CA Final Subjects in 2021
The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament, viz. The Chartered Accountants Act, 1949 (Act No.XXXVIII of 1949) for regulating the profession of Chartered Accountancy in the country. The Institute, functions under the administrative control of the Ministry of Corporate Affairs, Government of India. The ICAI is the second largest professional body of Chartered Accountants in the world, with a strong tradition of service to the Indian economy in public interest.
New Syllabus
As you know, in 2018, ICAI introduced a new scheme of testing for CA students. This new syllabus aims to promote innovation and encourage out of the box thinking during the education system of the CA course. The changes took effect from the May 2018 attempt on, and students joining the CA course from this attempt must study under this new scheme. Amendments in syllabus are made to meet rapid changes in industry demand. New syllabus made entry more difficult through subjective paper in foundation. Optional paper at ca final level are to make specialization in one particular area. Many new topics were added to meet the expectations of the society.
CA Final Group 1 Subjects:
▪ Paper-1: Financial Reporting
▪ Paper-2: Strategic Financial Management
▪ Paper-3: Advanced Auditing and Professional Ethics
▪ Paper-4: Corporate and Economic Laws
CA Final Group 2 Subjects:
▪ Paper-5: Strategic Cost Management and Performance Evaluation
▪ Paper-6A: Risk Management
▪ Paper-6B: Financial Services and Capital Markets
▪ Paper-6C: International Taxation
▪ Paper-6D: Economic Laws
▪ Paper-6E: Global Financial Reporting Standards
▪ Paper-6F: Multidisciplinary Case Study
▪ Paper-7: Direct Tax Laws and International Taxation
▪ Paper-8: Indirect Tax Laws
Old Syllabus
CA Final Group 1 Subjects:
▪ Paper 1: Financial Reporting
▪ Paper 2: Strategic Financial Management
▪ Paper 3: Advanced Auditing and Professional Ethics
▪ Paper 4: Corporate and Allied Laws
▪ Section A: Company Law
▪ Section B: Allied Laws
CA Final Group II Subjects:
▪ Paper 5: Advanced Management Accounting
▪ Paper 6: Information systems Control and Audit
▪ Paper 7: Direct Tax Laws
▪ Paper 8: GST & Customs
CA Subjects Comparison (New Syllabus V/S Old Syllabus)
Group 1 |
|
| Financial Reporting | Financial Reporting |
| Strategic Financial Management | Strategic Financial Management |
| Advanced Auditing and Professional Ethics | Advanced Auditing and Professional Ethics |
| Corporate and Economic Laws | Corporate and Allied Laws |
Group 2 |
|
|
Strategic Cost Management and Performance Evaluation |
Advanced Management Accounting |
|
Information Systems Control and Audit (ISCA) |
|
Direct Tax Laws and International Taxation |
Direct Tax Laws |
|
Indirect Tax Laws |
Indirect Tax Laws |
Under both schemes of training, the course itself has two components: theoretical and practical. The theoretical part under both schemes consists of three main levels of exams.
The table below shows what they are:
Comparison of the Exams of the CA Course Between the Old and New Scheme
|
Old Scheme |
New Scheme |
|
CA CPT (Common Proficiency Test) |
CA Foundation |
|
CA IPCC (Integrated Professional Competency Course) |
CA Intermediate also known as CA Inter |
|
CA Final (Old) |
CA Final (New) |
Paper-wise Comparison between the CA IPCC and CA Intermediate Exams
|
Old Scheme of Training |
New Scheme of Training |
|
CA IPCC |
CA Intermediate |
|
7 papers and 700 marks total |
8 papers and 800 marks total |
Group-1 Papers
|
Paper 1: Accounting (100 marks) |
Accounting (100 marks) |
|
Paper 2: Business Laws, Ethics and Communication (100 marks) Part I: Business Laws (60 marks; Business Laws 30 marks and Company Laws 30 marks) Part II: Ethics (20 marks) Part III: Communication (20 marks) |
Paper 2: Corporate and Other Laws Part I: Corporate Laws (60 marks) Part II: Other Laws (40 marks) |
|
Paper 3: Cost Accounting and Financial Management (100 marks) Part I: Cost Accounting (50 marks) Part II: Financial Management (50 marks) |
Paper 3: Cost & Management Accounting (100 marks) |
|
Paper 4: Taxation (100 marks) Part I: Income-tax (50 marks) Part II: Indirect taxes (50 marks) |
Paper 4: Taxation (100 marks) Part I: Income-tax Laws (60 marks) Part II: Indirect Taxes (40 marks) |
Group-2 Papers
|
Paper 5: Advanced Accounting (100 marks) |
Paper 5: Advanced Accounting (100 marks) |
|
Paper 6: Auditing and Assurance (100 marks) |
Paper 6: Auditing and Assurance (100 marks) |
|
Paper 8: Financial Management & Economics for Finance (100 marks) Part I: Financial Management (60 marks) Part II: Economics for Finance (40 marks) |
|
|
Paper 7: Information Technology & Strategic Management (100 marks) Part I: Information Technology (50 marks) Part II: Strategic Management (50 marks) |
Paper 7: Enterprise Information Systems & Strategic Management (100 marks) Part I: Enterprise Information Systems (50 marks) Part II: Strategic Management (50 marks) |
There are two choices if you are registered under old scheme:
• Appear under the old scheme of training (ICAI will limit the number of attempts to complete the CA exams under told scheme)
• Convert to the new syllabus of training.
2020 is last year for the old scheme syllabus.
No new registrations can be done for Old Scheme.
