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Foundation Under ICAN

The first level in CA Course is Foundation which lays the basic level knowledge for further studies. Foundation is designed to cover the basics of Accounting and other commercial knowledge like Management Accounting, Assurance, MIS, Taxation, Law, Business and Finance etc.

Foundation Admission Eligibility

To be eligible for registration in Foundation, 

  1. Students must have appeared Grade XII exams (If Grade XII results are pending then also candidates are eligible for registration under ICAN. And if Grade XII results are published, then well and good).
  2. If the results are pending of Grade XII, students must be sure that their score will be atleast 2 GPA/40% marks/C because if the Grades are less, the registration will be cancelled by ICAN. So Exam appeared and result awaiting students of Grade XII are advised to either wait for results and enroll in the next session or be sure that they will be getting atleast 2 GPA/40%/C to enroll without waiting for the results.
  3. Students from any stream (Science (physical group/Bio Group), Management, Law, Humanities, A Levels) are eligibile for Foundation. The level should match that of Grade XII with whatever subjects it has.
  4. There are no any entrance exams for Foundation. Student can enroll in ICAN and start preparing for the exams.

FAQ

Do science students need base of Accounts in Foundation?

No. The Foundation syllabus itself is designed to make the base in accounting so any prior knowledge of accounting is not necessary. At Gurukul, everything is taught from the very basics (zero level) so any special classes are not required for science students.

What are the necessary documents for Foundation registration in ICAN?

  1. SEE Marksheet
  2. SEE Character Certificate
  3. Plus Two Transcript (For those who are waiting for grade XII result, they can submit Grade XI mark sheet)
  4. Plus Two Character (For those who are waiting for grade XII result, they can submit Grade XII admit card)
  5. Passport size photographs
  6. Signature in plain paper
  7. Citizenship Certificate (If not yet obtained, upload a written application requesting to allow the submission of citizenship after sometime but before filing  exam form)

Note: Any pending documents like Grade XII marksheet, Character Certificate or Citizenship Certificate shall be submitted before filling the CAP I Exam Form.

What are the necessary documents for admission in Gurukul CA?

The documents required for admission in Gurukul CA are

  1. Plus Two Transcript (For those who are waiting for grade XII result, they can submit Grade XI mark sheet)
  2. Passport size photographs
  3. If college topper scholarships are claimed, a letter from college.

 

Is online registration possible?

Yes, in-fact only online registration is allowed in ICAN for  registration.

However, for Gurukul Admission, both online and offline admissions are taken.

Click here for a detailed procedure of online registration in ICAN 

Foundation Registration Deadline

Registration deadlines are based on the exam dates that students choose for. Foundation exams are held twice a year in June and December and the last date of registration would be November 30 for June Exams and May 31 for December Exams. So if a student plans to appear in Foundation exams in December 20X2 then the last date of registration would be May 31, 20X2 and similarly if the students want to appear for Foundation exams in June 20X3 then the last date for registration would be November 30, 20X2.

Summarizing

  1. For June Exams, the last date is November 30 (Generally around Mangshir 15)
  2. For December Exams, the last date is May 31 (Generally around Jestha 15).
    However, ICAN may give some time extentions for registration for which students need to contact ICAN or visit the official website of ICAN.

Special Point
For students who have just appeared for Grade XII exams and are willing to join Foundation, they need to hurry up because generally Grade XII exams go until the first week of Jeshta and as stated May 31 (Around Jestha 15) is the last date to apply for  registration. The time is very less and can be easily missed out. Out of valley students are recommended to contact us right after the exams are over. Students inside valley are recommended to visit our premises and get counseling.

Course Structure of Foundation

Paper 1 - AccountingOne Paper - Three Hours - 100 Marks

Paper 1: Accounting is a basic level course which enables the candidates to understand the fundamentals of financial accounting system and management accounting system and apply theory to basic financial and management accounting issues and process. 

Exams of Paper 1 is of 100 marks where

  • 40 marks is assigned to subjective questions and
  • 60 marks is assigned to Multiple Choice Questions.

The subject matter contains:

  1. Financial Accounting (50 Marks)
  2. Management Accounting (50 Marks)

Paper 2 - Assurance and Information SystemTwo Papers - Three Hours - 100 Marks

Paper 2 contains of two parts:
2A: Assurance (50 Marks)
2B: Information System (50 Marks)

Each part carries

  • 20 marks for subjective questions and
  • 30 marks for objective or Multiple Choice Questions.

The exams of Paper 2 are held in one single day and in a single sitting of 3 Hours. However, each part’s question paper and answer sheets are separate and a time of 1 hour and 30 minutes is given for both the parts.

Paper 3 - Business and FinanceOne Paper - Three Hours - 100 marks

Paper 3: Business and Finance

Exams of Paper 3 is of 100 marks where

  • 40 marks is assigned to subjective questions and
  • 60 marks is assigned to Multiple Choice Questions.

The subject matter contains:

  1. Business
  2. Finance
  3. Economics
  4. IT

Paper 4: Law and TaxTwo Papers - Three Hours - 100 Marks

Paper 4 contains of two parts:
4A: Law (50 Marks)
4B: Tax (50 Marks)

Each part carries

  • 20 marks for subjective questions and
  • 30 marks for objective or Multiple Choice Questions.

The exams of Paper 4 are held in one single day and in a single sitting of 3 Hours. However, each part’s question paper and answer sheets are separate and a time of 1 hour and 30 minutes is given for both the parts.

Foundation Exams and Passing Criteria

Eligibility to write Foundation Exams
To be eligible for Foundation Exams, student must

  1. Complete the Pre-Test Exams by securing at least  40% marks in each  subject atleast 3 weeks before the opening of exam form.
  2. Obtain eligibility certificate (after completing pre-test exams)
  3. Complete 6 months after registration for Foundation.
  4. Fill-up the exam forms and pay all the dues

Pre-Test Exams (By ICAN)
This test is taken online which student have to pass by getting 40% marks in each subjects. There is no restriction of getting 50% in aggregate in Pre-test exams as it is in Final exams. The pre-test are held online so students must have a good internet connection and a computer to appear for this exam.

Foundation Exams (By ICAN)

Exams are held in December and June generally. One day gap is provided during the exams. The candidates are required fill up exam forms which are published in the website of ICAN and view the routines as well as centre list in the notice published by ICAN.

Passing Criteria of Foundation
A candidate is declared as pass in Foundation exams if

  1. Marks obtained in each subject is 40% or more.
  2. Aggregate 50% is achieved (i.e. total marks of all 4 papers should be 200 or more)
  3. All the papers are given in one sitting (i.e. student are not declared pass until all three papers are passed in single sitting)

 

Notes

  1. There are no subject wise exemption in Foundation (like in Application and Advisory)
  2. There are no Groups in Foundation (like in Application and Advisory)
  3. Students are not allowed to use scientific calculators in exams. 
  4. If 75% or more is achieved in Foundation, then it is declared as Distinction
  5. Also All Nepal Ranks for Top 10 scorers of Foundation is published by ICAN along with the results.
CAP I Student

Fee Structure of Foundation

ICAN Registration Fee: Rs 30, 100
ICAN Exam Fee: Rs 4,200
Gurukul CA Tuition Fee: Rs 100,000
Total Fees: Rs 1,34,300

ICAN registration fee can be paid at once or as following
On Registration: Rs 17,600
Within 3 months: Rs 12,500

Gurukul Tuition Fees can be paid in two installments
On Admission: Rs 25,000
Within next 2 months: Balance Fee 

Foundation Scholarships Details

1. Scholarship on Merit Basis

Under this scheme, Gurukul tuition will be reduced on the basis of GPA of class 11 or 12 (whichever student chooses). The GPA and discount are as follows:

GPA

Scholarships

3.3 and above

5%

3.4 and above

10%

3.5 and above

15%

3.6 and above

20%

3.7 and above

25%

3.8 and above

30%

3.9 and above

40%

2. Scholarship to the college topper of 11 or 12

  • NEB Topper (Grade XII) – Scholarship of 15% of Tuition Fees
  • 1st Position in College – Scholarship of 10% of Tuition Fees
  • 2nd Position in College – Scholarship of 7% of Tuition Fees
  • 3rd Position in College – Scholarship of 5% of Tuition Fees
    (In addition to Scholarship 1)

The above stated positions should have been achieved by student in any of the internal exams taken by the college in Grade XII or the board exams of Grade XII. To claim this scholarship, student shall submit a Certificate given by the college indicating the position achieved by the student.

3. Cash prize on the basis of aggregate weekly tests

Rank

Scholarships

First

20,000

Second

15,000

Third

10,000

Fourth

9,000

Fifth

8,000

Sixth

7,000

Seventh

6,000

Eighth

5,000

Ninth

4,000

Tenth

3,000

4. Tuition fee refund on the basis of Scholarship exams taken by Gurukul CA

Cash Prize

Rank

Scholarships

First

100%

Second

80%

Third

60%

Fourth

40%

Fifth

35%

Sixth

30%

Seventh

25%

Eighth

20%

Ninth

15%

Tenth

10%

CALCULATE MY SCHOLARSHIP NOW

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