The study material has been written in lucid and simple language and conscious efforts have been made to explain the fundamental concepts and principles of accounting and auditing. This study material is divided into two main parts -Part-A Fundamentals of Accounting, and Part-B Fundamentals of AuditingThere is a computer-based examination for the Foundation Programme. Where Student are required to answer multiple-choice questions. For supplementing the information contained in the study material, students may refer to the economic and financial dailies, commercial, legal, and management journals, Economic Survey (latest), CS Foundation Course e-Bulletin, Suggested Readings and References mentioned in the study material and relevant websites. The objective of the study material is to provide students with the learning material according to the syllabus of the subject of the Foundation Programme. Although due care has been taken in preparing and publishing this study material, yet the possibility of errors, omissions, and/or discrepancies cannot be ruled out.