The core and essential subject of the diverse CA Course is accounting, or accountancy, sometimes referred to as the “language of business”. It is a practical subject in and of itself, and at all three levels of the CA Course, it must be studied in minute and exact detail. The topic of accounting has been condensed into a number of short chapters at the CA Foundation level, from which a student can gain a clear understanding of the entire course. Although accounting is further divided into several domains, such as Management Accounting, Tax Accounting, Cost Accounting, and Auditing, etc., that are some of the subjects to be studied in the higher CA levels.

Course Content

1. Theoretical Framework

This comprises the Meaning and Scope of Accounting, Accounting Concepts, Principles, Conventions and Terminology. An understanding of Capital and Revenue Expenditure and Receipts, Contingent Assets and Contingent Liabilities, Accounting Policies, Accounting as a Measurement Discipline and also the Accounting Standards.

2.Accounting Process

Here a student gets to learn about Books of Accounts, Preparation of Trial Balance along with Rectification of Errors.

3.Bank Reconciliation Statement

In this chapter, one learns how to prepare BRS and the grounds for primarily having a BRS.

4.Inventories

Cost Of Inventory, Net Realizable Value, Basis and Technique of Inventory Valuation along with Record Keeping are the topics covered in this chapter.

5.Depreciation Accounting

Concepts, Methods Of Computation and Accounting Treatment of Depreciation along with Changes in existing Depreciation Methods are taught to a student in this chapter.

6.Accounting for Special Transaction

This eclectic topic is divided into five segments wherein a student learns the vast Accounting Treatment for BOE and Promissory Notes, Sale of Goods on Approval or Return Basis, Consignment Transactions, a student is also taught how to Calculate the Average Due Date in the aforementioned scenarios along with preparation of Account Current.

7.Final Accounts of Sole Proprietors

Here a student learns to make Closing Adjustment Entries, Trading A/C, P&L A/C and Balance Sheet of Manufacturing and Non- Manufacturing Entities.

8.Partnership Accounts

In this chapter, a student learns about Final Accounts of Partnership Firms along with Accounting Treatment in various scenarios such as Admission, Retirement, Death of a Partner including Treatment of Goodwill.

9.Financial Statements of Not-for-Profit Organization

Herein a student is taught about the importance of Receipt and Payment Account, Income and Expenditure Account, Balance Sheet, Difference between Income & Expenditure Account and Profit & Loss Account. A student further learns how to make Income & Expenditure Account, Receipt and Payment Account and Balance Sheet for NPO’s.

10.Introduction to Company Accounts

In this wide-ranging chapter, a student learns about Shares and Debentures with Issue & Forfeiture of Shares, Issue of Debentures, Reissue of Forfeited Shares also a student is taught how to make Statement of Profit and Loss and Balance Sheet in accordance with Schedule III of Companies Act,2013.