CA Foundation syllabus 2021 applicable for May/Nov 2021 Exams

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The Institute of Chartered Accountants of India (ICAI) has published the revised new syllabus for Chartered Accountancy (CA) Foundation level examinations to be held in the month of May/June 2021 and November/December 2021.

ICAI changes CA Foundation syllabus 2021 for the coming May and Nov term of examinations. You may download the entire syllabus in PDF format for each and every subjects of CA Foundation course. The Revised Scheme of Education and Training for Chartered Accountancy course comes into effect from 1st July, 2017.

The Committee for Review of Education and Training (CRET) of ICAI had formulated a New Scheme of Education and Training for 2021 exams. New syllabus are in lines with international education standards issued by International Federation of Accountants (IFAC).

ICAI exam form for CA students are available two times in a year for May term and Nov term of examinations. CA Institute recently announced for the latest updates and amendments applicable for CA Foundation exams.

Most of candidates are preparing for foundation exams in English medium. However, if you are interested for appearing in Hindi language, the Foundation study material is also available in Hindi medium.

If you have any query regarding CA Foundation course, you may ask the same from officials of your nearest ICAI branch. Read some relevant FAQs on Revised Scheme of Education and Training for CA Course. ICAI has now provided the detail contents of CA Foundation course syllabus which has been sited below:

ICAI Foundation Course Syllabus 2021

ICAI has presented each topic of the syllabus in a lucid manner. If you are registered in CA course on or before 1st January, 2021 then you are eligible to appear in May/June, 2021 exams.

Candidates registering between 02.01.2021 to 01.07.2021 are eligible for appearing in CA Foundation Nov 2021 examinations. Note that 4 months study period is required before appearing in Foundation Examination.

Principles and Practice of Accounting

CA Foundation Paper-1 syllabus 2021 (100 Marks): The syllabus of first paper has been divided into ten chapters, each addressing to a special aspect of accounting. The entire syllabus has been designed to develop an understanding of the basic concepts and principles of Accounting. You will be able your knowledge in preparing financial statements and simple problem solving.

The study material has been bifurcated into two modules for easy handling and convenience of students. Module-I covers chapters 1 to 6 and Module-II contains chapters 7 to 10 as shown in the Table below.

Chapters No. Chapters Name
Module-I
1. Theoretical Framework
2. Accounting Process
3. Bank Reconciliation Statement (BRS)
4. Inventories
5. Concept and Accounting of Depreciation
6. Accounting for Special Transactions
Module-II
7. Preparation of Final Accounts of Sole Proprietors
8. Partnership Accounts
9. Financial Statements of Not-for-Profit Organizations (NPO)
10. Company Accounts
CA Foundation Paper-1 syllabus for May/Nov 2021 exams

Detail chapter wise syllabus of Paper-1 has been discussed below:

Chapter-1: Theoretical Framework

  1. Meaning and Scope of Accounting
  2. Accounting Concepts, Principles And Conventions
  3. Accounting Terminology – Glossary
  4. Capital And Revenue Expenditures and Receipts
  5. Contingent Assets and Contingent Liabilities
  6. Accounting Policies
  7. Accounting as a Measurement Discipline – Valuation Principles, Accounting Estimates
  8. Accounting Standards
  9. Indian Accounting Standards (Ind AS)

Chapter-2: Accounting Process

  1. Basic Accounting Procedures – Journal Entries
  2. Ledgers
  3. Trial Balance
  4. Subsidiary Books
  5. Cash Book
  6. Rectification of Errors

Chapter-3: Bank Reconciliation Statement

Chapter-4: Inventories

Chapter-5: Concept and Accounting of Depreciation

Chapter-6: Accounting for Special Transactions

  1. Bill of Exchange and Promissory Notes
  2. Sale of Goods on Approval or Return Basis
  3. Consignment
  4. Average Due Date
  5. Account Current

Chapter-7: Preparation of Final Accounts of Sole Proprietors

  1. Final Accounts of Non-Manufacturing Entities
  2. Final Accounts of Manufacturing Entities

Chapter-8: Partnership Accounts

  1. Introduction to Partnership Accounts
  2. Treatment of Goodwill in Partnership Accounts
  3. Admission of a New Partner
  4. Retirement of a Partner
  5. Death of a Partner

Chapter-9: Financial Statements of Not-for-Profit Organizations

Chapter-10: Company Accounts

  1. Introduction to Company Accounts
  2. Issue, Forfeiture and Re-Issue of Shares
  3. Issue of Debentures

Business Laws and Business Correspondence and Reporting

CA Foundation Paper-2 syllabus 2021 (Section-A 60 Marks and Section-B 40 Marks): An understanding of significant provisions of select business laws and acquire the ability to address basic application oriented issues.

The main objective of BCR (Business Correspondence and Reporting) is to acquire and develop good communication skills requisite for business correspondence and reporting.

Chapters No. Chapters Name
Section-A Business Laws (BL) – 60 Marks
1. The Indian Contract Act, 1872
2. The Sale of Goods Act, 1930
3. The Indian Partnership Act, 1932
4. The Limited Liability Partnership Act, 2008
5. The Companies Act, 2013
Section-B Business Correspondence and Reporting (BCR) – 40 Marks
1. Communication
2. Sentence Types and Direct-Indirect, Active-Passive Speech
3. Vocabulary
4. Comprehension Passages
5. Note Making
6. Introduction to Basics of Writing
7. Precis Writing
8. Article Writing
9. Report Writing
10. Writing Formal Letters and Official Communication
11. Writing Formal Mails
12. Resume Writing
13. Meetings
CA Foundation Paper-2 syllabus for May/Nov 2021 exams

Business Mathematics and Logical Reasoning & Statistics

CA Foundation Paper-3 syllabus 2021 (Part-A 40 Marks, Part-B 20 Marks and Part-C 40 Marks): The objective is to develop an understanding of the basic mathematical and statistical tools and their application in Business, Finance and Economics. You will be able to develop logical reasoning skills and apply the same in simple problem solving.

Chapters No. Chapters Name
PART-A Business Mathematics – 40 Marks
1. Ratio and Proportion, Indices, Logarithms
2. Equations and Matrices
3. Linear Inequalities
4. Time Value of Money
5. Basic Concepts of Permutations and Combinations
6. Sequence and Series – Arithmetic and Geometric Progressions
7. Sets, Functions and Relations
8. Basic Concepts of Differential and Integral Calculus
PART-B Logical Reasoning – 20 Marks
9. Number Series, Coding and Decoding and Odd Man Out
10. Direction Tests
11. Seating Arrangements
12. Blood Relations
13. Syllogism
PART-C Statistics – 40 Marks
14. Statistical Description of Data
15. Measures of Central Tendency and Dispersion
16. Probability
17. Theoretical Distributions
18. Correlation And Regression
19. Index Number and Time Series
CA Foundation Paper-3 syllabus for May/Nov 2021 exams

Business Economics and Business and Commercial Knowledge

CA Foundation Paper-4 syllabus 2021 (Part-I 60 Marks and Part-II 40 Marks): Business Economics has been introduced at the Foundation level of the revised CA course. It has been developed keeping in mind the fact that CAs now a days have to take up the role of not merely an accountant or auditor, but a business solution provider.

BCK (Business and Commercial Knowledge) main objective is to develop an understanding of common business and commercial concepts and to keep abreast with developments in the business and commercial world.

Chapters No. Chapters Name
PART-I Business Economics – 60 Marks
1. Nature & Scope of Business Economics
2. Theory of Demand and Supply
3. Theory of Production and Cost
4. Meaning and Types of Markets
5. Business Cycles
PART-II Business and Commercial Knowledge – 40 Marks
1. Business and Commercial Knowledge – An Introduction
2. Business Environment
3. Business Organizations
4. Government Policies for Business Growth
5. Organizations Facilitating Business
6. Common Business Terminologies
CA Foundation Paper-4 syllabus for May/Nov 2021 exams

You may download CA Foundation study material applicable for May 2021 and Nov 2021 examinations from official website of ICAI.

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