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Fin. Accounting syllabus
05-17-2010, 01:01 AM
Post: #1
Fin. Accounting syllabus
Somebody please upload the syllabus of CA Fin. Accounting (module B).I couldn't download it from ICAP website.Please copy it here or provide a link.
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05-17-2010, 01:06 AM
Post: #2
Foundation Examinations Introduction to Financial Accounting
The objective of this course is to enable candidates to understand fundamentals of
accounting theory; apply theory to basic financial accounting and prepare accounting
statements of sole proprietorships and partnerships. To develop knowledge and
understanding of financial statements and the techniques used to prepare financial
statements including necessary underlying records.
Note The weightages given above are for guidance purposes only and some deviations in setting of
papers could be expected
1. a) Introduction to business and accounting theory
• Definition and scope of business;
• Economic setup of business;
• Organization structures;
- Sole proprietorship;
- Partnership (its merits and demerits);
- Limited Companies (their advantages and disadvantages);
• Types of finances including
- Long term finance;
- Short term finance;
• Commercial Banks;
• Stock Exchange
• Insurance Companies;
• Procurement and production of goods;
• Marketing and sales;
• Marketing channels;
1. Introduction to business and accounting theory 10
2. Financial accounting practices 35
3. Receipt and payment accounts, income and expenditure accounts
and preparation of accounts from incomplete records
4. Other specialized areas 35
Foundation Examinations Introduction to Financial Accounting
- Sole Distributors;
- Wholesalers and;
- Retailers.
b) Accounting Theory
• Fundamental accounting concepts including
- Accrual basis
- Consistency
- True and fair view
- Materiality
- Prudence
- Completeness
- Going Concern
- Substance over form
• Financial statements;
- Components
- Responsibility
- Presentation
- Users of financial statements;
• Asset valuation alternatives;
- Historical cost;
- Fair value;
- Net realizable value;
- Replacement cost;
2. Financial accounting practices
Accounting Records
• Petty cash book and imprest system;
• Cash books (including transactions with banks and their
• Sales journal and the sales ledger;
• Purchase journal and the purchase ledger;
• General journal;
• General ledger
• Computerized Accounting
Introduction to Double Entry
• Double entry System, Accounting Equation and Rules of Debit &
Foundation Examinations Introduction to Financial Accounting
• Concept of capital and revenue expenditure;
• Concept of liability and income
• Effect of profit or loss on capital;
• Balancing of accounts;
• Trial balance;
Adjustments before Final Accounts
• Methods and recording of depreciation on Fixed Assets;
• Provisions for bad debts/ write off;
• Provisions for discounts on debtors;
• Prepayments and accruals;
• Inventory adjustments
• Bank reconciliation and related adjustments;
• Control accounts reconciliation and adjustments
• Errors in trial balance
• Suspense accounts
• Other adjustments;
The Final Accounts of Sole Traders & Partnership
• Balance sheets;
• Manufacturing, Trading and profit and loss accounts (Income
• Cash Flows Statements
3. Receipt and payment accounts and accounts from incomplete records
• Receipt and payment accounts;
• Income and expenditure accounts;
• Preparation of accounts from incomplete records.
4. Other specialized areas
a) Accounting for inventories (IAS-2)
• Cost formulas (LIFO/ FIFO/ weighted average cost);
• Cost of inventories (cost of purchase, cost of conversions, other
• Measurement of inventories (lower of cost or Net realizable value);
• Presentation of inventories in financial statements.
Note (Cost Accounting techniques will not be tested at this stage)
b) Accounting for property, plant and equipment (IAS-16)
• Initial measurement of property, plant & equipment (components
of cost, exchange of assets);
Foundation Examinations Introduction to Financial Accounting
• Subsequent costs;
• Depreciation – Unit of measure, depreciable amount, depreciation
period and depreciation method
• Derecognition
c) Branch accounts (excluding foreign branches);
d) Treatment of the following in partnership accounts
• Admission;
• Retirement / death of partner (excluding life insurance policies,
annuities etc);
• Goodwill.
Note (s)
Reference to IAS shall be deemed to have been changed whenever the same is
replaced by a new reporting standard.
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05-17-2010, 01:17 AM
Post: #3
Thanks A.A
1)could you please tell the paper patern of same paper?
2)secondly I am new to CA.I shall get English exempted(I also have more than 75% marks in Math but someone told that its course doesn't match with CA QMT).I plan to appear in next March exams.How many papers should I take?Just QMT or more?
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05-17-2010, 02:47 AM
Post: #4
Welcome.You can download the past papers from here which will tell you about the paper pattern.Ask somebody knowledgeable at a RAET to confirm about the exemption or call ICAP.To get an exemption,you have to have at least 75% marks in that subject as well as at least 75% match of course content.Why aren't you giving exams in September?Technically,1 subject seems a bit too easy.Now that there is no lapse policy,you can give any number of papers in A and B though you shouldn't take more than 2 for your first attempt.So if you are a hard worker and good in studies,you can take 1 paper from B alongwith QM.Most people I know have difficultly in passing Economics or Accounting so Mercantile Law seems a safer bet.But again,you are really the best judge of how capable you are in this because I can not blindly advise without knowing the type of student you are,especially considering the fact that this would be your first CA attempt so different from your previous experiences in studies.I personally would have taken at least 2 subjects.In fact,I wanted to do both A and B together but couldn't due to class schedule conflicts.You have already done Maths(like I had)so only Statistics would have to be studied.Beware though that there are 6 attempts to pass each module and if you give one paper from B,I believe that the counting of your attempts will begin.
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05-17-2010, 03:34 AM
Post: #5
Thanks A.A
Actually I am appearing in Bcom part 1 exams in June so after that only 3 months would be left for September attempt so I chosed March attempt.
Actually the above syllabus of accounting is quite similar to Bcom accounting(I have used M A Ghani's book).So I was planing to appear in QMT and accounting.But I shall look at law(law is in bcom 2 so I have not read it yet).
Are you CA qualified?
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05-17-2010, 04:25 AM
Post: #6
Welcome.No I have got one paper left in CA-Inter..still a long journey.And 3 months is huge time for just Statistics.Give Mod A QM in September and complete Mod B in March.That would be the best thing to do.Only Financial Math portion would be new for you in the 50 mark math portion,the rest you have already done in FSc.And in QM,probability portion is considered a part of Statistics so you know that too.If you aren't too late to register with ICAP for September,do so immediately and give QM in September.And then after your done with BCOM,join classes or tuition for Statistics and Maths(especially financial portion).Even on the basis of very strong Math,you can pass the QM paper and you'll have 3 months to prepare Stats too.
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05-17-2010, 05:03 AM
Post: #7
Thanks A.A
I have covered Bcom Math and Stat course so I have some knowledge of stat also(but in Bcom selective study also works so I don't have sound grip over stat).I am not registered with Icap yet.I shall try to get registered as soon as possible.
Best of luck for your remaining CA papers and articles.
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05-17-2010, 07:17 AM
Post: #8
Thank you.That's even great.You'll just have to strengthen your knowledge of stuff you have already been through once to some extent.And since you have also studied stats,you might be able to get the exemption for QM because students who have done I.Com with at least 75% marks can get exemptions in English,QM and Economics(I know because a junior in my institute has both QM and Economics exempt).Call ICAP and ask about registration and exemptions.Good luck!
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