CA Foundation Accountancy Support series

Understand the Fundamentals of Accountancy for the CA Foundation Course

This comprehensive course provides a clear understanding of core accountancy concepts essential for the CA Foundation exam. We break down complex topics into easily digestible lessons, using illustrations and real-world examples to solidify your knowledge.

Course Features:

• Weekly Virtual Whiteboard Video Lectures: Access recorded, in-depth video lectures covering a specific topic each week.
• Concept Explanations & Example Solutions: Each lecture features detailed explanations of accounting concepts, along with step-by-step solutions to practical examples.
• Study at Your Own Pace: Enjoy the flexibility to study anytime, anywhere, fitting your learning around your schedule.

Key Topics Covered (Aligned with Study Material):

• Meaning and Scope of Accounting: Explore the definition and breadth of accounting, understanding its role in business.
• Accounting Concepts, Principles & Conventions: Master fundamental accounting principles including:
  • GAAP (Generally Accepted Accounting Principles)
  • Business Entity Concept
  • Money Measurement Concept
  • Going Concern Concept
  • Accounting Period Concept
  • Cost Concept
  • Revenue Recognition Concept
  • Matching Concept
  • Accrual Basis vs. Cash Basis Accounting
  • Full Disclosure Concept
  • Consistency Concept
  • Conservatism Concept
  • Materiality Concept
  • Objectivity Concept
• Accounting Terms: Gain a strong grasp of essential accounting terminology:
  • Financial Transaction / Business Transaction
  • Voucher
  • Journals
  • Ledger Account
  • Capital
  • Liabilities & Types of Liabilities
  • Assets & Types of Assets
  • Capital Receipts & Revenue Receipts
  • Debtors/Receivables
  • Capital Expenditure & Revenue Expenditure
  • Creditors/Payables
  • Expenses
  • Purchase
  • Stock/Inventory
  • Profit and Loss
• Process of Accounting: Understand the flow of transactions through various accounting books, including journal entries, ledger postings, and trial balance preparation.
• Books of Accounts: Learn about different types of accounting books:
  • Journals
  • Ledgers
  • General Ledgers
  • Subsidiary Books
  • Petty Cash Book
  • Cash Book
• Rectification of Errors: Develop skills to identify and correct common accounting errors.
• Bank Reconciliation Statement: Learn how to reconcile bank statements with internal records.
• Inventories: Understand inventory recording, taking, and various methods for determining inventory cost.
• Depreciation: Explore the concept of depreciation, different calculation methods, and its impact on asset sales.
• Bills of Exchange/Promissory Note Accounting: Learn to account for bills of exchange and promissory notes.
• Sale of Goods on Return Basis & Consignment Sales: Understand the accounting treatment for sales on return and consignment sales from both the consignor and consignee perspectives.
• Average Due Date Calculation: Learn how to calculate and utilize average due dates for efficient credit management.
• Account Current: Understand the concept of account current and various methods for maintaining it.
• Final Accounts of Sole Proprietor (Manufacturing & Non-Manufacturing): Master the preparation of financial statements for sole proprietorships, including adjustments and comprehensive examples.
• Partnership Accounts: Learn how to account for:
  • Admission of a Partner
  • Retirement of a Partner
  • Death of a Partner
  • Financial Statements of Partnership Firms
• Non-Profit Organizations: Understand accounting principles and financial statement preparation for non-profit organizations, covering donations, subscriptions, and other income/expenses.
• Company Accounts – Introduction: Gain an introduction to company accounts, including:
  • Types of Companies
  • Issue, Re-issue, and Forfeiture of Shares
  • Issue of Debentures

Start your journey towards CA success today!