CSEET · October 2026 · Paper 2
CSEET Fundamentals of Accounting October 2026: paper analysis
Our own analysis of the official paper, as of 12 October 2026. The questions and answers belong to ICSI; read them on ICSI's website.
Chapter-wise marks
Where the marks were in this paper (out of 100; internal-choice alternatives not double counted).
| Chapter | Questions | Marks | Share |
|---|---|---|---|
| Accounting Process | 5 | 40 | 30% |
| Preparation of Final Accounts for Sole Proprietorship | 2 | 24 | 18% |
| Accounting for Non-Profit Organizations | 2 | 14 | 11% |
| Partnership and LLP Accounts | 2 | 14 | 11% |
| Basic Concepts and Principles of Accounting | 2 | 12 | 9% |
| Introduction to Company Accounts | 2 | 12 | 9% |
| Depreciation and Amortization | 1 | 8 | 6% |
| Bank Reconciliation Statement | 1 | 8 | 6% |
What each question tested
In our words, by question number. Open the official paper for the full question.
| Q | Marks | Tests | Chapter |
|---|---|---|---|
| 1 | 20 | Trading and Profit and Loss Account and Balance Sheet of a sole trader with adjustments for goods given away, fire loss, accruals, prepayments and provisions | Preparation of Final Accounts for Sole Proprietorship |
| 2(a) | 8 | Income and Expenditure Account and Balance Sheet of a hospital from a receipts and payments summary with subscription and grant adjustments | Accounting for Non-Profit Organizations |
| 2(b) | 8 | Preparing a trial balance from a list of ledger balances | Accounting Process |
| 3(a) | 8 | Machinery account under written down value with additions and sale of an old machine over four years | Depreciation and Amortization |
| 3(b) | 8 | The three fundamental accounting assumptions explained with examples | Basic Concepts and Principles of Accounting |
| 4(a) | 8 | Two-column cash book with opening overdraft, trade discount, bank transactions and a bankrupt debtor | Accounting Process |
| 4(b) | 8 | Classifying accounts as personal, real or nominal with reasons | Accounting Process |
| 5(a) | 8 | Journal entries for issue of shares with undersubscription and forfeiture for non-payment of allotment and call | Introduction to Company Accounts |
| 5(b) | 8 | Bank reconciliation statement starting from a debit cash book balance with common timing and recording differences | Bank Reconciliation Statement |
| 6(a) | 10 | Admission of a partner: revaluation account, capital accounts and new balance sheet | Partnership and LLP Accounts |
| 6(b) | 6 | Computing subscription income after outstanding and advance subscription adjustments | Accounting for Non-Profit Organizations |
| 7(a) | 8 | Journalising basic transactions including capital introduced, charity, loss by fire and outstanding salary | Accounting Process |
| 7(b) | 4 | Issuing debentures as purchase consideration at par, discount and premium | Introduction to Company Accounts |
| 7(c) | 4 | Advantages of the LLP form of organisation | Partnership and LLP Accounts |
| 8(a) | 8 | Rectification of errors found after preparing the trial balance | Accounting Process |
| 8(b) | 4 | The four components of financial statements | Basic Concepts and Principles of Accounting |
| 8(c) | 4 | Preparing a proprietor capital account from capital, drawings and profit data | Preparation of Final Accounts for Sole Proprietorship |
What stood out
- The paper is heavily practical: 14 of 17 entries are computational, with only 3 short theory parts worth 16 marks in total.
- Accounting Process is the most frequent chapter with 5 entries (trial balance, cash book, classification, journal and rectification) worth 40 marks of options.
- Sole proprietor final accounts carry the single largest item: the compulsory 20-mark Q1 with multiple year-end adjustments.
- Every chapter of the syllabus is touched at least once, including company accounts (share forfeiture and debentures), BRS, depreciation and non-profit accounts.
- Partnership is tested through admission with revaluation rather than dissolution, plus an LLP theory part.
Practise the chapters that carried the marks
Accounting Process, Preparation of Final Accounts for Sole Proprietorship, Accounting for Non-Profit Organizations: study guides and practice questions in the CSEET format.