Does CSEET Fundamentals of Accounting still include auditing?

No. Under the restructured CSEET effective June 2026, Paper 2 is Fundamentals of Accounting only. The old CS Foundation paper combined accounting and auditing; the auditing portion is no longer part of the entrance test.

Is Paper 2 objective or descriptive?

Descriptive - a 100-mark written paper of 3 hours. Only Paper 4, Business Laws and Management, is OMR-based under the restructured pattern.

Which topics carry the most marks in CSEET accounting?

Final accounts with adjustments and partnership accounts are the heaviest, and bank reconciliation and rectification of errors are the most reliably scoring. Concepts and conventions carry fewer marks but are quick to secure.

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CSEET Paper 2 - Fundamentals of Accounting

Fundamentals of Accounting is Paper 2 of ICSI's restructured CSEET, effective from the June 2026 session. It is a 100-mark descriptive paper of 3 hours. Note that auditing, which the old CS Foundation paper carried alongside accounting, is no longer part of this paper.

Theoretical framework

Meaning and scope of accounting; accounting concepts, principles and conventions
Accounting standards - purpose and applicability at an introductory level
Capital and revenue expenditure; contingent assets and liabilities

Recording and reconciling

Double-entry system, journal, ledger, subsidiary books and trial balance
Bank reconciliation statement - a reliably scoring topic if the format is drilled
Rectification of errors and depreciation accounting - straight line and written down value

Final accounts

Trading and profit and loss account, balance sheet, and adjustment entries
Accounts of non-trading concerns - receipts and payments versus income and expenditure
Partnership accounts - admission, retirement, death of a partner and basic dissolution

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