On July 1, 2023, the Institute of Chartered Accountants of India (ICAI) issued the CA Foundation New Syllabus 2024 as a part of the new educational and training system. Applicants who intend to take the test need to consider the updated CA Foundation 2024 syllabus, which includes additional content. The CA Foundation syllabus for the new program is available at icai.org, the official ICAI website. December 2023 will mark the last CA Foundation test to be administered under the current program utilizing the antiquated CA Foundation curriculum, whereas June 2024 would mark the first exam administered under the new ICAI program.
Prospective candidates have to familiarize themselves with the updated syllabus for the CA Foundation exam and design a study plan accordingly. Discover more about the CA Foundation’s new curriculum, which covers all the subjects and significant themes and is being implemented under the ICAI’s new structure, by reading the entire article.
CA Foundation New Syllabus Papers 2024
In the new syllabus of CA Foundation, under the new ICAI scheme, the following papers have been included :
|Type of Questions
Part A: Business Mathematics
Part B: Logical Reasoning
Part C: Statistics
Part A: 40 Marks
Part B: 20 Marks
Part C: 40 Marks
CA Foundation Syllabus Under New Scheme 2024
The table below provides the exact ICAI CA Foundation curriculum for all of the previously stated papers using the most recent format. The details also include the key ideas for each discipline of the CA Foundation.
|Objective: To get a basic understanding of accounting’s concepts and principles and put that knowledge to use when creating financial statements and solving straightforward problems.
|Bank Reconciliation Statement
|Introduction, reasons and preparation of bank reconciliation statement
|Meaning, basis and technique of inventory valuation, cost of inventory, net realisable value and record system
|Depreciation and Amortisation
|Meaning and distinctions between tangible and intangible assets, as well as concepts, computation methods, and accounting treatment of amortisation and depreciation, as well as changes to the depreciation method
|Bills of Exchange and Promissory Notes
|Meaning of bills of exchange and promissory notes and their accounting treatment; accommodation bills.
|Preparation of Final accounts of Sole Proprietors
|Elements of financial statements, closing adjustment entries, trading account,profit and loss account and balance sheet of manufacturing and non- manufacturing entities
|Financial Statements of Not-for-Profit Organizations
|Difference between the profit and loss account and the income and expenditure account, as well as the significance and production of the receipt and payment account, income and expenditure account, and balance sheet
|Accounts from Incomplete Records (excluding preparation of accounts based on ratios).
|Partnership And LLP Accounts
Paper 2: Business Laws
|Objective: to obtain general legal knowledge of the law of contracts, sales, and a comprehension of different company structures and how they operate in order to control the business environment, as well as the capacity to address simple application-oriented problems.
|Indian Regulatory Framework
|Major Regulatory Bodies such as the Ministry of Finance, Ministry of Corporate Affairs, SEBI, RBI, IBBI, Ministry of Law and Justice, etc.
|The Indian Contract Act, 1872
|General Terms of the Contract, the Consideration, and Additional Requirements for a Binding AgreementContract of Indemnity and Guarantee, Performance Contract, Breach of Contract, Conditional and Quasi-Contract, Contract of Agency, Contract of Bailment and Pledge
|The Sale of Goods Act, 1930
|Formation of the contract of sale, Conditions and Warranties,Transfer of ownership and Delivery of goods,Unpaid seller and his rights.
|The Indian Partnership Act, 1932
|General Nature of Partnership, Rights and Duties of partners, Reconstitution of firms, Registration and Dissolution of a firm
|The Limited Liability Partnership Act, 2008
|Introduction-covering nature and scope, Essential features, Characteristics of LLP, Incorporation and Differences with other forms of organisations
|The Companies Act, 2013
|Essential features of company, Corporate veil theory, Classes of companies,Types of share capital, Incorporation of company, Memorandum of Association, Articles of Association, Doctrine of Indoor Management
|The Negotiable Instruments Act, 1881
|Meaning of Negotiable Instruments, Characteristics, Classification of Instruments, Different provisions relating to Negotiation, Presentment of Instruments, Rules of Compensation
Paper 3: Quantitative Aptitude
|Part A: Business Mathematics
|Ratio and proportion, Indices and Logarithms
|Ratio and proportion and Time and work-related problems, Laws of Indices, Exponents and Logarithms and AntiLogarithms
|Linear Equations Upto Three Variables, Quadratic and Cubic equations in one variable. Applications in Business Related Problems.
|Linear Inequalities in one and two variables and the solution space
|Mathematics of Finance
|Permutations and Combinations
|Basic concepts of Permutations and combinations: Introduction, the factorial, permutations, results, circular permutations, permutations with restrictions, Combinations With standard results
|Sequence and Series
|Introduction Sequences, Series, Arithmetic and Geometric progression,RelationshipbetweenAMandGMandSumofntermsofspecialseriesand BusinessApplications
|Sets, Relations, and Functions. Basics of Limits and Continuity Functions
|Basic applications of Differential and Integral calculus in Business and Economics (Excluding the trigonometric applications)
|Part B: Logical Reasoning
|Number series coding and Decoding and odd man out, Direction Tests, Seating Arrangements, Blood Relations
|Part C: Statistics
|Statistical Representation of Data
|Diagrammatic representation of data, Frequency Distribution, Graphical representation of Frequency Distribution–Histogram, Frequency Polygon, Ogive, Pie-chart
|Basic principles of sampling theory, comparison between sample survey and complete enumeration, some important terms associated sampling type of sampling,sampling and non-sampling errors.
|Measures of Central tendency and Dispersion
|Mean Median, Mode, Mean Deviation, Quartiles and Quartile Deviation, Standard Deviation, Coefficient of Variation, Coefficient of Quartile Deviation
|Independent and dependent events;mutually exclusive events.Total and Compound Probability and Bayes Theorem
|Random variables, Discrete and Continuous Random variables, Expectation of a discrete random variable, Theoretical Distributions:Binomial Distribution, Poisson distribution–basic application and Normal Distribution–basic applications
|Correlation and Regression
|Scatter diagram, Karl Pearson’s Coefficient of Correlation Rank Correlation, Regression lines, Regression equations,Regression coefficients
|Uses of Index Numbers, Problems involved in construction Index Numbers,Methods of construction of Index Numbers.BSE SENSEX NSE
Paper 4: Business Economics
|Objective: To develop an understanding of the concepts and theories of Economics and to acquire the ability for addressing application-oriented issues
|Introduction to Business Economics
|Meaning and scope of Business Economics.
Basic Problems of an Economy and Role of Price Mechanism
|Theory of Demand and Supply
|Theory of Production and Cost
|Price Determination in Different Markets
|Determination of National Income
|Meaning, Phases, Features, Causes behind these Cycles
Requirements for Clearing CA Foundation Examination 2024
If a candidate receives at least 40% on each paper and at least 50% on the sum of all the papers taken in one sitting, they are considered to have passed the Foundation exam.
Being objective, Negative grades will be assigned to Papers 1 and 2, and further communication will be given. 3 and 4 are the papers of the subjective type.
Tips for Getting Ready for the Upcoming CA Foundation Syllabus 2024
To help you prepare for the CA Foundation exam, consider the following advice:
Recognize the syllabus: possess a thorough comprehension of the CA Foundation course. The number of papers remains the same, but further investigation is necessary to find out if the curriculum’s listed topics have changed or been added to.
Commence Early: With the release of the syllabus for the CA foundation exam, candidates ought to get started on their studies right once. If you start early, you’ll have plenty of time to review and practice afterwards.
Examine the Appropriate Books and Study Guides: The ICAI website offers study guides for the CA foundation. As applicants prepare for the CA, they can refer to it. Reading credible literature is another effective way for candidates to get ready for the CA Foundation exam.
Mock Test: Use realistic-looking practice exams to boost performance on test day. On the ICAI website, candidates can also try to pass practice exams for the CA Foundation.
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On July 1, 2023, ICAI issued the revised syllabus
The first CA Foundation test will be administered in June 2024 in accordance with the updated ICAI education and training plan.
The updated syllabus for the CA Foundation course includes 4 papers.
Each paper in the CA foundation exam has 100 points.