CA Foundation

CA Foundation is contemplated as the new entrance level for the Chartered Accountancy course in our country. It was previously known by the name of Common Proficiency Test (CPT).

CPT was the foremost level of Chartered Accountancy examinations in India. Its name was altered to CA Foundation in agreement with ICAI revised scheme. Any student having completed 10th grade can register for CPT and take the exam after completing 12th grade. Commerce graduates are also eligible to take the exam of CPT. CPT was basically an objective type examination and consisted of 200 multiple choice questions. It comprised four primary subjects divided into two sections. 

The changed CA Foundation entrance allows candidates to register for it after taking the 12th board exams and then appear the CA Foundation exam after qualifying the 12th grade examinations. Hence, it is mandatory for a candidate to be a 12th passout for appearing the CA Foundation entrance level.

CA Foundation is a partly subjective and a partly objective test consisting of four papers. The four papers are Principles and Practices of Accounting, Business Laws and Business Correspondence and Reporting, Business Mathematics and Logical Reasoning and Statistics, Business Economics and Business and Commercial Knowledge. The first two papers are subjective and the next two papers are objective. Each paper is of 100 marks, hence the entrance being of 400 marks. 

Accounting is the measurement, processing and sharing of financial and non-financial information among economic entities such as businesses and corporations.

Practitioners of accounting are referred to as accountants. Accounting is popularly known as the language of business. It calculates the outcomes of an organization's economic activities and conveys this information to a wide variety of users, such as investors, creditors, management and regulators.

Business law is otherwise referred to as corporate law or enterprise law. It is the body of law which governs the rights, relations, conduct of people, companies, organizations and businesses. Business law usually describes the law concerning matters which derive directly from the life cycle of a corporation.