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CA Foundation Exam Pattern 2024 - Subjects-wise Weightage & Paper Pattern
Edited By Team Careers360 | Updated on Jan 10, 2024 04:56 PM IST | #CA Foundation Exam
The Institute of Chartered Accountants of India (ICAI) specifies the CA Foundation exam pattern 2024 on its official website - icai.org. By referring to the CA Foundation paper pattern 2024 can get an idea about the number and type of questions asked in the exam, subjects included, the marking scheme and duration of national-level exam. The upcoming CA Foundation June 2024 exam would be conducted as per the CA Foundation new syllabus. It is the first foundation exam to be conducted under the new ICAI scheme implemented last year.
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Knowing this CA exam pattern of CA Foundation can help candidates to prepare a strategy for the exam. ICAI conducts CA Foundation exam twice in a year, once in May/June and then in November/December. In this article, get to know all the details of CA Foundation paper pattern 2024
CA Foundation exam pattern 2024 - Overview
Particulars | Details |
|---|---|
Name of the exam | CA Foundation, earlier known as CA CPT (Common Proficiency Test). |
Conducting Body | The Institute Of Chartered Accountants of India (ICAI) |
Mode of exam | Offline |
Frequency | TWICE in a year May/June) November/December) |
Level of exam | National level |
Level of difficulty | Easy to Moderate |
Question paper (s) | The CA Foundation exam includes FOUR papers: Paper 1 - Accounting Paper 2 - Business Laws Paper 3 - Quantitative Aptitude: Part A: Business Mathematics Part B: Logical Reasoning Part C: Statistics Paper 4 - Business Economics |
Duration of the question papers | Paper 1 and 2 will be of 3 hours Paper 3 and 4 will be of 2 hours |
Question Type | Paper 1 and 2 - Subjective Paper 3 and 4 - Objective |
Marks | Each paper will be of 100 marks. |
Total marks | 400 |
Marking scheme | For subjective (Paper 1 and 2) - NO negative marking For objective papers (Paper 3 and 4) - ¼ mark will be deducted for every wrong answer |
Medium of exam | English/Hindi except for Paper 2 (section b which will be in English only) |
CA Foundation Exam Pattern 2024 - Details
Basic details about CA Foundation exam paper pattern 2024 is given below:
There are four papers in the CA Foundation examination.
Paper 1 and Paper 2 are subjective types
Paper 3 and Paper 4 are objective types
CA foundation total marks is 400 where each paper is for 100 marks.
CA Foundation negative marking is applicable to objective papers. Any wrong answer will deduct one-fourth mark in the paper
The exam is conducted offline
The medium of the exam is either English or Hindi except for Section (b) of paper 2 which will compulsorily be taken in English language only.
CA Foundation Passing Criteria 2024
The CA Foundation passing marks have been fixed at 40%. To qualify the CA Foundation exam 2024, a candidate needs to secure minimum 40% marks in each paper and an aggregate of 50% in all four papers. Candidates securing less than the passing criteria specified by ICAI will not be considered a pass. Such candidates have to reappear for the CS Foundation papers.
Related: Check CA Foundation Pass Percentage
ICAI CA Foundation Syllabus 2024
Along with the paper pattern of CA Foundation, candidates need to be aware of the topics and subtopics covered under the CA Foundation syllabus as per the new ICAI scheme of education and training. The old CA Foundation 2023 syllabus will be discontinued. Each topic and subtopic from which the CA Foundation 2024 question paper will be prepared is included in the syllabus. ICAI provides the CA Foundation syllabus on its official website.
Exam Pattern (Topic-wise weightage)
Tabulated below are the sections and topics covered under the CA Foundation paper pattern. Each row highlights the topic as well as the weightage of the topic covered in all four papers. The table will help candidates to prepare for the exam effectively by focusing on CA foundation chapter wise weightage.
Note- The revised section-wise weightage has been taken from the CA Foundation exams.
CA Foundation Topic Wise Weightage
Given below are tables containing the topics and their weights in each of the four papers contained in the CA Foundation syllabus under new ICAI scheme of education and training.
Paper 1: Accounting
| Objective To develop an understanding of the basic concepts and principles of accounting and apply the same in preparing financial statements and simple problem solving. | ||
| Contents | Sections | Weight |
| 1. Theoretical Framework | I | 5%-10% |
| (i) Meaning and scope of accounting | ||
| (ii) Accounting Concepts, principles and conventions | ||
| (iii) Capital and revenue expenditure, capital and revenue receipts, contingent assets and contingent liabilities | ||
| (iv) Accounting policies | ||
| (v) Accounting as a measurement discipline – valuation principles, accounting estimates | ||
| (vi) Accounting Standards - concepts and objectives. | ||
| 2. Accounting Process | II | 30%-35% |
| (i) Recording accounting transactions: principles of double entry book-keeping, books of original entry - journal, subsidiary books, cash book, | ||
| ledger-format, posting from journal and subsidiary books, balancing of accounts | ||
| (ii) Preparation of trial balance | ||
| (iii) Rectification of errors. | ||
| 3. Bank Reconciliation Statement | ||
| Introduction, reasons and preparation of bank reconciliation statement. | ||
| 4. Inventories | ||
| Meaning, Basis and technique of inventory valuation, Cost of Inventory, Net Realizable value and Record System. | ||
| 5. Depreciation and Amortisation | ||
| Tangible and Intangible assets - Meaning and difference, concepts, methods of computation and accounting treatment of depreciation / amortization, change in depreciation method. | ||
| 6. Bills of exchange and Promissory notes | ||
| Meaning of bills of exchange and promissory notes and their accounting treatment; accommodation bills. | ||
| 7. Preparation of Final accounts of Sole Proprietors | III | 20%-25% |
| Elements of financial statements, closing adjustment entries, trading account, profit and loss account and balance sheet of manufacturing and non-manufacturing entities. | ||
| 8. Financial Statements of Not-for- Profit Organizations Significance and preparation of receipt and payment account, income and expenditure account and balance sheet, difference between profit and loss account and income and expenditure account. | ||
| 9. Accounts from Incomplete Records (excluding preparation of accounts based on ratios) | ||
| 10. Partnership and LLP Accounts | IV | 15%-20% |
| (i) Final accounts of partnership firms and LLP’s | ||
| (ii) Admission, retirement and death of a partner including treatment of goodwill | ||
| (iii) Dissolution of partnership firms and LLP’s including piecemeal distribution of assets | ||
| 11. Company Accounts | V | 15%-25% |
| (i) Definition of shares and debentures | ||
| (ii) Issue of shares and debentures, forfeiture of shares, re-issue of forfeited shares | ||
| (iii) Redemption of preference shares and debentures (excluding purchase and redemption of own debentures and sinking fund method) | ||
| (iv) Accounting for bonus issue and right issue | ||
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Paper 2: Business Laws
| Objective To develop general legal knowledge of the law of Contracts, Sales and understanding of various forms of businesses and their functioning to regulate business environment and to acquire the ability to address basic application-oriented issues. | ||
| Contents | Sections | Weight |
| 1. Indian Regulatory Framework- Major Regulatory Bodies such as Ministry of Finance, Ministry of Corporate Affairs, SEBI, RBI, IBBI, Ministry of Law and Justice etc. | I | 0%-5% |
| 2. The Indian Contract Act, 1872: General nature of contract, Consideration, Other essential elements of a valid contract, Performance of contract, Breach of contract, Contingent and Quasi Contract, Contract of Indemnity and Guarantee, Contract of Bailment and Pledge, Contract of Agency. | II | 20%-30% |
| 3. The Sale of Goods Act, 1930: Formation of the contract of sale, Conditions and Warranties, Transfer of ownership and Delivery of goods, Unpaid seller and his rights. | III | 15%-20% |
| 4. The Indian Partnership Act, 1932: General Nature of Partnership, Rights and Duties of partners, Reconstitution of firms, Registration and Dissolution of a firm. | IV | 15%-20% |
| 5. The Limited Liability Partnership Act, 2008: Introduction-covering nature and scope, Essential features, Characteristics of LLP, Incorporation and Differences with other forms of organizations. | V | 5%-10% |
| 6. The Companies Act, 2013: Essential features of company, Corporate veil theory, Classes of companies, Types of share capital, Incorporation of company, Memorandum of Association, Articles of Association, Doctrine of Indoor Management. | VI | 15%-20% |
| 7. The Negotiable Instruments Act, 1881: Meaning of Negotiable Instruments, Characteristics, Classification of Instruments, Different provisions relating to Negotiation, Presentment of Instruments, Rules of Compensation. | VII | 10%-15% |
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Candidates can check all about CA Foundation by downloading this E-Book.
Check NowPaper 3: Quantitative Aptitude
| Objective (a) To develop an understanding of the basic mathematical and statistical tools and apply the same in business, finance and economic situations. (b) To develop logical reasoning skills. The whole syllabus of Quantitative Aptitude shall be divided into three broad areas. Business Mathematics Logical Reasoning Statistics | ||
| Content | Section | Weight |
| Part A: Business Mathematics (40 Marks) | ||
| 1. Ratio and proportion, Indices and Logarithms: Ratio and proportion and Time and work-related problems, Laws of Indices, Exponents and Logarithms and Anti Logarithms. 2. Equations: Equations: Linear Simultaneous linear equations up to three variables, Quadratic and Cubic equations in one variable. Applications in Business related problems. 3. Linear Inequalities: Linear Inequalities: Linear Inequalities in one and two variables and the solution space | I | 20%-30% |
| 4. Mathematics of Finance o Simple Interest o Compound interest | II | 30%-40% |
| o Nominal and Effective Rate of Interest o Present Value o Net Present Value o Future Value o Perpetuity o Annuities o Sinking Funds o Calculating of EMI o Calculations of Returns: Nominal and Effective rate of Return o Compound Annual growth rate (CAGR) | ||
| 5. Permutations and Combinations: Basic concepts of Permutations and combinations: Introduction, the factorial, permutations, results, circular permutations, permutations with restrictions, Combinations with standard results. 6. Sequence and Series: Introduction Sequences, Series, Arithmetic and Geometric progression, Relationship between AM and GM and Sum of n terms of special series and Business Applications. 7. Sets, Relations, and Functions. Basics of Limits and Continuity functions. 8. Basic applications of Differential and Integral calculus in Business and Economics (Excluding the trigonometric applications). | III | 30%-50% |
| Part B: Logical Reasoning (20 Marks) | ||
| 9. Number series coding and Decoding and odd man out | IV | 20%-30% |
| 10. Direction Tests | 20%-30% | |
| 11. Seating Arrangements | 20%-30% | |
| 12. Blood Relations | 20%-30% | |
| Part C: Statistics (40 Marks) | ||
| 13. Unit 1: Statistical Representation of Data, Diagrammatic representation of data, Frequency distribution, Graphical representation of Frequency Distribution –Histogram, Frequency Polygon, Ogive, Pie-chart. Unit:2 Sampling: Basic principles of sampling theory, comparison between sample survey and complete enumeration, some important terms associated sampling types of sampling, sampling and non-sampling errors. 14. Measures of Central tendency and Dispersion: Measures of Central Tendency and Dispersion: Mean Median, Mode, Mean Deviation, Quartiles and Quartile Deviation, Standard Deviation, Co-efficient of Variation, Coefficient of Quartile Deviation. | V | 45%-50% |
| 15. Probability: Independent and dependent events; mutually exclusive events. Total and Compound Probability and Bayes’ theorem. 16. Theoretical Distributions: Random variables, Discrete and Continuous Random variables, Expectation of a discrete random variable, Theoretical | VI | 25%-30% |
| Distributions: Binomial Distribution, Poisson distribution – basic application and Normal Distribution – basic applications. | ||
| 17. Correlation and Regression: Scatter diagram, Karl Pearson’s Coefficient of Correlation Rank Correlation, Regression lines, Regression equations, Regression coefficients. | VII | 10%-15% |
| 18. Index Numbers: Uses of Index Numbers, Problems involved in construction of Index Numbers, Methods of construction of Index Numbers. BSE SENSEX and NSE | VIII | 10%-15% |
Paper 4: Business Economics
| Objective To develop an understanding of the concepts and theories of Economics and to acquire the ability for addressing application-oriented issues. | ||
| Contents | Section | Weightage |
| 1. Introduction to Business Economics Meaning and scope of Business Economics Basic Problems of an Economy and Role of Price Mechanism. | I | 5% |
| 2. Theory of Demand and Supply Meaning and Determinants of Demand, Law of Demand and Elasticity of Demand – Price, Income and Cross Elasticity Theory of Consumer’s Behaviour –Indifference Curve approach Meaning and Determinants of Supply, Law of Supply and Elasticity of Supply, Market Equilibrium and Social Efficiency. | II | 10% |
| 3. Theory of Production and Cost Meaning and Factors of Production, Short Run and Long Run Law of Production – The Law of Variable Proportions and Laws of Returns to Scale, Producer’s Equilibrium | III | 10% |
| Concepts of Costs – Short-run and long-run costs, Average and Marginal Costs, Total, Fixed and Variable Costs | ||
| 4. Price Determination in Different Markets Market Structures: Perfect Competition, Monopoly and Monopolistic Competition. Using Game Theory to study Oligopoly. Price Determination in these Markets Price- Output Determination under different Market Forms | IV | 15% |
| 5. Determination of National Income a Macro Economic Aggregates and Measurement of National Income b. Determination of National Income: Keynes’ Two Sector Basic Model, Three Sectors and Four Sectors Models | V | 15% |
| 6. Business Cycles - Meaning - Phases - Features - Causes behind these Cycles | VI | 5% |
| 7. Public Finance a. Fiscal functions: An Overview, Centre and State Finance b Market Failure/ Government intervention to correct market failure. | VII | 10% |
| c. Process of budget making: Sources of Revenue, Expenditure Management, and Management of Public Debt. d. Fiscal Policy | ||
| 8. Money Market a. Concept of Money Demand b. Important theories of Demand for Money c. Concept of Money Supply, Cryptocurrency and other new terminology d. Monetary Policy | VIII | 10% |
| 9. International Trade a. Theories of International Trade including theories of intra-industry trade by Krugman. b. Trade Policy – The Instruments of Trade Policy c. Trade Negotiations d. Exchange Rates and its economic effects e. International Capital Movements: Foreign Direct Investment | IX | 10% |
| 10. Indian Economy (Before 1950- Chanakya and Nand Vansh, OECD Paper (1950-1991), Basic knowledge 1991 Onwards | X | 10% |
CA Foundation Study Material 2024
ICAI also facilitates the candidates by providing complete subject-wise CA Foundation study material. This includes a comprehensive explanation of topics covered, revision question papers, mock test papers along with the outline of the syllabus that will be covered in the CA Foundation 2024 exam. The study material relevant for each year is updated by ICAI on its website.
Frequently Asked Question (FAQs)
1. How many subjects are there in CA Foundation exam 2024?
There are four subjects in CA Foundation exam 2024.
2. Is there any negative marking in the CA Foundation exam?
Negative marking is applicable to objective papers. Any wrong answer will deduct one-fourth mark in the paper.
3. What is the passing criteria for CA Foundation exam 2024?
To qualify the CA Foundation exam, candidates need to secure minimum 40% marks in each paper and an aggregate of 50% in all four papers.
4. What is the passing marks in ca foundation out of 400
A candidate has obtain a minimum of 40 marks in each paper and 220 marks in total out of 400 to pass the exam.
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Have a question related to CA Foundation Exam ?
If you chose chartered accountant (CA), then you have to write several exams and practical training. Here are some exams to write in your road to pursue CA, that are conducted by ICAI.
- If you have passed 10th, then you can take an entry level exam. This foundation course consists of 4 papers
- If you are a graduate or postgraduate with specified marks or higher degrees or you passed the foundation course then you can register for the IPCC. It consists of 2 groups with 4 papers each.
- After you pass either 1 or both groups of IPCC, you should pursue articleship.
- After completion or if you still have 6 months of your articles hip time, you can appear for the CA final exams. It consists of 2 groups each consists of 4 papers.
- Before appearing for your final exams, you should undergo AICITSS during the last 2 years of practical training.
- After you have passed in final exams and articleship, you can be a member of ICAI and can use Chartered Accountant before your name.
Rishitha 29 February,2024
Dear aspirant !
Hope you are doing well !
CA Foundation Exam Pattern 2024 – Details
- The CA Foundation examination consists of four papers.
- Paper 1 and Paper 2 are subjective type papers.
- Paper 3 and Paper 4 are objective type papers.
- The CA Foundation exam is conducted for a total of 400 marks, with each paper carrying 100 marks.
Candidates must successfully clear their 10th and 12th exams from a recognized educational institute . Also, the minimum mark they need to attain in their 12th standards is 50% aggregate. There is no age restriction to apply for the CA foundation.
The details of this exam is given below ;-
Hope it helps you !
Thanking you !!
Shivanshu 04 February,2024
A breach of contract refers to the failure of one party to fulfill its responsibilities under the terms of a contract, that leads to legal consequences and potential remedies for the non breaching party. In simple terms, it's when one party doesn't do what they promised to do in a contract.
A breach of contract can take various forms, including:
- Material Breach
- Minor Breach
- Anticipatory Breach
- Actual Breach.
Rishitha 06 February,2024
Hello,
I'm assuming you mean that you wrote wrong question booklet number in CA Foundation Maths exam and then corrected it using a whitener and wrote the correct number over it. If this is the case, then you don't need to worry as such mistakes happen a lot among students every year and as we cannot replace the OMR sheet, the invigilators suggest to use whiteners.
It's perfectly normal and acceptable. You need not worry about anything.
Hope this helps,
Thank you
Tanya Gupta 24 January,2024
Hello aspirant,
Due to unforeseen circumstances, the Institute of Chartered Accountants of India (ICAI) has changed the exam dates for the CA Foundation 2023 December session. The CA Foundation December 2023 exam will be held on December 31, 2023, and January 2,4,6, 2024, according to the updated CA Foundation timetable. Registration for the December 2023 session of the ICAI CA Foundation is currently closed. The CA Foundation June 2023 results had already been made public by the institute on August 7, 2023. A new education and training programme has also been announced by ICAI, and it will go into effect on July 1st, 2023.
For more information you can visit our site by clicking on the link given below.
https://finance.careers360.com/articles/ca-foundation-important-dates
Thank you
Hope this information helps you.
Sajal Trivedi 29 September,2023
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