The authority has released the ICAI Exam prospectus on the official website of the organization. The ICAI Exam is for the students who want to become CA or Chartered Accountant one day. The CA is a lot in demand as they help people in financial accounting or filing Income tax etc. The ICAI Exam this year was scheduled to be conducted in May 2020 this year but was deferred citing the pandemic. In this article, we will discuss the whole ICAI process.
ICAI Exam
Table of Contents
The ICAI Exam is divided into three levels, foundation, intermediate, and final level. The students have to clear the three levels successfully to become a successful CA one day. The foundation level of the ICAI is very easy while the intermediate and final level is on a tougher side. The students find it difficult to clear these two levels. The ICAI has also offered the students the two patterns for the intermediate and final level i.e. the old syllabus or the new level. The difference between the new and old syllabus is that the older one has fewer subjects than the new one.
Summary of ICAI Exam
Summary | Details |
Conducting Organisation | Institute of Chartered Accountants of India |
Notified Exam | ICAI Exam/ IPCC Exam |
Online Registration | 05 February 2020- 30 August 2020 |
Application Process | Online |
Latest Exam Dates | To be notified later |
Mode of Exam | Online computer based test |
Location | Pan India |
Qualification | The candidate needs to have completed his Class 12th/graduation/post-graduation from a recognised Board or University. |
Prospectus | Read Here |
Admit Card for ICAI CA | Available soon |
Official Website | Click Here |
Eligibility Criteria of ICAI Exam
CA Foundation Level
The eligibility criteria of the ICAI Exam is given below, the students must go through the eligibility criteria of the Chartered Accountancy programme before applying:
- The candidates who wish to apply must have completed 10+2 in any stream, Commerce will be preferred from a recognized board
- The candidates must have scored at least 50 per cent marks in the Class XII exam.
CA Intermediate Level
- The candidate who wishes to apply for CA Intermediate Level must have completed his Graduation degree in Commerce stream,
- or the candidate must have completed CA Foundation level.
CA Final Level
- The candidate must have qualified the CA Intermediate level to apply for the CA Final Level.
How to apply for the ICAI application form?
I am sharing the form filling guidelines that will help students to fill up your application form for ICAI Exam from the official website. Follow simple steps which are given below to submit your ICAI Exam Application Form 2020.
- Go to the official website of the ICAI
- Click on the student’s section.
- Then, Click on the ICAI Student’s announcement,
- Click on the “Apply” tab on the home page.
- Click on ICAI Exam Notification 2020 and read it carefully.
- After reading ICAI Notification, click on the proceed button.
- Enter your details to complete the registration process.
- After that login again using your Registration ID and Password.
- Now upload required scanned documents i.e. passport size photo and signature and make a payment of application fees.
- After paying the application fees which is Rs 1500 for Group one while 2700 for Group 1 and Group 2,
- At last, Click on the submit button and take a print out of your application form.
- Note down the registration number and password for future use.
Syllabus and Exam Pattern of ICAI
CA Foundation Level
The foundation level of CA is divided into four subjects, the questions will be subjective/objective in nature. The first two papers will be compulsory while the last two papers will be optional in nature. There will be a negative marking of 0.25 marks for each wrong answer. The question asked in the exam will be subjective, while the last two papers will be objective in nature.
- Principles and Practices of Accounting- 100 marks
- Business Law and Business Correspondence and Reporting- 60 marks
- Business Mathematics and Logical Reasoning and Statistics- 100 marks
- Business Economics and Business and Commercial Knowledge- 40 marks
CA Intermediate Level
For the Intermediate level, the students are given two choices viz Old course and New course. This is the toughest session of the whole ICAI pattern and students find it very difficult to crack this level. The ICAI Intermediate level is conducted for 8 subjects in two groups. Let’s have a look at both the syllabus offered by the organisation for the ICAI Exam:
Old Pattern | New Pattern |
Cost Accounting & Financial Management- 100 marks | Cost Accounting & Financial Management- 100 marks |
Taxation- 100 marks | Taxation- 100 marks |
Accounting- 100 marks | Accounting- 100 marks |
Corporate Laws and Other Laws- 60 marks | Corporate Laws and Other Laws- 60 marks |
Advanced Accounting- 100 marks | Advanced Accounting- 100 marks |
Auditing and Assurance- 100 marks | Auditing and Assurance- 100 marks |
Information Technology and Strategic Management- 100 marks | Enterprise Information Systems & Strategic Management- 100 marks |
Financial Management & Economics for Finance- 100 marks |
CA Final Level
Old Pattern | New Pattern |
Advanced Auditing & Professional Ethics-100 marks | Financial Services and Capital Markets -100 marks |
Corporate and Allied Laws-100 marks | International Taxation -100 marks |
Financial Reporting -100 marks | Economic Laws-100 marks |
Strategic Financial Management- 100 marks | Global Financial Reporting Standards-100 marks |
Advanced Management Accounting | Financial Reporting-100 marks |
Information Systems Control and Audit | Strategic Financial Management-100 marks |
Direct Tax Laws-100 marks | Advanced Auditing and Professional Ethics-100 marks |
Corporate and Economic Laws-100 marks | |
Strategic Cost Management and Performance Evaluation-100 marks Risk Management -60 marks | |
Multidisciplinary Case Study-100 marks | |
Direct Tax Laws and International Taxation-100 marks | |
Indirect Tax Laws-100 marks | |
Financial Services and Capital Markets |
For further more queries regarding ICAI Exam, feel free to comment below. We will assist you and provide appropriate information regarding your queries. Thanks!