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ICAI Exam

Updated on - Jun 05th, 2020 | 09:00 PM by Vishnu Vardhan

ICAI Exam

ICAI Exam

ICAI exam is widely known as CA exams. It is conducted by the Institute of Chartered Accountants (ICAI), with an aim to produce more chartered accountants in India. ICAI conducts these examinations corresponding to different levels of the Chartered Accountancy course, in relation to Chartered Accountants Regulations 1988.

Read on to find out more about 'ICAI Exam'. You can also jump to any required topic from the table of contents given below.

What is ICAI Exam?

ICAI

ICAI or Institute of Chartered Accountants of India is a statutory body that was established by an Act of Parliament, with a purpose of regulating the profession of Chartered Accountancy in India. It works under the administrative control of the Ministry of Corporate Affairs, Government of India. Institute of Chartered Accountants of India is the second largest professional body of Chartered Accountants across the globe and has always had a strong tradition of service to the Indian economy in public interest. It has achieved great recognition as a premier accounting body, both domestically and globally, for maintaining the highest standards in technical and ethical areas. ICAI also sustains strict examination and education standards.

ICAI exam is also known as CA exams. It is widely conducted by ICAI with an aim to promote chartered accountancy in India. Candidates who intend to make their career in this field are required to enroll for the program at ICAI and will have to qualify all levels of exams within a specified period of time, in order to receive the certification as a Chartered Accountant.

Following are the levels in Chartered Accountancy courses.

  • CA CPT - Chartered Accountants Common Proficiency Test
  • CA Foundation
  • Intermediate- Integrated Professional Competence Test
  • Final Examination

Scope of Chartered Accountants

The scope for Chartered Accountants has only been growing as the years pass by. Let's take a look at the reasons why Chartered Accountancy will always be a good career option for aspirants.

  • Chartered Accountants can set up their own practice and will not have to work under another person if they don't intend to.
  • They can apply for jobs in existing premier firms.
  • Qualified Chartered Accountants are also preferred for Government jobs.
  • Candidates who qualify from ICAI can also practice in countries like England, Wales and Australia.
  • Charted Accountants can also work in both the financial and manufacturing sectors.

ICAI Exam Eligibility

Given below is the eligibility criteria for all levels of ICAI exam.

Eligibility for CPT

Here are the eligibility criteria for the CA CPT exam.

  • Candidates who have passed their 12th standard from a recognized school/board.
  • Candidates who have registered for CA CPT at least 60 days prior to the first day of the month in which it is to be conducted, i.e. on or before 1st April and 1st October, are eligible to attend the exam that is to be held in June and December respectively.
  • Graduates or Post Graduates in Commerce with minimum marks of 55% or equivalent grade in exams conducted by any recognized university (inclusive of Open University). Or Graduates or Post Graduates in any other stream with minimum marks of 60% or equivalent grade in exams conducted by any recognized University (inclusive of Open University) are exempted from having to pass CA CPT.

Eligibility for Intermediate (IPC)

The eligibility criteria for the Intermediate exam is divided into three categories:

  • Category 1: Candidates who have passed their CPT and 10+2/PE I/ Foundation/Entrance Examination.
  • Category 2: Candidates who have previously d for Intermediate Examination
  • Category 3: Direct entry
    • Candidates who have already registered for the intermediate course/ATC and also have completed/would be completing nine months of practical training(inclusive of the study course for a period of eight months).
    • Candidates who have converted from Intermediate/PE-II/PCC/IPCC/CPT into the Intermediate (IPC) Course/ATC under this category and have also completed 9 months of practical training.
    • Candidates who have registered for IPC course through CPT route did not pass any intermediate exam, and converted to Intermediate (IPC) under the Direct Entry Scheme, commencing practical training on or before 31st October 2016.
    • Eligibility criteria are same as Graduates/Post Graduates, for Intermediate level examination passed students of The Institute of Cost Accountants of India/The Institute of Company Secretaries of India.
    • Candidates must ensure that he/she is enrolled for the relevant level(s) of the Intermediate (IPC) Course or/and their registration is valid.
    • Candidate must have undergone a study course, for a period not less than eight months, as may be specified by the Council for the relevant level(s), and will be required to produce a proof of the same when sought.

Note- Registration to the Intermediate (IPC) course is valid for a period of 4 years.

Eligibility for Final Examination

Here is the eligibility for CA Final Examination.

  • Candidates who have passed the Intermediate exam or Professional Education Exam are considered eligible to apply.
  • Candidates are also required to have completed 3 years or 3½ years of articled training as on the date they fill the application form.
  • For PE-II stream student and PE-II stream students converted to IPCC, the candidate must have been serving the last twelve months of articled training including excess leave, if any. The candidate is due to complete 3 years on or before 31st October 2017.
  • For PCC stream students, the candidate must have been serving the last six months of articled training including excess leave, if any. The candidate is due to complete 3½ years on or before 30th April 2017.
  • For Intermediate IPCC student, the candidate must have been serving the last six months of training including excess leave, if any. The candidate is due to complete 3 years on or before 30th April 2017.
  • For students who converted from PE-II to PCC, as well as students converted from PE-II to PCC and then to IPCC, the candidate must have been serving the last twelve months of training including excess leave, if any. The candidate is due to complete 3½ years article ship on or before 31st October 2017.

Note- For candidates who had taken termination, it is advised to re-register for the balance period of training.

ICAI Exam Dates

Here are the important ICAI Exam dates.

ICAI Exam dates
Event/Schedule Date
Registration date for CA CPT (without late fee) April 04, 2019 to April 25, 2019
Registration date for CA CPT (with late fee of INR 600/-) April 25, 2019 to May 02, 2019
Registration for CA Foundation, Intermediate, and Final (without late fee) February 20, 2019 to March 12, 2019
Registration for CA Foundation, Intermediate, and Final (with late fee of INR 600/-) March 13, 2019 to  March 19, 2019
Application Correction window March 27, 2019 to April 02, 2019
Application Correction Window for CPT exam May 06, 2019 to May 12, 2019
Admit card for CA Exams Foundation, Intermediate, and Final Registrations May 06, 2019
Foundation Exam (old and new) (Group I) June 4, 7, 11,and 24,2019
Intermediate Exam (old and new)

Group I- May 28 & 30, and June 1 & 3, 2019

Group II- June 6, 8 & 10, 2019

Final Exam (old and new)

Group I- May 27, 29 & 31, and June 4, 2019

Group II- June 7, 9 & 11, and24, 2019

CA CPT Exam (Group I)

June 16, 2019

ICAI Application Form

Candidates can fill the ICAI application form online. Here are the steps that one can follow for the registration.

  • Candidates must register themselves of the official ICAI website.
  • Choose your registration number in the drop-down list.
  • Authenticate the registration number using course+SRN+DOB.
  • After the authentication, enter valid email id and password.
  • Login with your registration number and password.
  • Provide your address and other details as necessary.
  • Verify email id and mobile number
  • Once you've filled up the form, upload all necessary documents.
  • Pay your application fee through credit card/debit card. The fees payable for CPT or Common Proficiency Test is INR 1000/- for centers in India, INR 1700/- for centers in Kathmandu (Nepal) and $ 300/- for centers located in Abu Dhabi, Doha, Dubai & Muscat. Candidates can also obtain the form from - 'Deputy Secretary (Examinations), The Institute of Chartered Accountants of India, lCAl Bhawan, Indraprastha Marg, New Delhi - 110002' on a payment of INR 1500/- (INR 500/- towards examination fee and INR 1000/- towards the application form).
  • Download the filled form.

Note- In case the scanned photograph and signature do not appear on the application form, paste your recent passport sizer photo and take a printout of it. Send the printout to the address given below by only speed/registered post, with "Online Application Form for CPT Exam" mentioned on the envelope.

THE JOINT SECRETARY (EXAMS.), EXAMINATION DEPARTMENT
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
'ICAI BHAWAN', INDRAPRASTHA MARG
NEW DELHI – 110 002

ICAI Exam Admit Card

Candidates can log in to the official ICAI website with their Registration Number and Password to download ICAI admit card. Here are the steps the candidates can follow in order to download the admit card.

  • Visit the official website of ICAI.

  • Click on the login/Registration tab

  • Log in using your registered login ID (registration number) and password

  • Click on the tab 'admit card'

  • Download the admit card for your respective CA exam.

Note- ICAI will not send any admit card to any candidate by post. The admit card for CA exams will be available in online mode only and candidates need to download it before the date of the exam.

ICAI Exam Pattern

Exam pattern for CA CPT (Chartered Accountants Common Proficiency Test)

The Common Proficiency Test is of an objective type. It is conducted on an offline basis and will be divided into two sessions of 2 hours each.

Exam pattern for CA CPT
Section Subject Maximum Marks Minimum Marks
A Fundamentals of Accounting 60 18
B Mercantile Laws 40 12
C General Economics 50 15
D Quantitative Aptitude 50 15
Total 200 100

Negative marking- There will be a negative marking of 1/4 mark deduction (one fourth) for each wrong answer.

The question paper will be available to candidates in both English and Hindi medium for answering the questions.

Exam pattern for Intermediate IPC

The Intermediate IPC exam is conducted on an offline mode. It will consist of seven papers in total.

  • Accounting
  • Advanced Accounting
  • Business Law, Ethics and Communication
  • Auditing and Assurance
  • Cost Accounting and Financial Management
  • Taxation
  • Information Technology and Strategic Management

Question papers of Accounting, Advanced Accounting and Taxation will be in English only, but the candidates can answer them in Hindi if they want to.

ICAI Exam Syllabus

Having a thorough idea of the syllabus will help candidates in preparing better for the exam. Here is the ICAI exam syllabus.

Syllabus for CPT

Fundamentals of Accounting

  1. Theoretical Framework
    • Meaning and Scope of accounting
    • Accounting Concepts, Principles, and Conventions
    • Accounting Standards – concepts, objectives, benefits
    • Accounting Policies
    • Accounting as a measurement discipline
  2. Accounting Process
  3. Bank Reconciliation Statement
  4. Inventories
  5. Preparation of Final Accounts for Sole Proprietors
  6. Depreciation accounting
  7. Introduction to Company Accounts
  8. Partnership Accounts
  9. Accounting for Special Transactions

Mercantile Law

  1. The Indian Contract Act, 1872
  2. The Sale of Goods Act, 1930
  3. The Indian Partnership Act, 1932

General Economics

  1. Micro Economics: Introduction
  2. Theory of Production and Cost
  3. Theory of Demand and Supply
  4. Price Determination in Different Markets
  5. Indian Economy – A Profile
  6. Economic Reforms in India
  7. Select Aspects of Indian Economy
  8. Money and Banking

Quantitative Aptitude

  1. Ratio and proportion, Indices, Logarithms
  2. Inequalities
  3. Equations
  4. Basic concepts of Permutations and Combinations
  5. Simple and Compound Interest including annuity
  6. Sequence and Series – Arithmetic and geometric progressions
  7. Limits and Continuity - Intuitive Approach
  8. Sets, Functions, and Relations
  9. Basic concepts of Differential and Integral Calculus (exclusive of trigonometric functions)
  10. The statistical description of data
  11. Measures of Central Tendency and Dispersion
  12. Index Numbers
  13. Sampling Theory

Syllabus for Intermediate IPC course exam

  • Accounting
  • Business Law, Ethics and Communication
  • Cost Accounting and Financial Management
  • Information Technology and Strategic Management
  • Taxation
  • Auditing and Assurance
  • Advanced Accounting

Final Examination Syllabus

Group I

  • Financial Reporting
  • Advanced Auditing and Professional Ethics
  • Strategic Financial Management
  • Corporate and Allied Laws

Group II

  • Advanced Management Accounting
  • Information Systems Control and Audit
  • Direct Tax Laws
  • Indirect Tax Laws

ICAI Exam Results

The ICAI Exam results will be announced on the official website. Candidates can download CA CPT and other scorecards by using their respective login IDs. Following are the steps you can follow for downloading your ICAI exam result.

  • Visit the official ICAI website.

  • Click on the tab indicating 'Result'.

  • Click on the given link in order to view the result/scores of your CA course.

  • Enter your registration number and password.

  • Click on the 'submit' button to check CA result.

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