CA Foundation Principles and Practice of AccountingChapter 1: Theoretical Framework
- Introduction to Accounting
- Accounting Concepts, Principles, and Conventions
- Accounting Standards
- Accounting Policies
- Accounting as a Measurement Discipline - Valuation Principles, Accounting Estimates
Chapter 2: Accounting Process
- Basic Accounting Procedures - Journal Entries, Ledger, Trial Balance
- Subsidiary Books and Cash Book
- Rectification of Errors
- Bank Reconciliation Statement
- Depreciation Accounting
- Preparation of Final Accounts
Chapter 3: Bank Reconciliation Statement
- Meaning and Need for Bank Reconciliation Statement
- Preparation of Bank Reconciliation Statement
- Treatment of Unpresented and Dishonored Cheques
- Errors and Omissions
Chapter 4: Inventories
- Introduction to Inventories
- Valuation of Inventories - Cost and Net Realizable Value
- Methods of Inventory Valuation - FIFO, LIFO, Average Cost
- Lower of Cost or Net Realizable Value
- Inventory Turnover Ratio
Chapter 5: Concept and Accounting of Depreciation
- Introduction to Depreciation
- Factors Affecting Depreciation
- Methods of Depreciation - Straight Line, Written Down Value, Depletion Method
- Change in Depreciation Methods
- Accounting Treatment for Disposal of Depreciable Assets
- Depreciation Policy
Chapter 6: Preparation of Final Accounts of Sole Proprietors
- Trading Account
- Profit and Loss Account
- Balance Sheet
- Adjustments in Final Accounts - Closing Stock, Outstanding Expenses, Prepaid Expenses, Accrued Income, Income Received in Advance, Depreciation
Chapter 7: Accounting for Special Transactions
- Bills of Exchange and Promissory Notes
- Consignment Accounting
- Joint Ventures
- Sale of Goods on Approval or Return Basis
- Average Due Date
- Account Current
Chapter 8: Partnership Accounts
- Introduction to Partnership Accounts
- Final Accounts of Partnership Firms - Profit and Loss Appropriation Account, Capital Accounts, Current Accounts, Distribution of Profit among Partners
- Admission of a Partner - Revaluation of Assets and Liabilities, Treatment of Goodwill
- Retirement and Death of a Partner - Adjustment of Accumulated Profits and Losses, Treatment of Goodwill
- Dissolution of a Partnership Firm
Chapter 9: Financial Statements of Not-for-Profit Organizations
- Introduction to Not-for-Profit Organizations
- Receipt and Payment Account
- Income and Expenditure Account
- Balance Sheet of Not-for-Profit Organizations
- Accounting for Specific Items - Subscription, Legacy, Investment Income, General Donations, Specific Donations
Chapter 10: Company Accounts
- Introduction to Company Accounts
- Issue, Forfeiture, and Re-issue of Shares
- Redemption of Preference Shares and Debentures
- Final Accounts of Companies
- Accounting for Debentures - Issue, Redemption, and Interest
- Analysis of Financial Statements - Tools and Techniques
By following this syllabus for CA Foundation Principles and Practice of Accounting, students will gain a comprehensive understanding of the fundamental concepts and principles of accounting, as well as the practical application of accounting procedures and techniques in various business situations.
This course is helpful for the following exams: CA Foundation