CHARTERED ACCOUNTANCY EXAMS
Is becoming a CA your dream ? Do you have the passion but don’t know where to begin ? If so, you’re in the right place ! In this blog, you will learn all about Chartered accountancy exams, syllabus, eligibility and important dates for 2023. Read on !
Chartered accountancy exams include 3 levels. These are
-
CA Foundation
-
CA Intermediate
-
CA Final
All CA exams are conducted by ICAI ( Institute of Chartered Accountants of India – established on July 1, 1949 ). You become a professionally certified Chartered Accountant after clearing all 3 levels of the CA Exams.
Let’s look at each of these in detail.
CA Foundation
The CA Foundation exam replaced the Common Proficiency Test or CA-CPT exam and is now the entrance level examination for the chartered accountancy courses offered by ICAI. CA Foundation contains 5 series of papers.
CA Foundation exams are conducted twice a year in May and November.
CA Foundation Syllabus
Paper 1 Principles and Practice of Accounting
To Develop understanding of the basic concepts and principles of Accounting and acquire the ability to apply the same in preparing financial statements and simple problem solving.
Paper 2 Business Laws and Business
To develop an understanding of significant provisions of select business laws and acquire the ability to address basic application-oriented issues. Part B of the Subject help To acquire and develop good communication skills requisite for business correspondence and reporting.
Paper 3 Business Mathematics and Logical Reasoning & Statistics
(a) To develop an understanding of the basic mathematical and statistical tools and their application in Business, Finance and Economics. (b) To develop logical reasoning skills and apply the same in simple problem solving
Paper 4 Business Economics and Business and Commercial Knowledge
To develop an understanding of the concepts and theories in Business Economics and apply such concepts and theories in simple problem solving. Part B of the paper helps To develop an understanding of common business and commercial concepts and to keep abreast with developments in the business and commercial world.
Important Dates for CA Foundation
| Event | May 2023 Exams | Nov 2023 Exams |
| Commencement of application | Open all year | |
| Last date to register with the Board of studies | Jan 1st 2023 | July 1st 2023 |
| Availability of exam form | Feb 3rd week | Aug 3rd week |
| Deadline for filling the exam date without late fee | Mar 2nd week | Sep 2nd week |
| Deadline for filling form with late fee | Mar 2nd week | Sep 3rd week |
| Exam form reopening | Mar 4th week | Sep 4th week |
| Correction window | Mar 4th week | Sep 4th week |
| Availability of admit card | Apr 2nd week | Oct 2nd week |
| CA Foundation 2023 exam date | May 2nd week | Nov 2nd week |
| Announcement of CA Foundation result | Jul 3rd week | Jan 3rd week |
Marking scheme of CA Foundation
| Total Marks | 100 |
| Time | 3 Hours |
| For Right Answer | +1 |
| For Wrong Answer | -0.25 |
| Pass Mark | 50% |
Points to Note
- Paper 1 & 2 – Descriptive
- Paper 3 & 4 – Objective MCQ with Negative Marking
- To Pass, a minimum of 40% in each subject and 50% on Aggregate is required.
CA Intermediate
Being one of the more difficult exams, CA Intermediate is the second level exam in Chartered Accountancy. It has 8 subjects and over 7000 pages of study material that has to be covered within the allotted 9 months preparation time.
What makes this exam so difficult to pass is the group system in which the exams are conducted. There are 2 Groups with each containing 4 subjects. You must pass all 4 papers to clear the group. Failing to pass even one subject means failure of the entire group, even the subjects you originally passed in !
Until 2020, the pass percentage has only been 16.76%, which means only 4 out of every 25 students appearing for the exam managed to successfully pass ! This is why you must get your education from a well experienced institution.
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CA Intermediate Syllabus –
Group 1
Paper 1 Accounting
To acquire the ability to apply accounting standards and legislations to different transactions and events and in preparation and presentation of financial statements of various business entities
Paper 2 Corporate and Other Laws
To Develop an understanding of the provisions of the company and other laws and acquire the ability to address application oriented issues
Paper 3 Cost and Management Accounting
To develop an understanding of the cost accounting statements and acquire the ability to apply information for cost ascertainment, Planning, Control & Decision making.
Paper 4 Taxation
To Develop an understanding of the Income Tax and GST law Provisions and acquire the ability to apply such provisions in problem solving
Group 2
Paper 5 Advanced Accounting
To acquire the ability to apply accounting standards and legislations to different transactions and events and in preparation and presentation of financial statements of various business entities& NBFC’s
Paper 6 Auditing and Assurance
To develop understanding of the concepts of auditing and the generally accepted auditing procedures, skills and ability to apply the same in auditing engagements
Paper 7 Enterprise Information Systems & Strategic Management
To Develop an understanding of technology oriented information systems and strategic management for their impact on enterprise wide process risks and control
Paper 8 Financial Management & Economics for Finance
To Develop an understanding of various aspects of Financial Management and Economics for Finance and ability to apply the same for decision making.
Important Dates for CA Intermediate
| Event | May 2023 Exams | Nov 2023 Exams |
| Commencement of application | Open all year | |
| Last date to register with the Board of studies | Jan 1st 2023 | July 1st 2023 |
| Availability of exam form | Feb 3rd week | Aug 3rd week |
| Deadline for filling the exam date without late fee | Mar 2nd week | Sep 2nd week |
| Deadline for filling form with late fee | Mar 2nd week | Sep 3rd week |
| Exam form reopening | Mar 4th week | Sep 4th week |
| Correction window | Mar 4th week | Sep 4th week |
| Availability of admit card | Apr 2nd week | Oct 2nd week |
| CA Foundation 2023 exam date | May 2nd week | Nov 2nd week |
| Announcement of CA Foundation result | Jul 3rd week | Jan 3rd week |
Marking scheme of CA Intermediate
| Total Marks | 100 |
| Time | 3 Hours |
| For Right Answer | +1 |
| For Wrong Answer | -0.25 |
| Pass Mark | 50% |
Points to Note
- To pass, you must secure a minimum of 40% in each subject and 50% on Aggregate.
- You are allowed to take up exams group wise irrespective of the order.
- Min of 60% to be taken up for exemption.
- Exemption can be availed for following 3 attempts.
- You should attend the all four exams of the group to claim exemption.
CA Intermediate exams are conducted once a year in December.
CA Final
After successfully passing the intermediate exams, CA final is the last level to cross before you become a certified Chartered Accountant !
Just like intermediate, the Final Exam too consists of 2 Groups. Group 1 has 4 Core papers, and Group 2 consists of 3 Core Papers and 1 Elective paper. You can choose one from the 6 options available for the Elective Paper.
However before you can appear for the Final exam, you must register for a 3-year articleship training under a practicing Chartered Accountant. You must also undergo a 4 week Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) during the last 2 years of training.
You can proudly enroll yourself as a member of ICAI and be designated as a CA once you successfully complete the training and pass both the CA Final Exam groups with a minimum of 40% in each subject and a 50% overall score !
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Syllabus for CA Final
Group 1
Paper 1 Financial Reporting
To Develop an understanding of Framework for Preparation and Presentation of Financial Statements, Analysis of Financial Statements, Integrated Reporting and Corporate Social Responsibility Reporting
Paper 2 Strategic Financial Management
To Develop an understanding of Risk Management and Security Analysis of Mutual Funds, Foreign Exchange Exposure and Risk Management, Corporate Valuation, Mergers, Acquisitions, Corporate Restructuring and Startup Finance
Paper 3 Advanced Auditing and Professional Ethics
To Develop an understanding of Auditing Standards, Statements and Guidance Notes, Audit Planning, Strategy and Execution, Peer Reviews , Quality Reviews and Professional Ethics.
Paper 4 Corporate and Economic Laws
To Develop an understanding of Corporate Laws, Company Law, Corporate Secretarial Practices and Security Laws.
Group 2
Paper 5 Strategic Cost Management and Performance Evaluation
To Develop Strategic Cost Management and Decision Making in Modern Business Environment, Innovation, Cost Management, Pricing Strategies and Managerial Control.
Elective papers for Group 2 Paper 6
Paper 6A – Risk Management
Paper 6B – Financial Services and Capital Markets
Paper 6C – International Taxation
Paper 6D – Economic Laws
Paper 6E – Global Financial Reporting Standards
Paper 6F – Multidisciplinary Case Study
Paper 7 Direct Tax Laws and International Taxation
To Develop an understanding of Tax Laws and Procedures and International Taxation.
Paper 8 Indirect Tax Laws
To Develop an understanding of Goods and Services Tax (GST) Law, Customs & Foreign Trade Policies.
CA Final exams are also conducted once a year in December.
Important Dates for CA Final
| Event | May 2023 Exams | Nov 2023 Exams |
| Commencement of application | Open all year | |
| Last date to register with the Board of studies | Jan 1st 2023 | July 1st 2023 |
| Availability of exam form | Feb 3rd week | Aug 3rd week |
| Deadline for filling the exam date without late fee | Mar 2nd week | Sep 2nd week |
| Deadline for filling form with late fee | Mar 2nd week | Sep 3rd week |
| Exam form reopening | Mar 4th week | Sep 4th week |
| Correction window | Mar 4th week | Sep 4th week |
| Availability of admit card | Apr 2nd week | Oct 2nd week |
| CA Foundation 2023 exam date | May 2nd week | Nov 2nd week |
| Announcement of CA Foundation result | Jul 3rd week | Jan 3rd week |
Exam pattern of CA Final
Group 1
Paper 1 – Financial Reporting & Paper 2 – Strategic Financial Management
| Total Marks | 100 |
| Time | 3 Hours |
| Type of questions | Subjective |
Paper 3 – Advanced Auditing and Professional Ethics & Paper 4 – Corporate and Economic Laws
| Total Marks | 100 |
| Time | 3 Hours |
| Type of questions | Subjective & Objective ( 30:70 ) |
Group 2
Paper 5 – Strategic Cost Management and Performance Evaluation
| Total Marks | 100 |
| Time | 3 Hours |
| Type of questions | Subjective |
Paper 6
Paper 6A – Risk Management
Paper 6B – Financial Services and Capital Markets
Paper 6C – International Taxation
Paper 6D – Economic Laws
Paper 6E – Global Financial Reporting Standards
Paper 6F – Multidisciplinary Case Study
| Total Marks | 100 |
| Time | 3 Hours |
| Type of questions | Subjective & Objective ( 30:70 ) |
Paper 7 – Direct Tax Laws and International Taxation
| Total Marks | 100 |
| Time | 3 Hours |
| Type of questions | Subjective |
Paper 8 – Indirect Tax Laws
| Total Marks | 100 |
| Time | 3 Hours |
| Type of questions | Subjective |
Eligibility for Chartered Accountancy Exams
To become a Chartered Accountant, you must go through a process of training and clear examinations conducted by ICAI at 3 different levels – Foundation, Intermediate and Final.
To be eligible for CA Foundation, you must have passed class 12 from a recognized school with atleast 50%.
To be eligible for CA Intermediate, you must clear the Foundation exam. If you’re taking the Direct Entry route, you must have completed your bachelor’s degree.
To be eligible for CA Final, you must have cleared foundation and intermediate exams and done an articleship for 3 years.
For a more detailed information about the eligibility, click here >
Hope we were able to give you an insight about the Chartered Accountancy Exams.
Chartered Accountancy Exams – FAQ
Can I pass CA in first attempt?
Yes. With our expert guidance and a disciplined preperation, we assure you will pass CA in the first attempt !
Can I crack CA with job?
Yes. With proper planning and right time management, you can definitely pursue CA along with a full-time job.
Is CA a government job?
It is neither government job nor a private job.However, a CA can be hired by both government as well as private companies or they can practice on their own just like doctors by opening their own offices.
Are CA in demand?
Yes ! There is high demand for chartered accountants not only in India but internationally too !
What is CA income ?
The high demand in the auditing and investment fields fetch them a high salary. A CA fresher earns up to 6-7 lakhs per annum.
Does CA require maths ?
There is 1 Maths paper in Foundation
Is ACCA or CA better?
As ACCA is globally recognised it is considered above CA. CA deals with India Accounting, finance and taxation systems which makes it great fit for India but not ideal for someone who wants to settle abroad.
How many attempts CA?
There is no limit to the number of attempts taken to clear a CA exam.
Why does CA fail?
Lack of proper planning, poor time management skills, failing to understand and analyze study material and misinterpretation of questions.
What is the 1st exam of CA?
Ca foundation is the first exam for CA
More Questions ? Contact us !