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CA Foundation Syllabus 2024 (New): ICAI New Scheme Syllabus and Subjects

CA Foundation Syllabus 2024 (New): ICAI New Scheme Syllabus and Subjects

Edited By Marar Sumeet Sudarshan | Updated on May 14, 2024 05:24 PM IST | #CA Foundation Exam

The Institute of Chartered Accountants of India (ICAI) has notified the CA Foundation syllabus 2024 under the new scheme of education and training on July 1, 2023. Candidates planning to appear for CA Foundation 2024 must take of the new changes and additions in the CA Foundation 2024 syllabus. The syllabus of CA Foundation under the new scheme is available on the official ICAI website - icai.org. CA Foundation June 2024 is the first exam to be held under CA Foundation new scheme syllabus. ICAI has further notified that from June 2024, CA Foundation will be held thrice a year in January, June, and September sessions.

The first CA Foundation exam under the new ICAI scheme will be conducted from June 20-26, 2024. Candidates should take note of the new syllabus of CA Foundation exam and develop a preparation strategy accordingly. Read the full article to know all details about the CA Foundation new syllabus under the ICAI new scheme, CA Foundation May 2024 syllabus including all the subjects and important topics.

CA Foundation New Syllabus Papers 2024

In the new syllabus of CA Foundation 2024, under the new ICAI scheme, the following papers have been included :

Sl. No

Paper Name

Marks

Type of Questions

Paper 1

Accounting

100 Marks

Subjective

Paper 2

Business Laws

100 Marks

Subjective

Paper 3

Quantitative Aptitude:


Part A: Business Mathematics

Part B: Logical Reasoning

Part C: Statistics

100 Marks


Part A: 40 Marks

Part B: 20 Marks

Part C: 40 Marks

Objective

Paper 4

Business Economics

100 Marks

Objective

Detailed CA Foundation June 2024 Syllabus - Under New Scheme

Given below is a table containing the detailed ICAI CA Foundation new scheme syllabus for each of the papers mentioned above. The details also contain the important topics for each of the CA Foundation subjects.

Paper 1 - Accounting

Objective: To develop an understanding of the basic concepts and principles of accounting and apply the same in preparing financial statements and simple problem-solving.


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.


  1. Issue Shares And Debentures,forfeiture of shares,reissue of forfeited shares.


  1. Redemption of preference shares and debentures(excluding purchase and redemption of own debentures sinking fund method).


  1. Accounting For Bonus Issue And Right Issue.

Paper 2: Business Laws

Objective: To develop general legal knowledge of the law of Contracts, Sales and understanding of various forms of businesses and their functioning to regulate business environment and toacquiretheabilitytoaddress basic application-oriented issues

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

Objective:

  1. To develop an understanding of the basic mathematical and statistical tools and apply the same in business, finance and economic situations.

  2. To Develop logical reasoning skills.

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

  1. ◦ Simple Interest

  2. ◦ Compound Interest

  3. ◦ Nominal and Effective Rate of Interest

  4. ◦ Present Value

  5. ◦ Net Present Value

  6. ◦ Future Value

  7. ◦ Perpetuity

  8. ◦ Annuities

  9. ◦ SinkingFunds

  10. ◦ Calculating EMI

  11. Calculations of Returns:Nominal and Effective rate of Return

  12. 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,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

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

Also Read: How to Prepare for CFA Level 1 Exam 2023? - Preparation Tips & tricks

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

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.


  1. Theory of Consumer’s Behaviour –Indifference Curve approach.


  1. Meaning and Determinants of Supply, Law of Supply and Elasticity of Supply, Market Equilibrium and Social Efficiency

Theory of Production and Cost

  1. Meaning and Factors of Production, Short Run and Long Run.


  1. Law of Production–The Law of Variable Proportions and Laws of Returns to Scale,Producer’s Equilibrium.


  1. 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.


  1. Price Determination in these Markets.


  1. 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. TradePolicy–TheInstrumentsofTradePolicy.

  3. TradeNegotiations.

  4. ExchangeRatesanditseconomiceffects.

  5. International Capital Movements: Foreign DirectInvestment

Indian Economy

  1. Before 1950- Chanakya and Nand Vansh

  2. OECDPaper (1950-1991),

  3. Basic knowledge 1991 Onwards

Requirements for Clearing CA Foundation Examination 2024

A candidate would be said to have passed the Foundation examination, if he or she obtains in one sitting a minimum of 40% marks in each paper and minimum of 50% marks in the aggregate of all the papers.

Paper 1 and 2 are objective-type papers and will have negative marking as will be notified later. Papers 3 and 4 are subjective type papers.

Preparation Tips for CA Foundation Syllabus 2024

Here are some useful preparation tips to help one to start their preparation for the CA Foundation exam:

  • Know the Syllabus: Understand the CA Foundation syllabus well. Even though the number of papers is the same, one must go deeper to see what topics have been included or excluded from the curriculum and prepare accordingly

  • Start Early: Now that all details about the syllabus of the CA foundation exam is available, one should start their preparations. Starting early will provide enough time at the back end for revision and practice.

  • Refer Right Study Material and Books: ICAI makes available study material for CA foundation on the website. Candidates can refer to it for the CA preparations. Additionally, candidates can also refer to good books for the CA Foundation exam and develop a good understanding.

  • Mock Test: Practise with mock tests and simulate real exam experience to improve performance at the time of exam. ICAI also provides CA Foundation mock tests on its website which candidates can attempt to solve.

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Frequently Asked Question (FAQs)

1. When was the new syllabus of CA Foundation released?

The new syllabus was released by ICAI on July 1, 2023

2. When is the first CA Foundation exam under the ICAI new scheme for education and training?

The first CA Foundation exam under ICAI's new scheme for education and training is from June 20-26, 2024.

3. How many papers are there in the CA Foundation new syllabus?

There are 4 papers in the new syllabus of CA Foundation course.

4. How many marks is each of the papers in the CA Foundation exam?

In the CA foundation exam each paper is of 100 marks.

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Questions related to CA Foundation Exam

Have a question related to CA Foundation Exam ?

If you chose chartered accountant (CA), then you have to write several exams and practical training. Here are some exams to write in your road to pursue CA, that are conducted by ICAI.

  • If you have passed 10th, then you can take an entry level exam. This foundation course consists of 4 papers
  • If you are a graduate or postgraduate with specified marks or higher degrees or you passed the foundation course then you can register for the IPCC. It consists of 2 groups with 4 papers each.
  • After you pass either 1 or both groups of IPCC, you should pursue articleship.
  • After completion or if you still have 6 months of your articles hip time, you can appear for the CA final exams. It consists of 2 groups each consists of 4 papers.
  • Before appearing for your final exams, you should undergo AICITSS during the last 2 years of practical training.
  • After you have passed in final exams and articleship, you can be a member of ICAI and can use Chartered Accountant before your name.

Dear aspirant !

Hope you are doing well !

CA Foundation Exam Pattern 2024 – Details

  • The CA Foundation examination consists of four papers.
  • Paper 1 and Paper 2 are subjective type papers.
  • Paper 3 and Paper 4 are objective type papers.
  • The CA Foundation exam is conducted for a total of 400 marks, with each paper carrying 100 marks.

Candidates must successfully clear their 10th and 12th exams from a recognized educational institute . Also, the minimum mark they need to attain in their 12th standards is 50% aggregate. There is no age restriction to apply for the CA foundation.

The details of this exam is given below ;-

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://finance.careers360.com/exams/ca-foundation-exam/amp&ved=2ahUKEwjev-n0t5KEAxWOSmwGHYFyBicQFnoECB0QAQ&usg=AOvVaw2eBxiO3YusK-Mh7jFbZ1Dp .

Hope it helps you !

Thanking you !!

A breach of contract refers to the failure of one party to fulfill its responsibilities under the terms of a contract, that leads to legal consequences and potential remedies for the non breaching party. In simple terms, it's when one party doesn't do what they promised to do in a contract.

A breach of contract can take various forms, including:

  1. Material Breach
  2. Minor Breach
  3. Anticipatory Breach
  4. Actual Breach.

Hello,


I'm assuming you mean that you wrote wrong question booklet number in CA Foundation Maths exam and then corrected it using a whitener and wrote the correct number over it. If this is the case, then you don't need to worry as such mistakes happen a lot among students every year and as we cannot replace the OMR sheet, the invigilators suggest to use whiteners.

It's perfectly normal and acceptable. You need not worry about anything.

Hope this helps,

Thank you

Hello aspirant,

Due to unforeseen circumstances, the Institute of Chartered Accountants of India (ICAI) has changed the exam dates for the CA Foundation 2023 December session. The CA Foundation December 2023 exam will be held on December 31, 2023, and January 2,4,6, 2024, according to the updated CA Foundation timetable. Registration for the December 2023 session of the ICAI CA Foundation is currently closed. The CA Foundation June 2023 results had already been made public by the institute on August 7, 2023. A new education and training programme has also been announced by ICAI, and it will go into effect on July 1st, 2023.

For more information you can visit our site by clicking on the link given below.

https://finance.careers360.com/articles/ca-foundation-important-dates

Thank you

Hope this information helps you.

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