CA Foundation Syllabus 2023: The Institute of Chartered Accountants of India is a carrying-out authority that is responsible for framing and releasing the CA syllabus foundation 2023. The ICAI foundation syllabus is released as a pdf file on the official website, www.icai.org. The CA foundation syllabus provides complete details and information related to the topics and sub-topics covered in ICAI Foundation exam.
Candidates are required to start their preparations by concentrating on the CA foundation 2023 syllabus. It is important for the candidates to understand the syllabus and prepare accordingly. In this article, we will be providing the detailed syllabus of all four papers. To know more about the CA Foundation 2023 syllabus continue reading the article below.
ICAI Foundation Syllabus 2023 – Papers Included
The CA Foundation syllabus contains four papers in total, i.e., Paper 1, Paper 2, Paper 3, and Paper 4. The candidates need to focus on these four papers only to have solid preparation for their CA Exam 2023. Each paper consists of 100 marks.
|CA Foundation Papers||Details|
|Paper 1||Principles and Practise of Accounting|
|Paper 2||Business Laws and Business Correspondance and Reporting|
|Paper 3||Business Mathematics, Logical Reasoning and Statistics|
|Paper 4||Business Economics and Business and Commercial Knowledge|
Paper-wise CA Foundation Syllabus 2023
Students must cover entire syllabus before the CA Foundation Exam Date 2023 and thereafter start revision. On the basis of the above-mentioned CA Foundation papers, the syllabus is as follows.
Paper 1: Principles and Practise of Accounting
|Theoretical Framework||Meaning and Scope of accountingAccounting Concepts, Principles and ConventionsAccounting terminology – GlossaryCapital and revenue expenditure, Capital and revenue receipts, Contingent assets and contingent liabilitiesAccounting PoliciesAccounting as a Measurement Discipline – Valuation Principles, Accounting EstimatesAccounting Standards – Concepts and ObjectivesIndian Accounting Standards – Concepts and Objectives|
|Accounting Process||Books of AccountsPreparation of Trial BalanceRectification of errors|
|Bank Reconciliation Statement||Introduction, reasons, preparation of bank reconciliation statement|
|Inventories||Cost of inventory, Net realizable value, Basis and technique of inventory valuation and record keeping|
|Concept and Accounting of Depreciation||Concepts, Methods of computation and accounting treatment of depreciation, Change in depreciation methods|
|Accounting for special transaction||Bills of exchange and promissory notes- Meaning of Bills of Exchange and Promissory Notes and their Accounting Treatment; Accommodation bills.Sale of goods on approval or return basis- Meaning of goods sent on approval or return basis and accounting treatment.Consignments- Meaning and Features of consignment business, Difference between sale and consignment, Accounting treatments for consignment transactions and events in the books of consignor and consignee.Average due Date- Meaning, Calculation of average due date in various situations.Account Current- Meaning of Account Current, Methods of preparing Account Current|
|Final Accounts of Sole Proprieter||Elements of financial statements, Closing Adjustment Entries, Trading Account, Profit and Loss Account and Balance Sheet of Manufacturing and Non-manufacturing entities|
|Partnership Accounts||Final Accounts of Partnership FirmsAdmission, Retirement and Death of a Partner including Treatment of GoodwillIntroduction to LLPs and Distinction of LLPs from Partnership|
|Financial Statements of Not-for-Profit Organizations||Significance of Receipt and Payment Account, Income and Expenditure Account and Balance Sheet, Difference between Profit and Loss Account and Income and Expenditure Account. Preparation of Receipt and Payment Account, Income and Expenditure Account and Balance Sheet|
|Introduction to company accounts||Definition of shares and debenturesissue of shares and debentures, forfeiture of shares, re-issue of forfeited sharesStatement of Profit and Loss and Balance Sheet as per Schedule III to the Companies Act, 2013.|
Check Best Books for CA Foundation 2023 to cover the syllabus efficiently.
Paper 2: Business Laws and Business Correspondance and Reporting
Paper 2 is divided into two sections, i.e., Section A and Section B. The section-wise syllabus of the same is given below.
Section A – Business Laws
The Topics of Business Laws are as follows. Candidates can check it out and mark it in their books.
- The Indian Contract Act, 1872: An overview of Sections 1 to 75 covering the general nature of the contract, consideration, other essential elements of a valid contract, performance of a contract, breach of contract, Contingent and Quasi Contract.
- 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.
- The Companies Act, 2013: Essential features of the company, corporate veil theory, Classes of companies, types of share capital, Incorporation of company, Memorandum of Association, Articles of Association, Doctrine of Indoor Management
Section B – Business correspondence and Reporting
|Communication||Types Direction Network Process Problems Barriers Types of communication Sample questions with answers Exercises|
|Sentence Types (Direct-Indirect, Active -Passive Speech)||Sentence: DefinitionClassification of sentence based on connotation – a) Assertive sentences b) Interrogative sentences c) Imperative sentences d) Exclamatory sentences e) Optative sentencesSentence StructureTypes of sentences a) Simple sentence b) Compound sentence c) Complex sentence d) Compound-complex sentenceDirect-Indirect Speech Active Passive VoiceVerbs Voice Active or passiveExercises|
|Vocabulary Root Words, Synonyms, Antonyms, Prefixes, Suffixes), Phrasal verbs, Collocations and Idioms.||Introduction Significance of improving vocabulary How to improve vocabularyRoot wordsSynonyms and AntonymsWords formed by using PrefixesWords formed by using SuffixesPhrasal verbsCollocationsIdiomsExercises|
|Comprehension Passages||Introduction to Comprehension PassagesPoints to ponderSample Passages with answersExercises|
|Note Making||Introduction to Note MakingSignificance of Note MakingDetailed Format Heading (Title) – a) Sub-heading b) Indentation c) Points d) Use of abbreviations e) Summary f) Content g) ExpressionSteps to Comprehend and summarize a text Helpful HintsSample Passages with NotesExercises|
|Introduction to Basic Writing||Introduction Process of writing Styles of writing Significance of writing skills Writing ConventionsCharacteristics of good writingDo’s and Don’ts of good writing|
|Précis Writing||What is Précis writing?Features of good Précis writingHow to write a PrécisDo’s and Don’ts of Précis writingExamples Exercises|
|Article writing||What is an Article?(ii) Essential elements of Article Writing(iii) Detailed Format – a) Title b) By- Writer’s Name c) Body – Introduction – Main Idea-Support – Conclusion d) Sample Articles e) Exercises|
|Report Writing||What is a Report?Essential elements of Report WritingKinds of ReportsDetailed Format|
|Writing formal letters||Types of Letters -Detailed formatPoints to RememberSample letters Exercises|
|Writing formal mails||How to Write a Formal Mail?Writing Effective MailsEssential elements of MailsTips and Conventions of MailsSample mailsExercises|
|Resume writing||Essential Elements of ResumeResume Writing Tips and ConventionsExercises|
|Meetings||Notice Agenda Drafting minutes Action taken report|
Paper 3: Business Mathematics, Logical Reasoning, and Statistics
Paper 3 are divided into three parts, i.e., Part A, B, and C. the section-wise topics are as follows.
Part A Business Mathematics
|Ratio, and Proportion, Indices, and Logarithms||Ratio and Proportion (Business Applications related to Ration and Proportion) Laws of Indices, Exponents and Logarithms and Anti Logarithms.|
|Equations||Simultaneous linear equations up to three variables, Quadratic and Cubic equations in one variable|
|Time value of Money||Simple InterestCompound interestDepreciationEffective Rate of InterestPresent ValueNet Present ValueFuture ValuePerpetuityAnnuitiesSinking FundsValuation of BondsCalculating of EMICalculations of Returns|
|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 n terms of special series|
|Sets, Relations and Functions||–|
|Basic applications of Differential and Integral calculus (Excluding the trigonometric applications), Applications of Marginal Cost and Marginal Revenue, etc.,||–|
Part B Logical Reasoning
- Number Series, Coding and Decoding and the odd man out.
- Direction Tests
- Seating Arrangements
- Blood Relations
Part C Statistics
|Statistical description of Data||Diagrammatic representation of data, Frequency distribution, Graphical representation of Frequency Distribution – Histogram, Frequency Polygon, Ogive, Pie-chart|
|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 Mathematical Expectation|
|Theoretical Distributions||Binomial Distribution, Poisson distribution – Basic application and Normal Distribution – Basic applications|
|Correlation and Regression||Correlation and Regression: Scatter diagram, Karl Pearson’s Coefficient of Correlation Rank Correlation, Probable Error and Probable limits. Regression lines, Regression equations, Regression coefficients|
|Index Numbers||Uses of Index Numbers, Problems involved in the construction of Index Numbers, Methods of construction of Index Numbers|
Paper 4: Business Economics and Business and Commercial Knowledge
Paper 4 of CA Foundation exam syllabus 2023 comprises of two parts. We have tabulated ICAI foundation syllabus for both parts below:
Part 1 Business Economics
|Introduction to Business Economics||Meaning and scope of Business EconomicsBasic Problems of an Economy and Role of Price Mechanism.|
|Theory of Demand and Supply||Meaning and determinants of demand, Law of demand and Elasticity of demand ─ Price, income and cross elasticityTheory of consumer’s behavior – Marshallian approach and Indifference curve approachMeaning and determinants of supply, Law of supply and Elasticity of supply.Demand Forecasting|
|Theory of Production and Cost||Meaning and Factors of productionLaws of Production – The Law of Variable proportions and Laws of Returns to Scale, Producer’s equilibriumConcepts of Costs ─ Short-run and long-run costs, Average and marginal costs, Total, fixed and variable costs.|
|Price Determination in Different Markets||Various forms of markets – Perfect Competition, Monopoly, Monopolistic Competition, and OligopolyPrice determination in these markets|
|Business Cycles||Meaning Phases Features. Causes behind these Cycles.|
Part 2 Business and Commercial Knowledge
|Business and Commercial Knowledge – An Introduction||Nature of Business, Profession, and Employment. Objectives of Business. Economic and Non-Economic Activities, Forms of Business Organizations|
|Business Environment||Micro and Macro Environment, Elements of Micro Environment – Consumers/Customers, Competitors, Organization, Market, suppliers, Intermediaries, Elements of Macro Environment – Demographic, Economic, Political-legal, Socio-cultural, Technological, Global Environment|
|Business Organizations||Overview of selected Indian and Global Companies.|
|Government Policies for Business Growth||Policies creating a conducive business environment such as Liberalization, Privatization, Foreign Direct Investment|
|Organizations Facilitating Business||Indian Regulatory Bodies – RBI, SEBI, CCI, IRDAIIndian Development Banks – NABARD|
|Common Business Terminologies||Finance and Stock & Commodity Markets Terminology. Marketing Terminology.Banking Terminology.Other Business Terminology|
CA Foundation Exam Pattern 2023
Along with knowing CA Syllabus Foundation 2023, it is very important for the candidates to know the exam pattern in order to prepare effectively. It enables a candidate to prepare accordingly and manage their time effectively. Below is the exam pattern of the CA Foundation candidates can take a look and it.
|Name of the exam||CA Foundation|
|Conducting body||The Institute Of Chartered Accountants of India (ICAI)|
|Mode of exam||Online|
|Frequency of exam||Conducted twice a year|
|Duration of exam||Paper 1 and 2 – 3 hoursPaper 3 and 4 – 2 hours|
|Question type||Paper 1 and 2 – Subjective Paper 3 and 4 – Objective|
|Marks||100 marks each paper.|
|Marking scheme||Paper 1 and 2 – No negative marking Paper 3 and 4 – ¼ marks deducted for every wrong answer.|
|Medium of exam||English/Hindi(Paper 2 section B in English only.)|
- CA Foundation Admit card 2023 Download
- CA Foundation Eligibility Criteria
- CA Foundation Exam Form 2023 Last Date
- CA Foundation Results 2023
- CA Foundation Exam Centre List 2023
- CA Foundation Registration May 2023
FAQs related to the CA Foundation Syllabus 2023
Where can I find CA syllabus 2023 for Foundation?
The CA Foundation Course syllabus can be found on the official website of ICAI.
Can I download the syllabus free of charge?
Yes, the syllabus is available on the official website free of charge.
Is the CA Foundation exam MCQ based?
Papers 1 and 2 are subjective while Papers 3 and 4 are Objective.