CA Foundation Accounts 2023: Syllabus, Pattern & Papers

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 are going to study 10 chapters comprising 100 marks. As the CA Foundation exams are near, students should complete the syllabus fast 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.

VSI CA foundation Dec 2023 and May 2024 Exam
VSI CA foundation Dec 2023 and May 2024 Exam

Read all the details about the VSI CA Foundation Coaching for the May 2023 exams.

CA Foundation Accounts – Overview

Accounts is the first paper of the CA Foundation and comprise 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 have knowledge of what is debit, credit, debtors and creditors or basic accounting entities and their fundamental principle.

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 dates for June 2023, the Accounts papers will conduct on June 24, 2023.

CA Foundation Accounts Study Material for 2023 Exams

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 May 2023 preparation.

Check how you can join CA Foundation Online Classes for all subjects.

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. The average due date is a date calculated with fairness to the debtor and creditor for the settlement of various dated items.

The average due date is the due date of each business transaction that is assessed by adding the credit period of 1 month. While assessing the average due date, students can take any date as the base date.

CA Foundation Accounts Syllabus May 2023

ICAI has revised the syllabus of the CA Foundation course of all the papers under the new scheme. Students can download the CA Foundation 2023 syllabus for the Accounts paper from the given link below.

Paper 1: Principles and Practice of Accounting syllabus Download

    Get all the details about the CA Foundation Course

    CA Foundation Accounts Paper Pattern 2023

    To excel in the ICAI Foundation Accounts paper, students need to be aware of the latest paper pattern. Therefore, in the following table, we have mentioned the CA Foundation Accounts paper pattern for May 2023 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 May 14, 2023
    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 May 2023

    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 Standards
    20%-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 Depreciation
    15%-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 Current
    25%-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 Organizations
    10%-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 Ratios

    How was the CA Foundation Accounts Paper of Dec 2022? (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. It is again emphasised to follow the ICAI study material and syllabus.

    Read our article how to prepare for CA foundation in 4 months

    CA Foundation Accounts Papers for May 2023 Preparation

    CA Foundation Accounts Question Papers with Suggested Answers

    Students can download the CA Foundation question papers with suggested answers of 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 Accounts Mock Test Papers for Dec 2022

    Students can download the suggested Mock Test Paper of Principles and Practice of Accounting from here.


    CA Foundation Paper 1 RTP

    Students can download the RTP of Principles and Practice of Accounting from here.

    CA Foundation Accounting Self-Study Plan 2023

    • 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 May 2023 exam. Now, you have better insights into the syllabus, study material, paper pattern, and also chapter-wise weightage. Moreover, you also have past year question papers, MTPs, RTPs and a study plan to score more in CA Foundation accounts.

    We wish you all the best for the future.