The Institute of Chartered Accountants of India (ICAI) announced the CA Foundation New Syllabus 2024 on July 1, 2023, as part of the new system of education and training. The new additions and revisions to the CA Foundation 2024 syllabus must be considered by candidates who intend to appear for the exam. The official ICAI website, icai.org, has the syllabus for CA Foundation under the new programme. The last CA Foundation exam to be held under the current scheme utilising the old CA foundation syllabus will be in December 2023, and the first CA Foundation exam under the new ICAI programme will be held in June 2024. The new CA Foundation test syllabus should be noted by interested candidates, and a preparation plan should be created in accordance with it. To learn more about the CA Foundation new curriculum under the ICAI new system, including all the subjects and crucial themes, read 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 :
|Sl. No||Paper Name||Marks||Type of Questions|
|Paper 1||Accounting||100 Marks||Objective|
|Paper 2||Business Laws||100 Marks||Objective|
|Paper 3||Quantitative Aptitude:
Part A: Business Mathematics
Part B: Logical Reasoning
Part C: Statistics
Part A: 40 Marks
Part B: 20 Marks
Part C: 40 Marks
|Paper 4||Business Economics||100 Marks||Subjective|
Detailed CA Foundation Syllabus Under New Scheme 2024
The detailed ICAI CA Foundation syllabus according to the revised structure for each of the aforementioned papers is provided in the table below. The key points for each of the CA Foundation disciplines are also included in the details.
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.
|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||
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|
|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
|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||
|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|
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||
|Business Cycles||Meaning, Phases, Features, Causes behind these Cycles|
Requirements for Clearing CA Foundation Examination 2024
If a candidate receives in a single sitting a minimum of 40% on each paper and a minimum of 50% on the sum of all the papers, they are considered to have passed the Foundation examination.
Papers 1 and 2 are objective in nature and will receive negative marking; further notification will be given. Papers 3 and 4 are of the subjective type.
Preparation Tips for CA Foundation New Syllabus 2024
Here are some helpful tips to get you started on the CA Foundation exam preparation:
Understand the Syllabus: Have a solid grasp of the CA Foundation syllabus. Although there are the same number of papers, one needs to investigate more to see whether topics have been added or deleted from the curriculum and correspondingly prepare.
Start Early: Now that the CA foundation exam syllabus is fully disclosed, candidates should begin their preparations. Starting early will give you enough time to revise and practise later.
Refer to the Right Books and Study Materials: The ICAI website contains study materials for the CA foundation. Candidates can consult it when preparing for the CA. Candidates can also gain a solid understanding for the CA Foundation test by consulting quality books.
Mock Test: To boost performance on exam day, practise with mock exams that mirror the real thing. On its website, ICAI also offers CA Foundation practise exams that applicants can try to complete.
Frequently Asked Question (FAQs)
When was the new syllabus of CA Foundation released?
On July 1, 2023, ICAI issued the revised syllabus.
When is the first CA Foundation exam under the ICAI new scheme for education and training?
In accordance with the revised ICAI education and training plan, the first CA Foundation test will take place in June 2024.
How many papers are there in the CA Foundation new syllabus?
The updated syllabus for the CA Foundation course includes 4 papers.
How many marks is each of the papers in the CA Foundation exam?
Each paper in the CA foundation exam has 100 points.