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.
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
- 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 8: Accounting Standards
- Unit 9: Indian Accounting Standards
- Unit 1: Meaning and Scope of Accounting
- Chapter 2: Accounting Process
- Chapter 3: Bank Reconciliation Statement
- Chapter 4: Inventories
- Chapter 5: Concept and Accounting of Depreciation
- Chapter 6: Accounting for Special Transactions
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 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|
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.
|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
|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|
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.
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