• Written By Abhishek_verma
  • Last Modified 29-08-2022

CA Foundation Notification 2022: Latest Updates

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CA Foundation Notification 2022: Institute of Chartered Accountants of India has started the registration process on its official website. The CA Foundation exam for November/ December session registration has started and the last date to fill out the form is August 31, 2022.

According to the official notification, the said exam is scheduled to be conducted in the first week of December, at the designated exam centres. Scroll down to read more on CA Foundation Notification 2022!

Latest Update:
– July 31, 2022: The last date to register for the ICAI CA November/December session is August 31, 2022. Click here for the direct link to fill out the application form.
– August 1, 2022: Candidates can pay the late fee and submit their application form by September 7, 2022.

CA Foundation Notification 2022: Overview

Before getting into the details of the CA Foundation Exam, let’s have an overview of the exam:

Name Of The Exam CA Foundation Exam
Conducting Body Institute of Chartered Accountants of India (ICAI)
Level of Exam National Level
Frequency of Exam Twice a Year (May and November)
Mode Of Exam Offline (Pen and Paper Based)
Mode  Of  Registration Online
Number Of Papers 4
Medium of ExamEnglish/ Hindi
(English compulsory for Section B of Paper 2)
Basic EligibilityPassed Class 12 or Appearing for Class 12 in Current Year
ExemptionsGraduates and Post Graduates or Candidates with Equivalent Qualification
Official Website icai.org

CA Foundation May 2022 Exam Date

The CA Foundation May 2022 exam date has been released. Let’s go through the important dates for CA Foundation from the table below:

EventsDates For May SessionDates For November/December Session
Application process commencementJuly 2, 2022August 1, 2022
Last date to register with the Board of StudiesJanuary 1, 2022August 31, 2022
Availability of exam formFebruary 21, 2022To Be Announced
Last date to fill the exam date without a late feeMarch 13, 2022To Be Announced
Last date to fill CA foundation exam form 2022 with a late fee (of Rs. 600)March 14 to 20, 2022To Be Announced
Correction windowMarch 21 to 30, 2022To Be Announced
Admit card release dateTo Be AnnouncedTo Be Announced
CA Foundation 2022 exam dateMay 23, 25, 27 and 29, 2022
June 25, 26, 28, and 30, 2022
To Be Announced
CA Foundation result declarationTo Be AnnouncedTo Be Announced

Opt-Out Facility For CA Foundation (November/ December Session)

Considering the prevalent situation of Coronavirus outbreaks across the country, ICAI has provided an option to opt-out of the CA entrance exam for Foundation (November/ December session). Check the details from the points listed below:

The Institute of Chartered Accountants of India (ICAI) makes it mandatory for all candidates who opted out from the May 2022 session of the exam and choose November/ December 2022 to apply afresh. This implies for candidates appearing for all levels of examination such as CA Foundation, CA Intermediate and CA Final.

  1. All candidates who have successfully registered and applied for CA Foundation (November/ December session) will be eligible to exercise this option.
  2. Students are allowed to opt-out of the upcoming CA entrance exam for Foundation. This will be carried forward to the next examination.
  3. For students opting out of the exam, the applications submitted for the November/ December session will be treated as cancelled and will not be counted as an attempt.
  4. The examination fee paid by the students for this attempt will be carried forward to the next session.
  5. The candidature of the candidate will be cancelled once he/she opt-out of the exam and they will have to apply again in November session. However, the exam fee will be adjusted when applying for the next session.
  6. Once the candidate has decided not to appear for this attempt and opted out of the exam, he/ she cannot opt back to take the CA entrance exam for Foundation.

How to Opt-Out of CA Foundation Exam?

Here, we have enlisted the step by step process to fill CA Foundation form on the official website. Candidates must go through these steps to know more about the same.

1st Step: Visit the official website – icaiexam.icai.org.

2nd Step: Click on the CA Foundation Opt-Out link.

3rd Step: Fill the declaration form and submit it.

4th step: Once submitted, the candidature of the student for the November/ December 2022 examination cycle will be cancelled and he/she will be shifted to the next exam cycle.

Note that, once a student has opted out, it will be treated as final. No requests for its change will be entertained under any circumstances

CA Foundation Application Form Correction

The application correction window is soon to be released on the official website. Those who missed precision while filling out the CA Foundation application form can take this opportunity to rectify it. The exam centre can be changed by visiting the official website.

What is ICAI CA Foundation?

Chartered Accountant (CA) Foundation is an entry-level Chartered Accountancy Course. In order to become a CA, the candidate will have to clear three stages of the selection process, namely ICAI CA Foundation, CA Intermediate, and CA Final. Among these three stages, CA Foundation is the first stage to becoming a Chartered Accountant.

Candidates aspiring to become a Chartered Accountant after 10+ 2 can register and appear for the CA Foundation exam. In order to appear for CA Foundation, candidates must have passed 10+ 2. Candidates who have completed their graduation or Post graduation will not be eligible for the ICAI CA Foundation exam. Besides that, candidates who have cleared Intermediate levels of ICSI or ICMAI will also not be eligible for the CA Foundation course.

Steps in ICAI CA Foundation Course

Candidates will have to undergo the following steps to clear CA Foundation 2022:

1st Step: Qualify 10+2 and register with the Board of Studies (BOS). (Complete the CA Foundation registration by December 31 for the May Session and by June 30 for the November session)

2nd Step: Complete the four-month study period for CA Foundation

3rd Step: Apply for CA Foundation as per the schedule and make sure that you have passed Class 12 (if not passed during registering for CA Foundation )

4th Step: Appear for the Foundation examination in November/ May after passing the 10+2 examination.

5th Step: Qualify Foundation Course and register for the Intermediate Course.

Note that, there are three major stages to becoming a Chartered Accountant. These three stages are CA Foundation, Intermediate, and Final stage. Students need to clear the three stages to become a Chartered Accountant (CA).

CA Foundation Eligibility Criteria 2022

Candidates who have either passed Class 12 or going to appear for the Class 12 exam conducted by an examining body constituted by the law in India (or any examination recognized by the Central Government as equivalent thereto) are eligible for this exam.

Before applying for CA Foundation, candidates must go through the CA Foundation eligibility criteria. CA Foundation eligibility criteria are as follows:

  1. Candidate must have passed or appeared this year for Class 12 or any equivalent examination carried out by a recognized board.
  2. Candidates must have registered for the CA Foundation (by December 31, for the May session and by June 30, for the November session)
  3. After successful registration, candidates will have to undergo a minimum of 4 months of study period before appearing for the foundation exam.

Note that, if the candidate is going to appear for the Class 12 examination then he/ she can register for the course. However, he/ she can only apply and appear for the exam if and only if he/ she qualifies for the 10+ 2 (Class 12) exam or equivalent examination.

How To Apply For CA Foundation?

CA Foundation registration and online application are conducted through online mode.

Registration
The first step is to register for CA Foundation. Once you have registered, it will be valid for three years. In this period candidates can apply for the CA Foundation May/ November examination. Candidates can apply and appear for a maximum of six attempts in three years.

CA Foundation Online Application

  1. Visit the official website – icaiexam.icai.org.
  2. Register as a new user to apply online by entering the details and verifying the OTP. A new Login ID will be generated.
  3. Log in using the ‘Login ID’ and ‘Password’. Fill the application form and upload the documents.
  4. Check the details for correctness and submit the CA Foundation application form.
  5. Make Payment to complete the application process. Take a printout of the filled application form for future reference.

CA Foundation Registration Fee Vs Application Fee

Candidates appearing for the CA Foundation exam for the first time will have to pay both the registration fee and application fee.

CA Registration: ICAI CA registration is open across the year and candidates can register with BOS (Board of Studies) across the year. However, candidates must make sure that they register with ICAI on or before December 31/ June 30 to appear for the exam in May/ November respectively.

CA Online Application: Once the candidate has registered with ICAI, he/ she can apply for the CA Foundation exam which is conducted in May and November every year.

  1. Candidates need not get confused between the registration fee and application fee. Candidates will first have to register for the CA Foundation and pay the registration fee.
  2. Thereafter, candidates can fill the online application form as per schedule. In this process, candidates should also pay the application fee to complete the application process.
  3. However, if the candidate has already registered for ICAI CA (BOS) he/ she needs not pay the registration fee again as it is valid for three years from the date of online registration.

CA Foundation Registration Fees

The CA Foundation registration fees are tabulated below:

Details of FeeFor Indian Nationals (Rs)For Foreign Students (USD)
Cost of Foundation Prospectus20020
Foundation Registration Fee9000700
Subscription for Student’s Journal (For One Year ) (Optional)20020
Subscription for Member’s Journal (For One Year ) (Optional)40040
Total9800780

CA Foundation Application Fee

Candidates will have to pay the application fee through VISA or MASTER or MAESTRO credit card/ debit card/ Rupay card/ net banking. It is mandatory to pay the application fee to complete the application process and to appear for the examination. Check the CA Foundation Application Fee details from the table below:

Exam CentreApplication Fee
For Indian CentresRs. 1500/-
For Katmandu (Nepal) CentreRs. 2200/-
For Overseas Centres (Abu Dhabi, Doha, Dubai, Muscat)US$ 325

CA Foundation Exam Pattern

The CA entrance exam for Foundation consists of four papers. Paper 1 and Paper 2 consist of subjective type questions. Paper 3 and Paper 4 consist of objective type questions.

  1. Each paper carries 100 marks and the maximum duration is 3 hours.
  2. Paper 3 and Paper 4 have the negative marking scheme and 1/4th of the marks will be deducted for every wrong answer.
  3. Candidates must score a minimum of 40% marks in each paper and a minimum of  50% marks in aggregate of all the papers to pass the CA Foundation exam.
Type of QuestionsPaper 1 & 2 – Subjective/ Long Answer Questions
Paper 3 & 4 – Multiple Choice Questions
Medium of Examination English or Hindi
(Note that, Section B of Paper 2, i.e., Business Correspondance and Reporting will be conducted in English Medium only)
Mode of ExamOffline

CA Foundation Papers

CA entrance exam for Foundation consists of four papers. The papers of the exam are listed below:

PapersSections
Paper 1 Principles And Practice Of Accounting (100 Marks)
Paper 2Business Laws And Business Correspondence
a) Business Laws (60 Marks)
b) Business Correspondence And Reporting (40 Marks)
Paper 3Business Mathematics, Logical Reasoning And Statistics
a) Business Mathematics (40 Marks)
b) Logical Reasoning(20 Marks)
c) Statistics (40 Marks)
Paper 4Business Economics And Business & Commercial Knowledge
a) Business Economics (60 Marks)
b) Business and Commercial Knowledge (40 Marks)

CA Foundation Admit Card

CA Foundation Admit Card will be made available only after the successful completion of the application and payment process before the last date. Candidates need to download their Admit Card by logging in using their registration number and password. The admit card consists of all the necessary details like the candidate’s name, roll number, photo, signature, etc. If there is any discrepancy in your admit card, contact the official authorities immediately.

Candidates who are going to appear for the upcoming exam need to compulsorily carry the hard copy of their hall ticket along with valid ID proofs to the exam centre. Candidates without the CA Foundation hall ticket will not be allowed to attempt the exam.

CA Foundation Result

The result of the CA entrance exam for Foundation will be released on the official website (icaiexam.icai.org) after the exam is conducted. All the registered users will be notified through mail and SMS when the results are announced.

Candidates can download their CA Foundation result from the official website by logging in using their registration number and password. Candidates will also be able to download their scorecards. Besides that, the officials will also release CA Foundation merit list which usually consists of the details of the top 50 ranks of the CA Foundation exam.

FAQs on CA Foundation Notification 2022

Here, we have enlisted some of the most important frequently asked questions related to CA Foundation 2022. Candidates must go through these questions and answers to clear out their doubts regarding the same subject.

Q.1: What is the CA Foundation exam?
A:
CA Foundation is the entry-level examination conducted for candidates who want to pursue the career of Chartered Accountant. This is the first step to becoming a Chartered Accountant after passing Class 12.

Q.2: Is CA Foundation Easy?
A:
CA Foundation exam is been introduced in place of the CA CPT exam. CA Foundation has a higher difficulty level when compared to CA CPT.

Q.3: Who is Eligible for CA Foundation?
A:
All the 12th Pass candidates are eligible for the CA Foundation exam. Graduates, Post-Graduates and other equivalent qualifications will not be eligible for the exam.

Q.4: What are the subjects in CA Foundation?
A:
CA Foundation consists of four papers, namely:
1. Principles and Practices of Accounting.
2. Business Laws and Business Correspondence and Reporting.
3. Business Mathematics and Logical Reasoning & Statistics.
4. Business Economics & Business and Commercial Knowledge.

Q.5: Is the calculator allowed in CA Exam?
A:
Yes, a normal calculator is allowed. However, a scientific calculator or calculator with more than 6 functions, 12 digits, and 2 memories is not allowed.

Now, you know all about the CA Foundation exam 2022. As the exam is approaching, candidates will have to focus on their preparation. Go through the detailed CA Foundation syllabus and exam pattern and plan your study. Studying in a methodical way will help you cover the syllabus within time.

Make the best use of the CA Foundation study materials and books to prepare for the exam. Take a sufficient number of mock tests to assess your performance from time to time. Taking mock tests will also help you to prepare and revise the concepts resulting in score improvement.

We hope this article on CA Foundation 2022 helps you. If you have any questions, feel free to post them in the comment box below. We will get back to you as soon as possible.

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