levels i.e. Common Proficiency Course (CPC), Intermediate (Integrated Proficiency Competence) Course and Final Course.  There are many changes in the CA course at each levels: Foundation, Intermediate and Final. Here, SkillOutlook presents seven key points or changes applicable on Foundation course as the Revised Scheme for CA course.


1.Foundation course in place of Common Proficiency Course: The revised scheme mentioned that now the three levels will now be called as Foundation, Intermediate and Final. Hence, there will no Common Proficiency Course (CPC) while CPT will not be held under the new Scheme of Education and Training for CA course.

2.Schedule of first Foundation exam and last CPT exam: Candidates can register in CPC till 30 June 2017 and can appear for CPT in December 2017. In case one registers after 30 June 2017, he/she to compulsorily register in Foundation (under the Revised Scheme) and can appear for Foundation Examination in May 2018. The first examination going to be held at all levels under Revised Scheme in May 2018. Further, the last CPT Exam under old course will be held in May 2018.

3.Qualification for appearing Foundation Exam: For appearing in Foundation Examination, a student must have completed 4 months of study period and have qualified class 12 Examination. Accordingly, you will be able to appear in May 2018 Foundation exams.

In future however, any student who has appeared Class XII and registered for Foundation course on or before 30th June/31st December and after qualifying Class XII Examination will be eligible to write in the respective November/May examination.

4.Foundation exam schedule and cut-off date schedule: The Foundation Examinations will be held in the month of May and November every year 31st Dec. and 30th June is the cut-off date for registration for being eligible to appear in May and November examinations, respectively covering a study period of four months.

5.Number of papers in Foundation: There will be four papers in Foundation.

Paper 1: Principles and Practices of Accounting (100 Marks)

 Paper 2: Business Law & Business Correspondence and Reporting (100 Marks); Section A: Business Law (60 Marks); Section B: Business Correspondence and Reporting (40 Marks)

Paper 3*: Business Mathematics and Logical Reasoning &Statistics (100 Marks)

Part I: Business Mathematics and Logical Reasoning (60 Marks)

Part II: Statistics (40 Marks)

Paper 4*: Business Economics & Business and Commercial Knowledge (100 Marks)

Part I: Business Economics (60 Marks)

Part II: Business and Commercial Knowledge (40 Marks)

6.Exam Pattern & Negative mark system: Out of 4 papers, 2 papers are subjective type (Paper 1 & 2) and rest of the 2 papers are objective type (Paper 3 & 4). There is negative marking in Foundation like CPT. Negative marking is applicable for Papers 3 & 4 only and not for subjective papers i.e. 1 & 2.

7.How to qualify in Foundation Exam: One can qualify Foundation Examination by securing 50 % in aggregate and 40 % in each subject individually.

A student can register in Intermediate Course w e f 1 July 2017, if qualified PE I /CPT/ Foundation or if joining through Direct Entry Route.

These above seven key points of Foundation Course will guide and help CA aspirants to remain updated on the latest developments in CA course.

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