CA Foundation Course 2024 Complete Guide

Many aspirants dream of becoming a CA or Chartered Accountant, a prestigious and rewarding profession. Achieving this esteemed certification starts with the CA Foundation exam, and the CA course has three total levels. In this stage, aspirants acquire theoretical and practical knowledge of accounting principles, business laws, mathematics, and economics. As per the ICAI’s new scheme, the CA Foundation exam will occur three times yearly, specifically in May/June, September, and January.

If you plan to appear for the CA Foundation 2024, then this CA Foundation Course guide can help you understand this exam and the important details you must know.

CA Foundation Course Complete Details 2024

Before aspirants start applying for the CA Foundation exam, they must ensure that they know the basic details of the exam. So here, some CA Foundation Course Details are presented below in a tabular form wherein you can have an idea of the total number of papers, mode of exam, fees, and more. 

CA Foundation Important Dates for September 2024

As mentioned earlier, the CA Foundation Exam will take place thrice a year as per ICAI’s new scheme. So, the first exam was conducted in June 2024. The second exam will take place in September 2024, and the CA Foundation Course Important Date for September 2024 is already out. So aspirants must check these dates:

Eligibility Criteria For the CA Foundation Course

As per the CA Foundation eligibility criteria, students who have passed their class 12 examination from a board recognized by the Central Government can apply for the CA Foundation.

However, because of the delays in the declaration of the Class 12th Central and State Boards Results, ICAI has introduced new eligibility and policies that permit provisional registration of the students who have not passed the 12th Exams.

The ICAI now permits its students to obtain a preliminary registration for the CA Foundation provided the student passes the Class 10th examinations. It is also declared that this preliminary admission will only be modulated or regularized when the candidate passes the Class 12th exams. Besides that, students must complete a four-month study period to become eligible for the CA Foundation exam. 

Also, students wishing to become a CA after graduation or post-graduation can apply for the CA Intermediate through the Direct Entry System. Hence, this implies that they do not sit for the CA Foundation Exam.

How To Register For CA Foundation Course?

All the eligible students can register for the CA Foundation. The registration process for ICAI is open for the whole year, but to join the CA Foundation course, one must register before the date mentioned. The last date for registration to the September 2024 exams is the 1st of May, 2024.

Documents For CA Foundation Registration

Before you start the registration process, here are some of the documents that you need to have with you:

• 10th Report Card
• 12th Admit card
• Recent Color Passport-size Photo
• Proof of Nationality for Foreign students

Registration Process

Follow the step-by-step CA Foundation registration procedure to complete the registration:

• Go to the ICAI website. On the Student’s Tab, navigate to the ‘Course Registration’.
• On the registration form, select ‘New User’.
• Next, you must enter basic details like date of birth, gender, Aadhar card details, contact number, email and password.
• After this, verify by clicking on the Generate OTP button. You will receive the OTP at your registered contact number, and your mail will contain a verification link.
• Post verification, you will have your profile, and you will then receive the login credentials.
• Now, login, choose the ‘Student Cycle’ option and select ‘Apply For Foundation.’ Post that, you must enter details and hit on ‘Save and Next’.
• Now, you have to pay the required registration fees online, and you can pay via Master/Visa/Maestro Credit/Debit/Rupay Card/Net Banking.
• After you make your payment, you will get the registration form. So you have to submit the form with the necessary documents and the candidate’s signature within the next seven days.

Upon registration for the Foundation course, the registration duration will be valid for three years. You can also revalidate it any number of times for a further three years by depositing nominal fees of Rs. 300.

CA Foundation Exam Fees

The CA Foundation Exam Fee for Indian students is Rs. 10,900; for foreign nationals, the fee is $1065. During CA Foundation registration, students need to pay Rs. 9000 as the registration fees, Rs 200 for CA Foundation Prospectus, and Rs 200 for students’ journal subscriptions. While submitting the CA Foundation exam form, students need to pay Rs 1500.

Here is the breakdown of fees for both foreign and Indian students:

After you pay the registration fees and it is successful, you will receive the CA Foundation study materials which will be dispatched via the Centralized Dispatch System (CDS).

Passing Criteria for Foundation Exam

Students must understand the CA Foundation Passing Criteria well to prepare accordingly. To pass the CA Foundation exam in September 2024, students must score the following:

• a minimum of 40% in each paper
• a total of 50% of all subjects combined

CA Foundation Exam Form for September 2024

It is essential to understand that simply registering for the CA Foundation course will not allow the student to sit for exams. You also have to complete the exam form to inform the ICAI that you will appear in the examination. Candidates need to fill out the CA Foundation exam form online via ICAI’s official website and pay the requisite fees. As mentioned earlier, the fee is Rs. 1500.

The examination form for the September 2024 examination will be open from the 28th of July to the 10th of August in 2024. The candidates with the exam form must also attest to the CA Foundation declaration form. The declaration form affirms and validates that the documents submitted and attested to are authentic and not forged.

CA Foundation Admit Card and Correction Window

Admit cards are necessary to sit in the CA Foundation examination hall. ICAI normally releases admit cards for exams fourteen days before. Also, it has stopped dispatching admit cards either physically or offline. The CA Foundation admit card can only be downloaded online from the official ICAI site.

Taking the printout at least ten days before the exam is advisable so there is no last-minute rush. Your admit card can be downloaded up to three times, so you must take 3 to 4 photocopies of that admit card. After downloading, if the Center/Medium you filled out gets wrong due to the details you filled out in the application form, you can correct such wrong Center/Medium.

The ICAI offers two correction windows to students for modification in the exam form if needed. In the first window, there is no charge for correction fees. However, in the second window, one has to deposit the correction fees of Rs. 1000/—per application. The correction window for the timetables of the September exam is from August 14, 2024, to August 16, 2024.

• Free Window Facility: A student can switch their Center/Medium free of cost within a week from the last submission date of the Examination form under the first correction window.
• Correction Window Facility (with fees) – A student can change their Center/Medium provided Rs. 1000, which will be charged per application. Generally, this window is usually available up to one week before the examination. However, requests made within a week before seven days will not be entertained as per the ICAI circulars.

CA Foundation Syllabus and Study Material 2024

The CA Foundation Exam has four papers, each of which is 100 marks. The four papers are as follows:

1. Accounting
2. Business Law
3. Quantitative Aptitude
   • Part A: Business Mathematics Syllabus
   • Part B: Logical Reasoning Syllabus
   • Part C: Statistics
4. Business Economics

Paper 1 and Paper 2 are subjective papers, and the duration is 3 hours. However, Paper 3 and Paper 4 are objective-based papers, with a negative mark of 0.25 for every wrong response and a duration of 2 hours. Students must thoroughly understand the exam pattern and prepare well for the exam. Also, students have four months to cover these subjects. 

For study materials, you will get the materials from ICAI and it is advisable to go through the ICAI materials thoroughly. Besides that, students can also join CA coaching if they need assistance with preparation.

How to Prepare for the CA Foundation 2024 Exams?

Clearing the CA Foundation September 2024 exam may seem challenging, but with proper preparation and guidance, you can clear the exam in the first attempt. Here are some essential tips that you can consider:

1. First, you must understand the CA Foundation syllabus, exam pattern, and weightage of the topics and then move to preparation.
2. You must have a study plan that you should religiously follow the timetable. Make sure to include breaks, revisions, and mock tests.
3. Also, you must make proper notes of what you are studying, as these notes can be helpful during revision.
4. You should also ensure you have a good hold on the calculator.
5. Besides that, you should make it a point to complete the entire course a month before so that you have time to complete revisions and solve mock tests.
6. Solving mock tests is crucial as it will help you with time management and understand the CA Foundation exam pattern.

FAQs

Ques. What is the CA Foundation exam?

CA Foundation is the entry-level exam in the Chartered Accountant Career Option. Students have to clear 4 papers to pass the CA Foundation.

Ques. How many subjects are there in the CA Foundation Course?

There are 4 subjects in the CA Foundation Course: Accounts, Business Law, Quantitative Aptitude and Business Economics.

Ques. What are the passing criteria for the CA Foundation examination in 2024?

The passing criteria for the CA Foundation exams are a minimum of 40% in each subject and an aggregate of 50% in all 4 subjects.