CA Foundation, CA Inter & CA Final Difference
CA (chartered accountancy) examination papers are available in Hindi and English, and that too for all levels. The only exceptions to this norm are the papers on accounting, advanced accounting, and taxation. These three papers are available only in English but you can answer them in Hindi if you want as well. The exam is conducted by ICAI also known as Institute of Chartered Accountants of India. The three levels of examination in this case are Foundation, Intermediate, and Final. These exams are conducted primarily based on computer tests and they happen two times a year — May-June and November-December.
The total marks in these exams are 100 and the passing number in each paper is 40. This is a tough exam where you get multiple attempts to pass.
CA Foundation Exam
The CA Foundation Exam can be called the starting point of the course proper. If you wish to take up this course following the completion of your 12th grade you will have to enroll at the Foundation level and successfully pass it as well. This initial exam comprises four levels and you must pass all of them to progress to the next level. If you want to pass the CA Foundation level you will need a minimum of 40% marks in each of your papers and a total of at least 55% in all the papers combined. The following table depicts the skill assessment grading criteria in the course:
Papers
Level I: Comprehension and Knowledge
Level II: Application
1
Principles and Practices of Accounting
5% — 20%
80% — 95%
2A
Business Laws
50% — 65%
35% — 50%
2B
Business Correspondence and Reporting
100%
NA
3
Business Mathematics and Logical Reasoning & Statistics
NA
100%
4I
Business Economics
40% — 50%
50% — 60%
4II
Business and Commercial Knowledge
100%
-
This is the second step in the CA program and you can jump straight into it provided you have completed your graduation. There are two options for this level of the CA program — the Old Scheme and the New Scheme. There are two groups of this particular level as well — Group I and Group II. Following is the marking system of the examination:
Papers
Level I: Comprehension and Knowledge
Level II: Analysis and Application
1
Accounting
5% — 15%
85% — 95%
2
Part I: Company Law
40% — 55%
45% — 60%
Part II: Other Laws
35% — 55%
45% — 65%
3
Cost and Management Accounting
20% — 30%
70% — 80%
4A
Income Tax Law
5% — 20%
80% — 95%
4B
Indirect Taxes
20% — 45%
55% — 80%
5
Advanced Accounting
5% — 15%
85% — 95%
6
Auditing and Assurance
30% — 55%
45% — 70%
7A
Enterprise Information Systems
40% — 65%
35% — 60%
7B
Strategic Management
50% — 70%
30% — 50%
8A
Financial Management
20% — 30%
70% — 80%
8B
Economics for Finance
60% — 80%
20% — 40%
This is the culmination of your journey to become a CA. When you complete this stage successfully you are provided with the certification from the governing body for this exam which allows you to work professionally as a CA. There are two schemes in this level — the Old Scheme and the New Scheme — and there are two groups — Group I and Group II. If you wish to know how you will be graded in this exam you need to take a look at the table that has been provided below:
Papers
Level I: Comprehension and Knowledge
Level II: Analysis and Application
Level III: Evaluation and Synthesis
1
Financial Reporting
5% — 15%
55% — 85%
15% — 25%
2
Strategic Financial Management
10% — 20%
20% — 40%
50% — 60%
3
Advanced Auditing and Professional Ethics
15% — 25%
40% — 70%
20% — 30%
4
Corporate & Economic Laws
Part I — Corporate Law
15% — 25%
40% — 55%
30% — 35%
Part II — Economic Laws
30% — 50%
50% — 70%
5
Strategic Cost Management and Performance Evaluation
10% — 15%
45% — 55%
35% — 40%
6
Direct Tax Laws and International Taxation
Part I: Direct Tax Laws
5% — 10%
55% — 75%
20% — 35%
Part II: International Taxation
40% — 50%
50% — 60%
7
Indirect Tax Laws
Part I: Goods and Services Tax
10% — 30%
40% — 70%
20% — 30%
Part II: Customs and FTP (File Transfer Protocol)
20% — 40%
40% — 70%
10% — 20%
Depending on the paper you are taking the exam duration can be anywhere between two hours and four hours.
