Introduction
Aspiring to become a Chartered Accountant (CA) is a journey that demands dedication, perseverance, and thorough preparation. The CA exams conducted by the Institute of Chartered Accountants of India (ICAI) are renowned for their rigour and challenge. To aid you in your preparation for the upcoming CA exams in 2024, this blog provides a comprehensive overview of the exam dates, patterns, syllabus, eligibility criteria, and more.
Overview of the CA Exam
The CA exam comprises three levels: CA Foundation, CA Intermediate, and CA Final. Each level tests candidates on various subjects, ranging from accounting principles to taxation laws. Successfully passing all three levels leads to acquiring an ICAI membership and becoming a certified Chartered Accountant.
CA Exam Details
Conducted twice a year, the CA exams for 2024 offer candidates the opportunity to appear in either the May/June or November/December sessions. The exams consist of multiple-choice questions, theoretical assessments, and practical applications, challenging candidates to demonstrate comprehensive knowledge and critical thinking skills.
ICAI CA Exam Levels:
Each level of the CA exam has specific eligibility criteria:
- CA Foundation: Class 12 pass or equivalent with a minimum percentage requirement.
- CA Intermediate: Completion of the CA Foundation or graduation from a recognized institution.
- CA Final: Completion of both groups of the CA Intermediate level and requisite articleship training.
Dates for the ICAI CA Exam in 2024- For the May 2024 session:
- CA Foundation: June 20 to June 26, 2024
- CA Intermediate: May 03 to May 17, 2024
- CA Final: May 02 to May 16, 2024
Syllabus for CA Exams 2024
- The syllabus for each level of the CA exam is extensive, covering subjects such as accounting, taxation, auditing, and business laws. Below is a summarized overview of the syllabus for 2024:A table summarizing the syllabus for CA Exams 2024:
CA Exam Level Subjects Marks CA Foundation Paper 1: Principles and Practice of Accounting 100 Paper 2: Business Laws 100 Paper 3: Business Mathematics, Logical Reasoning & Stats 100 Paper 4: Business Economics 100 CA Intermediate Paper 1: Advanced Accounting 100 Paper 2: Corporate and Other Laws 100 Paper 3: Taxation 100 Paper 4: Cost and Management Accounting 100 Paper 5: Auditing and Ethics 100 Paper 6: Financial Management and Strategic Management 100 CA Final Paper 1: Financial Reporting 100 Paper 2: Advanced Financial Management 100 Paper 3: Advanced Auditing, Assurance & Professional Ethics 100 Paper 4: Direct Tax Laws & International Taxation 100 Paper 5: Indirect Tax Laws 100 Paper 6: Corporate and Economic Law, Strategic Cost & Performance Management 100 Paper 7: Direct Tax Laws 100 Paper 8: Indirect Tax Laws 100 Exam Pattern and Marking Scheme 2024
Understanding the exam pattern and marking scheme is essential for successful preparation. Here’s an outline of the exam pattern and marking scheme for each level:
A table for the Exam Pattern and Marking Scheme 2024:
CA Exam Level Exam Pattern Marking Scheme CA Foundation Paper 1: Principles and Practice of Accounting Level 1: 5-20%
Level 2: 80-95%Paper 2: Business Laws Level 1: 50-65%
Level 2: 35-50%Paper 3: Business Mathematics, Logical Reasoning & Stats Level 2: 100% Paper 4: Business Economics Level 1: 40-50%
Level 2: 50-60%CA Intermediate Paper 1: Advanced Accounting Level 1: 5-15
Level 2: 85-95%Paper 2: Corporate and Other Laws Level 1: 40-55%
Level 2: 45-60%Paper 3: Taxation Level 1: 5-20%
Level 2: 80-95%Paper 4: Cost and Management Accounting Level 1: 20-30%
Level 2: 70-80%Paper 5: Auditing and Ethics Level 1: 30-55%
Level 2: 45-70%Paper 6: Financial Management and Strategic Management Level 1: 20-30%
Level 2: 70-80%CA Final Paper 1: Financial Reporting Comprehension & Knowledge: 5-15%
Analysis & Application: 55-85%
Evaluation & Synthesis: 15-25%Paper 2: Advanced Financial Management Comprehension & Knowledge: 10-20%
Analysis & Application: 20-40%
Evaluation & Synthesis: 50-60%Paper 3: Advanced Auditing, Assurance & Professional Ethics Comprehension & Knowledge: 15-25%
Analysis & Application: 40-70%
Evaluation & Synthesis: 20-30%Paper 4: Direct Tax Laws & International Taxation Comprehension & Knowledge: 15-25%
Analysis & Application: 40-55%
Evaluation & Synthesis: 30-35%Paper 5: Indirect Tax Laws Comprehension & Knowledge: 10-15%
Analysis & Application: 45-55%
Evaluation & Synthesis: 35-40%Paper 6: Corporate and Economic Law, Strategic Cost & Performance Management Comprehension & Knowledge: 10-30%
Analysis & Application: 40-70%
Evaluation & Synthesis: 20-30%Paper 7: Direct Tax Laws Comprehension & Knowledge: 5-10%
Analysis & Application: 55-75%
Evaluation & Synthesis: 20-35%Paper 8: Indirect Tax Laws Comprehension & Knowledge: 20-40%
Analysis & Application: 40-70%
Evaluation & Synthesis: 10-20%
Conclusion
Becoming a Chartered Accountant is a prestigious achievement that opens doors to lucrative career opportunities. However, it requires diligent study, strategic planning, and unwavering dedication. By familiarizing yourself with the CA exam details, syllabus, and exam patterns outlined in this blog, you’re taking the first step towards success in the CA exams of 2024.
FAQs
1. What is the age limit to register for the CA course?
There is no age restriction for students looking to enroll in the CA course.
2. What is the entrance exam for CA called?
The entrance exam for CA is called the CA Foundation exam.
3. How many exams are there in Chartered Accountancy?
There are a total of 16 exams in the Chartered Accountancy course. The CA Foundation has 4 exams, whereas the CA Intermediate and Finals have 6 papers each.
4. Can I pursue CA without Maths?
Yes, one can pursue CA without Maths as a subject in Class 12th.
5. How many attempts are there for the CA exams?
The CA Foundation has 6 attempts, CA Intermediate has 8 attempts, and CA Final has 10 attempts.
6. Which level of the CA examinations is the toughest to clear?
The CA Final exam is considered the toughest stage of CA exams.
7. What board is ideal for a career in Accountancy?
Candidates must complete Class 12th exams from the central or state board. There is no specific board requirement to appear for the CA foundation after the 12th.
8. What are the total marks in the CA exams?
CA Foundation is for 400 marks, CA Intermediate is for 600 marks, and CA Final exam is for 600 Marks. Each subject is worth 100 marks.
9. Which exams are harder between CA and IIT?
Both CA and IIT exams are challenging. Both have a 15-20% passing percentage, making them equally difficult in their own right.
By addressing these frequently asked questions, we aim to provide clarity and guidance to aspiring Chartered Accountants preparing for the challenges ahead.