Aspiring chartered accountants need more than just academic understanding to succeed in the constantly changing financial industry; they also need a curriculum that keeps up with the times. The CA Foundation syllabus comes into play here. In this blog post, we'll go through the main ideas of the CA Foundation course outline and introduce you to Studybytech, a business that specializes in offering excellent CA training. Additionally, we're happy to announce that Studybytech has begun accepting applications for its class of 2024 CA Foundation students!
CA Foundation New Syllabus 2024
In the new syllabus of CA Foundation 2024, under the New ICAI Scheme, the following papers have been included:
Part A: Business Mathematics
Part B: Logical Reasoning
Part C: Statistics
Detailed CA Foundation Syllabus Under New Scheme 2024
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 | Meaning and Scope of Accounting Accounting concepts, principles, and conventions. Capital and revenue expenditure, capital and revenue receipts, contingent assets, and contingent liabilities Accounting Policies. Accounting as a measurement discipline – valuation principles, accounting estimates. Accounting Standards-concepts and objectives.
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Accounting Process | Recording accounting transactions: principles of double entry bookkeeping, books of original entry journal, subsidiary books, cash book, ledger format, posting from journals and subsidiary books, balancing accounts. Preparation of the Trial Balance Rectification Of Errors
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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 amortization | Tangible and intangible assets: meaning & difference, concepts, methods of computation and accounting treatment of depreciation and amortization, 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) |
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Partnership And LLP Accounts | Final accounts of partnership firms and LLP. Admission, retirement, and death of a partner including treatment of goodwill. Dissolution of partnership firms and LLPs, including piecemeal distribution of assets
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Company Accounts | (definition of shares and debts)
Issue shares And debts; forfeiture of shares, reissue of forfeited shares
Redemption of preference shares and debentures (excluding the purchase and redemption of own debentures by the sinking fund method)
Accounting for Bonus Issue and Right Issue
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Paper 2 Business Law
Objective: To develop general legal knowledge of the law of Contracts and sales and an understanding of various forms of businesses and their functioning to regulate the business environment and to acquire the ability to address 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.
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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
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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 organizations
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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, Presentation of Instruments, Rules of Compensation |
Paper 3 Quantitative Aptitude
Objective: To develop an understanding of the basic mathematical and statistical tools and apply the same in business, finance, and economic situations. To develop logical reasoning skills.
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Topics | Sub-Topics |
Part A: Business Mathematics |
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Ratio and proportion, Indices and Logarithms | Ratio and proportion, Time and work-related problems, Laws of inequalities, Exponents and antilogarithms |
Equations | Linear equations up to variables, quadratic equations, 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 ◦ SinkingFunds ◦ Calculating EMI Calculations of Returns: Nominal and Effective Rate of Return Compound Annual Growth Rate (CAGR)
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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 |
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Basic applications of Differential and Integral calculus in Business and Economics (Excluding the trigonometric applications) |
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Part B: Logical Reasoning | Number series coding and decoding, odd man out, Direction Tests, Seating Arrangements, Blood Relations |
Part C: Statistics |
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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 surveys and complete enumerations, some important terms associated with sampling types, sampling errors, and non-sampling errors |
Measures of Central Tendency and Dispersion | Mean Median, Mode, Mean Deviation, Quartiles and Quartile Deviation Standard Deviation, Coefficient of Variation, and 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, and regression coefficients |
Index Numbers | Uses of Index Numbers, Problems Involved in the Construction of Index Numbers, and 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 address application-oriented issues |
Topics | Sub Topics |
Introduction to Business Economics | Meaning and scope of business economics
Basic Problems of an Economy and the Role of Price Mechanism
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Theory of Demand and Supply | Meaning and Determinants of Demand, Law of Demand and Elasticity of Demand – Price, Income and Cross Elasticity.
Theory of Consumer’s Behaviour –Indifference Curve approach.
Meaning and Determinants of Supply, Law of Supply and Elasticity of Supply, Market Equilibrium and Social Efficiency
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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, and Variable Costs
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Price Determination in Different Markets | Market Structures: Perfect Competition, Monopoly, and Monopolistic Competition Using Game Theory to Study Oligopoly
Price determination in these markets
Price- Output Determination under Different Market Forms
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Determination of National Income | Macro Economic Aggregates and Measurement of National Income Determination of National Income: Keynes’ Two Sector Basic Model, Three Sectors and Four Sectors Models
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Business Cycles | Meaning, Phases, Features, Causes behind these Cycles |
Public Finance | Fiscal functions: overview, center, and state finance MarketFailure/Government Intervention to Correct Market Failure Process of budget making: sources of revenue, expenditure management, and management of public debt FiscalPolicy
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Money Market | Concept of Money Demand Important Theories of Demand for Money Concept of Money Supply, Cryptocurrency Another New Terminology Monetary Policy
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International Trade | Theories of International Trade, including theories of intra-industry trade, Krugman TradePolicy–TheInstrumentsofTradePolicy. trade negotiations. ExchangeRatesanditseconomiceffects. International Capital Movements: Foreign Direct Investment
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Indian Economy | Before 1950- Chanakya and Nand Vansh OECDPaper (1950-1991), Basic Knowledge, 1991 Onwards
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Success says volumes, and Studybytech has an amazing track record. Numerous of its pupils not only passed the CA Foundation exam but also did quite well in the following levels, demonstrating the efficiency of its teaching strategies.
Complementing the CA Foundation Syllabus
The compatibility of Studybytech with the CA Foundation curriculum is one of its distinctive advantages. Studybytech's courses are created to complement the curriculum in order to give students a well-rounded education that will adequately prepare them for the exam.
Admissions are open for the CA Foundation 2024 batch!
We're excited to share some news with you! The opening of admissions for the CA Foundation 2024 batch has been enthusiastically announced by Studybytech. This is your chance to start down the path to become a chartered accountant with a solid foundation and knowledgeable direction.
Why choose Studybytech for the CA Foundation?
1. Quality Education: Studybytech is dedicated to offering high-quality instruction so that you will be well prepared for the CA Foundation exam.
2. Experienced Faculty: Learn from knowledgeable instructors who have a thorough understanding of the CA syllabus and exam formats.
3. Proven Track Record: Join the community of accomplished CA Foundation students who used Studybytech's assistance to reach their objectives.
4. Comprehensive Study Materials: To help you prepare, access thorough study materials and resources.
5. Personalized Guidance: To succeed in your studies, take advantage of customized mentoring and doubt-solving sessions.
Conclusion
For prospective chartered accountants, the CA Foundation syllabus for 2024 promises a vibrant and thorough education. With a focus on taxation, ethics, sustainability, and digital finance, it gives students the tools they need to succeed in the rapidly changing financial industry.
Consider Studybytech to be your success partner as you begin your CA Foundation journey. Studybytech is your entry point to a prosperous career in chartered accounting thanks to its competent instructors, a solid track record, and courses created to suit the syllabus. Don't pass up the chance to enroll in the CA Foundation 2024 batch and begin your journey toward a fulfilling career. Enroll today to set yourself up for a successful future!
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CA.Parag Gupta
Studybytech
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