CA Foundation course & syllabus 2024 as per the new scheme of ICAI, CA Foundation Subject-Wise Syllabus for 2024 Examinations.
CA Foundation is the entrance level of the CA Course, to start preparation for this course in 2024, you need to understand the complete syllabus and subjects of this first level of Chartered Accountancy.
In CA Foundation you need to prepare for both subjective type examinations and objective type examinations.
The first question is who can Join the CA Foundation Course in 2024?
- Students who have appeared in 12 Board examinations in 2024.
- Students who have already passed their 12th board examination.
CA Foundation Course & Syllabus 2024
CA Foundation new syllabus covers 4 subjects with subjective and objective types of questions. Calculators are allowed in examinations which makes this exam more crucial as all types of numerical are time-consuming and can be resolved with a calculator only.
| Paper | Subject | Marks | Type of Questions |
|---|---|---|---|
| 1 | Accounting | 100 Marks | Subjective |
| 2 | Business Laws | 100 Marks | Subjective |
| 3 | Quantitative Aptitude: | 100 Marks | Objective |
| 4 | Business Economics | 100 Marks | Objective |
Inquire Now for CA Foundation Online/Offline Classes
IGP CA Foundation Coaching Classes for December 2024
| Modes of Classes | Location | Inquire Now |
|---|---|---|
| Face to Face | Janakpuri, Laxmi Nagar, & Rohini (Delhi) | 011-41576333 |
| Online | Google Drive/Pen Drive Classes | 011-41576333 |
CA Foundation Subject Wise Syllabus 2024
ICAI released a new syllabus for CA Foundation 2024 Examinations subject or paper-wise. Details of new subject-wise syllables are as follows:
Paper 1 – Accounting
The first paper in the CA Foundation course will be Accounting. The aim of Paper 1 is to provide conceptual knowledge about the fundamentals of accounting and to evaluate your capability to solve basic questions of accounting.
| Topics | Sub-Topics |
|---|---|
| Theoretical Framework | 1. Meaning and Scope of Accounting. 2. Accounting concepts, principles and conventions. 3. Capital and revenue expenditure, capital and revenue receipts, contingent assets and contingent liabilities. 4. Accounting Policies. 5. Accounting as a measurement discipline – valuation principles, accounting estimates. Accounting Standards-concepts and objectives. |
| Accounting Process | 1. Recording accounting transactions: principles of double entrybook-keeping, books of original entry-journal, subsidiary books, cash book, ledger-format, posting from journals and subsidiary books, balancing accounts. 2. Preparation Of Trial Balance. 3. Rectification Of Errors |
| Bank Reconciliation Statement | Introduction, reasons and preparation of bank reconciliation statement |
| Inventories | Meaning, basis and technique of inventory valuation, cost of inventory, net realisable value and record system |
| Depreciation and Amortisation | Tangible and intangible assets- meaning & difference, concepts, methods of computation and accounting treatment of depreciation/amortisation, change in 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 | Significance and preparation of receipt and payment account, income and expenditure account and balance sheet, difference between profit and loss account and income and expenditure account |
| Accounts from Incomplete Records (excluding preparation of accounts based on ratios). | – |
| Partnership And LLP Accounts | 1. Final accounts of partnership firms and LLP. 2. Admission, retirement and death of a partner including treatment of goodwill. 3. Dissolution of partnership firms and LLPs including piecemeal distribution of assets |
| Company Accounts | 1. Definition Of Shares And Debentures. 2. Issue Shares And Debentures, forfeiture of shares, reissue of forfeited shares. 3. Redemption of preference shares and debentures(excluding purchase and redemption of own debentures sinking fund method). 4. Accounting For Bonus Issue And Right Issue. |
Paper 2: Business Laws
The second paper of the CA Foundation course is Business Law. Paper 2 is a completely new subject for all students who have passed their 12th class. Business Law is an essential part of the CA profession and to enhance your knowledge about some basic business law this subject is included in the CA Foundation level.
| Topics | Sub-Topics |
|---|---|
| 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 Nature Of Contract, Consideration, Other essential elements of a valid contract, Performance Contract, Breach Of Contract, Contingent and Quasi Contract, Contract of Indemnity and Guarantee, Contract of Bailment and Pledge, Contract of Agency |
| 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
The third paper of the CA Foundation course is Quantitative Aptitude. Paper 3 Quantitative Aptitude consists of three parts Business Mathematics, Logical Reasoning, and Statistics. This subject will allow you to check your calculation ability to perform batter in further levels of CA course.
| Topics | Sub-Topics |
|---|---|
| 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 |
| Equations | Linear Equations Upto Three Variables, Quadratic and Cubic equations in one variable. Applications in Business Related Problems. |
| Linear Inequalities | Linear Inequalities in one and two variables and the solution space |
| Mathematics of Finance | – Simple Interest – Compound Interest – Nominal and Effective Rate of Interest – Present Value – Net Present Value – Future Value – Perpetuity – Annuities – Sinking Funds – Calculating EMI – Calculations of Returns: Nominal and Effective rate of Return – Compound Annual Growth Rate(CAGR) |
| 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, Relationship between AM and GM and Sum of terms of special series and Business Applications |
| 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 |
| Sampling | 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 |
| Probability | Independent and dependent events;mutually exclusive events.Total and Compound Probability and Bayes Theorem |
| Theoretical Distributions | 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 |
| Index Numbers | Uses of Index Numbers, Problems involved in construction Index Numbers,Methods of construction of Index Numbers.BSE SENSEX NSE |
Paper 4: Business Economics
The fourth paper of CA Foundation in Business Economics. Paper 4 Business Economics is a familiar subject for commerce stream students. This paper includes the basics of economics and its rules.
| Topics | Sub-Topics |
|---|---|
| Topics | Sub Topics |
| 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 | 1. Meaning and Determinants of Demand, Law of Demand and Elasticity of Demand – Price, Income and Cross Elasticity. 2. Theory of Consumer’s Behaviour –Indifference Curve approach. 3. Meaning and Determinants of Supply, Law of Supply and Elasticity of Supply, Market Equilibrium and Social Efficiency |
| Theory of Production and Cost | Meaning and Factors of Production, Short Run and Long Run.Law of Production–The Law of Variable Proportions and Laws of Returns to Scale,Producer’s Equilibrium.Concepts of Costs – Short-run and long-run costs, Average and Marginal Costs, Total, Fixed andVariable Costs |
| Price Determination in Different Markets | 1. Market Structures: Perfect Competition, Monopoly and Monopolistic Competition. Using Game Theory to study Oligopoly. 2. Price Determination in these Markets. 3. Price- Output Determination under different Market Forms |
| Determination of National Income | 1. Macro Economic Aggregates and Measurement of National Income 2. Determination of National Income: Keynes’ Two Sector Basic Model, Three Sectors and Four Sectors Models |
| Business Cycles | Meaning, Phases, Features, Causes behind these Cycles |
| Public Finance | 1. Fiscal functions: AnOverview, Centre and StateFinance. 2. MarketFailure/Government Intervention To Correct Market failure. 3. Process of budget making: Sources of Revenue, Expenditure Management, and management of Public Debt. 4. FiscalPolicy |
| Money Market | 1. Concept of Money Demand 2. Important theories of Demand for Money 3. Concept of Money Supply, Cryptocurrency Another New Terminology 4. Monetary Policy |
| International Trade | 1. Theories of International Trade including theories of intra-industry trade Krugman. 2. Trade Policy–The Instruments of Trade Policy. 3. Trade Negotiations. 4. Exchange Rates and its economic effects. 5. International Capital Movements: Foreign DirectInvestment |
| Indian Economy | 1. Before 1950- Chanakya and Nand Vansh 2. OECDPaper (1950-1991), 3. Basic knowledge 1991 Onwards |
CA Foundation Course Eligibility by ICAI
- A student who has passed the Class 10 examination conducted by an examining body constituted by law in India (or an examination recognized by the Central Government as equivalent thereto) may register for Common Proficiency Test.
- A registered student may appear in Common Proficiency Test after he has appeared in the Senior Secondary Examination* (10+2 examination) conducted by an examining body constituted by law in India (or an examination recognized by the Central Government as equivalent thereto) and has complied with such requirements as may be specified by the Council from time to time.
- A student who has got himself registered for Common Proficiency Test 60 days prior to the first day of the month in which CPT examination is to be held i.e. on or before 1st April and 1st October, can appear in the CPT examination to be held in June and December respectively. Common Proficiency Test examinations are held in June & December every year.
ICAI Official Website: https://www.icai.org/post.html?post_id=3374
List of Examinations treated as equivalent to Senior Secondary Examination:
| 1. | Board of Intermediate Education, Andhra Pradesh |
| 2. | Assam Higher Secondary Education Council |
| 3. | Bihar School Examination Board |
| 4. | Central Board of Secondary Education (CBSE) |
| 5. | Chhatisgarh Board of Secondary Education |
| 6. | Council for Indian School Certificate Examinations (CISCE) |
| 7. | Goa Board of Secondary and Higher Secondary Education |
| 8. | Gujarat Secondary & Higher Secondary Education |
| 9. | Board of School Education, Haryana |
| 10. | H. P. Board of School Education |
| 11. | J & K State Board of School Education |
| 12. | Jharkhand Academic Council |
| 13. | Government of Karnataka Department of Pre-University Education |
| 14. | Kerala Board of Higher Secondary Education |
| 15. | Maharashtra State Board of Secondary & Higher Secondary Education |
| 16. | Board of Secondary Education, Madhya Pradesh |
| 17. | Council of Higher Secondary Education, Manipur |
| 18. | Meghalaya Board of School Education |
| 19. | Mizoram Board of School Education |
| 20. | Nagaland Board of School Education |
| 21. | Council of Higher Secondary Education, Orissa |
| 22. | Punjab School Education Board |
| 23. | Board of Secondary Education, Rajasthan |
| 24. | Tamil Nadu State Board of School Examinations |
| 25. | Tripura Board of Secondary Education |
| 26. | U. P. Board of High School and Intermediate Education |
| 27. | Board of School Education, Uttarkhand |
| 28. | West Bengal Council of Higher Secondary Education |
| 29. | Chhatisgarh State Open School |
| 30. | M.P. State Open School |
| 31. | National Institute of Open Schooling |
| 32. | Rajasthan State Open School |
| 33. | The West Bengal Council of Ravindra Open Schooling |
| 34. | Banasthali Vidyapith |
5 (Five) passes at GCE ‘O’ level/GCSE/IGCSE in A/B/C Grades and two passes at GCE ‘Advanced’ level examination of the approved British Examining Bodies is recognized by the Association of Indian Universities as equivalent to +2 stage qualification of an Indian Body.
Students who have completed two years of higher education including Diploma course after passing 10th class, conducted either by Central/ State Government(s) and on passing such a course have either been admitted to first year of graduation course or have passed the graduation course conducted by any University, including Open Universities, established by law in India shall be also eligible for admission to the Common Proficiency Test (CPT).
10+2 Examination of any other recognized Board/University not covered above but recognized by Association of Indian Universities (AIU) as equivalent to Senior Secondary (10+2) Examination as recognized by Central Government.
Related: CA Intermediate Course 2024
Related: CA Final Course 2024