The CA foundation was previously offered as the CPT exam or the common proficiency test and later it has been replaced as the CA foundation course by the ICAI.
The CA foundation exam hsa the following subjects:
- Principles and practice of accounting
- Business law and business correspondence reporting (two parts each)
- Business mathematics and logical reasoning and with statistics (again considered as two parts that are for 60 marks and statistics for 40 marks)
- Business economics and business commercial knowledge
It is essential to score a minimum of 40 percent in each of these papers and a minimum of 50 percent overall aggregate. The third and fourth paper will consist of objective type questions and there will also be negative marks for a wrong answer.
The paper 1 will seem to be easy for those who come from the commerce background and they just need to brush their basics before appearing for the exam. The second paper is really important and it will include all the corporate laws and regulations pertaining to businesses and governance. It is essential that students take notes as and when they prepare so that they can make use of the notes for revision.
The paper 2 also calls for good written communication skills just to match the communication skills of the current era of CAs.
Paper 3 requires a lot of practice and students will be advised to take a lot of mock assessments that are offered by the CA coaching institutes because students need to gain accuracy and excellent problem solving skills. Taking a lot of assessments will help students keep a track on their timing to attempt the objective type questions.
The ICAI website itself has a lot of learning resources such as revision test papers, mock test papers, solved previous year question papers, and so on. Students can make the best use of these resources and the key to success in clearing the CA foundation is a lot of practice and that has to be consistent. For those students who take up the foundation exam after their 12th standard, statistics paper might seem a little difficult but this too can be mastered with regular practice and attempting mock assessments that are conducted by a lot of CA institutes.
The paper 4, business and commercial knowledge is a theoretical paper and students have to ensure that they are strong in the fundamentals of the subjects. It is a mix of both objective and theory papers.
Having the right resources of information and learning material, devising a proper strategy for oneself in terms of preparation and regular practice can take them to the trail of success. As often said, ensure you stay positive and determined throughout your journey and work hard to achieve your goals.
As a CA aspirant, if you are struggling to find the best CA academy that can assure you success, it is definitely Fundazone. They have been instrumental in the success of a lot of aspirants.
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