CA Final: The Final Leg of Chartered Accountancy
The CA Final course is the last level of the Chartered Accountancy program, following the Intermediate
level. It consists of two groups: Group I and Group II
CA Final Course Structuree
Group I: Three Core Papers
- Financial Reporting (100 Marks)
- Advanced Financial Management (100 Marks)
- Advanced Auditing, Assurance, and Professional Ethics (100 Marks)
Group II: Three Core Papers and One Elective Paper
- Direct Tax Laws and International Taxation (100 Marks)
- Indirect Tax Laws (100 Marks)
- Integrated Business Solutions (100 Marks) (Multi-Disciplinary Case Studies with Strategic
Management)
Assessment and Exam Pattern
- 30% case scenario/case-study based MCQs and 70% descriptive questions in all six papers
- No negative marking in MCQ-based questions
- Paper 6 (Integrated Business Solutions) is an open-book examination, while the other five papers are
closed-book examinations
Self-Paced Online Module
The Self-Paced Online Module is an integrated course under the New Scheme of Education and Training.
Students can:
- Register for the module along with the Final Course
- Study independently and take online tests
- Choose from four sets: Sets A, B, C, and D
- Select elective subjects in Sets C and D
- Progress at their own pace during articleship
The ICAI provides the CA course syllabus, which explains the disciplines and topics covered in the exam.
The CA final exam is the final step towards Chartered Accountancy. If a candidate wishes to become a
professional CA, he or she must pass all three levels of exams. The final CA exam consists of six
courses. The ICAI divides this exam into two groups.
| CA Final Subjects |
Marks |
| Paper 1: Financial Reporting |
100 Marks |
| Paper 2: Advance Financial Management |
100 Marks |
|
Paper 3: Advanced Auditing and Professional Ethics
|
100 Marks |
| Paper 4: Direct Tax Laws and International
Taxation |
100 Marks |
| Paper 5: Indirect Tax Lawsn |
100 Marks |
| Paper 6: Integrated Business SolutionsSET A:
Corporate and Economic Laws SET B: Strategic Cost and Performance Management
|
100 Marks |
Paper 1 : Financial Reporting
This paper carries 100 marks. And it takes 3 hours to complete the exam.
Topics covered in this subject at the Final level are-
Module 1:
Introduction to Accounting Standards (AS 15, 21, 23, 25, 27 and 28)
Conceptual Framework for Financial Reporting Under Indian Accounting Standards (Ind AS).
- Ins AS on Presentation of Items in the Financial Statements
- Ind AS on Measurement based on Accounting Policies
- Ind AS 115 “Revenue from Contracts with Customers
Module 2:
Ind AS on Assets in Financial Statements
Other Indian Accounting Standards.
Module 3:
Ind AS on Liabilities in Financial Statements
Ind AS on items that affect the financial statements.
Ind AS: Disclosures in Financial Statements
Accounting and reporting for financial instruments
Module 4:
- India AS 103 “Business Combinations”
- Consolidated and Separate Financial Statements of Group Entities
- Ind AS 101: “First-time Adoption of Indian Accounting Standards”
- Analysis of Financial Statements
- Professional and Ethical Duty of a Chartered Accountant Accounting and Technology
Paper 2: Advanced Financial Management (100 Marks)
Topics covered under this subject are as follows –
Module 1:
- Financial Policy and Corporate Strategy.
- Risk Management.
- Advanced Capital Budgeting Decisions
- Security Analysis.
- Security Valuation
- Portfolio Management.
- Securitization
- Mutual Funds
- Derivatives Analysis and Valuation.
- Foreign Exchange Exposure and Risk Management.
- International Financial Management.
- Interest Rate Risk Management
- Business Valuation
- Mergers, Acquisition and Corporate Restructuring.
- Startup Finance
Paper 3 – Advanced Auditing, Assurance and Professional Ethics (100 Marks)
Topics Covered in this Subject are as follows-
Module 1:
- Quality Control
- General Auditing Principles and Auditors Responsibilities
- Audit Planning, Strategy and Execution
- Materiality, Risk Assessment and Internal Control
- Audit Evidence
- Completion and Review.
- Reporting
Module 2:
Specialised Areas
Audit-related services.
Review financial information and provide assurance services.
Digital Auditing and Assurance Group Audits
Special Features of Auditing Banks and Non-Banking Financial Companies
Module 3:
- An overview of auditing public sector undertakings.
- Internal audits include due diligence, investigations, and forensic audits.
- Emerging areas: Sustainable Development Goals (SDGs) and the Environment, Social, and Governance
(ESG) Assurance
- Professional Ethics and Liabilities of Auditors
Paper 4: Direct Tax Laws and International Taxation (100 Marks)
Topics Covered under Company Law are as follows –
Module 1:
- Basic Concepts
- Incomes that are not part of Total Income
- Business or professional profits, capital gains, and other sources of income.
- Income of Other Persons is included in the assessee’s total income.
- Aggregation of Income, Set Off or Carry Forward of Losses
- Deductions for Gross Total Income
Module 2:
- Assessment of Different Entities
- Evaluation of Trusts, Institutions, Political Parties, and Other Special Entities
- Tax Planning, Avoidance, and Evasion
- Taxation on Digital Transactions
Module 3:
- Deduction, Collection and Recovery of Tax
- Income Tax Authorities
- Assessment Procedure
- Appeals and Revision
- Dispute Resolution
- Miscellaneous Provisions
- Provisions to Counteract Unethical Tax Practices
- Tax Audit and Ethical Compliances
Module 4:
- Non Resident Taxation
- Double Taxation Relief
- Advance Rulings
- Transfer Pricing
- Fundamentals of BEPS
- Application and Interpretation of Tax Treaties
- Overview of Model Tax Conventions
- Latest Developments in International Taxation
Note – Students should be aware that the portions of the Companies Act, 1956 that
are still in effect will be included in your syllabus until their relevant sections are no longer
enforced by the Companies Act, 2013.
Paper 5: Strategic Cost Management and Performance Evaluation (100 Marks)
The subject is divided into three categories-
Module 1:
- Supply Under GST
- Charge Of GST
- Place of Supply
- Exemptions from GST
- Time of Supply
- Value of Supply
Module 2:
- Input Tax Credit
- Registration
- Tax Invoice, Credit and Debit Notes
- Accounts and Records; E-way Bill
- Payment of Tax
- Electronic Commerce Transactions Under GST
- Returns
Module 3:
- Import and Export Under GST
- Refunds
- Job Work
- Assessment And Audit
- Inspection, Search, Seizure and Arrest
- Demand and Recovery
- Liability to Pay in Certain Cases
- Offences and Penalties and Ethical Aspects under GST
- Appeals and Revisions
- Advance Ruling
- Miscellaneous Provisions
Module 4:
- Levy of Exemptions from Customs Duty
- Types of Duty
- Classification of Imported & Exported Goods
- Valuation Under the Customs Act, 1962
- Importation & Exportation of Goods
- Warehousing
- Refund
- Foreign Trade Policy
Paper 5: Strategic Cost Management and Performance Evaluation (100 Marks)
The subject is divided into three categories-
Module 1:
- Supply Under GST
- Charge Of GST
- Place of Supply
- Exemptions from GST
- Time of Supply
- Value of Supply
Module 2:
- Input Tax Credit
- Registration
- Tax Invoice, Credit and Debit Notes
- Accounts and Records; E-way Bill
- Payment of Tax
- Electronic Commerce Transactions Under GST
- Returns
Module 3:
- Import and Export Under GST
- Refunds
- Job Work
- Assessment And Audit
- Inspection, Search, Seizure and Arrest
- Demand and Recovery
- Liability to Pay in Certain Cases
- Offences and Penalties and Ethical Aspects under GST
- Appeals and Revisions
- Advance Ruling
- Miscellaneous Provisions
Module 4:
- Levy of Exemptions from Customs Duty
- Types of Duty
- Classification of Imported & Exported Goods
- Valuation Under the Customs Act, 1962
- Importation & Exportation of Goods
- Warehousing
- Refund
- Foreign Trade Policy