CA Foundation Accounts, also known as Principles and Practice of Accounting, is paper 1 of the CA Foundation course. The CA Foundation accounts syllabus comprises basic accounting principles and their treatment in books.
For the CA Foundation Accounts paper, students will study 10 chapters, each worth 100 marks. As the CA Foundation exams are near, students should complete the syllabus quickly and start solving the mock test papers.
In this detailed article on CA Foundation Accounts, you’ll get the syllabus, study material, paper pattern, chapter-wise weightage, preparation tips, and mock test papers.
Read all the details about the VSI CA Foundation Coaching for the September 2024 and January 2025 exams.
CA Foundation Accounts Overview
Accounts is the first paper of the CA Foundation and comprises basic principles and practices of Accounting. Moreover, Accounting is an integral part of the complete CA Course. The theoretical part of the Principles and Practice of Accounting syllabus will help you gain knowledge of debit, credit, debtors and creditors or basic accounting entities and their fundamental principles.
After having a basic understanding it becomes easy for students to understand their treatment in accounts books. They will also gain the skill to analyse accounting statements through different ratios and help in solving business complexities.
As per the CA Foundation Exam Date for June and September 2024, the Accounts papers will be conducted on June 20, 2024.
CA Foundation Accounts Study Material for 2024 Exams
Module 1:
- Initial Pages
- Chapter 1: Theoretical Framework
- Unit 1: Meaning and Scope of Accounting
- Unit 2: Accounting Concepts, Principles And Conventions
- Unit 3: Accounting Terminology – Glossary
- Unit 4: Capital And Revenue Expenditures and Receipts
- Unit 5: Contingent Assets and Contingent Liabilities
- Unit 6: Accounting Policies
- Unit 7: Accounting as a Measurement Discipline – Valuation Principles, Accounting Estimates
- Unit 1: Meaning and Scope of Accounting
- Chapter 2: Accounting Process
- Chapter 3: Bank Reconciliation Statement
- Chapter 4: Inventories
- Chapter 5: Depreciation and Amortisation
- Chapter 6: Accounting for Special Transactions
- Chapter 7: Preparation of Final Accounts of Sole Proprietors
- Unit 1: Final Accounts of Non-Manufacturing Entities
- Unit 2: Final Accounts of Manufacturing Entities
Module 2:
- Chapter 8: Financial Statements of Not-for-Profit Organisations
- Chapter 9: Accounts from Incomplete Records
- Chapter 10: Partnership and LLP Accounts
- Chapter 11: Company Accounts
To check and download the PDF of the complete CA Foundation study material in English and Hindi, you can click on the given link. Other than that you can also check out the best CA Foundation Books for June 2024 preparation.
Additionally, Check how you can join CA Foundation Online Classes for all subjects. Also, Check the detailed guide on how to become CA after 12th science.
Average Due Date CA Foundation
An Average Due Date is an important unit of CA Foundation Accounts Chapter 6. It is a date calculated to be fair to the debtor and creditor for the settlement of various dated items.
The average due date is the due date of each business transaction assessed by adding the credit period of one month. Students can use any date as the base date.
CA Foundation Accounts Syllabus June 2024
ICAI has revised the syllabus of the CA Foundation course of all the papers under the new scheme. Students can download the CA Foundation 2024 syllabus for the Accounts paper from the link below.
Paper 1: Accounting syllabus Download CA Foundation Accounts Paper Pattern 2024
Students need to be aware of the latest paper pattern to excel in the ICAI Foundation Accounts paper. Therefore, the following table mentions the CA Foundation Accounts paper pattern for the June 2024 exams.
Particular Details Total Question 6 (students need to answer only 5) Exam Duration 3 hours Maximum Marks 100 marks CA Foundation Accounts Exam Date June 20, 22, 24 and 26, 2024 Assassinate Pattern According to comprehensive knowledge, analytical skill, and reporting efficiency. Type of Questions Both practical and theoretical. To check the complete CA Foundation Exam Pattern, students can visit the given link.
CA Foundation Accounts Chapter-Wise Weightage for June 2024
You can see the breakdown of chapters and modules according to the marks weightage given In exams and plan your study accordingly
Weightage Chapter 5%-10% Chapter 1: Theoretical Framework
Unit 1: Meaning and Scope of Accounting
Unit 2: Accounting Concepts, Principles And Conventions
Unit 3: Accounting Terminology – Glossary
Unit 4: Capital And Revenue Expenditures and Receipts
Unit 5: Contingent Assets and Contingent Liabilities
Unit 6: Accounting Policies
Unit 7: Accounting as a Measurement Discipline – Valuation Principles, Accounting Estimates
Unit 8: Accounting Standards
Unit 9: Indian Accounting Standards20%-25% Chapter 2: Accounting Process
Unit 1: Basic Accounting Procedures – Journal Entries
Unit 2: Ledgers
Unit 3: Trial Balance
Unit 4: Subsidiary Books
Unit 5: Cash Book
Unit 6: Rectification of Errors
Chapter 3: Bank Reconciliation Statement
Chapter 4: Inventories
Chapter 5: Concept and Accounting of Depreciation15%-20% Chapter 6: Accounting for Special Transactions
Unit 1: Bill Of Exchange and Promissory Notes
Unit 2: Sale of Goods on Approval or Return Basis
Unit 3: Consignment
Unit 4: Joint Ventures
Unit 5: Royalty Accounts
Unit 6: Average Due Date
Unit 7: Account Current25%-30% Chapter 7: Preparation of Final Accounts of Sole Proprietors
Unit 1: Final Accounts of Non-Manufacturing Entities
Unit 2: Final Accounts of Manufacturing Entities
Chapter 8: Partnership Accounts
Unit 1: Introduction to Partnership Accounts
Unit 2: Treatment of Goodwill in Partnership Accounts
Unit 3: Admission of a New Partner
Unit 4: Retirement of a Partner
Unit 5: Death of a Partner
Chapter 9: Financial Statements of Not-for-Profit Organizations10%-15% Chapter 10: Company Accounts
Unit 1: Introduction to Company Accounts
Unit 2: Issue, Forfeiture and Re-Issue of Shares
Unit 3: Issue of Debentures
Chapter 11: Basic Accounting RatiosHow was the CA Foundation Accounts Paper of Dec 2024? (Review)
The CA Foundation accounts paper of Dec 2022 is easy to moderate; however, scoring. Students who have followed the ICAI syllabus and study material find the paper easy to solve. The paper is more inclined to the practical part and includes fewer theoretical questions. Again, emphasis is placed on following the ICAI study material and syllabus.
Read our article how to prepare for CA foundation in 4 months
CA Foundation Accounts Papers for June 2024 Preparation
CA Foundation Accounts Question Papers with Suggested Answers
Students can download the CA Foundation question papers with suggested answers to Paper 1.
Year Question Papers Suggested Answer Dec 2022 Download Download May 2022 Download Download December 2021 Download Download July 2021 Download Download January 2021 Download Download November 2020 Download Download November 2019 Download Download CA Foundation Previous Year Papers with Link PDF
CA Foundation Previous Year Mock Test Papers Attempt Link Paper 1: Principles and Practice of Accounting Dec 2023 Download June 2023 Download Dec 2022 Download May 2022 Download Dec 2021 Download July 2021 Download Jan 2021 Download Nov 2020 Download Nov 2019 Download May 2019 Download Nov 2018 Download May 2018 Download CA Foundation Accounts Mock Test Papers for Dec 2022
Series – I
Series-II
- Questions
- Answers
CA Foundation Paper 1 RTP
Students can download the RTP of Principles and Practice of Accounting from here.
CA Foundation Accounting Self-Study Plan 2024
- Write down the formulas and theories on a chart and can keep it handy by sticking it in your room for quick reference,
- Make notes and illustrate every principle and theory in your own words
- Make charts of all the accounting standards and try to memorize them in an interesting format.
- While preparing accounting statements, identify the nature of the product and thoroughly analyze it before its treatment.
- After completing the syllabus, download the CA Foundation question papers and solutions and start practising. After you solve the paper, check your answer sheet with the ICAI solutions and analyse your performance.
That is all about the CA Foundation Accounts paper for the June 2024 exam. Now, you have better insights into the syllabus, study material, paper pattern, and also chapter-wise weightage. Moreover, you also have past year’s question papers, MTPs, RTPs, and a study plan to score more in CA Foundation accounts.
We wish you all the best for the future.
- Unit 1: Final Accounts of Non-Manufacturing Entities