CA Foundation Accounts, commonly known as Principles and Practice of Accounting, is the Paper 1 in the CA Foundation course. The CA Foundation accounts syllabus covers basic accounting principles and their application in books.
Students will study 10 chapters for the CA Foundation Accounts paper, which is worth 100 Marks As the CA Foundation exams approach, students should finish the material quickly and begin tackling the sample test papers.
This comprehensive post on CA Foundation Accounts includes the curriculum, study materials, paper pattern, chapter-specific weightage, preparation advice, and mock test papers.
CA Foundation Accounts
The foundational concepts and procedures of accounting are covered in the first CA Foundation paper, Accounts. Additionally, Accounting is a crucial component of the entire CA Course. The theoretical portion of the Principles and Practice of Accounting course will assist you in learning about basic accounting entities such as debit and credit as well as their underlying principles.
Students find it easier to understand how they are treated in accounts books once they have a basic comprehension. Additionally, they will learn how to use various ratios to analyze accounting statements and assist in resolving complicated company issues.
The dates of the June 2024 CA Foundation exam indicate that the accounts papers will be held on June 24, 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
- 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
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
Average Due Date CA Foundation
Chapter 6 of the CA Foundation Accounts has a crucial topic on Average Due Dates. In order to settle different dated items fairly for both the debtor and the creditor, the average due date is determined.
The due date of each business transaction is added to the credit period by one month to get the average due date. Students are free to use any date as the base date for calculating the average due date.
CA Foundation Accounts Paper Pattern 2024
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 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 | In June 2024 |
| Assassinate Pattern | According to comprehensive knowledge, analytical skill, and reporting efficiency. |
| Type of Questions | Both practical and theoretical. |
| Particular | Details |
| Total Question | 6 (students need to answer only 5) |
| Exam Duration | 3 hours |
| Maximum Marks | 100 marks |
| CA Foundation Accounts Exam Date | In June 2024 |
| Assassinate Pattern | According to comprehensive knowledge, analytical skill, and reporting efficiency. |
| Type of Questions | Both practical and theoretical. |
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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 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 |
CA Foundation Accounting Self-Study Plan 2024
- Put the ideas and formulas on a chart and tape it to the wall of your room so you may easily refer to it when needed.
- Take notes and provide your own explanations for each concept and theory.
- Create charts with all of the accounting rules, and make an effort to learn them by heart in a fun way.
- Determine the nature of the product and do a comprehensive analysis of it before treating it while creating accounting statements.
- Once you’ve finished the course, get the CA Foundation practice questions and answers and go to work. Check your answer sheet with the ICAI solutions after you’ve finished the paper to evaluate 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.
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