The first level of the CA Course to become a Chartered Accountant is the CA Foundation Course. You’ll learn the fundamentals of accounting, business law, mathematics, and economics at this level.
The Institute of Chartered Accountants of India (ICAI) administers the CA Foundation exams twice a year, in May and November.
Students who appear or appeared in class 12th may register for the CA Foundation course based on the qualifying requirements.
Students who have graduated and passed their class 12 exams may choose a direct entrance option to avoid taking the Foundation exam.
CA Foundation Exam May 2023
Registration for the CA Foundation exam in May 2023 is currently open. Students can register online for the May 2023 examinations using the official ICAI website, icai.org, until January 1, 2023.
Log on to the ICAI website, submit the relevant information and documentation, and pay the costs to register for the CA Foundation Course. The registration price for the CA Foundation exam in May 2023 is Rs. 9800 for Indian students and $700 for US citizens.
Keep a check on the official site of ICAI for the extension of registration for the foundation exam.
CA Foundation Exam May 2023 Admit Card (Out)
You need to wait until April 2023 to download your hall pass if you plan to take the CA Foundation exam in May 2023. The CA Foundation 2022 admit card will be made available by the Institute of Chartered Accountants of India (ICAI) and hosted online at the official website icaiexam.icai.org.
CA Foundation Exam May 2023 Syllabus & Pattern
The CA Foundation exam includes four papers:
Paper 1 – Principles and Practice of Accounting
Paper 2 – Business Laws and Business Correspondence and Reporting
Paper 3 – Business Mathematics, Logical Reasoning and Statistics
Paper 4 – Business Economics and Business and Commercial Knowledge
CA Foundation Exam May 2023 Syllabus
Paper 1 – Principles and Practice of Accounting
The majority of the concepts covered in this subject are already learnt by the students in classes 11th and 12th. The comprehension of fundamental ideas and their use in the initial preparation of financial accounts is required. This is a 100 marks subjective paper. The various topics included in this subject are:
- Theoretical framework
- Accounting Process
- Bank Reconciliation Statement
- Inventories
- Concept and Accounting of depreciation
- Accounting for Special Transactions
- Partnership Accounts
- Preparation of final accounts of sole proprietors
- Company Accounts
- Financial Statements of Not-for-Profit Organizations (NPO)
Paper 2 – Business Laws and Business Correspondence and Reporting
This is CA Foundation’s second paper. Business Laws and Business Correspondence are the two sections of the paper. This is 100 marks subjective paper.
In business laws you will learn about the following topics:
- The Indian Contract, 1872
- The Sales of Goods Act, 1930
- The Indian Partnership Act, 1932
- The Limited Liability Partnership Act, 2008
- The Companies Act, 2013
In Business Correspondence and Reporting, you will get to learn about the following topics:
- Communication
- Sentence Types
- Vocabulary
- Note making
- Precis making
- Article making
- Report writing
- Resume writing
- Meetings
- Introduction to basics of writing
- Formal Letters and official communication
- Writing Formal mails
Paper 3 – Business Mathematics, Logical Reasoning and Statistics
Students will learn about fundamental statistics and mathematics as well as how they are used in the fields of business, finance, and economics in the third subject of the CA Foundation curriculum. This is a 100 marks objective paper.
Business Mathematics will include the following topics:
- Ratio and proportions
- Equations
- Linear inequalities
- Time value of money
- Basic concepts of permutations and combinations
- Sequence and series
- Sets, functions and relations
- Basic concepts of differential and integral calculus
Logical Reasoning would include the following:
- Number series
- Direction tests
- Seating arrangements
- Blood relations
Statistics would include:
- Statistical description of data
- Measures of central tendency and dispersion
- Probability
- Theoretical Distributions
- Index Numbers
- Correlation and regression
Paper 4 – Business Economics and Business and Commercial Knowledge
This paper is the fourth and last topic of the CA Foundation. These courses will aid students in developing a solid understanding of business economics. You can use these ideas and theories to solve straightforward problems. This is a 100 marks objective paper.
Business Economics would include the following topics:
- Nature and scope of business economics
- Theory of demand and supply
- Theory of production and cost
- Price determination in different markets
- Business cycles
Business and Commercial Knowledge (BCK) would include:
- Introduction
- Business Environment
- Business Organizations
- Government policies for business growth
- Organizations facilitating business
- Common business terminologies
CA Foundation Exam May 2023 Pattern
Paper 1 is a subjective paper.
Paper 2 is a subjective paper and is divided into two portions. Business laws are of 60 marks and business correspondence and reporting (BCR) is of 40 marks.
Paper 3 is an objective type paper divided into 3 parts where business mathematics carries 40 marks, logical reasoning carries 20 marks and statistics is 40 marks.
Paper 4 is an objective type paper divided into 2 parts where business economics carries a weightage of 60 marks and business and commercial knowledge carries 40 marks.
Duration of the paper: Papers 1 and 2 are of 3 hours each whereas papers 3 and 4 are of 2 hours each. Extra 15 minutes of reading time is given only in papers 1 and 2.
Preparation Tips
- Completion of the syllabus– Try and cover your syllabus at least 2 months before the exam so that you have adequate time left for revision. Revise the syllabus at least twice or thrice before the final exams.
- Study Material– The best material you can study for this level is the material provided by The Institute of Chartered Accountants of India. Cover all the topics, examples and unsolved questions from the material. The study material is provided by the institute on its official website.
- Amendments– Go through all the amendments relevant to your examination. Various questions from amendments are asked by the institute and they carry a huge weightage of marks. You can check all the amendments from the institute’s material or their website.
- Section Numbers– Learn all the section numbers of various laws and provisions. This helps in building a good impression on the exam checker. Also, do not quote the section number in case you do not remember the exact number. This will lead to the deduction of marks.
- Language– Try and quote the language of the definitions provided in the study material of business laws. This will make your answer more precise and will help in gaining some extra marks.
- Practice Papers– Attempt all the past year’s questions paper and solve various practice papers provided in different books. Practice and past year questions give you an idea about the format and the difficulty level of the questions asked. You will also be able to answer the questions which are asked in a twisted manner.
- Bifurcation of marks– During your revision period, focus more on the topics that carry more marks. The bifurcations of marks in various subjects are provided by the institute on its website.
- Notes– Start to develop a habit of note-making. This will help you in your revisions as well as during preparatory leaves.
- Time management- Utilize the 15 minutes of reading time effectively. Also, practice the past year’s papers between the same time duration as the time of the exam. Utilize the three hours given properly and read all the questions carefully.
- Questions– Do not leave any questions unanswered. Attempt all the questions and try to use your logical reasoning in case you cannot think of the right answer.
- Negative marking– Papers 3 and 4 carry negative half-marks for every wrong answer. Students can learn to answer MCQs quickly and effectively by practising through the MCQ booklet provided by ICAI.
CA Foundation Exam May 2023 Results
Each exam is of 100 marks and the candidate has to secure a minimum of 40% in every paper and 50% in the overall papers to clear the CA foundation. This means the student has to secure at least 40 marks in each paper and an overall minimum score of 200.
The results are usually declared within 2 months of the conduct of examinations.
Students can check their results online on icai.nic.in.
Your six-digit exam roll number, PIN, or ICAI registration number must be provided. The CA Foundation May 2023 results and merit list will also be made available online.
