CA Foundation Updated New Syllabus 2024 – ICAI

The Institute of Chartered Accountants of India (ICAI) updated the new CA Foundation syllabus under its new scheme of education and training on July 1, 2023.

Aspiring candidates preparing for the CA Foundation 2024 examination are advised to update themselves with the recently included modifications and additions to the syllabus. For those seeking the detailed CA Foundation New Scheme 2024 syllabus, it can be accessed on the official ICAI website at icai.org. 

In this blog, we aim to explain and clarify the whole CA Foundation New Scheme 2024 syllabus, offering readers a thorough understanding and preparation guide.

Subjects Covered in the New Syllabus

1st Paper – Principles and Practice of Accounting

2nd Paper – Business Laws

3rd Paper – Business Mathematics, Logical Reasoning and Statistics

4th Paper – Business Economics

Also Read: No. 1 CA Coaching Classes in Delhi for Foundation, Inter, & Final

Complete detail About CA Foundation Exam

Particulars Details
Examination Name CA Foundation exam
Exam Conducted By The Institute Of Chartered Accountants of India (ICAI)
Exam Mode Offline
Exam Frequency Twice a year (May / November)
Exam level National Level
Exam duration 3 hours for Paper 1 and Paper 2

2 hours for Paper 3 and Paper 4.

Number of paper 4
Exam difficulty Easy to moderate
Maximum marks for each paper 100
Marking scheme There will be no negative marking in Papers 1 and 2 as questions will be subjective.However,  ¼ mark will be deducted for every wrong answer in Paper 3 and Paper 4 as questions will be objective.
Paper names 1 – Principles and Practice of Accounting

2 – Business Laws and Business Correspondence and Reporting

3 – Business Mathematics, Logical Reasoning and Statistics

4 – Business Economics and Business and Commercial Knowledge

Total marks for all 4 papers 400
Medium of exam English/Hindi

 

CA Foundation Syllabus 2024: Paper-Wise

The CA Foundation syllabus is carefully designed and divided into four different subjects. To offer a clearer perspective on the structure and content, here’s a table describing the CA Foundation New Syllabus 2024. This table defines important topics for each subject so that students have a complete roadmap for their studies.

Paper 1: Principles and Practice of Accounting

The CA Foundation 2024 Paper 1 delves into core accounting concepts, equipping candidates with the skills to craft financial statements and address foundational accounting challenges proficiently.

N0. of Modules & Chapters Topic & Sub-topic
MODULE 1 :
Chapter 1 Theoretical Framework

  • Unit 1: Meaning and Scope of Accounting
  • Unit 2: Accounting Concepts, Principles and Conventions
  • Unit 3: Capital and Revenue Expenditures and Receipts
  • Unit 4: Contingent Assets and Contingent Liabilities
  • Unit 5: Accounting Policies
  • Unit 6: Accounting as a Measurement Discipline – Valuation Principles, Accounting Estimates
  • Unit 7: Accounting Standards
Chapter 2 Accounting Process

  • Unit 1: Basic Accounting Procedures – Journal entries
  • Unit 2: Ledgers
  • Unit 3: Trial Balance
  • Unit 4: Subsidiary Books
  • Unit 5: Cash Book
  • Unit 6: Rectification of Errors
Chapter 3 Bank Reconciliation Statement
Chapter 4 Inventories
Chapter 5 Depreciation and Amortisation
Chapter 6 Bills of Exchange and Promissory Notes
Chapter 7 Preparation of Final Accounts of Sole Proprietors

  • Unit 1: Final Accounts of Non-Manufacturing Entities
  • Unit 2: Final Accounts of Manufacturing Entities
MODULE 2 :
Chapter 8 Financial Statements of Not-for-Profit Organisations
Chapter 9 Accounts from Incomplete Records
Chapter 10 Partnership and LLP Accounts

  • Unit 1: Introduction to Partnership Accounts
  • Unit 2: Treatment of Goodwill in Partnership Accounts
  • Unit 3: Admission of a New Partner
  • Unit 4: Retirement of a Partner
  • Unit 5: Death of a Partner
  • Unit 6: Dissolution of Partnership Firms and LLPs
Chapter 11 Company Accounts

  • Unit 1: Introduction to Company Accounts
  • Unit 2: Issue, Forfeiture and Re-Issue of Shares
  • Unit 3: Issue of Debentures
  • Unit 4: Accounting for Bonus Issue and Right Issue
  • Unit 5: Redemption of Preference Shares
  • Unit 6: Redemption of Debentures


Paper 2 – Business Laws

CA Foundation Paper 2 on Business Laws and Business Correspondence and Reporting is composed of 7 chapters, offering a comprehensive exploration of essential legal frameworks and effective business communication strategies.

Total No of Chapters Topic & Sub-topic
Chapter 1 Indian Regulatory Framework
Chapter 2 The Indian Contract Act, 1872

  • Unit 1: Nature of Contracts
  • Unit 2: Consideration
  • Unit 3: Other Essential Elements of a Contract
  • Unit 4: Performance of Contract
  • Unit 5: Breach of Contract and its Remedies
  • Unit 6: Contingent and Quasi Contracts
  • Unit 7: Contract of Indemnity and Guarantee
  • Unit 8: Bailment and Pledge
  • Unit 9: Agency
Chapter 3 The Sale of Goods Act, 1930

  • Unit 1: Formation of the Contract of Sale
  • Unit 2: Conditions & Warranties
  • Unit 3: Transfer of Ownership and Delivery of Goods
  • Unit 4: Unpaid Seller
Chapter 4 The Indian Partnership Act, 1932

  • Unit 1: General Nature of Partnership
  • Unit 2: Relations of Partners
  • Unit 3: Registration and Dissolution of a Firm
Chapter 5 The Limited Liability Partnership Act, 2008
Chapter 6 The Companies Act, 2013
Chapter 7 The Negotiable Instruments Act, 1881


Paper 3 – Quantitative Aptitude

CA Foundation Paper 3 on Business Mathematics, Logical Reasoning, and Statistics is organized into three distinct parts, containing a total of 18 chapters. Part A contains 8 chapters, Part B is divided into 4 chapters, and Part C delves into 6 chapters, collectively offering a complete coverage of the subject matter.

PART-A: BUSINESS MATHEMATICS

No. of Chapters in Part-A Topic & Sub-topic
Chapter 1 Ratio and Proportion, Indices, Logarithms
Chapter 2 Equations
Chapter 3 Linear Inequalities
Chapter 4 Mathematics of Finance
Chapter 5 Basic Concepts of Permutations and Combinations
Chapter 6 Sequence and Series – Arithmetic and Geometric Progressions
Chapter 7 Sets, Relations and Functions, Basics of Limits and Continuity functions
Chapter 8 Basic Applications of Differential and Integral Calculus in Business and Economics

  • (A) Differential Calculus
  • (B) Integral Calculus


PART-B: LOGICAL REASONING

No. Of Chapters in Part-B Topic
Chapter 9 Number Series, Coding and Decoding and Odd Man Out
Chapter 10 Direction Tests
Chapter 11 Seating Arrangements
Chapter 12 Blood Relations


PART-C: STATISTICS

No. Of Chapters in Part-c  Topic & Sub-topic
Chapter 13 Representation of Data

  • Unit I: Statistical Representation of Data
  • Unit II: Sampling
Chapter 14 Measures of Central Tendency and Dispersion

  • Unit I: Measures of Central Tendency
  • Unit II: Dispersion
Chapter 15 Probability
Chapter 16 Theoretical Distributions
Chapter 17 Correlation and Regression
Chapter 18 Index Numbers


Paper 4 – Business Economics

The CA Foundation 2024 Paper 4, focused on Business Economics and Business and Commercial Knowledge, contains a total of 10 informative chapters, offering a deep understanding of economic principles and commercial understanding.

Total No. Of Chapters Topic & Sub-topic
Chapter 1 Nature & Scope of Business Economics

  • Unit 1: Introduction
  • Unit 2: Basic Problems of an Economy & Role of Price Mechanism
Chapter 2 Theory of Demand and Supply

  • Unit 1: Law of Demand and Elasticity of Demand
  • Unit 2: Theory of Consumer Behaviour
  • Unit 3: Supply
Chapter 3 Theory of Production and Cost

  • Unit 1: Theory of Production
  • Unit 2: Theory of Cost
Chapter 4 Price Determination in Different Markets

  • Unit 1: Meaning and Types of Markets
  • Unit 2: Determination of Prices
  • Unit 3: Price Output Determination under Different Market Forms
Chapter 5 Business Cycles
Chapter 6 Determination of National Income

  • Unit 1: National Income Accounting
  • Unit 2: The Keynesian Theory of Determination of National Income
Chapter 7 Public Finance

  • Unit 1: Fiscal Functions: An Overview, Centre and State Finance
  • Unit 2: Market Failure/ Government intervention to correct Market Failure
  • Unit 3: The Process of Budget Making: Sources of Revenue, Expenditure Management and Management of Public Debt
  • Unit 4: Fiscal Policy
Chapter 8 Money Market

  • Unit 1: The Concept of Money Demand: Important Theories
  • Unit 2: The Concept of Money Supply
  • Unit 3: Monetary Policy
Chapter 9 International Trade

  • Unit 1: Theories of International Trade
  • Unit 2: The Instruments of Trade Policy
  • Unit 3: Trade Negotiations
  • Unit 4: Exchange Rate and Its Economic Effects
  • Unit 5: International Capital Movements
Chapter 10 Indian Economy


CA Foundation Subject wise Weightage

S. No CA Foundation Subjects Marks Type of Questions
Paper 1 Accounting 100 Marks Subjective
Paper 2 Business Laws 100 Marks Subjective
Paper 3 Quantitative Aptitude:

A: Business Mathematics

B: Logical Reasoning

C: Statistics

100 Marks

A: 40 Marks

B: 20 Marks

C: 40 Marks

Objective
Paper 4 Business Economics 100 Marks Objective

Passing Criteria For CA Foundation Exam 2024

  • To successfully clear the CA Foundation Exam 2024 on the first try, candidates are required to score a minimum of 40% in each paper.
  • Moreover, candidates must attain a total score of at least 50% across all the papers combined.
  • The format for Papers 1 and 2 mainly comprises subjective-type questions, and it’s important to note that negative marking will be applicable.
  • However, Papers 3 and 4 adopt a objective approach, which requires candidates to provide detailed responses to the questions posed.
  • Following these guidelines and understanding the examination format will be important for students aiming to excel in the CA Foundation Exam 2024.

Tips to Excel in the CA Foundation New Syllabus 2024

  1. Structured Study Plan: Create an in-depth study plan, allocating sufficient time for each subject.
  2. Practice Regularly: Regular practice and revision are important. Solve mock tests and the previous year’s question papers.
  3. Seek Guidance: Don’t hesitate to seek guidance from mentors, teachers, or seniors who have cleared the CA Foundation exams.
  4. Time Management: Develop effective time management strategies to allocate sufficient time for each question during the examination and avoid last-minute rushes.
  5. Maintain a Balanced Lifestyle: Ensure a healthy balance between study sessions and relaxation, incorporating breaks, physical activity, and adequate sleep to maintain optimal focus and performance.

Also Read: Subject-Wise Strategy for CA Inter Exam May 2024

Frequently Asked Questions

Ques1: What is the CA Foundation?

Ans: The CA Foundation is an entry-level examination conducted by the Institute of Chartered Accountants of India (ICAI). For students who want to pursue chartered accountancy as a profession.

Ques2: When was the CA Foundation New Scheme implemented?

Ans: The CA Foundation New Scheme was officially implemented on July 1, 2023.

Ques3: Where can I access the detailed syllabus for the CA Foundation New Scheme?

Ans: The full syllabus of the CA Foundation New Scheme is available for review on the official ICAI website at icai.org.

Ques4: How many papers are there in the CA Foundation New Scheme?

Ans: The CA Foundation New Scheme includes four papers.

Ques5: Is there any negative marking in the CA Foundation examination?

Ans: Yes, negative marking is applicable for objective-type papers (Papers 1 and 2) in the CA Foundation examination.

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