ICAI Exam 2024 – The Institute of Chartered Accountants of India has published its Prospectus on its official website https://www.icai.org/ . The notification highlights the details regarding ICAI Eligibility Criteria, Syllabus, Exam Pattern and much more. ICAI CA Exam is a national level examination held twice a year. Aspirants need to pass the CA Foundation exam to be eligible to appear for CA Intermediate exam. Candidates who qualify CA Intermediate exam can then appear for CA Final exam, which is the last phase of ICAI Examination.
Overview
Eligibility Criteria
The eligibility criteria for the CA Foundation Exam in 2024 are as follows:
- Educational Qualification:
- Candidates should have completed their 10+2 education from a recognized board.
- Students who have appeared for the 10+2 examination and are awaiting results can also apply on a provisional basis.
- Registration:
- Candidates must have registered with the Institute of Chartered Accountants of India (ICAI) for the CA Foundation Course.
- Registration is typically open throughout the year, and candidates can register at any time.
- Study Period:
- There is no specific study period required to be eligible for the exam. Once registered, candidates can appear for the exam after completing the required preparation.
- Age Limit:
- There is no specific age limit for appearing in the CA Foundation Exam.
- CPT Passed Students:
- Candidates who have already passed the Common Proficiency Test (CPT) are not eligible to register for the CA Foundation Course.
Exam Pattern
| Paper No. | Subject | Mode of Examination | Type of Questions | Passing Criteria |
|---|---|---|---|---|
| 1 | Principles and Practices of Accounting | Pen and Paper-Based | Mix of Objective and Subjective | Minimum marks in each paper and aggregate percentage across papers |
| 2 | Business Laws and Business Correspondence and Reporting | Pen and Paper-Based | Mix of Objective and Subjective | Minimum marks in each paper and aggregate percentage across papers |
| 3 | Business Mathematics and Logical Reasoning & Statistics | Pen and Paper-Based | Mix of Objective and Subjective | Minimum marks in each paper and aggregate percentage across papers |
| 4 | Business Economics and Business and Commercial Knowledge | Pen and Paper-Based | Mix of Objective and Subjective | Minimum marks in each paper and aggregate percentage across papers |
Application Process
The application process for the CA Foundation Exam typically involves several steps. Keep in mind that the details might change, so it’s crucial to refer to the latest information on the official ICAI website or contact the institute directly. Here’s a general outline:
- Register with ICAI:
- Visit the official website of the Institute of Chartered Accountants of India (ICAI) and create an account.
- Complete the registration process for the CA Foundation Course.
- Receive Study Material:
- Once registered, you will receive the study material either through post or can download it from the official website.
- Prepare for the Exam:
- Begin your preparation for the CA Foundation Exam by studying the provided material and other relevant resources.
- Fill the Exam Form:
- The exam form is usually available on the ICAI website.
- Log in to your account and fill out the exam application form, providing necessary details.
- Upload Documents:
- Upload scanned copies of your photograph and signature as per the specifications mentioned in the form.
- Pay Examination Fee:
- Pay the exam fee online using the provided payment options.
- The fee details are available in the official notification.
- Submit the Form:
- After completing the form and payment, submit the application form online.
- Print Application Form:
- After successful submission, take a printout of the application form for your records.
- Admit Card:
- Download the admit card from the official website when it becomes available.
- Appear for the Exam:
- On the scheduled date, go to the exam center with your admit card and required ID proof.
Syllabus
ICAI CA FOUNDATION 2024 Syllabus here :
Paper 1: Principles and Practices of Accounting
- Theoretical Framework
- Accounting Process
- Bank Reconciliation Statement
- Inventories
- Concept and Accounting of Depreciation
- Accounting for Special Transactions
- Final Accounts of Sole Proprietors
- Partnership Accounts
- Financial Statements of Not-for-Profit Organizations
- Introduction to Company Accounts
Paper 2: Business Laws and Business Correspondence and Reporting
- Business Laws
- The Indian Contract Act, 1872
- The Sale of Goods Act, 1930
- The Indian Partnership Act, 1932
- The Limited Liability Partnership Act, 2008
- The Companies Act, 2013 (Sections 1 to 22)
- Business Correspondence and Reporting
- Communication
- Sentence Types and Word Power
- Vocabulary Root Words, Synonyms, Antonyms, Prefixes, Suffixes, Phrasal verbs, Collocations, Idioms & Proverbs
Paper 3: Business Mathematics and Logical Reasoning & Statistics
- Business Mathematics
- Ratio and Proportion, Indices, Logarithms
- Equations and Matrices
- Linear Inequalities with Objective Functions and Optimization
- Time Value of Money
- Permutations and Combinations
- Sequence and Series
- Logical Reasoning
- Number Series, Coding and Decoding
- Odd Man Out
- Direction Tests
- Seating Arrangements
- Blood Relations
- Statistics
- Statistical Description of Data
- Measures of Central Tendency and Dispersion
- Probability
Paper 4: Business Economics and Business and Commercial Knowledge
- Business Economics
- Introduction to Micro and Macro Economics
- Theory of Demand and Supply
- Theory of Production and Cost
- Price Determination in Different Markets
- Business Cycles
- Business and Commercial Knowledge
- Business and its environment
- Business organizations
- Government Policies and their Impact on Business
- Organizations Facilitating Business
- Common Business Terminologies
Important Dates
| Course | Last Date for Registration under New Scheme | Exam under New Scheme | Announcement of Results | Criteria |
| ICAI CA Foundation | 1st February, 2024 | June, 2024 | August 2024 | A minimum of 4 months study period from the date of registration is required to be completed in order to be eligible to appear in the Foundation Examination |
| 1st August, 2024 | December, 2024 | February 2024 | ||
| ICAI CA Intermediate | 1st September, 2023 | May, 2024 | July 2024 | A minimum of 8 months study period from the date of registration is required to be completed in order to be eligible to appear in the Intermediate Examination |
| 1st March, 2024 | November 2024 | January 2024 | ||
| ICAI CA Final | 1st January, 2024 | May, 2024 | July 2024 | One can register for CA Final Course anytime after completing CA Intermediate i.e. qualifying both groups. |
| 1st June 2024 | November 2024 | January 2024 |
Tips for Exam Preparation
ICAI 2024 Preparation Tips
- Study ICAI CA Syllabus: Begin your preparation by thoroughly understanding the CA syllabus. This will help you to focus on the relevant topics and allocate your study time efficiently.
- Refer to ICAI CA Study Material: The ICAI Study Material is a comprehensive resource designed specifically for CA Foundation, CA Intermediate, and CA Final exams. It is recommended to refer to it while studying the various subjects.
- ICAI CA Practice Previous Year Question Papers: Practicing CA previous year question papers and answering them in a format similar to the suggested answers will help you develop the skills to present your answers as per ICAI’s expectations. This practice enhances your chances of scoring higher marks.
- Take CA Mock Test Papers: Attempting mock test papers regularly will give you a real-time exam experience and help you identify your strengths and weaknesses. It also helps in improving time management skills and boosting confidence.
- At last, review Test Papers: ICAI Revision Test Papers are designed to assess your understanding of the concepts and topics. Reviewing these papers will allow you to gauge your progress and focus on areas that need more attention.
FEES
| Course Type | Certificate |
| CA Registration Fees |
|
Conclusion
Under the CA new scheme introduced by ICAI, effective from May 2024 onwards, there are revised passing criteria for CA Foundation, CA Intermediate, and CA Final exams. A significant change has been made to the exemption criteria, wherein papers in which students score 60 marks or more will be treated as permanently passed papers. Furthermore, students will be required to achieve a minimum of 50% individually in the remaining papers. It is worth noting that students also have the option to surrender the exemption granted to them under the ICAI new scheme.
FAQ?
Ans. ICAI has announced that the CA New exam pattern will be applicable from May 2024. The first Foundation Exam under the CA new scheme will be implemented from June 2024, while the Intermediate and Final Examinations will be applicable from May 2024.
Ans. The announcement includes adjustments to all levels of the course, incorporating changes to the training procedure and merging/reducing certain subjects.
Ans. Candidates who have successfully cleared both groups of CA Intermediate exams are eligible to apply for the CA Final May 2024 exam.
Ans. The CA exam is conducted twice a year, and for the May 2024 examination, registration must be completed by September 1, 2023. Similarly, for the November 2023 examination, registration should be completed by May 2024.
60 minutes of Duration
100 Questions
Instant Report
4 Dimensions
500+ Career Options
1M+ Test Taken
