ICAI CA Foundation Examination 2026 — Complete New Scheme Guide

The Chartered Accountancy (CA) Foundation examination is the entry-level qualifying hurdle conducted by The Institute of Chartered Accountants of India (ICAI), the statutory body established by an Act of Parliament (Chartered Accountants Act, 1949).

Under the New Scheme of Education and Training, the CA Foundation curriculum has been restructured to strengthen foundational accounting, commercial law, quantitative data interpretation, and micro/macroeconomic decision-making.

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1. ICAI CA Foundation — At a Glance (Verified 2026)

Parameter	Official Verified Details
Conducting Authority	The Institute of Chartered Accountants of India (ICAI)
Course Level	Entry Level (First Stage of the CA Course)
Exam Frequency	3 Times a Year: January, June, September
One-Time Registration Fee	₹9,000 INR (Includes official physical study material coupon on CDS)
Exam Application Fee	₹1,500 INR per attempt (₹2,200 with late fee)
Total Number of Papers	4 Papers (Total 400 Marks)
Exam Duration	Papers 1 & 2: 3 Hours (2:00 PM – 5:00 PM) | Papers 3 & 4: 2 Hours (2:00 PM – 4:00 PM)
Reading Time Allocation	15 Minutes (1:45 PM – 2:00 PM) for Papers 1 & 2 only (No reading time for Papers 3 & 4)
Minimum Passing Criteria	40% in each individual paper AND 50% aggregate across all 4 papers (200/400)
Negative Marking	0.25 Marks deducted for wrong answers in Paper 3 & Paper 4 (MCQs)
Registration Validity	4 Years (12 exam attempts). Can be revalidated for ₹300 INR for another 4 years
Official Portal	Self Service Portal (SSP): eservices.icai.org

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2. Eligibility & Mandatory 4-Month Study Period

Eligibility Rules

1. Class 10 Provisional Registration: Candidates can provisionally enroll in the Foundation Course through the ICAI SSP portal after passing the Class 10 examination conducted by a recognized board.
2. Regular Registration: Candidates who have passed or appeared in the Senior Secondary (10+2) examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government.
3. Mandatory 4-Month Study Period: A candidate must be registered with the Board of Studies (BoS) of ICAI for at least 4 months before the first day of the month in which the examination is held:
   • For June Exam: Must register on or before February 1.
   • For September Exam: Must register on or before May 1.
   • For January Exam: Must register on or before September 1 of the preceding year.

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3. The 4 Papers Detailed Syllabus Breakdown (New Scheme)

The New Scheme syllabus consists of 4 comprehensive papers designed to prepare students for the rigorous CA Intermediate level:

Paper 1: Accounting (100 Marks — Descriptive / 3 Hours)

• Theoretical Framework: Meaning and scope of accounting, accounting concepts, principles and conventions, capital and revenue expenditures, contingent assets and contingent liabilities, Indian Accounting Standards (Ind AS) overview.
• Accounting Process: Books of original entry, ledger posting, trial balance, rectification of errors.
• Bank Reconciliation Statement (BRS): Causes of differences, preparation with adjusted cash book.
• Inventories: Valuation of inventories (FIFO, Weighted Average, Cost vs NRV).
• Depreciation and Amortization: Straight Line Method (SLM), Written Down Value (WDV), change in method.
• Bills of Exchange and Promissory Notes: Trade bills, accommodation bills, insolvency of drawee.
• Preparation of Final Accounts of Sole Proprietors: Trading account, Profit & Loss account, Balance Sheet with adjustments.
• Financial Statements of Not-for-Profit Organizations (NPO): Receipt and Payment Account, Income and Expenditure Account, Balance Sheet.
• Accounts from Incomplete Records (Single Entry): Conversion method, statement of affairs.
• Partnership and LLP Accounts: Goodwill valuation and treatment, admission, retirement, death of a partner, dissolution of partnership firms.
• Company Accounts: Issue, forfeiture, and reissue of shares, issue of debentures, basic financial statement formats under Schedule III of Companies Act 2013.

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Paper 2: Business Laws (100 Marks — Descriptive / 3 Hours)

Focuses purely on Indian commercial statutes (Note: Business Correspondence & Reporting - BCR is completely removed).

• Indian Regulatory Framework: Major legislative bodies, legal system, court hierarchy.
• The Indian Contract Act, 1872: Nature of contracts, offer and acceptance, capacity of parties, free consent, consideration, legality of object, void agreements, performance of contracts, discharge of contract, breach and remedies, quasi-contracts, contingent contracts.
• The Sale of Goods Act, 1930: Formation of the contract of sale, conditions and warranties, transfer of ownership, performance of contract, rights of unpaid seller.
• The Indian Partnership Act, 1932: General nature of partnership, rights and duties of partners, registration and dissolution of a firm.
• The Limited Liability Partnership Act, 2008: Meaning, characteristics, incorporation of LLP, partners and their relations, financial disclosures.
• The Companies Act, 2013: Essential features, corporate veil theory, classes of companies (Private, Public, OPC, Small Company), Memorandum of Association (MOA), Articles of Association (AOA), doctrine of indoor management, doctrine of ultra vires.
• The Negotiable Instruments Act, 1881: Promissory notes, bills of exchange, cheques, crossing of cheques, holder in due course, dishonour of cheques (Section 138).

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Paper 3: Quantitative Aptitude (100 Marks — Objective MCQ / 2 Hours / 0.25 Negative Marking)

Divided into 3 distinct sections:

Section	Marks	Key Mathematical & Statistical Topics
Part A: Business Mathematics	40 Marks	Ratio, Proportion, Indices, Logarithms; Equations (Linear, Quadratic, Matrices); Linear Inequalities; Time Value of Money (Simple Interest, Compound Interest, Annuities, Perpetuity, Net Present Value, Effective Rate); Permutations and Combinations; Sequence and Series (AP, GP); Sets, Relations, and Functions; Basic Differential and Integral Calculus.
Part B: Logical Reasoning	20 Marks	Number Series, Coding and Decoding, Odd Man Out; Direction Sense Tests; Seating Arrangements (Linear, Circular); Blood Relations.
Part C: Statistics	40 Marks	Statistical Representation of Data (Histograms, Frequency Polygons, Ogives); Measures of Central Tendency (Mean, Median, Mode, Geometric Mean, Harmonic Mean) and Dispersion (Standard Deviation, Variance, Quartile Deviation, Mean Deviation); Probability (Independent events, Conditional probability, Bayes' Theorem); Theoretical Distributions (Binomial, Poisson, Normal); Correlation and Regression (Karl Pearson's coefficient, Spearman's rank correlation, regression lines); Index Numbers.

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Paper 4: Business Economics (100 Marks — Objective MCQ / 2 Hours / 0.25 Negative Marking)

Covers Microeconomics, Macroeconomics, and Indian Economic Environment (100% pure economics; BCK removed).

• Introduction to Business Economics: Meaning, scope, micro vs macroeconomics, positive vs normative economics.
• Theory of Demand and Supply: Law of demand, determinants, elasticity of demand (Price, Income, Cross), consumer equilibrium (Marginal Utility & Indifference Curve analysis), law of supply, elasticity of supply, market equilibrium.
• Theory of Production and Cost: Production function (Short run — Law of Variable Proportions; Long run — Returns to Scale), cost concepts, short-run and long-run cost curves.
• Price Determination in Different Markets: Perfect Competition, Monopoly, Monopolistic Competition, Oligopoly (Kinked demand curve, Cartels).
• National Income Accounting: Concepts of GDP, GNP, NNP at market price and factor cost, measurement methods (Output, Income, Expenditure), nominal vs real GDP.
• Public Finance & Fiscal Policy: Fiscal functions, market failure, public goods vs merit goods, fiscal instruments, budget deficit types.
• Money Market & Monetary Policy: Demand for money (Classical, Keynesian), supply of money ($M_1, M_2, M_3, M_4$), credit creation, instruments of monetary policy (Repo, Reverse Repo, CRR, SLR, Open Market Operations).
• International Trade: Theories of international trade (Comparative advantage), trade policy instruments (Tariffs, Quotas), exchange rate determination, balance of payments (BoP).
• Indian Economy: Overview of post-liberalization economic reforms, primary, secondary, and tertiary sectors, NITI Aayog.

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4. Exam Pattern & Marking Scheme

Paper No.	Subject Name	Type	Max Marks	Duration	Negative Marking
Paper 1	Accounting	Descriptive	100 Marks	3 Hours	No Negative Marking
Paper 2	Business Laws	Descriptive	100 Marks	3 Hours	No Negative Marking
Paper 3	Quantitative Aptitude	Objective (OMR)	100 Marks	2 Hours	-0.25 for wrong answer
Paper 4	Business Economics	Objective (OMR)	100 Marks	2 Hours	-0.25 for wrong answer

Calculator Policy: Candidates are permitted to use standard non-scientific, non-programmable battery-operated calculators (up to 6 functions, 12 digits, with square root and memory keys M+, M-, MRC) in all 4 papers.

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5. Step-by-Step Registration & Application Process

1. Visit ICAI Self Service Portal (SSP): Go to eservices.icai.org and click on "First Time User / New Student Registration".
2. Fill Personal & Academic Details: Enter Name, DOB, Aadhaar, Mobile Number, Email ID, 10th and 12th marks.
3. Upload Documents:
   • Scanned passport photograph (200 DPI, under 100 KB).
   • Scanned signature (under 50 KB).
   • Attested copy of 10th marksheet / 12th admit card or marksheet.
4. Pay Registration Fee: Pay ₹9,000 INR online via Net Banking, Debit/Credit Card, or UPI.
5. Order Study Material on CDS Portal: After registration confirmation (takes 2–4 days), you will receive a coupon code via SMS/email to order physical study kits free of cost from the Centralized Distribution System portal (icai-cds.org).
6. Fill Examination Form: Approximately 2 months before the exam cycle (e.g., in March/April for June exam), log in to the SSP portal, select your preferred exam city and medium (English/Hindi), and pay the ₹1,500 examination fee.
7. Download Admit Card: ICAI releases digital admit cards on the SSP portal 14 days prior to the first day of examination.

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6. Best Recommended Study Resources & Preparation Strategy

ICAI Official Material (The Mandatory Bible)

• ICAI Study Modules: Read every single line of the official BoS study modules. 80%+ of paper questions originate directly from module concepts and illustrations.
• Revision Test Papers (RTP): Released 1 month before each exam attempt; contains updated question trends.
• Mock Test Papers (MTP Series 1 & 2): ICAI conducts physical and virtual mock exams before every attempt. Solving these under 3-hour/2-hour timed conditions is essential.
• Suggested Answers of Past 5 Attempts: Review official ICAI suggested answer keys to master the exact step-by-step marking rubrics.

Proven 4-Month Study Schedule

• Month 1 (Concept Foundation — 4 to 6 Hours Daily):
  • Morning: Accounting (Journal entries, Ledger, BRS, Depreciation, Inventories).
  • Afternoon: Quantitative Aptitude (Time Value of Money, LR, Measures of Central Tendency).
  • Evening: Business Economics (Demand & Supply, Cost curves).
• Month 2 (Advanced Topics & Law Writing Practice — 6 to 8 Hours Daily):
  • Accounting: Final Accounts, Partnership Accounts, Company Accounts.
  • Business Laws: Daily case study writing practice for Indian Contract Act and Companies Act. Use the standard 4-paragraph format: Applicable Legal Provision ➔ Facts of the Case ➔ Analysis / Correlation ➔ Conclusion.
  • Quantitative Aptitude: Probability, Permutations & Combinations, Theoretical Distributions.
• Month 3 (Full Syllabus Completion & RTPs — 8 to 10 Hours Daily):
  • Finish all remaining chapters across all 4 subjects.
  • Solve 100% of end-of-chapter MCQs in Paper 3 and Paper 4.
  • Solve the latest ICAI Revision Test Paper (RTP).
• Month 4 (Intense Mock Testing & Speed Drilling — 10+ Hours Daily):
  • Attempt 2 full-length Mock Test Papers for each subject strictly from 2:00 PM to 5:00 PM (synchronizing your biological clock with real exam timings).
  • Revise Time Value of Money formulas, Accounting standard formats, and Legal sections.

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7. Career Progression Pathway: From Foundation to Chartered Accountant

Stage Level	Qualifying Milestone	Requirements & Progression
Stage 1 (Entry Level)	ICAI CA Foundation	4 Papers (400 Marks) ➔ Must secure 40% per paper & 50% aggregate.
Stage 2 (Intermediate)	ICAI CA Intermediate	6 Papers across Group 1 & Group 2 (600 Marks).
Stage 3 (Training & IT Skills)	ICITSS + 2 Years Articleship	Complete 4 weeks ICITSS training ➔ Register for 24 months continuous practical training.
Stage 4 (Self-Paced Learning)	SPOM Modules (Sets A, B, C, D)	Online self-paced learning & qualifying tests before appearing in CA Final.
Stage 5 (Final Examination)	ICAI CA Final	6 Advanced Papers in 2 Groups ➔ Passing awards ACA Membership from ICAI.

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8. Average Salary & Career Opportunities After Becoming a CA

Career Stage	India (INR)	International / Middle East	Top Recruiting Employers
CA Fresher (Campus Placement Average)	₹10.5 LPA – ₹16.0 LPA	AED 180,000 – AED 260,000	Big 4 (PwC, EY, Deloitte, KPMG), BDO, Grant Thornton
CA with 3–5 Years Experience	₹18.0 LPA – ₹28.0 LPA	AED 300,000 – AED 450,000	Tata Sons, Reliance Industries, HDFC Bank, ICICI Bank
Senior CA / Partner / CFO (8+ Years)	₹35.0 LPA – ₹1.0+ Crore	$150,000 – $300,000+	Multinational Corporations, Investment Banks, Global CFOs

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Source: The Institute of Chartered Accountants of India (ICAI) | Official Portal: icai.org