CA Foundation Principles and Practice of Accounting

CA Foundation Syllabus Principles and Practice of Accounting

Paper 1: Principles and Practice of Accounting (100 Marks)

Following are detail CA Foundation Syllabus contents for Paper 1 (Principles and Practice of Accounting):

1. Theoretical Framework

a) Meaning and Scope of accounting
b) Accounting Concepts, Principles and Conventions
c) Accounting terminology – Glossary
d) Capital and revenue expenditure, Capital and revenue receipts, Contingent assets and contingent liabilities
e) Accounting Policies
f) Accounting as a Measurement Discipline – Valuation Principles, Accounting Estimates.
g) Accounting Standards – Concepts and Objectives.
h) Indian Accounting Standards – Concepts and Objectives.

2. Accounting Process

(a) Books of Accounts
(b) Preparation of Trial Balance
(c) Rectification of Errors.

3. Bank Reconciliation Statement

Introduction, reasons, preparation of bank reconciliation statement including accounting for differences.

4. Inventories

Cost of inventory, Net realizable value, Basis and technique of inventory valuation and record keeping.

5. Concept and Accounting of Depreciation

Concepts, Methods of computation and accounting treatment of depreciation, Change in depreciation methods.

6. Accounting for Special Transactions

(a) Bills of exchange and promissory notes
Meaning of Bills of Exchange and Promissory Notes and their Accounting Treatment; Accommodation bills.
(b) Sale of goods on approval or return basis
Meaning of goods sent on approval or return basis and accounting treatment.
(c) 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.
(d) Joint Ventures for non-corporate entities
Meaning and Features of joint venture transactions, Distinction between joint venture and partnership, Methods of maintaining joint venture accounts.
(e) Royalty accounts
Meaning of the term “Royalty” and Accounting Treatment thereof.
(f) Average due Date
Meaning, Calculation of average due date in various situations.
(g) Account Current
Meaning of Account Current, Methods of preparing Account Current.

7. Final Accounts of Sole Proprietors

Elements of financial statements, Closing Adjustment Entries, Trading Account, Profit and Loss Account and Balance Sheet of Manufacturing and Non-manufacturing entities.

8. Partnership Accounts

(a) Final Accounts of Partnership Firms
(b) Admission, Retirement and Death of a Partner including Treatment of Goodwill
(c) Introduction to LLPs and Distinction of LLPs from Partnership.

9. 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.

10. Introduction to Company Accounts

(a) Definition of shares and debentures
(b) Issue of shares and debentures, forfeiture of shares,re-issue of forfeited shares, redemption of preference shares

CA Foundation New Syllabus 2017

CA Foundation New Syllabus 2017 as per ICAI Revised Scheme of Education and Training with effect from July 2017.
The Committee for Review of Education and Training (CRET) of the Institute of Chartered Accountants of India (ICAI) had formulated a New Proposed Scheme of Education and Training in lines with International Education Standards issued by International Federation of Accountants (IFAC) after considering the inputs from various stakeholders.

Chartered Accountancy course 2017

The Revised Scheme of Education and Training for Chartered Accountancy course will come into effect from 1st July, 2017.

Articleship for CA foundation students

examination pattern in Foundation Course
CA Course 

 

list of products exempted under gst

List of items exempted under GST.The Goods and Services Tax (GST) in India was implemented on July 1, 2017. Here is the list of products that are kept outside the purview of GST:-

1. Animal feed
2. Aquatic feed
3. Betel leaves
4. Bread
5. Butter milk
6. Children’s’ picture, drawing or coloring books
7. Coconuts
8. Contraceptives (Condoms)
9. Curd
10. Earthen pot and clay lamps
11. Educational services
12. Eggs
13. Fire wood
14. Fish
15. Fresh fruits
16. Fresh milk
17. Fresh vegetables
18. Gandhi topi
19. Hand operated agriculture equipments
20. Hearing aids
21. Human blood
22. Human hair
23. Indian national flag
24. Indigenous handmade musical instruments
25. Jaggery
26. Judicial, Nonjudicial stamp papers, Court fee stamps
27. Khadi yarn
28. Kumkum, Bindi, Sindur
29. Lassi
30. Live animals
31. Live trees and plants
32. Medical services
33. Municipal waste, sewage sludge, clinical waste
34. Non-alcoholic Toddy, Neera
35. Oraganic manure
36. Pappad
37. Plastic bangles
38. Poultry feed & cattle feed
39. Prasad (sacred food)
40. Printed books, including Braille books and newspaper, periodicals & journals
41. Puffed rice (muri)
42. Puja samagri
43. Raw jute
44. Raw silk
45. Raw wool
46. Salt
47. Semen
48. Slates, Slate pencils and chalk sticks
49. Tender coconut water
50. Unbranded atta (flour) and maida
51. Unbranded besan (gram flour)
52. Unbranded natural honey
53. Unpacked foodgrains (Cereals, pulses)
54. Unpacked paneer
55. Water (other than aerated, mineral, purified)
56. Wood charcoal

CPT Exam Fees

CA CPT Exam Fees for December 2017

Find out CPT exam fees for December 2017 in India & overseas

CA CPT exam fees in India

  • with out late fees

The fees payable for the Common Proficiency Test is ₹1000/- for centres in India,

  • with late fees

The fees payable for the Common Proficiency Test is ₹1600/- for centres in India,

CA CPT exam fees in Nepal

₹1700/- for centres in Kathmandu (Nepal)

 CPT exam fees in overseas

$300/- for centres in Abu Dhabi, Doha, Dubai & Muscat

Applications for admission to CPT

Applications for admission to Common Proficiency Test (CPT) is required to apply on-line at
http://icaiexam.icai.org  

 

CA Couse details

CPT Mock test 2017   

CPT December 2017 exam centres in overseas
CA CPT December 2017 exam centres  in India

CPT December 2017 exam centres in overseas

PLACES OF CA CPT EXAMINATION CENTRES OVERSEAS:
(1) ABU DHABI

(2) DOHA

(3) DUBAI

(4) KATHMANDU

(5) MUSCAT

Applications to CPT Exam

Applications for admission to Common Proficiency Test (CPT) is required to apply on-line at
http://icaiexam.icai.org

CPT exam fees 2017 December

without late fee

from 4 th October, 2017 to 25 th October, 2017 (without late fees) and

with late fee

upto 1 st November, 2017 with late fees of ₹600/-. The exam fees is required to be submitted on-line by using either VISA or MASTER Credit / Debit Card.

Fees to CPT in India

The fees payable for the Common Proficiency Test is ₹1000/- for centres in India,

Fees to CPT in Kathmandu

₹1700/- for centres in Kathmandu (Nepal) and

Fees to CPT in overseas

$300/- for centres in Abu Dhabi, Doha, Dubai & Muscat

CA Course details  
CA CPT Mock Test
CA Final new syllabus

 

CPT December 2017 exam centres

CA CPT December 2017 exam centres  in India

PLACES OF EXAMINATION CPT CENTRES IN INDIA:
1 AGRA
2 AHMEDABAD
3 AHMEDNAGAR
4 AJMER
5 AKOLA
6 ALAPPUZHA
7 ALIGARH
8 ALLAHABAD
9 ALWAR
10 AMBALA
11 AMRAVATI
12 AMRITSAR
13 ANAND
14 ANANTAPUR
15 ASANSOL
16 AURANGABAD
17 BADLAPUR
18 BANSWARA
19 BAREILLY
20 BATHINDA
21 BEAWAR
22 BELGAUM
23 BELLARY
24 BENGALURU
25 BERHAMPORE
26 BHAGALPUR
27 BHARATPUR
28 BHARUCH
29 BHAVNAGAR
30 BHILWARA
31 BHIWANDI
32 BHIWANI
33 BHOPAL
34 BHUBANESWAR
35 BHUJ
36 BIKANER
37 BILASPUR
38 BUNDI
39 BURHANPUR
40 CHANDIGARH
41 CHANDRAPUR
42 CHENNAI
43 CHHINDWARA
44 CHITTORGARH
45 CHURU
46 COIMBATORE
47 CUTTACK
48 DEHRADUN
49 DELHI / NEW DELHI
50 DHANBAD
51 DHULE
52 DURG
53 DURGAPUR
54 ELURU
55 ERNAKULAM
56 ERODE
57 FARIDABAD
58 FATEHABAD
59 FIROZABAD
60 GANDHIDHAM
61 GANDHINAGAR
62 GHAZIABAD
63 GONDIA
64 GORAKHPUR
65 GUNTUR
66 GURGAON
67 GUWAHATI
68 GWALIOR
69 HALDWANI
70 HARIDWAR
71 HISAR
72 HUBLI
73 HYDERABAD
74 ICHALKARANJI
75 INDORE
76 JABALPUR
77 JAIPUR
78 JALANDHAR
79 JALGAON
80 JALNA
81 JAMMU
82 JAMNAGAR
83 JAMSHEDPUR
84 JHANSI
85 JHUNJHUNU
86 JODHPUR
87 JUNAGADH
88 KAITHAL
89 KAKINADA
90 KANNUR
91 KANPUR
92 KARIMNAGAR
93 KARNAL
94 KISHANGARH
95 KOLHAPUR
96 KOLKATA
97 KOLLAM
98 KOTA
99 KOTTAYAM
100 KOZHIKODE
101 KUMBAKONAM
102 KURNOOL
103 LATUR
104 LUCKNOW
105 LUDHIANA
106 MADURAI
107 MALAPPURAM
108 MANDSAUR
109 MANGALORE
110 MAPUSA (GOA)
111 MARGAO (GOA)
112 MATHURA
113 MEERUT
114 MORADABAD
115 MUMBAI
116 MUZAFFARNAGAR
117 MUZAFFARPUR
118 MYSORE
119 NAGPUR
120 NANDED
121 NASHIK
122 NAVI MUMBAI
123 NAVSARI
124 NEEMUCH
125 NELLORE
126 NIZAMABAD
127 NOIDA
128 ONGOLE
129 PALAKKAD
130 PALGHAR
131 PARBHANI
132 PALI MARWAR
133 PANIPAT
134 PANVEL
135 PATIALA
136 PATNA
137 PIMPRI- CHINCHWAD
138 PONDICHERRY
139 PUNE
140 RAIPUR
141 RAJAMAHENDRAVARAM
142 RAJKOT
143 RANCHI
144 RATLAM
145 RATNAGIRI
146 REWA
147 REWARI
148 ROHTAK
149 ROURKELA
150 SAHARANPUR
151 SALEM
152 SAMBALPUR
153 SANGLI
154 SANGRUR
155 SATARA
156 SATNA
157 SHIMLA
158 SHIMOGA
159 SIKAR
160 SILIGURI
161 SIROHI
162 SIRSA
163 SIVAKAS
I 164 SOLAPUR
165 SONEPAT
166 SRI GANGANAGAR
167 SRINAGAR
168 SURAT
169 SURENDRANAGAR
170 THANE
171 THIRUVANANTHAPURAM
172 THRISSUR
173 TINSUKIA
174 TIRUCHIRAPALLI
175 TIRUNELVELI
176 TIRUPATI
177 TIRUPUR
178 TUTICORIN
179 UDAIPUR
180 UDUPI
181 UJJAIN
182 VADODARA
183 VAPI
184 VARANASI
185 VASAI
186 VELLORE
187 VIJAYAWADA
188 VISAKHAPATNAM
189 WARANGAL
190 YAMUNA NAGAR
191 YAVATMAL

CA CPT mock test

Free online CA CPT mock test for December 2017

cpt exam date

  1. cpt exam date for December 2017

Sunday, 17 th December, 2017

the Council of the Institute of Chartered Accountants of India is pleased to announce
that the Common Proficiency Test will be held on Sunday, 17
th December, 2017 in two sessions.

First Session
(i.e. Morning Session)
10.30 AM to 12.30 PM (IST)
Section – A Fundamentals of Accounting
Section – B Mercantile Laws
Second Session
(i.e. Afternoon Session)
2.00 PM to 4.00 PM (IST)
Section – C General Economics
Section – D Quantitative Aptitude

Online Application for admission to CPT

Applications for admission to Common Proficiency Test (CPT) is required to apply on-line at
http://icaiexam.icai.org

CPT Exam fees

from  4th October, 2017 to 25 th October, 2017 (without late fees) andupto 1 st November, 2017 with late fees of ₹600/-. The exam fees is required to be submitted on-line by using either

VISA or MASTER Credit / Debit Card.
The fees payable for the Common Proficiency Test is ₹1000/- for centres in India, ₹1700/- for
centres in Kathmandu (Nepal) and $ 300/- for centres in Abu Dhabi, Doha, Dubai & Muscat

Registration to CPT

The aforesaid Common Proficiency Test (CPT) is open only to students registered with the Institute of Chartered Accountants of India for the Common Proficiency Course on or before 30 th June, 2017 and fulfill the requisite eligibility conditions.

CA CPT Mock Test

caknowledgeclub.com provides online mock tests for CA CPT Exam. Mock Tests are available for Fundamentals of Accounting, Mercantile Laws, General Economics & Quantitative Aptitude.

  • CPT is entry Level Examination for CA course
  • CPT Contains 4 Papers are Fundamentals of Accounting, Mercantile Laws, General Economics & Quantitative Aptitude
  • CPT is objective type examination requiring student to answer 200 Multiple Choice questions (it is similar to MH-CET examination, conducted for Engineering and Medical Profession)
  • CPT Examination is now conducted by ICAI two times a year, in June and December only
  • Next CPT examinations to be held in December 2017,June 2018,December 2018 and June 2019

CPT mock test

consumption based tax

GST is a consumption based tax

GST is a consumption based tax i.e. the tax should be received by the state in which the goods or services are consumed and not by the state in which such goods are manufactured. IGST is designed to ensure seamless flow of input tax credit from one state to another. One state has to deal only with the Centre government to settle the tax amounts and not with every other state, thus making the process easier.

For e.g.: – A dealer in Maharashtra sold goods to the consumer in Maharashtra worth Rs. 10,000. The GST rate is 18% comprising of CGST rate of 9% and SGST rate of 9%, in such case the dealer collects Rs. 1800 and Rs. 900 will go to the central government and Rs. 900 will go to the Maharashtra government.

what is gst tax

goods and services tax

State GST (SGST)

The GST to be levied by the State on intra-State supply of goods and/or services  is State GST (SGST).

Central GST (CGST)

The GST to be levied by the Centre on intra-State supply of goods and/or services is Central GST (CGST)

Integrated GST (IGST)On inter-state supply of goods and services, Integrated GST (IGST) will be collected by Centre.

GST on imports

On imports supply of goods and services, Integrated GST (IGST) will be collected by Centre.

gst tax

gst tax

goods and services tax

State GST (SGST)

The GST to be levied by the State on intra-State supply of goods and/or services  is State GST (SGST).

Central GST (CGST)

The GST to be levied by the Centre on intra-State supply of goods and/or services is Central GST (CGST)

Integrated GST (IGST)

On inter-state supply of goods and services, Integrated GST (IGST) will be collected by Centre.

imports

On imports supply of goods and services, Integrated GST (IGST) will be collected by Centre.

GST is a consumption based tax

GST is a consumption based tax i.e. the tax should be received by the state in which the goods or services are consumed and not by the state in which such goods are manufactured. IGST is designed to ensure seamless flow of input tax credit from one state to another. One state has to deal only with the Centre government to settle the tax amounts and not with every other state, thus making the process easier.

For e.g.: – A dealer in Maharashtra sold goods to the consumer in Maharashtra worth Rs. 10,000. The GST rate is 18% comprising of CGST rate of 9% and SGST rate of 9%, in such case the dealer collects Rs. 1800 and Rs. 900 will go to the central government and Rs. 900 will go to the Maharashtra government.

ca articleship stipend

stipend for ca articles

every CA Student will require to join in CA Firms for doing Articleship. CA firms are paid minimum stipend. Stipends rates are depend upon City/town and year of Articleship.

ca article stipend

Minimum Monthly Stipend

City population                                        1st year      2nd year        3 year

Population of 20 Lakhs & above             2000           2500                3000

Population of 4 Lakhs & Above             1500            2000                  2500

Population less than 4 lakhs                1000             1500                 2000

 

CA Articleship

Find CA Articleship vacancy 

http://www.caknowledgeclub.com/caauditfirm-vacancies

 

 

 

CA cpt syllabus

CPT syllabus

  • CPT Contains 4 Papers are 
  • Fundamentals of Accounting,
  • Mercantile Laws,
  • General Economics &
  • Quantitative Aptitude

CA CPT exam pattern

 

  • CPT is objective type examination requiring student to answer 200 Multiple Choice questions (it is similar to MH-CET examination, conducted for Engineering and Medical Profession)
  • CPT Examination is now conducted by ICAI two times a year, in June and December only
  • Next CPT examinations to be held in December 2017,June 2018,December 2018 and June 2019 only
CPT – Exam

How to pass CPT exam?

  • Student has to obtain minimum 100 marks i.e. 50% of total Marks(200) for passing CPT
  • No Subject wise linkage for passing CPT
  • Negative marking of 0.25 Marks for every incorrect answer
  • Blank answer will fetch Zero marks
CA CPT mock test

caknowledgeclub.com provides online mock tests for CA CPT Exam. Mock Tests are available for Fundamentals of Accounting, Mercantile Laws, General Economics