
<p class="wp-block-paragraph"> Hello Dear CA Students,</p>



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p class="wp-block-paragraph"><em>We are Sharing With You CA foundation Accounts New Syllabus Study Material Compilation for May 2024 onwards Paper-1: Accounting . So kindly Check Out our www.castudynotes.com website and ALL the Best for Your upcoming Exams.</em></p>
<cite>CA STUDY NOTES</cite></blockquote>


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<h1 class="wp-block-heading">PAPER 1: ACCOUNTING (100 MARKS)</h1>



<h3 class="wp-block-heading">Objective</h3>



<p class="wp-block-paragraph">To develop an understanding of the basic concepts and principles of accounting and apply the same inpreparing financial statements and simple problem solving.</p>



<h3 class="wp-block-heading">Contents</h3>



<ol class="wp-block-list">
<li><strong>Theoretical Framework</strong>
<ol class="wp-block-list">
<li>Meaning and Scope of Accounting.</li>



<li>Accounting concepts, principles and conventions.</li>



<li>Capital and revenue expenditure, capital and revenue receipts, contingent assets and contingentliabilities.</li>



<li>Accounting policies.</li>



<li>Accounting as a measurement discipline – valuation principles, accounting estimates.Accounting Standards – concepts and objectives.</li>
</ol>
</li>
</ol>



<p class="wp-block-paragraph"></p>



<h3 class="wp-block-heading">Accounting Process</h3>



<ol class="wp-block-list">
<li>Recording accounting transactions: principles of double entry book- keeping, books of originalentry – journal, subsidiary books, cash book, ledger-format, posting from journal and subsidiary books, balancing of accounts.</li>



<li>Preparation of trial balance.</li>



<li>Rectification of errors.</li>
</ol>



<p class="wp-block-paragraph"></p>



<h3 class="wp-block-heading">Bank Reconciliation Statement</h3>



<p class="wp-block-paragraph">Introduction, reasons and preparation of bank reconciliation statement.</p>



<h3 class="wp-block-heading">Inventories</h3>



<p class="wp-block-paragraph">Meaning, basis and technique of inventory valuation, cost of inventory, net realizable value and recordsystem.</p>



<h3 class="wp-block-heading">Depreciation and Amortisation</h3>



<p class="wp-block-paragraph">Tangible and intangible assets-Meaning and difference, concepts, methods of computation and accounting treatment of depreciation / amortisation, change in depreciation method.</p>



<h3 class="wp-block-heading">Bills of exchange and Promissory notes</h3>



<p class="wp-block-paragraph">Meaning of bills of exchange and promissory notes and their accounting treatment; accommodationbills.</p>



<h3 class="wp-block-heading">Preparation of Final accounts of Sole Proprietors</h3>



<p class="wp-block-paragraph">Elements of financial statements, closing adjustment entries, trading account, profit and loss account and balance sheet of manufacturing and non- manufacturing entities.</p>



<h3 class="wp-block-heading">Financial Statements of Not-for-Profit Organizations</h3>



<p class="wp-block-paragraph">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.</p>



<h3 class="wp-block-heading">Accounts from Incomplete Records (excluding preparation of accounts based on ratios).</h3>



<ol class="wp-block-list">
<li><strong>Partnership and LLP Accounts</strong>
<ol class="wp-block-list">
<li>Final accounts of partnership firms and LLPs.</li>



<li>Admission, retirement and death of a partner including treatment of goodwill.</li>



<li>Dissolution of partnership firms and LLPs including piecemeal distribution of assets.</li>
</ol>
</li>
</ol>



<h3 class="wp-block-heading">Company Accounts</h3>



<ol class="wp-block-list">
<li>Definition of shares and debentures.</li>



<li>Issue of shares and debentures, forfeiture of shares, re-issue of forfeited shares.</li>



<li>Redemption of preference shares and debentures (excluding purchase and redemption of owndebentures and sinking fund method).</li>



<li>Accounting for bonus issue and right issue.</li>
</ol>



<p class="wp-block-paragraph"></p>



<h2 class="wp-block-heading has-electric-grass-gradient-background has-background"><a href="https://castudynotes.com/wp-content/uploads/2023/07/CA-Foundation-Paper-1-Accounts-Study-Material-New-Syllabus-castudynotes-com.pdf" target="_blank" rel="noreferrer noopener"><strong>Download Accounts Foundation Study Material PDF</strong></h2>



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