CA Foundation is the course to enter into the CA profession for students through the foundation route. Earlier CA foundation course was popular with the name CA CPT Examination which means common-proficiency-test. The variation is because of the addition of the new subjects. CA Foundation new syllabus 2021 is the change of Business Law in the place of mercantile law. Business mathematics is the other subject which in place quantitative aptitude. Previously the CA foundation subjects are evaluated through an objective type of answers, but now the question paper has subjective and objective questions.
Business correspondence and business economics constitute a subjective type of answers. Business mathematics is an objective-based question paper with mark allocation as 40 marks for Business mathematics, 20 marks for Logical reasoning, and 40 marks for Business statistics. Twelfth standard mathematics and CA foundation mathematics have an overlapping syllabus with a percentage of sixty per cent. Because of this extra coverage, students should practice more for CA. Principles of accounting, Business correspondence and Business economics consist of a subjective type of questions that can be handled with ample preparation from various learning sources. This blog is to help the fresh-minded students who enter into the Chartered accountancy course through the foundation route.
Subjective type of questions
The idea behind the subjective type of questions is to get the knowledge of business correspondence and get the habit of writing concise answers. The article writing, letter writing, mail correspondence, report writing, and resume writing are the models which enhance the knowledge of vocabulary, preposition, and basic writing. LLP is a crucial topic for auditors. The combination of partnership firm and corporate model is profitable for the auditing firms. It is essential to understand the model of LLP and the tax applicability of the LLP model for auditors. Company law is another crucial subject that becomes essential if there is a change or dispute inside the Companies. So, auditors having the fundamental knowledge on these topics initiates the commercial way of thinking to the auditors.
Objective type of questions
Mathematics and Business economics have the objective type of questions. As the questions are objective type it has negative marking and it is wise to work on all the chapters. More weightage is given to Time management, but it is essential to prepare with all the chapters. If the student desires to be one among the coveted AIR holder then it is essential to read completely and precisely. The business environment is the new subject that details the microenvironment and macro environment. The microenvironment is about competitors, customers and the market. The macro-environment is about global and technological advancement. The microenvironment is essential to enhance profit whereas the macro environment is essential to implement the new inventions. Innovation and profitability both are the pillars of modern-day business. By learning terminologies in marketing, finance and business students get a better understanding of them in all the subjects. Objective type of questions lays the foundation for the deep knowledge base which chartered accountants supposed to have.
Which is better: CPT or CA Foundation?
CPT Vs CA Foundation is an obsolete question because the change is as per the demand of the commercial market. Is the CA foundation syllabus is same every year? Is the next question that cracks the mind of the students? The answer is the change is periodical and not with every year. CA foundation gives weightage to the subjective type of answers and objective type of answers. But CPT is based on objective type questions only. CA Foundation is tough than CPT. When correcting answers, the examiners are provided with the key answers which differentiate important points and unimportant points. So, it is essential to focus on the key points and also the word count. For subjective answers quality and quantity, both are essential. When writing the 12th standard, students learn the basics of accounting which makes the first paper of principles of accounting as easy. The second paper Business correspondence is easy for students with good English knowledge. Mathematics is a familiar subject to 12th standard students. Logical reasoning and statistics make the subject more interesting. So, if the student has an interest in the commerce group 11th and 12th standard syllabus, then passing the CA foundation is like a cakewalk to them. Hard work is the only thing that they initially put in.
RR Academy crash course and foundation classes are designed in such a way to manage the schedule with other courses. The Foundation level requires a preparation plan and confidence. One has to analyse the strength and weakness to know where they went wrong for securing fewer marks. This part is the realization part that makes the journey of learning chartered accountancy successful.