Frequently Asked Questions
ICAI 2024 FAQs: CA Foundation | CA Intermediate | CA Final
Welcome to the Global Academician’s comprehensive guide to the frequently asked questions (FAQs) for the ICAI 2024 curriculum. In your pursuit of a career in chartered accountancy, staying informed is paramount. This dedicated section is designed to address your most pressing queries about the ICAI 2024 curriculum, ensuring that you are well-prepared for your CA journey.
Ans: New Scheme of Education and Training was introduced on CA Day, which falls on the 1st of July, 2023.
Ans: Below, you can find the significant dates related to the rollout of the New Scheme of Education and Training: ICAI 2024 Important Dates
Ans: The New Scheme of Education and Training comprises three levels: Foundation, Intermediate, and Final, which also includes Self-Paced Online Modules.
Ans: To register for the Foundation/Intermediate/Final levels under the New Scheme of Education and Training, students are required to use the Self Service Portal (SSP) accessible via this link: https://eservices.icai.org/.
Ans: If you have additional questions or need further assistance, you can reach out to the Board of Studies (Academic) at bos.nset@icai.in.
ICAI CA Foundation 2024 FAQs:
Ans: Enrollment in the Foundation Course is available after successfully passing the 10th-grade examination conducted by a recognized examining body in India, or an examination acknowledged as equivalent by the Central Government or State Government.
Ans: The fee for the Foundation Course is Rs. 3,000, which is required to be paid at the time of registration. This fee includes both the Prospectus for the CA Course and the Study Material for the Foundation Course.
Ans: Following a successful registration in the Foundation Course, students will receive an email containing login credentials to order the Study Material through the Centralized Distribution System (CDS) Portal. The Prospectus for the CA Course will be delivered to the student along with the Study Material when ordered.
Ans: The Study Material for the Foundation Course will be available on the BoS Knowledge Portal at the following link: [Insert Link] after the launch of the New Scheme of Education and Training on July 1, 2023. Hard copies of the Study Material can be ordered via the Centralized Distribution System (CDS) Portal after the confirmation of registration in the Foundation Course.
Ans: Your first attempt for the Foundation Examination under the New Scheme of Education and Training will be in June 2024 after appearing in the Class 12th examination conducted by an examining body recognized by law in India or an examination acknowledged as equivalent by the Central Government or State Government.
Ans: Your first attempt for the Foundation Examination under the New Scheme of Education and Training will be in June 2025 after appearing in the Class 12th examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government or the State Government as equivalent thereto.
Ans: To be eligible for the Foundation Examination in June or December, you must be registered in the Foundation Course with the Board of Studies of the Institute for a minimum period of four months on or before the 1st day of the month in which the examination is held. For example, to be eligible for the June 2024 Foundation Examination, you should have registered for the Foundation Course on or before February 1, 2024, and for the December 2024 Foundation Examination, you should have registered on or before August 1, 2024.
Ans: After registering in the Foundation Course, you must submit an online examination form to appear in the Foundation Examination. The examination form for June and December examinations typically opens in February and August, respectively. ICAI announces the opening of examination forms on its website.
Ans: The Foundation Course comprises 4 papers, as follows:
- Paper 1: Accounting (100 marks)
- Paper 2: Business Laws (100 marks)
- Paper 3: Quantitative Aptitude (100 marks)
- Business Mathematics
- Logical Reasoning
- Statistics
- Paper 4: Business Economics (100 marks)
Ans: The syllabus for the Foundation June 2024 Examination will adhere to the New Scheme of Education and Training. For detailed information, please refer to the following link: ICAI 2024 Syllabus
Ans: Foundation Examinations are held biannually in the months of June and December.
Ans: Paper 1 and 2 are subjective type, while Paper 3 and 4 are objective type.
Ans: Yes, there is a negative marking of 0.25 marks for every incorrect answer in the objective-type papers.
Ans: A student is declared to have passed the Foundation examination if they obtain a minimum of 40% marks in each paper and a minimum of 50% marks in the aggregate of all the papers at one sitting.
Ans: The registration in the Foundation Course is valid for 4 years from the first eligible attempt in the Foundation Examination.
Ans: Revalidation is not permitted at the Foundation level.
ICAI CA Intermediate 2024 FAQs:
Ans: A candidate can register for the Intermediate Course through one of two routes: (i) Foundation Route or (ii) Direct Entry Route.
Ans: Candidates who have passed the Foundation Examination and the Class 12th examination conducted by an examining body recognized by Indian law or an examination acknowledged as equivalent by the Central Government or the State Government are eligible for registration in the Intermediate Course through the Foundation Route.
Ans: Graduates/ Post-Graduates in Commerce (with a minimum of 55% marks) or Graduates/ Post-Graduates in fields other than Commerce (with a minimum of 60% marks) or candidates who have passed the Intermediate level of the Institute of Company Secretaries of India/ Institute of Cost Accountants of India are eligible for registration in the Intermediate Course through the Direct Entry Route.
Ans: You can provisionally register for the CA Intermediate Course through the Direct Entry Route. After successfully completing your Graduation with the required marks and finishing eight months of study in the Intermediate Course from the date of provisional registration, you will be eligible to appear in the Intermediate Examination.
Ans: You will become eligible for the Intermediate Examination upon successfully completing your Graduation with the required marks and finishing eight months of study in the Intermediate Course from the date of provisional registration.
Ans: You can register for the Intermediate Course through the Direct Entry Route based on the marks obtained in Graduation and appear in the Intermediate Examination after completing eight months of study from the date of registration.
Ans: You can provisionally register for the Intermediate Course through the Direct Entry Route during the final year of your Post-Graduation. After successfully completing your Post-Graduation with the required marks and finishing eight months of study in the Intermediate Course from the date of provisional registration, you will become eligible to appear in the Intermediate Examination.
Ans: If you registered during the last year of Graduation, your provisional registration for the Intermediate Course will be confirmed upon submission of your Graduation examination mark sheet with the required marks. The mark sheet should be submitted within six months of the Graduation examination result declaration. Alternatively, if you registered during the last year of Post-Graduation, your provisional registration will be confirmed upon submission of your Post-Graduation examination mark sheet with the required marks. The mark sheet should be submitted within six months of the Post-Graduation examination result declaration.
Ans: The Intermediate Examinations occur twice a year in May and November. To appear in the Intermediate Examination, a candidate must be registered in the Intermediate Course for a minimum period of eight months on or before the 1st day of the month in which the examination is held. For example, to be eligible for the May 2024 Intermediate Examination, a candidate should have registered in the Intermediate Course on or before September 1, 2023, and for the November 2024 Intermediate Examination, the registration should have been completed on or before March 1, 2024.
Ans: The registration fee for both groups of the Intermediate Course is Rs. 18,000.
Ans: After successful registration in the Intermediate Course through the Direct Entry Route, the student will receive an email with login credentials for ordering the Study Material through the Centralized Distribution System (CDS) Portal. The Prospectus for the CA Course will be delivered to the student along with the Study Material when ordered by the student.
Ans: You can appear for one group of the Intermediate Examination at a time, but you are required to register for both groups of the Intermediate Course.
Ans: The Intermediate Course consists of 6 papers as follows:
- Group I
- Paper 1: Advanced Accounting (100 marks)
- Paper 2: Corporate and Other Laws (100 marks)
- Paper 3: Taxation
- Section A – Income-tax Law (50 marks)
- Section B – Goods and Services Tax (GST) (50 marks)
- Group II
- Paper 4: Cost and Management Accounting (100 marks)
- Paper 5: Auditing and Ethics (100 marks)
- Paper 6: Financial Management and Strategic Management
- Section A – Financial Management (50 marks)
- Section B – Strategic Management (50 marks)
Ans: After successful registration in the Intermediate Course, the student will receive an email with login credentials for ordering the Study Material through the CDS Portal.
Ans: The Intermediate May 2024 Examination will follow the syllabus of the New Scheme of Education and Training, which is available at the following link: ICAI Intermediate Syllabus 2024
ICAI CA Final 2024 FAQs:
Ans: Students can register for the Final Course anytime after passing both groups of the Intermediate Examination. Registration for the Final Course will also include enrollment in Self-Paced Online Modules.
Ans: The fee for registering in both groups of the Final Course is Rs. 22,000.
Ans: The Final Course consists of 6 papers as follows:
- Group I
- Paper 1: Financial Reporting (100 marks)
- Paper 2: Advanced Financial Management (100 marks)
- Paper 3: Advanced Auditing, Assurance, and Professional Ethics (100 marks)
- Group II
- Paper 4: Direct Tax Laws & International Taxation (100 marks)
- Paper 5: Indirect Tax Laws (100 marks)
- Paper 6: Integrated Business Solutions (100 marks) (Multidisciplinary Case Study with Strategic Management)
Ans: After successfully registering for the Final Course, the student will receive an email containing login credentials to order the Study Material through the Centralized Distribution System (CDS) Portal. The student may order the Study Material for the Final Course and the Self-Paced Online Modules SET A and SET B through the CDS Portal.
Ans: You can appear for the Final Examination if you meet the following eligibility criteria:
- Registered for the Final Course
- Completed Practical Training six months before the first day of the month in which the examination is to be held
- Successfully completed Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS)
- Qualified all the 4 Self-paced Online Modules
Ans: The Final May 2024 Examination will follow the syllabus of the New Scheme of Education and Training, which is available at the following link: ICAI CA Final Syllabus 2024
Ans: The examination will consist of 30% case scenario/case-study-based MCQs and 70% descriptive questions in all the six papers of the Final Examination.
Ans: Assessment for Paper-6: Integrated Business Solutions (Multidisciplinary Case Study with Strategic Management) will be an open book examination. Assessment for all the other five papers will be through a closed book examination.
Ans: There is no negative marking in MCQ-based questions in the Final Examination.
Ans: A student is declared to have passed in both groups of the Final Examination simultaneously if they:
- Secure a minimum of 40% marks in each paper of each group at one sitting
- Secure a minimum of 50% marks in the aggregate of all papers of each group, or
- Secure a minimum of 40% marks in each paper of both groups at one sitting
- Secure a minimum of 50% marks in the aggregate of all papers of both groups taken together.
Alternatively, a student is declared to have passed in a group if they secure at one sitting a minimum of 40% marks in each paper of that group and a minimum of 50% marks in the aggregate of all papers of that group. They can pass both groups individually in different sittings.
Ans: If a student has appeared in all the papers in a group and fails in one or more papers but secures a minimum of 60% marks in any paper or papers of that group, they will be exempted for that paper or papers in which they have secured 60% or more marks for the immediately next three following examinations. The student will be required to obtain a minimum of 40% marks in each of the remaining papers and a minimum of 50% marks in the aggregate of all the papers, including the exempted paper(s) to pass the Group. If the student is not able to pass the said Group in the following three attempts and has exhausted the exemption granted to them, they may opt to continue the said exemption for the subsequent examinations, provided they obtain a minimum of 50% marks in each of the remaining paper or papers of that Group in order to pass that Group.
Ans: The validity period of registration in the Final Course is for 10 years from the date of registration in the Final Course, which can be revalidated every 10 years with a revalidation fee of Rs. 500.
We hope that these FAQs have provided you with a comprehensive understanding of the ICAI 2024 CA Foundation, Intermediate, and Final Courses. The New Scheme of Education and Training introduced by the Institute of Chartered Accountants of India (ICAI) aims to equip students with the knowledge and skills required to excel in the field of chartered accountancy.
Whether you are a prospective student, a current candidate, or a professional looking to further your education, these FAQs cover the important aspects of registration, eligibility criteria, examination patterns, and more. Stay updated with the latest syllabus and exam-related information to make the most of your CA journey.
Remember, the field of chartered accountancy is dynamic, and staying informed is key to success. For any additional queries or clarifications, you can always reach out to ICAI or visit their official website. We wish you the best of luck in your CA endeavors and hope that these FAQs have been a valuable resource for your educational journey.
