As per the new curriculum by ICAI, Common proficiency test(CPT) is now replaced by CA foundation. The earlier syllabus pattern of CPT was an objective based paper, but now CA foundation consists of four different papers, namely- Paper 1-Principles and practice of accounting, and Paper-2 Business Laws and Business correspondence and reporting are theoretical examinations of 100 marks each held with a gap of one days. Paper-3 of Business mathematics and logical reasoning and statistics, and Paper-4 of Business economics and business commercial knowledge are also of 100 marks each, but are having objective type questions, and the time allowed is 2 hours. Further, for Paper 1 and Paper 2 there is no negative marking, while for the other two papers there is negative marking of 0.25 marks.
- Dev Arora
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Complete Overview of Course:
The Institute of Chartered Accountants of India changed its exam pattern in July 2017 and shifted to a CA new course. However, till now there are some students who are registered under the old course, and the last attempt for the final old course was May 2021, and after that, ICAI has made it mandatory for all students to register under the new course.
Now coming to the entry-level in this professional course, there are two ways to enter into the course of CA, one through the direct entry and the other is entry through the foundation route. Under the direct entry route all candidates who have done graduation in the commerce field or who have passed intermediate level examinations conducted by the Institute of Company Secretaries of India or the Institute of Cost Accountants, whereas in entry through foundation course one has to clear CA foundation examination with 50 percent minimum marks.
After that one has to register with ICAI for an intermediate course. Intermediate examinations are conducted twice a year and it consists of two groups, namely, Group-1 and Group-2. A study period of 8 months minimum is mandatory to appear in this exam. If one is able to complete both the groups then he/she will become eligible for practical training known as Articleship. Before that, though, it is mandatory to cover four weeks of ICITSS, a combination of information technology and orientation course.
Under the Articleship cycle, a candidate goes through rigorous training of three years which would enrich his practical knowledge and gain experience in the fields of audit, taxation, etc. After completion of three years(30months) of Articleship, one can register himself for the final examination, and before giving this exam one has to complete 4 weeks of advanced ICITSS training in the last two years of practical training. One can appear for the final exam in the last six months of practical training after completing advanced ICITSS. If you are able to complete all papers in the final exam then you can apply for membership of ICAI.
Fee structure-
1) Foundation course - Rs.9800 which is divided as Rs.9000 fee, Rs.200 for the prospectus, and Rs.600 for the journal which is optional.
2) Intermediate level - Rs.15000 for the registration fee, Rs.2000 for student activities fees, and Rs.1000 for Articleship Assistant.
3)Final registration fee is Rs.22000.
Note - 1) The Fee structure is different for students registering from Jammu, Kashmir, Ladakh, and North Eastern states.
2) No need to worry about study materials, as ICAI itself provides well-developed modules to students. Once you register for the course and place the order for books, they are delivered to your registered address free of cost.
3)Live coaching is conducted by ICAI to facilitate its students on an online platform.
- Dev Arora
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