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Paper 1 of 4

Principles & Practice of Accounting

Covers journal entries, ledger, trial balance, final accounts, depreciation, partnership and company accounts as per ICAI syllabus.

Exam Pattern

100

Total Marks

180 min

Duration

Subjective (Descriptive)

Question Type

728

Total Questions

0

Negative Marking

40%

Passing Marks

Detailed Syllabus

Complete topic-wise breakdown as per ICAI curriculum. Chapter weightage is an estimate based on recent ICAI exam trends and may vary per attempt.

Theoretical Framework

~15% of paper marks

•Meaning and Scope of Accounting~5%
•Accounting Concepts, Principles and Conventions~5%
•Capital and Revenue Expenditure/Receipts~5%

Accounting Process

~35% of paper marks

•Recording Transactions~5%
•Subsidiary Books~5%
•Books of Original Entry~5%
•Cash Book~5%
•Ledger~5%
•Trial Balance~5%
•Rectification of Errors~5%

Bank Reconciliation Statement

~25% of paper marks

•Causes~5%
•Preparation~5%
•Adjusted CB~5%
•Meaning & Need~5%
•BRS: Practical Problems~5%

Inventories

~30% of paper marks

•FIFO~5%
•LIFO~5%
•Weighted Avg~5%
•Inventories: Meaning & Basics~5%
•Inventories: Other Methods~5%
•Inventories: Practical Problems~5%

Depreciation and Amortisation

~40% of paper marks

•SLM~5%
•WDV~5%
•Accounting~5%
•Disposal~5%
•Amortisation~5%
•Depreciation: Meaning & Basics~5%
•Depreciation: Other Methods~5%
•Depreciation: Practical Problems~5%

Bills of Exchange and Promissory Notes

~45% of paper marks

•Terms~5%
•Drawer Entries~5%
•Drawee Entries~5%
•Dishonour~5%
•Renewal~5%
•Retiring~5%
•Accommodation~5%
•Insolvency~5%
•Bills of Exchange: Meaning & Basics~5%

Final Accounts of Sole Proprietors

~30% of paper marks

•Trading A/c~5%
•P&L A/c~5%
•Adjustments~5%
•Final Accounts (Sole Proprietor): Introduction~5%
•Final Accounts (Sole Proprietor): Balance Sheet~5%
•Final Accounts (Sole Proprietor): Practical Problems~5%

Financial Statements of Not-for-Profit Organizations

~50% of paper marks

•R&P A/c~5%
•I&E A/c~5%
•Subscriptions~5%
•Donations~5%
•Entrance Fees~5%
•Legacy~5%
•Life Membership~5%
•NFP Accounts: Balance Sheet~5%
•NFP Accounts: Introduction~5%
•NFP Accounts: Practical Problems~5%

Accounts from Incomplete Records

~40% of paper marks

•Statement of Affairs~5%
•Conversion Method~5%
•Debtors A/c~5%
•Creditors A/c~5%
•Bills~5%
•Cash/Bank~5%
•Incomplete Records: Introduction~5%
•Incomplete Records: Practical Problems~5%

Partnership and LLP Accounts

~40% of paper marks

•Capital A/c~5%
•P&L Appropriation~5%
•Admission~5%
•Retirement~5%
•Death~5%
•Dissolution~5%
•Partnership & LLP: Introduction~5%
•Partnership & LLP: Practical Problems~5%

Company Accounts

~45% of paper marks

•Share Capital~5%
•Issue of Shares~5%
•Oversubscription~5%
•Calls~5%
•Forfeiture~5%
•Re-issue~5%
•Debentures~5%
•Company Accounts: Introduction~5%
•Company Accounts: Practical Problems~5%

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Paper 1: Accounting
Paper 2: Business Laws
Paper 3: Quant & Stats
Paper 4: Economics

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