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Paper 1 :

Principles and Practice of Accounting

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Principles and Practice of Accounting

Series 1
01  Theoretical Framework

 

2 Lectures                Know More

02  Accounting Process

 

 14 Lectures                Know More

03 Bank Reconciliation Statement

 

11 Lectures                  Know More

04  Inventories

 

3 Lectures                Know More

05 Concept and Accounting of Depreciation

 

6 Lectures                Know More

06  Accounting for Special Transactions

 

19 Lectures                Know More

07  Preparation of Final Accounts of Sole Proprietors

 

7 Lectures                Know More

08  Partnership Accounts

 

22 Lectures                Know More

09  Financial Statements of Not-for-Profit Organizations

 

9 Lectures                Know More

10  Company Accounts

 

8 Lectures                Know More

About Practice of Accounting

 

This is the main area of Chartered accountancy course. This paper, i.e., Principles and practice of accounting (also referred as fundamentals of accounting or accounts) gives a basic framework or set of rules followed in accounting. Globally accepted accounting principles are given at one place in a basic form. The very name of the CA course includes Accountant in it. This signifies the requirement of knowledge of accounting from the 1st level itself.

Principles and Practice of Accounting focuses on providing basic conceptual knowledge of Accounting for preparation of Financial statements, computing accounting ratios and solving simple problems. This paper is intended to give all of you, the upcoming chartered ‘ACCOUNTANCY’ students with a strong foundation helping to enhance your studies in further levels.
The topics covered in this paper is,
  • Theoretical Framework, Accounting process, bank reconciliation statement, Inventories, Depreciation
  • Special transactions such as consignment, Joint venture, Bills of exchange, Royalties, Average due date and account current
  • Final Accounts of Sole Proprietors, Partnership accounts, Introduction to company accounts and
  • Basic Accounting ratios

The best approach to study Principles and Practice of Accounting

  • Accounting is a scoring subject at CA Foundation level. Practice well to score well ii. Solve a good number of problems
  • Understanding the concepts thoroughly helps you to solve any kind of problem
  • Syllabus is reasonably huge so, only way to remember everything is by repetitive revision
  • Presentation is important but not as much as it was in your +2 level

       Practice the problems; do NOT JUST READ!

Faculty

CA Rochelle D'sa
CA Rochelle D'sa
CA Malaya Panda
CA Malaya Panda

Resources

Question Paper Nov 2020
Question Paper Jan 2021

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