CA exam — 6 things to know| Pattern, eligibility, and more!

It’s a tough nut to crack when it comes to passing the CA exam. Unlike other courses, simply passing the admission exam does not guarantee that the individual will complete the degree. If you want to enroll in the CA course, you’ll have to go through a series of stages that are filled with stumbling blocks.

However, there is no need to panic as we have covered all the details you need about the CA exam and the course. So, let’s begin!

Who is a Chartered Accountant?

A Chartered Accountant is a professional who supervises accountants and works in several industries. A Chartered Accountant’s responsibilities include monitoring a company’s finances, providing financial feedback and suggestions, and so on.

Chartered Accountants are in high demand since every industry need a robust financial management structure. A Chartered Accountant’s responsibilities include:

• Auditing
• Accounting
• Financial Management
• Consultancy 
• Tax Management
• Cost Accounting

If you are a CA aspirant, look at what this exam is and why it is considered one of the toughest courses across the world.

1. What is ICAI?

The Institute of Chartered Accountants of India (ICAI) is the highest authority in the accounting profession in India, and CA aspirants all over the country hold it in high regard.

ICAI was set up by the Government of India in 1949 through the Chartered Accountancy Act. Moreover, it is a globally recognized institute. Therefore, clearing the ICAI CA exam should be your target if you are a CA aspirant in India. It is one of the most lucrative career options for a reason.

2. Eligibility criteria for CA

As you may have already guessed, to become a CA, you will need to go through different levels of the CA course. But, there are specific eligibility criteria that you need to meet for sitting for this exam. There are essentially two ways you can go about this the foundation route or the direct entry route. 

• Foundation route: To take this route for the CA entrance exam, you will have to complete your class 12 from any board (CBSE, ICSE, or state board). Then you will have to register with the Board of Studies (BoS) and go through a 4-month study period. It is only after this that you will be eligible to sit for the CA exam.

• Direct entry route: You can also skip the foundation course and gain direct entry into the intermediate course of CA. For this, you have to be a graduate or a postgraduate with a minimum of 55% to 60% aggregate score in the commerce stream. You are also eligible for this route if you have already passed the intermediate levels at the Institute of Company Secretaries of India and the Institute of Cost Accountants of India.

3. How to become a CA?

If you meet the above eligibility criteria, it is time to prepare, and finally, apply for the ICAI CA exam. Here are the steps you should follow to prepare for the exam, ace it, and establish yourself as a practicing CA.

• First and foremost, register yourself with the Board of Studies right after you complete your 12th grade. You can do this twice a year (up to the 30th of June or 31st of December every year).
• You will have an incumbent 4-month study period for preparing for the CA foundation exam. 
• After clearing your CA foundation course, you will once again need to register with BoS for the CA intermediate exam. 
• You will have an 8-month-long study course to complete, after which you will be evaluated in the CA intermediate exam.
• Next, you will have to go through 3 years of articleship or practical training.
• You will get time in the final 6 months of your articleship to revise all that you have learned during your study period and work experience of those 3 years. 
• Finally, you will sit for the CA final exam. This is the last step before being recognized as a Chartered Accountant. 

Although the ride to becoming a CA might be bumpy, the respect and income you earn are worth the tough journey. 

4. What is the CA exam pattern?

Have you made up your mind? Are you determined to crack the CA exam and finally earn your place amongst the cream of accountants in India, as well as abroad? If your answer is yes, have a look at the CA exam pattern for the different levels.  

CA Foundation Exam:

Papers	Name	Sub-sections	Marking Scheme [Level 1]	Marking Scheme [Level 2]
Paper 1	Principles and Practice of Accounting	–	5%-20%	80%-95%
Paper 2	Business Laws & Business Correspondence and Reporting	Section A: Business Laws Section B: Business Correspondence and Reporting	Section A: 50%-65% Section B: 100%	Section A: 35%-50%
Paper 3	Business Mathematics and Logical Reasoning & Statistics	Part 1: Business Mathematics and Logical Reasoning Part 2: Statistics	–	100%
Paper 4	Business Economics & Business and Commercial Knowledge	Part 1: Business Economics Part 2: Business and Commercial Knowledge	Part 1: 40%-50%	Part 1: 50%-60%

CA Intermediate Exam: Group 1

Paper	Subject	Sub-sections	Marks Distribution	Level I Comprehension & Knowledge	Level II Application
Paper 1	Accounting	–	100	5%-15%	85%-95%
Paper 2	Corporate and other Law	Part 1: Company Laws Part 2: Other Laws	Part 1: 60 Part 2: 40	Part 1: 40%-55% Part 2: 35%-55%	Part 1: 45%-60% Part 2: 45%-65%
Paper 3	Cost and Management Accounting	–	100	20%-30%	70%-80%
Paper 4	Taxation	Part 1: Income Tax Law Part 2: Indirect Tax Law	Part 1: 60 Part 2: 40	Part 1: 5%-20% Part 2: 20%-45%	Part 1: 80%-95% Part 2: 55%-80%

CA Intermediate Exam: Group 2

Paper	Subject	Sub-sections	Marks Distribution	Level I Comprehension & Knowledge	Level II Application
Paper 5	Advance Accounting	–	100	30%-55%	45%-70%
Paper 6	Adulting and Assurance	–	100	5%-15%	85%-95%
Paper 7	Enterprise Information System and Strategic Management	Part 1: Enterprise Information System Part 2: Strategic Management	Part 1: 50 Part 2: 50	Part 1: 30%-55% Part 2: 50%-70%	Part 1: 45%-70% Part 2: 30%-50%
Paper 8	Financial Management and Economics for Finance	Part 1: Financial Management Part 2: Economics for Finance	Part 1: 60 Part 2: 40	Part 1: 20%-30% Part 2: 60%-80%	Part 1: 70%-80% Part 2: 20%-40%

CA Final Exam: Group 1

Paper	Subject	Sub-sections	Marks Distribution	Level I Comprehension & Knowledge	Level II Application	Level III Evaluation and Synthesis
Paper 1	Financial Reporting	–	100	5%-15%	60%-85%	10%-25%
Paper 2	Strategic Financial Management	–	100	10%-20%	20%-40%	50%-60%
Paper 3	Advanced Auditing and Professional Ethics	–	100	20%-30%	45%-70%	10%-20%
Paper 4	Corporate and Allied Law	Part 1: Corporate Law Part 2: Allied Laws	Part 1: 70 Part 2: 30	Part 1: 10%-20% Part 2: 40%-60%	Part 1: 60%-70% Part 2: 40%-60%	–

CA Final Exam: Group 2

Paper	Subject	Sub-sections	Marks Distribution	Level I Comprehension & Knowledge	Level II Application	Level III Evaluation and Synthesis
Paper 5	Strategic Cost Management and Performance Evaluation	–	100	10%-15%	40%-55%	35%-40%
Paper 6	Information Systems Control and Audit (Candidate has to choose one subject of the six)	1. Risk Management 2. Financial Services and Capital Markets 3. International Taxation 4. Economics Laws 5. Global Financing Reporting Standards 6. Multidisciplinary Case Study	100	–	–	–
Paper 7	Direct Tax Laws and International Taxation	Part 1: Directs Tax Laws Part 2: International Taxation	Part 1: 70 Part 2: 30	Part 1: 5%-10% Part 2: 15%-25%	Part 1: 60%-80% Part 2: 75%-85%	Part 1: 15%-30% Part 2: –
Paper 8	Indirect Tax Laws	Part 1: Goods and Services Tax Part 2: Customs and FTP	Part 1: 75 Part 2: 25	Part 1: 10%-30% Part 2: 20%-40%	Part 1: 40%-70% Part 2: 40%-70%	Part 1: 20%-30% Part 2: 10%-20%

5. What is the CA exam date?

If you think you are prepared and are considering going for the exams this year, here are the exam dates for the CA foundation course. 

• December 2021: 13th, 15th, 17th, and 19th. 

However, if you have attempted the CA intermediate level exam in July this year and are waiting for your results, you will have to wait a little longer because the CA exam result has not been declared yet.

On the other hand, if you have already registered for the CA final exam earlier in June this year, pull up your socks as the exam is just around the corner. The dates are:

• December 2021: 5th, 7th, 9th, 11th, 13th, 15th, 17th, and 19th.

However, we recommend you keep an eye on the CA final exam date if you are currently doing your CA articleship.

6. CA Exam: Application form

Since it is always a good idea to take some time off and prepare, you may wish to apply for the CA foundation next year. If this is your plan, keep an eye on the latest CA exam news. You can download the form for this exam from the official website of ICAI. All you need to do is visit “icaiexam.icai.org” whenever you get the notification that the form is available there.

What is Next?

So there you have it a guide to begin your prep for becoming a CA. There’s no looking back once you become a CA. You will be able to choose from a wide range of job options both in India and abroad. Make sure you are aware of the CA exam date and are informed of the latest CA exam news from day one. 

Drop your comments if you feel we should add anything else here. Also, you can always reach out to us! 

Go, nail that exam! 

FAQs

Q1. How many exams are there in CA?

Answer: There are 3 levels of exams in CA foundation, intermediate, and final.

Q2. How to fill the CA foundation exam form?

Answer: You need to fill in all the personal, educational, and professional details asked in the form. Attach a statement of authorization by your legal guardian, as well as the head of your institution. Along with this, you also need to attach a copy of your class 12 mark sheet, class 10 mark sheet, and a passport-size photo.

Q3. Is the CA exam postponed for 2021?

Answer: No, the CA exam has not been postponed this year.