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| Aspect | Existing | Proposed |
|---|---|---|
| Eligibility for admission | Register with BoS after passing class 10 examinations. | Same as Before |
| Validity of registration | No Restrictions | 4 years from the date of registration. |
| Eligibility for appearance in examination | Appear in Foundation examination after appearing in class 12 examination and completing minimum study period of 4 months before the 1st day of the month in which examination is held | Same as Before |
| Current | Proposed |
|---|---|
| Paper -1 : Principles and Practice of Accounting | Paper -1 : Accounting |
| Paper -1: Some portion of Existing CA Inter Accounting subject would be included in Proposed CA Foundation Accounting syllabus so as to increase the standard of the Foundation level. | |
| Paper -2 : Business Laws and Business Correspondence and Reporting | Paper -2 : Business Laws |
| Paper -2: Business Correspondence and Reporting is being excluded in the proposed scheme. To facilitate students with the requisite communication skills, an online course would be launched on English/Business communication, which would be recommendatory. Earlier Business Laws was asked for 60 marks. Now it will cover full 100 marks of the paper as Business and Commercial Reporting part will be removed. | |
| Paper -3 : Business Mathematics and Logical Reasoning and Statistics | Paper -3 : Quantitative Aptitude
|
| Paper -4 : Business Economics & Business & Commercial Knowledge | Paper -4 : Business Economics |
| Paper -4 : As per existing syllabus Business Economics is asked for 60 marks. Now as per proposed syllabus, Economics will be asked for full 100 marks and it would include Topics from existing CA Inter Economics for Finance subject. Business and Commercial Knowledge part which was asked for 40 marks will be removed and will be integrated in their practical training. | |
| Aspect | Current Scheme | Proposed Scheme |
|---|---|---|
| Registration for Foundation / appear for 10+2 | Start | Start |
| Appear for Foundation Examination | 4 months | 4 months |
| Study for Intermediate Examination | 8 months | 8 months |
| Articleship | 36 months | 24 months |
| Study for Final Examination | - | 6 months |
| Total period to become ICAI member | 48 months | 42 months |
| Work experience for applying CoP | - | 12 months |
The above neither includes time taken for declaration of results nor waiting time before next exam falls due. However, with the proposal to conduct online examination and / or more than 2 exams in a year, the time for results or next exam due would come down.
| Aspect | Proposed / Existing | Foundation | |||
|---|---|---|---|---|---|
| Number of papers | Existing | 4 papers | Proposed | 4 papers | |
| No. of Examinations in a Year | Existing | 2 | Proposed | 2 (to be increased to 3 after systems are in place) | |
| Medium (Language) | Existing | English or Hindi | Proposed | English or Hindi | |
| Manner of assessment | Existing | Partly Subjective and Partly Objective | Proposed | Partly Subjective and Partly Objective (with negative marking of 25% for each wrong answer to MCQs) | |
| Negative marking would prevent students from resorting to guess work while answering questions. They would strive to improve their preparation and hone their application skills in order to answer correctly in the MCQ based papers | |||||
| Pass percentage | Existing | 40% in each paper and 50% in aggregate (with negative marking) | Proposed | 50% in each paper | |
