Principles and Practice of Accounting is not just 1st paper in CA Foundation for the 1st one for the whole CA journey. Charted accountants are known for their proficiency in accounting and if you are a charted accountancy student it is vital to ponder over the accounting concepts and implement them in practical situations. 80-95% of the examination questions are going to be the application of the concepts you have learned during your foundation course.

If you are a commerce student, you would be learning accountancy since your class 11 but the difficulty level in the foundation level will be very much higher when compared to class 11&12th accountancy. So, it is important to revise and practice the concepts and problems as much as you can so that you can be confident about the exam.

On the other hand, if you are from non-commerce background or are learning accountancy for the first time you should be more cautious and put more effort into the preparation and ensure that you understand all concepts and are able to solve them without any impasse.

Theoretical Framework: This chapter briefly discusses the valuation principles of accounting and how accounting estimates are calculated following the prescribed accounting standards or Indian accounting standards.

Accounting Process: This chapter expounds the entire accounting process from the occurrence of the transaction or event to the preparation of the trial balance and rectifying them. The basic accounting process begins with recording journal entries about the occurred transaction or event.

Bank Reconciliation Statement: This chapter talks about the bank reconciliation statement. Which includes an Introduction to bank reconciliation statements, reasons for preparation of bank reconciliation statements,s and finally the preparation of bank reconciliation statements.

Accounting for Special Transactions: This chapter discusses accounting treatment for various special transactions in books of accounts. The special transactions include accounting for bills of exchange and promissory notes, the accounting treatment for goods sent on an approval or return basis, and accounting treatment when the organization is involved in the consignment business.

The only way anyone can master accounting is by the mere practice of the CA Foundation Mock Test Series. So, it is very important for students to get a depth understanding of the topics covered in institutes' study modules.

Once you practice all the questions given in your modules you can start testing yourself by doing revision test papers (RTPs) and CA Foundation Test Series which are hosted on the institute’s website along with the answers. Finally, at least one month before the exam you should solve all previous question papers to test yourself for the final time and to gain confidence in your preparation.

We would also suggest making self-prepared notes for your future reference as it has been prepared by yourself you can grasp the whole topic just in seconds when you refer to the notes later, especially at the time of exams. One last suggestion would be to make a timetable so that you will be able to set deadlines and track the progress of your study but do not waste so much time preparing the timetables.