FAA ACCOUNTANCY PLAN — 30 marks, chapter by chapter
💰 FAA ACCOUNTANCY — The 30-Mark Plan
Every chapter ranked · what to learn · what to expect
Section: Accountancy & Book Keeping · 30 of 120 marks (25%) · 27 chapters · 600 MCQs · 2 solved papers. Companion: overall strategy lives in FAA-MASTER-PLAN — this file is accountancy only, in depth.
It is the largest single block tied with GK — but unlike GK it is finite and closed. The syllabus is one book, the question bank is 600 MCQs, and two real papers show exactly what gets asked. GK can ask you anything. Accountancy cannot. This is the most controllable 30 marks on the paper — target 24+/30.
PART 1 — Where the 30 marks actually came from
| Chapter | 2022 (Q81–110) | 2024 (Q31–60) | Total | MCQs | Trend |
|---|---|---|---|---|---|
| Ch 5 Double Entry & Journal | 7 | 0 | 7 | 34 | ⚡ volatile |
| Ch 15 Bank Reconciliation | 2 | 4 | 6 | 37 | 🔺 rising |
| Ch 2 Basic Terms | 5 | 1 | 6 | 28 | ✅ steady |
| Ch 16 Partnership | 2 | 3 | 5 | 34 | 🔺 rising |
| Ch 23 Taxation | 0 | 5 | 5 | 100 | 🔺 new & heavy |
| Ch 12–14 Final Accounts | 6 | 0 | 6 | 44 | ⚡ volatile |
| Ch 17 Single Entry | 2 | 1 | 3 | 20 | ✅ steady |
| Ch 24/25 Costing & Budgeting | 0 | 3 | 3 | 50 | 🔺 new |
| Ch 3 Concepts | 1 | 2 | 3 | 47 | ✅ steady |
| Ch 22 PFMS | 2 | 1 | 3 | ~3 | ✅ steady |
| Ch 4 Accounting Equation | 1 | 1 | 2 | 15 | ✅ every year |
| Ch 19 Financial Audit | 1 | 1 | 2 | 19 | ✅ every year |
| Ch 6 Voucher | 1 | 2 | 3 | 6 | ✅ steady |
| Ch 1 Introduction | 1 | 1 | 2 | 24 | ✅ every year |
| Ch 7 Ledger | 0 | 2 | 2 | 19 | ✅ steady |
| Ch 10 Trial Balance | 0 | 1 | 1 | 22 | ✅ steady |
| Ch 18 Financial Mgmt | 0 | 2 | 2 | 4 | ⚠️ formulas missing |
| Ch 26 IFMS | 0 | 1 | 1 | ~10 | ✅ steady |
The paper changed shape between the two years.
- 2022 = a fundamentals paper → Ch 2 + Ch 5 + Final Accounts = 18 of 30
- 2024 = an applied-finance paper → Taxation 5 + BRS 4 + Costing 3 = 12 of 30, and Ch 5 + Final Accounts scored ZERO
Do not gamble on one shape.
- Your floor = the steady chapters that appear every year: Ch 15, 16, 17, 22, 3, 4, 19, 1, 6, 7 ≈ 17–20 marks available regardless of which shape the paper takes.
- Your upside = the volatile pair: Ch 5 (7 marks) and Final Accounts (6 marks). When they show up they are huge; when they don't, they're zero. Strategy: lock the floor first, then buy the upside.
PART 2 — Priority tiers & time budget
Assume ~55 study hours for accountancy across 11 weeks (≈ 5 hrs/week).
🔴 TIER A — the floor (22 hrs) · do these first, no exceptions
| Ch | Chapter | Hrs | Why |
|---|---|---|---|
| 15 | Bank Reconciliation | 5 | 6 marks · rising · 37 MCQs · most reliable chapter in the book |
| 16 | Partnership Accounts | 5 | 5 marks · rising · numericals repeat in form |
| 2 | Basic Accounting Terms | 3 | 6 marks · pure definitions · fastest return |
| 5 | Double Entry & Journal | 5 | 7 marks in 2022 · underpins every other chapter |
| 3 | Accounting Concepts | 2 | 3 marks · contains the most-repeated question in the paper |
| 4 | Accounting Equation | 1 | 2 marks · appears every year · one formula |
| 22 | PFMS | 1 | 3 marks for a 7-page chapter — the best ratio in the book |
🟠 TIER B — the growth area (16 hrs)
| Ch | Chapter | Hrs | Why |
|---|---|---|---|
| 23 | Taxation (Direct + GST) | 8 | 5 marks in 2024 · 100 MCQs · ⚠️ see Part 5 — the law changed |
| 24 | Cost Accounting | 4 | 3 marks · prime cost & marginal costing are formulaic |
| 25 | Budgetary Control | 2 | pairs with Ch 24 · definitions only |
| 17 | Single Entry | 2 | 3 marks · statement of affairs is a repeat question |
🟡 TIER C — the reliable singles (10 hrs)
Ch 1 Introduction (1) · Ch 6 Voucher (1) · Ch 7 Ledger (1.5) · Ch 10 Trial Balance (1.5) · Ch 19 Audit (1.5) · Ch 12–14 Final Accounts (3.5) Each gives 1–2 marks nearly every year. Cheap, fast, and Final Accounts is your volatile upside.
🟢 TIER D — skim only (7 hrs)
Ch 8 Subsidiary Books · Ch 9 Cash Book · Ch 11 Financial Statements · Ch 18 Financial Mgmt · Ch 20 Social Accounting · Ch 21 Social Audit · Ch 26 IFMS · Ch 27 Developments Read the short version, do the MCQs, move on. Ch 9 and Ch 8 have 40 MCQs between them but almost no PYQ presence.
PART 3 — Chapter-by-chapter action list
Format: what to actually learn → MCQ range → PYQs
🔴 Ch 15 — Bank Reconciliation Statement (6 marks)
Learn: why balances differ (timing differences) · unpresented cheque (issued, not presented) · deposit in transit / uncredited cheque · direct deposits & bank charges · debit balance in cash book = credit balance in passbook · overdraft = unfavourable · reconcile in both directions. → MCQs 174–197 · 350–362 → PYQ 2022·Q82, Q93 · 2024·Q39, Q40, Q41, Q49 ⭐ "Bank pass book = copy of the customer's account in the bank's ledger" was asked in both papers.
🔴 Ch 16 — Partnership Accounts (5 marks)
Learn: absence of a deed → profits shared equally, no salary/commission, interest on loan @6%, no interest on capital · new profit-sharing ratio on admission · sacrificing ratio · goodwill brought by new partner → credited to sacrificing partners · interest on drawings → debited to partner · fixed vs fluctuating capital · asset brought in → market value. → MCQs 198–226 · 442–450 → PYQ 2022·Q106, Q108 · 2024·Q44, Q45, Q58
🔴 Ch 2 — Basic Accounting Terms (6 marks)
Learn: capital vs revenue expenditure · drawings reduce capital · goods = what the business trades in · trade vs cash discount · voucher · depreciation = non-cash operating expense · current vs non-current · tangible vs intangible. → MCQs 17–27 · 363–379 → PYQ 2022·Q85, Q87, Q88, Q90, Q102 · 2024·Q38 · Short notes: SN-2-Basic-Accounting-Terms
🔴 Ch 5 — Double Entry, Journal & Journalizing (7 marks)
Learn: three golden rules · Personal / Real / Nominal classification · Representative Personal (outstanding, prepaid) · Impersonal = Real + Nominal · modern-approach normal balances · the standard journal entries. → MCQs 52–72 · 317–329 → PYQ 2022·Q91, Q92, Q95, Q96, Q98, Q101, Q104 · Short notes: SN-5-Double-Entry-Journal
🔴 Ch 3 — Accounting Concepts (3 marks)
Learn: all 12 concepts + their trigger words · the 3 fundamental assumptions (Going Concern, Consistency, Accrual) · single vs double entry · cash vs accrual basis. → MCQs 28–44 · 392–421 → PYQ 2022·Q105 · 2024·Q36, Q51 · Short notes: SN-3-Basic-Accounting-Concepts ⭐ Money Measurement / human resources is the most-repeated question in the entire paper.
🔴 Ch 4 — Accounting Equation (2 marks)
Learn: A = L + C · C = A − L · solve for a missing figure · balance-sheet-total sums (net profit & provisions go on the liabilities side). → MCQs 45–51 · 309–316 → PYQ 2022·Q83 · 2024·Q35 · Short notes: SN-4-Accounting-Equation
🔴 Ch 22 — PFMS (3 marks)
Learn: PFMS was earlier CPSMS · managed by the Office of the CGA, Ministry of Finance · strength = integration with the Core Banking System · enables DBT. → MCQs 288–291 → PYQ 2022·Q86, Q99 · 2024·Q42 ⭐ Seven pages, three marks. Do this chapter in one sitting.
🟠 Ch 23 — Taxation (5 marks · 100 MCQs)
Learn: direct vs indirect tax · incidence of tax · residential status (182 days; ROR/RNOR/NR) · income received in India is taxable for all assessees · 5 heads of income · charging section = Sec 4 · Article 265 · CBDT vs CBIC · advance-tax dates · GST = destination-based · CGST/SGST vs IGST · composition scheme cannot collect tax · reverse charge · HSN/SAC · GST from 1 July 2017. → MCQs 501–600 → PYQ 2024·Q52, Q55, Q56, Q57, Q59 · ⚠️ read Part 5 first
🟠 Ch 24 + 25 — Costing & Budgeting (3 marks)
Learn: Prime cost = direct material consumed + direct labour + direct expenses · works cost + admin = cost of production · fixed cost constant in total, varies per unit · semi-variable · contribution = sales − variable cost · units for target profit = (fixed + profit) ÷ contribution per unit · costing methods vs techniques · master / flexible / cash / capital budget · key factor. → MCQs 451–500 → PYQ 2024·Q31, Q32, Q60
🟠 Ch 17 — Single Entry (3 marks)
Learn: statement of affairs · closing capital − opening capital ± drawings/additions = profit · Debtors A/c to find credit sales · incomplete records are used by sole traders. → MCQs 227–242 · 442–445 → PYQ 2022·Q100, Q107 · 2024·Q43
🟡 Tier C — quick list
| Ch | Learn | MCQs | PYQ |
|---|---|---|---|
| 1 | process order · Pacioli/1494/Italy · book-keeping vs accounting · stewardship | 1–16, 301–308 | 2022·Q97 · 2024·Q34 |
| 6 | debit/credit/transfer voucher · debit note vs credit note · receipt = proof of payment | 73–78 | 2022·Q90 · 2024·Q37, Q38 |
| 7 | posting · balancing · purchases vs sales ledger | 79–97 | 2024·Q33, Q46 |
| 10 | checks arithmetical accuracy of the ledger · suspense account · prepared at period end | 118–131 | 2024·Q50 |
| 19 | objective = opinion on financial statements · internal vs statutory vs system audit · first step = planning | 247–255 | 2022·Q81 · 2024·Q47 |
| 12–14 | gross profit · COGS · carriage inward → Trading · provision for bad debts · retained earnings · cost of stock | 142–173, 380–391 | 2022·Q84, Q89, Q94, Q103, Q109, Q110 |
PART 4 — The numericals you must be able to do
These are the only calculation types the two papers actually used. Practise until each takes under 60 seconds.
| # | Type | Method | Seen in |
|---|---|---|---|
| 1 | Balance-sheet total | Sort each figure into asset vs liability+capital; both sides must tie | 2022·Q83 |
| 2 | Provision for bad debts | Required % × closing debtors − existing provision | 2022·Q84 |
| 3 | New profit-sharing ratio | New partner takes his share; split the remainder in the old ratio | 2024·Q45 |
| 4 | Goodwill on admission | New partner brings his share × valued goodwill | 2024·Q58 |
| 5 | Prime cost | Material consumed + direct labour + direct expenses (ignore purchased & overheads) | 2024·Q32 |
| 6 | Units for target profit | (Fixed cost + desired profit) ÷ contribution per unit | 2024·Q60 |
| 7 | Closing capital (single entry) | Opening − drawings + profit + additional capital | MCQ Q445 |
| 8 | Missing figure in A = L + C | Rearrange the equation | 2024·Q35, MCQ Q47/Q311 |
| 9 | BRS both directions | Cash book ↔ pass book, adjusting timing differences | 2022·Q82 |
| 10 | Asset brought in by partner | Record at current market value | 2022·Q108 |
PART 5 — 🔮 Accountancy-specific prediction
🚨 The Income-tax Act, 2025 — your notes are out of date
The Income-tax Act, 2025 replaced the 1961 Act with effect from 1 April 2026. Your Ch 23 notes and MCQs Q501–550 are written on the old Act and quote AY 2020-21 / 2021-22.
| Old (1961 Act) | New (2025 Act) |
|---|---|
| Previous Year + Assessment Year | ⭐ "TAX YEAR" (1 Apr – 31 Mar) replaces Previous Year |
| 298 sections | 536 sections · 23 chapters |
| In force 1962 – 2026 (65 yrs) | In force from 1 April 2026 |
| — | Simplified language; tax rates unchanged |
Learn both vocabularies. The concepts (residential status, heads of income, charging section, GST mechanics) are unchanged — only the terminology and section numbers moved. ⚠️ MCQ Q505 ("Assessment year means 12 months from 1 April…") and Q506 ("Previous Year for AY 2021-22") now use superseded framing.
What I'd bet on — accountancy only
| Confidence | Expect |
|---|---|
| 🟢 Near-certain | Money Measurement — human resources excluded from B/S |
| 🟢 Near-certain | PFMS ← CPSMS |
| 🟢 Near-certain | Accounting equation — formula or a missing figure |
| 🟢 Near-certain | BRS — unpresented cheque / deposit in transit / pass book |
| 🟢 High | Statement of affairs (incomplete records) |
| 🟢 High | Partnership — new ratio, goodwill, or absence-of-deed rule |
| 🟢 High | Golden rules — debit the receiver / nominal debit balance |
| 🟡 Medium | Prime cost or a contribution / BEP sum |
| 🟡 Medium | GST — destination principle or IGST on inter-state supply |
| 🟡 Medium | Trial balance purpose · audit type · posting definition |
| 🟡 Medium | Capital vs revenue expenditure (installation wages) |
| 🔵 Wildcard | Income-tax Act 2025 / "tax year" — the one genuinely new risk |
⭐ The four verbatim repeats — 4 near-free marks
| # | Question | 2022 | 2024 | Also |
|---|---|---|---|---|
| 1 | Money Measurement → human resources | Q105 | Q36 | MCQ Q39 |
| 2 | PFMS was earlier CPSMS | Q86 | Q42 | MCQ Q289 |
| 3 | Bank pass book = customer's a/c in bank's ledger | Q93 | Q49 | — |
| 4 | Statement of affairs | Q107 | Q43 | MCQ Q442 |
PART 6 — Revision protocol for this section
| Round | Trigger | Action |
|---|---|---|
| R1 | same day as reading | Do that chapter's MCQ range immediately |
| R2 | +3 days | Short notes only — 5 min per chapter |
| R3 | +2 weeks | Re-do only the MCQs you got wrong |
| R4 | final week | Short notes + the 10 numerical types + the 4 repeats |
Drilling order for the 600 MCQs (from MCQs-Chapter-Map)
- Q1–131 — fundamentals, clean format, fastest wins
- Q174–244 · 350–362 · 442–450 — BRS + Partnership + Single Entry (your floor)
- Q451–500 — Costing & Budgeting
- Q501–600 — Taxation & GST (biggest block; read Part 5 first)
- Q132–173 · 380–391 — Final Accounts
- Q245–349 · 392–441 — mixed revision
| MCQ | Book says | Correct |
|---|---|---|
| Q3 | D (Reliability) | A — Understandability |
| Q367 | D (None of the above) | C — Technological changes |
| Q519 | B (7) | A — 5 heads of income |
| Q543 | D (85) | C — 80 years |
Plus the author's own corrigendum: Purchases & Sales = NOMINAL accounts (p.26) · "Cash memo received from seller" = EXTERNAL voucher (p.29).
✅ The four "missing" topics are now COVERED
They were absent from the book, so I added sourced addenda to the relevant chapters:
- Current ratio + all ratio formulas + leverage → addendum in L-18-FINANCIAL MANAGEMENT
- Sec 80CCD limits + "Goods" u/s 2(52) + Income-tax Act 2025 → addendum in L-23-TAXATION, TAX LAWS – DIRECT & INDIRECT TAX
- Bank Rate vs Repo Rate + current RBI rates → addendum in L-26-INDIAN FINANCIAL MANAGEMENT SYSTEM
These four gaps cost 4 marks in 2024 (Q48, Q53, Q56, Q57) plus Q97. Nothing in the syllabus is now uncovered.
PART 7 — Attempting accountancy in the exam
The section is Q31–60 (2024 pattern) or Q81–110 (2022 pattern) — check where it sits before you start.
| Pass | Do |
|---|---|
| 1st | Every theory/definition question — concepts, terms, PFMS, audit, voucher, golden rules. These are 10–20 seconds each |
| 2nd | BRS, single entry, equation — short, structured calculations |
| 3rd | Partnership and costing numericals — the slowest |
| Skip | Anything on ratio formulas or specific tax sections if you didn't cover them — don't burn 3 minutes on 1 mark |
Realistic split of 30: ~18 theory + ~12 numerical. If you own the theory you already have 18.
🔗 Related
- FAA-MASTER-PLAN (all 8 sections) · INDEX (chapter navigation)
- MCQs · MCQs-Chapter-Map · MCQs-Repaired
- 2022-Accountancy-Chapterwise · 2024-Accountancy-Chapterwise
- Short notes: SN-1-Introduction-to-Accounting · SN-2-Basic-Accounting-Terms · SN-3-Basic-Accounting-Concepts · SN-4-Accounting-Equation · SN-5-Double-Entry-Journal · SN-6-Voucher-Approach
