CA Final Exam Pattern 2021 : CA Final Course Syllabus And Preparation Tips

CA Final 2021 Exam Pattern : Course Syllabus And Preparation Tips

The third degree of the CA (Chartered Accountancy) course directed by the ICAI (Institute of Chartered Accountants of India) is distinguished as Final. This is the third level course for any understudy aiming to take up the sanctioned bookkeeping course after CPT (Common Proficiency Test). The whole prospectus of CA Final is partitioned into 2 gatherings which is additionally separated into 8 subjects from which one has discretionary subjects in itself.

 

Each paper of CA Final new schedule contains 100 denotes each and from which you need to make sure about at least 40% imprints in each subject and half in total of all the CA Final subjects. Since a CA Final understudy needs to enlist himself at the same time as an articled representative, the limitations corresponding to articled understudies additionally apply to an understudy seeking after the CA Final level till he finishes his article ship for example for a long term period.

 

For an articled assistant/review representative there is a limitation on the courses she/he can concentrate during the residency as an articled/review agent. A review associate can’t take up some other course of study or preparing, regardless of whether scholarly or proficient, without earlier authorization of the chamber. The consent might be allowed to an articled/review colleague, for seeking after each extra course of study in turn during the time of useful preparing on accommodation of solicitation in the endorsed structure. (No.112 to be submit inside one month of the date of joining the school or course to the ICAI.

 

Check Out CA Final Subjects For Quick Preparation

CA Final Subjects for New Syllabus

The subjects for CA Final new subjects are here under: –

CA Final Group I

CA Final Paper 1- Financial Reporting

CA Final Paper 2- Strategic Financial Management

CA Final Paper 3- Advanced Auditing and Professional Ethics

CA Final Paper 4- Corporate and Economic Laws

CA Final Group II

CA Final Paper 5 – Strategic Cost Management and Performance Evaluation

CA Final Paper 6A – Risk Management

CA Final Paper 6B – Financial Services and Capital Markets

CA Final Paper 6C – International Taxation

CA Final Paper 6D – Economic Laws

CA Final Paper 6E – Global Financial Reporting Standards

CA Final Paper 6F – Multidisciplinary Case Study

CA Final Paper 7 – Direct Tax Laws and International Taxation

CA Final Paper 8 – Indirect Tax Laws

 

CA Final Syllabus May 2021 (as per revised scheme)

CA Final Paper 1: Financial Reporting (100 Marks)

1	Framework for Preparation and Presentation of Financial Statements
2	Application of Indian Accounting Standards (Ind AS)
3	Indian Accounting Standards on Group Accounting
4	Accounting and Reporting of Financial Instruments (as per Ind AS)
5	Analysis of Financial Statements
6	Integrated Reporting
7	Corporate Social Responsibility Reporting

 

CA Final Paper 2: Strategic Financial Management (100 Marks)

1	Financial Policy and Corporate Strategy
2	Risk Management
3	Security Analysis
4	Security Valuation
5	Portfolio Management
6	Securitization
7	Mutual Fund
8	Derivatives Analysis and Valuation
9	Foreign Exchange Exposure and Risk Management
10	International Financial Management
11	Interest Rate Risk Management
12	Corporate Valuation
13	Mergers, Acquisitions and Corporate Restructuring
14	Startup Finance

 

CA Final Paper 3: Advanced Auditing and Professional Ethics (100 Marks)

1	Auditing Standards, Statements and Guidance Notes
2	Audit Planning, Strategy and Execution
3	Risk Assessment and Internal Control
4	Special aspects of Auditing in an Automated Environment
5	Audit of Limited Companies
6	Audit Reports
7	Audit Committee and Corporate Governance
8	Audit of Consolidated Financial Statements
9	Special features of audit of Banks, Insurance & Non-Banking Financial Companies
10	Audit under Fiscal Laws
11	Audit of Public Sector Undertakings
12	Liabilities of Auditors
13	Internal Audit, Management and Operational Audit
14	Due Diligence, Investigation and Forensic Audit
15	Peer Review and Quality Review
16	Professional Ethics

 

CA Final Paper 4: Corporate and Economic Laws (100 Marks)

 

Part I: Corporate Laws (70 Marks)

 

Section A: Company Law 

1	The Companies Act, 2013
2	Corporate Secretarial Practice

 

Section B: Securities Laws

1	The Securities Contract (Regulation) Act, 1956 and the Securities Contract (Regulation) Rules, 1957
2	The Securities Exchange Board of India Act, 1992

 

Part II: Economic Laws (30 Marks)

1	The Foreign Exchange Management Act, 1999
2	The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
3	The Prevention of Money Laundering Act, 2002
4	Foreign Contribution Regulation Act, 2010
5	The Arbitration and Conciliation Act, 1996
6	The Insolvency and Bankruptcy Code, 2016

 

CA Final Paper 5: Strategic Cost Management and Performance Evaluation (100 Marks)

 

Part A: Strategic Cost Management and Decision Making

 

Sub Part I: Strategic Cost Management

1	Introduction to Strategic Cost Management
2	Modern Business Environment
3	Lean System and Innovation
4	Cost Management Techniques
5	Cost Management for Specific Sectors

 

Sub Part II: Strategic Decision Making

1	Decision Making
2	Pricing Strategies/ Decisions

 

Part B: Performance Evaluation and Control

 

Sub Part I: Performance Evaluation and Reporting

1	Performance Measurement and Evaluation
2	Divisional Transfer Pricing
3	Strategic Analysis of Operating Income

 

Sub Part II: Managerial Control

1	Budgetary Control
2	Standard Costing

 

Part C: Case Study

1	Case Study

 

CA Final Paper 6 A: Risk Management (100 Marks)

 

1	Introduction to risk
2	Source and evaluation of risks
3	Risk management
4	Evaluation of Risk Management Strategies
5	Risk model
6	Credit risk measurement and management
7	Risk associated with corporate governance
8	Enterprise Risk Management
9	Operational Risk Management

 

 

CA Final Paper 6B: Financial Services and Capital Markets (100 Marks)

 

1	Global Financial Markets
2	Impact of various Policies of Financial Markets
3	Capital Market – Primary
4	Capital Market – Secondary
5	Money Market
6	Institutions and Intermediaries
7	Commodity Market
8	Banking as source of Capital including NBFCs
9	Mutual Funds
10	Private Equity
11	Investment Banking
12	Credit Rating
13	Treasury Operations
14	Risk Management
15	Credit Derivatives
16	Leasing Decisions
17	Factoring
18	SEBI Guidelines

 

 

CA Final Paper 6C: International Taxation (100 Marks)

 

Part I: Taxation of International Transactions and Non-resident Taxation in India 

1	Transfer Pricing provisions under the Income-tax Act, 1961
2	Other Provisions relating to taxation of international transactions and non-resident taxation under the Income-tax Act, 1961
3	Law and Procedures under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

 

Part II: Other aspects of International Taxation

1	Overview of Model Tax Conventions
2	Tax treaties, Application and Interpretation
3	Anti-Avoidance Measures
4	Taxation of E-Commerce Transactions

 

CA Final Paper 6D: Economic Laws (100 Marks)

1	World Trade Organization (WTO) covering its Role, Principles, Functions and Dispute Settlement Mechanism
2	Competition Act, 2002 and Rules/ Regulations
3	Real Estate (Regulation and Development) Act, 2016 [Central Act and Rules/ Regulations]
4	Insolvency and Bankruptcy Code, 2016 and Rules/ Regulations
5	Prevention of Money Laundering Act, 2002 and Rules/ Regulations
6	Foreign Exchange Management Act, 1999 and Rules/ Regulations
7	Prohibition of Benami Property Transactions Act, 1988 and Rules/ Regulations

 

CA Final Paper 6E: Global Financial Reporting Standards (100 Marks)

1	Conceptual Framework for Financial Reporting as per IFRS
2	Application of International Financial Reporting Standards
3	Significant differences between IFRS and US GAAPs

 

CA Final Paper 6F: Multidisciplinary Case Study (100 Marks)

1	Financial Accounting and Reporting
2	Audit and Assurance
3	Taxation
4	Finance and Financial Management
5	Management Accounting
6	Corporate Laws
7	Business Strategy and Management

CA Final Paper 7: Direct Tax Laws and International Taxation (100 Marks)

 

Part I: Direct Tax Laws (70 Marks)

1	Basis of charge, residential status, income which do not form part of total income, heads of income, income of other persons included in assessee’s total income, aggregation of income, set-off and carry forward of losses, deductions from gross total income, rebates and reliefs
2	Special provisions relating to companies and certain persons other than a company
3	Provisions relating to charitable and religious trust and institutions, political parties and electoral trusts
4	Tax Planning, Tax Avoidance & Tax Evasion
5	Collection & Recovery of Tax, Refunds
6	Income-tax Authorities, Procedure for assessment, Appeals and Revision
7	Settlement of Tax Cases, Penalties, Offences & Prosecution
8	Liability in Special Cases
9	Miscellaneous Provisions and Other Provisions

 

Part II: International Taxation (30 Marks)

1	Taxation of international transactions and Non-resident taxation
2	Overview of Model Tax Conventions – OECD & UN
3	Application and interpretation of Tax Treaties
4	Fundamentals of Base Erosion and Profit Shifting

 

CA Final Paper 8: Indirect Tax Laws (100 Marks)

 

Part I: Goods and Services Tax (75 Marks)

1	Introduction to GST in India including Constitutional aspects
2	Levy and collection of CGST and IGST
3	Place of supply
4	Time and Value of supply
5	Input tax credit
6	Computation of GST liability
7	Procedures under GST including registration, tax invoice, credit and debit notes, electronic way bill, accounts and records, returns, payment of tax including tax deduction at source and tax collection at source, refund, job work
8	Liability to pay in certain cases
9	Administration of GST; Assessment and Audit
10	Inspection, Search, Seizure and Arrest
11	Demand and Recovery
12	Offences and Penalties
13	Advance Ruling
14	Appeals and Revision
15	Other provisions

 

Part II: Customs & FTP (25 Marks)

1	Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975
2	Foreign Trade Policy to the extent relevant to the indirect tax laws

 

Details of the CA Final Exam Pattern 2021

Exam Highlights	Details
Mode of exam	Pen paper- based exam
Medium of exam	English, and Hindi
Duration of exam	Three hours (180 minutes) each paper
Total number of groups	Total two groups
Types of questions	Both objective and subjective
Exam conducting body	Institute of Chartered Accountants of India (ICAI)
Total number of papers	Total eight papers as per both old and new syllabus
Frequency	Twice in a year (May and November)
Marking scheme	100 marks each paper
Negative marking	No negative marking for wrong answers

 

Tips for CA Final Students to Start Over in A Better Way

• Imperative to cover Amendments: Start again with the refreshed and most recent material and never under any circumstance avoid the changes particularly in Law and Taxation. ICAI is anticipates from aspirers to remain refreshed with the money and laws.

 

• Cover the AS and SA first: Bookkeeping Standards and Standards of Accounting cover a warm weightage in your paper and it is very simple to get ready so totally AS and SA at the earliest opportunity. IND AS, cut out, cut in and IFRS are likewise essential for Accounting Standards so set them up completely.

 

• Try not to Skip the contextual investigations: There is consistently an inquiry from contextual analyses in papers like Direct Taxes and Indirect Taxes. Nonetheless, it is common to recollect the names of thousands of contextual investigations however you can experience the choice and related arrangement with that. The most recent contextual analyses by and large appear to be excessively significant for your endeavor. Thus, set them up altogether.

 

• Try not to Skip Allied Law: A serious mix-up done by the greater part of the up-and-comers is avoiding Allied Laws. As far as prospectus, Allied Law covers a major segment yet when we talk about the weightage of imprints at that point Company Law covers a significant part just as it is simple and intriguing contrasted with Allied Law. That is the reason understudies frequently skirt Allied Law having such idea as a main priority that they can undoubtedly pass by concentrating just Company Law. Notwithstanding, the paper is planned so that in any event one piece of each question comes from the Allied Laws and on the off chance that you leave each such sort question, at that point it has a negative impact on the analyst brings about disappointment. In this way, get ready for organization law completely and do not avoid Allied Laws.

 

• Learn with Mnemonics: A portion of the subjects like ISCA expected to learn alongside comprehension. A considerable lot of the understudies frightened of this subject. This might be a direct result of the time it takes to gain proficiency with this subject and trouble reviewing the focuses in the test even subsequent to concentrating a great deal. Understudies ought to get familiar with a focus and with memory aides which could help in learning the essentials as well as in reviewing them during the test. Composing focuses isn’t sufficient, recall that you have composed inward substance likewise appropriately.

 

• Complete International Taxation and GST first: The understudies with the old schedule are additionally going to confront International Taxation in Direct Taxes (30 Marks) and Goods and Service Tax in Indirect Taxes in Nov 2019. This is new for the old understudies so attempt to finish that part first which gives you a major alleviation.

 

• Compose with area numbers: At the IPCC level inspector isn’t tolerating from you to compose every single segment number however when we talk about Finals at that point Section number is viewed as significant. In this way present the appropriate responses with the part number yet you are befuddled then skip composing the segment number and compose the appropriate response like, “As per the arrangements of Companies Act 2013… ..”

 

Related Articles – 

What is Administrative Law

Indirect Tax, Difference between Direct & Indirect Tax

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CA Foundation Registration FAQs

CA Inter Exam Pattern and Syllabus

CA Final Exam Pattern

CA Final Subjects & Syllabus

 

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Takshila Learning is there for all the aspiring Charted Accountants to get their statements correct

 

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