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CA Foundation Accounts Paper 2024: Syllabus, Pattern & Study Material

CA Foundation Accounts Paper 2024

Introduction

If you are preparing for the CA Foundation exam 2024 Then this blog is for you. In this write-up, we will cover the CA Foundation New Syllabus, the CA Foundation exam pattern 2024, and study material for the CA Foundation Accounts paper 2024. Stay with us at the end you will get all the information in one sitting. Let’s delve into the steps one by one.  

New Syllabus for The CA Foundation Exam 2024

The CA foundation exam 2024 new curriculum was released on 1st July 2023 by the Institute of Chartered Accountants of India. In this article, students will get detailed information about organizations and gain a comprehensive knowledge of the CA Foundation Accounts paper, making it an essential resource.

You might be aware that ICAI conducts the CA Foundation Exam, which serves as an entry-level examination for students in India intending to enroll in the highly competitive Chartered Accountancy course. This exam marks the initial step in the process.

Topics that are included in the New CA Foundation Syllabus

  • Principles and Practice of Accounting
  • Business Laws
  • Quantitative Aptitude
  • Business Economics

Also Read- CA Course Duration After 10th, 12th & Graduation- Complete Guide

 CA Foundation Accounting Syllabus 2024

The curriculum for the CA Foundation is meticulously created and condensed into four separate topics. However, in this blog, we will discuss the CA Foundation Accounts paper 2024 syllabus in detail. Let’s delve into the table below which explains the CA Foundation New Syllabus 2024 to give readers an improved comprehension of its structure and content. To provide students with a prominent study plan, this table outlines essential points for every subject.

First Paper- Accounting Principles and Practice

The first paper of the CA Foundation 2024 delves into fundamental accounting principles in detail, equipping candidates with the necessary tools to prepare financial statements and effectively address basic accounting issues.

Chapter wise weightage Module 1 (Chapters)

Theoretical Framework

Module 2 (Chapters) 
5%  to 10 %  Unit 1: Meaning and Scope of Accounting Chapter 8. Financial Statements of Not-for-Profit Organisations
Unit 2: Accounting Concepts, Principles and Conventions Chapter 9. Accounts from Incomplete Records
Unit 3: Capital and Revenue Expenditures and Receipts Chapter 10 Partnership and LLP 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 & Unit 6: Dissolution of Partnership Firms and LLPs

Unit 4: Contingent Assets and Contingent Liabilities Chapter 11 Company Accounts

Unit 1: Introduction to Company Accounts, Unit 2: Issue, Forfeiture and Re-Issue of Shares, Unit 3: Issue of Debentures, Unit 4: Accounting for Bonus Issue and Right Issue, Unit 5: Redemption of Preference Shares & Unit 6: Redemption of Debentures

Unit 5: Accounting Policies
Unit 6: Accounting as a Measurement Discipline – Valuation Principles, Accounting Estimates
Unit 7: Accounting Standards
Chapters 2 to 5

20%  to 25%

Lesson 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 6-

15%  to 20%

Lesson- 3-  Bank Reconciliation Statement
Chapters 7 to 9

25% to 30%

Chapter 4- Inventories
Chapters 10 to 11

10% to 15%

Chapter 5 Depreciation and Amortisation
Chapter 6. Bills of Exchange and Promissory Notes
Chapter . 7. Preparation of Final Accounts of Sole Proprietors

Unit 1: Final Accounts of Non-Manufacturing Entities and Unit 2: Final Accounts of Manufacturing Entities

 

CA Foundation Accounts Paper Pattern 2024

To excel in the CA Foundation Accounts paper, aspirants should be familiar with the CA Foundation 2024 Accounts Paper Pattern. It’s essential to ensure you have a thorough understanding of the latest paper pattern according to the ICAI guidelines. In the CA Foundation Accounts question paper, six questions are provided, but students are required to answer only five questions within a timeframe of 3 hours.

So, if you study diligently, you will have ample time to attempt the questions. The Account paper totals 100 marks, and students should aim to score a minimum of 40%. This paper includes both practical and theoretical questions. The assessment type of this paper focuses on evaluating reporting efficiency, comprehension, and analytical skills.

Lastly, CA Foundation exam dates have been announced by ICAI. It will start on 20 June and close on 26 June 2024.

CA Foundation Exam 2024: Passing Criteria

As a consequence, those aiming to clear the CA Foundation Exam 2024 in their first attempt must secure a minimum of 40% of marks in each paper.

In addition, students need to achieve an overall average of 50% for each of the papers when considered collectively.

Subjective-type questions make up the majority of the framework for Papers 1 and 2, and it’s crucial to note that negative marking will be applied.

On the contrary, adopting an objective approach, for Papers 3 and 4, candidates must attempt all compulsory questions. Therefore, for those aiming to excel in the CA Foundation Exam in 2024, it will be imperative to carefully adhere to the given guidelines while comprehending the structure of the examination.

Steps to Excel In the CA Foundation New Syllabus 2024

First, design a tidy study plan that allocates sufficient time for each subject. Ensure you have access to a variety of CA Foundation study materials, including textbooks, practice questions, and revision notes. Familiarize yourself with these resources to prepare for and comprehend the subjects effectively.

(i) Need guidance: If you are not confident enough, you can opt for CA Foundation online classes. There are several best CA coaching institutes that provide expert guidance and result-oriented study material. Similarly, don’t hesitate to reach out to seniors who have successfully completed the CA Foundation examinations, teachers, or mentors for guidance.

(ii)Time management: Develop effective time management plans that ensure sufficient time is allocated for each question throughout the test, thereby eliminating last-minute rushes.

(iii) Follow a Balanced Lifestyle: To promote optimal concentration and performance, establish a healthy balance between study sessions and leisure activities. This includes taking regular breaks, ensuring adequate rest, and practicing self-care.

Final Thought

In conclusion, Navigating the CA Foundation New Syllabus 2024 – ICAI necessitates dedication, deliberate preparation, and unwavering tenacity. On the contrary, applicants can start an exciting journey to an enjoyable profession in chartered accountancy by accepting early flexibility, putting outstanding learning methods into practice, and getting expert guidance.

Frequently Asked Questions (FAQ’s) 

Q.1. What is the paper pattern of CA Foundation exam 2024?

The CA Foundation examination consists of four papers. Paper 1 and Paper 2 are subjective-type papers, while Paper 3 and Paper 4 are objective-type papers.

Q.2. What are the passing marks for CA Foundation exam 2024?

To qualify for the CA Foundation exam 2024, Students need to score a minimum of 40% marks in each paper and an aggregate of 50% in all four papers.

Q.3. How many years does it take to complete the CA course?

Generally, it takes 5 years, encompassing three levels – Foundation, Intermediate, and Final, along with articleship training.

Q.4. What kind of job is CA?

Managing the finances of an entity involves providing financial advice and assisting with money management.

Read More Blog:

CA Foundation Preparation Strategy And Study Plan For 2024 Exam

CA Foundation Maths Paper 2024: Syllabus, Pattern, And Study Material


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